MillerKnoll (MLKN) AI Stock Analysis

• Market Cap: $1.34B
• Dividend Yield: 4.12%
• Average Volume (3M): 532.03K
• Price to Earnings (P/E): 45.7
• Beta (1Y): 1.02
• Revenue Growth: 1.14%
• EPS Growth: -149.26%
• Country: US
• Employees: 10,200
• Sector: Consumer Cyclical
• Sector Strength: 64
• Industry: Furnishings, Fixtures & Appliances
• EPS (TTM): 0.60
• Shares Outstanding: 67,806,600
• 10 Day Avg. Volume: 396,788
• 30 Day Avg. Volume: 532,028
• PEG Ratio: N/A
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: 2.10
• Enterprise Value/Revenue: 0.77
• Enterprise Value/Gross Profit: 1.98
• Enterprise Value/Ebitda: 55.87
• 1Y Price Target: $20.00
• Price Target Upside: 2.20% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 1

• Rating: 56 Neutral
• Price Target: $20.00 ▲(2.20% Upside)

The overall stock score is influenced by a strong earnings performance and strategic growth plans, despite financial challenges and valuation concerns. The company's liquidity position is a positive factor, but profitability issues and potential future impacts from tariffs temper the outlook.

Positive Factors

Earnings

MillerKnoll reported strong 4Q25 results with revenue, EBITDA, and EPS coming in well ahead of street estimates.

Order Growth

Order growth rates jumped as potential pull-forward demand raced to beat impending tariff related pricing actions.

Revenue Growth

North America Contract shines with revenue up approximately 12.5% year-over-year, reinforcing the belief that demand is out there.

Negative Factors

Margin Pressures

Near-term margin pressures are expected with current tariff levels impacting costs and potential short-term setbacks in gross and operating margins.

Tariff Uncertainty

Tariff uncertainty still represents the greatest obstacle for both the industry and customers.

MillerKnoll Business Overview & Revenue Model

Company Description

MillerKnoll, Inc. (MLKN) is a leading global design company operating in the furniture manufacturing industry. The company was formed through the merger of Herman Miller and Knoll, both of which are iconic brands in the design and furnishing sectors. MillerKnoll offers a wide range of products, including office furniture, seating, textiles, and related products, catering to both commercial and residential markets. The company is known for its innovative design, sustainable practices, and high-quality products that enhance spaces and improve how people work and live.

How the Company Makes Money

MillerKnoll generates revenue primarily through the sale of its furniture and related products. The company's revenue streams are diversified across multiple sectors, including office, healthcare, education, and residential markets. A significant portion of its income comes from large-scale projects and corporate contracts, where it supplies office furniture systems and solutions. Additionally, MillerKnoll benefits from its strong brand portfolio and distribution network, which includes direct-to-consumer sales, retail partnerships, and a network of authorized dealers and distributors. The company also invests in research and development to innovate and expand its product offerings, which helps maintain its competitive edge and market share. Strategic partnerships and acquisitions play a crucial role in its growth strategy, allowing it to leverage synergies and expand its market reach.

MillerKnoll Financial Statement Overview

Summary

MillerKnoll's financial performance is hindered by a negative net profit margin and declining EBIT and EBITDA margins. Despite a stable revenue base and a healthy gross profit margin, profitability issues are evident with negative return on equity and declining free cash flow trends.

Income Statement

MillerKnoll's TTM revenue shows modest growth of 1.14% compared to the previous year. However, the net profit margin is negative at -1.01%, indicating a loss in profitability. The gross profit margin remains healthy at 38.74%, but a declining EBIT margin of 1.38% and EBITDA margin of 1.38% reflect operational challenges.

Balance Sheet

The company's debt-to-equity ratio stands at 1.36, suggesting moderate leverage. Return on equity has turned negative at -2.76%, highlighting profitability issues. The equity ratio is relatively stable at 33.80%, indicating a solid capital structure despite the decline in equity over time.

Cash Flow

Operating cash flow remains positive, with a decent operating cash flow to net income ratio of 5.67. However, free cash flow has decreased significantly, leading to a negative free cash flow growth rate. The company is generating free cash flow, but declining trends could indicate potential cash flow challenges.

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	50.50M	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	1.89B	543.00M
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	0.00	273.90M	79.60M	-106.60M	272.50M
Operating Cash Flow	0.00	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: 19.57
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

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 19.57 is below the 20-day moving average (MA) of 19.86, above the 50-day MA of 18.64, and below the 200-day MA of 20.29, indicating a neutral trend. The MACD of 0.05 indicates Positive momentum. The RSI at 51.55 is Neutral, neither overbought nor oversold. The STOCH value of 23.83 is Neutral, 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
TILE	79 Outperform	$1.49B	15.73	18.63%	0.16%	6.26%	44.74%
MBC	78 Outperform	$1.44B	17.17	7.15%	―	4.05%	-47.49%
ETD	74 Outperform	$750.44M	14.66	10.69%	6.86%	-4.89%	―
AMWD	73 Outperform	$787.82M	9.56	10.89%	―	-7.47%	-9.07%
LZB	70 Outperform	$1.49B	15.41	9.84%	2.43%	3.04%	-16.49%
Sector *	61 Neutral	$16.54B	10.12	-9.02%	3.34%	1.44%	-22.51%
MLKN	56 Neutral	$1.34B	45.68	-2.77%	4.12%	1.14%	-149.26%

MillerKnoll Corporate Events

MillerKnoll Chair Michael Volkema Announces Retirement

On July 15, 2025, Michael Volkema, the Chair of the Board of Directors of MillerKnoll, Inc., announced his retirement from the board at the end of his term during the company’s 2025 annual meeting of shareholders. Volkema’s decision to retire stems from personal and family commitments and not from any disagreements with the company. His departure marks the end of a significant tenure, having served as President and CEO for 9 years and as Board Chair for 25 years, during which he contributed greatly to the company’s leadership.

The most recent analyst rating on (MLKN) stock is a Hold with a $38.00 price target. To see the full list of analyst forecasts on MillerKnoll stock, see the MLKN Stock Forecast page.