MillerKnoll Inc (MLKN)
Debt-to-assets ratio
| Nov 30, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 1,402,800 | 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 |
| Total assets | US$ in thousands | 4,036,200 | 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 |
| Debt-to-assets ratio | 0.35 | 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 |
November 30, 2024 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $1,402,800K ÷ $4,036,200K
= 0.35
MillerKnoll Inc has shown a relatively stable debt-to-assets ratio over the past few years, ranging from 0.00 to 0.35. A lower debt-to-assets ratio indicates a lower level of financial risk as it reflects the proportion of the company's assets financed by debt. In this case, the company had no debt relative to its assets in some periods, which could signify a strong financial position with little reliance on debt financing. However, it is important to note that a very low ratio could also indicate underutilization of debt, potentially missing out on leveraging opportunities for growth or tax advantages. Overall, the trend in the debt-to-assets ratio for MillerKnoll Inc suggests a cautious approach to debt management, balancing between financial stability and growth opportunities.