MLKN MILLERKNOLL, INC.

Overview and Growth

Fiscal 2026 results for MILLERKNOLL, INC. combined $3.84B of revenue with net income of $91.50M and an operating cash inflow of $199.90M. Revenue of $3.84B sets the scale for evaluating how effectively sales translated into profit and cash during the year. Revenue was 4.7% above fiscal 2025 revenue of $3.67B, marking a year-over-year increase. Diluted earnings per share were $1.32, translating the period’s attributable earnings into the amount reported for each diluted share. The revenue-to-assets relationship was 0.96x, showing the sales generated relative to the resources carried on the balance sheet.

Profitability

The first profit layer was $1.49B of gross profit, the amount available after reported direct revenue costs to absorb operating expenses. The gross-profit relationship equaled 38.8% of revenue, quantifying the portion retained before operating expenses were recognized. The reported operating result was $198.30M, capturing profitability after direct costs and the operating expenses reflected in the statements. The operating result equaled 5.2% of revenue, placing the absolute operating-income figure in the context of the company’s sales base. After all reported below-operating-line items, the company recorded net income of $91.50M for the fiscal year. Measured against reported revenue, net income produced a 2.4% margin after operating costs and the remaining recognized items. Before income taxes, the company reported $128.20M of earnings, providing a bridge between the operating result and final net income. Pretax income represented 3.3% of revenue, placing earnings before tax in the context of the company’s operating scale. The reported income-tax provision was $32.40M, the amount recognized between pretax income and the final net-income result. The income-tax provision equaled 25.3% of pretax income, showing the tax burden absorbed by the year’s earnings. The relationship between net income and period-end equity was 6.8%, indicating the profitability achieved on book capital. Return on period-end assets was 2.3%, connecting net income with the company’s total asset base.

Liquidity and Capital Structure

At period end, the $4.00B asset base was financed through $2.59B of liabilities and $1.34B of equity. At period end, current assets of $1.14B compared with current liabilities of $721.10M, defining the company’s short-term resource position. Current assets covered current liabilities by 1.58x, leaving a positive buffer for near-term obligations. Reported cash and equivalents were $167.70M, separating immediately recognizable cash resources from the rest of the current-asset base. Cash and equivalents represented 23.3% of current liabilities, showing the portion of near-term obligations matched by reported cash alone. The liabilities-to-assets relationship was 64.9%, placing reported obligations against the full positive asset balance. Cash and equivalents equaled 4.2% of total assets, showing the liquid cash component within the company’s broader resource base. Total assets were 1.3% higher than fiscal 2025 assets of $3.95B, measuring the company’s own balance-sheet change. Book equity was 5.2% higher than fiscal 2025 equity of $1.28B, showing how shareholder capital changed year over year.

Cash Flow and Earnings Quality

The company reported $199.90M of operating cash flow, a cash inflow that shows the cash generated by operations. Against net income, operating cash flow measured 2.18x, showing the relationship between accrual earnings and operating cash. Capital expenditures used $122.30M, identifying the reported investment outflow deducted from operating cash flow in the free-cash-flow calculation. Capital expenditures represented 61.2% of operating cash flow, leaving the remainder available as free cash flow. Free cash flow came to $77.60M, leaving a positive amount after capital expenditures. Relative to revenue, free cash flow equaled 2.0%, showing how much sales converted into cash after investment. Measured against total assets, free cash flow represented 1.9%, showing the cash productivity of the company’s assets.

Based on the annual report for the fiscal year ending May 30, 2026. Analysis generated Sep 24, 2026.