MLKN
MillerKnoll, Inc.
Furnishings, Fixtures & Appliances
Market Cap$1.11B
5Y Perf.-47.2%
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Stock Comparison
MLKN vs ETH
Revenue, margins, valuation, and 5-year total return — side by side.
ETH
Grayscale Ethereum Mini Trust
Asset Management - Cryptocurrency
Market Cap$554M
5Y Perf.-29.3%
MLKN vs ETH — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | MLKN | ETH |
|---|---|---|
| Industry | Furnishings, Fixtures & Appliances | Asset Management - Cryptocurrency |
| Market Cap | $1.11B | $554M |
| Revenue (TTM) | $3.75B | $615M |
| Net Income (TTM) | $-25M | $47M |
| Gross Margin | 38.7% | 60.5% |
| Operating Margin | 2.0% | 10.1% |
| Forward P/E | 9.0x | 8.5x |
| Total Debt | $1.81B | $124M |
| Cash & Equiv. | $194M | $76M |
MLKN vs ETH — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
MLKN
ETH
| Stock | Jul 24 | May 26 | Return |
|---|---|---|---|
| MillerKnoll, Inc. (MLKN) | 100 | 52.8 | -47.2% |
| Grayscale Ethereum … (ETH) | 100 | 70.7 | -29.3% |
Price return only. Dividends and distributions are not included.
Quick Verdict: MLKN vs ETH
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: ETH leads in 4 of 7 categories, making it the strongest pick for valuation and capital efficiency and profitability and margin quality. MillerKnoll, Inc. is the stronger pick specifically for growth and revenue expansion and capital preservation and lower volatility. This set spans 2 sectors — these stocks serve different portfolio roles, not just different price points.
MLKN
MillerKnoll, Inc.
The Income Pick
MLKN is the clearest fit if your priority is income & stability and growth exposure.
- Dividend streak 0 yrs, beta 1.69, yield 4.6%
- Rev growth 1.1%, EPS growth -147.7%, 3Y rev CAGR -2.4%
- Lower volatility, beta 1.69, current ratio 1.58x
Best for: income & stability and growth exposure
ETH
Grayscale Ethereum Mini Trust
The Banking Pick
ETH carries the broadest edge in this set and is the clearest fit for long-term compounding.
- -18.8% 10Y total return vs MLKN's -23.2%
- Lower P/E (8.5x vs 9.0x)
- 8.4% margin vs MLKN's -0.7%
Best for: long-term compounding
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | MLKN | 1.1% revenue growth vs ETH's -4.9% |
| Value | ETH | Lower P/E (8.5x vs 9.0x) |
| Quality / Margins | ETH | 8.4% margin vs MLKN's -0.7% |
| Stability / Safety | MLKN | Beta 1.69 vs ETH's 2.91 |
| Dividends | MLKN | 4.6% yield; the other pay no meaningful dividend |
| Momentum (1Y) | ETH | +28.9% vs MLKN's +6.9% |
| Efficiency (ROA) | ETH | 6.4% ROA vs MLKN's -0.6%, ROIC 7.6% vs 1.3% |
MLKN vs ETH — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
FY 2025
FY 2025
MLKN vs ETH — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLMLKNLAGGINGETH
ETHGrayscale Ethereum Mi…
2leads
MLKNMillerKnoll, Inc.
3leads
6 Total Categories
CATEGORYLEADERvs ETHMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
ETH4/5
Valuation MetricsMultiples, price ratios, and targets
MLKN4/6
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
ETH8/9
Total Returns1Y, 3Y, 5Y total returns with dividends
Tied
—
Risk & VolatilityBeta, volatility, and downside exposure
MLKN2/2
Analyst OutlookRatings, price targets, and dividends
MLKN1/1
Income & Cash Flow (Last 12 Months)
ETH leads this category, winning 4 of 5 comparable metrics.
Income & Cash Flow (Last 12 Months)
MLKN is the larger business by revenue, generating $3.7B annually — 6.1x ETH's $615M. ETH is the more profitable business, keeping 8.4% of every revenue dollar as net income compared to MLKN's -0.7%.
| Metric | MLKNMillerKnoll, Inc. | ETHGrayscale Ethereu… |
|---|---|---|
| RevenueTrailing 12 months | $3.7B | $615M |
| EBITDAEarnings before interest/tax | $145M | $70M |
| Net IncomeAfter-tax profit | -$25M | $47M |
| Free Cash FlowCash after capex | $70M | $20M |
| Gross MarginGross profit ÷ Revenue | +38.7% | +60.5% |
| Operating MarginEBIT ÷ Revenue | +2.0% | +10.1% |
| Net MarginNet income ÷ Revenue | -0.7% | +8.4% |
| FCF MarginFCF ÷ Revenue | +1.9% | +0.0% |
| Rev. Growth (YoY)Latest quarter vs prior year | -1.6% | — |
| EPS Growth (YoY)Latest quarter vs prior year | -75.5% | -28.1% |
ETH leads this category, winning 4 of 5 comparable metrics.
Valuation Metrics
MLKN leads this category, winning 4 of 6 comparable metrics.
Valuation Metrics
On an enterprise value basis, ETH's 9.7x EV/EBITDA is more attractive than MLKN's 14.3x.
| Metric | MLKNMillerKnoll, Inc. | ETHGrayscale Ethereu… |
|---|---|---|
| Market CapShares × price | $1.1B | $554M |
| Enterprise ValueMkt cap + debt − cash | $2.7B | $602M |
| Trailing P/EPrice ÷ TTM EPS | -30.91x | 10.84x |
| Forward P/EPrice ÷ next-FY EPS est. | 9.00x | 8.55x |
| PEG RatioP/E ÷ EPS growth rate | — | 0.25x |
| EV / EBITDAEnterprise value multiple | 14.29x | 9.71x |
| Price / SalesMarket cap ÷ Revenue | 0.30x | 0.90x |
| Price / BookPrice ÷ Book value/share | 0.85x | 1.16x |
| Price / FCFMarket cap ÷ FCF | 10.92x | 9999.00x |
MLKN leads this category, winning 4 of 6 comparable metrics.
Profitability & Efficiency
ETH leads this category, winning 8 of 9 comparable metrics.
Profitability & Efficiency
ETH delivers a 10.0% return on equity — every $100 of shareholder capital generates $10 in annual profit, vs $-2 for MLKN. ETH carries lower financial leverage with a 0.26x debt-to-equity ratio, signaling a more conservative balance sheet compared to MLKN's 1.36x. On the Piotroski fundamental quality scale (0–9), MLKN scores 5/9 vs ETH's 4/9, reflecting solid financial health.
| Metric | MLKNMillerKnoll, Inc. | ETHGrayscale Ethereu… |
|---|---|---|
| ROE (TTM)Return on equity | -1.8% | +10.0% |
| ROA (TTM)Return on assets | -0.6% | +6.4% |
| ROICReturn on invested capital | +1.3% | +7.6% |
| ROCEReturn on capital employed | +1.5% | +10.5% |
| Piotroski ScoreFundamental quality 0–9 | 5 | 4 |
| Debt / EquityFinancial leverage | 1.36x | 0.26x |
| Net DebtTotal debt minus cash | $1.6B | $47M |
| Cash & Equiv.Liquid assets | $194M | $76M |
| Total DebtShort + long-term debt | $1.8B | $124M |
| Interest CoverageEBIT ÷ Interest expense | 0.66x | 721.00x |
ETH leads this category, winning 8 of 9 comparable metrics.
Total Returns (Dividends Reinvested)
Evenly matched — MLKN and ETH each lead in 3 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in ETH five years ago would be worth $6,969 today (with dividends reinvested), compared to $4,609 for MLKN. Over the past 12 months, ETH leads with a +28.9% total return vs MLKN's +6.9%. The 3-year compound annual growth rate (CAGR) favors MLKN at 3.6% vs ETH's -12.7% — a key indicator of consistent wealth creation.
| Metric | MLKNMillerKnoll, Inc. | ETHGrayscale Ethereu… |
|---|---|---|
| YTD ReturnYear-to-date | -9.3% | -26.1% |
| 1-Year ReturnPast 12 months | +6.9% | +28.9% |
| 3-Year ReturnCumulative with dividends | +11.1% | -33.4% |
| 5-Year ReturnCumulative with dividends | -53.9% | -30.3% |
| 10-Year ReturnCumulative with dividends | -23.2% | -18.8% |
| CAGR (3Y)Annualised 3-year return | +3.6% | -12.7% |
Evenly matched — MLKN and ETH each lead in 3 of 6 comparable metrics.
Risk & Volatility
MLKN leads this category, winning 2 of 2 comparable metrics.
Risk & Volatility
MLKN is the less volatile stock with a 1.69 beta — it tends to amplify market swings less than ETH's 2.91 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. MLKN currently trades 70.7% from its 52-week high vs ETH's 47.6% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | MLKNMillerKnoll, Inc. | ETHGrayscale Ethereu… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 1.69x | 2.91x |
| 52-Week HighHighest price in past year | $23.18 | $45.78 |
| 52-Week LowLowest price in past year | $13.77 | $16.85 |
| % of 52W HighCurrent price vs 52-week peak | +70.7% | +47.6% |
| RSI (14)Momentum oscillator 0–100 | 44.2 | 55.8 |
| Avg Volume (50D)Average daily shares traded | 845K | 4.6M |
MLKN leads this category, winning 2 of 2 comparable metrics.
Analyst Outlook
MLKN leads this category, winning 1 of 1 comparable metric.
Analyst Outlook
Wall Street rates MLKN as "Hold" and ETH as "Hold". MLKN is the only dividend payer here at 4.58% yield — a key consideration for income-focused portfolios.
| Metric | MLKNMillerKnoll, Inc. | ETHGrayscale Ethereu… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Hold | Hold |
| Price TargetConsensus 12-month target | — | — |
| # AnalystsCovering analysts | 6 | 10 |
| Dividend YieldAnnual dividend ÷ price | +4.6% | +0.0% |
| Dividend StreakConsecutive years of raises | 0 | 0 |
| Dividend / ShareAnnual DPS | $0.75 | $0.00 |
| Buyback YieldShare repurchases ÷ mkt cap | +7.6% | 0.0% |
MLKN leads this category, winning 1 of 1 comparable metric.
Key Takeaway
MLKN leads in 3 of 6 categories (Valuation Metrics, Risk & Volatility). ETH leads in 2 (Income & Cash Flow, Profitability & Efficiency). 1 tied.
Best OverallMillerKnoll, Inc. (MLKN)Leads 3 of 6 categories
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MLKN vs ETH: Frequently Asked Questions
10 questions · data-driven answers · updated daily
01Is MLKN or ETH a better buy right now?
For growth investors, MillerKnoll, Inc.
(MLKN) is the stronger pick with 1. 1% revenue growth year-over-year, versus -4. 9% for Grayscale Ethereum Mini Trust (ETH). Grayscale Ethereum Mini Trust (ETH) offers the better valuation at 10. 8x trailing P/E (8. 5x forward), making it the more compelling value choice. Analysts rate MillerKnoll, Inc. (MLKN) a "Hold" — based on 6 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — MLKN or ETH?
On forward P/E, Grayscale Ethereum Mini Trust is actually cheaper at 8.
5x.
03Which is the better long-term investment — MLKN or ETH?
Over the past 5 years, Grayscale Ethereum Mini Trust (ETH) delivered a total return of -30.
3%, compared to -53. 9% for MillerKnoll, Inc. (MLKN). Over 10 years, the gap is even starker: ETH returned -18. 8% versus MLKN's -23. 2%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — MLKN or ETH?
By beta (market sensitivity over 5 years), MillerKnoll, Inc.
(MLKN) is the lower-risk stock at 1. 69β versus Grayscale Ethereum Mini Trust's 2. 91β — meaning ETH is approximately 72% more volatile than MLKN relative to the S&P 500. On balance sheet safety, Grayscale Ethereum Mini Trust (ETH) carries a lower debt/equity ratio of 26% versus 136% for MillerKnoll, Inc. — giving it more financial flexibility in a downturn.
05Which is growing faster — MLKN or ETH?
By revenue growth (latest reported year), MillerKnoll, Inc.
(MLKN) is pulling ahead at 1. 1% versus -4. 9% for Grayscale Ethereum Mini Trust (ETH). On earnings-per-share growth, the picture is similar: Grayscale Ethereum Mini Trust grew EPS -19. 3% year-over-year, compared to -147. 7% for MillerKnoll, Inc.. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — MLKN or ETH?
Grayscale Ethereum Mini Trust (ETH) is the more profitable company, earning 8.
4% net margin versus -1. 0% for MillerKnoll, Inc. — meaning it keeps 8. 4% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: ETH leads at 10. 1% versus 1. 4% for MLKN. At the gross margin level — before operating expenses — ETH leads at 60. 5%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
07Is MLKN or ETH more undervalued right now?
On forward earnings alone, Grayscale Ethereum Mini Trust (ETH) trades at 8.
5x forward P/E versus 9. 0x for MillerKnoll, Inc. — 0. 5x cheaper on a one-year earnings basis.
08Which pays a better dividend — MLKN or ETH?
In this comparison, MLKN (4.
6% yield) pays a dividend. ETH does not pay a meaningful dividend and should not be held primarily for income.
09Is MLKN or ETH better for a retirement portfolio?
For long-horizon retirement investors, MillerKnoll, Inc.
(MLKN) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (4. 6% yield). Grayscale Ethereum Mini Trust (ETH) carries a higher beta of 2. 91 — meaning larger drawdowns in market downturns, which matters significantly when you cannot wait years for a recovery. Both have compounded well over 10 years (MLKN: -23. 2%, ETH: -18. 8%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
10What are the main differences between MLKN and ETH?
These companies operate in different sectors (MLKN (Consumer Cyclical) and ETH (Financial Services)), which means they face different economic cycles, regulatory environments, and macro sensitivities — making direct comparison nuanced.
In terms of investment character: MLKN is a small-cap income-oriented stock; ETH is a small-cap deep-value stock. MLKN pays a dividend while ETH does not, making them suitable for different income and tax situations. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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Revenue Growth>
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