What is MillerKnoll's net debt?

MillerKnoll (MLKN) reported net debt of $1.64B in Q4 2025.

How has MillerKnoll's net debt changed year-over-year?

MillerKnoll's net debt decreased by 2.6% year-over-year, from $1.68B to $1.64B.

What is the long-term trend for MillerKnoll's net debt?

Over 4 years (2021 to 2025), MillerKnoll's net debt has grown at a 93.0% compound annual growth rate (CAGR), from $118.5M to $1.65B.

What does net debt mean?

Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.

MillerKnoll MLKN Net debt

Discontinued — last reported Q3 '26

Net debt at other companies

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1.1×-0.3×

Travel + LeisureTNL

6×+1.6×

UnifirstUNF

-0.2×-0.1×

HES

Hess MidstreamHESM

3.1×-0.1×

Korn FerryKFY

-0.8×+0.8×

TDA

USA TODAY Co., Inc.TDAY

8.8×+4.2×

Other financials

Income statement

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Revenue$926.6M+5.8%

Gross profit$352.9M+6.2%

Operating income$44.9M+155%

Net income$23.5M+285%

EPS (diluted)$0.34+279%

Balance sheet

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Cash & equivalents$174.6M+2.8%

Total debt$1.8B-2.1%

Total equity$1.3B+6.5%

Total assets$4.0B+1.4%

Cash flow

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Operating cash flow$61.1M-1.5%

CapEx$22.1M-4.7%

Free cash flow$39.0M+0.5%

Valuation

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Market cap$1.18B+2.9%

Enterprise value$2.82B+1.0%

P/E109.2×+67.4×

P/S0.3×0.0×

Profitability

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Gross margin38.7%-0.2pp

Operating margin5.3%+4.8pp

Net margin0.3%-0.6pp

FCF margin2.2%-1.3pp

Returns & leverage

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Return on equity0.8%-1.4pp

Debt / equity1.4×-0.1×

Current ratio1.6×0.0×

Where this comes from

Calculated from MillerKnoll’s reported figures.

$1.8Btotal debt−$174.6Mcash and equivalents=$1.64B

The official record: MillerKnoll’s 10-Q, filed March 30, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is MillerKnoll's net debt?: MillerKnoll (MLKN) reported net debt of $1.64B in Q4 2025.
How has MillerKnoll's net debt changed year-over-year?: MillerKnoll's net debt decreased by 2.6% year-over-year, from $1.68B to $1.64B.
What is the long-term trend for MillerKnoll's net debt?: Over 4 years (2021 to 2025), MillerKnoll's net debt has grown at a 93.0% compound annual growth rate (CAGR), from $118.5M to $1.65B.
What does net debt mean?: Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.