Update shared on 10 Dec 2025
Fair value Decreased 8.57%Analysts have trimmed their price target on MillerKnoll from 35 dollars to 32 dollars, citing a slightly higher discount rate and modest pressure on long term profit margins that more than offset marginally stronger revenue growth and future valuation multiples.
What's in the News
- MillerKnoll formally established its legal presence in the Kingdom of Saudi Arabia, enhancing local decision making and service capabilities to support major Vision 2030 and Expo 2030 related projects across workplace, hospitality, education and healthcare markets (Key Developments).
- The company appointed long time finance executive Kevin Veltman as Chief Financial Officer following his interim tenure, solidifying leadership after his role overseeing the post merger integration with Knoll and prior senior finance positions within MillerKnoll (Key Developments).
- MillerKnoll completed its longstanding share repurchase program, having cumulatively bought back over 24.2 million shares for approximately 668.82 million dollars since the authorization began in 2007, with no shares repurchased in the most recent tranche period (Key Developments).
- For fiscal 2026, management plans to open 12 to 15 new U.S. stores, including new Design Within Reach and Herman Miller locations, as it executes on a strategy to more than double its retail footprint over the next several years (Key Developments).
- The company issued second quarter fiscal 2026 guidance for net sales of 926 million to 966 million dollars, indicating a year over year decline for the quarter and about 3.8 percent growth for the first half once pull forward orders into the prior fiscal year are normalized (Key Developments).
Valuation Changes
- Fair Value: reduced from 35 dollars to 32 dollars, a decrease of about 8.6 percent that reflects a more conservative outlook despite modestly stronger growth inputs.
- Discount Rate: increased slightly from 9.28 percent to 9.78 percent, raising the required return used to discount future cash flows and thereby lowering the present value estimate.
- Revenue Growth: increased modestly from about 2.26 percent to 2.40 percent, signaling a small uplift in long term top line expectations.
- Net Profit Margin: declined from roughly 11.66 percent to 11.11 percent, indicating a minor deterioration in expected long term profitability.
- Future P/E: increased slightly from about 6.42 times to 6.51 times, implying a marginally higher valuation multiple applied to forward earnings.
Have other thoughts on MillerKnoll?
Create your own narrative on this stock, and estimate its Fair Value using our Valuator tool.
Create NarrativeDisclaimer
AnalystConsensusTarget is a tool utilizing a Large Language Model (LLM) that ingests data on consensus price targets, forecasted revenue and earnings figures, as well as the transcripts of earnings calls to produce qualitative analysis. The narratives produced by AnalystConsensusTarget are general in nature and are based solely on analyst data and publicly-available material published by the respective companies. These scenarios are not indicative of the company's future performance and are exploratory in nature. Simply Wall St has no position in the company(s) mentioned. Simply Wall St may provide the securities issuer or related entities with website advertising services for a fee, on an arm's length basis. These relationships have no impact on the way we conduct our business, the content we host, or how our content is served to users. The price targets and estimates used are consensus data, and do not constitute a recommendation to buy or sell any stock, and they do not take account of your objectives, or your financial situation. Note that AnalystConsensusTarget's analysis may not factor in the latest price-sensitive company announcements or qualitative material.