MillerKnoll Inc (MLKN)
Number of days of payables
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Payables turnover | 8.28 | 9.24 | 10.07 | 10.19 | 11.38 | 11.52 | 12.24 | 11.91 | 12.40 | 12.43 | 12.27 | 11.80 | 11.86 | 11.65 | 11.88 | 12.13 | 11.09 | 11.45 | 10.42 | 9.65 | |
| Number of days of payables | days | 44.06 | 39.52 | 36.26 | 35.83 | 32.08 | 31.68 | 29.82 | 30.64 | 29.44 | 29.36 | 29.76 | 30.93 | 30.78 | 31.33 | 30.72 | 30.09 | 32.90 | 31.88 | 35.03 | 37.82 |
May 31, 2025 calculation
Number of days of payables = 365 ÷ Payables turnover
= 365 ÷ 8.28
= 44.06
The analysis of MillerKnoll Inc.’s days of payables over the observed period indicates a general upward trend in the company's accounts payable period. At the end of May 2022, the number of days payable was approximately 37.82 days. This metric gradually decreased to a low of around 29.36 days by September 2023, reflecting a period of tighter payable management or possibly improved supplier payment terms.
From late 2023 onwards, a noticeable increase in days payable is observed. By November 2023, the number of days had increased slightly to approximately 29.44 days, and this upward trajectory continued through to May 2025, reaching 44.06 days. This represents an overall increase of roughly 6.2 days from the low point in September 2023 to the end of May 2025.
The fluctuations in the payables period may indicate shifts in the company's working capital management strategies, changes in supplier credit terms, or responses to cash flow needs. The extension of days payable suggests that the company has been delaying payments to suppliers, which could be an effort to optimize cash flows but also warrants attention to ensure supplier relationships and credit terms remain favorable.
In summary, MillerKnoll Inc. demonstrated a decreasing trend in days of payables during mid-2022 to early 2023, followed by a consistent increase through 2024 and into 2025. This pattern could reflect deliberate strategic adjustments or changing operational conditions affecting payables management.