MillerKnoll Inc (MLKN)
Current ratio
| May 31, 2024 | Jun 3, 2023 | May 31, 2023 | May 31, 2022 | May 28, 2022 | ||
|---|---|---|---|---|---|---|
| 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 |
| Current ratio | 1.53 | 1.67 | 1.67 | 1.50 | 1.50 |
May 31, 2024 calculation
Current ratio = Total current assets ÷ Total current liabilities
= $1,069,600K ÷ $697,700K
= 1.53
MillerKnoll Inc's current ratio has been relatively stable over the past few years, ranging from 1.50 to 1.67. This indicates that the company has consistently maintained a strong ability to meet its short-term obligations with its current assets.
A current ratio of 1.50 to 1.67 suggests that MillerKnoll Inc is able to cover its current liabilities with its current assets with some room to spare. This indicates a healthy level of liquidity and financial stability in the short term.
However, the slight fluctuations in the current ratio over the years may warrant further investigation into the composition of current assets and liabilities to ensure that the company's liquidity position remains optimal. Overall, based on the current ratio trend, MillerKnoll Inc appears to be managing its short-term financial obligations effectively.