MillerKnoll (MLKN) AI Stock Analysis

• Market Cap: $1.08B
• Dividend Yield: 4.55%
• Average Volume (3M): 975.36K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.13
• Revenue Growth: 5.37%
• EPS Growth: -127.27%
• Country: US
• Employees: 10,200
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Furnishings, Fixtures & Appliances
• EPS (TTM): 0.45
• Shares Outstanding: 68,514,770
• 10 Day Avg. Volume: 535,321
• 30 Day Avg. Volume: 975,360
• PEG Ratio: 0.21
• Price to Book (P/B): 0.91
• Price to Sales (P/S): 0.32
• P/FCF Ratio: 11.44
• Enterprise Value/Market Cap: 2.95
• Enterprise Value/Revenue: 0.85
• Enterprise Value/Gross Profit: 2.19
• Enterprise Value/Ebitda: 15.42
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: Hold
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 60 Neutral
• Price Target: $16.50 ▼(-1.84% Downside)

MillerKnoll's overall stock score is driven by a strong earnings call performance, highlighting revenue and EPS growth, and strategic expansion plans. However, financial performance and valuation concerns, including profitability challenges and a negative P/E ratio, weigh heavily on the score. Technical analysis suggests mixed signals, with short-term momentum but longer-term bearish trends.

Positive Factors

Revenue Growth

The significant increase in revenue indicates strong market demand and effective sales strategies, which can drive long-term growth and stability.

Leadership Stability

The appointment of a seasoned CFO provides stability and strategic focus in financial operations, supporting long-term growth and financial health.

Retail Expansion Strategy

Expanding the retail footprint can enhance market presence and revenue potential, contributing to long-term growth and brand strength.

Negative Factors

High Leverage

Significant leverage can pose financial risks, limiting flexibility and increasing vulnerability to economic downturns, impacting long-term stability.

Cash Flow Challenges

Declining cash generation limits the company's ability to invest in growth opportunities and manage debt, affecting long-term financial health.

Profitability Issues

Struggles with profitability can hinder reinvestment in the business and shareholder returns, challenging long-term growth and competitiveness.

MillerKnoll Business Overview & Revenue Model

Company Description

MillerKnoll (MLKN) is a leading global furniture company that specializes in designing and manufacturing office and home furnishings. Formed from the merger of Miller and Knoll, the company operates in the commercial and residential sectors, providing innovative and sustainable products that enhance the workplace and living environments. Its core product offerings include office systems, seating, textiles, and accessories, catering to a diverse clientele ranging from corporations to educational institutions and individual consumers.

How the Company Makes Money

MillerKnoll generates revenue primarily through the sale of its furniture and design solutions. The company has multiple key revenue streams, including direct sales to businesses and consumers, partnerships with architects and designers, and distribution through a network of dealers and retailers. Additionally, MillerKnoll benefits from ongoing contracts and repeat business in the commercial sector, where companies frequently require updates and expansions to their office spaces. The company's focus on sustainability and innovative design also attracts premium pricing, enhancing profit margins. Strategic partnerships with interior design firms and other stakeholders in the architecture and design community further bolster its market presence and revenue potential.

MillerKnoll Financial Statement Overview

Summary

MillerKnoll's financial performance is mixed, with slight revenue growth but challenges in profitability and cash flow management. The company has a high debt-to-equity ratio and negative returns on equity, indicating financial risks. Despite a healthy gross profit margin, operational efficiency and cash flow generation need improvement.

Income Statement

MillerKnoll's income statement shows a mixed performance. The TTM data reveals a slight revenue growth of 2.57%, but the company is struggling with profitability, as indicated by a negative net profit margin of -0.41%. The gross profit margin is relatively healthy at 38.64%, suggesting efficient production. However, the EBIT and EBITDA margins are low at 0.97% and 5.21%, respectively, indicating challenges in operational efficiency and cost management.

Balance Sheet

The balance sheet reflects a moderate financial position. The debt-to-equity ratio is high at 1.34, indicating significant leverage, which could pose risks if not managed well. The return on equity is negative at -1.19%, highlighting challenges in generating returns for shareholders. However, the equity ratio is reasonable, suggesting a balanced asset structure.

Cash Flow

Cash flow analysis shows some concerns. The free cash flow growth rate is negative at -19.47%, indicating declining cash generation. The operating cash flow to net income ratio is 0.30, suggesting that operating cash flow is not fully covering net income. The free cash flow to net income ratio is 0.41, indicating some cash flow challenges relative to profitability.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	3.76B	3.67B	3.63B	4.09B	3.95B	2.47B
Gross Profit	1.45B	1.42B	1.42B	1.43B	1.35B	949.20M
EBITDA	206.60M	195.30M	331.00M	371.00M	219.80M	327.90M
Net Income	-15.50M	-36.90M	82.30M	42.10M	-27.10M	174.60M
Balance Sheet
Total Assets	3.94B	3.95B	4.04B	4.27B	4.51B	2.06B
Cash, Cash Equivalents and Short-Term Investments	167.20M	193.70M	230.40M	223.50M	230.30M	404.10M
Total Debt	1.83B	1.81B	1.76B	1.87B	1.97B	518.80M
Total Liabilities	2.58B	2.62B	2.58B	2.73B	2.98B	1.14B
Stockholders Equity	1.36B	1.28B	1.39B	1.43B	1.43B	849.60M
Cash Flow
Free Cash Flow	81.90M	101.70M	273.90M	79.60M	-106.60M	272.50M
Operating Cash Flow	197.60M	209.30M	352.30M	162.90M	-11.90M	332.30M
Investing Cash Flow	-109.10M	-100.90M	-86.30M	-76.50M	-1.17B	-59.90M
Financing Cash Flow	-139.20M	-150.30M	-258.80M	-86.80M	1.04B	-347.70M

MillerKnoll Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 16.81
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MLKN, the sentiment is Neutral. The current price of 16.81 is above the 20-day moving average (MA) of 15.28, above the 50-day MA of 15.72, and below the 200-day MA of 17.72, indicating a neutral trend. The MACD of 0.19 indicates Negative momentum. The RSI at 65.00 is Neutral, neither overbought nor oversold. The STOCH value of 67.54 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for MLKN.

MillerKnoll Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
LZB	77 Outperform	$1.58B	17.71	8.82%	2.33%	1.78%	-25.36%
TILE	72 Outperform	$1.59B	14.18	20.20%	0.22%	5.11%	34.02%
LEG	68 Neutral	$1.21B	5.55	26.20%	1.77%	-6.03%	―
BSET	66 Neutral	$142.79M	18.41	4.70%	4.87%	-2.74%	―
ETD	66 Neutral	$614.02M	13.07	9.96%	7.18%	-4.61%	-25.66%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
MLKN	60 Neutral	$1.08B	―	-1.18%	4.55%	5.37%	-127.27%

MillerKnoll Corporate Events

MillerKnoll Appoints Kevin Veltman as CFO

On October 16, 2025, MillerKnoll appointed Kevin Veltman as Chief Financial Officer, following his interim role since September 2025. Veltman, who has been with the company for over a decade, will oversee global financial operations and strategy, with a focus on driving the company’s next phase of growth. His appointment includes an increased salary and incentive awards, reflecting his significant contributions, including leading the Knoll integration.

MillerKnoll Approves 2025 Long-Term Incentive Plan

On October 13, 2025, MillerKnoll, Inc. held its annual shareholders meeting where the 2025 Long-Term Incentive Plan was approved. This plan, which replaces the one from 2023, allows for various equity-based awards to be granted to employees and directors, with a maximum of 21,164,945 shares available, potentially impacting the company’s compensation strategy and stakeholder interests.

MillerKnoll Secures $90 Million Securitization Facility

On September 10, 2025, MillerKnoll, Inc. and its subsidiaries entered into a three-year accounts receivable securitization facility worth up to $90 million to support general working capital needs. This facility, involving Wells Fargo Bank as the administrative agent, allows the company to sell and contribute certain accounts receivables to a wholly-owned subsidiary, which can request advances from lenders. The agreement includes customary financial terms and guarantees, potentially impacting the company’s liquidity and operational flexibility.