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 14.9×. 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 14.94 14.67
P/S 0.37 0.38 0.53
P/B 0.53 1.08 1.09
Price to free cash flow 13.86 13.16 9.09
EV/EBITDA 30.38 7.45 7.12
EV/Sales 0.79 0.68 0.68
Earnings yield (10.21%) 6.69% 3.67%
Free cash flow yield 7.21% 7.60% 7.21%

Profitability

Metric MBC MLKN Furnishings Fixtures & Appliances median
Gross margin 26.93% 39.53% 37.53%
Operating margin (1.14%) 5.16% 2.52%
Net margin (3.49%) 2.57% 2.02%
Free cash flow margin 2.70% 3.04% 3.16%
Return on equity (5.82%) 7.37% 7.37%
Return on assets (2.61%) 2.46% 2.13%
Return on invested capital (0.64%) 4.96% 3.71%

Growth

Metric MBC MLKN Furnishings Fixtures & Appliances median
Revenue growth (TTM) (0.01%) 1.20% 1.14%
EPS growth (last fiscal year) (78.13%) 344.44% (0.71%)
Revenue growth, 5-year CAGR 2.06% 9.28% 0.64%
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 0.17
Current ratio 1.76 1.65 1.95
Net debt to EBITDA 3.72 3.20 0.06

Dividend

Metric MBC MLKN Furnishings Fixtures & Appliances median
Dividend yield — 3.56% 2.94%
Payout ratio — 0.53 0.51

Size

Metric MBC MLKN Furnishings Fixtures & Appliances median
Market cap 1.39b 1.49b 202.07m

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