MillerKnoll Inc (MLKN)
Gross profit margin
| Jun 3, 2023 | May 28, 2022 | May 29, 2021 | May 30, 2020 | Jun 1, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 1,430,000 | 1,352,700 | 951,100 | 911,200 | 929,900 |
| Revenue | US$ in thousands | 8,100,200 | 7,841,800 | 4,916,300 | 4,960,700 | 5,122,300 |
| Gross profit margin | 17.65% | 17.25% | 19.35% | 18.37% | 18.15% |
June 3, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $1,430,000K ÷ $8,100,200K
= 17.65%
MillerKnoll Inc's gross profit margin has varied over the past five years, ranging from 34.28% in May 2022 to 38.51% in May 2021. The gross profit margin is a measure of a company's profitability and indicates the percentage of revenue that exceeds the cost of goods sold.
The decline in gross profit margin from 38.51% in 2021 to 34.99% in June 2023 suggests a potential decrease in the company's pricing power or an increase in the cost of goods sold. This could be due to factors such as higher production costs, increased competition, or changes in pricing strategies.
It's essential for MillerKnoll Inc to closely monitor its cost structure and pricing strategies to maintain or improve its gross profit margin. By analyzing the underlying factors contributing to the changes in the gross profit margin, the company can make informed decisions to optimize its profitability.