MillerKnoll Inc (MLKN)
Working capital 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 current assets | US$ in thousands | 1,125,800 | 1,071,800 | 1,083,400 | 1,114,300 | 1,097,700 | 1,176,200 | 1,276,100 | 1,309,900 | 1,331,200 | 1,317,900 | 1,271,100 | 1,214,600 | 1,135,700 | 906,500 | 868,500 | 837,900 | 757,500 | 917,100 | 636,300 | 666,800 |
| Total current liabilities | US$ in thousands | 703,700 | 675,700 | 680,500 | 713,800 | 704,500 | 702,800 | 733,200 | 773,200 | 773,000 | 877,400 | 833,600 | 857,300 | 806,800 | 476,500 | 499,900 | 507,500 | 477,500 | 470,200 | 506,100 | 481,400 |
| Working capital turnover | 8.57 | 8.95 | 19.13 | 19.52 | 20.18 | 17.11 | 7.69 | 7.88 | 7.52 | 8.87 | 7.84 | 8.39 | 7.91 | 5.71 | 6.26 | 7.22 | 8.69 | 5.54 | 20.53 | 14.18 |
November 30, 2024 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $3,615,500K ÷ ($1,125,800K – $703,700K)
= 8.57
MillerKnoll Inc's working capital turnover has shown fluctuations over the historical periods provided. The working capital turnover ratio measures how efficiently the company is utilizing its working capital to generate sales revenue.
- As of Nov 30, 2024, the working capital turnover ratio was 8.57.
- As of Aug 31, 2024, the ratio slightly decreased to 8.95.
- The ratio significantly increased to 19.13 as of Mar 2, 2024, and further to 19.52 as of Dec 2, 2023.
- Looking back to Sep 2, 2023, the ratio was 20.18, indicating extremely efficient use of working capital.
- However, there was a decline in efficiency with a ratio of 7.69 as of Mar 4, 2023.
- Similarly, as of Dec 3, 2022, and Sep 3, 2022, the ratios were 7.88 and 7.52, respectively, showing a downward trend.
- The ratio improved to 8.87 as of May 28, 2022, but then dropped to 7.84 as of Feb 26, 2022.
- The working capital turnover was 8.39 as of Nov 27, 2021, and 7.91 as of Aug 28, 2021.
- Prior to that, there was a lower ratio of 5.71 as of May 29, 2021, and 6.26 as of Feb 27, 2021.
- The ratio was 7.22 as of Nov 28, 2020, and 8.69 as of Aug 29, 2020, showing variations.
- Going back to May 30, 2020, and Feb 29, 2020, the ratios were 5.54 and 20.53, respectively.
- The working capital turnover ratio was 14.18 as of Nov 30, 2019.
The fluctuations in the working capital turnover ratio suggest changes in how efficiently MillerKnoll Inc is managing its working capital to support its sales activities. Further investigation and comparison with industry benchmarks could provide additional insights into the company's performance and financial health over time.