The Middleby Corporation

NasdaqGS:MIDD Stock Report

Mkt Cap: US$8.3b

We’ve recently updated our valuation analysis.

Middleby Valuation

Is MIDD undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

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.

MIDD key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue2.8x
Enterprise Value/EBITDA13.8x
PEG Ratio2.2x

Price to Earnings Ratio vs Peers

How does MIDD's PE Ratio compare to its peers?

The above table shows the PE ratio for MIDD vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average21x
PNR Pentair
15.8x10.0%US$8.5b
DCI Donaldson Company
21.9x7.7%US$7.5b
LECO Lincoln Electric Holdings
21.5x6.2%US$9.4b
GGG Graco
24.9x8.0%US$11.3b
MIDD Middleby
20.5x9.5%US$8.3b

Price-To-Earnings vs Peers: MIDD is good value based on its Price-To-Earnings Ratio (20.5x) compared to the peer average (21x).


Price to Earnings Ratio vs Industry

How does MIDD's PE Ratio compare vs other companies in the US Machinery Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a11.0%
n/an/an/a

Price-To-Earnings vs Industry: MIDD is good value based on its Price-To-Earnings Ratio (20.5x) compared to the US Machinery industry average (23.3x)


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.

MIDD PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio20.5x
Fair PE Ratio19.6x

Price-To-Earnings vs Fair Ratio: MIDD is expensive based on its Price-To-Earnings Ratio (20.5x) 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 ($154.36) is trading below our estimate of fair value ($185.6)

Significantly Below Fair Value: MIDD is trading below fair value, but not by a significant amount.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst MIDD forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$154.36
US$168.30
+9.0%
6.1%US$177.00US$140.00n/a10
Jan ’24US$133.90
US$163.70
+22.3%
9.1%US$175.00US$130.00n/a10
Dec ’23US$145.25
US$166.10
+14.4%
9.6%US$180.00US$130.00n/a10
Nov ’23US$141.39
US$172.78
+22.2%
7.7%US$190.00US$145.00n/a9
Oct ’23US$128.17
US$175.22
+36.7%
5.4%US$190.00US$155.00n/a9
Sep ’23US$144.19
US$175.22
+21.5%
5.4%US$190.00US$155.00n/a9
Aug ’23US$142.08
US$167.75
+18.1%
8.1%US$180.00US$135.00n/a8
Jul ’23US$126.67
US$190.00
+50.0%
11.0%US$225.00US$160.00n/a8
Jun ’23US$147.48
US$190.00
+28.8%
11.0%US$225.00US$160.00n/a8
May ’23US$153.89
US$212.88
+38.3%
5.9%US$225.00US$190.00n/a8
Apr ’23US$161.49
US$220.50
+36.5%
6.4%US$250.00US$195.00n/a8
Mar ’23US$174.28
US$221.71
+27.2%
6.4%US$250.00US$198.00n/a7
Feb ’23US$186.75
US$225.67
+20.8%
4.9%US$250.00US$217.00n/a6
Jan ’23US$196.76
US$218.88
+11.2%
6.7%US$250.00US$194.00US$133.908
Dec ’22US$171.99
US$217.00
+26.2%
7.4%US$250.00US$194.00US$145.258
Nov ’22US$186.16
US$214.50
+15.2%
7.8%US$250.00US$194.00US$141.398
Oct ’22US$173.84
US$214.00
+23.1%
7.4%US$250.00US$194.00US$128.179
Sep ’22US$182.95
US$214.00
+17.0%
7.4%US$250.00US$194.00US$144.199
Aug ’22US$191.49
US$214.00
+11.8%
7.4%US$250.00US$194.00US$142.089
Jul ’22US$172.95
US$210.44
+21.7%
9.2%US$250.00US$175.00US$126.679
Jun ’22US$165.65
US$212.38
+28.2%
9.3%US$250.00US$175.00US$147.488
May ’22US$181.32
US$206.13
+13.7%
7.7%US$225.00US$169.00US$153.898
Apr ’22US$165.49
US$193.14
+16.7%
10.4%US$225.00US$155.00US$161.497
Mar ’22US$159.32
US$163.86
+2.8%
12.9%US$192.00US$140.00US$174.287
Feb ’22US$138.36
US$154.33
+11.5%
5.2%US$165.00US$140.00US$186.756
Jan ’22US$128.92
US$142.33
+10.4%
8.9%US$155.00US$120.00US$196.766

Analyst Forecast: Target price is less than 20% higher than the current share price.


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