MillerKnoll (MLKN) AI Stock Analysis

• Market Cap: $961.26M
• Dividend Yield: 4.39%
• Average Volume (3M): 868.91K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.17
• 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: 1,692,629
• 30 Day Avg. Volume: 868,915
• 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: 3.31
• 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): 1.79
• Revenue Forecast (FY): $3.79B

• Rating: 54 Neutral
• Price Target: $14.00 ▼(-16.72% Downside)

MillerKnoll's overall stock score is driven by mixed financial performance and bearish technical indicators. The positive earnings call reflects strong growth and expansion strategies, but financial risks and valuation concerns weigh on the score. The company's ability to improve profitability and manage financial risks will be crucial for future performance.

Positive Factors

Revenue Growth

The significant revenue growth of 10.9% year-over-year demonstrates strong market demand and effective sales strategies, indicating a robust business model and potential for continued expansion.

Innovation and Product Development

Continuous innovation and new product launches, such as the updated Aeron chair, enhance MillerKnoll's competitive edge and appeal to evolving customer needs, supporting long-term growth.

Retail Expansion Strategy

The strategic expansion of retail stores indicates a commitment to increasing market presence and customer accessibility, potentially driving revenue and brand strength in the long term.

Negative Factors

High Leverage

High leverage with a debt-to-equity ratio of 1.34 poses financial risks, potentially limiting the company's ability to invest in growth opportunities and increasing vulnerability to economic downturns.

Profitability Challenges

Struggles with profitability, as indicated by a negative net profit margin, highlight operational inefficiencies and cost management issues, which could hinder long-term financial health.

Cash Flow Concerns

Declining cash generation, as shown by a negative free cash flow growth rate, may impact the company's ability to fund operations and strategic initiatives, affecting future growth prospects.

MillerKnoll Business Overview & Revenue Model

Company Description

MillerKnoll, Inc. researches, designs, manufactures, and distributes interior furnishings worldwide. The company operates in four segments: Americas Contract, International Contract, Global Retail, and Knoll. It offers office furniture products under the Aeron, Mirra, Sayl, Embody, Layout Studio, Imagine Desking System, Ratio, Cosm, Tone, and Generation by Knoll names; and other seating and storage products and ergonomic accessories under the About A Chair, Palissade, Eero Saarinen designs, Barcelona, and the Flo monitor arm names. The company also offers office seating, office furniture systems, other freestanding furniture elements, textiles, leather, felt, home furnishings and related services, casegoods, storage products, as well as residential, education, and healthcare furniture solutions. As of May 28, 2022, the company operated 70 retail studios including 35 operates under the DWR brand, 7 under the HAY brand, 22 Herman Miller stores, 2 Muuto stores, 3 Knoll stores, and a multi-brand Chicago store. Its products are used in institutional, health/science, and residential and other environments; transportation terminals; and industrial and educational settings. The company markets its products through its sales staff, and independent dealers and retailers, as well as e-commerce websites. 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 the Company Makes Money

MillerKnoll generates revenue through the sale of its furniture and design solutions, primarily targeting commercial clients such as businesses, educational institutions, and healthcare organizations. The company’s revenue model is built on both direct sales and partnerships with dealers and distributors, enabling it to reach a broad customer base. Key revenue streams include the sale of office furniture, seating, and accessories, as well as design and workspace planning services. Additionally, MillerKnoll benefits from strategic partnerships with architects and interior designers, enhancing its market presence and driving sales through collaborative projects. The company's focus on sustainability and innovative product offerings also plays a critical role in attracting customers and increasing its earnings.

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: Negative
• Last Price: 16.81
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MLKN, the sentiment is Negative. The current price of 16.81 is above the 20-day moving average (MA) of 15.26, below the 50-day MA of 16.90, and below the 200-day MA of 18.37, indicating a bearish trend. The MACD of -0.84 indicates Positive momentum. The RSI at 29.79 is Positive, neither overbought nor oversold. The STOCH value of 10.95 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for MLKN.

MillerKnoll Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
LZB	69 Neutral	$1.47B	13.65	8.82%	2.97%	1.78%	-25.36%
BSET	66 Neutral	$126.72M	16.33	4.70%	5.48%	-2.74%	―
ETD	66 Neutral	$614.02M	13.07	9.96%	8.09%	-4.61%	-25.66%
TILE	66 Neutral	$1.50B	13.25	20.20%	0.19%	5.11%	34.02%
LEG	62 Neutral	$1.21B	5.55	26.20%	2.29%	-6.03%	―
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
MLKN	54 Neutral	$961.26M	―	-1.18%	4.39%	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.

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.

MillerKnoll, Inc. Reports Strong Start to Fiscal 2026

MillerKnoll, Inc. has kicked off fiscal 2026 with a robust performance, showcasing significant revenue and EPS growth, alongside successful expansion strategies and new product launches. Despite facing challenges such as tariff impacts, order declines, and pressures on retail profitability, the company remains optimistic about its future growth and mitigation efforts.

MillerKnoll, Inc. Reports Strong Q1 Fiscal 2026 Results

MillerKnoll, Inc. is a growth-oriented small-cap value company operating in the industrial and consumer sectors, known for its diverse portfolio of design brands including Herman Miller and Knoll. In its first quarter of fiscal 2026, MillerKnoll reported a robust performance with net sales reaching $955.7 million, marking a 10.9% increase from the previous year. The company also achieved a significant improvement in operating earnings, which rose to 5.6% from 1.8% in the prior year, and adjusted earnings per share increased by 25% to $0.45.

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.

The most recent analyst rating on (MLKN) stock is a Hold with a $22.00 price target. To see the full list of analyst forecasts on MillerKnoll stock, see the MLKN Stock Forecast page.

MillerKnoll Announces New COO for Growth Strategy

MillerKnoll announced significant leadership changes to drive its growth and innovation strategy. Jeffrey M. Stutz has been appointed as Chief Operating Officer, effective September 8, 2025, while John R. Hoke III will become the new non-executive Chair of the Board of Directors, effective October 13, 2025. These appointments aim to enhance the company’s operational capabilities and design-driven brand management, with Stutz focusing on international contract business and global manufacturing, and Hoke bringing extensive design expertise from his tenure at Nike. The changes are expected to support MillerKnoll’s strategy of leveraging its global network and design brands to meet customer needs.

The most recent analyst rating on (MLKN) stock is a Hold with a $22.00 price target. To see the full list of analyst forecasts on MillerKnoll stock, see the MLKN Stock Forecast page.