MillerKnoll Inc (MLKN)
Total asset 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 |
| Total assets | US$ in thousands | 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 | 4,514,000 |
| Total asset turnover | 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 | 0.93 |
February 28, 2025 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $3,597,000K ÷ $3,895,400K
= 0.92
The total asset turnover ratio of MillerKnoll Inc fluctuated over the analyzed period. It started at 0.93 in May 2022, slightly increased to 0.98 by September 2022, then gradually decreased to 0.93 in March 2023. Interestingly, there was a significant spike in June 2023, reaching a high of 1.88, which indicates a substantial increase in efficiency in utilizing its total assets to generate sales. However, this spike was not sustained, as the ratio decreased to 0.89 by December 2023 and further declined to 0.87 by August 2024. The ratio then picked up again to 0.92 by February 2025.
Overall, the total asset turnover ratio of MillerKnoll Inc has shown variability, with periods of improvement in asset utilization efficiency interspersed with decreases. Further analysis would be needed to understand the underlying reasons for these fluctuations and whether they are indicative of changing business strategies, operational efficiencies, or other factors impacting the company's performance.