Market Cap
US$7.6b
Last Updated
2020/12/02 23:41 UTC
Data Sources
Company Financials +
Executive Summary
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. More Details
Snowflake Analysis
Mediocre balance sheet 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
Stable Share Price: MIDD is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 7% a week.
Volatility Over Time: MIDD's weekly volatility (7%) has been stable over the past year.
Market Performance
7 Day Return
0.4%
MIDD
-2.0%
US Machinery
0.7%
US Market
1 Year Return
23.9%
MIDD
19.6%
US Machinery
22.2%
US Market
Return vs Industry: MIDD exceeded the US Machinery industry which returned 20.7% over the past year.
Return vs Market: MIDD exceeded the US Market which returned 22.7% over the past year.
Shareholder returns
| MIDD | Industry | Market | |
|---|---|---|---|
| 7 Day | 0.4% | -2.0% | 0.7% |
| 30 Day | 37.2% | 10.1% | 11.8% |
| 90 Day | 43.9% | 14.2% | 8.6% |
| 1 Year | 23.9%23.9% | 22.8%19.6% | 25.0%22.2% |
| 3 Year | 8.9%8.9% | 31.1%21.6% | 49.4%39.5% |
| 5 Year | 26.3%26.3% | 130.7%104.9% | 100.2%78.1% |
Long-Term 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
3 weeks ago | Simply Wall St
The Middleby Corporation Beat Revenue Forecasts By 5.6%: Here's What Analysts Are Forecasting Next1 month ago | Simply Wall St
Should You Be Excited About The Middleby Corporation's (NASDAQ:MIDD) 15% Return On Equity?1 month ago | Simply Wall St
Middleby (NASDAQ:MIDD) Takes On Some Risk With Its Use Of DebtValuation
Is Middleby undervalued compared to its fair value and its price relative to the market?
28.67x
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: MIDD ($137.25) is trading above our estimate of fair value ($108.56)
Significantly Below Fair Value: MIDD is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: MIDD is good value based on its PE Ratio (28.7x) compared to the US Machinery industry average (29.2x).
PE vs Market: MIDD is poor value based on its PE Ratio (28.7x) compared to the US market (19.4x).
Price to Earnings Growth Ratio
PEG Ratio: MIDD is poor value based on its PEG Ratio (1.5x)
Price to Book Ratio
PB vs Industry: MIDD is overvalued based on its PB Ratio (3.8x) compared to the US Machinery industry average (2.7x).
Next Steps
Future Growth
How is Middleby forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?
18.9%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: MIDD's forecast earnings growth (18.9% per year) is above the savings rate (2.2%).
Earnings vs Market: MIDD's earnings (18.9% per year) are forecast to grow slower than the US market (21.8% per year).
High Growth Earnings: MIDD's earnings are forecast to grow, but not significantly.
Revenue vs Market: MIDD's revenue (7.1% per year) is forecast to grow slower than the US market (10.2% per year).
High Growth Revenue: MIDD's revenue (7.1% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
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?
8.1%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: MIDD has high quality earnings.
Growing Profit Margin: MIDD's current net profit margins (10.3%) are lower than last year (11.5%).
Past Earnings Growth Analysis
Earnings Trend: MIDD's earnings have grown by 8.1% per year over the past 5 years.
Accelerating Growth: MIDD's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: MIDD had negative earnings growth (-21.8%) over the past year, making it difficult to compare to the Machinery industry average (-15.4%).
Return on Equity
High ROE: MIDD's Return on Equity (13%) is considered low.
Next Steps
Financial Health
How is Middleby's financial position?
Financial Position Analysis
Short Term Liabilities: MIDD's short term assets ($1.2B) exceed its short term liabilities ($597.0M).
Long Term Liabilities: MIDD's short term assets ($1.2B) do not cover its long term liabilities ($2.4B).
Debt to Equity History and Analysis
Debt Level: MIDD's debt to equity ratio (89.3%) is considered high.
Reducing Debt: MIDD's debt to equity ratio has increased from 65.9% to 89.3% over the past 5 years.
Debt Coverage: MIDD's debt is well covered by operating cash flow (25.6%).
Interest Coverage: MIDD's interest payments on its debt are well covered by EBIT (5.4x coverage).
Balance Sheet
Next Steps
Dividend
What is Middleby current dividend yield, its reliability and sustainability?
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.
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
How experienced are the management team and are they aligned to shareholders interests?
1.8yrs
Average management tenure
CEO
Tim FitzGerald (50 yo)
1.83yrs
Tenure
US$7,198,183
Compensation
Mr. Timothy J. FitzGerald, also known as Tim, has been Chief Executive Officer and Director since February 16, 2019 and served as the Chief Financial Officer of The Middleby Corporation (formerly known as ...
CEO Compensation Analysis
Compensation vs Market: Tim's total compensation ($USD7.20M) is about average for companies of similar size in the US market ($USD6.94M).
Compensation vs Earnings: Tim's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Director | 1.83yrs | US$7.20m | 0.68% $ 52.1m | |
| Chief Financial Officer | 1.83yrs | US$1.92m | 0.026% $ 2.0m | |
| Executive VP & COO | 1.83yrs | US$4.39m | 0.14% $ 10.8m | |
| Consultant | 1.83yrs | US$9.23m | 1.19% $ 90.6m | |
| VP, Treasurer & Secretary | 1.83yrs | US$1.78m | 0.13% $ 10.2m | |
| Division President of Middleby India & Global Chief Information Officer | no data | no data | no data | |
| President of CookTek and President of Carter-Hoffmann | 1.33yrs | no data | no data | |
| President Food Processing Group | no data | US$583.49k | no data | |
| President of Blodgett Oven Company | 13.67yrs | US$497.09k | no data | |
| VP of Supply Chain & Group President of Houno A/S | 11.92yrs | no data | no data | |
| President of Carter-Hoffmann LLC | 13.5yrs | no data | no data | |
| President of Southbend Operations | 10.83yrs | no data | no data |
1.8yrs
Average Tenure
60yo
Average Age
Experienced Management: MIDD's management team is not considered experienced ( 1.8 years average tenure), which suggests a new team.
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & Director | 1.83yrs | US$7.20m | 0.68% $ 52.1m | |
| Independent Chairman of the Board | 1.83yrs | US$233.71k | 0.067% $ 5.1m | |
| Independent Director | 42.92yrs | US$233.71k | 0.031% $ 2.4m | |
| Independent Director | 5.08yrs | US$233.71k | 0.014% $ 1.1m | |
| Independent Director | 7.08yrs | US$223.71k | 0.013% $ 955.6k | |
| Independent Director | 1.33yrs | US$41.67k | 0.028% $ 2.1m | |
| Independent Director | 3.58yrs | US$218.71k | 0.013% $ 983.1k |
3.6yrs
Average Tenure
58yo
Average Age
Experienced Board: MIDD's board of directors are considered experienced (3.6 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if 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 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$7.633b
- Shares outstanding: 55.61m
- 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 a range of foodservice, food processing, and residential kitchen equipment in the United States, Canada, Asia, Europe, the...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/12/02 23:41 |
| End of Day Share Price | 2020/12/02 00:00 |
| Earnings | 2020/09/26 |
| Annual Earnings | 2019/12/28 |
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.