MillerKnoll Inc (MLKN)
Gross profit margin
| 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 | Aug 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross profit (ttm) | US$ in thousands | 1,403,400 | 1,421,800 | 1,420,400 | 1,416,000 | 1,430,000 | 1,457,800 | 1,461,700 | 1,447,100 | 1,352,700 | 1,196,300 | 1,087,600 | 979,000 | 951,100 | 890,900 | 903,600 | 914,900 | 911,300 | 993,600 | 971,100 | 951,000 |
| Revenue (ttm) | US$ in thousands | 3,543,600 | 7,706,000 | 7,817,700 | 7,936,600 | 8,100,200 | 4,176,800 | 4,230,500 | 4,199,000 | 3,907,600 | 3,428,600 | 2,996,200 | 2,601,900 | 2,454,300 | 2,308,500 | 2,384,400 | 2,432,800 | 2,477,600 | 2,672,900 | 2,629,100 | 2,610,500 |
| Gross profit margin | 39.60% | 18.45% | 18.17% | 17.84% | 17.65% | 34.90% | 34.55% | 34.46% | 34.62% | 34.89% | 36.30% | 37.63% | 38.75% | 38.59% | 37.90% | 37.61% | 36.78% | 37.17% | 36.94% | 36.43% |
August 31, 2024 calculation
Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $1,403,400K ÷ $3,543,600K
= 39.60%
MillerKnoll Inc's gross profit margin has shown some fluctuations over the past few quarters. From Nov 2019 to Mar 2023, the gross profit margin ranged from 34.46% to 39.60%, indicating relatively healthy profitability during this period. However, there was a significant drop in the gross profit margin in Jun 2023, which was sustained until Mar 2024, with margins below 20%.
This decline may raise concerns about the company's ability to effectively manage its cost of goods sold and maintain profitability. It would be worth investigating the reasons behind this sharp decrease in gross profit margin to identify any underlying issues affecting the company's profitability.
From Aug 2024, the gross profit margin increased to 39.60%, showing signs of improvement. This rebound could be a positive indicator that the company has addressed some of the issues impacting its profitability.
Overall, monitoring the gross profit margin trend over time is essential for stakeholders to assess MillerKnoll Inc's performance and financial health.