MIDDLEBY CORP (MIDD) Stock Fundamental Analysis
NASDAQ:MIDD - Nasdaq - US5962781010 - Common Stock - Currency: USD
Overall MIDD gets a fundamental rating of 5 out of 10. We evaluated MIDD against 127 industry peers in the Machinery industry. MIDD has only an average score on both its financial health and profitability. MIDD has a valuation in line with the averages, but on the other hand it scores bad on growth.
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.
In the past 5 years MIDD has always been profitable.
In the past 5 years MIDD always reported a positive cash flow from operatings.
1.2 Ratios
MIDD's Return On Assets of 5.87% is in line compared to the rest of the industry. MIDD outperforms 59.84% of its industry peers.
With a decent Return On Equity value of 11.64%, MIDD is doing good in the industry, outperforming 62.99% of the companies in the same industry.
The Return On Invested Capital of MIDD (8.26%) is comparable to the rest of the industry.
The Average Return On Invested Capital over the past 3 years for MIDD is in line with the industry average of 10.54%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 5.87% | ||
| ROE | 11.64% | ||
| ROIC | 8.26% |
ROA(3y)6.01%
ROA(5y)5.93%
ROE(3y)13.24%
ROE(5y)13.96%
ROIC(3y)8.58%
ROIC(5y)7.78%
1.3 Margins
The Profit Margin of MIDD (11.26%) is better than 79.53% of its industry peers.
MIDD's Profit Margin has been stable in the last couple of years.
MIDD has a Operating Margin of 18.44%. This is amongst the best in the industry. MIDD outperforms 85.04% of its industry peers.
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 38.13%, MIDD is doing good in the industry, outperforming 70.08% of the companies in the same industry.
In the last couple of years the Gross Margin of MIDD has remained more or less at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 18.44% | ||
| PM (TTM) | 11.26% | ||
| GM | 38.13% |
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%
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.
2.2 Solvency
MIDD has an Altman-Z score of 3.00. This indicates that MIDD is financially healthy and has little risk of bankruptcy at the moment.
MIDD has a Altman-Z score of 3.00. This is comparable to the rest of the industry: MIDD outperforms 50.39% of its industry peers.
The Debt to FCF ratio of MIDD is 3.87, which is a good value as it means it would take MIDD, 3.87 years of fcf income to pay off all of its debts.
MIDD has a Debt to FCF ratio (3.87) which is in line with its industry peers.
A Debt/Equity ratio of 0.63 indicates that MIDD is somewhat dependend on debt financing.
Looking at the Debt to Equity ratio, with a value of 0.63, MIDD is doing worse than 64.57% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.63 | ||
| Debt/FCF | 3.87 | ||
| Altman-Z | 3 |
ROIC/WACC0.89
WACC9.32%
2.3 Liquidity
MIDD has a Current Ratio of 2.72. This indicates that MIDD is financially healthy and has no problem in meeting its short term obligations.
With a decent Current ratio value of 2.72, MIDD is doing good in the industry, outperforming 73.23% of the companies in the same industry.
MIDD has a Quick Ratio of 1.73. This is a normal value and indicates that MIDD is financially healthy and should not expect problems in meeting its short term obligations.
MIDD's Quick ratio of 1.73 is fine compared to the rest of the industry. MIDD outperforms 74.02% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 2.72 | ||
| Quick Ratio | 1.73 |
3. Growth
3.1 Past
MIDD shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 3.88%.
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.
Looking at the last year, MIDD shows a decrease in Revenue. The Revenue has decreased by -1.70% in the last year.
MIDD shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 5.54% yearly.
EPS 1Y (TTM)3.88%
EPS 3Y6.17%
EPS 5Y6.89%
EPS Q2Q%-1.67%
Revenue 1Y (TTM)-1.7%
Revenue growth 3Y6.03%
Revenue growth 5Y5.54%
Sales Q2Q%-1.38%
3.2 Future
The Earnings Per Share is expected to grow by 6.89% on average over the next years.
MIDD is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 2.80% yearly.
EPS Next Y1.84%
EPS Next 2Y5.91%
EPS Next 3Y8.04%
EPS Next 5Y6.89%
Revenue Next Year1.55%
Revenue Next 2Y2.62%
Revenue Next 3Y3%
Revenue Next 5Y2.8%
3.3 Evolution
The EPS growth rate is stable: in the next years the growth will be about the same than in the last years.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
The Price/Earnings ratio is 13.76, which indicates a correct valuation of MIDD.
Based on the Price/Earnings ratio, MIDD is valued cheaply inside the industry as 87.40% of the companies are valued more expensively.
MIDD's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 26.85.
Based on the Price/Forward Earnings ratio of 12.46, the valuation of MIDD can be described as correct.
MIDD's Price/Forward Earnings ratio is rather cheap when compared to the industry. MIDD is cheaper than 85.83% of the companies in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 34.98, MIDD is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 13.76 | ||
| Fwd PE | 12.46 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of MIDD indicates a somewhat cheap valuation: MIDD is cheaper than 79.53% of the companies listed in the same industry.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of MIDD indicates a rather cheap valuation: MIDD is cheaper than 91.34% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 10.9 | ||
| EV/EBITDA | 9.87 |
4.3 Compensation for Growth
The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
MIDD has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)7.48
PEG (5Y)2
EPS Next 2Y5.91%
EPS Next 3Y8.04%
5. Dividend
5.1 Amount
MIDD does not give a dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
132.61
+1.89 (+1.45%)
Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryMachinery
Earnings (Last)
Earnings (Next)
Inst Owners108.42%
Inst Owner Change-6.7%
Ins Owners1.36%
Ins Owner Change4.64%
Market Cap6.72B
Analysts76
Price Target171.7 (29.48%)
Short Float %7.72%
Short Ratio3.89
Dividend
| Industry Rank | Sector 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)2
Avg EPS beat(2)8.13%
Min EPS beat(2)4.3%
Max EPS beat(2)11.96%
EPS beat(4)3
Avg EPS beat(4)2.53%
Min EPS beat(4)-7.73%
Max EPS beat(4)11.96%
EPS beat(8)5
Avg EPS beat(8)1.21%
EPS beat(12)8
Avg EPS beat(12)1.55%
EPS beat(16)9
Avg EPS beat(16)0.83%
Revenue beat(2)0
Avg Revenue beat(2)-3%
Min Revenue beat(2)-5.59%
Max Revenue beat(2)-0.4%
Revenue beat(4)0
Avg Revenue beat(4)-3.7%
Min Revenue beat(4)-6.61%
Max Revenue beat(4)-0.4%
Revenue beat(8)0
Avg Revenue beat(8)-4.07%
Revenue beat(12)1
Avg Revenue beat(12)-3.03%
Revenue beat(16)3
Avg Revenue beat(16)-2.29%
PT rev (1m)-4.54%
PT rev (3m)-8.84%
EPS NQ rev (1m)-2.3%
EPS NQ rev (3m)-8.98%
EPS NY rev (1m)0%
EPS NY rev (3m)-3.12%
Revenue NQ rev (1m)-0.51%
Revenue NQ rev (3m)-3.65%
Revenue NY rev (1m)0.15%
Revenue NY rev (3m)-0.72%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 13.76 | ||
| Fwd PE | 12.46 | ||
| P/S | 1.74 | ||
| P/FCF | 10.9 | ||
| P/OCF | 9.78 | ||
| P/B | 1.8 | ||
| P/tB | N/A | ||
| EV/EBITDA | 9.87 |
EPS(TTM)9.64
EY7.27%
EPS(NY)10.64
Fwd EY8.03%
FCF(TTM)12.17
FCFY9.18%
OCF(TTM)13.56
OCFY10.22%
SpS76.06
BVpS73.6
TBVpS-8.28
PEG (NY)7.48
PEG (5Y)2
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 5.87% | ||
| ROE | 11.64% | ||
| ROCE | 10.91% | ||
| ROIC | 8.26% | ||
| ROICexc | 9.33% | ||
| ROICexgc | 33.2% | ||
| OM | 18.44% | ||
| PM (TTM) | 11.26% | ||
| GM | 38.13% | ||
| FCFM | 16% |
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-Score8
Asset Turnover0.52
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.63 | ||
| Debt/FCF | 3.87 | ||
| Debt/EBITDA | 2.79 | ||
| Cap/Depr | 55.48% | ||
| Cap/Sales | 1.83% | ||
| Interest Coverage | 7.52 | ||
| Cash Conversion | 82.01% | ||
| Profit Quality | 142.01% | ||
| Current Ratio | 2.72 | ||
| Quick Ratio | 1.73 | ||
| Altman-Z | 3 |
F-Score8
WACC9.32%
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)3.88%
EPS 3Y6.17%
EPS 5Y6.89%
EPS Q2Q%-1.67%
EPS Next Y1.84%
EPS Next 2Y5.91%
EPS Next 3Y8.04%
EPS Next 5Y6.89%
Revenue 1Y (TTM)-1.7%
Revenue growth 3Y6.03%
Revenue growth 5Y5.54%
Sales Q2Q%-1.38%
Revenue Next Year1.55%
Revenue Next 2Y2.62%
Revenue Next 3Y3%
Revenue Next 5Y2.8%
EBIT growth 1Y0.98%
EBIT growth 3Y10.34%
EBIT growth 5Y6.38%
EBIT Next Year15.05%
EBIT Next 3Y11.04%
EBIT Next 5YN/A
FCF growth 1Y72.24%
FCF growth 3Y19.69%
FCF growth 5Y14.02%
OCF growth 1Y56.18%
OCF growth 3Y17.5%
OCF growth 5Y12.72%