MIDDLEBY CORP (MIDD) Stock Fundamental Analysis
USA - NASDAQ:MIDD - US5962781010 - Common Stock
134.85 USD
-0.31 (-0.23%)
134.85 USD
0 (0%)
Taking everything into account, MIDD scores 5 out of 10 in our fundamental rating. MIDD was compared to 128 industry peers in the Machinery industry. MIDD has an average financial health and profitability rating. 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.
MIDD had a positive operating cash flow in the past year.
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.
1.2 Ratios
Looking at the Return On Assets, with a value of 5.79%, MIDD is in the better half of the industry, outperforming 61.72% of the companies in the same industry.
MIDD has a Return On Equity of 11.73%. This is in the better half of the industry: MIDD outperforms 64.84% of its industry peers.
MIDD has a Return On Invested Capital (8.06%) which is in line with 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 10.02%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 5.79% | ||
| ROE | 11.73% | ||
| ROIC | 8.06% |
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
Looking at the Profit Margin, with a value of 11.06%, MIDD is in the better half of the industry, outperforming 78.13% of the companies in the same industry.
In the last couple of years the Profit Margin of MIDD has remained more or less at the same level.
MIDD has a Operating Margin of 17.90%. This is amongst the best in the industry. MIDD outperforms 85.16% of its industry peers.
MIDD's Operating Margin has been stable in the last couple of years.
Looking at the Gross Margin, with a value of 38.05%, MIDD is in the better half of the industry, outperforming 70.31% 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 | 17.9% | ||
| PM (TTM) | 11.06% | ||
| GM | 38.05% |
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
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so MIDD is destroying value.
The number of shares outstanding for MIDD remains at a similar level compared to 1 year ago.
MIDD has less shares outstanding than it did 5 years ago.
MIDD has a better debt/assets ratio than last year.
2.2 Solvency
MIDD has an Altman-Z score of 3.03. This indicates that MIDD is financially healthy and has little risk of bankruptcy at the moment.
Looking at the Altman-Z score, with a value of 3.03, MIDD is in line with its industry, outperforming 53.13% of the companies in the same industry.
MIDD has a debt to FCF ratio of 4.10. This is a neutral value as MIDD would need 4.10 years to pay back of all of its debts.
Looking at the Debt to FCF ratio, with a value of 4.10, MIDD is in line with its industry, outperforming 57.81% of the companies in the same industry.
A Debt/Equity ratio of 0.64 indicates that MIDD is somewhat dependend on debt financing.
MIDD has a worse Debt to Equity ratio (0.64) than 64.06% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.64 | ||
| Debt/FCF | 4.1 | ||
| Altman-Z | 3.03 |
ROIC/WACC0.86
WACC9.36%
2.3 Liquidity
A Current Ratio of 2.57 indicates that MIDD has no problem at all paying its short term obligations.
MIDD has a better Current ratio (2.57) than 67.19% of its industry peers.
MIDD has a Quick Ratio of 1.56. 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 (1.56) is better than 68.75% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 2.57 | ||
| Quick Ratio | 1.56 |
3. Growth
3.1 Past
The Earnings Per Share has been growing slightly by 3.88% over the past year.
The Earnings Per Share has been growing slightly by 6.89% on average over the past years.
Looking at the last year, MIDD shows a decrease in Revenue. The Revenue has decreased by -1.70% in the last year.
The Revenue has been growing slightly by 5.54% on average over the past years.
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
MIDD is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 6.89% yearly.
The Revenue is expected to grow by 2.80% on average over the next years.
EPS Next Y-4.66%
EPS Next 2Y1.65%
EPS Next 3Y5.24%
EPS Next 5Y6.89%
Revenue Next Year-0.2%
Revenue Next 2Y1.8%
Revenue Next 3Y2.5%
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.
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.
4. Valuation
4.1 Price/Earnings Ratio
Based on the Price/Earnings ratio of 13.99, the valuation of MIDD can be described as correct.
Compared to the rest of the industry, the Price/Earnings ratio of MIDD indicates a rather cheap valuation: MIDD is cheaper than 86.72% of the companies listed in the same industry.
When comparing the Price/Earnings ratio of MIDD to the average of the S&P500 Index (27.38), we can say MIDD is valued slightly cheaper.
The Price/Forward Earnings ratio is 13.75, which indicates a correct valuation of MIDD.
MIDD's Price/Forward Earnings ratio is rather cheap when compared to the industry. MIDD is cheaper than 84.38% of the companies in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 22.86, MIDD is valued a bit cheaper.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 13.99 | ||
| Fwd PE | 13.75 |
4.2 Price Multiples
77.34% of the companies in the same industry are more expensive than MIDD, based on the Enterprise Value to EBITDA ratio.
91.41% of the companies in the same industry are more expensive than MIDD, based on the Price/Free Cash Flow ratio.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 11.8 | ||
| EV/EBITDA | 10.69 |
4.3 Compensation for Growth
MIDD has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)N/A
PEG (5Y)2.03
EPS Next 2Y1.65%
EPS Next 3Y5.24%
5. Dividend
5.1 Amount
MIDD does not give a dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | N/A |
134.85
-0.31 (-0.23%)
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 Change2.77%
Market Cap6.83B
Analysts76
Price Target160.58 (19.08%)
Short Float %5.73%
Short Ratio2.93
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)3.77%
Min EPS beat(2)3.25%
Max EPS beat(2)4.3%
EPS beat(4)3
Avg EPS beat(4)2.94%
Min EPS beat(4)-7.73%
Max EPS beat(4)11.96%
EPS beat(8)5
Avg EPS beat(8)1.22%
EPS beat(12)8
Avg EPS beat(12)1.49%
EPS beat(16)10
Avg EPS beat(16)1.04%
Revenue beat(2)0
Avg Revenue beat(2)-3.62%
Min Revenue beat(2)-5.59%
Max Revenue beat(2)-1.66%
Revenue beat(4)0
Avg Revenue beat(4)-3.57%
Min Revenue beat(4)-6.61%
Max Revenue beat(4)-0.4%
Revenue beat(8)0
Avg Revenue beat(8)-4.08%
Revenue beat(12)1
Avg Revenue beat(12)-3.12%
Revenue beat(16)3
Avg Revenue beat(16)-2.28%
PT rev (1m)-6.48%
PT rev (3m)-10.72%
EPS NQ rev (1m)-1.2%
EPS NQ rev (3m)-18.86%
EPS NY rev (1m)-6.39%
EPS NY rev (3m)-5.37%
Revenue NQ rev (1m)0.12%
Revenue NQ rev (3m)-3.84%
Revenue NY rev (1m)-1.73%
Revenue NY rev (3m)-1.9%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 13.99 | ||
| Fwd PE | 13.75 | ||
| P/S | 1.78 | ||
| P/FCF | 11.8 | ||
| P/OCF | 10.36 | ||
| P/B | 1.89 | ||
| P/tB | N/A | ||
| EV/EBITDA | 10.69 |
EPS(TTM)9.64
EY7.15%
EPS(NY)9.81
Fwd EY7.27%
FCF(TTM)11.43
FCFY8.47%
OCF(TTM)13.01
OCFY9.65%
SpS75.79
BVpS71.48
TBVpS-11.52
PEG (NY)N/A
PEG (5Y)2.03
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 5.79% | ||
| ROE | 11.73% | ||
| ROCE | 10.65% | ||
| ROIC | 8.06% | ||
| ROICexc | 8.76% | ||
| ROICexgc | 29.96% | ||
| OM | 17.9% | ||
| PM (TTM) | 11.06% | ||
| GM | 38.05% | ||
| FCFM | 15.08% |
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 Turnover0.52
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.64 | ||
| Debt/FCF | 4.1 | ||
| Debt/EBITDA | 2.86 | ||
| Cap/Depr | 63.08% | ||
| Cap/Sales | 2.09% | ||
| Interest Coverage | 7.45 | ||
| Cash Conversion | 80.93% | ||
| Profit Quality | 136.34% | ||
| Current Ratio | 2.57 | ||
| Quick Ratio | 1.56 | ||
| Altman-Z | 3.03 |
F-Score7
WACC9.36%
ROIC/WACC0.86
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 Y-4.66%
EPS Next 2Y1.65%
EPS Next 3Y5.24%
EPS Next 5Y6.89%
Revenue 1Y (TTM)-1.7%
Revenue growth 3Y6.03%
Revenue growth 5Y5.54%
Sales Q2Q%-1.38%
Revenue Next Year-0.2%
Revenue Next 2Y1.8%
Revenue Next 3Y2.5%
Revenue Next 5Y2.8%
EBIT growth 1Y-1.13%
EBIT growth 3Y10.34%
EBIT growth 5Y6.38%
EBIT Next Year15.05%
EBIT Next 3Y11.04%
EBIT Next 5YN/A
FCF growth 1Y86.88%
FCF growth 3Y19.69%
FCF growth 5Y14.02%
OCF growth 1Y66.09%
OCF growth 3Y17.5%
OCF growth 5Y12.72%