MillerKnoll Inc (MLKN)
Inventory turnover
| 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 | May 28, 2022 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 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 | 3,390,100 |
| Inventory | US$ in thousands | 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 | 587,300 |
| Inventory turnover | 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 | 5.77 |
February 28, 2025 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $2,198,900K ÷ $425,500K
= 5.17
MillerKnoll Inc's inventory turnover has fluctuated over the period analyzed, with a range from 5.13 to 6.94. The inventory turnover ratio indicates the efficiency of the company in managing its inventory levels. A higher turnover ratio generally implies that inventory is selling quickly and efficiently.
From May 28, 2022, to February 28, 2025, there is an overall upward trend in the inventory turnover ratio. This suggests that MillerKnoll Inc has been improving its inventory management efficiency over the years, with the ratio reaching a peak of 6.94 on November 30, 2023.
However, there are some periods where the inventory turnover ratio experienced a slight decline, such as on August 31, 2024, and February 28, 2025. These decreases may indicate potential challenges in managing inventory turnover efficiency during those specific periods.
Overall, maintaining a healthy inventory turnover ratio is important for businesses to optimize working capital and ensure effective utilization of resources. The increasing trend observed in MillerKnoll Inc's inventory turnover ratio demonstrates positive progress in inventory management efficiency, which could potentially lead to improved profitability and liquidity in the future.