MillerKnoll Inc (MLKN)
Debt-to-capital 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 stockholders’ equity | US$ in thousands | 1,310,800 | 1,332,500 | 1,390,900 | 1,420,600 | 1,422,300 | 1,432,600 | 1,433,900 | 1,434,300 | 1,374,800 | 1,427,100 | 1,470,500 | 1,449,200 | 1,486,700 | 860,500 | 909,200 | 854,800 | 803,600 | 652,400 | 908,500 | 844,600 |
| Debt-to-capital ratio | 0.52 | 0.51 | 0.00 | 0.00 | 0.00 | 0.49 | 0.50 | 0.50 | 0.52 | 0.49 | 0.49 | 0.48 | 0.47 | 0.24 | 0.23 | 0.24 | 0.25 | 0.45 | 0.23 | 0.25 |
November 30, 2024 calculation
Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $1,402,800K ÷ ($1,402,800K + $1,310,800K)
= 0.52
The debt-to-capital ratio of MillerKnoll Inc has exhibited some fluctuations over the past few years. As of November 30, 2024, the ratio stands at 0.52, indicating that 52% of the company's capital structure is financed by debt. This represents a slight increase compared to the previous quarter's ratio of 0.51.
It is noteworthy that the debt-to-capital ratio was at a relatively low level of 0.00 in the first part of 2024, signifying either a temporary reduction in debt levels or an increase in capital. However, the ratio had been consistently around 0.50 in the preceding quarters, suggesting a relatively stable financing mix between debt and capital.
Looking further back, there were periods, such as in May 2021 and August 2020, where the ratio dipped to 0.24 and 0.25 respectively, indicating a lower reliance on debt for capital funding during those times. Conversely, in September 2022, the ratio peaked at 0.52, suggesting a higher proportion of debt in the capital structure.
Overall, the trend in MillerKnoll Inc's debt-to-capital ratio over the periods analyzed shows some variability, albeit generally maintaining levels around the 0.50 mark, indicating a balanced approach to financing through a mix of debt and capital resources.