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/MLKN
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MillerKnoll Inc

MillerKnoll Inc

MLKN
$21.82USD↓-0.68%-0.15 today

MARKET CAP

1.5B

P/E (TTM)

11.7x

FWD P/E

10.7x

DAY RANGE

$21 – $22

52W RANGE

$14
$23

AI Summary

Stalk
StalkMedium

MLKN remains in a Stage 2 advance with a clear sequence of higher highs and higher lows anchoring a medium-term bullish bias. However, price is extreme overbought and just printed a Bullish Exhaustion candle at a marginal new high, signaling short-term fatigue. With EMAs steeply rising, pullbacks into the 9/21/50 EMA cluster and prior resistance zone will offer structurally sound entry points. New long entries are best deferred and stalked on a disciplined retracement.

  • ↑Q4 FY26 revenue $1B (+4.4% YoY) with 39.4% gross margin and $0.55 EPS (top guidance)
  • ↑$679M backlog underscores strong contract segment demand
  • ↓Negative profitability factors and tariff‐driven margin pressures risk earnings
Full analysis →

The case for & against

Bull & Bear analysis

Bullish

MillerKnoll, Inc. (NASDAQ: MLKN) operates in the commercial and residential sectors of the furniture industry, known for its distinct brands like Herman Miller and Knoll. The company is strategically positioned to deliver innovative design solutions to diverse environments, including offices, healthcare, and educational settings. MillerKnoll leverages its strong brand portfolio to enhance customer experiences while navigating evolving demands amid competitive pressures. The renewal of its market presence and profitability indicates a potential drive towards sustainable growth in a recovering economy.

Bull says

  • ↑Q4 FY26 revenue $1B (+4.4% YoY) with 39.4% gross margin and $0.55 EPS (top guidance)
  • ↑$679M backlog underscores strong contract segment demand
  • ↑Plans to open 14–15 new stores support retail footprint expansion
  • ↑North America contract orders rose 13.1% YoY, driven by office reopenings
  • ↑Launched 30+ new products, fueling 20% growth in new‐product orders
  • ↑High earnings yield, robust book‐to‐price ratio, and positive analyst revisions indicate undervaluation

Bear says

  • ↓Negative profitability factors and tariff‐driven margin pressures risk earnings
  • ↓Q4 orders fell 6.3% YoY after prior pull‐ahead, signaling revenue volatility
  • ↓Exposure to oil‐price swings and geopolitical tensions may raise costs
  • ↓Operations cash flow of $65M faces pressure from new store investments
  • ↓Debt reduction of $41M offset by share‐based compensation and high short interest
  • ↓Weak liquidity and low institutional ownership suggest capital management concerns

Investment themes with MLKN

High Dividend Yield↑ +0.32%

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 ›