MillerKnoll Inc (MLKN)
Debt-to-assets ratio
| May 31, 2024 | Jun 3, 2023 | May 31, 2023 | May 31, 2022 | May 28, 2022 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | — | 1,365,100 | — | — | 1,379,200 |
| Total assets | US$ in thousands | 4,043,600 | 4,274,800 | 4,274,800 | 4,509,200 | 4,514,000 |
| Debt-to-assets ratio | 0.00 | 0.32 | 0.00 | 0.00 | 0.31 |
May 31, 2024 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $4,043,600K
= 0.00
The debt-to-assets ratio of MillerKnoll Inc has displayed some fluctuations over the years based on the available data. As of May 28, 2022, the ratio was 0.31, indicating that approximately 31% of the company's assets were financed by debt. Subsequently, the ratio dropped to 0.00 by May 31, 2022, suggesting that the company had no debt relative to its assets.
This trend continued into the next fiscal year where the debt-to-assets ratio remained at 0.00 as of May 31, 2023. However, by June 3, 2023, the ratio increased to 0.32, indicating that around 32% of the company's assets were funded by debt. The ratio then decreased back to 0.00 by May 31, 2024.
Overall, it is apparent that MillerKnoll Inc has experienced varying levels of debt utilization in relation to its total assets during the periods analyzed. It is worth noting that having a lower debt-to-assets ratio generally signifies lower financial risk and greater financial stability for the company.