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Millerknoll cash flow, quarter by quarter

Latest: Q1 FY27 · from the cash-flow statements filed with the SEC

Free cash flow$16.6M in Q1 FY27 · $116M over twelve months

Operating cash flow$49.1M
Capital spending−$32.5M
Free cash flow+$16.6M
Cash / net income1.8×
Cash conversion cycle73 days

Analysis

In Q1 FY27, Millerknoll generated $49.1M of operating cash flow and spent $32.5M on capital projects, leaving free cash flow of $16.6M.

Over the twelve months to Aug 29, 2026, operating cash flow was $240M; the largest uses were capital spending ($124M), net borrowing (+) / repaid (−) ($88.2M), dividends ($51.2M); besides operations, cash came from other financing ($18.6M), shares issued ($8.2M); the cash balance rose by $11.4M.

Operating cash flow was $49.1M against net income of $27.6M — 1.8× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$34.5M, stock-based pay +$8.1M, deferred taxes +$100K.

Its cash conversion cycle was 73 days (receivables 33 + inventory 85 − payables 45).

Free cash flow

Millerknoll: free cash flow by quarterMillerknoll: free cash flow by quarter$33.0MQ2 FY25$38.8MQ3 FY25$31.4MQ4 FY25−$21.3MQ1 FY26$34.0MQ2 FY26$39.0MQ3 FY26$25.9MQ4 FY26$16.6MQ1 FY27
Operating cash flow less capital spending.
Millerknoll: operating cash flow against capital spendingMillerknoll: operating cash flow against capital spendingOperating cash flowCapital spending$55.3M$22.3MQ2 FY25$62.0M$23.2MQ3 FY25$70.9M$39.5MQ4 FY25$9.4M$30.7MQ1 FY26$64.6M$30.6MQ2 FY26$61.1M$22.1MQ3 FY26$64.8M$38.9MQ4 FY26$49.1M$32.5MQ1 FY27
Latest (Q1 FY27): Operating cash flow $49.1M, Capital spending $32.5M.

Capital allocation, year by year

Millerknoll: where the cash came from (up) and went (down), by fiscal yearMillerknoll: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksDividendsFY22: Operating cash flow −$11.9MFY22: Net borrowing $188MFY22: Shares issued $10.6MFY22: Asset sales $2.8MFY22: Capital spending −$94.7MFY22: Acquisitions −$1.1BFY22: Buybacks −$16.2MFY22: Dividends −$54.5M$201MFY22FY23: Operating cash flow $163MFY23: Net borrowing $13.7MFY23: Shares issued $6.5MFY23: Asset sales $300KFY23: Capital spending −$83.3MFY23: Buybacks −$16.0MFY23: Dividends −$57.1M$183MFY23FY24: Operating cash flow $352MFY24: Net borrowing −$37.0MFY24: Shares issued $7.6MFY24: Capital spending −$78.4MFY24: Buybacks −$138MFY24: Dividends −$55.6M$360MFY24FY25: Operating cash flow $209MFY25: Net borrowing −$62.0MFY25: Shares issued $8.0MFY25: Asset sales $6.5MFY25: Capital spending −$108MFY25: Buybacks −$84.9MFY25: Dividends −$51.7M$224MFY25FY26: Operating cash flow $200MFY26: Net borrowing −$21.9MFY26: Shares issued $5.0MFY26: Asset sales $200KFY26: Capital spending −$122MFY26: Dividends −$51.1M$205MFY26
Over these 5 years operating cash flow totalled $912M; the largest uses were acquisitions ($1.1B) and capital spending ($486M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$179M
Debt$200M
Net debt$21.4M
Due within a year$25.1M

Millerknoll funds itself: free cash flow was $116M over the last twelve months, and $179M of cash and investments stands against $200M of debt ($25.1M due within a year, 7.1× covered by cash).

Millerknoll: debt maturities by year (FY26)Millerknoll: debt maturities by year (FY26)$25.1MYear 1$25.8MYear 2$76.2MYear 3$642MYear 4$5.5MYear 5$520MAfter year 5
Principal due in each year as disclosed in the annual report, against $179M of cash and investments now.

Where the cash came from and went

Millerknoll: sources (+) and uses (−) of cash, Q1 FY27Millerknoll: sources (+) and uses (−) of cash, Q1 FY27Operating cash flow$49.1MCapital spending−$32.5MDividends−$12.8MCash drawn (+) / kept (−)−$10.9MShares issued$4.6MNet borrowing (+) / repaid (−)$2.3MExchange rates−$1.3MOther financing$1.1MOther investing$400K
Millerknoll: sources (+) and uses (−) of cash, TTM to Q1 FY27Millerknoll: sources (+) and uses (−) of cash, TTM to Q1 FY27Operating cash flow$240MCapital spending−$124MNet borrowing (+) / repaid (−)−$88.2MDividends−$51.2MOther financing$18.6MCash drawn (+) / kept (−)−$11.4MShares issued$8.2MOther investing$6.9MExchange rates$1.6M

From profit to cash

Millerknoll: net income to operating cash flow, Q1 FY27Millerknoll: net income to operating cash flow, Q1 FY27Net income$27.6MDepreciation & amortization$34.5MStock-based pay$8.1MDeferred taxes$100KOperating cash flow$49.1M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q1 FY2733854573
Q4 FY2631734163
Q3 FY2632774167
Q2 FY2631744065
Q1 FY2632714163
Q4 FY2532684060
Q3 FY2534724065
Q2 FY2528673758

Every quarter

QuarterOperating cash flowCapital spendingBuybacksDividendsNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q1 FY27$49.1M−$32.5M—−$12.8M$2.3M$4.6M−$10.9M$16.6M
Q4 FY26$64.8M−$38.9M—−$12.8M$15.7M$700K$6.9M$25.9M
Q3 FY26$61.1M−$22.1M—−$12.7M−$51.5M$2.2M$5.8M$39.0M
Q2 FY26$64.6M−$30.6M—−$12.9M−$54.7M$700K−$13.2M$34.0M
Q1 FY26$9.4M−$30.7M—−$12.7M$68.9M$900K$26.5M−$21.3M
Q4 FY25$70.9M−$39.5M−$100K−$12.7M−$85.7M$800K−$23.9M$31.4M
Q3 FY25$62.0M−$23.2M−$17.9M−$12.8M−$49.1M$1.8M$51.3M$38.8M
Q2 FY25$55.3M−$22.3M−$23.2M−$13.0M$30.0M$1.1M−$11.4M$33.0M

Millerknoll: income statement and cash flow

Millerknoll, Q1 FY27: revenue $923M (-3% year over year), operating margin 5.6%. The chart follows the revenue to costs, profit and cash.

Millerknoll: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.