MillerKnoll Inc (MLKN)
Receivables turnover
| 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 | Aug 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 3,543,600 | 7,706,000 | 7,817,700 | 7,936,600 | 8,100,200 | 4,176,800 | 4,230,500 | 4,199,000 | 3,907,600 | 3,428,600 | 2,996,200 | 2,601,900 | 2,454,300 | 2,308,500 | 2,384,400 | 2,432,800 | 2,477,600 | 2,672,900 | 2,629,100 | 2,610,500 |
| Receivables | US$ in thousands | 319,600 | 318,700 | 344,800 | 323,100 | 363,500 | — | — | — | 380,900 | 355,900 | 353,800 | 307,600 | 221,100 | 219,800 | 226,000 | 223,700 | 199,500 | 259,600 | 244,600 | 252,100 |
| Receivables turnover | 11.09 | 24.18 | 22.67 | 24.56 | 22.28 | — | — | — | 10.26 | 9.63 | 8.47 | 8.46 | 11.10 | 10.50 | 10.55 | 10.88 | 12.42 | 10.30 | 10.75 | 10.36 |
August 31, 2024 calculation
Receivables turnover = Revenue (ttm) ÷ Receivables
= $3,543,600K ÷ $319,600K
= 11.09
The receivables turnover of MillerKnoll Inc has varied over the past few reporting periods. The company's receivables turnover ratio was relatively high at 24.18 as of March 2, 2024, indicating that the company is collecting its accounts receivable more frequently during that period. This may suggest efficient management of its accounts receivable and a shorter collection period.
However, the receivables turnover ratio dropped to 8.47 as of November 27, 2021, and increased gradually in subsequent periods. This decrease might suggest that the company took longer to collect payments from its customers during that specific period, potentially signaling issues with credit policies or the creditworthiness of customers.
The receivables turnover ratio, on average, has been around 10-12 times, demonstrating that MillerKnoll Inc typically collects its accounts receivable approximately 10 to 12 times within a given period. A higher turnover ratio generally indicates that the company is efficiently managing its accounts receivable and converting them into cash quickly.
It is important to note that a declining or fluctuating receivables turnover ratio could indicate potential credit risks, collection inefficiencies, or changes in customer payment behavior, which would warrant further investigation and monitoring by stakeholders.