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MIDD

Middleby NasdaqGS:MIDD Stock Report

Last Price

US$142.59

Market Cap

US$7.8b

7D

2.0%

1Y

-13.9%

Updated

21 May, 2022

Data

Company Financials +
MIDD fundamental analysis
Snowflake Score
Valuation3/6
Future Growth1/6
Past Performance5/6
Financial Health2/6
Dividends0/6

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

Summary of all time highs, changes and price drops for Middleby
Historical stock prices
Current Share PriceUS$142.59
52 Week HighUS$201.34
52 Week LowUS$127.02
Beta1.56
1 Month Change-7.47%
3 Month Change-21.96%
1 Year Change-13.89%
3 Year Change3.49%
5 Year Change11.07%
Change since IPO14,159.00%

Recent News & Updates

May 16
Does Middleby (NASDAQ:MIDD) Have A Healthy Balance Sheet?

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

MIDDUS MachineryUS Market
7D2.0%-4.1%-2.7%
1Y-13.9%-19.3%-12.9%

Return vs Industry: MIDD exceeded the US Machinery industry which returned -15.8% over the past year.

Return vs Market: MIDD underperformed the US Market which returned -12.7% over the past year.

Price Volatility

Is MIDD's price volatile compared to industry and market?
MIDD volatility
MIDD Average Weekly Movement5.8%
Machinery Industry Average Movement5.7%
Market Average Movement7.9%
10% most volatile stocks in US Market16.9%
10% least volatile stocks in US Market3.0%

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

FoundedEmployeesCEOWebsite
188810,624Tim FitzGeraldhttps://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

How do Middleby's earnings and revenue compare to its market cap?
MIDD fundamental statistics
Market CapUS$7.76b
Earnings (TTM)US$484.98m
Revenue (TTM)US$3.49b

16.0x

P/E Ratio

2.2x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
MIDD income statement (TTM)
RevenueUS$3.49b
Cost of RevenueUS$2.22b
Gross ProfitUS$1.26b
Other ExpensesUS$778.81m
EarningsUS$484.98m

Last Reported Earnings

Apr 02, 2022

Next Earnings Date

n/a

Earnings per share (EPS)8.92
Gross Margin36.24%
Net Profit Margin13.91%
Debt/Equity Ratio107.1%

How did MIDD perform over the long term?

See historical performance and comparison

Valuation

Is Middleby undervalued compared to its fair value and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • PE vs Industry

  • PE vs Market

  • PEG Ratio

  • PB vs Industry


40.9%

Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: MIDD ($142.59) is trading below our estimate of fair value ($241.3)

Significantly Below Fair Value: MIDD is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: MIDD is good value based on its PE Ratio (16x) compared to the US Machinery industry average (21.2x).

PE vs Market: MIDD is poor value based on its PE Ratio (16x) compared to the US market (15.5x).


Price to Earnings Growth Ratio

PEG Ratio: MIDD is poor value based on its PEG Ratio (2.1x)


Price to Book Ratio

PB vs Industry: MIDD is overvalued based on its PB Ratio (3.2x) compared to the US Machinery industry average (2.2x).


Future Growth

How is Middleby forecast to perform in the next 1 to 3 years based on estimates from 8 analysts?

Future Growth Score

1/6

Future Growth Score 1/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


7.6%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: MIDD's forecast earnings growth (7.6% per year) is above the savings rate (1.9%).

Earnings vs Market: MIDD's earnings (7.6% per year) are forecast to grow slower than the US market (12.5% per year).

High Growth Earnings: MIDD's earnings are forecast to grow, but not significantly.

Revenue vs Market: MIDD's revenue (5.6% per year) is forecast to grow slower than the US market (7.8% per year).

High Growth Revenue: MIDD's revenue (5.6% 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%).


Past Performance

How has Middleby performed over the past 5 years?

Past Performance Score

5/6

Past 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.


Financial Health

How is Middleby's financial position?

Financial Health Score

2/6

Financial 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


Dividend

What is Middleby current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend 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)

3.25yrs

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 ($USD9.41M) is about average for companies of similar size in the US market ($USD8.23M).

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 (6.5 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$7.755b
  • 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

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/05/21 00:00
End of Day Share Price2022/05/20 00:00
Earnings2022/04/02
Annual Earnings2022/01/01


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.