MillerKnoll Inc (MLKN)
Receivables 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 3,615,500 | 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 |
| Receivables | US$ in thousands | 371,500 | 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 |
| Receivables turnover | 9.73 | 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 |
November 30, 2024 calculation
Receivables turnover = Revenue (ttm) ÷ Receivables
= $3,615,500K ÷ $371,500K
= 9.73
The receivables turnover ratio measures how efficiently a company is able to collect payments from its customers. MillerKnoll Inc's receivables turnover has fluctuated over the past few years, ranging from as low as 8.46 to as high as 24.56. A higher ratio indicates that the company is collecting its accounts receivable more quickly, which is generally a positive sign.
Looking at the most recent data, the receivables turnover ratio was 9.73 as of November 30, 2024, and 11.09 as of August 31, 2024. While the ratio has decreased slightly in the most recent period, it is still within a reasonable range.
It is important to note that an extremely high or low receivables turnover ratio may indicate potential issues with the company's credit policies, collection efforts, or the quality of its customers. Therefore, a thorough analysis of the trend in receivables turnover over time, along with other financial metrics, is necessary to assess the overall health of MillerKnoll Inc's accounts receivable management.