MillerKnoll, Inc. (MLKN) AI Stock Analysis

MillerKnoll, Inc. researches, designs, manufactures, and distributes interior furnishings worldwide. Operating through Americas Contract, International Contract, Global Retail, and Knoll segments, it provides office furniture, seating, storage, ergonomic accessories, textiles, leather, and felt. Key product lines include Aeron, Mirra, Sayl, Embody, Cosm, the Imagine Desking System, and Generation by Knoll. The company reaches corporate, residential, healthcare, and educational sectors through direct sales, independent dealers, retailers, e-commerce, and 70 global retail studios featuring brands such as DWR, HAY, Herman Miller, Muuto, and Knoll. Founded in 1905 as Herman Miller, Inc., it rebranded to MillerKnoll, Inc. in November 2021.

For FY2026, MillerKnoll reported revenue of $3.84B, up 4.7% from $3.67B in FY2025, with net income turning positive to $91.5M compared to -$36.9M in the prior year. Gross margin held steady at 38.8% in both FY2025 and FY2026, while operating margin came in at 5.6% in FY2026. From FY2021 to FY2026, revenue expanded at a 5-year CAGR of 9.3%. In the latest quarter ended August 31, 2026, quarterly revenue fell 3.4% year-over-year, while quarterly earnings grew 31.0% year-over-year.

As of August 31, 2026, MillerKnoll held $178.6M in cash and short-term investments against total debt of $1.82B, resulting in net debt of $1.64B. Shareholders' equity stood at $1.36B, reflecting a debt-to-equity ratio of 1.34 and a current ratio of 1.65. During FY2026, operating cash flow reached $199.9M and free cash flow was $77.6M. Capital allocation in FY2026 included $122.3M in capital expenditures, $51.1M in dividends paid, and $16.3M used for share buybacks.

At a share price of $21.07, MillerKnoll trades at a trailing P/E of 14.9x and a forward P/E of 10.1x, below the median of its US-listed Consumer Cyclical peers of 18.0x and 14.1x, respectively. Its enterprise value to EBITDA sits at 8.7x compared to the peer median of 11.1x, and price-to-sales is 0.4x versus 0.7x for peers. Over the past year, MLKN gained 31.0%, outperforming the S&P 500 (SPY) return of 16.8%, though its 5-year return of -34.6% trailed the index gain of 83.0%.

MillerKnoll pays a quarterly dividend totaling $0.75 per share annually, translating to a dividend yield of 3.56%. The payout ratio is 38.7%, and the company has paid dividends for 43 consecutive years. Its 5-year annualized dividend growth rate is 13.5%, with the most recent ex-dividend date on August 28, 2026.

Wall Street coverage includes 2 Strong Buy ratings, with zero Buy, Hold, Sell, or Strong Sell recommendations. The mean price target is $31.50, representing a 49.5% upside over the October 16, 2026 closing price of $21.07. For the fiscal year ending May 31, 2027, consensus estimates project revenue of $3.93B and EPS of $2.02, reflecting 8.5% EPS growth. Over the last four quarters, the company topped EPS expectations 3 times.

This page is an AI-written research summary of MillerKnoll, Inc. (MLKN). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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