MillerKnoll Inc (MLKN)
Debt-to-assets ratio
| Aug 31, 2024 | Mar 2, 2024 | Dec 2, 2023 | Sep 2, 2023 | Jun 3, 2023 | Mar 4, 2023 | Dec 3, 2022 | Sep 3, 2022 | May 28, 2022 | Feb 26, 2022 | Nov 27, 2021 | Aug 28, 2021 | May 29, 2021 | Feb 27, 2021 | Nov 28, 2020 | Aug 29, 2020 | May 30, 2020 | Feb 29, 2020 | Nov 30, 2019 | Aug 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 1,381,600 | — | — | — | 1,365,100 | 1,415,100 | 1,434,800 | 1,484,400 | 1,379,200 | 1,384,900 | 1,340,700 | 1,298,400 | 274,900 | 274,900 | 274,900 | 274,900 | 539,900 | 275,000 | 275,000 | 275,000 |
| Total assets | US$ in thousands | 4,019,100 | 4,095,100 | 4,155,500 | 4,183,200 | 4,274,800 | 4,382,800 | 4,448,100 | 4,447,400 | 4,514,000 | 4,517,700 | 4,465,900 | 4,460,500 | 2,076,800 | 2,054,900 | 2,028,500 | 1,917,100 | 2,053,900 | 1,985,800 | 1,878,000 | 1,784,800 |
| Debt-to-assets ratio | 0.34 | 0.00 | 0.00 | 0.00 | 0.32 | 0.32 | 0.32 | 0.33 | 0.31 | 0.31 | 0.30 | 0.29 | 0.13 | 0.13 | 0.14 | 0.14 | 0.26 | 0.14 | 0.15 | 0.15 |
August 31, 2024 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $1,381,600K ÷ $4,019,100K
= 0.34
The debt-to-assets ratio of MillerKnoll Inc has shown some variability over the periods indicated. The ratio was relatively stable around 0.30 to 0.34 from Aug 31, 2024, to Feb 26, 2022. There was a significant decrease in the ratio to 0.13 as of May 29, 2021, which then increased to 0.26 by Feb 29, 2020. From Aug 31, 2019, to Nov 30, 2019, the ratio fluctuated between 0.14 and 0.15.
The substantial decrease in the debt-to-assets ratio from 0.34 on Aug 31, 2024, to 0.13 on May 29, 2021, suggests a significant reduction in the company's debt relative to its assets, indicating a potentially improved financial position and lower financial risk. However, the subsequent increase in the ratio to 0.26 by Feb 29, 2020, implies a reversal in this trend, with the company possibly taking on more debt relative to its assets.
Overall, fluctuations in the debt-to-assets ratio of MillerKnoll Inc indicate varying levels of leverage and financial risk over the periods analyzed, highlighting the importance of monitoring and managing the company's debt levels to ensure long-term financial stability.