Lumida
/MLKN
⌘K
MillerKnoll Inc

MillerKnoll Inc

MLKN
$21.19USD↑+1.88%+0.39 today

MARKET CAP

1.5B

P/E (TTM)

11.2x

FWD P/E

10.1x

DAY RANGE

$21 – $21

52W RANGE

$14
$25

AI Summary

Stalk
Sell NowMedium

Price broke below the consolidation floor on elevated volume and is now trading below key short-term EMAs and the 50-day SMA, confirming a medium-term bearish bias. Stage 4 decline signals continued selling pressure, and short-term timing favors joining the breakdown now. Secular uptrend remains intact above the rising 200-day MA, but further downside is likely until proven otherwise.

  • ↑Q3 net sales $927M (+5.8% YoY) with orders and comp sales up 8%
  • ↑Plans 14–15 new stores in FY26 to expand retail footprint
  • ↓Orders declined 6.3% YoY in Q3, backlog down 10.8% indicating demand volatility
Full analysis →

The case for & against

Bull & Bear analysis

Bearish

MillerKnoll, Inc. (MLKN) is a prominent player in the furniture design and manufacturing industry, specializing in both commercial and residential solutions. The company operates through well-known brands, including Herman Miller and Knoll, and is focused on delivering innovative and sustainable products to enhance customer experiences. Positioned in the growing market for premium office spaces and interior designs, MillerKnoll aims to capitalize on the increasing demand for high-quality work environments as organizations adapt to modern workplace needs, including hybrid work models.

Bull says

  • ↑Q3 net sales $927M (+5.8% YoY) with orders and comp sales up 8%
  • ↑Plans 14–15 new stores in FY26 to expand retail footprint
  • ↑Gross margin rose to 39.2% as pricing offsets tariff costs
  • ↑New product launches up 50%, driving fresh customer demand
  • ↑High earnings yield and strong book-to-price with dividend yield

Bear says

  • ↓Orders declined 6.3% YoY in Q3, backlog down 10.8% indicating demand volatility
  • ↓Gross margin 39.2% masks weak operating conversion amid tariff headwinds
  • ↓High leverage limits flexibility as management balances growth and debt reduction
  • ↓Geopolitical tensions in Middle East disrupt international sales and inflate costs
  • ↓Vulnerable to raw-material inflation and interest-rate sensitivity raising cost risks
  • ↓High short interest (~9.6%) and negative sentiment may weigh on shares

Investment themes with MLKN

High Dividend Yield↓ -0.51%

Companies paying above-average dividends

AVGO · JPM · XOM

Earnings Call · Q4 2025 · Mgmt. Guidance

Updated 07-15-2026neutral

Transcript signals

Bull points

  • We are very pleased with our strong finish to fiscal 2025, with our Q4 results significantly exceeding our expectations.
  • In our contract businesses, we made incredible progress, and we have multiple opportunities to grow our market share, both in North America and internationally.
  • With these new locations, we've improved the quality of our customer interactions, and have seen a significant increase in customer visits, positioning us to capitalize on our product and brand leadership as trends improve in our markets.

Bear points

  • Prior to tariffs being reimposed in January, we had seen three consecutive quarters of order growth in the North American contract segment. While the onset of tariffs interrupted this trend in the third quarter, we were pleased to see a return to order growth in the fourth quarter, which Jeff will detail shortly.
  • you're facing the tariffs, but you don't have the surcharge to offset it.
  • That's typically a two-quarter dynamic for us, so we imagine it'll be the biggest impact in Q1. It'll lessen a bit in Q2, and then we should see pretty healthy coverage in Q3 and Q4.
Read full transcript analysis ›