MillerKnoll Inc (MLKN)
Cash ratio
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 209,700 | 223,600 | 225,800 | 217,500 | 223,500 | 217,100 | 197,500 | 215,800 | 230,300 | 245,900 | 227,300 | 235,100 | 396,400 | 397,400 | 377,900 | 296,600 | 454,000 | 110,600 | 177,000 | 159,500 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | 7,700 | — | 7,400 | 8,000 | 7,700 | 7,500 | 7,200 | 7,000 | 7,000 | 8,900 | 9,000 | 9,000 |
| 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 |
| Cash ratio | 0.31 | 0.33 | 0.32 | 0.31 | 0.32 | 0.30 | 0.26 | 0.28 | 0.27 | 0.29 | 0.27 | 0.30 | 0.85 | 0.81 | 0.76 | 0.64 | 0.98 | 0.24 | 0.39 | 0.35 |
August 31, 2024 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($209,700K
+ $—K)
÷ $675,700K
= 0.31
The cash ratio of MillerKnoll Inc has shown some fluctuations over the past few years. As of August 31, 2024, the cash ratio stands at 0.31, indicating that the company has $0.31 of cash for every $1 of current liabilities. This ratio has remained relatively stable around the 0.30 mark in recent periods, suggesting that the company has maintained a sufficient level of cash to cover its short-term obligations.
There was a significant spike in the cash ratio to 0.85 as of February 27, 2021, which may indicate a temporary increase in cash holdings or a decrease in current liabilities during that period. This spike could be further explained by examining the company's financial activities during that time.
Overall, the company's cash ratio appears to have been managed effectively, staying within a reasonable range over the years. Monitoring this ratio going forward will be essential to ensure that MillerKnoll Inc maintains a healthy liquidity position to meet its short-term financial obligations.