MillerKnoll Inc (MLKN)
Quick 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 | 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 |
| Receivables | US$ in thousands | 371,500 | 319,600 | 318,700 | 344,800 | 323,100 | 363,500 | — | — | — | 380,900 | 355,900 | 353,800 | 307,600 | 221,100 | 219,800 | 226,000 | 223,700 | 199,500 | 259,600 | 244,600 |
| 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 |
| Quick ratio | 0.84 | 0.78 | 0.80 | 0.80 | 0.77 | 0.84 | 0.30 | 0.26 | 0.28 | 0.71 | 0.72 | 0.69 | 0.68 | 1.31 | 1.25 | 1.20 | 1.10 | 1.40 | 0.75 | 0.89 |
November 30, 2024 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($221,100K
+ $—K
+ $371,500K)
÷ $703,700K
= 0.84
The quick ratio of MillerKnoll Inc has shown some variability over the past few years. The quick ratio measures the company's ability to meet its short-term obligations with its most liquid assets. A quick ratio below 1 indicates that the company may have difficulty meeting its short-term liabilities.
In recent periods, the quick ratio has ranged from as low as 0.26 to as high as 1.40. The lowest quick ratio was observed on March 4, 2023, at 0.30, suggesting a potential liquidity concern at that time. This may have been a result of a decrease in liquid assets relative to current liabilities.
On the other hand, the highest quick ratio was recorded on May 30, 2020, at 1.40, indicating the company had a strong ability to cover its short-term obligations with its liquid assets during that period. A quick ratio above 1 is generally considered favorable as it indicates a solid financial position in terms of liquidity.
Overall, fluctuations in the quick ratio of MillerKnoll Inc should be further analyzed to understand the reasons behind the changes and to assess the company's overall liquidity position. A sustained quick ratio below 1 may raise concerns about the company's ability to meet its short-term financial obligations.