| Snowflake Score | |
|---|---|
| Valuation | 5/6 |
| Future Growth | 1/6 |
| Past Performance | 5/6 |
| Financial Health | 2/6 |
| Dividends | 0/6 |
MIDD Stock Overview
The Middleby Corporation designs, manufactures, markets, distributes, and services a range of foodservice, food processing, and residential kitchen equipment in the United States, Canada, Asia, Europe, the Middle East, and Latin America.
Middleby Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | US$130.62 |
| 52 Week High | US$201.34 |
| 52 Week Low | US$121.85 |
| Beta | 1.56 |
| 1 Month Change | -9.91% |
| 3 Month Change | -21.04% |
| 1 Year Change | -23.67% |
| 3 Year Change | -3.74% |
| 5 Year Change | 7.50% |
| Change since IPO | 12,962.00% |
Recent News & Updates
Here's Why I Think Middleby (NASDAQ:MIDD) Is An Interesting Stock
It's only natural that many investors, especially those who are new to the game, prefer to buy shares in 'sexy' stocks...
Does Middleby (NASDAQ:MIDD) Have A Healthy Balance Sheet?
Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...
Shareholder Returns
| MIDD | US Machinery | US Market | |
|---|---|---|---|
| 7D | 5.3% | 1.5% | 6.6% |
| 1Y | -23.7% | -20.1% | -18.4% |
Return vs Industry: MIDD underperformed the US Machinery industry which returned -20.6% over the past year.
Return vs Market: MIDD underperformed the US Market which returned -18.5% over the past year.
Price Volatility
| MIDD volatility | |
|---|---|
| MIDD Average Weekly Movement | 6.0% |
| Machinery Industry Average Movement | 6.1% |
| Market Average Movement | 8.1% |
| 10% most volatile stocks in US Market | 16.6% |
| 10% least volatile stocks in US Market | 3.2% |
Stable Share Price: MIDD is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 6% a week.
Volatility Over Time: MIDD's weekly volatility (6%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 1888 | 10,624 | Tim FitzGerald | https://www.middleby.com |
The Middleby Corporation designs, manufactures, markets, distributes, and services a range of foodservice, food processing, and residential kitchen equipment in the United States, Canada, Asia, Europe, the Middle East, and Latin America. Its Commercial Foodservice Equipment Group segment offers conveyor, combi, convection, baking, proofing, deck, speed cooking, and hydrovection ovens; ranges, fryers, rethermalizers; steam cooking, food warming, catering, induction cooking, and countertop cooking equipment; heated cabinets, charbroilers, ventless cooking systems, kitchen ventilation, toasters, griddles, charcoal grills, professional mixers, stainless steel fabrication, custom millwork, professional refrigerators, blast chillers, cold rooms, ice machines, and freezers; and soft serve ice cream, coffee and beverage dispensing, home and professional craft brewing equipment, fry dispensers, bottle filling and canning equipment, and IoT solutions. The company’s Food Processing Equipment Group segment provides batch, baking, proofing, conveyor belt, and continuous processing ovens; frying and automated thermal processing systems; tumblers, massagers, grinders, slicers, reduction and emulsion systems, mixers, formers, and blenders; battering, breading, and seeding equipment; water cutting systems, food presses, food suspension equipment, filling and depositing solutions, and forming equipment; and food safety, food handling, freezing, and defrosting and packaging equipment for customers producing hot dog, dinner sausage, poultry, and lunchmeat, as well as muffin, cookie, and bread products.
Middleby Fundamentals Summary
| MIDD fundamental statistics | |
|---|---|
| Market Cap | US$7.10b |
| Earnings (TTM) | US$484.98m |
| Revenue (TTM) | US$3.49b |
14.6x
P/E Ratio2.0x
P/S RatioIs MIDD overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| MIDD income statement (TTM) | |
|---|---|
| Revenue | US$3.49b |
| Cost of Revenue | US$2.22b |
| Gross Profit | US$1.26b |
| Other Expenses | US$778.81m |
| Earnings | US$484.98m |
Last Reported Earnings
Apr 02, 2022
Next Earnings Date
n/a
| Earnings per share (EPS) | 8.92 |
| Gross Margin | 36.24% |
| Net Profit Margin | 13.91% |
| Debt/Equity Ratio | 107.1% |
How did MIDD perform over the long term?
See historical performance and comparisonValuation
Is MIDD undervalued compared to its fair value, analyst forecasts and its price relative to the market?
Valuation Score
5/6Valuation Score 5/6
Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
PEG Ratio
Key Valuation Metric
Which metric is best to use when looking at relative valuation for MIDD?
Other financial metrics that can be useful for relative valuation.
| What is MIDD's n/a Ratio? | |
|---|---|
| n/a Ratio | 0x |
| n/a | n/a |
| Market Cap | US$7.10b |
| Key Statistics | |
|---|---|
| Enterprise Value/Revenue | 2.7x |
| Enterprise Value/EBITDA | 12.9x |
| PEG Ratio | 1.5x |
Price to Earnings Ratio vs Peers
How does MIDD's PE Ratio compare to its peers?
| MIDD PE Ratio vs Peers |
|---|
| Company | PE | Estimated Growth | Market Cap |
|---|---|---|---|
| Peer Average | 47.5x |
Price-To-Earnings vs Peers: MIDD is good value based on its Price-To-Earnings Ratio (14.6x) compared to the peer average (47.5x).
Price to Earnings Ratio vs Industry
How does MIDD's PE Ratio compare vs other companies in the U.S. Machinery Industry?
Price-To-Earnings vs Industry: MIDD is good value based on its Price-To-Earnings Ratio (14.6x) compared to the US Machinery industry average (21.7x)
Price to Earnings Ratio vs Fair Ratio
What is MIDD's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.
| Fair Ratio | |
|---|---|
| Current PE Ratio | 14.6x |
| Fair PE Ratio | 19.6x |
Price-To-Earnings vs Fair Ratio: MIDD is good value based on its Price-To-Earnings Ratio (14.6x) compared to the estimated Fair Price-To-Earnings Ratio (19.6x).
Share Price vs Fair Value
What is the Fair Price of MIDD when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.
Below Fair Value: MIDD ($130.62) is trading below our estimate of fair value ($236.27)
Significantly Below Fair Value: MIDD is trading below fair value by more than 20%.
Price to Earnings Growth Ratio
PEG Ratio: MIDD is poor value based on its PEG Ratio (1.5x)
Discover undervalued companies
Future Growth
How is Middleby forecast to perform in the next 1 to 3 years based on estimates from 8 analysts?
Future Growth Score
1/6Future Growth Score 1/6
Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE
10.0%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: MIDD's forecast earnings growth (10% per year) is above the savings rate (1.9%).
Earnings vs Market: MIDD's earnings (10% per year) are forecast to grow slower than the US market (14% per year).
High Growth Earnings: MIDD's earnings are forecast to grow, but not significantly.
Revenue vs Market: MIDD's revenue (6% per year) is forecast to grow slower than the US market (8.4% per year).
High Growth Revenue: MIDD's revenue (6% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: MIDD's Return on Equity is forecast to be low in 3 years time (17.4%).
Discover growth companies
Past Performance
How has Middleby performed over the past 5 years?
Past Performance Score
5/6Past Performance Score 5/6
Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE
5.9%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: MIDD has high quality earnings.
Growing Profit Margin: MIDD's current net profit margins (13.9%) are higher than last year (8.6%).
Past Earnings Growth Analysis
Earnings Trend: MIDD's earnings have grown by 5.9% per year over the past 5 years.
Accelerating Growth: MIDD's earnings growth over the past year (117.9%) exceeds its 5-year average (5.9% per year).
Earnings vs Industry: MIDD earnings growth over the past year (117.9%) exceeded the Machinery industry 24%.
Return on Equity
High ROE: MIDD's Return on Equity (20%) is considered low.
Discover strong past performing companies
Financial Health
How is Middleby's financial position?
Financial Health Score
2/6Financial Health Score 2/6
Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage
Financial Position Analysis
Short Term Liabilities: MIDD's short term assets ($1.8B) exceed its short term liabilities ($918.4M).
Long Term Liabilities: MIDD's short term assets ($1.8B) do not cover its long term liabilities ($3.1B).
Debt to Equity History and Analysis
Debt Level: MIDD's net debt to equity ratio (101%) is considered high.
Reducing Debt: MIDD's debt to equity ratio has increased from 55.1% to 107.1% over the past 5 years.
Debt Coverage: MIDD's debt is not well covered by operating cash flow (13.4%).
Interest Coverage: MIDD's interest payments on its debt are well covered by EBIT (10.4x coverage).
Balance Sheet
Discover healthy companies
Dividend
What is Middleby current dividend yield, its reliability and sustainability?
Dividend Score
0/6Dividend Score 0/6
Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage
Dividend Yield vs Market
Notable Dividend: Unable to evaluate MIDD's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.
High Dividend: Unable to evaluate MIDD's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.
Stability and Growth of Payments
Stable Dividend: Insufficient data to determine if MIDD's dividends per share have been stable in the past.
Growing Dividend: Insufficient data to determine if MIDD's dividend payments have been increasing.
Earnings Payout to Shareholders
Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.
Cash Payout to Shareholders
Cash Flow Coverage: Unable to calculate sustainability of dividends as MIDD has not reported any payouts.
Discover strong dividend paying companies
Management
How experienced are the management team and are they aligned to shareholders interests?
3.3yrs
Average management tenure
CEO
Tim FitzGerald (51 yo)
3.33yrs
Tenure
US$9,406,995
Compensation
Mr. Timothy J. FitzGerald, also known as Tim, has been Chief Executive Officer and Director since February 16, 2019 and served as the Chief Financial Officer of The Middleby Corporation (formerly known as...
CEO Compensation Analysis
Compensation vs Market: Tim's total compensation ($USD9.41M) is about average for companies of similar size in the US market ($USD8.44M).
Compensation vs Earnings: Tim's compensation has increased by more than 20% in the past year.
Leadership Team
Experienced Management: MIDD's management team is considered experienced (3.3 years average tenure).
Board Members
Experienced Board: MIDD's board of directors are considered experienced (6.6 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: MIDD insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
The Middleby Corporation's employee growth, exchange listings and data sources
Key Information
- Name: The Middleby Corporation
- Ticker: MIDD
- Exchange: NasdaqGS
- Founded: 1888
- Industry: Industrial Machinery
- Sector: Capital Goods
- Implied Market Cap: US$7.104b
- Shares outstanding: 54.39m
- Website: https://www.middleby.com
Number of Employees
Location
- The Middleby Corporation
- 1400 Toastmaster Drive
- Elgin
- Illinois
- 60120
- United States
Listings
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2022/06/26 00:00 |
| End of Day Share Price | 2022/06/24 00:00 |
| Earnings | 2022/04/02 |
| Annual Earnings | 2022/01/01 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.