MLKN
MillerKnoll, Inc.
MLKN has the edge over NIO overall, supported by stronger valuation and lower modeled downside.
NIO
NIO Inc.
NIO offers stronger fundamentals, but that advantage does not outweigh its weaker overall profile.
MLKN Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Healthy | |
| Under pressure |
MLKN's profitability and cash flow are currently healthy, and its revenue is stable, but its balance sheet is under pressure.
NIO Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Stable | |
| Stable | |
| Unavailable |
NIO's revenue is currently strong, and its profitability and cash flow are stable. There isn't enough data to rate its balance sheet.
MLKN PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 11x | $21.33 | — |
| Cheap | 15x | $21.02 | -1.5% |
| Current | 15x | $21.33 | — |
| Fair | 26x | $37.13 | +74% |
| Expensive | 52x | $73.38 | +244% |
Historical ranges are pointers, not guarantees.
MLKN's PE is in its cheap range at 15x. If earnings grow as analysts expect, today's price would be 11x next year's earnings.
NIO PE Valuation
NIO has no meaningful PE right now: it lost money over the past year.
MLKN Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Growth | |
| Stable | |
| Stable | |
| Limited | |
| Low |
Analysts expect MLKN's earnings to grow, with its revenue and profitability holding steady. However, they disagree widely on these estimates.
NIO Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Growth | |
| Strongly improving | |
| Limited | |
| Moderate |
NIO has the edge over MLKN on the outlook, with more favorable revenue and profitability expectations.
MLKN Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.93 | +37% |
| Q3 2026 | $1.41 | +$1.64 |
| Q2 2026 | $1.32 | +$1.86 |
| Q1 2026 | $0.16 | -62% |
| Q4 2025 | -$0.37 | -141% |
| Q3 2025 | -$0.23 | -126% |
| Q2 2025 | -$0.54 | -149% |
| Q1 2025 | $0.42 | -56% |
| Q4 2024 | $0.91 | +36% |
MLKN has the edge over NIO on earnings quality, reporting a profit while its opponent remains loss making.
NIO Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q2 2026 | -$0.29 | +$1.45 |
| Q1 2026 | -$0.60 | +$1.16 |
| Q4 2025 | -$1.06 | +$0.60 |
| Q3 2025 | -$1.59 | +$0.02 |
| Q2 2025 | -$1.74 | -$0.10 |
| Q1 2025 | -$1.76 | +$0.06 |
| Q4 2024 | -$1.66 | +$0.21 |
| Q3 2024 | -$1.61 | +$0.32 |
NIO is still losing money, but far less than before: $0.29 per share over the past year, against $1.93 at its worst in late 2023.
MLKN Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $923.4M | -3.4% |
| Q2 2026 | $1B | +4.4% |
| Q1 2026 | $926.6M | +5.8% |
| Q4 2025 | $955.2M | -1.6% |
| Q3 2025 | $955.7M | +11% |
| Q2 2025 | $961.8M | +8.2% |
| Q1 2025 | $876.2M | +0.4% |
| Q4 2024 | $970.4M | +2.2% |
MLKN's revenue fell from its 2022 peak and has held roughly level since: $923M last quarter, down 3.4% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 5.6% | 0 points |
| Q2 2026 | 5.1% | -0.6 points |
| Q1 2026 | 4.8% | +14 points |
| Q4 2025 | 5.1% | -1.4 points |
| Q3 2025 | 5.6% | +3.8 points |
| Q2 2025 | 5.7% | +3 points |
| Q1 2025 | -9.4% | -14 points |
| Q4 2024 | 6.4% | +0.1 points |
MLKN has the edge over NIO on profitability, with a higher operating margin.
NIO Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $4.8B | +69% |
| Q1 2026 | $3.8B | +112% |
| Q4 2025 | $5.2B | +76% |
| Q3 2025 | $3.3B | +17% |
| Q2 2025 | $2.9B | +9% |
| Q1 2025 | $1.8B | +21% |
| Q4 2024 | $3B | +15% |
| Q3 2024 | $2.8B | -2.1% |
NIO has the edge over MLKN on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | -2.1% | +24 points |
| Q1 2026 | -1.2% | +52 points |
| Q4 2025 | 2.3% | +33 points |
| Q3 2025 | -16% | +12 points |
| Q2 2025 | -26% | +4 points |
| Q1 2025 | -53% | +1.1 points |
| Q4 2024 | -31% | +8.1 points |
| Q3 2024 | -28% | -2.6 points |
NIO's operating margin was −2.1% last quarter, up 24 points from the same quarter a year ago.
MLKN Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $16.6M | +$37.9M |
| Q2 2026 | $25.9M | -18% |
| Q1 2026 | $39M | +0.5% |
| Q4 2025 | $34M | +3% |
| Q3 2025 | -$21.3M | -$19.8M |
| Q2 2025 | $31.4M | -44% |
| Q1 2025 | $38.8M | -12% |
| Q4 2024 | $33M | -47% |
MLKN still generates free cash flow, though less than at its 2023 peak: $116M over the past year.
NIO Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $0 | +$2.1B |
| Q1 2026 | $0 | $0 |
| Q4 2025 | $0 | +$391.3M |
| Q3 2025 | $0 | $0 |
| Q2 2025 | -$2.1B | +$73.9M |
| Q1 2025 | $0 | $0 |
| Q4 2024 | -$391.3M | -386% |
| Q2 2024 | -$2.2B | +$337.9M |
NIO has the edge over MLKN on cash flow, with more consistent year-over-year improvement.
MLKN Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +1% | +719K shares |
| 1 year | +1.2% | +846K shares |
| 3 years | -7.5% | -5.7M shares |
| 5 years | +5.6% | +3.7M shares |
| Available history | +18% | +10.6M shares |
MLKN has the edge over NIO on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q2 2025 | $100,000 |
| Q1 2025 | $17.9M |
| Q4 2024 | $23.2M |
| Q3 2024 | $43.7M |
| Q2 2024 | $37.2M |
| Q1 2024 | $41M |
| Q4 2023 | $28M |
| Q3 2023 | $32M |
NIO Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.6% | +15.6M shares |
| 1 year | +12% | +267M shares |
| 3 years | +51% | +844M shares |
| 5 years | +60% | +933M shares |
| Available history | +143% | +1.5B shares |
NIO has 2.5B diluted shares, up 12% from a year ago.
| Quarter | Spent |
|---|---|
| Q2 2026 | — |
| Q1 2026 | — |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | — |
| Q3 2024 | — |
NIO hasn't bought back shares in the past year.
MLKN Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 3.3x | Elevated |
| Q2 2026 | 3.2x | Elevated |
| Q1 2026 | 3.2x | Elevated |
| Q4 2025 | 5.4x | High |
| Q3 2025 | 5.1x | High |
| Q2 2025 | 5.9x | High |
| Q1 2025 | 7.0x | High |
| Q4 2024 | 4.0x | Elevated |
MLKN's net debt is about 3.3 years of its operating earnings (EBITDA), down from 5.1 years a year ago.
NIO Net Leverage
NIO's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
MLKN Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 54.3 | Neutral |
| Stochastic | 40.8 | Neutral |
MLKN's weekly RSI is 54 (neutral) and its Stochastic is 41 (neutral).
NIO Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 30.7 | Neutral |
| Stochastic | 6.9 | Oversold |
NIO's weekly RSI is 31 (neutral) and its Stochastic is 7 (oversold).
MLKN PE vs Consumer Cyclical Sector
| Metric | MLKN | Sector median | Relative |
|---|---|---|---|
| PE | 15x | 18x | 16% below |
| PE % | 18 | 47 | 29 pts below |
MLKN is trading at 15x earnings, a 16% discount to the Consumer Cyclical sector's median of 18x.
NIO PE vs Consumer Cyclical Sector
NIO has no meaningful PE right now: it lost money over the past year.
MLKN Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $21.0 | 1.8% above |
| 20 week MA | $21.8 | 1.9% below |
| 50 week MA | $19.4 | 10% above |
| 100 week MA | $19.2 | 11% above |
| 200 week MA | $21.4 | 0.5% below |
MLKN has the edge over NIO on trend strength, trading above more of its moving averages.
NIO Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $3.36 | 9.2% below |
| 20 week MA | $4.01 | 24% below |
| 50 week MA | $4.81 | 37% below |
| 100 week MA | $4.85 | 37% below |
| 200 week MA | $6.03 | 49% below |
NIO is in a downtrend: it's below all five of its weekly moving averages, and 49% below its 200-week average.
MLKN Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $41.6 | $34.6 | -17% |
| 2021 | $34.6 | $37.6 | +8.6% |
| 2022 | $37.6 | $21.1 | -44% |
| 2023 | $21.1 | $26.7 | +26% |
| 2024 | $26.7 | $22.4 | -16% |
| 2025 | $22.4 | $18.1 | -19% |
| 2026 YTD | $18.1 | $21.3 | +18% |
MLKN has the edge over NIO on returns for 2026, with the stronger performance.
NIO Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $2.42 | $45.8 | +1791% |
| 2021 | $45.8 | $30.5 | -33% |
| 2022 | $30.5 | $11.0 | -64% |
| 2023 | $11.0 | $9.07 | -17% |
| 2024 | $9.07 | $4.48 | -51% |
| 2025 | $4.48 | $5.10 | +14% |
| 2026 YTD | $5.10 | $3.05 | -40% |
NIO's yearly returns have swung widely, from +1791% in 2020 to −64% in 2022. It's down 40% so far in 2026.