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MillerKnoll

MLKN Nasdaq Office Services & Supplies Financials FY2017–FY2026

MillerKnoll's revenue rose 4.7% to $3.8 billion in fiscal 2026. Its operating margin was 5.2%, up from 1.4% a year earlier. Free cash flow was $78 million, down 23.7%. It paid out $51 million in dividends and buybacks, 66% of free cash flow. The diluted share count rose 0.5%.

Last close · Oct 23, 2026

$21.14

2.5%
Value it Compare
Revenue Total sales reported in the income statement.
$3.8B
4.7% vs prior year
Operating margin Operating income as a share of revenue.
5.2%
3.8 pts
Net income Profit after all expenses, interest and tax.
$91.5M
Free cash flow Cash from operations minus capital spending.
$77.6M
23.7%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
6.1%
4.5 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$1.5B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
15.0x
On $1.41 EPS (TTM)

What MillerKnoll does

No business description yet.

Legal name
MillerKnoll, Inc.
Fiscal year ends
May 30, 2026
Latest annual report
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Accession · CIK
0000066382-26-000092
0000066382

Revenue and margins

MillerKnoll had $3.8B of revenue in fiscal 2026, up 4.7% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2017 to 2026, diluted EPS grew −4.8% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $77.6M in fiscal 2026, 2.0% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

MillerKnoll returned $51.1M to shareholders in fiscal 2026, 66% of free cash flow. The diluted share count rose 0.5%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value MillerKnoll yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

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Adds net cash of −$1.1B and divides by 69.3M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 15.0x · peers 19.9x · sector 26.0x.

Balance sheet

Cash, debt and the ratios that show how comfortably MillerKnoll can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY22FY23FY24FY25FY26
Cash and short-term investments $230M$224M$230M$194M$168M
Debt incl. finance leases $1.4B$1.4B$1.3B$1.3B$1.3B
Net debt / EBITDA 5.1x4.2x3.3x5.9x3.2x
Debt / equity 1.0x1.0x0.9x1.0x0.9x
Interest coverage 1.1x1.7x2.2x0.7x2.8x
Current ratio 1.5x1.7x1.5x1.6x1.6x
Quick ratio 0.8x1.0x0.9x0.9x0.9x
Total assets $4.5B$4.3B$4.0B$4.0B$4.0B
Total liabilities $3.0B$2.7B$2.6B$2.6B$2.6B
Shareholders' equity $1.4B$1.4B$1.4B$1.3B$1.3B
Net debt (− = net cash) $1.2B$1.2B$1.1B$1.1B$1.1B

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$0.0M

0 insiders

Of sales under plans

—

$0.0M

No open-market insider trades in the last 12 months.

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY24FY25FY26
Net income is positive ✓ ✕ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✓ ✕ ✓
Cash from operations exceeds net income ✓ ✓ ✓
Debt fell relative to assets ✓ ✕ ✓
Current ratio rose ✕ ✓ ✓
Share count didn't rise ✓ ✓ ✕
Gross margin rose ✓ ✕ ✕
Revenue rose relative to assets ✕ ✓ ✓
F-score 7 / 95 / 97 / 9
Accruals ratio −6.5%−6.2%−2.7%
Altman Z'' 2.041.822.13

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
MillerKnoll MLKN $1.5B 4.7% 5.2% 2.0% 6.1% 15.0x 7
Pitney Bowes PBI $2.4B −6.6% — 16.8% 27.7% 14.1x 6 Compare →
MSA Safety MSA $7.1B 3.7% 19.8% 15.8% 17.3% 22.7x 6 Compare →
A. O. Smith AOS $8.5B 0.3% 19.0% 14.3% 30.7% 17.1x 7 Compare →
Moog MOG-A $11.0B 7.0% 11.7% 3.3% 11.7% 29.0x 7 Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY17FY18FY19FY20FY21FY22FY23FY24FY25FY26
Income statement
Revenue $2.3B $2.4B $2.6B $2.5B $2.5B $3.9B $4.1B $3.6B $3.7B $3.8B
Gross profit $864M $873M $930M $911M $951M $1.4B $1.4B $1.4B $1.4B $1.5B
Research and development $58.6M $57.1M $58.8M $54.3M $72.1M $109M $106M $92.6M $93.8M $100M
Operating income $191M $179M $204M −$37.9M $233M $39.8M $122M $167M $50.5M $198M
Interest expense $15.2M $13.5M $12.1M $12.5M $13.9M $37.8M $74.0M $76.2M $76.7M $69.9M
Pretax income $178M $168M $195M −$12.9M $228M −$8.6M $51.4M $99.7M −$21.9M $128M
Income tax $55.1M $42.4M $39.6M $6.1M $48.3M $11.1M $4.5M $14.7M $11.6M $32.4M
Net income $124M $128M $161M −$8.7M $175M −$27.1M $42.1M $82.3M −$36.9M $91.5M
Diluted EPS $2.05 $2.12 $2.70 −$0.15 $2.94 −$0.37 $0.55 $1.11 −$0.54 $1.32
Diluted shares 0.06B 0.06B 0.06B 0.06B 0.06B 0.07B 0.08B 0.07B 0.07B 0.07B
Cash flow
Cash from operations $202M $167M $216M $222M $332M −$11.9M $163M $352M $209M $200M
Capital expenditure $87.3M $70.6M $85.8M $69.0M $59.8M $94.7M $83.3M $78.4M $108M $122M
Free cash flow $115M $95.9M $131M $153M $273M −$107M $79.6M $274M $102M $77.6M
Depreciation and amortization $58.9M $66.9M $72.1M $79.5M $87.2M $191M $155M $155M $141M $148M
Stock-based compensation $8.7M $7.7M $7.3M $2.7M $9.0M $31.4M $20.2M $20.7M $31.8M $26.0M
Acquisitions $0.0M $0.0M $0.0M $111M $0.0M $1.1B $0.0M $0.0M $0.0M $0.0M
Share buybacks $23.7M $46.5M $47.9M $26.6M $0.9M $16.2M $16.0M $138M $84.9M $0.0M
Dividends paid $39.4M $42.4M $45.6M $36.4M $34.5M $54.5M $57.1M $55.6M $51.7M $51.1M
Dividends and buybacks $63.1M $88.9M $93.5M $63.0M $35.4M $70.7M $73.1M $194M $137M $51.1M
Balance sheet
Cash and short-term investments $105M $213M $168M $461M $404M $230M $224M $230M $194M $168M
Total debt $210M $286M $285M $591M $277M $1.4B $1.4B $1.3B $1.3B $1.3B
Finance lease liabilities $0.0M $0.0M $6.9M $0.0M $0.0M $0.0M $0.0M $1.4M $1.1M $0.9M
Current assets $492M $645M $661M $917M $907M $1.3B $1.2B $1.1B $1.1B $1.1B
Current liabilities $386M $414M $446M $470M $477M $877M $703M $698M $704M $721M
Inventory $152M $162M $184M $197M $229M $587M $487M $429M $448M $488M
Property and equipment, net $315M $331M $349M $331M $327M $582M $536M $492M $496M $511M
Total assets $1.3B $1.5B $1.6B $2.1B $2.1B $4.5B $4.3B $4.0B $4.0B $4.0B
Total liabilities $694M $784M $830M $1.4B $1.1B $3.0B $2.7B $2.6B $2.6B $2.6B
Shareholders' equity $588M $665M $719M $652M $861M $1.4B $1.4B $1.4B $1.3B $1.3B
Margins
Gross margin 37.9% 36.7% 36.2% 36.6% 38.6% 34.3% 35.0% 39.1% 38.8% 38.8%
Operating margin 8.4% 7.5% 7.9% −1.5% 9.4% 1.0% 3.0% 4.6% 1.4% 5.2%
EBITDA margin 11.0% 10.3% 10.7% 1.7% 13.0% 5.8% 6.8% 8.9% 5.2% 9.0%
Net margin 5.4% 5.4% 6.3% −0.4% 7.1% −0.7% 1.0% 2.3% −1.0% 2.4%
FCF margin 5.0% 4.0% 5.1% 6.1% 11.1% −2.7% 2.0% 7.6% 2.8% 2.0%
Returns
Return on capital 19.6% 18.7% 20.5% −3.7% 24.5% 1.9% 4.3% 5.6% 1.7% 6.1%
Return on capital employed 21.7% 18.0% 18.6% −2.8% 14.6% 1.5% 3.4% 4.8% 1.5% 6.1%
Return on equity 22.3% 20.5% 23.2% −1.3% 23.1% −2.4% 2.9% 5.8% −2.8% 7.0%
Return on assets 9.8% 9.2% 10.5% −0.5% 8.5% −0.8% 1.0% 2.0% −0.9% 2.3%
Growth
Revenue growth 0.6% 4.5% 7.8% −3.1% −0.9% 60.1% 3.6% −11.2% 1.1% 4.7%
Net income growth −9.4% 3.4% 25.3% −105.4% — −115.5% — 95.5% −144.8% —
EPS growth −9.3% 3.4% 27.4% −105.6% — −112.6% — 101.8% −148.7% —
FCF growth −8.4% −16.5% 36.2% 17.0% 78.3% −139.1% — 244.1% −62.9% −23.7%
Share count change 0.0% −0.4% −1.5% −0.8% 0.8% 23.2% 3.9% −2.7% −6.7% 0.5%
Financial health
Net debt / EBITDA 0.4x 0.3x 0.5x 3.1x −0.4x 5.1x 4.2x 3.3x 5.9x 3.2x
Debt / equity 0.4x 0.4x 0.4x 0.9x 0.3x 1.0x 1.0x 0.9x 1.0x 0.9x
Interest coverage 12.6x 13.3x 16.8x −3.0x 16.7x 1.1x 1.7x 2.2x 0.7x 2.8x
Current ratio 1.3x 1.6x 1.5x 2.0x 1.9x 1.5x 1.7x 1.5x 1.6x 1.6x
Quick ratio 0.9x 1.2x 1.1x 1.5x 1.4x 0.8x 1.0x 0.9x 0.9x 0.9x
Capital allocation
Capex / revenue 3.8% 3.0% 3.3% 2.8% 2.4% 2.4% 2.0% 2.2% 2.9% 3.2%
Stock comp / revenue 0.4% 0.3% 0.3% 0.1% 0.4% 0.8% 0.5% 0.6% 0.9% 0.7%
Payouts / FCF 55.0% 92.7% 71.6% 41.2% 13.0% — 91.8% 70.8% 134.3% 65.9%
Quality scores
Piotroski F-score 5.0 5.0 6.0 5.0 6.0 2.0 7.0 7.0 5.0 7.0
Altman Z'' 3.7 4.1 4.2 2.9 4.2 1.7 2.0 2.0 1.8 2.1
Accruals ratio −6.2% −2.8% −3.7% −12.7% −7.6% −0.5% −2.8% −6.5% −6.2% −2.7%

Source: SEC EDGAR XBRL filings (CIK 0000066382). Data updated October 11, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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