MillerKnoll Inc (MLKN)
Financial leverage ratio
| May 31, 2025 | Feb 28, 2025 | Nov 30, 2024 | Aug 31, 2024 | May 31, 2024 | Mar 2, 2024 | Feb 29, 2024 | Dec 2, 2023 | Nov 30, 2023 | Sep 2, 2023 | Aug 31, 2023 | Jun 3, 2023 | May 31, 2023 | Mar 4, 2023 | Feb 28, 2023 | Dec 3, 2022 | Nov 30, 2022 | Sep 3, 2022 | Aug 31, 2022 | May 31, 2022 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | US$ in thousands | 3,950,200 | 3,895,400 | 4,036,200 | 4,019,100 | 4,043,600 | 4,095,100 | 4,095,100 | 4,155,500 | 4,155,500 | 4,183,200 | 4,183,200 | 4,274,800 | 4,274,800 | 4,382,800 | 4,382,800 | 4,448,100 | 4,448,100 | 4,447,400 | 4,447,400 | 4,514,000 |
| Total stockholders’ equity | US$ in thousands | 1,335,100 | 1,254,100 | 1,310,800 | 1,332,500 | 1,385,100 | 1,390,900 | 1,390,900 | 1,420,600 | 1,420,600 | 1,422,300 | 1,422,300 | 1,432,600 | 1,432,600 | 1,433,900 | 1,433,900 | 1,434,300 | 1,434,300 | 1,374,800 | 1,374,800 | 1,427,100 |
| Financial leverage ratio | 2.96 | 3.11 | 3.08 | 3.02 | 2.92 | 2.94 | 2.94 | 2.93 | 2.93 | 2.94 | 2.94 | 2.98 | 2.98 | 3.06 | 3.06 | 3.10 | 3.10 | 3.23 | 3.23 | 3.16 |
May 31, 2025 calculation
Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $3,950,200K ÷ $1,335,100K
= 2.96
The financial leverage ratio of MillerKnoll Inc has demonstrated a relatively stable but gradually declining trend over the period from May 2022 to May 2025. Initially, the ratio stood at 3.16 in May 2022 and increased marginally to a peak of approximately 3.23 in August and September 2022. This suggests a period where the company’s debt levels compared to its equity were relatively high but stable.
Subsequent data indicates a slow but consistent decrease in the leverage ratio, reaching a low of around 2.93 in late 2023. This decline signifies a gradual reduction in financial leverage, potentially reflecting efforts to improve the company's debt structure or an increase in equity relative to debt.
From late 2023 onwards, the ratio fluctuates slightly but remains within a narrow range, roughly between 2.93 and 3.11. Notably, the ratio increases slightly again in late 2024 and early 2025, reaching approximately 3.11 before declining marginally to about 2.96 in May 2025.
Overall, the trend indicates that MillerKnoll Inc transitioned toward a less leveraged position over the observed period, with the ratio moving from above 3.2 down toward just below 3.0. This pattern suggests a possible strategic move to reduce reliance on debt financing, thereby lowering financial risk. The stability in the ratio across the reported periods reflects a disciplined approach to financial management, maintaining leverage within a steady range while gradually decreasing overall leverage levels over the time frame examined.