MillerKnoll (MLKN) AI Stock Analysis

• Market Cap: $1.32B
• Dividend Yield: 4.16%
• Average Volume (3M): 1.04M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.11
• Revenue Growth: 4.34%
• EPS Growth: -141.36%
• Country: US
• Employees: 10,200
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Furnishings, Fixtures & Appliances
• EPS (TTM): 0.43
• Shares Outstanding: 68,249,980
• 10 Day Avg. Volume: 1,114,056
• 30 Day Avg. Volume: 1,041,907
• 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: 2.07
• Enterprise Value/Revenue: 0.73
• Enterprise Value/Gross Profit: 1.88
• Enterprise Value/Ebitda: 32.73
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 57 Neutral
• Price Target: $19.50 ▲(3.07% Upside)

MillerKnoll's overall stock score reflects significant financial challenges, including declining revenue and high leverage, which weigh heavily on the score. The technical analysis shows positive momentum but also overbought conditions, suggesting caution. The valuation is weak due to a negative P/E ratio, though the dividend yield offers some appeal. The earnings call provides a positive outlook with strong retail growth and strategic expansion plans, contributing positively to the score.

Positive Factors

Retail Growth

The strong growth in retail orders indicates robust demand and effective market strategies, supporting long-term revenue stability and expansion.

Leadership Stability

The appointment of a seasoned CFO with a strategic growth focus enhances leadership stability, potentially improving financial management and strategic execution.

Healthcare Sector Demand

Increased orders in the healthcare sector highlight resilience and growth potential in a stable market, contributing to long-term revenue diversification.

Negative Factors

High Leverage

High leverage poses financial risks, potentially limiting financial flexibility and increasing vulnerability to economic downturns.

Declining Revenue

Significant revenue decline indicates operational challenges and market pressures, necessitating strategic adjustments to regain growth momentum.

Operating Margin Pressure

Margin pressure due to costs and tariffs can affect profitability, requiring cost management and efficiency improvements for long-term sustainability.

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 faces significant financial challenges, with declining revenue, profitability issues, and high leverage. The income statement shows a revenue drop of 40.4% and a negative net profit margin. The balance sheet reveals a high debt-to-equity ratio of 1.34, indicating financial risks. Cash flow analysis shows a decrease in free cash flow growth. The company needs to focus on revenue growth, cost management, and debt reduction to improve its financial health.

Income Statement

MillerKnoll's income statement shows a challenging period with declining revenue and profitability. The TTM data indicates a significant revenue drop of 40.4%, and the net profit margin is negative, reflecting a net loss. The gross profit margin remains relatively stable, but the EBIT and EBITDA margins are low, indicating operational challenges. The company needs to address its declining revenue and improve cost management to enhance profitability.

Balance Sheet

The balance sheet reveals a high debt-to-equity ratio of 1.34, indicating significant leverage, which could pose financial risks. The return on equity is negative, reflecting recent losses. However, the equity ratio is reasonable, suggesting a balanced asset structure. The company should focus on reducing debt levels and improving profitability to strengthen its financial position.

Cash Flow

Cash flow analysis shows a decrease in free cash flow growth, with a negative growth rate of 14.3% in the TTM. The operating cash flow to net income ratio is positive, indicating some cash generation capability, but the free cash flow to net income ratio suggests challenges in converting earnings to cash. Improving cash flow management and reducing reliance on debt financing are crucial for financial stability.

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

MillerKnoll Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 18.92
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MLKN, the sentiment is Positive. The current price of 18.92 is above the 20-day moving average (MA) of 17.94, above the 50-day MA of 16.22, and above the 200-day MA of 17.61, indicating a bullish trend. The MACD of 0.73 indicates Negative momentum. The RSI at 73.57 is Negative, neither overbought nor oversold. The STOCH value of 87.44 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for MLKN.

MillerKnoll Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
LZB	77 Outperform	$1.61B	18.26	8.82%	2.39%	1.78%	-25.36%
TILE	72 Outperform	$1.76B	15.68	20.20%	0.21%	5.11%	34.02%
BSET	66 Neutral	$142.45M	18.50	4.70%	4.59%	-2.74%	―
ETD	66 Neutral	$609.95M	13.13	9.96%	7.86%	-4.61%	-25.66%
LEG	63 Neutral	$1.63B	7.66	26.20%	1.84%	-6.03%	―
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
MLKN	57 Neutral	$1.32B	-50.10	-1.95%	4.16%	4.34%	-141.36%

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.

The most recent analyst rating on (MLKN) stock is a Hold with a $18.00 price target. To see the full list of analyst forecasts on MillerKnoll stock, see the MLKN Stock Forecast page.

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.

The most recent analyst rating on (MLKN) stock is a Hold with a $18.00 price target. To see the full list of analyst forecasts on MillerKnoll stock, see the MLKN Stock Forecast page.