Fact based stock research
Herman Miller (NasdaqGS:MLHR)

US6005441000

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For every stock, we judge its performance against its peers and rank it on a scale of 1 to 100. The higher the rank, the better the stock performs than its peers. And, we do this for six investment strategies:
Value - shows how good of a value the stock is. Green is "inexpensive"; red is "expensive".

Growth - shows a company's growth potential. Green is "high growth" expected; red is "tough times ahead".

Safety - relates to the amount of debt a company has. Green is low debt level; red is high debt level.

Combined Financial - this isn't an average of the first three ranks but rather a consolidated view across several financial indicators. Green = good; red = tread carefully.

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Herman Miller stock research in summary

hermanmiller.com


ANALYSIS: With an Obermatt Combined Rank of 82 (better than 82% compared with investment alternatives), Herman Miller (Office Services & Supplies, USA) shares have much better financial characteristics than comparable stocks. Shares of Herman Miller are a good value (attractively priced) with a consolidated Value Rank of 86 (better than 86% of alternatives), show above-average growth (Growth Rank of 77) but are riskily financed (Safety Rank of 44), which means above-average debt burdens. ...read more


RECOMMENDATION: A Combined Rank of 82, is a strong buy recommendation based on Herman Miller's financial characteristics. As the company Herman Miller's key financial metrics exhibit excellent performance in two areas, such as good value (Obermatt Value Rank of 86) and above-average growth (Obermatt Growth Rank of 77), it could be argued that the risk-taking in financing (Obermatt Safety Rank of only 44) indicates that the company is optimistic about the future and sees debt as an opportunity to boost returns. More debt means more shareholder returns if everything goes well. However, higher debt burdens are risky when interest rates rise or the business deteriorates in a crisis. If you believe the company's future is market-typical or even better, this could be an argument for a share purchase. Obermatt Premium subscribers can further check the stock’s Sentiment Ranks, which also flow into the Obermatt 360° View for investors. ...read more


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Country USA
Industry Office Services & Supplies
Index Customer Focus US, Dividends USA, Human Rights, NASDAQ, S&P MIDCAP
Size class X-Large

This stock has achievements: Top 10 Stock.

14-Mar-2024. Stock data may be delayed. Log in or sign up to get the most recent research.




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Research History: Herman Miller

RESEARCH HISTORY 2021 2022 2023 2024
VALUE
VALUE
GROWTH
GROWTH
SAFETY
SAFETY
SENTIMENT
SENTIMENT
360° VIEW
360° VIEW

Most recent update of the stock research: 14-Mar-2024. Financial reporting date used for calculating ranks: 2-Sep-2023. Stock research history is based on the Obermatt Method. The higher the rank, the better Herman Miller is in the corresponding investment strategy.
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Combined financial peformance in Detail

ANALYSIS: With an Obermatt Combined Rank of 82 (better than 82% compared with investment alternatives), Herman Miller (Office Services & Supplies, USA) shares have much better financial characteristics than comparable stocks. Shares of Herman Miller are a good value (attractively priced) with a consolidated Value Rank of 86 (better than 86% of alternatives), show above-average growth (Growth Rank of 77) but are riskily financed (Safety Rank of 44), which means above-average debt burdens. ...read more

RECOMMENDATION: A Combined Rank of 82, is a strong buy recommendation based on Herman Miller's financial characteristics. As the company Herman Miller's key financial metrics exhibit excellent performance in two areas, such as good value (Obermatt Value Rank of 86) and above-average growth (Obermatt Growth Rank of 77), it could be argued that the risk-taking in financing (Obermatt Safety Rank of only 44) indicates that the company is optimistic about the future and sees debt as an opportunity to boost returns. More debt means more shareholder returns if everything goes well. However, higher debt burdens are risky when interest rates rise or the business deteriorates in a crisis. If you believe the company's future is market-typical or even better, this could be an argument for a share purchase. Obermatt Premium subscribers can further check the stock’s Sentiment Ranks, which also flow into the Obermatt 360° View for investors. ...read more

RESEARCH HISTORY 2021 2022 2023 2024
VALUE
VALUE
GROWTH
GROWTH
SAFETY
SAFETY
COMBINED
COMBINED

Last update of combined financial performance: 14-Mar-2024. Stock analysis on combined financial performance: The higher the rank of Herman Miller the better the performance.


Value Metrics in Detail

ANALYSIS: With an Obermatt Value Rank of 86 (better than 86% compared with alternatives) for 2024, Herman Miller shares are significantly less expensive than comparable stocks. The Value Rank is based on consolidating four value indicators that are all above average for Herman Miller. Price-to-Sales is 64 which means that the stock price compared with what market professionals expect for future sales is lower than for 64% of comparable companies, indicating a good value for Herman Miller's revenue size. The same is valid for expected Price-to-Profits, more favorable than for 68% of alternatives, and this is also true for the Price-to-Book capital ratio (also referred to as market-to-book ratio) with a Price-to-Capital Rank of 64. Compared with other companies in the same industry, dividend yields of Herman Miller are expected to be higher than for 82% of all competitors (a Dividend Yield rank of 82). ...read more

RECOMMENDATION: The overall picture with a consolidated Value Rank of 86, is a buy recommendation based on Herman Miller's stock price compared with the company's operational size and dividend yields. Since all value metrics are above the industry average, there is no objection to investing in Herman Miller based on its detailed value metrics. We recommend further analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks, including the 360° View, before making an investment decision. ...read more


VALUE METRICS 2021 2022 2023 2024
PRICE VS. REVENUES (P/S)
PRICE VS. REVENUES (P/S)
PRICE VS. PROFITS (P/E)
PRICE VS. PROFITS (P/E)
PRICE VS. CAPITAL (Market-to-Book)
PRICE VS. CAPITAL (Market-to-Book)
DIVIDEND YIELD
DIVIDEND YIELD
CONSOLIDATED RANK: VALUE
CONSOLIDATED RANK: VALUE

Last update of Value Rank: 14-Mar-2024. Stock analysis on value ratios: The higher the rank, the lower the value ratio of Herman Miller; except for dividend yield where the rank is higher, the higher the yield.


Growth Metrics in Detail

ANALYSIS: With an Obermatt Growth Rank of 77 (better than 77% compared with alternatives) for 2024, Herman Miller shows one of the highest growth dynamics in its industry. Investors also speak of high momentum. The Growth Rank is based on consolidating four value indicators, with half of the indicators below and half above average for Herman Miller. Capital Growth has a rank of 95, which means that currently professionals expect the company to grow its invested capital more than 45% of its competitors. Investors welcomed this, visible in the Stock Returns rank of 73 (above 73% of alternative investments). But Sales Growth has only a rank of 43, which means that, currently, professionals expect the company to grow less than 57% of its competitors, and Profit Growth is also low at a rank of 45. ...read more

RECOMMENDATION: The overall picture with a consolidated Growth Rank of 77, is a buy recommendation for growth and momentum investors. This is an ambiguous picture. Revenue growth and capital growth are strong, but the growth in profit, which seems good, can also be an indication that growth momentum may be negative. The fact that stock returns have been above average doesn't help much, as stock returns are less reliable in showing a company’s future growth potential. Prices may perform well for the simple reason that investors were too pessimistic in the past and are now correcting their opinions and moving the stock price to a more reasonable level. As the growth picture is mixed for Herman Miller, investors may want to look at value and sentiment indicators for a well-rounded picture of this stock. While momentum is a popular investment factor, the value aspect might be the more important one, in the longer term. We recommend analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks to arrive at a 360° View of the stock purchase case, especially since the growth performance is mixed here. ...read more

GROWTH METRICS 2021 2022 2023 2024
REVENUE GROWTH
REVENUE GROWTH
PROFIT GROWTH
PROFIT GROWTH
CAPITAL GROWTH
CAPITAL GROWTH
STOCK RETURNS
STOCK RETURNS
CONSOLIDATED RANK: GROWTH
CONSOLIDATED RANK: GROWTH

Last update of Growth Rank: 14-Mar-2024. Stock analysis on growth metrics: The higher the rank, the higher the growth and returns of Herman Miller.


Safety Metrics in Detail

ANALYSIS: With an Obermatt Safety Rank of 44 (better than 44% compared with alternatives), the company Herman Miller has financing practices on the riskier side, which means that their overall debt burden is above the industry average. This doesn't mean that the business of Herman Miller is also risky, it only means that the company is on the riskier side in respect to bankruptcy in case things turn sour, assuming that public reporting is correct. The Safety Rank is based on consolidating three financing indicators, with two out of three indicators above-average for Herman Miller. Refinancing is at 60, meaning the portion of the debt that is about to be refinanced is below average. It has less debt in the refinancing stage than 60% of its competitors. Liquidity is also good at 58, meaning the company generates more profit to service its debt than 58% of its competitors. This indicates that the company is safer when it comes to debt service. However, Leverage is rather large at 41, which means the company has an above-average debt-to-equity ratio. It has more debt than 59% of its competitors. ...read more

RECOMMENDATION: With a consolidated Safety Rank of 44 (worse than 56% compared with alternatives), Herman Miller has a financing structure that is riskier than that of its competitors. This is not bad if things go well. The higher debt level means better returns to shareholders if things go well. Many top-performing companies operate with higher debt levels, and Herman Miller could be in that group. But if you expect the environment to turn rougher, the higher leverage could become a problem. The same is valid if you expect interest rates to rise. That could squeeze shareholder returns, which so far have benefitted from better conditions. In the long-term, investors may have a debt challenge with Herman Miller and should also compare Obermatt’s Value, Growth, and Sentiment Ranks before making a decision. ...read more

SAFETY METRICS 2021 2022 2023 2024
LEVERAGE
LEVERAGE
REFINANCING
REFINANCING
LIQUIDITY
LIQUIDITY
CONSOLIDATED RANK: SAFETY
CONSOLIDATED RANK: SAFETY

Last update of Safety Rank: 14-Mar-2024. Stock analysis on safety metrics: The higher the rank, the lower the leverage of Herman Miller and the more cash is available to service its debt.


Sentiment Metrics in Detail

SENTIMENT 2021 2022 2023 2024
ANALYST OPINIONS
ANALYST OPINIONS
OPINIONS CHANGE
OPINIONS CHANGE
PRO HOLDINGS
PRO HOLDINGS
MARKET PULSE
MARKET PULSE
CONSOLIDATED RANK: SENTIMENT
CONSOLIDATED RANK: SENTIMENT

Last update of Sentiment Rank: 14-Mar-2024. Stock analysis on sentiment metrics: The higher the rank, the more positive the sentiment for Herman Miller.
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Stock analysis by the purely fact based Obermatt Method for Herman Miller from March 14, 2024.

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