MillerKnoll Inc (MLKN)
Profitability ratios
Return on sales
| 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 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% |
| Operating profit margin | 1.38% | 1.62% | 5.12% | 4.97% | 6.15% | 5.98% | 5.84% | 5.45% | 1.96% | 1.33% | 1.08% | 0.35% | 1.38% | 2.01% | 2.67% | 3.82% | 4.32% | 4.71% | 3.87% | 3.80% |
| Pretax margin | -0.59% | -1.41% | 2.15% | 1.71% | 2.93% | 3.92% | 3.74% | 3.52% | 1.03% | 0.39% | 0.12% | -0.12% | 0.44% | 1.09% | 1.82% | 2.53% | 3.18% | 3.63% | 3.31% | 2.99% |
| Net profit margin | -1.01% | 0.84% | 1.82% | 1.53% | 2.48% | 3.09% | 2.90% | 2.72% | 0.86% | 0.44% | 0.23% | 0.03% | 0.47% | 0.82% | 1.42% | 1.96% | 2.07% | 2.18% | 1.89% | 1.65% |
The profitability ratios for MillerKnoll Inc., as presented, reveal fluctuations and trends over the periods analyzed. The gross profit margin has historically hovered around the mid-30% range, with relatively stable margins from May 2022 to early 2023, generally around 34% to 35%. Notable anomalies occurred in late 2023 and early 2024, where the gross profit margin surged sharply to approximately 39.5%, indicating an improvement in core profitability, possibly due to better cost management or pricing strategies. Subsequently, the gross margin stabilized around 38.8% to 39.2% through mid-2025.
Operating profit margins demonstrated more volatility. From early 2022 through mid-2023, margins ranged modestly between approximately 1.38% and 4.71%, with a declining trend evident into early 2023, reaching as low as 0.35%. During late 2023, a noteworthy increase occurred, with margins rising back to nearly 6.15% by mid-2024, reflecting improved operational efficiency or cost controls. However, these margins declined again by mid-2025, returning to around 1.38%, comparable to the initial levels observed in 2022.
The pretax margins followed a similar pattern, initially maintaining slight positive values, then declining into negative territory in June 2023 before rebounding to over 3.9% by early 2024. This indicates that the company faced temporary challenges impacting pre-tax profitability but managed to recover these margins in the subsequent periods. Nevertheless, the pretax margins again trended downward in mid-2025, ending slightly below zero with a figure of -0.59%.
Net profit margins mirrored these patterns, starting from modest positive values around 1.65% in mid-2022, reaching peaks near 2.18%, before declining sharply to below 1% by mid-2023. There was a modest recovery through late 2023 and early 2024, with margins approaching around 2.9%, but a downturn was observed again, ending the period at -1.01% in mid-2025.
In summary, MillerKnoll Inc.'s profitability ratios indicate periods of stability interspersed with fluctuations, likely attributable to market conditions, cost management, operational efficiencies, or pricing strategies. The recent data suggests challenges in maintaining sustained profitability, especially towards the later periods where margins have declined or turned negative, highlighting a need for strategic adjustments to improve overall profitability metrics.
Return on investment
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating return on assets (Operating ROA) | 1.28% | 1.49% | 4.54% | 4.30% | 5.39% | 5.27% | 5.21% | 4.85% | 3.67% | 2.48% | 2.02% | 0.64% | 1.27% | 1.86% | 2.54% | 3.66% | 4.19% | 4.60% | 3.75% | 3.58% |
| Return on assets (ROA) | -0.93% | 0.77% | 1.61% | 1.32% | 2.17% | 2.72% | 2.59% | 2.42% | 1.61% | 0.82% | 0.43% | 0.06% | 0.44% | 0.76% | 1.34% | 1.88% | 2.00% | 2.13% | 1.83% | 1.55% |
| Return on total capital | 3.78% | 5.56% | 14.98% | 13.75% | 16.45% | 16.46% | 16.18% | 15.01% | 11.52% | 10.20% | 8.73% | 4.83% | 11.20% | 5.88% | 13.68% | 7.00% | 16.59% | 8.25% | 16.24% | 13.71% |
| Return on equity (ROE) | -2.76% | 2.40% | 4.96% | 3.98% | 6.34% | 8.01% | 7.61% | 7.07% | 4.70% | 2.42% | 1.27% | 0.17% | 1.30% | 2.34% | 4.11% | 5.83% | 6.21% | 6.88% | 5.92% | 4.91% |
The profitability ratios of MillerKnoll Inc over the analyzed period demonstrate notable fluctuations, reflecting dynamic operational and financial performance.
Operating Return on Assets (Operating ROA):
The Operating ROA exhibits an overall decline from May 2022 through May 2023, starting at 3.58% and peaking at 4.60% in early September 2022. Following this peak, a downward trend ensues, reaching a low of approximately 0.64% in June 2023. Subsequently, there is a partial recovery, with the Operating ROA rising notably to 5.27% by March 2024 before experiencing a slight decline to around 1.28%-1.49% in early 2025. This pattern suggests periods of operational strain, likely influenced by market conditions or internal challenges, with a brief resurgence in profitability in early 2024.
Return on Assets (ROA):
ROA follows a similar trend, declining from 1.55% in May 2022 to a nadir of 0.06% in June 2023. Post this trough, the ratio increases steadily, reaching approximately 2.72% by March 2024. However, after this peak, a decline resumes, culminating in a negative ROA of -0.93% in May 2025. This indicates periods where the company's net income was insufficient to generate positive returns relative to its total assets, with recent years reflecting diminished profitability or losses.
Return on Total Capital:
This ratio displays greater volatility, starting at 13.71% in May 2022, rising to a high of 16.59% in November 2022, then declining sharply to approximately 4.83% by June 2023. The ratio recovers somewhat, reaching over 16% again in early 2024 before gradually declining to around 3.78% by May 2025. These fluctuations suggest varying levels of efficiency in generating returns from all invested capital, with periods of strong performance interspersed with notable declines.
Return on Equity (ROE):
ROE starts at 4.91% in May 2022, peaks at 8.01% in early March 2024, and declines thereafter, turning negative at -2.76% in May 2025. The initial increase indicates improved shareholder returns during that period, but the later negative ratio signifies periods of diminished or negative net income attributable to shareholders, reflecting challenges in profit generation or increased financial leverage impacts.
Overall Interpretation:
The data indicates that MillerKnoll Inc experienced a wave of operating and net profitability challenges throughout the period, with intermittent recoveries. Periods of declining profitability ratios point to operational difficulties, increased costs, or competitive pressures. The substantial fluctuation in ratios such as ROA and ROE underscores an inconsistent profit-making capacity, with recent years notably reflecting decreased or negative returns. The resilience seen in certain ratios in early 2024 may suggest strategic adjustments or market conditions temporarily favoring performance, but the subsequent downturn highlights ongoing profitability concerns.