MillerKnoll Inc (MLKN)

Debt-to-assets ratio

May 31, 2025 May 31, 2024 Jun 3, 2023 May 31, 2023 May 31, 2022
Long-term debt US$ in thousands 1,365,100
Total assets US$ in thousands 4,043,600 4,274,800 4,274,800 4,509,200
Debt-to-assets ratio 0.00 0.32 0.00 0.00

May 31, 2025 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $—K ÷ $—K
= —

The debt-to-assets ratio for MillerKnoll Inc. has exhibited notable fluctuation over the observed period. As of May 31, 2022, and May 31, 2023, the company’s debt-to-assets ratio was recorded at 0.00, indicating that at these points in time, the firm had no debt relative to its total assets. This suggests that during these periods, MillerKnoll's asset base was entirely financed through equity or other non-debt sources, reflecting a potentially conservative capital structure with minimal reliance on debt financing.

However, a significant change is observed as of June 3, 2023, when the ratio increases to 0.32. This indicates that shortly after the May 2023 measurement, the company took on debt amounting to approximately 32% of its total assets. The increase points to a period of leveraged activity or restructuring that involved debt issuance, possibly to fund expansion, acquisitions, or other strategic initiatives.

By May 31, 2024, the debt-to-assets ratio reverts back to 0.00, implying that the company either repaid its debt or restructured its balance sheet to eliminate leverage by this date. The absence of debt at this point suggests a return to a debt-free capital structure.

For the subsequent period, May 31, 2025, the data is unavailable or unspecified, denoted by a dash. This lack of data prevents further analysis for this date.

In summary, MillerKnoll Inc. maintained a debt-free status at the beginning of the observed period, experienced a mid-year increase in leverage in June 2023, and subsequently reverted to a debt-free position by May 2024. The transient nature of the debt-to-assets ratio highlights a dynamic approach to debt management, potentially driven by specific strategic or operational needs during that interval.