Market Cap
US$6.4b
Last Updated
2019/10/19 23:36 UTC
Data Sources
Company Financials +
Executive Summary
The Middleby Corporation designs, manufactures, markets, distributes, and services foodservice, food processing, and residential kitchen equipment in the United States, Canada, Asia, Europe, the Middle East, and Latin America.
Snowflake
Fundamentals
Slightly overvalued with questionable track record.
Similar Companies
Share Price & News
How has Middleby's share price performed over time and what events caused price changes?
Latest Share Price and Events
Market Performance
7 Day Return
2.2%
MIDD
2.5%
US Machinery
0.4%
US Market
1 Year Return
0.9%
MIDD
8.5%
US Machinery
6.9%
US Market
Return vs Industry: MIDD underperformed the US Machinery industry which returned 8.5% over the past year.
Return vs Market: MIDD underperformed the US Market which returned 6.9% over the past year.
Shareholder returns
| MIDD | Industry | Market | |
|---|---|---|---|
| 7 Day | 2.2% | 2.5% | 0.4% |
| 30 Day | -1.1% | 0.9% | -1.1% |
| 90 Day | -15.4% | -0.4% | -0.5% |
| 1 Year | 0.9%0.9% | 10.8%8.5% | 9.3%6.9% |
| 3 Year | 1.3%1.3% | 49.9%40.2% | 45.8%36.4% |
| 5 Year | 36.1%36.1% | 57.6%38.3% | 62.9%45.1% |
Price Volatility Vs. Market
How volatile is Middleby's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 week ago | Simply Wall St
Should You Care About The Middleby Corporation’s (NASDAQ:MIDD) Investment Potential?3 weeks ago | Simply Wall St
Should You Think About Buying The Middleby Corporation (NASDAQ:MIDD) Now?1 month ago | Simply Wall St
Does The Middleby Corporation's (NASDAQ:MIDD) P/E Ratio Signal A Buying Opportunity?Valuation
Is Middleby undervalued compared to its fair value and its price relative to the market?
10.9%
Undervalued compared to fair value
Share Price vs. Fair Value
Undervalued: MIDD ($115.74) is trading below our estimate of fair value ($129.87)
Significantly Undervalued: MIDD is trading below fair value, but not by a significant amount.
Price To Earnings Ratio
PE vs Industry: MIDD is good value based on its PE Ratio (19.6x) compared to the Machinery industry average (20.1x).
PE vs Market: MIDD is poor value based on its PE Ratio (19.6x) compared to the US market (17.6x).
Price to Earnings Growth Ratio
Low PEG Ratio: MIDD is poor value based on its PEG Ratio (1.8x)
Price to Book Ratio
PB vs Industry: MIDD is overvalued based on its PB Ratio (3.6x) compared to the US Machinery industry average (2.2x).
Next Steps
Future Growth
How is Middleby forecast to perform in the next 1 to 3 years based on estimates from 9 analysts?
11.2%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: MIDD's forecast earnings growth (11.2% per year) is above the savings rate (2.7%).
Earnings vs Market: MIDD's earnings (11.2% per year) are forecast to grow slower than the US market (14.6% per year).
High Growth Earnings: MIDD's earnings are forecast to grow, but not significantly.
Revenue vs Market: MIDD's revenue (4.3% per year) is forecast to grow slower than the US market (7.2% per year).
High Growth Revenue: MIDD's revenue (4.3% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
High Future ROE: Insufficient data to determine if MIDD's Return on Equity is forecast to be high in 3 years time
Next Steps
Past Performance
How has Middleby performed over the past 5 years?
13.0%
Historical annual earnings growth
Earnings and Revenue History
Past Earnings Growth Analysis
Earnings Trend: MIDD's earnings have grown by 13% per year over the past 5 years.
Accelerating Growth: MIDD's earnings growth over the past year (10%) is below its 5-year average (13% per year).
Earnings vs Industry: MIDD earnings growth over the past year (10%) underperformed the Machinery industry 17.5%.
Return on Equity
High ROE: MIDD's Return on Equity (18.3%) is considered low.
Return on Assets
ROA vs Industry: MIDD has a higher Return on Assets than the Machinery industry average last year.
Return on Capital Employed
ROCE Improving: MIDD's Return on Capital Employed has declined over the past 3 years.
Next Steps
Financial Health
How is Middleby's financial position?
Financial Position Analysis
Short Term Liabilities: MIDD's short term assets ($1.2B) exceeds its short term liabilities ($565.3M)
Long Term Liabilities: MIDD's short term assets (1.2B) do not cover its long term liabilities (2.5B)
Debt to Equity History and Analysis
Debt Level: MIDD's debt to equity ratio (112.4%) is considered high
Reducing Debt: MIDD's debt to equity ratio has increased from 65% to 112.4% over the past 5 years.
Debt Coverage: MIDD's debt is not well covered by operating cash flow (16%).
Interest Coverage: MIDD's interest payments on its debt are well covered by EBIT (6.7x coverage).
Balance Sheet
Inventory Level: MIDD has a high level of physical assets or inventory.
Debt Coverage by Assets: MIDD's debt is not covered by short term assets (assets are 0.6x debt).
Next Steps
Dividend
What is Middleby's current dividend yield, its reliability and sustainability?
Dividend Yield vs Market
Current dividend yield vs market & industry
Stability and Growth of Payments
Notable Dividend: Unable to evaluate MIDD's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.
High Dividend: Unable to evaluate MIDD's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.
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.
Current Payout to Shareholders
Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: No need to calculate the sustainability of MIDD's dividend in 3 years as they are not forecast to pay a notable one for the US market.
Next Steps
Management
What is the CEO of Middleby's salary, the management and board of directors tenure and is there insider trading?
0.7yrs
Average management tenure
CEO
Tim FitzGerald (49yo)
0.7yrs
Tenure
US$3,561,555
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 Middleby Corp. since May 16, 2003 until Febr ...
CEO Compensation Analysis
Compensation vs. Market: Tim has recently become CEO, making it difficult to compare their total compensation against companies of similar size in the US market.
Compensation vs Earnings: Tim's compensation has increased by more than 20% in the past year.
Management Age and Tenure
0.7yrs
Average Tenure
59.5yo
Average Age
Experienced Management: MIDD's management team is not considered experienced ( 0.7 years average tenure), which suggests a new team.
Board Age and Tenure
2.4yrs
Average Tenure
55yo
Average Age
Experienced Board: MIDD's board of directors are not considered experienced ( 2.4 years average tenure), which suggests a new board.
Insider Trading
Insider Buying: MIDD insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
| Entity | Individual |
| Role | Member of the Board of Directors Director |
| Shares | 455 |
| Max Price | US$111.21 |
| Entity | Individual |
| Role | Member of the Board of Directors Director |
| Shares | 450 |
| Max Price | US$113.85 |
| Entity | Individual |
| Role | Member of the Board of Directors Independent Director |
| Shares | 100 |
| Max Price | US$135.00 |
| Entity | Individual |
| Role | Member of the Board of Directors Independent Director |
| Shares | 2,000 |
| Max Price | US$126.37 |
| Entity | Individual |
| Role | Member of the Board of Directors Independent Director |
| Shares | 300 |
| Max Price | US$124.18 |
Ownership Breakdown
Management Team
Selim Bassoul (62yo)
Consultant
- Tenure: 0.7yrs
- Compensation: US$1.55m
Tim FitzGerald (49yo)
CEO & Director
- Tenure: 0.7yrs
- Compensation: US$3.56m
Magdy Albert (67yo)
President Food Processing Group
- Tenure: 0yrs
- Compensation: US$583.49k
Martin Lindsay (54yo)
VP, Treasurer & Secretary
- Tenure: 17.7yrs
- Compensation: US$778.21k
David Brewer (62yo)
Executive VP & COO
- Tenure: 0.7yrs
- Compensation: US$1.51m
Gary Mick (57yo)
President of Blodgett Oven Company
- Tenure: 12.5yrs
- Compensation: US$497.09k
Ousama Sidani (62yo)
VP of Supply Chain & Group President of Houno A/S
- Tenure: 10.8yrs
Partha Biswas
Division President of Middleby India & Global Chief Information Officer
- Tenure: 0yrs
Bryan Mittelman (48yo)
Chief Financial Officer
- Tenure: 0.7yrs
David Abi
President of CookTek and President of Carter-Hoffmann
- Tenure: 0.2yrs
Board Members
Gordon O'Brien (53yo)
Independent Chairman of the Board
- Tenure: 0.7yrs
- Compensation: US$219.97k
John Miller (78yo)
Independent Director
- Tenure: 41.8yrs
- Compensation: US$219.97k
Cathy McCarthy (71yo)
Independent Director
- Tenure: 3.9yrs
- Compensation: US$219.97k
Tim FitzGerald (49yo)
CEO & Director
- Tenure: 0.7yrs
- Compensation: US$3.56m
Sarah Chapin (57yo)
Independent Director
- Tenure: 5.9yrs
- Compensation: US$209.97k
Robert Nerbonne
Director
- Tenure: 0.2yrs
Nassem Ziyad (53yo)
Independent Director
- Tenure: 2.4yrs
- Compensation: US$204.97k
Company Information
The Middleby Corporation's company bio, 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
- Market Cap: US$6.443b
- Shares outstanding: 55.67m
- Website: https://www.middleby.com
Number of Employees
Location
- The Middleby Corporation
- 1400 Toastmaster Drive
- Elgin
- Illinois
- 60120
- United States
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| MIDD | NasdaqGS (Nasdaq Global Select) | Yes | Common Stock | US | USD | Aug 1987 |
| MBY | DB (Deutsche Boerse AG) | Yes | Common Stock | DE | EUR | Aug 1987 |
| 0K1G | LSE (London Stock Exchange) | Yes | Common Stock | GB | USD | Aug 1987 |
Biography
The Middleby Corporation designs, manufactures, markets, distributes, and services foodservice, food processing, and residential kitchen equipment in the United States, Canada, Asia, Europe, the Middle Eas ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2019/10/19 23:36 |
| End of Day Share Price | 2019/10/18 00:00 |
| Earnings | 2019/06/29 |
| Annual Earnings | 2018/12/29 |
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.