MillerKnoll Inc (MLKN)
Inventory turnover
| Aug 31, 2024 | Mar 2, 2024 | Dec 2, 2023 | Sep 2, 2023 | Jun 3, 2023 | Mar 4, 2023 | Dec 3, 2022 | Sep 3, 2022 | May 28, 2022 | Feb 26, 2022 | Nov 27, 2021 | Aug 28, 2021 | May 29, 2021 | Feb 27, 2021 | Nov 28, 2020 | Aug 29, 2020 | May 30, 2020 | Feb 29, 2020 | Nov 30, 2019 | Aug 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 3,481,800 | 3,646,400 | 3,778,200 | 3,916,100 | 3,939,400 | 3,996,700 | 4,031,800 | 4,021,300 | 3,835,000 | 3,401,900 | 2,944,200 | 2,487,400 | 2,183,700 | 1,714,900 | 1,794,000 | 1,848,900 | 1,925,200 | 2,392,600 | 2,348,200 | 2,336,300 |
| Inventory | US$ in thousands | 440,500 | 437,400 | 448,200 | 473,200 | 487,400 | 539,600 | 587,100 | 615,500 | 587,300 | 520,800 | 482,900 | 446,200 | 228,600 | 201,000 | 191,000 | 186,500 | 197,300 | 200,500 | 184,400 | 181,200 |
| Inventory turnover | 7.90 | 8.34 | 8.43 | 8.28 | 8.08 | 7.41 | 6.87 | 6.53 | 6.53 | 6.53 | 6.10 | 5.57 | 9.55 | 8.53 | 9.39 | 9.91 | 9.76 | 11.93 | 12.73 | 12.89 |
August 31, 2024 calculation
Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $3,481,800K ÷ $440,500K
= 7.90
The inventory turnover ratio of MillerKnoll Inc has displayed some fluctuations over the past few years. The trend shows an overall improvement from a low of 5.57 in August 2021 to a high of 12.89 in November 2019. This indicates that the company has become more efficient in managing its inventory, with a general increase in the number of times inventory is sold and replaced within a given period.
However, it is worth noting that there have been some periods where the inventory turnover ratio decreased, such as the decline from 9.91 in August 2020 to 9.55 in May 2021. This could suggest potential inefficiencies in inventory management during those specific periods.
Overall, the inventory turnover ratio for MillerKnoll Inc has shown a positive trend, indicating that the company has been successful in optimizing its inventory levels and improving its operational efficiency in recent years.