MillerKnoll Inc (MLKN)
Receivables turnover
| May 31, 2024 | Jun 3, 2023 | May 31, 2023 | May 31, 2022 | May 28, 2022 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 3,628,400 | 8,100,200 | 4,087,100 | 3,946,000 | 7,841,800 |
| Receivables | US$ in thousands | — | 363,500 | — | — | 380,900 |
| Receivables turnover | — | 22.28 | — | — | 20.59 |
May 31, 2024 calculation
Receivables turnover = Revenue ÷ Receivables
= $3,628,400K ÷ $—K
= —
The receivables turnover ratio is a key indicator of how efficiently a company is able to collect payments from its customers. In the case of MillerKnoll Inc, the receivables turnover ratio was 20.59 for the period ending on May 28, 2022. This suggests that, on average, MillerKnoll Inc collected its accounts receivable approximately 20.59 times during that period.
However, the data for the period ending on May 31, 2022, and May 31, 2023, is not available (marked as "—"), making it difficult to assess the trend consistently. When we look at the data for the period ending on June 3, 2023, we see an increase in the receivables turnover ratio to 22.28, indicating an improvement in the efficiency of collecting payments from customers compared to the previous available data point.
Given the missing data points, it is advisable to monitor the trend of the receivables turnover ratio over time to assess the company's ability to efficiently manage its accounts receivable and collect payments in a timely manner.