MillerKnoll Inc (MLKN)
Payables turnover
| May 31, 2024 | Jun 3, 2023 | May 31, 2023 | May 31, 2022 | May 28, 2022 | ||
|---|---|---|---|---|---|---|
| Cost of revenue | US$ in thousands | 2,208,900 | 3,941,600 | 2,657,100 | 2,593,300 | 3,835,100 |
| Payables | US$ in thousands | — | 269,500 | — | — | 355,100 |
| Payables turnover | — | 14.63 | — | — | 10.80 |
May 31, 2024 calculation
Payables turnover = Cost of revenue ÷ Payables
= $2,208,900K ÷ $—K
= —
The payables turnover ratio for MillerKnoll Inc fluctuated over the period analyzed. It was 10.80 as of May 28, 2022, increased to 14.63 by June 3, 2023, and was not available for May 31, 2022, May 31, 2023, and May 31, 2024.
The increase in the payables turnover ratio from May 28, 2022, to June 3, 2023, indicates that MillerKnoll Inc was able to manage its accounts payable more efficiently during this period. A higher payables turnover ratio suggests that the company is paying its suppliers more frequently or quickly, which can be beneficial for maintaining good relationships with suppliers and potentially negotiating better terms.
However, the absence of data for certain periods may indicate inconsistencies in recording or reporting practices, which could affect the overall assessment of the company's payables management efficiency. Further analysis and additional information would be needed to understand the reasons behind these fluctuations and the implications for MillerKnoll Inc's financial health and operational performance.