MillerKnoll Inc (MLKN)
Working capital 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 current assets | US$ in thousands | 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 | 653,600 |
| Total current liabilities | US$ in thousands | 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 | 484,900 |
| Working capital turnover | 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 | 15.47 |
August 31, 2024 calculation
Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $3,543,600K ÷ ($1,071,800K – $675,700K)
= 8.95
The working capital turnover for MillerKnoll Inc has varied over the past years, indicating fluctuations in the efficiency of the company's management of working capital.
The highest working capital turnover was observed on Sep 2, 2023, at 20.18, suggesting that MillerKnoll Inc was able to generate sales revenue 20.18 times the average amount of working capital invested during that period. This indicates a high level of efficiency in utilizing its current assets to generate sales.
On the other hand, the lowest working capital turnover was recorded on Feb 27, 2021, at 5.71, signifying that the company was only able to generate sales revenue 5.71 times the average amount of working capital invested during that period. This may indicate inefficiencies in managing working capital resources.
Overall, the working capital turnover has displayed fluctuations, with some periods showing higher efficiency in utilizing working capital to generate sales compared to others. It is essential for MillerKnoll Inc to monitor and manage its working capital effectively to optimize its operational performance and financial health.