MillerKnoll, Inc.
MLKN Consumer Cyclical Furnishings Fixtures & Appliances
MillerKnoll, Inc.’s revenue for fiscal 2026 (year ended May 2026) was $3.8 billion, up 4.68% from fiscal 2025. In the quarter to August 2026, revenue fell 3.38%, EPS grew 31.0%, free cash flow grew 177.9% and total debt fell 3.36%, each against the same quarter a year earlier.
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MillerKnoll, Inc. (MLKN) Altman Z-score
MillerKnoll, Inc.'s Altman Z-score for fiscal 2026 is 1.75, in the distress zone (below 1.81).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2026 | 1.75 | 0.16 |
| FY2025 | 1.59 | (0.27) |
| FY2024 | 1.86 | 0.24 |
| FY2023 | 1.62 | (0.04) |
| FY2022 | 1.66 | (2.08) |
| FY2021 | 3.75 | 1.29 |
| FY2020 | 2.45 | (1.89) |
| FY2019 | 4.34 | 0.14 |
| FY2018 | 4.20 | (0.26) |
| FY2017 | 4.46 | (0.12) |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.10 | — | 0.12 | |
| Retained earnings / total assets | 0.18 | — | 0.25 | |
| EBIT / total assets | 0.05 | — | 0.16 | |
| Market value of equity / total liabilities | 0.42 | — | 0.25 | |
| Sales / total assets | 0.96 | — | 0.96 | |
| Altman Z-score | Distress zone | 1.75 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Grey zone | 2.12 | ||
Z and Z″ put MillerKnoll, Inc. in different zones: distress zone by Z, grey zone by Z″.
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| XMAX XMax Inc. compare | 8.3× |
| TILE Interface, Inc. compare | 4.2× |
| ETD Ethan Allen Interiors Inc. compare | 4.2× |
| LZB La-Z-Boy Incorporated compare | 2.7× |
| MBC MasterBrand, Inc. compare | 2.2× |
| ALH Alliance Laundry Holdings Inc. compare | 1.8× |
| MLKN MillerKnoll, Inc. | 1.7× |
| WHR Whirlpool Corporation compare | 1.3× |
| HNI HNI Corporation compare | 1.3× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets