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.
Flawless balance sheet with outstanding track record and pays a dividend.
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's share price has been volatile over the past 3 months.
7 Day Return
US Commercial Services
1 Year Return
US Commercial Services
Return vs Industry: MLHR underperformed the US Commercial Services industry which returned -16.5% over the past year.
Return vs Market: MLHR underperformed the US Market which returned -12.7% over the past year.
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
1 week ago | Simply Wall StHas Herman Miller, Inc. (NASDAQ:MLHR) Improved Earnings Growth In Recent Times?
2 weeks ago | Simply Wall StWhat Is Herman Miller's (NASDAQ:MLHR) P/E Ratio After Its Share Price Tanked?
3 weeks ago | Simply Wall StHerman Miller (NASDAQ:MLHR) Shareholders Have Enjoyed A 24% Share Price Gain
Is Herman Miller undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: MLHR ($24.35) is trading below our estimate of fair value ($120.87)
Significantly Below Fair Value: MLHR is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: MLHR is good value based on its PE Ratio (6.8x) compared to the Commercial Services industry average (20x).
PE vs Market: MLHR is good value based on its PE Ratio (6.8x) compared to the US market (13x).
Price to Earnings Growth Ratio
PEG Ratio: MLHR's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: MLHR is overvalued based on its PB Ratio (1.7x) compared to the US Commercial Services industry average (1.3x).
How is Herman Miller forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: MLHR's earnings are forecast to decline over the next 3 years (-50.4% per year).
Earnings vs Market: MLHR's earnings are forecast to decline over the next 3 years (-50.4% per year).
High Growth Earnings: MLHR's earnings are forecast to decline over the next 3 years.
Revenue vs Market: MLHR's revenue is expected to decline over the next 3 years (-10.2% per year).
High Growth Revenue: MLHR's revenue is forecast to decline over the next 3 years (-10.2% 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 (7.5%).
How has Herman Miller performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: MLHR has high quality earnings.
Growing Profit Margin: MLHR's current net profit margins (7.8%) are higher than last year (5.8%).
Past Earnings Growth Analysis
Earnings Trend: MLHR's earnings have grown by 12.2% per year over the past 5 years.
Accelerating Growth: MLHR's earnings growth over the past year (44.2%) exceeds its 5-year average (12.2% per year).
Earnings vs Industry: MLHR earnings growth over the past year (44.2%) exceeded the Commercial Services industry 2.5%.
Return on Equity
High ROE: MLHR's Return on Equity (23.1%) is considered high.
How is Herman Miller's financial position?
Financial Position Analysis
Short Term Liabilities: MLHR's short term assets ($636.3M) exceed its short term liabilities ($506.1M).
Long Term Liabilities: MLHR's short term assets ($636.3M) exceed its long term liabilities ($571.2M).
Debt to Equity History and Analysis
Debt Level: MLHR's debt to equity ratio (23.2%) is considered satisfactory.
Reducing Debt: MLHR's debt to equity ratio has reduced from 72% to 23.2% over the past 5 years.
Debt Coverage: MLHR's debt is well covered by operating cash flow (131.4%).
Interest Coverage: MLHR's interest payments on its debt are well covered by EBIT (24.4x coverage).
Inventory Level: MLHR has a high level of physical assets or inventory.
Debt Coverage by Assets: MLHR's debt is covered by short term assets (assets are 3x debt).
What is Herman Miller's current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: MLHR's dividend (3.45%) is higher than the bottom 25% of dividend payers in the US market (1.98%).
High Dividend: MLHR's dividend (3.45%) is low compared to the top 25% of dividend payers in the US market (5.49%).
Stability and Growth of Payments
Stable Dividend: MLHR's dividends per share have been stable in the past 10 years.
Growing Dividend: MLHR's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its low payout ratio (5.5%), MLHR's dividend payments are thoroughly covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: MLHR's dividends in 3 years are forecast to be covered by earnings (61.8% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Andi Owen (54yo)
Ms. Andrea R. Owen has been Chief Executive Officer, President and Director of Herman Miller, Inc. since August 22, 2018. Ms. Owen serves as a Director of Taylor Morrison Home Corporation. She served as an ...
CEO Compensation Analysis
Compensation vs Market: Andi's total compensation ($USD4.42M) is about average for companies of similar size in the US market ($USD4.58M).
Compensation vs Earnings: Insufficient data to compare Andi's compensation with company performance.
|Chief Financial Officer||5yrs||US$1.60m||0.046% $655.2k|
|President of North America Contract||no data||US$1.64m||0.045% $642.6k|
|Chief Creative Officer||3yrs||US$1.47m||0.059% $843.8k|
|President of International Contract||3yrs||US$1.22m||0.016% $224.2k|
|Chief Technology Officer||no data||no data||0.0093% $134.0k|
|VP of Investor Relations & Treasurer||no data||no data||0.0021% $29.8k|
|General Counsel||1yr||no data||no data|
|Executive Vice President of Research||15.17yrs||US$929.04k||no data|
|Chief Human Resources Officer||1yr||no data||no data|
Experienced Management: MLHR's management team is considered experienced (3 years average tenure).
|Independent Director||18.17yrs||US$192.93k||0.020% $288.5k|
|Independent Director||9yrs||US$205.34k||0.028% $409.3k|
|Non-Executive Chairman||20.17yrs||US$345.85k||0.13% $1.8m|
|Independent Director||21.17yrs||US$185.00k||0.071% $1.0m|
|Independent Director||15.67yrs||US$183.00k||0.036% $520.3k|
|Independent Director||14.5yrs||US$179.00k||0.052% $753.0k|
|Independent Director||8.17yrs||US$195.00k||0.037% $526.2k|
|Independent Director||6.17yrs||US$181.00k||0.032% $453.0k|
|Independent Director||1.17yrs||US$183.00k||0.0097% $139.4k|
Experienced Board: MLHR's board of directors are seasoned and experienced ( 11.8 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: MLHR insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Herman Miller, Inc.'s company bio, employee growth, exchange listings and data sources
- Name: Herman Miller, Inc.
- Ticker: MLHR
- Exchange: NasdaqGS
- Founded: 1905
- Industry: Office Services and Supplies
- Sector: Commercial Services
- Market Cap: US$1.438b
- Shares outstanding: 59.06m
- Website: https://www.hermanmiller.com
Number of Employees
- Herman Miller, Inc.
- 855 East Main Avenue
- PO Box 302
- United States
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|MLHR||NasdaqGS (Nasdaq Global Select)||Yes||Common Stock||US||USD||Jun 1971|
|MHR||DB (Deutsche Boerse AG)||Yes||Common Stock||DE||EUR||Jun 1971|
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. The company offers seating products under the Embody, Aeron, Mirra2, Setu, Sayl, Verus, Cosm, Lino, Verus, Celle, Equa, Taper, and Ergon names; and modular systems under the Canvas Office Landscape, Locale, Public Office Landscape, Layout Studio, Action Office, Ethospace, Arras, Prospect, Overlay, and Resolve names. It also provides storage products under the Meridian and Tu names; wood case goods under the Geiger name; freestanding furniture products under the Abak, Intent, Sense, and Envelop names; healthcare products under the Palisade, Compass, Nala, Ava, and Nemschoff names; Thrive portfolio of ergonomic solutions, ergonomic, and technology support products under the Colebrook Bosson Saunders name; and textiles under the Maharam name, as well as Live Platform system of cloud-connected furnishings, applications, and dashboards. In addition, the company offers products for residential settings under the Eames, HAY, Nelson, Bubble Lamps, Airia, Ardea, Bumper, Burdick Group, Everywhere, Claw, Caper, Distil, Envelope, Formwork, Full Round, H Frame, I Beam, Landmark, Logic Mini, Logic Power Access Solutions, Renew, Rolled Arm, Scissor, Sled, Soft Pad, Swoop, Tone, Twist, Ward Bennett, and Wireframe names. Its products are used in offices and related conference, lobby, and lounge areas; transportation terminals; hospitals, clinics, and other healthcare facilities; industrial and educational settings; and residential and other environments. The company markets its products through its sales staff, own dealer network, independent dealers and retailers, and independent contract office furniture dealers, as well as through e-commerce Website. Herman Miller, Inc. was founded in 1905 and is headquartered in Zeeland, Michigan.
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2020/03/30 01:58|
|End of Day Share Price||2020/03/27 00:00|
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.