Since April 2025, MillerKnoll has been in a holding pattern, floating around $16.25. The stock also fell short of the S&P 500’s 22.9% gain during that period.
Is there a buying opportunity in MillerKnoll, or does it present a risk to your portfolio? See what our analysts have to say in our full research report, it’s free for active Edge members.
Why Do We Think MillerKnoll Will Underperform?
We're sitting this one out for now. Here are three reasons you should be careful with MLKN and a stock we'd rather own.
1. Revenue Tumbling Downwards
We at StockStory place the most emphasis on long-term growth, but within business services, a stretched historical view may miss recent innovations or disruptive industry trends. MillerKnoll’s recent performance marks a sharp pivot from its five-year trend as its revenue has shown annualized declines of 2.1% over the last two years. 
2. Projected Revenue Growth Is Slim
Forecasted revenues by Wall Street analysts signal a company’s potential. Predictions may not always be accurate, but accelerating growth typically boosts valuation multiples and stock prices while slowing growth does the opposite.
Over the next 12 months, sell-side analysts expect MillerKnoll’s revenue to rise by 1.2%. Although this projection implies its newer products and services will spur better top-line performance, it is still below the sector average.
3. EPS Trending Down
We track the long-term change in earnings per share (EPS) because it highlights whether a company’s growth is profitable.
Sadly for MillerKnoll, its EPS declined by 7.2% annually over the last five years while its revenue grew by 9%. This tells us the company became less profitable on a per-share basis as it expanded.
Final Judgment
MillerKnoll doesn’t pass our quality test. With its shares underperforming the market lately, the stock trades at 8.6× forward P/E (or $16.25 per share). While this valuation is optically cheap, the potential downside is huge given its shaky fundamentals. There are superior stocks to buy right now. Let us point you toward the most dominant software business in the world.
Stocks We Like More Than MillerKnoll
Donald Trump’s April 2025 "Liberation Day" tariffs sent markets into a tailspin, but stocks have since rebounded strongly, proving that knee-jerk reactions often create the best buying opportunities.
The smart money is already positioning for the next leg up. Don’t miss out on the recovery - check out our Top 6 Stocks for this week. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025).
Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-micro-cap company Kadant (+351% five-year return). Find your next big winner with StockStory today.
StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here.
