MillerKnoll Inc (MLKN)
Receivables turnover
| May 31, 2025 | May 31, 2024 | Jun 3, 2023 | May 31, 2023 | May 31, 2022 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 3,669,900 | 3,628,400 | 8,100,200 | 4,087,100 | 3,946,000 |
| Receivables | US$ in thousands | — | 330,500 | 363,500 | 363,500 | 380,900 |
| Receivables turnover | — | 10.98 | 22.28 | 11.24 | 10.36 |
May 31, 2025 calculation
Receivables turnover = Revenue ÷ Receivables
= $3,669,900K ÷ $—K
= —
The receivables turnover ratio for MillerKnoll Inc. demonstrates variability over the observed periods, reflecting changes in the company's efficiency in collecting accounts receivable.
As of May 31, 2022, the ratio was 10.36, indicating that accounts receivable were collected approximately 10.36 times during the fiscal year. This suggests a relatively efficient collection process typical for the period and industry standards.
By May 31, 2023, the ratio increased to 11.24, implying an improvement in receivables management and collection efficiency. The increase suggests that MillerKnoll Inc. was able to turn over its receivables more quickly, potentially reducing the average collection period and lowering the risk of overdue accounts.
Subsequently, on June 3, 2023, the ratio surged to 22.28. This substantial jump indicates a significant enhancement in receivables collection efficiency within this short period, which may result from improved credit policies, stronger collection efforts, or changes in the customer base requiring faster payments.
For May 31, 2024, the receivables turnover ratio was recorded at 10.98, which, although slightly lower than the previous high, remains comparable to the 2022 figure. This suggests that the company's collection efficiency was maintained at a relatively stable level following the peak in early June 2023.
No data is available beyond May 31, 2024, with the latest entry being marked as unavailable or not reported.
Overall, the trend indicates periods of improved receivables collection efficiency, culminating in a notable peak in mid-2023, followed by a stabilization at levels comparable to earlier periods. This pattern may reflect strategic changes or market conditions that influenced the company's credit and collection policies.