MillerKnoll Inc (MLKN)
Total asset 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 |
| Total assets | US$ in thousands | — | 4,043,600 | 4,274,800 | 4,274,800 | 4,509,200 |
| Total asset turnover | — | 0.90 | 1.89 | 0.96 | 0.88 |
May 31, 2025 calculation
Total asset turnover = Revenue ÷ Total assets
= $3,669,900K ÷ $—K
= —
The total asset turnover ratio of MillerKnoll Inc. has exhibited notable fluctuations across the analyzed period. As of May 31, 2022, the ratio stood at 0.88, indicating that the company generated less than one dollar of sales for each dollar invested in assets. By May 31, 2023, this ratio increased to 0.96, reflecting an improved efficiency in utilizing assets to generate sales.
A significant surge is observed by June 3, 2023, when the total asset turnover peaks at 1.89. This denotes a period during which MillerKnoll Inc. was able to generate substantially higher sales relative to its asset base, possibly due to operational efficiencies or a strategic shift that enhanced revenue generation from existing assets.
Following this peak, the ratio declines to 0.90 by May 31, 2024, returning close to the levels observed in 2022, which could suggest a normalization of operations, increased asset investments, or challenges in maintaining the previously heightened efficiency.
Data for May 31, 2025, is unavailable, preventing further analysis of the trend beyond that date. Overall, the pattern of the total asset turnover ratio indicates periods of increased operational efficiency, particularly around mid-2023, followed by a reversion to earlier levels. The fluctuations imply periods of improved asset utilization interspersed with periods of stabilization, emphasizing the dynamic nature of the company's asset management and sales performance over the observed timeframe.