Intrinsic value of Herman Miller - MLHR

Previous Close

$37.05

  Intrinsic Value

$45.05

stock screener

  Rating & Target

buy

+22%

Previous close

$37.05

 
Intrinsic value

$45.05

 
Up/down potential

+22%

 
Rating

buy

We calculate the intrinsic value of MLHR stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 2.2

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  7.10
  6.89
  6.70
  6.53
  6.38
  6.24
  6.12
  6.00
  5.90
  5.81
  5.73
  5.66
  5.59
  5.53
  5.48
  5.43
  5.39
  5.35
  5.32
  5.28
  5.26
  5.23
  5.21
  5.19
  5.17
  5.15
  5.14
  5.12
  5.11
  5.10
Revenue, $m
  2,550
  2,726
  2,909
  3,099
  3,296
  3,502
  3,716
  3,939
  4,172
  4,414
  4,667
  4,931
  5,207
  5,495
  5,797
  6,112
  6,441
  6,786
  7,146
  7,524
  7,919
  8,333
  8,767
  9,222
  9,698
  10,198
  10,722
  11,271
  11,847
  12,451
Variable operating expenses, $m
  2,333
  2,491
  2,655
  2,826
  3,003
  3,188
  3,380
  3,581
  3,790
  4,007
  4,192
  4,430
  4,677
  4,936
  5,207
  5,489
  5,785
  6,095
  6,419
  6,758
  7,113
  7,485
  7,875
  8,283
  8,711
  9,160
  9,630
  10,124
  10,641
  11,184
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  2,333
  2,491
  2,655
  2,826
  3,003
  3,188
  3,380
  3,581
  3,790
  4,007
  4,192
  4,430
  4,677
  4,936
  5,207
  5,489
  5,785
  6,095
  6,419
  6,758
  7,113
  7,485
  7,875
  8,283
  8,711
  9,160
  9,630
  10,124
  10,641
  11,184
Operating income, $m
  217
  235
  254
  273
  293
  314
  336
  359
  382
  407
  475
  502
  530
  559
  590
  622
  656
  691
  727
  766
  806
  848
  892
  939
  987
  1,038
  1,091
  1,147
  1,206
  1,267
EBITDA, $m
  311
  332
  354
  378
  402
  427
  453
  480
  508
  538
  569
  601
  635
  670
  706
  745
  785
  827
  871
  917
  965
  1,016
  1,068
  1,124
  1,182
  1,243
  1,307
  1,374
  1,444
  1,517
Interest expense (income), $m
  13
  16
  19
  22
  26
  30
  34
  38
  42
  46
  51
  55
  60
  65
  71
  76
  82
  89
  95
  102
  109
  116
  124
  132
  140
  149
  159
  168
  179
  189
  200
Earnings before tax, $m
  202
  216
  231
  247
  263
  281
  298
  317
  336
  356
  420
  442
  465
  488
  514
  540
  567
  596
  626
  657
  690
  724
  760
  798
  838
  879
  923
  969
  1,017
  1,067
Tax expense, $m
  54
  58
  62
  67
  71
  76
  81
  86
  91
  96
  113
  119
  125
  132
  139
  146
  153
  161
  169
  177
  186
  196
  205
  216
  226
  237
  249
  262
  274
  288
Net income, $m
  147
  158
  169
  180
  192
  205
  218
  231
  245
  260
  306
  322
  339
  357
  375
  394
  414
  435
  457
  480
  504
  529
  555
  583
  612
  642
  674
  707
  742
  779

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  1,585
  1,694
  1,808
  1,926
  2,049
  2,176
  2,310
  2,448
  2,593
  2,744
  2,901
  3,065
  3,236
  3,415
  3,603
  3,798
  4,003
  4,217
  4,441
  4,676
  4,922
  5,179
  5,449
  5,731
  6,028
  6,338
  6,664
  7,005
  7,363
  7,738
Adjusted assets (=assets-cash), $m
  1,585
  1,694
  1,808
  1,926
  2,049
  2,176
  2,310
  2,448
  2,593
  2,744
  2,901
  3,065
  3,236
  3,415
  3,603
  3,798
  4,003
  4,217
  4,441
  4,676
  4,922
  5,179
  5,449
  5,731
  6,028
  6,338
  6,664
  7,005
  7,363
  7,738
Revenue / Adjusted assets
  1.609
  1.609
  1.609
  1.609
  1.609
  1.609
  1.609
  1.609
  1.609
  1.609
  1.609
  1.609
  1.609
  1.609
  1.609
  1.609
  1.609
  1.609
  1.609
  1.609
  1.609
  1.609
  1.609
  1.609
  1.609
  1.609
  1.609
  1.609
  1.609
  1.609
Average production assets, $m
  574
  613
  654
  697
  742
  788
  836
  886
  939
  993
  1,050
  1,110
  1,172
  1,236
  1,304
  1,375
  1,449
  1,527
  1,608
  1,693
  1,782
  1,875
  1,973
  2,075
  2,182
  2,295
  2,412
  2,536
  2,666
  2,801
Working capital, $m
  20
  22
  23
  25
  26
  28
  30
  32
  33
  35
  37
  39
  42
  44
  46
  49
  52
  54
  57
  60
  63
  67
  70
  74
  78
  82
  86
  90
  95
  100
Total debt, $m
  333
  394
  456
  521
  589
  659
  733
  809
  889
  972
  1,058
  1,149
  1,243
  1,342
  1,445
  1,553
  1,666
  1,784
  1,907
  2,037
  2,172
  2,314
  2,462
  2,618
  2,781
  2,952
  3,132
  3,320
  3,517
  3,724
Total liabilities, $m
  873
  934
  996
  1,061
  1,129
  1,199
  1,273
  1,349
  1,429
  1,512
  1,598
  1,689
  1,783
  1,882
  1,985
  2,093
  2,206
  2,324
  2,447
  2,576
  2,712
  2,854
  3,002
  3,158
  3,321
  3,492
  3,672
  3,860
  4,057
  4,264
Total equity, $m
  712
  761
  812
  865
  920
  977
  1,037
  1,099
  1,164
  1,232
  1,302
  1,376
  1,453
  1,534
  1,618
  1,705
  1,797
  1,894
  1,994
  2,100
  2,210
  2,325
  2,447
  2,573
  2,706
  2,846
  2,992
  3,145
  3,306
  3,474
Total liabilities and equity, $m
  1,585
  1,695
  1,808
  1,926
  2,049
  2,176
  2,310
  2,448
  2,593
  2,744
  2,900
  3,065
  3,236
  3,416
  3,603
  3,798
  4,003
  4,218
  4,441
  4,676
  4,922
  5,179
  5,449
  5,731
  6,027
  6,338
  6,664
  7,005
  7,363
  7,738
Debt-to-equity ratio
  0.470
  0.520
  0.560
  0.600
  0.640
  0.670
  0.710
  0.740
  0.760
  0.790
  0.810
  0.830
  0.860
  0.880
  0.890
  0.910
  0.930
  0.940
  0.960
  0.970
  0.980
  1.000
  1.010
  1.020
  1.030
  1.040
  1.050
  1.060
  1.060
  1.070
Adjusted equity ratio
  0.449
  0.449
  0.449
  0.449
  0.449
  0.449
  0.449
  0.449
  0.449
  0.449
  0.449
  0.449
  0.449
  0.449
  0.449
  0.449
  0.449
  0.449
  0.449
  0.449
  0.449
  0.449
  0.449
  0.449
  0.449
  0.449
  0.449
  0.449
  0.449
  0.449

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  147
  158
  169
  180
  192
  205
  218
  231
  245
  260
  306
  322
  339
  357
  375
  394
  414
  435
  457
  480
  504
  529
  555
  583
  612
  642
  674
  707
  742
  779
Depreciation, amort., depletion, $m
  94
  97
  101
  105
  109
  113
  117
  121
  126
  131
  94
  99
  105
  110
  116
  123
  129
  136
  144
  151
  159
  167
  176
  185
  195
  205
  215
  226
  238
  250
Funds from operations, $m
  241
  255
  270
  285
  301
  317
  335
  353
  372
  391
  400
  421
  444
  467
  491
  517
  543
  571
  600
  631
  663
  696
  731
  768
  807
  847
  889
  934
  980
  1,029
Change in working capital, $m
  1
  1
  1
  2
  2
  2
  2
  2
  2
  2
  2
  2
  2
  2
  2
  3
  3
  3
  3
  3
  3
  3
  3
  4
  4
  4
  4
  4
  5
  5
Cash from operations, $m
  239
  253
  268
  283
  299
  316
  333
  351
  370
  389
  398
  419
  442
  465
  489
  514
  541
  568
  597
  628
  660
  693
  728
  764
  803
  843
  885
  929
  976
  1,024
Maintenance CAPEX, $m
  -48
  -51
  -55
  -58
  -62
  -66
  -70
  -75
  -79
  -84
  -89
  -94
  -99
  -105
  -110
  -116
  -123
  -129
  -136
  -144
  -151
  -159
  -167
  -176
  -185
  -195
  -205
  -215
  -226
  -238
New CAPEX, $m
  -38
  -40
  -41
  -43
  -44
  -46
  -48
  -50
  -52
  -55
  -57
  -59
  -62
  -65
  -68
  -71
  -74
  -78
  -81
  -85
  -89
  -93
  -98
  -102
  -107
  -112
  -118
  -124
  -130
  -136
Cash from investing activities, $m
  -86
  -91
  -96
  -101
  -106
  -112
  -118
  -125
  -131
  -139
  -146
  -153
  -161
  -170
  -178
  -187
  -197
  -207
  -217
  -229
  -240
  -252
  -265
  -278
  -292
  -307
  -323
  -339
  -356
  -374
Free cash flow, $m
  154
  163
  172
  182
  193
  203
  215
  226
  238
  251
  252
  266
  280
  295
  311
  327
  344
  362
  380
  399
  419
  441
  463
  486
  510
  536
  562
  590
  619
  650
Issuance/(repayment) of debt, $m
  58
  60
  63
  65
  68
  70
  73
  76
  80
  83
  87
  90
  94
  99
  103
  108
  113
  118
  124
  129
  135
  142
  149
  156
  163
  171
  179
  188
  197
  207
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  58
  60
  63
  65
  68
  70
  73
  76
  80
  83
  87
  90
  94
  99
  103
  108
  113
  118
  124
  129
  135
  142
  149
  156
  163
  171
  179
  188
  197
  207
Total cash flow (excl. dividends), $m
  212
  223
  235
  247
  260
  274
  288
  303
  318
  334
  339
  357
  375
  394
  414
  435
  457
  480
  503
  529
  555
  582
  611
  642
  673
  707
  742
  778
  817
  857
Retained Cash Flow (-), $m
  -47
  -49
  -51
  -53
  -55
  -57
  -60
  -62
  -65
  -68
  -71
  -74
  -77
  -80
  -84
  -88
  -92
  -96
  -101
  -105
  -110
  -116
  -121
  -127
  -133
  -139
  -146
  -153
  -161
  -169
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  165
  174
  184
  194
  205
  216
  228
  240
  253
  266
  269
  283
  298
  314
  330
  347
  365
  383
  403
  423
  445
  467
  490
  515
  540
  567
  596
  625
  656
  688
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  158
  159
  160
  160
  159
  157
  154
  150
  145
  140
  128
  121
  113
  105
  97
  88
  79
  71
  62
  54
  46
  39
  32
  26
  21
  17
  13
  10
  7
  5
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Herman Miller, Inc. is engaged in the research, design, manufacture, sale and distribution of office furniture systems, seating products, home furnishings and related services, among others. The Company's segments include North American Furniture Solutions, which includes the design, manufacture and sale of furniture products for work-related settings, including office, education and healthcare environments, across the United States and Canada; EMEA, Latin America, and Asia Pacific (ELA) Furniture Solutions, which includes the operations associated with the design, manufacture, and sale of furniture products, primarily for work-related settings, in the Europe, Middle East and Africa (EMEA), Latin America and Asia-Pacific geographic regions, among others; Specialty segment, which includes the design, manufacture and sale of furniture products and textiles, and Consumer segment, which includes the sale of modern design furnishings and accessories to third-party retail distributors.

FINANCIAL RATIOS  of  Herman Miller (MLHR)

Valuation Ratios
P/E Ratio 17.8
Price to Sales 1
Price to Book 3.8
Price to Tangible Book
Price to Cash Flow 11
Price to Free Cash Flow 19.2
Growth Rates
Sales Growth Rate 0.6%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 2.4%
Cap. Spend. - 3 Yr. Gr. Rate 16.2%
Financial Strength
Quick Ratio NaN
Current Ratio 0.1
LT Debt to Equity 34%
Total Debt to Equity 34%
Interest Coverage 15
Management Effectiveness
Return On Assets 10.5%
Ret/ On Assets - 3 Yr. Avg. 10.8%
Return On Total Capital 16.2%
Ret/ On T. Cap. - 3 Yr. Avg. 16.6%
Return On Equity 22.3%
Return On Equity - 3 Yr. Avg. 25.4%
Asset Turnover 1.8
Profitability Ratios
Gross Margin 37.9%
Gross Margin - 3 Yr. Avg. 37.8%
EBITDA Margin 11%
EBITDA Margin - 3 Yr. Avg. 10%
Operating Margin 8.4%
Oper. Margin - 3 Yr. Avg. 8.5%
Pre-Tax Margin 7.8%
Pre-Tax Margin - 3 Yr. Avg. 7.8%
Net Profit Margin 5.4%
Net Profit Margin - 3 Yr. Avg. 5.4%
Effective Tax Rate 30.9%
Eff/ Tax Rate - 3 Yr. Avg. 31.3%
Payout Ratio 31.5%

MLHR stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the MLHR stock intrinsic value calculation we used $2381.2 million for the last fiscal year's total revenue generated by Herman Miller. The default revenue input number comes from 0001 income statement of Herman Miller. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our MLHR stock valuation model: a) initial revenue growth rate of 7.1% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for MLHR is calculated based on our internal credit rating of Herman Miller, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Herman Miller.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of MLHR stock the variable cost ratio is equal to 91.6%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for MLHR stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.7% for Herman Miller.

Corporate tax rate of 27% is the nominal tax rate for Herman Miller. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the MLHR stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for MLHR are equal to 22.5%.

Life of production assets of 11.2 years is the average useful life of capital assets used in Herman Miller operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for MLHR is equal to 0.8%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $664.6 million for Herman Miller - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 59.624 million for Herman Miller is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Herman Miller at the current share price and the inputted number of shares is $2.2 billion.

RELATED COMPANIES Price Int.Val. Rating
KEQU Kewaunee Scien 33.15 137.80  str.buy
VIRC Virco Manufact 3.95 0.96  str.sell
SCS Steelcase 15.25 24.68  str.buy
KNL Knoll Inc. 22.30 64.00  str.buy
HNI HNI 42.00 43.91  hold
KBAL Kimball Intern 17.63 30.06  str.buy
LEG Leggett&Platt 46.11 71.47  str.buy
NVFY Nova Lifestyle 1.76 32.57  str.buy

COMPANY NEWS

▶ Herman Miller Tracks Its 'Reversion to the Mean'   [Sep-18-18 08:58AM  Investopedia]
▶ Herman Miller Inc (NASDAQ:MLHR): Will The Growth Last?   [Sep-10-18 10:44AM  Simply Wall St.]
▶ Herman Miller's Management Shares Key Insights   [Jul-05-18 03:03PM  Motley Fool]
▶ Company News For Jul 5, 2018   [09:40AM  Zacks]
▶ Herman Miller Stock Soars on Q4 Earnings Beat   [Jul-03-18 05:25PM  InvestorPlace]
▶ What Happened in the Stock Market Today   [02:02PM  Motley Fool]
▶ After-hours buzz: MLHR, ACXM & more   [Jul-02-18 05:13PM  CNBC]
▶ Herman Miller: Fiscal 4Q Earnings Snapshot   [04:22PM  Associated Press]
▶ Herman Miller Q4 Earnings Preview   [07:44AM  Benzinga]
▶ Herman Miller Acquires an Interest in HAY   [Jun-07-18 08:00AM  PR Newswire]
▶ April Top Services Dividend Payers   [Apr-27-18 03:02PM  Simply Wall St.]
▶ 3 Things Herman Miller's Management Wants You to Know   [Apr-05-18 03:30PM  Motley Fool]
▶ Herman Miller posts 3Q profit   [04:13PM  Associated Press]
▶ FED MEETING What you need to know in markets on Wednesday   [Mar-20-18 06:25PM  Yahoo Finance]
▶ Herman Miller Announces CEO Succession Plan   [Feb-05-18 04:30PM  PR Newswire]
▶ 5 Best Stocks Worth Buying on Upgraded Broker Ratings   [Jan-08-18 03:00PM  InvestorPlace]
▶ Herman Miller posts 2Q profit   [Dec-20-17 04:13PM  Associated Press]
▶ Herman Miller Earnings Preview   [07:17AM  Benzinga]
▶ Herman Miller posts 1Q profit   [Sep-20-17 09:16PM  Associated Press]

CONTACT US       ASSET ALLOCATION

About X-FIN       Site news       Privacy policy       Terms of use       FAQ

Copyright © X-FIN.com 2005-2018. All rigths reserved.