MillerKnoll Inc (MLKN)
Inventory turnover
| May 31, 2025 | Feb 28, 2025 | Nov 30, 2024 | Aug 31, 2024 | May 31, 2024 | Mar 2, 2024 | Feb 29, 2024 | Dec 2, 2023 | Nov 30, 2023 | Sep 2, 2023 | Aug 31, 2023 | Jun 3, 2023 | May 31, 2023 | Mar 4, 2023 | Feb 28, 2023 | Dec 3, 2022 | Nov 30, 2022 | Sep 3, 2022 | Aug 31, 2022 | May 31, 2022 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 2,247,300 | 2,198,900 | 2,463,200 | 2,405,100 | 2,746,800 | 2,787,800 | 2,961,700 | 2,986,000 | 3,108,500 | 3,133,000 | 3,090,900 | 3,180,400 | 3,195,800 | 3,293,100 | 3,358,500 | 3,416,100 | 3,124,000 | 3,471,400 | 3,158,800 | 3,427,100 |
| Inventory | US$ in thousands | 447,500 | 425,500 | 430,600 | 440,500 | 428,600 | 437,400 | 437,400 | 448,200 | 448,200 | 473,200 | 473,200 | 487,400 | 487,400 | 539,600 | 539,600 | 587,100 | 587,100 | 615,500 | 615,500 | 587,300 |
| Inventory turnover | 5.02 | 5.17 | 5.72 | 5.46 | 6.41 | 6.37 | 6.77 | 6.66 | 6.94 | 6.62 | 6.53 | 6.53 | 6.56 | 6.10 | 6.22 | 5.82 | 5.32 | 5.64 | 5.13 | 5.84 |
May 31, 2025 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $2,247,300K ÷ $447,500K
= 5.02
The inventory turnover for MillerKnoll Inc exhibits a pattern of fluctuations over the period from May 2022 to May 2025. Initially, the ratio decreased from 5.84 in May 2022 to a low of 5.13 in August 2022, indicating a slowdown in inventory utilization or sales relative to inventory levels during that period. Subsequently, the ratio experienced a general upward trajectory, peaking at 6.94 in November 2023, which suggests improvements in inventory turnover, possibly due to better inventory management or increased sales efficiency.
Following this peak, the ratio demonstrated signs of stabilization and slight declines, with values such as 6.66 in December 2023 and 6.37 by March 2024. A notable decline is observed thereafter, with the ratio dropping to 5.46 in August 2024 and further down to 5.02 by May 2025. This downward trend may reflect increased inventory levels relative to sales, potential challenges in inventory liquidation, or shifts in sales dynamics.
Overall, the data reflects a cyclical pattern with periods of improvement and deterioration in inventory turnover. The recent trend of declining ratios suggests a potential concern regarding inventory management efficiency or a slowdown in sales activity relative to inventory levels. These fluctuations underscore the importance of ongoing inventory control measures and monitoring sales trends to maintain optimal inventory turnover rates.