MillerKnoll Inc (MLKN)

Based on the provided solvency ratios for MillerKnoll Inc:

1. Debt-to-assets ratio:
- The company had a debt-to-assets ratio of 0.31 on May 28, 2022, which indicates that 31% of its total assets were financed by debt.
- The ratio decreased to 0.00 on May 31, 2022 and May 31, 2023, suggesting that there was no debt financing of assets during these periods.
- However, on June 3, 2023, and May 31, 2024, the ratio increased to 0.32 and 0.00 respectively, indicating some level of debt financing was reintroduced.

2. Debt-to-capital ratio:
- The debt-to-capital ratio was 0.49 on May 28, 2022, implying that 49% of the company's capital was in the form of debt.
- Similar to the debt-to-assets ratio, the ratio decreased to 0.00 on May 31, 2022 and May 31, 2023, showing no debt in the capital structure during these periods.
- The ratio increased to 0.49 on June 3, 2023, and fell back to 0.00 on May 31, 2024.

3. Debt-to-equity ratio:
- The debt-to-equity ratio was 0.97 on May 28, 2022, suggesting that the company had nearly an equal amount of debt and equity in its capital structure.
- Like the previous ratios, the debt-to-equity ratio dropped to 0.00 on May 31, 2022 and May 31, 2023, indicating no debt relative to equity.
- On June 3, 2023, the ratio was 0.95, slightly lower than the initial level, before returning to 0.00 on May 31, 2024.

4. Financial leverage ratio:
- The financial leverage ratio was 3.16 on both May 28, 2022, and May 31, 2022, signaling that the company had a leverage factor of 3.16.
- The ratio decreased to 2.98 on May 31, 2023, and June 3, 2023, suggesting a slight reduction in financial leverage.
- It further decreased to 2.92 on May 31, 2024, indicating a lower level of financial leverage compared to the earlier periods.

Overall, the solvency ratios show fluctuations in the company's use of debt to finance its operations and investments over the reported periods. The decreasing trend in some ratios indicates a lower reliance on debt financing, potentially reducing financial risk and improving solvency.

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Coverage ratios

Based on the data provided, the interest coverage ratio for MillerKnoll Inc has shown a fluctuating trend over the period. As of May 28, 2022, the company's interest coverage ratio was at a concerning level of 0.58, indicating that MillerKnoll Inc may have had difficulty meeting its interest payment obligations with its operating income.

However, there seems to have been an improvement in the company's interest coverage ratio by May 31, 2023, and June 3, 2023, where the ratio increased to 1.72 and 1.63, respectively. This suggests that MillerKnoll Inc's ability to cover its interest expenses with its operating income has strengthened over time.

By May 31, 2024, the interest coverage ratio further improved to 2.31, indicating a healthier financial position for the company in terms of its ability to meet its interest payment obligations comfortably.

Overall, the trend in MillerKnoll Inc's interest coverage ratio shows a significant improvement over the period under review, suggesting a positive development in the company's financial health and its ability to manage its debt obligations.