MLHR

Herman MillerNasdaqGS:MLHR Stock Report

Market Cap

US$3.1b

7D

-1.6%

1Y

26.2%

Updated

20 Sep, 2021

Data

Company Financials +
MLHR fundamental analysis
Snowflake Score
Valuation5/6
Future Growth5/6
Past Performance2/6
Financial Health6/6
Dividends4/6

MLHR Overview

Herman Miller, Inc. researches, designs, manufactures, and distributes interior furnishings worldwide.

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 is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: MLHR's weekly volatility (5%) has been stable over the past year.


Market Performance


7 Day Return

-1.6%

MLHR

-2.2%

US Commercial Services

-2.5%

US Market


1 Year Return

26.2%

MLHR

27.6%

US Commercial Services

33.0%

US Market

Return vs Industry: MLHR matched the US Commercial Services industry which returned 26.5% over the past year.

Return vs Market: MLHR underperformed the US Market which returned 33.8% over the past year.


Shareholder returns

MLHRIndustryMarket
7 Day-1.6%-2.2%-2.5%
30 Day-4.2%-0.5%-0.9%
90 Day-14.0%3.3%0.8%
1 Year28.5%26.2%29.1%27.6%35.0%33.0%
3 Year9.4%4.1%51.7%42.0%57.6%47.9%
5 Year50.5%37.3%132.3%110.5%120.8%96.7%

Long-Term 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

Herman Miller Fundamentals Summary

How do Herman Miller's earnings and revenue compare to its market cap?
MLHR fundamental statistics
Market CapUS$3.14b
Earnings (TTM)US$173.10m
Revenue (TTM)US$2.47b

17.5x

P/E Ratio

1.2x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
MLHR income statement (TTM)
RevenueUS$2.47b
Cost of RevenueUS$1.52b
Gross ProfitUS$949.20m
ExpensesUS$776.10m
EarningsUS$173.10m

Last Reported Earnings

May 29, 2021

Next Earnings Date

Sep 29, 2021

Earnings per share (EPS)2.94
Gross Margin38.51%
Net Profit Margin7.02%
Debt/Equity Ratio31.5%

How did MLHR perform over the long term?

See historical performance and comparison

Dividends

1.9%

Current Dividend Yield

19%

Payout Ratio

Valuation

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

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: MLHR ($40.09) is trading below our estimate of fair value ($133.63)

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 (17.5x) compared to the US Commercial Services industry average (32.2x).

PE vs Market: MLHR is good value based on its PE Ratio (17.5x) compared to the US market (17.8x).


Price to Earnings Growth Ratio

PEG Ratio: MLHR is good value based on its PEG Ratio (0.7x)


Price to Book Ratio

PB vs Industry: MLHR is overvalued based on its PB Ratio (3.6x) compared to the US Commercial Services industry average (2.7x).


Future Growth

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

26.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: MLHR's forecast earnings growth (26.7% per year) is above the savings rate (2%).

Earnings vs Market: MLHR's earnings (26.7% per year) are forecast to grow faster than the US market (14.8% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: MLHR's revenue (26.2% per year) is forecast to grow faster than the US market (9.8% per year).

High Growth Revenue: MLHR's revenue (26.2% per year) is forecast to grow faster than 20% 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 (16.1%).


Past Performance

How has Herman Miller performed over the past 5 years?

-11.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: MLHR has high quality earnings.

Growing Profit Margin: MLHR became profitable in the past.


Past Earnings Growth Analysis

Earnings Trend: MLHR's earnings have declined by 11.7% per year over the past 5 years.

Accelerating Growth: MLHR has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: MLHR has become profitable in the last year, making it difficult to compare its past year earnings growth to the Commercial Services industry (30.4%).


Return on Equity

High ROE: MLHR's Return on Equity (19.3%) is considered low.


Financial Health

How is Herman Miller's financial position?


Financial Position Analysis

Short Term Liabilities: MLHR's short term assets ($891.5M) exceed its short term liabilities ($500.8M).

Long Term Liabilities: MLHR's short term assets ($891.5M) exceed its long term liabilities ($634.5M).


Debt to Equity History and Analysis

Debt Level: MLHR's debt to equity ratio (31.5%) is considered satisfactory.

Reducing Debt: MLHR's debt to equity ratio has reduced from 40.2% to 31.5% over the past 5 years.

Debt Coverage: MLHR's debt is well covered by operating cash flow (114%).

Interest Coverage: MLHR's interest payments on its debt are well covered by EBIT (20.2x coverage).


Balance Sheet


Dividend

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

1.87%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: MLHR's dividend (1.87%) is higher than the bottom 25% of dividend payers in the US market (1.33%).

High Dividend: MLHR's dividend (1.87%) is low compared to the top 25% of dividend payers in the US market (3.6%).


Stability and Growth of Payments

Stable Dividend: MLHR's dividend payments have been volatile 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 (19.2%), MLHR's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: MLHR's dividends in 3 years are forecast to be well covered by earnings (23.2% payout ratio).


Next Steps

Management

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

3.1yrs

Average management tenure


CEO

Andi Owen (56 yo)

3.08yrs

Tenure

US$4,658,464

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's employment with the Herman Miller, Inc. commenced o...


CEO Compensation Analysis

Compensation vs Market: Andi's total compensation ($USD4.66M) is about average for companies of similar size in the US market ($USD5.27M).

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


Leadership Team

Experienced Management: MLHR's management team is considered experienced (3.1 years average tenure).


Board Members

Experienced Board: MLHR's board of directors are considered experienced (9.7 years average tenure).


Ownership

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

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 28.7%.


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$3.139b
  • Shares outstanding: 75.75m
  • 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


Biography

Herman Miller, Inc. researches, designs, manufactures, and distributes interior furnishings worldwide. It operates through North America Contract, International Contract, and Retail segments. The company o...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/09/20 22:26
End of Day Share Price2021/09/20 00:00
Earnings2021/05/29
Annual Earnings2021/05/29


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.