MillerKnoll Inc (MLKN)
Working capital turnover
| May 31, 2024 | Jun 3, 2023 | May 31, 2023 | May 31, 2022 | May 28, 2022 | ||
|---|---|---|---|---|---|---|
| Revenue | US$ in thousands | 3,628,400 | 8,100,200 | 4,087,100 | 3,946,000 | 7,841,800 |
| Total current assets | US$ in thousands | 1,069,600 | 1,176,200 | 1,176,200 | 1,313,100 | 1,317,900 |
| Total current liabilities | US$ in thousands | 697,700 | 702,800 | 702,800 | 872,600 | 877,400 |
| Working capital turnover | 9.76 | 17.11 | 8.63 | 8.96 | 17.80 |
May 31, 2024 calculation
Working capital turnover = Revenue ÷ (Total current assets – Total current liabilities)
= $3,628,400K ÷ ($1,069,600K – $697,700K)
= 9.76
The working capital turnover of MillerKnoll Inc has shown fluctuations over the years based on the data provided. As of May 28, 2022, the working capital turnover was recorded at 17.80, indicating that the company generated $17.80 in revenue for every dollar of working capital invested. Subsequently, there was a decrease in the working capital turnover to 8.96 by May 31, 2022, and further to 8.63 by May 31, 2023, suggesting a decline in efficiency in utilizing working capital to generate revenue.
However, there was a notable improvement in the working capital turnover to 17.11 by June 3, 2023, indicating a positive trend of increased revenue generation per working capital dollar. Nevertheless, by May 31, 2024, the working capital turnover decreased to 9.76, signifying a slight decline in efficiency compared to the previous period.
Overall, the fluctuations in the working capital turnover of MillerKnoll Inc indicate varying levels of effectiveness in utilizing working capital to generate revenue over the analyzed period. Further monitoring and analysis of this ratio may be necessary to assess the company's operational efficiency and financial performance accurately.