What is MillerKnoll's adjusted operating expenses?

MillerKnoll (MLKN) reported adjusted operating expenses of $316.3M in Q3 2025.

How has MillerKnoll's adjusted operating expenses changed year-over-year?

MillerKnoll's adjusted operating expenses increased by 2.7% year-over-year, from $308.1M to $316.3M.

What does adjusted operating expenses mean?

Total operating expenses excluding one-time charges such as impairment, restructuring, or integration costs. This metric helps investors evaluate the underlying cost structure and operational discipline of the business.

MillerKnoll MLKN Adjusted operating expenses

Discontinued — last reported Q2 '26

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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+15.3%

Enterprise value$2.82B+6.1%

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

Reported directly by MillerKnoll in its filing.

Tagged under the XBRL concept mlkn:OperatingExpensesAdjusted.

The official record: MillerKnoll’s 10-Q, filed January 5, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is MillerKnoll's adjusted operating expenses?: MillerKnoll (MLKN) reported adjusted operating expenses of $316.3M in Q3 2025.
How has MillerKnoll's adjusted operating expenses changed year-over-year?: MillerKnoll's adjusted operating expenses increased by 2.7% year-over-year, from $308.1M to $316.3M.
What does adjusted operating expenses mean?: Total operating expenses excluding one-time charges such as impairment, restructuring, or integration costs. This metric helps investors evaluate the underlying cost structure and operational discipline of the business.