MillerKnoll Inc (MLKN)
Quick ratio
| May 31, 2025 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash | US$ in thousands | 193,700 | 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 |
| Short-term investments | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 0 | 7,700 |
| Receivables | US$ in thousands | 377,100 | 346,000 | 371,500 | 319,600 | 330,500 | 318,700 | 318,700 | 344,800 | 344,800 | 323,100 | 323,100 | 363,500 | 363,500 | — | 389,700 | — | 398,000 | — | 372,300 | 380,900 |
| Total current liabilities | US$ in thousands | 703,800 | 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 |
| Quick ratio | 0.81 | 0.76 | 0.84 | 0.78 | 0.80 | 0.80 | 0.80 | 0.80 | 0.80 | 0.77 | 0.77 | 0.84 | 0.84 | 0.30 | 0.83 | 0.26 | 0.77 | 0.28 | 0.76 | 0.71 |
May 31, 2025 calculation
Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($193,700K
+ $—K
+ $377,100K)
÷ $703,800K
= 0.81
The analysis of MillerKnoll Inc.'s quick ratio over the specified periods reveals a consistent pattern indicating prudent liquidity management. Starting from May 31, 2022, with a quick ratio of 0.71, there is a gradual upward trend observed, reaching a peak of 0.84 on May 31 and June 3, 2023. This suggests an improved capacity to meet short-term liabilities with highly liquid assets during this period.
Throughout 2022, the quick ratio oscillated around the 0.26 to 0.77 range, reflecting fluctuations in liquid asset levels or short-term obligations. Notably, the ratio sharply declined to 0.26 on December 3, 2022, after previously being at 0.77 on November 30, 2022, indicating a temporary decrease in liquidity or an increase in current liabilities without a commensurate increase in liquid assets.
Starting in early 2023, the quick ratio shows a marked improvement, maintaining levels above 0.80 from February 28, 2023, onward. The ratio remained stable at approximately 0.80 through most of 2023 and into early 2024, signifying a consistently healthy liquidity position and an ability to quickly settle short-term obligations without relying on inventory sales.
The ratio exhibited minor fluctuations in 2024, maintaining values around 0.78 to 0.84, with an average near 0.80. As of the latest data points in May 2025, the ratio stood at 0.81, indicating stable liquidity and efficient management of liquid assets relative to immediate liabilities.
Overall, MillerKnoll Inc.'s quick ratio demonstrates a trend toward increased liquidity starting from late 2022, with sustained levels well above the common liquidity threshold of 1.0, suggesting cautious but stable liquidity management. The company appears capable of meeting short-term obligations without excessive reliance on inventories or other less liquid current assets, reflecting a conservative approach in liquidity risk mitigation.