MillerKnoll Inc (MLKN)
Financial leverage ratio
| May 31, 2024 | Jun 3, 2023 | May 31, 2023 | May 31, 2022 | May 28, 2022 | ||
|---|---|---|---|---|---|---|
| Total assets | US$ in thousands | 4,043,600 | 4,274,800 | 4,274,800 | 4,509,200 | 4,514,000 |
| Total stockholders’ equity | US$ in thousands | 1,385,100 | 1,432,600 | 1,432,600 | 1,427,100 | 1,427,100 |
| Financial leverage ratio | 2.92 | 2.98 | 2.98 | 3.16 | 3.16 |
May 31, 2024 calculation
Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $4,043,600K ÷ $1,385,100K
= 2.92
The financial leverage ratio of MillerKnoll Inc has shown a consistent trend over the past years. As of May 28, 2022, and May 31, 2022, the ratio was 3.16, indicating that the company had a relatively high level of financial leverage. However, there was a slight decrease in the ratio to 2.98 as of May 31, 2023, and this trend continued through June 3, 2023. By May 31, 2024, the financial leverage ratio had further improved to 2.92, suggesting a reduction in the company's reliance on debt financing compared to the earlier periods. Overall, these changes in the financial leverage ratio demonstrate a potential strategic shift towards a more balanced capital structure and reduced financial risk for MillerKnoll Inc.