MillerKnoll Inc (MLKN)
Receivables turnover
| Feb 28, 2025 | Nov 30, 2024 | Aug 31, 2024 | May 31, 2024 | Mar 2, 2024 | Feb 29, 2024 | Dec 2, 2023 | Nov 30, 2023 | Sep 2, 2023 | Aug 31, 2023 | Jun 3, 2023 | May 31, 2023 | Mar 4, 2023 | Feb 28, 2023 | Dec 3, 2022 | Nov 30, 2022 | Sep 3, 2022 | Aug 31, 2022 | May 31, 2022 | May 28, 2022 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 3,597,000 | 3,574,700 | 3,476,600 | 3,544,800 | 3,605,400 | 3,650,000 | 3,695,400 | 7,789,600 | 7,796,800 | 7,863,900 | 7,930,900 | 3,955,600 | 4,065,800 | 4,162,300 | 4,256,400 | 4,308,300 | 4,341,900 | 4,309,300 | 4,249,800 | 4,175,600 |
| Receivables | US$ in thousands | 346,000 | 371,500 | 319,600 | 330,500 | 318,700 | 318,700 | 344,800 | 344,800 | 323,100 | 323,100 | 363,500 | 363,500 | — | 389,700 | — | 398,000 | — | 372,300 | 380,900 | 380,900 |
| Receivables turnover | 10.40 | 9.62 | 10.88 | 10.73 | 11.31 | 11.45 | 10.72 | 22.59 | 24.13 | 24.34 | 21.82 | 10.88 | — | 10.68 | — | 10.82 | — | 11.57 | 11.16 | 10.96 |
February 28, 2025 calculation
Receivables turnover = Revenue (ttm) ÷ Receivables
= $3,597,000K ÷ $346,000K
= 10.40
Analyzing the receivables turnover of MillerKnoll Inc based on the provided data, we observe fluctuations in the ratio over different periods.
- As of May 28, 2022, the receivables turnover was reported at 10.96, indicating that on average, the company collected its outstanding receivables approximately 10.96 times during the year.
- There is no data available for several subsequent dates until June 3, 2023, where a significant increase in the receivables turnover to 21.82 was noted. This indicates a notable improvement in the efficiency of collecting receivables during this period.
- Subsequently, on September 2, 2023, the receivables turnover further increased to 24.13, indicating that the company was collecting its outstanding receivables even more frequently.
- However, by December 2, 2023, the receivables turnover ratio decreased to 10.72, compared to the previous period, suggesting a slowdown in the collection of receivables.
- The trend continues with fluctuations in the receivables turnover ratio, showing no data available for several periods thereafter.
Overall, the analysis of the receivables turnover ratio indicates variations in the efficiency of MillerKnoll Inc in collecting its accounts receivable over the reported periods. The company experienced periods of both improved and reduced effectiveness in converting credit sales into cash, which could reflect changes in customer payment behavior, company credit policies, or other operational factors.