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    The Market Lifts MillerKnoll, Inc. (NASDAQ:MLKN) Shares 30% But It Can Do More

    Simply Wall St·12/20/2025 12:03:03
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    MillerKnoll, Inc. (NASDAQ:MLKN) shareholders are no doubt pleased to see that the share price has bounced 30% in the last month, although it is still struggling to make up recently lost ground. Not all shareholders will be feeling jubilant, since the share price is still down a very disappointing 19% in the last twelve months.

    Even after such a large jump in price, MillerKnoll may still be sending buy signals at present with its price-to-sales (or "P/S") ratio of 0.3x, considering almost half of all companies in the Commercial Services industry in the United States have P/S ratios greater than 1.2x and even P/S higher than 4x aren't out of the ordinary. Although, it's not wise to just take the P/S at face value as there may be an explanation why it's limited.

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    View our latest analysis for MillerKnoll

    ps-multiple-vs-industry
    NasdaqGS:MLKN Price to Sales Ratio vs Industry December 20th 2025

    How MillerKnoll Has Been Performing

    Recent times haven't been great for MillerKnoll as its revenue has been rising slower than most other companies. It seems that many are expecting the uninspiring revenue performance to persist, which has repressed the growth of the P/S ratio. If this is the case, then existing shareholders will probably struggle to get excited about the future direction of the share price.

    If you'd like to see what analysts are forecasting going forward, you should check out our free report on MillerKnoll.

    Do Revenue Forecasts Match The Low P/S Ratio?

    MillerKnoll's P/S ratio would be typical for a company that's only expected to deliver limited growth, and importantly, perform worse than the industry.

    Retrospectively, the last year delivered a decent 4.3% gain to the company's revenues. However, this wasn't enough as the latest three year period has seen an unpleasant 12% overall drop in revenue. Therefore, it's fair to say the revenue growth recently has been undesirable for the company.

    Turning to the outlook, the next year should generate growth of 4.5% as estimated by the three analysts watching the company. With the industry predicted to deliver 5.5% growth , the company is positioned for a comparable revenue result.

    With this in consideration, we find it intriguing that MillerKnoll's P/S is lagging behind its industry peers. It may be that most investors are not convinced the company can achieve future growth expectations.

    What Does MillerKnoll's P/S Mean For Investors?

    The latest share price surge wasn't enough to lift MillerKnoll's P/S close to the industry median. While the price-to-sales ratio shouldn't be the defining factor in whether you buy a stock or not, it's quite a capable barometer of revenue expectations.

    We've seen that MillerKnoll currently trades on a lower than expected P/S since its forecast growth is in line with the wider industry. When we see middle-of-the-road revenue growth like this, we assume it must be the potential risks that are what is placing pressure on the P/S ratio. It appears some are indeed anticipating revenue instability, because these conditions should normally provide more support to the share price.

    Before you take the next step, you should know about the 2 warning signs for MillerKnoll (1 shouldn't be ignored!) that we have uncovered.

    If these risks are making you reconsider your opinion on MillerKnoll, explore our interactive list of high quality stocks to get an idea of what else is out there.