MLKN · sample dossier
MillerKnoll, Inc. Common Stock
57/100
OutdatedGenerated Sep 19, 2026 · 10:00 AM UTC · 48 days ago
This copy is frozen (Sep 19). Sign in to run the same work — filings, valuation, bull and bear, sources — on any US stock or ETF, in about 90 seconds.
Run a fresh dossierMLKN
EquityMillerKnoll, Inc. Common Stock · XNAS
Decision context
Recommendation
Balanced between solid Value (90/100) and constrained Growth (29/100).
A mixed picture — no strong reason to buy or sell right now.
AlphaDog Fair Value
Executive thesis & key metrics
Executive Investment Thesis
MillerKnoll, Inc. designs and manufactures interior furnishings for residential and commercial environments, holding a market capitalization of $1.42B and trading at an EV/EBITDA multiple of 8.74. A hold stance aligns with subdued YoY revenue growth of 4.4%, a slim net margin of 2.4%, and an ROA of 3.3% despite a supportive Price/Book ratio of 1.05. The primary risk is corporate leverage, highlighted by a Debt/Equity ratio of 1.28 and an Altman Z-score of 2.06 positioned in the grey distress band.
Key Metrics to Watch
What changed recently
No material changes found in the last 30 days.
Why this rating
Score 57 · Hold
Data through
OutdatedMay 31, 2026
Value 90/100 — P/E 16.0x screens cheap vs inputs.
Re-evaluate if
- Net margin falls below 1.9% (was 2.4%)
- Debt/Equity ratio increases above 1.28.
Trim / reconsider if
- ROA falls below 2.2% (was 3.3%)
Think of these dollars as a map of our value estimate for Hold — helpful context, not a reason to override the view.
A Calmer Look · Devil's Advocate
The consensus Hold verdict and debate draw complacency rely on an illusory margin of safety provided by an EV/EBITDA of 8.7 and a Price/Book of 1.05.
May be overlooked
Consensus ignores that an Altman Z-score of 2.06 leaves the company just 0.25 points above the distress threshold of 1.81, creating high solvency sensitivity given the 1.28 Debt/Equity ratio.
The analysis fails to model downside sensitivity for the slim 2.4% net margin, where a contraction of just 240 basis points in the 38.8% gross margin would eliminate bottom-line profitability entirely.
The debate fails to analyze the governance drag of operating under interim executive leadership while attempting to service high debt with an ROA of only 3.3%.
Expectations look stretched
Bulls extrapolate past 3-month gains of 25.2% while discounting the immediate technical reversal represented by a -11.1% 1-month decline below the 50-day moving average.
Relying on a Piotroski F-score of 8/9 and $1.20 FCF per share masks structurally weak return on capital, which stands at an ROA of 3.3%.
Consensus presumes the 1.05 Price/Book ratio offers strong downside asset support, despite book value being eroded by an elevated Debt/Equity ratio of 1.28.
Revenue Growth YoY falls below 4.4%.
Revenue Growth YoY falls below 4.4%.
Monitor These Triggers
4 Checkpoints · Next PrintRevenue Growth YoY (current baseline: 4.4%)
Market context
Snapshot returns at report publication
1 month
-11.1%
3 months
+25.2%
6 months
+15.4%
1 year
+3.1%
At a Glance
A smaller company has mixed momentum at fair pricing.
Top Holders
Financial trajectory
Financial Performance
Go deeper
For learning and research only — not investment advice. AlphaDog doesn’t hold stocks and isn’t your financial advisor.
Run the next one yourself.
You just read a full MLKN dossier — scored verdict, valuation, and both sides, with sources. Sign in to run that on a name you hold, on current filings. A free account includes 10 credits a week, 1 per fresh run.