MillerKnoll Inc (MLKN)
Total asset turnover
| 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 | Aug 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (ttm) | US$ in thousands | 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 | 2,610,500 |
| Total assets | US$ in thousands | 4,019,100 | 4,095,100 | 4,155,500 | 4,183,200 | 4,274,800 | 4,382,800 | 4,448,100 | 4,447,400 | 4,514,000 | 4,517,700 | 4,465,900 | 4,460,500 | 2,076,800 | 2,054,900 | 2,028,500 | 1,917,100 | 2,053,900 | 1,985,800 | 1,878,000 | 1,784,800 |
| Total asset turnover | 0.88 | 1.88 | 1.88 | 1.90 | 1.89 | 0.95 | 0.95 | 0.94 | 0.87 | 0.76 | 0.67 | 0.58 | 1.18 | 1.12 | 1.18 | 1.27 | 1.21 | 1.35 | 1.40 | 1.46 |
August 31, 2024 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $3,543,600K ÷ $4,019,100K
= 0.88
The total asset turnover ratio for MillerKnoll Inc has shown some fluctuation over the period analyzed. The ratio indicates how efficiently the company is generating sales relative to its total assets. A higher total asset turnover ratio typically suggests that the company is utilizing its assets effectively to generate revenue.
Looking at the data, we can see that the total asset turnover ratio ranged from as low as 0.58 to as high as 1.90 during the period. The ratio was relatively low at the beginning of the period, indicating that the company was not efficiently generating sales from its assets. However, there was a significant improvement in the ratio in the middle of the period, reaching highs of 1.88 and 1.90.
It is important to note that there was some fluctuation in the ratio towards the end of the period, with the ratio dropping to as low as 0.76. This could indicate a potential inefficiency in utilizing assets to generate sales during that period. Overall, the trend in the total asset turnover ratio for MillerKnoll Inc suggests that the company has made efforts to improve its asset utilization efficiency but still faces some variability in performance.