MillerKnoll Inc (MLKN)
Return on assets (ROA)
| May 31, 2024 | Jun 3, 2023 | May 31, 2023 | May 31, 2022 | May 28, 2022 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 82,300 | 42,100 | 42,100 | -19,700 | -27,100 |
| Total assets | US$ in thousands | 4,043,600 | 4,274,800 | 4,274,800 | 4,509,200 | 4,514,000 |
| ROA | 2.04% | 0.98% | 0.98% | -0.44% | -0.60% |
May 31, 2024 calculation
ROA = Net income ÷ Total assets
= $82,300K ÷ $4,043,600K
= 2.04%
Based on the provided data, MillerKnoll Inc's return on assets (ROA) has shown improvement over the years.
On May 28, 2022, the ROA was -0.60%, indicating that the company generated a negative return on its assets. However, by May 31, 2023, the ROA had improved to 0.98%, reflecting a positive return on assets. This positive trend continued into June 3, 2023, with a consistent ROA of 0.98%.
The most recent data point on May 31, 2024, shows a further increase in the ROA to 2.04%, indicating that MillerKnoll Inc is effectively utilizing its assets to generate profits.
Overall, the upward trend in ROA suggests that the company's asset management efficiency and profitability have been improving over the years, which is a positive indicator of its financial performance.