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Knoll

NYSE:KNL
Snowflake Description

Good value with adequate balance sheet and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
KNL
NYSE
$1B
Market Cap
  1. Home
  2. US
  3. Commercial Services
Company description

Knoll, Inc., together with its subsidiaries, designs, manufactures, markets, and sells commercial and residential furniture, accessories, and coverings for the workplace and residential markets in the United States, Canada, Europe, and internationally. The last earnings update was 73 days ago. More info.


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KNL Share Price and Events
7 Day Returns
-2.5%
NYSE:KNL
0.5%
US Commercial Services
-1.2%
US Market
1 Year Returns
7.4%
NYSE:KNL
10.5%
US Commercial Services
3.4%
US Market
KNL Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Knoll (KNL) -2.5% 7.9% 12.8% 7.4% -9.7% 34.5%
US Commercial Services 0.5% -0.1% 4.8% 10.5% 51% 80.6%
US Market -1.2% 0.7% 1.7% 3.4% 35.5% 41.6%
1 Year Return vs Industry and Market
  • KNL underperformed the Commercial Services industry which returned 10.5% over the past year.
  • KNL outperformed the Market in United States of America which returned 3.4% over the past year.
Price Volatility
KNL
Industry
5yr Volatility vs Market
Related Companies

KNL Value

 Is Knoll undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Knoll to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Knoll.

NYSE:KNL Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 3 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.5%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:KNL
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Commercial Services Unlevered Beta Simply Wall St/ S&P Global 0.67
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.672 (1 + (1- 21%) (51.57%))
0.964
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.96
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.964 * 5.96%)
8.47%

Discounted Cash Flow Calculation for NYSE:KNL using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Knoll is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

NYSE:KNL DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 8.47%)
2020 108.15 Analyst x2 99.70
2021 117.00 Analyst x1 99.44
2022 125.00 Analyst x1 97.94
2023 134.00 Analyst x1 96.79
2024 141.62 Est @ 5.69% 94.30
2025 148.42 Est @ 4.8% 91.11
2026 154.62 Est @ 4.18% 87.50
2027 160.41 Est @ 3.74% 83.69
2028 165.93 Est @ 3.44% 79.80
2029 171.28 Est @ 3.23% 75.94
Present value of next 10 years cash flows $906.21
NYSE:KNL DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $171.28 × (1 + 2.73%) ÷ (8.47% – 2.73%)
$3,063.90
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $3,063.90 ÷ (1 + 8.47%)10
$1,358.50
NYSE:KNL Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $906.21 + $1,358.50
$2,264.71
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $2,264.71 / 48.84
$46.37
NYSE:KNL Discount to Share Price
Calculation Result
Value per share (USD) From above. $46.37
Current discount Discount to share price of $22.90
= -1 x ($22.90 - $46.37) / $46.37
50.6%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Knoll is available for.
Intrinsic value
>50%
Share price is $22.9 vs Future cash flow value of $46.37
Current Discount Checks
For Knoll to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Knoll's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Knoll's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Knoll's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Knoll's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:KNL PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $1.56
NYSE:KNL Share Price ** NYSE (2019-07-19) in USD $22.9
United States of America Commercial Services Industry PE Ratio Median Figure of 46 Publicly-Listed Commercial Services Companies 22.93x
United States of America Market PE Ratio Median Figure of 3,081 Publicly-Listed Companies 17.87x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Knoll.

NYSE:KNL PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:KNL Share Price ÷ EPS (both in USD)

= 22.9 ÷ 1.56

14.69x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Knoll is good value based on earnings compared to the US Commercial Services industry average.
  • Knoll is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Knoll's expected growth come at a high price?
Raw Data
NYSE:KNL PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 14.69x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
10%per year
United States of America Commercial Services Industry PEG Ratio Median Figure of 34 Publicly-Listed Commercial Services Companies 1.64x
United States of America Market PEG Ratio Median Figure of 2,119 Publicly-Listed Companies 1.57x

*Line of best fit is calculated by linear regression .

NYSE:KNL PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 14.69x ÷ 10%

1.47x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Knoll is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Knoll's assets?
Raw Data
NYSE:KNL PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $8.04
NYSE:KNL Share Price * NYSE (2019-07-19) in USD $22.9
United States of America Commercial Services Industry PB Ratio Median Figure of 86 Publicly-Listed Commercial Services Companies 1.83x
United States of America Market PB Ratio Median Figure of 5,247 Publicly-Listed Companies 1.79x
NYSE:KNL PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:KNL Share Price ÷ Book Value per Share (both in USD)

= 22.9 ÷ 8.04

2.85x

* Primary Listing of Knoll.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Knoll is overvalued based on assets compared to the US Commercial Services industry average.
X
Value checks
We assess Knoll's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Commercial Services industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Commercial Services industry average (and greater than 0)? (1 check)
  5. Knoll has a total score of 4/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

KNL Future Performance

 How is Knoll expected to perform in the next 1 to 3 years based on estimates from 3 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
10%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Knoll expected to grow at an attractive rate?
  • Knoll's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Knoll's earnings growth is positive but not above the United States of America market average.
  • Knoll's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:KNL Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:KNL Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 10%
NYSE:KNL Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 3.3%
United States of America Commercial Services Industry Earnings Growth Rate Market Cap Weighted Average 15.4%
United States of America Commercial Services Industry Revenue Growth Rate Market Cap Weighted Average 5.3%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.4%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:KNL Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:KNL Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 1,578 170 131 1
2022-12-31 1,532 161 122 1
2021-12-31 1,488 153 113 1
2020-12-31 1,449 148 105 3
2019-12-31 1,393 132 93 3
NYSE:KNL Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 1,338 122 76
2018-12-31 1,302 108 73
2018-09-30 1,264 108 81
2018-06-30 1,227 105 80
2018-03-31 1,173 106 80
2017-12-31 1,133 104 80
2017-09-30 1,110 68 69
2017-06-30 1,110 90 71
2017-03-31 1,136 87 80
2016-12-31 1,164 104 82
2016-09-30 1,177 146 74
2016-06-30 1,149 128 70

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Knoll's earnings are expected to grow by 10% yearly, however this is not considered high growth (20% yearly).
  • Knoll's revenue is expected to grow by 3.3% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:KNL Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from Knoll Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:KNL Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 2.67 2.67 2.67 1.00
2022-12-31 2.48 2.48 2.48 1.00
2021-12-31 2.29 2.29 2.29 1.00
2020-12-31 2.14 2.15 2.12 2.00
2019-12-31 1.90 1.91 1.88 2.00
NYSE:KNL Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 1.56
2018-12-31 1.51
2018-09-30 1.68
2018-06-30 1.65
2018-03-31 1.65
2017-12-31 1.66
2017-09-30 1.42
2017-06-30 1.48
2017-03-31 1.66
2016-12-31 1.71
2016-09-30 1.55
2016-06-30 1.47

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Knoll will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Knoll's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Knoll has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

KNL Past Performance

  How has Knoll performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Knoll's growth in the last year to its industry (Commercial Services).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Knoll's year on year earnings growth rate has been positive over the past 5 years.
  • Knoll's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Knoll's 1-year earnings growth is negative, it can't be compared to the US Commercial Services industry average.
Earnings and Revenue History
Knoll's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Knoll Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:KNL Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 1,338.47 75.95 342.96 20.10
2018-12-31 1,302.27 73.25 331.76 20.10
2018-09-30 1,263.81 81.44 323.31 19.20
2018-06-30 1,227.33 80.25 313.52 19.20
2018-03-31 1,172.67 80.06 295.45 19.20
2017-12-31 1,132.89 80.16 286.29 19.20
2017-09-30 1,109.64 68.91 278.56 21.70
2017-06-30 1,110.48 71.39 279.68 21.70
2017-03-31 1,136.48 80.09 284.69 21.70
2016-12-31 1,164.29 82.08 287.97 21.70
2016-09-30 1,177.16 74.09 294.87 20.70
2016-06-30 1,148.65 70.32 289.34 20.70
2016-03-31 1,122.57 65.92 281.68 20.70
2015-12-31 1,104.44 65.96 278.78 20.70
2015-09-30 1,085.16 64.80 273.70 19.20
2015-06-30 1,089.87 62.60 273.28 19.20
2015-03-31 1,087.19 56.21 275.79 19.20
2014-12-31 1,050.29 46.60 266.89 19.20
2014-09-30 994.30 34.98 252.22 17.80
2014-06-30 942.90 27.90 235.86 17.80
2014-03-31 891.27 24.94 217.90 17.80
2013-12-31 862.25 23.18 207.12 17.80
2013-09-30 881.82 40.00 205.34 15.30
2013-06-30 884.72 43.65 200.75 15.30
2013-03-31 891.42 48.82 196.88 15.30
2012-12-31 898.50 51.52 191.12 15.30
2012-09-30 860.62 49.95 200.18

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Knoll has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Knoll used its assets more efficiently than the US Commercial Services industry average last year based on Return on Assets.
  • Knoll's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Knoll's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Commercial Services industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Knoll has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

KNL Health

 How is Knoll's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Knoll's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Knoll is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Knoll's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Knoll's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.7x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Knoll Company Filings, last reported 3 months ago.

NYSE:KNL Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 392.80 465.00 2.40
2018-12-31 386.51 462.77 1.56
2018-09-30 385.06 480.32 7.32
2018-06-30 369.06 491.41 1.36
2018-03-31 366.39 522.69 16.15
2017-12-31 358.73 191.05 2.20
2017-09-30 340.11 218.88 5.83
2017-06-30 320.33 233.72 5.92
2017-03-31 311.18 242.55 3.04
2016-12-31 309.47 218.38 9.85
2016-09-30 302.72 193.22 11.19
2016-06-30 287.93 208.05 3.55
2016-03-31 270.25 219.88 5.35
2015-12-31 255.47 219.72 4.19
2015-09-30 242.97 257.50 9.76
2015-06-30 228.79 274.00 10.34
2015-03-31 212.85 300.00 14.68
2014-12-31 213.22 258.00 19.02
2014-09-30 239.71 261.50 15.70
2014-06-30 235.15 267.84 8.47
2014-03-31 224.20 268.00 9.13
2013-12-31 223.83 173.00 12.03
2013-09-30 200.66 183.00 13.51
2013-06-30 190.66 188.00 11.06
2013-03-31 189.66 193.00 12.70
2012-12-31 188.10 193.00 29.96
2012-09-30 189.07 203.00 10.69
  • Knoll's level of debt (118.4%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (119.5% vs 118.4% today).
  • Debt is well covered by operating cash flow (26.2%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 6.1x coverage).
X
Financial health checks
We assess Knoll's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Knoll has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

KNL Dividends

 What is Knoll's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.97%
Current annual income from Knoll dividends. Estimated to be 3.12% next year.
If you bought $2,000 of Knoll shares you are expected to receive $59 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Knoll's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.44%).
  • Knoll's dividend is below the markets top 25% of dividend payers in United States of America (3.78%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:KNL Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
United States of America Commercial Services Industry Average Dividend Yield Market Cap Weighted Average of 41 Stocks 1.6%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2017 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.8%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:KNL Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 0.84 1.00
2022-12-31 0.84 1.00
2021-12-31 0.76 1.00
2020-12-31 0.68 2.00
2019-12-31 0.60 2.00
NYSE:KNL Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-05-07 0.680 3.144
2019-02-05 0.600 2.958
2018-12-04 0.600 3.306
2018-08-08 0.600 2.790
2018-05-08 0.600 2.852
2018-02-06 0.600 2.852
2017-12-04 0.600 2.690
2017-08-09 0.600 3.081
2017-05-09 0.600 2.920
2017-02-07 0.600 2.557
2016-12-06 0.600 2.207
2016-08-03 0.600 2.510
2016-05-04 0.600 2.469
2016-04-21 0.600 2.558
2015-12-03 0.600 3.088
2015-08-04 0.480 2.078
2015-05-11 0.480 1.986
2015-02-03 0.480 2.189
2014-12-19 0.480 2.356
2014-08-07 0.480 2.584
2014-05-08 0.480 2.761
2014-02-04 0.480 2.864
2013-12-05 0.480 2.822
2013-08-07 0.480 2.888
2013-05-07 0.480 3.122
2013-02-06 0.480 2.854
2012-12-06 0.480 3.076
2012-08-07 0.480 3.336
2012-07-19 0.400 2.935
2012-05-10 0.400 3.042
2012-04-23 0.400 2.748
2011-12-01 0.400 2.591
2011-08-10 0.400 2.729
2011-05-05 0.400 2.148
2011-02-04 0.240 1.201
2010-12-01 0.240 1.446
2010-08-11 0.080 0.537
2010-05-05 0.080 0.579
2010-02-04 0.080 0.654
2009-12-01 0.080 0.754
2009-08-11 0.080 0.805
2009-05-04 0.080 1.028
2009-02-05 0.480 7.221
2008-12-02 0.480 5.704
2008-08-14 0.480 3.651

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Knoll's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.6x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.1x coverage).
X
Income/ dividend checks
We assess Knoll's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Knoll afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Knoll has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

KNL Management

 What is the CEO of Knoll's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Andrew Cogan
COMPENSATION $4,496,563
AGE 56
TENURE AS CEO 18.3 years
CEO Bio

Mr. Andrew B. Cogan has been the Chief Executive Officer of Knoll, Inc. since April 2001 and as its Acting President since April 10, 2015 until April 2019. Mr. Cogan has been the Chairman of Knoll, Inc. since May 8, 2018. He served as the Chief Operating Officer of Knoll Inc. since December 1999 and its Executive Vice President of Marketing and Product Development since August 1998 and as Senior Vice President since May 1994. He joined Knoll Inc. in 1989 and held several positions in the Design and Marketing Group. He has been a Director of Knoll, Inc. since February 1996. He has been an Independent Director at Interface Inc. since January 2013. He serves as an Officer and Director of Chinati Foundation in Marfa, Texas. He has been Independent Director of American Woodmark Corp. since March 3, 2009. He has Executive level experience at an international manufacturing company in the commercial interiors industry, and an extensive background in design and marketing. Mr. Cogan holds an Undergraduate Degree from Harvard College.

CEO Compensation
  • Andrew's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Andrew's remuneration is higher than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Knoll management team in years:

2.9
Average Tenure
54
Average Age
  • The tenure for the Knoll management team is about average.
Management Team

Andrew Cogan

TITLE
Chairman & CEO
COMPENSATION
$4M
AGE
56
TENURE
18.3 yrs

Charles Rayfield

TITLE
Senior VP & CFO
COMPENSATION
$902K
AGE
39
TENURE
2.1 yrs

Michael Pollner

TITLE
Senior VP
COMPENSATION
$824K
AGE
46
TENURE
1.5 yrs

Benjamin Pardo

TITLE
Executive VP & Director of Design
COMPENSATION
$916K
AGE
57
TENURE
13.8 yrs

David Schutte

TITLE
Executive Vice President of Lifestyle
COMPENSATION
$1M
AGE
54
TENURE
12.5 yrs

Scott Cameron

TITLE
Senior Vice President of Operations
AGE
56
TENURE
2 yrs

Usman Waheed

TITLE
Chief Information & Technology Officer

David Bright

TITLE
Senior Vice President of Communications

Roxanne Klein

TITLE
Senior Vice President of Human Resources
AGE
42
TENURE
3.7 yrs

Chris Baldwin

TITLE
COO & President of Knoll Office
TENURE
0.8 yrs
Board of Directors Tenure

Average tenure and age of the Knoll board of directors in years:

5.3
Average Tenure
62
Average Age
  • The tenure for the Knoll board of directors is about average.
Board of Directors

John Maypole

TITLE
Independent Director
COMPENSATION
$155K
AGE
79
TENURE
14.6 yrs

Andrew Cogan

TITLE
Chairman & CEO
COMPENSATION
$4M
AGE
56
TENURE
1.2 yrs

Stephanie Stahl

TITLE
Independent Director
COMPENSATION
$140K
AGE
52
TENURE
5.9 yrs

Chris Kennedy

TITLE
Independent Director
COMPENSATION
$140K
AGE
55
TENURE
4.7 yrs

Jeffrey Harris

TITLE
Lead Independent Director
COMPENSATION
$155K
AGE
63

Steve Fisher

TITLE
Independent Director
COMPENSATION
$140K
AGE
66
TENURE
13.6 yrs

Sarah Nash

TITLE
Independent Director
COMPENSATION
$140K
AGE
65
TENURE
12.8 yrs

Dan Dienst

TITLE
Independent Director
COMPENSATION
$140K
AGE
54
TENURE
1.9 yrs

Ron Kass

TITLE
Director
COMPENSATION
$76K
AGE
62
TENURE
1 yrs
Who owns this company?
Recent Insider Trading
  • Knoll individual insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
23. May 19 Sell Andrew Cogan Individual 21. May 19 21. May 19 -2,774 $21.06 $-58,420
20. May 19 Sell Andrew Cogan Individual 16. May 19 16. May 19 -10,226 $21.15 $-216,229
07. May 19 Sell David Schutte Individual 06. May 19 06. May 19 -3,500 $21.61 $-75,625
05. Nov 18 Buy John Maypole Individual 02. Nov 18 02. Nov 18 1,500 $20.02 $30,017
05. Nov 18 Sell Benjamin Pardo Individual 01. Nov 18 01. Nov 18 -1,000 $20.00 $-20,000
04. Sep 18 Sell Kathleen Bradley Individual 31. Aug 18 04. Sep 18 -20,000 $23.53 $-468,640
27. Aug 18 Sell David Schutte Individual 23. Aug 18 24. Aug 18 -5,000 $23.14 $-115,548
22. Aug 18 Sell Roxanne Klein Individual 20. Aug 18 20. Aug 18 -1,835 $22.90 $-42,021
10. Aug 18 Sell Andrew Cogan Individual 08. Aug 18 09. Aug 18 -18,000 $23.00 $-414,000
X
Management checks
We assess Knoll's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Knoll has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

KNL News

Simply Wall St News

Does Knoll, Inc. (NYSE:KNL) Create Value For Shareholders?

And finally, we'll look at how its current liabilities are impacting its ROCE. … The formula for calculating the return on capital employed is: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for Knoll: 0.13 = US$135m ÷ (US$1.3b - US$275m) (Based on the trailing twelve months to March 2019.) So, Knoll has an ROCE of 13%. … The ROCE equation subtracts current liabilities from capital employed, so a company with a lot of current liabilities appears to have less capital employed, and a higher ROCE than otherwise.

Simply Wall St -

What Do Analysts Think About Knoll, Inc.'s (NYSE:KNL) Future?

In this article, I've outline a few earnings growth rates to give you a sense of the market sentiment for Knoll in the longer term. … To reduce the year-on-year volatility of analyst earnings forecast, I've inserted a line of best fit through the expected earnings figures to determine the annual growth rate from the slope of the line. … NYSE:KNL Past and Future Earnings, July 9th 2019 From the current net income level of US$73m and the final forecast of US$111m by 2022, the annual rate of growth for KNL’s earnings is 10.0%.

Simply Wall St -

How Knoll, Inc. (NYSE:KNL) Could Add Value To Your Portfolio

In the case of KNL, it is a financially-robust company with a great history superior dividend payments, trading at a great value. … According to my intrinsic value of the stock, which is driven by analyst consensus forecast of KNL's earnings, investors now have the opportunity to buy into the stock to reap capital gains. … NYSE:KNL Intrinsic value, July 1st 2019 Income investors would also be happy to know that KNL is a great dividend company, with a current yield standing at 3.0%.

Simply Wall St -

Are You An Income Investor? Don't Miss Out On Knoll, Inc. (NYSE:KNL)

(NYSE:KNL) be an attractive dividend share to own for the long haul? Investors are often drawn to strong companies with the idea of reinvesting the dividends. Yet sometimes, investors buy a popular dividend stock because of its yield, and then lose money if the company's dividend doesn't live up to expectations. In this case, Knoll likely looks attractive to investors, given its 3.2% dividend yield and a payment history of over ten years. It would not be a surprise to discover that many investors buy it for the dividends. The company also bought back stock during the year, equivalent to approximately 0.5% of the company's market capitalisation at the time. Before you buy any stock for its dividend however, you should always remember Warren Buffett's two rules: 1) Don't lose money, and 2) Remember rule #1. We'll run through some checks below to help with this. Click the interactive chart for our full dividend analysis NYSE:KNL Historical Dividend Yield, June 23rd 2019 Payout ratios Dividends are typically paid from company earnings. If a company pays more in dividends than it earned, then the dividend might become unsustainable - hardly an ideal situation. So we need to form a view on if a company's dividend is sustainable, relative to its net profit after tax. Knoll paid out 38% of its profit as dividends, over the trailing twelve month period. This is a middling range that strikes a nice balance between paying dividends to shareholders, and retaining enough earnings to invest in future growth. Besides, if reinvestment opportunities dry up, the company has room to increase the dividend. Another important check we do is to see if the free cash flow generated is sufficient to pay the dividend. Of the free cash flow it generated last year, Knoll paid out 37% as dividends, suggesting the dividend is affordable. It's positive to see that Knoll's dividend is covered by both profits and cash flow, since this is generally a sign that the dividend is sustainable, and a lower payout ratio usually suggests a greater margin of safety before the dividend gets cut. Is Knoll's Balance Sheet Risky? As Knoll has a meaningful amount of debt, we need to check its balance sheet to see if the company might have debt risks. A rough way to check this is with these two simple ratios: a) net debt divided by EBITDA (earnings before interest, tax, depreciation and amortisation), and b) net interest cover. Net debt to EBITDA is a measure of a company's total debt. Net interest cover measures the ability to meet interest payments on debt. Essentially we check that a) a company does not have too much debt, and b) that it can afford to pay the interest. … Dividend Growth Potential Dividend payments have been consistent over the past few years, but we should always check if earnings per share (EPS) are growing, as this will help maintain the purchasing power of the dividend. … Earnings growth generally bodes well for the future value of company dividend payments.

Simply Wall St -

How Many Knoll, Inc. (NYSE:KNL) Shares Have Insiders Sold, In The Last Year?

See our latest analysis for Knoll The Last 12 Months Of Insider Transactions At Knoll The , Kathleen Bradley, made the biggest insider sale in the last 12 months. … Knoll Insiders Are Selling The Stock Over the last three months, we've seen significant insider selling at Knoll. … Usually, the higher the insider ownership, the more likely it is that insiders will be incentivised to build the company for the long term.

Simply Wall St -

Should You Worry About Knoll, Inc.'s (NYSE:KNL) CEO Pay Cheque?

We looked at a group of companies with market capitalizations from US$400m to US$1.6b, and the median CEO total compensation was US$2.7m. … Thus we can conclude that Andrew Cogan receives more in total compensation than the median of a group of companies in the same market, and of similar size to Knoll, Inc.. … We compared the total CEO remuneration paid by Knoll, Inc., and compared it to remuneration at a group of similar sized companies.

Simply Wall St -

An Intrinsic Calculation For Knoll, Inc. (NYSE:KNL) Suggests It's 50% Undervalued

(NYSE:KNL) as an investment opportunity by estimating the company's future cash flows and discounting them to their present value. … Generally we assume that a dollar today is more valuable than a dollar in the future, and so the sum of these future cash flows is then discounted to today's value: 10-year free cash flow (FCF) forecast 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 Levered FCF ($, Millions) $88.20 $108.15 $117.00 $125.00 $134.00 $141.62 $148.42 $154.62 $160.41 $165.93 Growth Rate Estimate Source Analyst x2 Analyst x2 Analyst x1 Analyst x1 Analyst x1 Est @ 5.69% Est @ 4.8% Est @ 4.18% Est @ 3.74% Est @ 3.44% Present Value ($, Millions) Discounted @ 8.86% $81.03 $91.27 $90.71 $89.03 $87.67 $85.12 $81.95 $78.43 $74.75 $71.03 Present Value of 10-year Cash Flow (PVCF)= $830.97m "Est" = FCF growth rate estimated by Simply Wall St We now need to calculate the Terminal Value, which accounts for all the future cash flows after this ten year period. … The Gordon Growth formula is used to calculate Terminal Value at a future annual growth rate equal to the 10-year government bond rate of 2.7%.

Simply Wall St -

How Does Investing In Knoll, Inc. (NYSE:KNL) Impact The Volatility Of Your Portfolio?

In finance, Beta is a measure of volatility. … Modern finance theory considers volatility to be a measure of risk, and there are two main types of price volatility. … Beta can be a useful tool to understand how much a stock is influenced by market risk (volatility).

Simply Wall St -

Boasting A 19% Return On Equity, Is Knoll, Inc. (NYSE:KNL) A Top Quality Stock?

This article is for those who would like to learn about Return On Equity (ROE). … That means that for every $1 worth of shareholders' equity, it generated $0.19 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

What Can We Make Of Knoll, Inc.’s (NYSE:KNL) High Return On Capital?

To be precise, we'll consider its Return On Capital Employed (ROCE), as that will inform our view of the quality of the business. … Return On Capital Employed (ROCE): What is it? … Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)

Simply Wall St -

KNL Company Info

Description

Knoll, Inc., together with its subsidiaries, designs, manufactures, markets, and sells commercial and residential furniture, accessories, and coverings for the workplace and residential markets in the United States, Canada, Europe, and internationally. The company operates through Office and Lifestyle segments. It offers systems furniture, including integrated panels or table desks, work surfaces and storage units, power and data systems, and lighting products; office seating products comprising various work chairs; and files and storage products, such as lateral files, mobile pedestals and other storage units, bookcases, and overhead cabinets. The company also provides a range of adjustable tables, as well as meeting, conference, training, dining, stand-alone, and table desks; technology support accessories, desktop organizational tools, and lighting and storage products; lounge furniture; side, café, and dining chairs; training, conference, dining, and occasional tables; and lighting, rugs, textiles, fabrics, felt, leather, upholstery, drapery, and related architectural products. It serves companies, governmental agencies, and other medium to large sized organizations in various industries, including financial, legal, accounting, education, healthcare, and hospitality through its direct sales force and showrooms, distribution partners, and independent dealers and retailers, as well as online. Knoll, Inc. was founded in 1938 and is headquartered in East Greenville, Pennsylvania.

Details
Name: Knoll, Inc.
KNL
Exchange: NYSE
Founded: 1938
$1,118,538,019
48,844,455
Website: http://www.knoll.com
Address: Knoll, Inc.
1235 Water Street,
East Greenville,
Pennsylvania, 18041,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE KNL Common Stock New York Stock Exchange US USD 14. Dec 2004
DB KK6 Common Stock Deutsche Boerse AG DE EUR 14. Dec 2004
Number of employees
Current staff
Staff numbers
3,541
Knoll employees.
Industry
Office Services and Supplies
Commercial Services
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/22 02:30
End of day share price update: 2019/07/19 00:00
Last estimates confirmation: 2019/06/12
Last earnings filing: 2019/05/10
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.