MillerKnoll Inc (MLKN)
Total asset turnover
| May 31, 2025 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 3,669,900 | 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 |
| Total assets | US$ in thousands | 3,950,200 | 3,895,400 | 4,036,200 | 4,019,100 | 4,043,600 | 4,095,100 | 4,095,100 | 4,155,500 | 4,155,500 | 4,183,200 | 4,183,200 | 4,274,800 | 4,274,800 | 4,382,800 | 4,382,800 | 4,448,100 | 4,448,100 | 4,447,400 | 4,447,400 | 4,514,000 |
| Total asset turnover | 0.93 | 0.92 | 0.89 | 0.87 | 0.88 | 0.88 | 0.89 | 0.89 | 1.87 | 1.86 | 1.88 | 1.86 | 0.93 | 0.93 | 0.95 | 0.96 | 0.97 | 0.98 | 0.97 | 0.94 |
May 31, 2025 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $3,669,900K ÷ $3,950,200K
= 0.93
The total asset turnover ratio of MillerKnoll Inc. exhibits notable fluctuations over the analyzed period. From May 31, 2022, through May 31, 2023, the ratio remained relatively stable, ranging narrowly between 0.93 and 0.98. This indicates a consistent efficiency in utilizing assets to generate sales during this interval.
A significant shift occurs starting June 3, 2023, where the ratio markedly increases to 1.86, nearly doubling previous levels, and remains elevated through August 31, 2023, at approximately 1.88. This substantial rise suggests a period of enhanced asset efficiency, potentially attributable to operational improvements, asset restructuring, or increased sales productivity relative to asset base.
Following this peak, the ratio largely sustains a high level around 1.86–1.87 until late 2023. However, by December 2, 2023, the ratio declines sharply to 0.89, approaching pre-2023 levels, indicating a reduction in asset utilization efficiency. The subsequent periods show stability around 0.88–0.92, reflecting modest fluctuations but generally lower efficiency than the mid-2023 peak.
Overall, the ratio's pattern indicates an initial period of stable asset turnover, a pronounced spike mid-2023 suggesting improved operational efficiency or strategic activity, followed by a decline and stabilization at levels similar to pre-2023 figures. This dynamic reflects potential changes in sales performance, asset management strategies, or external market conditions affecting MillerKnoll Inc.'s operational efficiency over the period under consideration.