$2.1 B

MLHR Mkt cap, 12-Feb-2019

Herman Miller Revenue Breakdown

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Herman Miller revenue breakdown by business segment: 15.0% from Consumer, 12.8% from Specialty, 18.2% from ELA Furniture Solutions and 53.9% from North American Furniture Solutions

Herman Miller revenue breakdown by geographic segment: 27.0% from International and 73.0% from United States

Herman Miller Income Statement

Annual

USDFY, 2014FY, 2015FY, 2016FY, 2017FY, 2018

Revenue

1.9b2.1b2.3b2.3b2.4b

Revenue growth, %

14%6%1%5%

Cost of goods sold

1.4b1.4b1.5b

Gross profit

874.2m864.2m873.0m

Gross profit Margin, %

39%38%37%

General and administrative expense

585.6m616.7m616.7m

Operating expense total

662.7m695.5m695.5m

EBIT

211.5m190.8m177.5m

EBIT margin, %

9%8%7%

Interest expense

15.4m15.2m13.5m

Investment income

800.0k2.2m4.4m

Pre tax profit

196.6m177.6m168.1m

Income tax expense

59.5m55.1m42.4m

Net Income

(22.1m)98.1m137.5m124.1m128.1m

Quarterly

USDQ1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2016Q2, 2016Q1, 2017Q3, 2017Q3, 2018

Revenue

509.7m565.4m516.4m565.4m580.4m536.5m598.6m577.5m580.3m524.9m

Cost of goods sold

324.1m359.7m325.9m348.6m356.0m328.7m368.6m359.5m363.4m329.4m

Gross profit

185.6m205.7m190.5m216.8m224.4m207.8m230.0m218.0m216.9m195.5m

Gross profit Margin, %

36%36%37%38%39%39%38%38%37%37%

General and administrative expense

147.2m

Operating expense total

143.4m159.0m153.1m161.7m168.9m163.5m173.6m168.4m167.8m160.5m

EBIT

42.2m46.7m37.4m55.1m55.5m44.3m56.4m49.6m49.1m35.0m

EBIT margin, %

8%8%7%10%10%8%9%9%8%7%

Interest expense

4.7m4.6m4.4m3.9m3.9m3.8m3.8m3.9m3.7m3.8m

Income tax expense

12.4m14.2m10.8m17.0m17.2m11.9m17.0m14.5m14.2m9.5m

Net Income

25.2m27.8m21.2m33.8m34.9m28.2m36.5m31.6m33.1m22.5m30.0m

Herman Miller Balance Sheet

Annual

USDFY, 2017FY, 2018

Cash

96.2m203.9m

Accounts Receivable

186.6m219.3m

Inventories

152.4m162.4m

Current Assets

491.9m645.4m

PP&E

314.6m331.4m

Goodwill

304.5m304.1m

Total Assets

1.3b1.5b

Accounts Payable

148.4m171.4m

Current Liabilities

385.7m413.8m

Long-term debt

199.9m275.0m

Total Debt

199.9m275.0m

Total Liabilities

694.0m784.2m

Common Stock

11.9m11.7m

Additional Paid-in Capital

139.3m116.6m

Retained Earnings

519.5m598.3m

Total Equity

587.7m664.8m

Debt to Equity Ratio

0.4 x

Debt to Assets Ratio

0.2 x

Financial Leverage

2.2 x2.2 x

Quarterly

USDQ1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2016Q2, 2016Q1, 2017Q3, 2017Q2, 2018Q3, 2018Q1, 2019Q2, 2019

Cash

66.7m64.7m61.8m52.0m54.7m55.3m65.1m71.9m80.0m78.4m193.0m

Accounts Receivable

190.9m

Inventories

133.8m126.3m128.5m136.9m131.7m135.3m146.2m150.3m166.9m155.7m

Current Assets

465.2m461.3m459.5m471.5m455.1m435.4m450.9m470.3m498.7m466.0m556.0m601.0m

Goodwill

302.5m303.9m303.7m303.0m306.1m305.6m304.9m304.6m304.1m304.4m

Total Assets

1.2b1.2b1.2b1.2b1.2b1.2b1.2b1.3b1.3b1.3b

Accounts Payable

153.3m160.7m141.8m151.6m155.2m143.5m159.0m161.9m166.2m147.9m

Current Liabilities

391.8m392.3m325.5m356.3m370.4m359.6m356.2m382.9m384.0m358.3m

Long-term debt

300.0m277.0m326.0m268.0m256.8m240.2m233.9m219.6m203.9m234.5m200.0m275.0m

Total Debt

300.0m277.0m326.0m268.0m256.8m240.2m233.9m219.6m203.9m234.5m200.0m275.0m

Total Liabilities

779.1m755.6m740.8m713.8m696.8m668.2m664.3m678.9m686.3m672.0m

Additional Paid-in Capital

125.4m130.4m133.5m137.3m143.6m142.8m144.4m143.3m133.9m141.9m

Retained Earnings

294.2m313.6m326.3m361.8m380.2m403.0m461.4m483.2m542.2m495.8m583.0m

Total Equity

391.8m411.3m424.3m451.7m476.0m492.8m549.1m568.6m608.7m581.3m

Debt to Equity Ratio

0.8 x0.7 x0.8 x0.6 x0.5 x0.5 x0.4 x0.4 x0.3 x0.4 x

Debt to Assets Ratio

0.3 x0.2 x0.3 x0.2 x0.2 x0.2 x0.2 x0.2 x0.2 x0.2 x

Financial Leverage

3.1 x2.9 x2.8 x2.6 x2.5 x2.4 x2.3 x2.2 x2.2 x2.2 x

Herman Miller Cash Flow

Annual

USDFY, 2016FY, 2017FY, 2018

Net Income

137.5m124.1m128.7m

Depreciation and Amortization

53.0m58.9m66.9m

Accounts Receivable

(30.5m)17.3m(33.1m)

Inventories

(6.0m)(29.9m)(12.4m)

Accounts Payable

8.7m(11.2m)16.0m

Cash From Operating Activities

210.4m202.1m166.5m

Cash From Investing Activities

(80.8m)(116.3m)(62.7m)

Long-term Borrowings

(868.8m)(816.4m)(115.4m)

Dividends Paid

(34.9m)(39.4m)(42.4m)

Cash From Financing Activities

(106.5m)(74.6m)2.5m

Net Change in Cash

21.2m11.3m107.7m

Interest Paid

13.4m13.4m16.4m

Income Taxes Paid

57.6m35.6m34.2m

Free Cash Flow

125.3m114.8m95.9m

Quarterly

USDQ1, 2015Q2, 2015Q3, 2015Q3, 2016Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019

Net Income

25.2m27.8m21.2m33.1m66.5m

Depreciation and Amortization

43.0m15.5m31.8m19.0m

Cash From Operating Activities

18.9m81.5m

Cash From Investing Activities

(58.0m)(99.0m)(24.2m)(30.6m)

Long-term Borrowings

(85.4m)(115.4m)

Dividends Paid

(26.0m)(19.0m)(10.2m)(20.9m)

Cash From Financing Activities

(13.0m)

Free Cash Flow

(6.0m)41.7m
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Herman Miller Operating Metrics

Herman Miller's Backlog was reported to be $322.6m in FY, 2017.
FY, 2015Q1, 2016Q2, 2016Q3, 2016FY, 2016Q1, 2017Nov, 2016Q2, 2017Q3, 2017FY, 2017

Backlog

$322.20 m$320.10 m$341.10 m$313.30 m$323.50 m$320.50 m$318.90 m$331.60 m$322.60 m

Countries

109 109

Dealers

600 600

Retail Galleries

30 31
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Herman Miller Employee Rating

4.1261 votes
Culture & Values
4.1
Work/Life Balance
4.0
Senior Management
3.5
Salary & Benefits
3.8
Career Opportunities
3.7
Source