MillerKnoll Inc (MLKN)
Total asset 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 |
| Total assets | US$ in thousands | 4,036,200 | 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 |
| Total asset turnover | 0.90 | 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 |
November 30, 2024 calculation
Total asset turnover = Revenue (ttm) ÷ Total assets
= $3,615,500K ÷ $4,036,200K
= 0.90
The total asset turnover of MillerKnoll Inc has shown fluctuating performance over the past few years. The ratio measures the efficiency of the company in generating sales from its total assets.
From November 2019 to November 2020, the total asset turnover fluctuated between 1.40 and 1.18, indicating a relatively stable performance. However, there was a noticeable drop to 0.58 in August 2021, suggesting a decline in the efficiency of asset utilization.
Subsequently, the ratio improved to 1.18 in May 2021, showing a recovery in asset turnover efficiency. The trend continued to improve, reaching as high as 1.90 in September 2023. This indicates that the company was able to generate more sales from its total assets during this period.
However, the ratio decreased to 0.88 in August 2024, indicating a decline in efficiency in the most recent period. Overall, the company's total asset turnover has shown variability, with both peaks and troughs, which may warrant further investigation into the factors influencing asset utilization efficiency.