NasdaqGS:MLHR

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Executive Summary

Herman Miller, Inc. engages in the research, design, manufacture, and distribution of office furniture systems, seating products, other freestanding furniture elements, textiles, home furnishings, and related services worldwide.


Snowflake Analysis

Mediocre balance sheet with moderate growth potential.


Similar Companies

Share Price & News

How has Herman Miller's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: MLHR has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-3.4%

MLHR

1.2%

US Commercial Services

0.5%

US Market


1 Year Return

-41.8%

MLHR

9.9%

US Commercial Services

18.7%

US Market

Return vs Industry: MLHR underperformed the US Commercial Services industry which returned 9.9% over the past year.

Return vs Market: MLHR underperformed the US Market which returned 18.7% over the past year.


Shareholder returns

MLHRIndustryMarket
7 Day-3.4%1.2%0.5%
30 Day7.2%11.8%4.9%
90 Day19.9%25.3%19.8%
1 Year-40.9%-41.8%11.5%9.9%21.2%18.7%
3 Year-20.7%-25.1%54.6%44.7%46.2%36.8%
5 Year-3.2%-12.4%96.4%76.7%85.3%65.1%

Price Volatility Vs. Market

How volatile is Herman Miller's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Herman Miller undervalued compared to its fair value and its price relative to the market?

1.6%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: MLHR ($24.71) is trading below our estimate of fair value ($25.11)

Significantly Below Fair Value: MLHR is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: MLHR is unprofitable, so we can't compare its PE Ratio to the US Commercial Services industry average.

PE vs Market: MLHR is unprofitable, so we can't compare its PE Ratio to the US market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate MLHR's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: MLHR is overvalued based on its PB Ratio (2.3x) compared to the US Commercial Services industry average (1.5x).


Next Steps

Future Growth

How is Herman Miller forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?

82.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: MLHR is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (2.2%).

Earnings vs Market: MLHR is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: MLHR's is expected to become profitable in the next 3 years.

Revenue vs Market: MLHR's revenue is expected to decline over the next 3 years (-2.7% per year).

High Growth Revenue: MLHR's revenue is forecast to decline over the next 3 years (-2.7% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: MLHR's Return on Equity is forecast to be low in 3 years time (16.8%).


Next Steps

Past Performance

How has Herman Miller performed over the past 5 years?

4.9%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: MLHR is currently unprofitable.

Growing Profit Margin: MLHR is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: MLHR is unprofitable, but has reduced losses over the past 5 years at a rate of 4.9% per year.

Accelerating Growth: Unable to compare MLHR's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: MLHR is unprofitable, making it difficult to compare its past year earnings growth to the Commercial Services industry (-6.5%).


Return on Equity

High ROE: MLHR has a negative Return on Equity (-2.08%), as it is currently unprofitable.


Next Steps

Financial Health

How is Herman Miller's financial position?


Financial Position Analysis

Short Term Liabilities: MLHR's short term assets ($917.1M) exceed its short term liabilities ($513.3M).

Long Term Liabilities: MLHR's short term assets ($917.1M) exceed its long term liabilities ($847.2M).


Debt to Equity History and Analysis

Debt Level: MLHR's debt to equity ratio (88.9%) is considered high.

Reducing Debt: MLHR's debt to equity ratio has increased from 64.1% to 88.9% over the past 5 years.

Debt Coverage: MLHR's debt is well covered by operating cash flow (36%).

Interest Coverage: MLHR is unprofitable, therefore interest payments are not well covered by earnings.


Balance Sheet


Next Steps

Dividend

What is Herman Miller current dividend yield, its reliability and sustainability?

3.40%

Forecast Dividend Yield


Dividend Yield vs Market

Notable Dividend: Unable to evaluate MLHR's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate MLHR's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if MLHR's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if MLHR's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: MLHR is not paying a notable dividend for the US market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of MLHR's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

2.0yrs

Average management tenure


CEO

Andi Owen (55 yo)

2yrs

Tenure

US$4,421,162

Compensation

Ms. Andrea R. Owen, also known as Andi, has been Chief Executive Officer, President and Director of Herman Miller, Inc. since August 22, 2018. Ms. Owen serves as a Director of Taylor Morrison Home Corporat ...


CEO Compensation Analysis

Compensation vs Market: Andi's total compensation ($USD4.42M) is about average for companies of similar size in the US market ($USD4.55M).

Compensation vs Earnings: Insufficient data to compare Andi's compensation with company performance.


Leadership Team

NamePositionTenureCompensationOwnership
Andrea Owen
President2yrsUS$4.42mno data
Jeffrey Stutz
Chief Financial Officer5.5yrsUS$1.60m0.052%
$ 761.4k
Gregory Bylsma
President of North America Contract & Global Operationsno dataUS$1.64m0.053%
$ 771.1k
B. Watson
Chief Creative Officer3.5yrsUS$1.47m0.065%
$ 944.9k
Jeremy Hocking
President of International Contract3.5yrsUS$1.22m0.019%
$ 271.4k
Richard Scott
Senior Vice President of Global Operations1.17yrsno datano data
Jeffrey Kurburski
Chief Technology Officerno datano data0.012%
$ 174.3k
Kevin Veltman
VP of Investor Relations & Treasurerno datano data0.0040%
$ 57.5k
Jacqueline Rice
General Counsel1.5yrsno datano data
Donald Goeman
Executive Vice President of Research15.58yrsUS$929.04kno data
Tim Straker
Chief Marketing Officer0.58yrno datano data
Leander LeSure
Chief Human Resources Officer1.5yrsno datano data

2.0yrs

Average Tenure

54yo

Average Age

Experienced Management: MLHR's management team is considered experienced (2 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Andrea Owen
President2yrsUS$4.42mno data
Douglas D. French
Independent Director18.58yrsUS$192.93k0.020%
$ 292.9k
David Brandon
Independent Director9.5yrsUS$205.34k0.029%
$ 415.5k
Michael Volkema
Independent Non-Executive Chairman20.58yrsUS$345.85k0.21%
$ 3.1m
Mary Andringa
Independent Director21.58yrsUS$185.00k0.063%
$ 915.0k
John Hoke
Independent Director14.92yrsUS$179.00k0.053%
$ 764.4k
Lisa Kro
Independent Director8.58yrsUS$195.00k0.037%
$ 534.2k
Heidi Manheimer
Independent Director6.58yrsUS$181.00k0.032%
$ 459.8k
Michael Smith
Independent Director1.58yrsUS$183.00k0.0097%
$ 141.6k

9.5yrs

Average Tenure

57yo

Average Age

Experienced Board: MLHR's board of directors are considered experienced (9.5 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: MLHR insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Herman Miller, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Herman Miller, Inc.
  • Ticker: MLHR
  • Exchange: NasdaqGS
  • Founded: 1905
  • Industry: Office Services and Supplies
  • Sector: Commercial Services
  • Market Cap: US$1.455b
  • Shares outstanding: 58.87m
  • Website: https://www.hermanmiller.com

Number of Employees


Location

  • Herman Miller, Inc.
  • 855 East Main Avenue
  • PO Box 302
  • Zeeland
  • Michigan
  • 49464-0302
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
MLHRNasdaqGS (Nasdaq Global Select)YesCommon StockUSUSDJun 1971
MHRDB (Deutsche Boerse AG)YesCommon StockDEEURJun 1971

Biography

Herman Miller, Inc. engages in the research, design, manufacture, and distribution of office furniture systems, seating products, other freestanding furniture elements, textiles, home furnishings, and rela ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/08/14 11:45
End of Day Share Price2020/08/13 00:00
Earnings2020/05/30
Annual Earnings2020/05/30


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.