MillerKnoll Inc (MLKN)
Payables turnover
| May 31, 2025 | May 31, 2024 | Jun 3, 2023 | May 31, 2023 | May 31, 2022 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 2,247,300 | 2,208,900 | 3,941,600 | 2,657,100 | 2,593,300 |
| Payables | US$ in thousands | — | 241,400 | 269,500 | 269,500 | 355,100 |
| Payables turnover | — | 9.15 | 14.63 | 9.86 | 7.30 |
May 31, 2025 calculation
Payables turnover = Cost of revenue ÷ Payables
= $2,247,300K ÷ $—K
= —
The payables turnover ratio for MillerKnoll Inc. demonstrates notable fluctuations over the analyzed period. As of May 31, 2022, the ratio stood at 7.30, indicating the company took approximately 47 days to settle its payables (computed as 365 / 7.30). By May 31, 2023, the ratio increased to 9.86, reducing the average settlement period to approximately 37 days, which suggests an improvement in the company's ability to pay its creditors more swiftly within that year.
On June 3, 2023, the payables turnover markedly rose to 14.63, implying a significant further acceleration in payments, with the average payable period decreasing to roughly 25 days. This substantial increase may reflect enhanced liquidity, improved payment terms, or strategic decisions to pay suppliers more promptly following the fiscal year-end.
Continuing into May 31, 2024, the ratio declined to 9.15, corresponding to an average payable period of about 40 days. Although lower than the peak in June 2023, this indicates a slight easing in payment speed but still suggests a relatively prompt settlement relative to the earlier period in FY2023.
The data for May 31, 2025, is unavailable, precluding further trend analysis beyond 2024. Overall, the fluctuations in MillerKnoll Inc.’s payables turnover ratio reflect adjustments in payment practices and financial strategy, with a notable peak in June 2023 likely representing a temporary shift toward faster payments or altered supplier terms.