MillerKnoll Inc (MLKN)
Quick ratio
| Feb 28, 2025 | Nov 30, 2024 | Aug 31, 2024 | May 31, 2024 | Mar 2, 2024 | Feb 29, 2024 | Dec 2, 2023 | Nov 30, 2023 | Sep 2, 2023 | Aug 31, 2023 | Jun 3, 2023 | May 31, 2023 | Mar 4, 2023 | Feb 28, 2023 | Dec 3, 2022 | Nov 30, 2022 | Sep 3, 2022 | Aug 31, 2022 | May 31, 2022 | May 28, 2022 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 169,800 | 221,100 | 209,700 | 230,400 | 223,600 | 223,600 | 225,800 | 225,800 | 217,500 | 217,500 | 223,500 | 223,500 | 217,100 | 217,100 | 197,500 | 197,500 | 215,800 | 215,800 | 230,300 | 230,300 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 0 | 7,700 | 7,700 |
| Receivables | US$ in thousands | — | — | — | — | 318,700 | — | 344,800 | — | 323,100 | — | 363,500 | — | — | — | — | — | — | — | — | 380,900 |
| Total current liabilities | US$ in thousands | 683,100 | 703,700 | 675,700 | 697,700 | 680,500 | 680,500 | 713,800 | 713,800 | 704,500 | 704,500 | 702,800 | 702,800 | 733,200 | 733,200 | 773,200 | 773,200 | 773,000 | 773,000 | 877,400 | 877,400 |
| Quick ratio | 0.25 | 0.31 | 0.31 | 0.33 | 0.80 | 0.33 | 0.80 | 0.32 | 0.77 | 0.31 | 0.84 | 0.32 | 0.30 | 0.30 | 0.26 | 0.26 | 0.28 | 0.28 | 0.27 | 0.71 |
February 28, 2025 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($169,800K
+ $—K
+ $—K)
÷ $683,100K
= 0.25
The quick ratio of MillerKnoll Inc, as indicated by the provided data, has shown fluctuating values over the given time periods. The quick ratio measures the company's ability to meet its short-term obligations using its most liquid assets. A quick ratio of less than 1 implies the company may have difficulty meeting its short-term liabilities.
On May 28, 2022, the quick ratio was 0.71, indicating that the company had $0.71 in liquid assets available to cover each dollar of its current liabilities. The ratio dropped significantly to 0.27 by May 31, 2022, which may raise concerns about the company's short-term liquidity position.
Subsequently, there were fluctuations in the quick ratio values over time, with some improvements observed in certain periods. For instance, the quick ratio increased to 0.84 on June 3, 2023, suggesting a better ability to meet short-term obligations. However, the ratio decreased again to 0.25 by February 28, 2025, possibly indicating a decline in liquidity.
In conclusion, the quick ratio of MillerKnoll Inc has exhibited fluctuations over the periods analyzed, underscoring the importance of regularly monitoring liquidity performance to ensure the company can meet its short-term financial obligations.