MillerKnoll, Inc. (MLKN) Financial Ratios
30 years of historical data (1996–2025) · Consumer Cyclical · Furnishings, Fixtures & Appliances
EV/EBITDA
↑
14.29
+16% vs avg
5yr avg: 12.34
30Y Low3.9·High57.5
P/FCF
↑
10.92
+3% vs avg
5yr avg: 10.56
30Y Low7.4·High37.4
P/B Ratio
↓
0.85
↓-43% vs avg
5yr avg: 1.49
30Y Low0.7·High97.0
ROE
↓
-2.6%
↑-153% vs avg
5yr avg: 5.0%
30Y Low-18%·High433%
Debt/EBITDA
↑
9.49
↑+49% vs avg
5yr avg: 6.37
30Y Low0.6·High15.0
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
MLKN Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
MillerKnoll, Inc. currently has a negative P/E ratio, indicating the company is operating at a loss on a trailing-twelve-month basis. On a free-cash-flow basis, the stock trades at 10.9x P/FCF, roughly in line with the 5-year average of 10.6x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.1B | $1.2B | $2.0B | $1.0B | $2.2B | $2.8B | $1.4B | $2.1B | $2.0B | $1.9B | $1.9B |
| Enterprise Value | $2.7B | $2.8B | $3.6B | $2.7B | $3.9B | $3.0B | $1.7B | $2.2B | $2.0B | $2.0B | $2.1B |
| P/E Ratio → | -30.91 | — | 24.85 | 24.64 | — | 16.26 | — | 13.14 | 15.45 | 15.39 | 14.01 |
| P/S Ratio | 0.30 | 0.32 | 0.56 | 0.25 | 0.56 | 1.15 | 0.55 | 0.82 | 0.83 | 0.84 | 0.85 |
| P/B Ratio | 0.85 | 0.87 | 1.40 | 0.67 | 1.44 | 3.06 | 1.96 | 2.85 | 2.84 | 3.12 | 3.47 |
| P/FCF | 10.92 | 11.44 | 7.45 | 12.94 | — | 10.42 | 8.88 | 16.75 | 20.60 | 16.64 | 15.29 |
| P/OCF | 5.31 | 5.56 | 5.79 | 6.32 | — | 8.54 | 6.12 | 9.74 | 11.86 | 9.45 | 9.11 |
P/E links to full P/E history page with 30-year chart
MLKN EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
MillerKnoll, Inc.'s enterprise value stands at 14.3x EBITDA, 16% above its 5-year average of 12.3x. The Consumer Cyclical sector median is 11.4x, placing the stock at a 26% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.76 | 0.98 | 0.65 | 1.00 | 1.20 | 0.67 | 0.87 | 0.86 | 0.88 | 0.91 |
| EV / EBITDA | 14.29 | 14.57 | 11.08 | 9.65 | 17.13 | 9.26 | 3.93 | 8.09 | 8.37 | 8.07 | 7.76 |
| EV / EBIT | 54.04 | 50.77 | 20.31 | 12.39 | 135.12 | 12.23 | — | 10.56 | 11.34 | 9.91 | 9.71 |
| EV / FCF | — | 27.35 | 13.04 | 33.62 | — | 10.87 | 10.95 | 17.73 | 21.34 | 17.55 | 16.39 |
MLKN Profitability
Margins and return-on-capital ratios measuring operating efficiency
MillerKnoll, Inc. earns an operating margin of 1.4%, roughly in line with the Consumer Cyclical sector average. Operating margins have compressed from 3.0% to 1.4% over the past 3 years, signaling potential cost pressures or competitive headwinds. A negative ROE of -2.6% indicates the company is currently destroying shareholder equity. ROIC of 1.3% represents below-average returns on invested capital versus a sector median of 5.8%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 38.8% | 38.8% | 39.1% | 35.0% | 34.3% | 38.5% | 36.6% | 36.2% | 36.7% | 37.9% | 38.6% |
| Operating Margin | 1.4% | 1.4% | 4.6% | 3.0% | 1.0% | 9.4% | 13.9% | 7.9% | 7.5% | 8.4% | 9.3% |
| Net Profit Margin | -1.0% | -1.0% | 2.3% | 1.0% | -0.7% | 7.1% | -0.6% | 6.3% | 5.4% | 5.4% | 6.0% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -2.6% | -2.6% | 5.5% | 2.7% | -2.2% | 21.6% | -2.0% | 22.4% | 19.6% | 21.3% | 27.1% |
| ROA | -0.9% | -0.9% | 2.0% | 1.0% | -0.8% | 8.5% | -0.8% | 10.5% | 9.2% | 9.8% | 11.3% |
| ROIC | 1.3% | 1.3% | 4.1% | 2.8% | 1.4% | 16.9% | 27.7% | 18.8% | 18.0% | 20.4% | 23.1% |
| ROCE | 1.5% | 1.5% | 4.8% | 3.4% | 1.5% | 15.0% | 26.0% | 18.6% | 17.9% | 21.6% | 25.1% |
MLKN Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
MillerKnoll, Inc. carries a Debt/EBITDA ratio of 9.5x, which is highly leveraged (116% above the sector average of 4.4x). Net debt stands at $1.6B ($1.8B total debt minus $194M cash). Interest coverage of just 0.7x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.36 | 1.36 | 1.21 | 1.21 | 1.28 | 0.56 | 1.11 | 0.38 | 0.40 | 0.33 | 0.40 |
| Debt / EBITDA | 9.49 | 9.49 | 5.47 | 6.74 | 8.54 | 1.62 | 1.81 | 1.02 | 1.13 | 0.80 | 0.84 |
| Net Debt / Equity | — | 1.21 | 1.05 | 1.07 | 1.13 | 0.13 | 0.46 | 0.17 | 0.10 | 0.17 | 0.25 |
| Net Debt / EBITDA | 8.47 | 8.47 | 4.75 | 5.93 | 7.54 | 0.38 | 0.74 | 0.44 | 0.29 | 0.42 | 0.52 |
| Debt / FCF | — | 15.91 | 5.59 | 20.68 | — | 0.45 | 2.07 | 0.98 | 0.74 | 0.90 | 1.09 |
| Interest Coverage | 0.66 | 0.66 | 2.19 | 1.65 | 1.05 | 16.73 | 27.66 | 16.83 | 13.15 | 12.55 | 13.73 |
MLKN Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.58x means MillerKnoll, Inc. can comfortably meet its short-term obligations, though there is limited excess liquidity. The quick ratio of 0.94x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory. The current ratio has declined from 1.67x to 1.58x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.58 | 1.58 | 1.53 | 1.67 | 1.50 | 1.78 | 1.80 | 1.48 | 1.56 | 1.28 | 1.23 |
| Quick Ratio | 0.94 | 0.94 | 0.92 | 0.98 | 0.83 | 1.35 | 1.42 | 1.07 | 1.17 | 0.88 | 0.90 |
| Cash Ratio | 0.28 | 0.28 | 0.33 | 0.32 | 0.26 | 0.81 | 0.90 | 0.38 | 0.51 | 0.27 | 0.24 |
| Asset Turnover | — | 0.93 | 0.90 | 0.96 | 0.87 | 1.20 | 1.22 | 1.64 | 1.61 | 1.74 | 1.83 |
| Inventory Turnover | 5.02 | 5.02 | 5.15 | 5.45 | 4.42 | 7.10 | 7.99 | 8.89 | 9.29 | 9.28 | 10.85 |
| Days Sales Outstanding | — | 37.51 | 33.25 | 32.46 | 35.23 | 32.74 | 29.28 | 35.87 | 33.62 | 29.90 | 34.00 |
MLKN Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
MillerKnoll, Inc. returns 12.2% to shareholders annually — split between a 4.6% dividend yield and 7.6% buyback yield.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 4.6% | 4.4% | 2.7% | 5.5% | 2.5% | 1.2% | 2.7% | 2.2% | 2.1% | 2.1% | 1.8% |
| Payout Ratio | — | — | 67.6% | 135.6% | — | 19.8% | — | 28.4% | 33.1% | 31.8% | 25.5% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | 4.0% | 4.1% | — | 6.2% | — | 7.6% | 6.5% | 6.5% | 7.1% |
| FCF Yield | 9.2% | 8.7% | 13.4% | 7.7% | — | 9.6% | 11.3% | 6.0% | 4.9% | 6.0% | 6.5% |
| Buyback Yield | 7.6% | 7.3% | 6.8% | 1.6% | 0.7% | 0.0% | 2.0% | 2.3% | 2.4% | 1.2% | 0.7% |
| Total Shareholder Yield | 12.2% | 11.7% | 9.5% | 7.1% | 3.2% | 1.2% | 4.6% | 4.4% | 4.5% | 3.3% | 2.6% |
| Shares Outstanding | — | $69M | $74M | $76M | $73M | $59M | $59M | $59M | $60M | $61M | $61M |
Peer Comparison
Compare MLKN with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 MLKNYou | $1B | -30.9 | 14.3 | 10.9 | 38.8% | 1.4% | -2.6% | 1.3% | 9.5 |
 SCS | $2B | 15.8 | 8.8 | 18.3 | 33.1% | 5.0% | 13.1% | 9.9% | 2.5 |
 HNI | $2B | 31.3 | 9.0 | 8.1 | 41.4% | 8.4% | 4.1% | 7.8% | 4.7 |
 UFI | $75M | -3.6 | 10.7 | — | 1.5% | -1.7% | -8.2% | -2.1% | 7.4 |
 ETH | $554M | 10.8 | 9.7 | 9999.0 | 60.5% | 10.1% | 10.7% | 7.6% | 2.0 |
 HOFT | $138M | -10.7 | — | — | 22.3% | -4.6% | -5.8% | -5.1% | — |
 FLXS | $295M | 15.5 | 10.4 | 8.7 | 22.2% | 6.0% | 12.7% | 9.9% | 2.0 |
 SNBR | $69M | -0.5 | — | — | 59.0% | -3.3% | — | -0.0% | — |
 PRPL | $56M | -1.1 | — | — | 40.2% | -6.8% | — | -15.8% | — |
 LZB | $1B | 15.1 | 6.2 | 12.9 | 43.9% | 6.4% | 9.7% | 8.7% | 1.9 |
 LESL | $13M | -0.1 | 20.3 | — | 35.4% | 1.1% | — | 1.6% | 21.3 |
| Consumer Cyclical Median | — | 19.4 | 11.4 | 15.3 | 36.8% | 2.9% | 5.7% | 5.8% | 4.4 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Start ComparisonMLKN — Frequently Asked Questions
Quick answers to the most common questions about buying MLKN stock.
What is MillerKnoll, Inc.'s P/E ratio?
MillerKnoll, Inc.'s current P/E ratio is -30.9x. The historical average is 21.8x.
What is MillerKnoll, Inc.'s EV/EBITDA?
MillerKnoll, Inc.'s current EV/EBITDA is 14.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 11.3x.
What is MillerKnoll, Inc.'s ROE?
MillerKnoll, Inc.'s return on equity (ROE) is -2.6%. The historical average is 45.4%.
Is MLKN stock overvalued?
Based on historical data, MillerKnoll, Inc. is trading at a P/E of -30.9x. Compare with industry peers and growth rates for a complete picture.
What is MillerKnoll, Inc.'s dividend yield?
MillerKnoll, Inc.'s current dividend yield is 4.58%.
What are MillerKnoll, Inc.'s profit margins?
MillerKnoll, Inc. has 38.8% gross margin and 1.4% operating margin.
How much debt does MillerKnoll, Inc. have?
MillerKnoll, Inc.'s Debt/EBITDA ratio is 9.5x, indicating high leverage. A ratio above 4x may signal elevated financial risk.