Short answer
MILLERKNOLL, INC. (MLKN) filed its fiscal 2026 10-K annual report with the SEC on Jul 20, 2026. It reported revenue of $3.8B (+4.7% year over year) and net income of $92M.
- Top risk flagged: Tariff refund uncertainty under International Emergency Economic Powers Act (IEEPA), legal proceedings ongoing, final refund amount and timing unclear
FY2026 key financial metrics · XBRL
- Revenue
- $3.8B
- +4.7% YoY
- Net income
- $92M
- +348.0% YoY
- Operating margin
- 5.2%
- +3.8 pp YoY
- Gross margin
- 38.8%
- −0.0 pp YoY
- EPS (diluted)
- $1.32
- +344.4% YoY
- ROE
- 6.8%
- +9.7 pp YoY
- Operating cash flow
- $200M
- −4.5% YoY
Source: XBRL data from the MILLERKNOLL, INC. (MLKN) FY2026 10-K on SEC EDGAR. USD.
MILLERKNOLL, INC. FY2026 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business: Research, design, manufacture, and distribution of interior furnishings globally for residential, office, healthcare, educational markets
- New emphasis on sustainability and increased costs from environmental regulation compliance in 2026 year
- Strategic focus on integrating customer-centered technologies and proprietary tools to enhance customer operations and competitiveness
- Employee count approximately 10,544 with about 2% covered by collective bargaining agreements across UK, Italy, Brazil
- Backlog of unfilled orders declined to $678.8 million in fiscal 2026 from $761.3 million in 2025, expected to fill next fiscal year
Management Discussion & Analysis
- Revenue $3.84B, up 4.7% YoY; organic growth 3.6% driven by pricing, volume, and favorable FX
- Operating margin 5.2% vs 1.4%; operating earnings $198.3M vs $50.5M; gross margin stable at 38.8%
- Best: North America Contract $2.06B sales (+4.9%), margin 9.0% vs 6.2%; worst: International Contract $674M sales (+2.1%), margin 8.1% vs 9.6%
- Operating cash flow $199.9M; capex $122.3M; share buybacks $16.3M; dividends $0.75/share unchanged
- Management highlights growth focus on retail expansion and showroom enhancements; key risks include global economic instability, tariffs, supply chain, and geopolitical conflicts
Risk Factors
- Tariff refund uncertainty under International Emergency Economic Powers Act (IEEPA), legal proceedings ongoing, final refund amount and timing unclear
- Geopolitical instability (Middle East, Russia-Ukraine) risks indirect supply chain disruption, increased costs, and foreign currency volatility
- Supply chain vulnerable to tariff-driven cost increases on steel, plastic, aluminum, particleboard; gross margin impacted in H1 fiscal 2026
- Competitive threat from AI and agentic commerce technologies altering customer expectations and sales channels, risks to margins and relationships
- Indebtedness $1.26 billion with restrictive covenants could limit financial flexibility and trigger accelerated repayments if breached
Generated from the filing text; verify against the original. How to read a 10-K
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