MillerKnoll (MLKN) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

MillerKnoll

NasdaqGS•Consumer Cyclical•Furnishings, Fixtures & Appliances

$21.43-1.01(-0.05%)Pre-market

Market Cap

$1.48B

P/E

15.2x

P/S

0.4x

P/B

1.1x

MillerKnoll, Inc. researches, designs, manufactures, sells, and distributes interior furnishings worldwide. It operates through North America Contract, International Contract, and Global Retail segments. The company also provides seating products, furniture systems, other freestanding furniture elements, textiles, leather, felt, home furnishings and related services; and casegoods, storage products, and acoustic products and related services, as well as residential, education, and healthcare furniture solutions. It offers its products under the MillerKnoll, Herman Miller, Knoll, Maharam, Geiger, Design Within Reach, HAY, NaughtOne, Colebrook Bosson Saunders, Holly Hunt, Muuto, FilzFelt, Edelman, Spinneybeck, and KnollTextiles brand names. The company offers its products through independent contract furniture dealers, direct contract sales, owned and independent retailers, direct-mail catalogs, and e-commerce platforms. Its products are used in institutional, health/science, industrial and educational settings, and residential and other environments. The company was formerly known as Herman Miller, Inc. and changed its name to MillerKnoll, Inc. in November 2021. MillerKnoll, Inc. was incorporated in 1905 and is headquartered in Zeeland, Michigan.

How this company scores

GoodMetricSide Score: 73/100

Strongest: Cash & Earnings Quality (22/25); weakest: Balance Sheet & Red Flags (15/25).

Profitability17/25

Growth19/25

Balance Sheet & Red Flags15/25

Cash & Earnings Quality22/25

Strengths

Rising free cash flowRising earningsProfit converts from growthConsistent growth

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 15.2x5y range 12.2x – 128.0x

Currently below its 14-quarter median.

P/S · 0.4x5y range 0.3x – 0.6x

Currently near its 20-quarter median.

P/B · 1.1x5y range 0.8x – 1.3x

Currently near its 20-quarter median.

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Watch

FCF/Net Income has dropped below 0.7x in 4 quarters — monitor for earnings quality deterioration.

Price & Volume

Market Cap $1.48B

Metrics at a Glance

as of August 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $3.81B
Q. Revenue: $923.40M
TTM EBITDA: $344.00M
TTM Op. Income: $196.60M
Q. Op. Income: $51.80M
TTM Net Income: $97.90M
Q. Net Income: $26.60M
EPS: $0.38
Shares Out.: $69.29M

$3.81B in TTM revenue grew 1.2% YoY, reaching $923.40M last quarter. TTM EBITDA of $344.00M and TTM operating income of $196.60M show growth is flowing through to the bottom line. TTM net income of $97.90M means revenue is converting into profit. Over the past year, TTM revenue is up 1% — a weakening trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 41.7%
EBITDA Margin: 9.3%
Op. Margin: 5.6%
Net Margin: 2.9%

Op. margin of 5.6% is up 0.0% YoY — cost efficiency is improving. Net margin at 2.9% and gross margin of 41.7% show how much of each revenue dollar survives to profit. Across the last 8 quarters, operating margin has risen for 2 consecutive quarters — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 15.2x
P/S Ratio: 0.4x
P/B Ratio: 1.1x

At 15.2x P/E, the stock trades within typical market levels. P/S of 0.4x and P/B of 1.1x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Over the past year, P/E is down 43% — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $4.00B
Cash: $178.60M
Long-Term Debt: $1.27B
Book Value: $1.36B
D/E Ratio: 0.9
Debt/EBITDA: 14.7

With $4.00B in assets and $1.27B in long-term debt, D/E is 0.9and book value is $1.36B — a conservative capital structure with a cushion to weather downturns. Across the last 8 quarters, debt/equity has fallen for 5 consecutive quarters — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $49.10M
TTM Free Cash Flow: $115.50M
FCF Margin: 3.0%
FCF / Net Income: 1.2

TTM FCF of $115.50M on $49.10M in operating cash flow. The FCF / Net Income ratio of 1.2x means free cash flow covers net income — earnings are backed by cash. Over the past year, free cash flow is up 41% — an improving trend.