MillerKnoll Inc (MLKN)
Gross profit margin
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross profit (ttm) | US$ in thousands | 1,422,600 | 1,398,100 | 1,402,700 | 1,362,700 | 1,398,400 | 1,418,000 | 1,439,100 | 1,460,200 | 1,442,900 | 1,425,600 | 1,403,100 | 1,380,600 | 1,393,500 | 1,406,400 | 1,442,900 | 1,479,400 | 1,499,600 | 1,514,500 | 1,479,200 | 1,446,600 |
| Revenue (ttm) | US$ in thousands | 3,669,900 | 3,597,000 | 3,574,700 | 3,476,600 | 3,544,800 | 3,605,400 | 3,650,000 | 3,695,400 | 7,789,600 | 7,796,800 | 7,863,900 | 7,930,900 | 3,955,600 | 4,065,800 | 4,162,300 | 4,256,400 | 4,308,300 | 4,341,900 | 4,309,300 | 4,249,800 |
| Gross profit margin | 38.76% | 38.87% | 39.24% | 39.20% | 39.45% | 39.33% | 39.43% | 39.51% | 18.52% | 18.28% | 17.84% | 17.41% | 35.23% | 34.59% | 34.67% | 34.76% | 34.81% | 34.88% | 34.33% | 34.04% |
May 31, 2025 calculation
Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $1,422,600K ÷ $3,669,900K
= 38.76%
The gross profit margin of MillerKnoll Inc has demonstrated notable variability over the analyzed periods. Initially, the margin remained relatively stable in 2022, hovering around the low to mid-34% range, with values such as 34.04% in May 2022, gradually increasing to approximately 34.88% by September 2022. Throughout late 2022 and early 2023, the margin maintained a generally consistent level, fluctuating between approximately 34.76% and 34.81%, indicating moderate operational stability in this period.
In early 2023, the gross profit margin remained steady at around 34.67% to 34.59%, reflecting sustained gross profitability. However, a significant shift is observed starting in mid-2023; the margin drops sharply to 17.41% in June 2023 and remains near this lower level in subsequent months (17.84% in August 2023 and 18.28% in September 2023), suggesting a substantial deterioration in gross profit performance or a change in cost structure or revenue recognition during this interval.
Conversely, a remarkable recovery occurs later in the timeline, with the gross margin increasing sharply to 39.51% in December 2023, and maintaining around 39.43% in early 2024. This resurgence indicates a notable improvement in gross profitability, potentially due to operational adjustments, product mix shifts, or pricing strategies.
In the most recent periods, the gross profit margin remains relatively stable, fluctuating slightly but generally maintaining levels near 39%, with values such as 39.45% in May 2024, 39.20% in August 2024, and 39.24% in November 2024. Slight decreases are observed toward the end of the forecast horizon, with margins around 38.87% in February 2025 and 38.76% in May 2025.
Overall, the trend reflects periods of stability in 2022 and early 2023, a significant decline mid-2023 that corrects later in 2023 and early 2024, followed by a sustained periods of higher, stable gross profit margins. These fluctuations suggest external or internal factors influencing cost management, pricing, or product portfolio during the analyzed timeframe.