MasterBrand, Inc. (MBC) vs MillerKnoll, Inc. (MLKN)

MasterBrand, Inc. and MillerKnoll, Inc. are both Furnishings Fixtures & Appliances companies. MasterBrand, Inc. and MillerKnoll, Inc. are of similar size ($1.5B and $1.4B). MasterBrand, Inc. has negative trailing earnings, so its P/E is not meaningful; MillerKnoll, Inc. trades at 15.5×. MillerKnoll, Inc. grew revenue faster over the last twelve months: 1.20% against −0.01%. MillerKnoll, Inc. has the higher net margin (2.57% vs −3.49%) and the higher return on invested capital (4.96% vs −0.64%). Across the 21 metrics below, MillerKnoll, Inc. leads on 17 and MasterBrand, Inc. on 4.

Valuation

Metric MBC MLKN Furnishings Fixtures & Appliances median
P/E n/m 15.53 15.05
P/S 0.39 0.40 0.57
P/B 0.55 1.12 1.15
Price to free cash flow 14.46 13.68 10.12
EV/EBITDA 30.99 7.61 7.61
EV/Sales 0.80 0.69 0.68
Earnings yield (9.79%) 6.44% 3.17%
Free cash flow yield 6.92% 7.31% 7.12%

Profitability

Metric MBC MLKN Furnishings Fixtures & Appliances median
Gross margin 26.93% 39.53% 37.63%
Operating margin (1.14%) 5.16% 2.99%
Net margin (3.49%) 2.57% 2.29%
Free cash flow margin 2.70% 3.04% 4.26%
Return on equity (5.82%) 7.37% 7.66%
Return on assets (2.61%) 2.46% 2.30%
Return on invested capital (0.64%) 4.96% 3.70%

Growth

Metric MBC MLKN Furnishings Fixtures & Appliances median
Revenue growth (TTM) (0.01%) 1.20% 1.07%
EPS growth (last fiscal year) (78.13%) 344.44% (6.04%)
Revenue growth, 5-year CAGR 2.06% 9.28% 0.50%
Net income growth, 5-year CAGR (28.78%) (12.12%) 0.00%

Health

Metric MBC MLKN Furnishings Fixtures & Appliances median
Debt to equity 0.71 0.96 0.06
Current ratio 1.76 1.65 2.00
Net debt to EBITDA 3.72 3.20 0.21

Dividend

Metric MBC MLKN Furnishings Fixtures & Appliances median
Dividend yield — 3.42% 2.87%
Payout ratio — 0.53 0.51

Size

Metric MBC MLKN Furnishings Fixtures & Appliances median
Market cap 1.44b 1.51b 228.02m

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