MillerKnoll Inc (MLKN)
Debt-to-capital 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 stockholders’ equity | US$ in thousands | 1,275,800 | 1,385,100 | 1,432,600 | 1,432,600 | 1,427,100 |
| Debt-to-capital ratio | 0.00 | 0.00 | 0.49 | 0.00 | 0.00 |
May 31, 2025 calculation
Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $—K ÷ ($—K + $1,275,800K)
= 0.00
The debt-to-capital ratio of MillerKnoll Inc demonstrates notable variability over the periods analyzed. As of May 31, 2022, and May 31, 2023, the ratio stands at 0.00, indicating that the company's capital structure was entirely equity-financed during these periods, with no reliance on debt. This suggests a potentially conservative approach to leverage, or possibly a timing that reflects minimal or no short-term debt obligations at these points.
However, by June 3, 2023, the ratio increases significantly to 0.49. This jump indicates that approximately 49% of the company's capital structure is financed through debt, reflecting a substantial shift in leverage within a relatively short period. Such an increase might be attributable to new debt issuance or other financing activities undertaken shortly before or around this date, possibly aimed at supporting operational needs or strategic initiatives.
Looking ahead, the data for May 31, 2024, again reports a debt-to-capital ratio of 0.00. This suggests a reversion back to zero debt financing, perhaps through debt repayment, restructuring, or capital management strategies intended to reduce leverage levels. The lack of available data beyond this point, specifically for May 31, 2025, marked as an en dash, indicates either unavailable or unreported information, precluding further analysis for that period.
In summary, the observed pattern reflects periods of no debt dependency interspersed with a brief but significant increase in leverage, highlighting a dynamic approach to capital structure and financial management. The shifts could be reflective of strategic refinancing, operational exigencies, or other financial planning decisions undertaken by MillerKnoll Inc during this timeframe.