MillerKnoll Inc (MLKN)
Cash ratio
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 221,100 | 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 |
| 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 |
| 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 |
| Cash ratio | 0.31 | 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 |
November 30, 2024 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($221,100K
+ $—K)
÷ $703,700K
= 0.31
The cash ratio of MillerKnoll Inc has been relatively stable over the past few years, averaging around 0.30 to 0.35. The ratio indicates the company's ability to cover its short-term liabilities with its available cash and cash equivalents.
The cash ratio measures the proportion of a company's current assets that are in the form of cash or cash equivalents, providing insight into the company's liquidity and ability to meet its short-term obligations. A cash ratio of 0.31 to 0.33 suggests that MillerKnoll Inc has a moderate level of liquidity, with enough cash on hand to cover approximately 31% to 33% of its current liabilities.
It is worth noting that the cash ratio spiked to unusually high levels in May 2021 to 0.85 and in February 2021 to 0.81. These spikes could be due to certain events such as receiving large cash inflows or reducing short-term liabilities significantly during those periods.
Overall, the consistent cash ratio of around 0.30 to 0.35 for MillerKnoll Inc indicates that the company has maintained a reasonable level of liquidity to meet its short-term financial obligations efficiently.