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MillerKnoll MLKN Global Retail: — Adjusted operating expenses

Other segment segments

North America Contract:
$142.3M+9.5%
International Contract:
$51.6M+16.5%

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Other financials

Income statement

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Revenue$1.0B+4.4%
Gross profit$395.6M+5.0%
Operating income$51.4M-6.5%
Net income$23.6M+141%
EPS (diluted)$0.34+141%

Balance sheet

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Cash & equivalents$167.7M-13.4%
Total debt$1.8B-2.0%
Total equity$1.3B+5.2%
Total assets$4.0B+1.3%

Cash flow

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Operating cash flow$64.8M-8.6%
CapEx$38.9M-1.5%
Free cash flow$25.9M-17.5%

Valuation

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Market cap$1.67B+22.7%
Enterprise value$3.3B+9.9%
P/E18.2×
P/S0.4×+0.1×

Profitability

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Gross margin38.8%0.0pp
Operating margin5.2%+3.8pp
Net margin2.4%+1.8pp
FCF margin2%-0.8pp

Returns & leverage

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Return on equity7%+5.4pp
Debt / equity1.3×-0.1×
Current ratio1.6×0.0×

Where this comes from

Reported directly by MillerKnoll in its filing.

Tagged under the XBRL concept mlkn:OperatingExpensesAdjusted.

The source filing: MillerKnoll’s 10-K, filed July 20, 2026.

Filed
Jul 20, 2026, 4:07 PM EDT
Fiscal year
FY2026
Accession
0000066382-26-000092
(In millions)Year Ended / May 30, 2026Year Ended / May 31, 2025Year Ended / June 1, 2024
Adjusted operating expenses(1):
North America Contract$541.8$511.8$520.6
International Contract184.5167.3160.7
Global Retail460.0427.6424.0
Corporate65.767.752.0
(1) Adjusted operating expenses is defined as operating expenses excluding, when they occur, the impacts of restructuring charges, integration charges, amortization of Knoll purchased intangibles, impairment charges, and significant non-recurring or infrequent items that may not be indicative of ongoing operations.

Item 8 Financial Statements and Supplementary Data

FAQ

What is MillerKnoll's global retail: — adjusted operating expenses?
MillerKnoll (MLKN) reported global retail: — adjusted operating expenses of $117.3M in Q1 2026.
How has MillerKnoll's global retail: — adjusted operating expenses changed year-over-year?
MillerKnoll's global retail: — adjusted operating expenses increased by 5.8% year-over-year, from $110.9M to $117.3M.
What is the long-term trend for MillerKnoll's global retail: — adjusted operating expenses?
Over 3 years (2023 to 2026), MillerKnoll's global retail: — adjusted operating expenses has grown at a -0.0% compound annual growth rate (CAGR), from $460.2M to $460M.
What does global retail: — adjusted operating expenses mean?
Reflects the recurring operational costs required to support the retail segment, excluding non-recurring charges. It provides insight into the segment's overhead structure and the efficiency of its selling, general, and administrative activities.

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