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MIDDLEBY CORP (MIDD) Stock Fundamental Analysis

NASDAQ:MIDD - Nasdaq - US5962781010 - Common Stock - Currency: USD

134.26  +2.63 (+2%)

Fundamental Rating

5

MIDD gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 128 industry peers in the Machinery industry. While MIDD has a great profitability rating, there are some minor concerns on its financial health. MIDD is valued correctly, but it does not seem to be growing.


Dividend Valuation Growth Profitability Health

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7

1. Profitability

1.1 Basic Checks

In the past year MIDD was profitable.
In the past year MIDD had a positive cash flow from operations.
Each year in the past 5 years MIDD has been profitable.
MIDD had a positive operating cash flow in each of the past 5 years.
MIDD Yearly Net Income VS EBIT VS OCF VS FCFMIDD Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M

1.2 Ratios

MIDD has a Return On Assets of 5.88%. This is in the better half of the industry: MIDD outperforms 60.94% of its industry peers.
MIDD has a better Return On Equity (11.78%) than 60.94% of its industry peers.
MIDD has a better Return On Invested Capital (8.30%) than 60.16% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for MIDD is in line with the industry average of 10.56%.
Industry RankSector Rank
ROA 5.88%
ROE 11.78%
ROIC 8.3%
ROA(3y)6.01%
ROA(5y)5.93%
ROE(3y)13.24%
ROE(5y)13.96%
ROIC(3y)8.58%
ROIC(5y)7.78%
MIDD Yearly ROA, ROE, ROICMIDD Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10 15 20

1.3 Margins

MIDD's Profit Margin of 11.06% is fine compared to the rest of the industry. MIDD outperforms 75.00% of its industry peers.
MIDD's Profit Margin has been stable in the last couple of years.
With an excellent Operating Margin value of 18.27%, MIDD belongs to the best of the industry, outperforming 85.16% of the companies in the same industry.
In the last couple of years the Operating Margin of MIDD has remained more or less at the same level.
With a decent Gross Margin value of 37.94%, MIDD is doing good in the industry, outperforming 70.31% of the companies in the same industry.
MIDD's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 18.27%
PM (TTM) 11.06%
GM 37.94%
OM growth 3Y4.07%
OM growth 5Y0.8%
PM growth 3Y-9.72%
PM growth 5Y-1.46%
GM growth 3Y1.06%
GM growth 5Y0.35%
MIDD Yearly Profit, Operating, Gross MarginsMIDD Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10 20 30

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6

2. Health

2.1 Basic Checks

MIDD has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
Compared to 1 year ago, MIDD has about the same amount of shares outstanding.
Compared to 5 years ago, MIDD has less shares outstanding
Compared to 1 year ago, MIDD has an improved debt to assets ratio.
MIDD Yearly Shares OutstandingMIDD Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10M 20M 30M 40M 50M
MIDD Yearly Total Debt VS Total AssetsMIDD Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B

2.2 Solvency

MIDD has an Altman-Z score of 3.09. This indicates that MIDD is financially healthy and has little risk of bankruptcy at the moment.
The Altman-Z score of MIDD (3.09) is comparable to the rest of the industry.
The Debt to FCF ratio of MIDD is 3.76, which is a good value as it means it would take MIDD, 3.76 years of fcf income to pay off all of its debts.
MIDD has a Debt to FCF ratio (3.76) which is comparable to the rest of the industry.
MIDD has a Debt/Equity ratio of 0.65. This is a neutral value indicating MIDD is somewhat dependend on debt financing.
The Debt to Equity ratio of MIDD (0.65) is worse than 64.06% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.65
Debt/FCF 3.76
Altman-Z 3.09
ROIC/WACC0.89
WACC9.37%
MIDD Yearly LT Debt VS Equity VS FCFMIDD Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B

2.3 Liquidity

A Current Ratio of 2.81 indicates that MIDD has no problem at all paying its short term obligations.
The Current ratio of MIDD (2.81) is better than 73.44% of its industry peers.
MIDD has a Quick Ratio of 1.79. This is a normal value and indicates that MIDD is financially healthy and should not expect problems in meeting its short term obligations.
The Quick ratio of MIDD (1.79) is better than 73.44% of its industry peers.
Industry RankSector Rank
Current Ratio 2.81
Quick Ratio 1.79
MIDD Yearly Current Assets VS Current LiabilitesMIDD Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B 2B

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3

3. Growth

3.1 Past

MIDD shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 3.42%.
Measured over the past 5 years, MIDD shows a small growth in Earnings Per Share. The EPS has been growing by 6.89% on average per year.
MIDD shows a decrease in Revenue. In the last year, the revenue decreased by -4.00%.
The Revenue has been growing slightly by 5.54% on average over the past years.
EPS 1Y (TTM)3.42%
EPS 3Y6.17%
EPS 5Y6.89%
EPS Q2Q%10.05%
Revenue 1Y (TTM)-4%
Revenue growth 3Y6.03%
Revenue growth 5Y5.54%
Sales Q2Q%-2.19%

3.2 Future

Based on estimates for the next years, MIDD will show a small growth in Earnings Per Share. The EPS will grow by 7.81% on average per year.
Based on estimates for the next years, MIDD will show a small growth in Revenue. The Revenue will grow by 3.33% on average per year.
EPS Next Y5.12%
EPS Next 2Y7.26%
EPS Next 3Y8.57%
EPS Next 5Y7.81%
Revenue Next Year3.48%
Revenue Next 2Y3.63%
Revenue Next 3Y3.6%
Revenue Next 5Y3.33%

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
MIDD Yearly Revenue VS EstimatesMIDD Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 1B 2B 3B 4B
MIDD Yearly EPS VS EstimatesMIDD Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2 4 6 8 10

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6

4. Valuation

4.1 Price/Earnings Ratio

A Price/Earnings ratio of 13.87 indicates a correct valuation of MIDD.
Compared to the rest of the industry, the Price/Earnings ratio of MIDD indicates a rather cheap valuation: MIDD is cheaper than 80.47% of the companies listed in the same industry.
When comparing the Price/Earnings ratio of MIDD to the average of the S&P500 Index (23.99), we can say MIDD is valued slightly cheaper.
MIDD is valuated correctly with a Price/Forward Earnings ratio of 12.30.
74.22% of the companies in the same industry are more expensive than MIDD, based on the Price/Forward Earnings ratio.
The average S&P500 Price/Forward Earnings ratio is at 20.35. MIDD is valued slightly cheaper when compared to this.
Industry RankSector Rank
PE 13.87
Fwd PE 12.3
MIDD Price Earnings VS Forward Price EarningsMIDD Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, MIDD is valued a bit cheaper than the industry average as 67.19% of the companies are valued more expensively.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of MIDD indicates a rather cheap valuation: MIDD is cheaper than 85.94% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 11.3
EV/EBITDA 10.5
MIDD Per share dataMIDD EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 20 40 60

4.3 Compensation for Growth

The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
The decent profitability rating of MIDD may justify a higher PE ratio.
PEG (NY)2.71
PEG (5Y)2.01
EPS Next 2Y7.26%
EPS Next 3Y8.57%

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0

5. Dividend

5.1 Amount

No dividends for MIDD!.
Industry RankSector Rank
Dividend Yield N/A

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MIDDLEBY CORP

NASDAQ:MIDD (5/8/2025, 10:51:55 AM)

134.26

+2.63 (+2%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryMachinery
Earnings (Last)05-07 2025-05-07/bmo
Earnings (Next)07-30 2025-07-30/amc
Inst Owners110.42%
Inst Owner Change-3.25%
Ins Owners1.26%
Ins Owner Change1.87%
Market Cap7.20B
Analysts76
Price Target188.36 (40.29%)
Short Float %6.1%
Short Ratio3.55
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)2.11%
Min EPS beat(2)-7.73%
Max EPS beat(2)11.96%
EPS beat(4)2
Avg EPS beat(4)-1.07%
Min EPS beat(4)-10.12%
Max EPS beat(4)11.96%
EPS beat(8)5
Avg EPS beat(8)1.93%
EPS beat(12)7
Avg EPS beat(12)1.13%
EPS beat(16)9
Avg EPS beat(16)1.06%
Revenue beat(2)0
Avg Revenue beat(2)-3.51%
Min Revenue beat(2)-6.61%
Max Revenue beat(2)-0.4%
Revenue beat(4)0
Avg Revenue beat(4)-4.09%
Min Revenue beat(4)-7.14%
Max Revenue beat(4)-0.4%
Revenue beat(8)1
Avg Revenue beat(8)-3.13%
Revenue beat(12)2
Avg Revenue beat(12)-2.21%
Revenue beat(16)4
Avg Revenue beat(16)-1.82%
PT rev (1m)-4.24%
PT rev (3m)2.35%
EPS NQ rev (1m)-1.3%
EPS NQ rev (3m)-3.49%
EPS NY rev (1m)-1.91%
EPS NY rev (3m)-2.39%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-0.47%
Revenue NY rev (1m)-0.59%
Revenue NY rev (3m)-0.1%
Valuation
Industry RankSector Rank
PE 13.87
Fwd PE 12.3
P/S 1.86
P/FCF 11.3
P/OCF 10.49
P/B 1.98
P/tB N/A
EV/EBITDA 10.5
EPS(TTM)9.68
EY7.21%
EPS(NY)10.92
Fwd EY8.13%
FCF(TTM)11.88
FCFY8.85%
OCF(TTM)12.8
OCFY9.54%
SpS72.23
BVpS67.82
TBVpS-9.15
PEG (NY)2.71
PEG (5Y)2.01
Profitability
Industry RankSector Rank
ROA 5.88%
ROE 11.78%
ROCE 10.97%
ROIC 8.3%
ROICexc 9.3%
ROICexgc 32.77%
OM 18.27%
PM (TTM) 11.06%
GM 37.94%
FCFM 16.45%
ROA(3y)6.01%
ROA(5y)5.93%
ROE(3y)13.24%
ROE(5y)13.96%
ROIC(3y)8.58%
ROIC(5y)7.78%
ROICexc(3y)9.12%
ROICexc(5y)8.23%
ROICexgc(3y)32.98%
ROICexgc(5y)32.85%
ROCE(3y)11.34%
ROCE(5y)10.28%
ROICexcg growth 3Y-1.32%
ROICexcg growth 5Y-3.17%
ROICexc growth 3Y7.22%
ROICexc growth 5Y0.39%
OM growth 3Y4.07%
OM growth 5Y0.8%
PM growth 3Y-9.72%
PM growth 5Y-1.46%
GM growth 3Y1.06%
GM growth 5Y0.35%
F-Score7
Asset Turnover0.53
Health
Industry RankSector Rank
Debt/Equity 0.65
Debt/FCF 3.76
Debt/EBITDA 2.82
Cap/Depr 38.84%
Cap/Sales 1.27%
Interest Coverage 7.25
Cash Conversion 82.25%
Profit Quality 148.78%
Current Ratio 2.81
Quick Ratio 1.79
Altman-Z 3.09
F-Score7
WACC9.37%
ROIC/WACC0.89
Cap/Depr(3y)51.59%
Cap/Depr(5y)46.78%
Cap/Sales(3y)1.72%
Cap/Sales(5y)1.68%
Profit Quality(3y)114.73%
Profit Quality(5y)130.65%
High Growth Momentum
Growth
EPS 1Y (TTM)3.42%
EPS 3Y6.17%
EPS 5Y6.89%
EPS Q2Q%10.05%
EPS Next Y5.12%
EPS Next 2Y7.26%
EPS Next 3Y8.57%
EPS Next 5Y7.81%
Revenue 1Y (TTM)-4%
Revenue growth 3Y6.03%
Revenue growth 5Y5.54%
Sales Q2Q%-2.19%
Revenue Next Year3.48%
Revenue Next 2Y3.63%
Revenue Next 3Y3.6%
Revenue Next 5Y3.33%
EBIT growth 1Y-2.63%
EBIT growth 3Y10.34%
EBIT growth 5Y6.38%
EBIT Next Year25.85%
EBIT Next 3Y12.39%
EBIT Next 5YN/A
FCF growth 1Y17.65%
FCF growth 3Y19.69%
FCF growth 5Y14.02%
OCF growth 1Y9.23%
OCF growth 3Y17.5%
OCF growth 5Y12.72%