MillerKnoll Inc (MLKN)
Solvency ratios
| 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 | May 28, 2022 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt-to-assets ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.32 | 0.00 | 0.32 | 0.00 | 0.32 | 0.00 | 0.33 | 0.00 | 0.00 | 0.31 |
| Debt-to-capital ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.49 | 0.00 | 0.50 | 0.00 | 0.50 | 0.00 | 0.52 | 0.00 | 0.00 | 0.49 |
| Debt-to-equity ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.95 | 0.00 | 0.99 | 0.00 | 1.00 | 0.00 | 1.08 | 0.00 | 0.00 | 0.97 |
| Financial leverage ratio | 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 | 3.16 |
MillerKnoll Inc's solvency ratios indicate a strong financial position with consistently low debt levels. The Debt-to-assets ratio has fluctuated between 0.00 and 0.33 over the reporting period, with a generally low average indicating the company's ability to finance its assets primarily through equity rather than debt.
Similarly, the Debt-to-capital ratio has remained low, ranging from 0.00 to 0.52, suggesting that the company is not heavily reliant on debt to fund its operations or growth.
The Debt-to-equity ratio also demonstrates a stable and low level of indebtedness, varying between 0.00 and 1.08. This ratio indicates that the company has a strong equity base relative to its debt obligations.
The Financial leverage ratio, which measures the extent to which the company is using debt to finance its assets, shows a decreasing trend from 3.16 to 2.92, reflecting a more conservative approach to leverage.
Overall, MillerKnoll Inc's solvency ratios suggest a healthy financial position with a strong balance sheet and a prudent approach to managing debt levels.
Coverage ratios
| 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 | May 28, 2022 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest coverage | 0.89 | 2.53 | 2.43 | 3.02 | 3.00 | 2.91 | 2.73 | 2.09 | 1.89 | 1.62 | 1.77 | 2.15 | 2.24 | 2.71 | 2.87 | 3.68 | 3.98 | 4.24 | 4.23 | 3.91 |
The interest coverage ratio for MillerKnoll Inc has shown a declining trend over the period from May 28, 2022, to February 28, 2025. The ratio decreased from 3.91 on May 28, 2022, to 0.89 on February 28, 2025. This indicates a deterioration in the company's ability to cover its interest expenses with its operating income over time.
A higher interest coverage ratio is generally preferred by investors and lenders as it suggests that the company is better positioned to meet its interest obligations. Conversely, a decreasing trend in the interest coverage ratio may raise concerns about the company's financial health and ability to service its debt.
It is important for MillerKnoll Inc to closely monitor its interest coverage ratio and take necessary steps to improve it, such as increasing operating income, reducing interest expenses, or refinancing debt at lower rates. Failure to address this declining trend in the interest coverage ratio could potentially lead to increased financial distress and impact the company's overall financial stability.