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MIDDLEBY CORP (MIDD) Stock Fundamental Analysis

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

171.14  -0.52 (-0.3%)

After market: 171.14 0 (0%)

Fundamental Rating

5

Overall MIDD gets a fundamental rating of 5 out of 10. We evaluated MIDD against 130 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.


Dividend Valuation Growth Profitability Health

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6

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.
Each year in the past 5 years MIDD had a positive operating cash flow.
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 200M 400M 600M

1.2 Ratios

MIDD's Return On Assets of 5.45% is in line compared to the rest of the industry. MIDD outperforms 59.84% of its industry peers.
MIDD's Return On Equity of 10.92% is fine compared to the rest of the industry. MIDD outperforms 60.63% of its industry peers.
MIDD has a Return On Invested Capital of 8.38%. This is in the better half of the industry: MIDD outperforms 60.63% of its industry peers.
MIDD had an Average Return On Invested Capital over the past 3 years of 8.42%. This is below the industry average of 11.03%.
Industry RankSector Rank
ROA 5.45%
ROE 10.92%
ROIC 8.38%
ROA(3y)6.6%
ROA(5y)6.17%
ROE(3y)15.84%
ROE(5y)15.22%
ROIC(3y)8.42%
ROIC(5y)8.07%
MIDD Yearly ROA, ROE, ROICMIDD Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 5 10 15 20

1.3 Margins

Looking at the Profit Margin, with a value of 10.14%, MIDD is in the better half of the industry, outperforming 70.87% of the companies in the same industry.
MIDD's Profit Margin has declined in the last couple of years.
The Operating Margin of MIDD (17.89%) is better than 84.25% of its industry peers.
In the last couple of years the Operating Margin of MIDD has remained more or less at the same level.
MIDD has a better Gross Margin (37.94%) than 69.29% of its industry peers.
In the last couple of years the Gross Margin of MIDD has remained more or less at the same level.
Industry RankSector Rank
OM 17.89%
PM (TTM) 10.14%
GM 37.94%
OM growth 3Y8.95%
OM growth 5Y1.06%
PM growth 3Y6.39%
PM growth 5Y-3.14%
GM growth 3Y2.69%
GM growth 5Y0.6%
MIDD Yearly Profit, Operating, Gross MarginsMIDD Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 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.
The number of shares outstanding for MIDD remains at a similar level compared to 1 year ago.
The number of shares outstanding for MIDD has been reduced compared to 5 years ago.
MIDD has a better debt/assets ratio than last year.
MIDD Yearly Shares OutstandingMIDD Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 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 2B 4B 6B

2.2 Solvency

MIDD has an Altman-Z score of 3.46. This indicates that MIDD is financially healthy and has little risk of bankruptcy at the moment.
MIDD has a Altman-Z score (3.46) which is comparable to the rest of the industry.
The Debt to FCF ratio of MIDD is 3.69, which is a good value as it means it would take MIDD, 3.69 years of fcf income to pay off all of its debts.
MIDD has a Debt to FCF ratio (3.69) which is in line with its industry peers.
MIDD has a Debt/Equity ratio of 0.66. This is a neutral value indicating MIDD is somewhat dependend on debt financing.
With a Debt to Equity ratio value of 0.66, MIDD is not doing good in the industry: 67.72% of the companies in the same industry are doing better.
Industry RankSector Rank
Debt/Equity 0.66
Debt/FCF 3.69
Altman-Z 3.46
ROIC/WACC0.91
WACC9.25%
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 1B 2B 3B

2.3 Liquidity

MIDD has a Current Ratio of 2.81. This indicates that MIDD is financially healthy and has no problem in meeting its short term obligations.
MIDD has a better Current ratio (2.81) than 71.65% of its industry peers.
A Quick Ratio of 1.70 indicates that MIDD should not have too much problems paying its short term obligations.
The Quick ratio of MIDD (1.70) is better than 71.65% of its industry peers.
Industry RankSector Rank
Current Ratio 2.81
Quick Ratio 1.7
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 500M 1B 1.5B 2B

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3

3. Growth

3.1 Past

The earnings per share for MIDD have decreased by -3.34% in the last year.
Measured over the past years, MIDD shows a quite strong growth in Earnings Per Share. The EPS has been growing by 11.13% on average per year.
Looking at the last year, MIDD shows a decrease in Revenue. The Revenue has decreased by -4.68% in the last year.
MIDD shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 8.19% yearly.
EPS 1Y (TTM)-3.34%
EPS 3Y24.8%
EPS 5Y11.13%
EPS Q2Q%-0.85%
Revenue 1Y (TTM)-4.68%
Revenue growth 3Y17.11%
Revenue growth 5Y8.19%
Sales Q2Q%-3.25%

3.2 Future

The Earnings Per Share is expected to grow by 6.34% on average over the next years.
Based on estimates for the next years, MIDD will show a small growth in Revenue. The Revenue will grow by 1.52% on average per year.
EPS Next Y-2.97%
EPS Next 2Y2.93%
EPS Next 3Y4.31%
EPS Next 5Y6.34%
Revenue Next Year-4.72%
Revenue Next 2Y-0.67%
Revenue Next 3Y1.05%
Revenue Next 5Y1.52%

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 decreasing.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
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 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 2 4 6 8 10

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5

4. Valuation

4.1 Price/Earnings Ratio

A Price/Earnings ratio of 18.48 indicates a rather expensive valuation of MIDD.
Based on the Price/Earnings ratio, MIDD is valued a bit cheaper than 74.02% of the companies in the same industry.
Compared to an average S&P500 Price/Earnings ratio of 28.46, MIDD is valued a bit cheaper.
The Price/Forward Earnings ratio is 16.72, which indicates a correct valuation of MIDD.
73.23% of the companies in the same industry are more expensive than MIDD, based on the Price/Forward Earnings ratio.
Compared to an average S&P500 Price/Forward Earnings ratio of 92.56, MIDD is valued rather cheaply.
Industry RankSector Rank
PE 18.48
Fwd PE 16.72
MIDD Price Earnings VS Forward Price EarningsMIDD Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60 80

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 62.20% 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 88.98% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 14.14
EV/EBITDA 13.44
MIDD Per share dataMIDD EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 20 40 60

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)1.66
EPS Next 2Y2.93%
EPS Next 3Y4.31%

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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 (1/31/2025, 8:00:00 PM)

After market: 171.14 0 (0%)

171.14

-0.52 (-0.3%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryMachinery
Earnings (Last)10-31 2024-10-31/bmo
Earnings (Next)02-18 2025-02-18/amc
Inst Owners102.02%
Inst Owner Change2.01%
Ins Owners1.27%
Ins Owner Change-0.07%
Market Cap9.21B
Analysts76
Price Target158.97 (-7.11%)
Short Float %5.07%
Short Ratio4.32
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly Dividend0
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)-3.06%
Min EPS beat(2)-7.73%
Max EPS beat(2)1.62%
EPS beat(4)2
Avg EPS beat(4)-2.38%
Min EPS beat(4)-10.12%
Max EPS beat(4)6.7%
EPS beat(8)5
Avg EPS beat(8)0.95%
EPS beat(12)7
Avg EPS beat(12)0.29%
EPS beat(16)9
Avg EPS beat(16)1.08%
Revenue beat(2)0
Avg Revenue beat(2)-4.41%
Min Revenue beat(2)-6.61%
Max Revenue beat(2)-2.21%
Revenue beat(4)0
Avg Revenue beat(4)-4.77%
Min Revenue beat(4)-7.14%
Max Revenue beat(4)-2.21%
Revenue beat(8)1
Avg Revenue beat(8)-3.09%
Revenue beat(12)3
Avg Revenue beat(12)-2.16%
Revenue beat(16)5
Avg Revenue beat(16)-1.61%
PT rev (1m)-0.91%
PT rev (3m)-6.86%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-14.23%
EPS NY rev (1m)0%
EPS NY rev (3m)-4.5%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-6.62%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-3.08%
Valuation
Industry RankSector Rank
PE 18.48
Fwd PE 16.72
P/S 2.38
P/FCF 14.14
P/OCF 13.1
P/B 2.56
P/tB N/A
EV/EBITDA 13.44
EPS(TTM)9.26
EY5.41%
EPS(NY)10.23
Fwd EY5.98%
FCF(TTM)12.1
FCFY7.07%
OCF(TTM)13.07
OCFY7.63%
SpS71.94
BVpS66.8
TBVpS-10.5
PEG (NY)N/A
PEG (5Y)1.66
Profitability
Industry RankSector Rank
ROA 5.45%
ROE 10.92%
ROCE 10.84%
ROIC 8.38%
ROICexc 9.26%
ROICexgc 32.98%
OM 17.89%
PM (TTM) 10.14%
GM 37.94%
FCFM 16.82%
ROA(3y)6.6%
ROA(5y)6.17%
ROE(3y)15.84%
ROE(5y)15.22%
ROIC(3y)8.42%
ROIC(5y)8.07%
ROICexc(3y)8.71%
ROICexc(5y)8.37%
ROICexgc(3y)34.12%
ROICexgc(5y)34.7%
ROCE(3y)10.89%
ROCE(5y)10.45%
ROICexcg growth 3Y2.7%
ROICexcg growth 5Y-4.8%
ROICexc growth 3Y14.83%
ROICexc growth 5Y1.07%
OM growth 3Y8.95%
OM growth 5Y1.06%
PM growth 3Y6.39%
PM growth 5Y-3.14%
GM growth 3Y2.69%
GM growth 5Y0.6%
F-Score7
Asset Turnover0.54
Health
Industry RankSector Rank
Debt/Equity 0.66
Debt/FCF 3.69
Debt/EBITDA 2.88
Cap/Depr 40.31%
Cap/Sales 1.34%
Interest Coverage 6.83
Cash Conversion 85.62%
Profit Quality 165.9%
Current Ratio 2.81
Quick Ratio 1.7
Altman-Z 3.46
F-Score7
WACC9.25%
ROIC/WACC0.91
Cap/Depr(3y)52.38%
Cap/Depr(5y)48.02%
Cap/Sales(3y)1.82%
Cap/Sales(5y)1.74%
Profit Quality(3y)90.51%
Profit Quality(5y)119.68%
High Growth Momentum
Growth
EPS 1Y (TTM)-3.34%
EPS 3Y24.8%
EPS 5Y11.13%
EPS Q2Q%-0.85%
EPS Next Y-2.97%
EPS Next 2Y2.93%
EPS Next 3Y4.31%
EPS Next 5Y6.34%
Revenue 1Y (TTM)-4.68%
Revenue growth 3Y17.11%
Revenue growth 5Y8.19%
Sales Q2Q%-3.25%
Revenue Next Year-4.72%
Revenue Next 2Y-0.67%
Revenue Next 3Y1.05%
Revenue Next 5Y1.52%
EBIT growth 1Y-4%
EBIT growth 3Y27.59%
EBIT growth 5Y9.34%
EBIT Next Year13.99%
EBIT Next 3Y7.47%
EBIT Next 5YN/A
FCF growth 1Y267.2%
FCF growth 3Y3.91%
FCF growth 5Y10.59%
OCF growth 1Y180.21%
OCF growth 3Y6.21%
OCF growth 5Y11.26%