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MillerKnoll MLKN Adjusted cost of sales

Discontinued — last reported Q2 '26

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Segments

By segment

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North America Contract:$332.9M+5.2%
Global Retail:$162M+7.3%
International Contract:$112.5M-4.3%

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:CostOfSalesAdjusted.

The source filing: MillerKnoll’s 10-Q, filed January 5, 2026.

Filed
Jan 5, 2026, 4:06 PM EST
Fiscal quarter
Q2 FY2026
Calendar quarter
Q4 2025
Accession
0000066382-26-000010
(In millions)Three Months Ended / November 29, 2025Three Months Ended / November 30, 2024Six Months Ended / November 29, 2025Six Months Ended / November 30, 2024
Adjusted cost of sales(1):
North America Contract$322.6$334.8$660.5$638.8
International Contract109.0115.9217.3208.4
Global Retail151.3142.7292.7270.9
Total$582.9$593.4$1,170.5$1,118.1
(1) Adjusted cost of sales is defined as cost of sales excluding, when they occur, the impacts of restructuring charges and integration charges.

Item 1: Financial Statements

FAQ

What is MillerKnoll's adjusted cost of sales?
MillerKnoll (MLKN) reported adjusted cost of sales of $582.9M in Q3 2025.
How has MillerKnoll's adjusted cost of sales changed year-over-year?
MillerKnoll's adjusted cost of sales decreased by 1.8% year-over-year, from $593.4M to $582.9M.
What does adjusted cost of sales mean?
The direct costs attributable to the production of goods sold, excluding non-recurring or non-operational items like restructuring or integration costs. It provides a normalized view of the core manufacturing and supply chain efficiency.

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