A Business at a Glance
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The Middleby Corporation, a Delaware corporation (“Middleby” or the “company”), through its operating subsidiary Middleby Marshall Inc., a Delaware corporation (“Middleby Marshall”) and its subsidiaries, is a leader in the design, manufacture, marketing, distribution, and service of a broad line of (i) foodservice equipment, integrated IoT solutions and universal controllers used in all types of commercial restaurants and institutional kitchens and (ii) food preparation, cooking, baking, chilling and packaging equipment for food processing operations. Founded in 1888 as a manufacturer of baking ovens, Middleby Marshall Oven Company was acquired in 1983 by TMC Industries Ltd., a publicly traded company that changed its name in 1985 to The Middleby Corporation.
| Segment | 2021 | 2022 | 2023 | 2024 | 2026 | % of Total |
|---|---|---|---|---|---|---|
Commercial Foodservice Equipment Group | $1.51B | $2.41B | $2.52B | $2.42B | $2.35B | 45% |
United States And Canada | $1.07B | $1.77B | $1.83B | $1.71B | $1.68B | 32% |
Food Processing Group | $437M | $590M | $757M | $770M | $850M | 16% |
Europe And Middle East | $247M | $364M | $370M | $397M | $372M | 7% |
Residential Kitchen | $566M | $1.05B | $795M | $725M | — | — |
| Metric | TTM | FY2026 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 3.2B | 3.2B | 3.2B | 3.2B | 4.0B | 2.5B |
| Net Income | -278M | -278M | 428M | 401M | 437M | 207M |
| EPS | $-5.32 | $-5.32 | $7.90 | $7.41 | $7.95 | $3.76 |
| Free Cash Flow | 559M | 559M | 650M | 570M | 265M | 490M |
| ROIC | - | - | 6.7% | 6.9% | 5.9% | 3.2% |
| Gross Margin | 39.1% | 39.1% | 39.7% | 39.6% | 35.9% | 35.1% |
| Debt/Equity | 0.00 | - | 1.12 | 1.30 | 1.73 | 2.77 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 575M | 575M | 644M | 652M | 640M | 324M |
| Operating Margin | 18.0% | 18.0% | 20.4% | 20.1% | 15.9% | 12.9% |
| ROE | 0.0% | - | 12.4% | 13.3% | 16.5% | 9.3% |
| Shares Outstanding | 52M | 52M | 54M | 54M | 55M | 55M |
MIDDLEBY Corp passes 4 of 9 quality checks, suggesting mixed fundamentals.
On a free-cash-flow basis, the stock trades at 12.1x vs a median of 19.5x. The company's 5-year average ROIC is 5.7% with a gross margin of 37.9%. Total shareholder yield (buybacks) is 9.7%. At current prices, the estimated annualized return to fair value is +7.8%.
MIDDLEBY Corp (MIDD) has a 5-year average return on invested capital (ROIC) of 5.7%. This is below average and may indicate limited pricing power.
MIDDLEBY Corp (MIDD) has a market capitalization of $7.4B. It is classified as a mid-cap stock.
MIDDLEBY Corp (MIDD) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 9.72%.
MIDDLEBY Corp (MIDD) operates in the Refrigeration & Service Industry Machinery industry, within the Industrials sector.
MIDDLEBY Corp (MIDD) reported annual revenue of $3.2 billion in its most recent fiscal year, based on SEC EDGAR filings.
MIDDLEBY Corp (MIDD) has a net profit margin of -8.7%. The company is currently unprofitable.
MIDDLEBY Corp (MIDD) generated $559 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
MIDDLEBY Corp (MIDD) reported earnings per share (EPS) of $-5.32 in its most recent fiscal year.
MIDDLEBY Corp (MIDD) has a 5-year average gross margin of 37.9%. This indicates decent pricing power.
The Ledger Terminal provides 15 years of financial data for MIDDLEBY Corp (MIDD), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
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