MillerKnoll Inc (MLKN)
Payables turnover
| Nov 30, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost of revenue (ttm) | US$ in thousands | 3,383,100 | 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 |
| Payables | US$ in thousands | 244,700 | 236,100 | 242,000 | 250,700 | 252,000 | 269,500 | 282,700 | 281,600 | 303,200 | 355,100 | 340,800 | 333,600 | 327,400 | 178,400 | 159,400 | 164,400 | 159,500 | 128,800 | 180,600 | 166,700 |
| Payables turnover | 13.83 | 14.75 | 15.07 | 15.07 | 15.54 | 14.62 | 14.14 | 14.32 | 13.26 | 10.80 | 9.98 | 8.83 | 7.60 | 12.24 | 10.76 | 10.91 | 11.59 | 14.95 | 13.25 | 14.09 |
November 30, 2024 calculation
Payables turnover = Cost of revenue (ttm) ÷ Payables
= $3,383,100K ÷ $244,700K
= 13.83
MillerKnoll Inc's payables turnover has been fluctuating over the past few years. The ratio indicates how efficiently the company is managing its trade payables.
The trend shows an improvement in payables turnover from Nov 30, 2019, to Mar 2, 2024, with the ratio increasing from 14.09 to 15.07. This suggests that MillerKnoll Inc has been paying its suppliers more frequently within a year, which could be a positive indicator of strong supplier relationships or improved liquidity.
However, the ratio decreased slightly in the most recent period to 13.83 on Nov 30, 2024. While the decrease may raise some concerns, it is important to analyze the reasons behind this change. It could be due to various factors such as changes in payment terms with suppliers, changes in purchasing patterns, or fluctuations in inventory levels.
Overall, it is essential for MillerKnoll Inc to continue monitoring its payables turnover ratio to ensure that the company is effectively managing its payables and maintaining favorable relationships with suppliers.