Middleby (MIDD) Financials

$147.89 -2.68 (-1.78%)

Closing price 05/28/2025 04:00 PM Eastern

Extended Trading

$148.48 +0.59 (+0.40%)

As of 05/28/2025 07:17 PM Eastern

Annual Income Statements for Middleby

This table shows Middleby's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/28/2024	12/30/2023	12/31/2022	1/1/2022	1/2/2021	12/28/2019	12/29/2018	12/30/2017	12/31/2016	1/2/2016
Net Income / (Loss) Attributable to Common Shareholders	428	401	437	488	207	352	317	298	284	192
Consolidated Net Income / (Loss)	428	401	437	488	207	352	317	298	284	192
Net Income / (Loss) Continuing Operations	428	401	437	488	207	352	317	298	284	192
Total Pre-Tax Income	577	519	564	620	268	463	424	384	421	281
Total Operating Income	656	635	640	630	324	514	446	379	419	303
Total Gross Profit	1,470	1,534	1,447	1,195	882	1,103	1,004	913	901	707
Total Revenue	3,875	4,037	4,033	3,251	2,513	2,959	2,723	2,336	2,268	1,827
Operating Revenue	3,875	4,037	4,033	3,251	2,513	2,959	2,723	2,336	2,268	1,827
Total Cost of Revenue	2,405	2,503	2,586	2,056	1,631	1,856	1,719	1,423	1,367	1,120
Operating Cost of Revenue	2,405	2,503	2,586	2,056	1,631	1,856	1,719	1,423	1,367	1,120
Total Operating Expenses	814	899	807	565	558	589	558	534	482	404
Selling, General & Admin Expense	763	807	797	668	532	594	539	468	472	375
Depreciation Expense	0.00	0.00	0.00	-	-	-	-	-	-	-
Amortization Expense	0.00	0.00	0.00	-	-	-	-	-	-	-
Other Operating Expenses / (Income)	0.00	0.00	0.00	-	-	-	-	-	-	-
Impairment Charge	39	78	0.00	0.00	15	0.00	0.00	58	0.00	0.00
Restructuring Charge	14	14	9.72	7.66	12	10	19	20	11	29
Other Special Charges / (Income)	-1.14	0.00	0.00	-111	-1.98	-15	0.00	-12	0.00	0.00
Total Other Income / (Expense), net	-79	-115	-75	-10	-56	-51	-22	4.92	2.29	-21
Interest Expense	92	120	89	57	79	53	59	26	24	17
Other Income / (Expense), net	13	4.86	14	47	22	1.46	36	31	26	-4.47
Income Tax Expense	149	118	128	131	61	110	106	85	137	90
Preferred Stock Dividends Declared	0.00	0.00	0.00	-	-	-	-	-	-	-
Other Adjustments to Net Income / (Loss) Attributable to Common Shareholders)	0.00	0.00	0.00	-	-	-	-	-	-	-
Basic Earnings per Share	$7.97	$7.48	$8.07	$8.85	$3.76	$6.33	$5.71	$5.26	$4.98	$3.36
Weighted Average Basic Shares Outstanding	53.74M	53.58M	54.10M	55.22M	55.09M	55.65M	55.58M	56.72M	57.03M	56.95M
Diluted Earnings per Share	$7.90	$7.41	$7.95	$8.62	$3.76	$6.33	$5.70	$5.26	$4.98	$3.36
Weighted Average Diluted Shares Outstanding	54.21M	54.09M	54.95M	56.67M	55.14M	55.66M	55.60M	56.72M	57.09M	56.97M
Weighted Average Basic & Diluted Shares Outstanding	53.62M	53.60M	53.61M	54.66M	55.64M	56.19M	56.30M	56.70M	57.10M	57M

This table shows Middleby's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/29/2025	12/28/2024	9/28/2024	6/29/2024	3/30/2024	12/30/2023	9/30/2023	7/1/2023	4/1/2023	12/31/2022	10/1/2022
Net Income / (Loss) Attributable to Common Shareholders	92	112	114	115	87	76	109	117	99	133	104
Consolidated Net Income / (Loss)	92	112	114	115	87	76	109	117	99	133	104
Net Income / (Loss) Continuing Operations	92	112	114	115	87	76	109	117	99	133	104
Total Pre-Tax Income	121	153	155	155	115	87	144	156	132	162	139
Total Operating Income	141	170	173	176	137	115	174	185	161	188	162
Total Gross Profit	346	389	355	380	346	387	375	393	379	390	365
Total Revenue	907	1,014	943	992	927	1,009	981	1,040	1,007	1,032	993
Operating Revenue	907	1,014	943	992	927	1,009	981	1,040	1,007	1,032	993
Total Cost of Revenue	561	625	587	612	581	622	605	647	629	642	628
Operating Cost of Revenue	561	625	587	612	581	622	605	647	629	642	628
Total Operating Expenses	205	219	182	204	209	272	201	208	218	202	204
Selling, General & Admin Expense	203	178	179	199	206	192	196	204	215	200	201
Restructuring Charge	2.73	3.14	2.52	5.35	3.18	2.44	4.45	4.94	2.31	1.49	2.33
Total Other Income / (Expense), net	-19	-17	-19	-21	-22	-28	-30	-29	-29	-26	-23
Interest Expense	18	20	21	25	26	28	31	32	29	26	24
Other Income / (Expense), net	-0.78	3.11	2.64	3.63	3.98	0.57	1.03	2.90	0.36	0.02	1.42
Income Tax Expense	29	41	41	39	28	11	36	39	33	29	35
Basic Earnings per Share	$1.72	$2.09	$2.12	$2.15	$1.61	$1.42	$2.03	$2.18	$1.85	$2.46	$1.94
Weighted Average Basic Shares Outstanding	53.59M	53.74M	53.77M	53.77M	53.65M	53.58M	53.59M	53.53M	53.59M	54.10M	53.87M
Diluted Earnings per Share	$1.69	$2.07	$2.11	$2.13	$1.59	$1.42	$2.01	$2.16	$1.82	$2.44	$1.92
Weighted Average Diluted Shares Outstanding	54.62M	54.21M	54.04M	54.07M	54.39M	54.09M	54.16M	54.04M	54.38M	54.95M	54.38M
Weighted Average Basic & Diluted Shares Outstanding	53.48M	53.62M	53.79M	53.77M	53.77M	53.60M	53.60M	53.60M	53.52M	53.61M	53.88M

This table details how cash moves in and out of Middleby's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/28/2024	12/30/2023	12/31/2022	1/1/2022	1/2/2021	12/28/2019	12/29/2018	12/30/2017	12/31/2016	1/2/2016
Net Change in Cash & Equivalents	455	82	-8.14	-83	166	23	-18	21	13	12
Net Cash From Operating Activities	687	629	333	423	525	377	369	304	294	250
Net Cash From Continuing Operating Activities	687	629	333	423	525	377	369	304	294	250
Net Income / (Loss) Continuing Operations	428	401	437	488	207	352	317	298	284	192
Consolidated Net Income / (Loss)	428	401	437	488	207	352	317	298	284	192
Depreciation Expense	127	133	138	125	111	103	97	70	58	54
Non-Cash Adjustments To Reconcile Net Income	59	122	3.56	-13	7.64	-21	-29	24	28	16
Changes in Operating Assets and Liabilities, net	72	-26	-246	-177	191	-58	-16	-87	-76	-12
Net Cash From Investing Activities	-159	-156	-348	-1,009	-107	-328	-1,239	-345	-236	-371
Net Cash From Continuing Investing Activities	-159	-156	-348	-1,009	-107	-328	-1,239	-345	-236	-371
Purchase of Property, Plant & Equipment	-49	-85	-67	-47	-35	-47	-36	-54	-25	-22
Acquisitions	-112	-71	-281	-969	-86	-281	-1,203	-305	-211	-349
Sale of Property, Plant & Equipment	2.51	0.00	0.00	6.29	14	0.00	0.00	14	0.00	0.00
Net Cash From Financing Activities	-74	-391	7.63	503	-252	-25	856	56	-41	137
Net Cash From Continuing Financing Activities	-74	-391	7.63	503	-252	-25	856	56	-41	137
Repayment of Debt	-35	-949	-1,580	-1,147	-3,355	-563	-755	-463	-468	-6.32
Repurchase of Common Equity	-35	-75	-265	-29	-86	-6.14	0.00	-240	-4.42	-4.84
Issuance of Debt	0.00	640	1,870	1,739	3,297	543	1,611	759	433	146
Other Financing Activities, net	-3.88	-7.70	-18	-60	-108	-	0.00	-	-1.30	2.41

This table details how cash moves in and out of Middleby's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/29/2025	12/28/2024	9/28/2024	6/29/2024	3/30/2024	12/30/2023	9/30/2023	7/1/2023	4/1/2023	12/31/2022	10/1/2022
Net Change in Cash & Equivalents	49	97	145	118	94	74	15	1.27	-7.83	3.69	-12
Net Cash From Operating Activities	141	240	157	150	141	256	219	62	92	159	84
Net Cash From Continuing Operating Activities	141	240	157	150	141	256	219	62	92	159	84
Net Income / (Loss) Continuing Operations	92	112	114	115	87	76	109	117	99	133	104
Consolidated Net Income / (Loss)	92	112	114	115	87	76	109	117	99	133	104
Depreciation Expense	32	32	31	32	32	34	33	31	35	31	31
Non-Cash Adjustments To Reconcile Net Income	1.02	40	4.79	3.93	11	94	6.10	4.69	17	26	-9.66
Changes in Operating Assets and Liabilities, net	16	55	6.93	-1.45	11	52	71	-90	-59	-31	-42
Net Cash From Investing Activities	-35	-115	-14	-14	-16	-17	-54	-49	-36	-90	-151
Net Cash From Continuing Investing Activities	-35	-115	-14	-14	-16	-17	-54	-49	-36	-90	-151
Purchase of Property, Plant & Equipment	-34	-13	-11	-11	-14	-16	-21	-23	-25	-16	-19
Acquisitions	-1.11	-104	-2.19	-3.29	-2.35	-0.98	-33	-26	-11	-74	-132
Net Cash From Financing Activities	-57	-28	-3.11	-14	-29	-165	-151	-12	-63	-65	55
Net Cash From Continuing Financing Activities	-57	-28	-3.11	-14	-29	-165	-151	-12	-63	-65	55
Repayment of Debt	-11	-12	-0.55	-12	-12	-237	-325	-197	-191	-195	-959
Repurchase of Common Equity	-43	-16	-0.29	-0.98	-17	-0.02	-	-6.90	-68	-25	-0.07
Issuance of Debt	0.00	-	-	-	0.00	75	175	195	195	155	1,015
Other Financing Activities, net	-2.89	-	-2.28	-1.60	0.00	-3.62	-1.02	-3.06	0.00	-	-0.92

This table presents Middleby's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/28/2024	12/30/2023	12/31/2022	1/1/2022	1/2/2021	12/28/2019	12/29/2018	12/30/2017	12/31/2016	1/2/2016
Total Assets	7,283	6,907	6,875	6,384	5,202	5,002	4,550	3,340	2,917	2,761
Total Current Assets	2,330	1,966	2,006	1,707	1,270	1,209	1,062	932	812	795
Cash & Equivalents	690	247	162	180	268	95	72	90	68	56
Accounts Receivable	643	645	631	577	363	448	399	328	326	283
Inventories, net	842	936	1,078	837	540	586	522	425	368	354
Prepaid Expenses	132	113	126	92	81	61	51	55	43	40
Current Deferred & Refundable Income Taxes	24	25	9.49	20	18	20	18	34	6.40	63
Plant, Property, & Equipment, net	526	511	444	381	344	352	315	282	222	200
Total Noncurrent Assets	4,427	4,430	4,425	4,296	3,587	3,441	3,174	2,126	1,884	1,778
Goodwill	2,518	2,486	2,412	2,243	1,934	1,850	1,743	1,265	1,093	983
Intangible Assets	1,611	1,693	1,794	1,875	1,450	1,443	1,361	780	696	749
Noncurrent Deferred & Refundable Income Taxes	6.28	7.95	6.74	33	76	37	32	45	52	23
Employee Benefit Assets	91	39	0.00	-	-	-	-	-	-	-
Other Noncurrent Operating Assets	200	204	213	143	127	111	37	36	43	22
Total Liabilities & Shareholders' Equity	7,283	6,907	6,875	6,384	5,202	5,002	4,550	3,340	2,917	2,761
Total Liabilities	3,645	3,657	4,077	3,889	3,226	3,055	2,885	1,979	1,652	1,594
Total Current Liabilities	829	851	988	915	700	593	559	474	488	510
Short-Term Debt	44	45	46	27	23	2.89	3.21	5.15	5.88	32
Accounts Payable	209	227	271	305	183	174	188	146	147	158
Accrued Expenses	576	579	671	583	495	417	367	322	336	320
Total Noncurrent Liabilities	2,815	2,806	3,089	2,974	2,526	2,462	2,326	1,505	1,163	1,084
Long-Term Debt	2,351	2,380	2,677	2,387	1,707	1,870	1,889	1,024	726	734
Noncurrent Deferred & Payable Income Tax Liabilities	252	216	220	187	147	134	114	88	78	113
Noncurrent Employee Benefit Liabilities	9.57	12	15	220	470	289	253	335	323	207
Other Noncurrent Operating Liabilities	203	197	177	181	202	169	70	59	36	30
Total Equity & Noncontrolling Interests	3,638	3,250	2,798	2,494	1,977	1,947	1,665	1,361	1,265	1,167
Total Preferred & Common Equity	3,638	3,250	2,798	2,494	1,977	1,947	1,665	1,361	1,265	1,167
Total Common Equity	3,638	3,250	2,798	2,494	1,977	1,947	1,665	1,361	1,265	1,167
Common Stock	520	479	409	357	433	388	378	375	355	329
Retained Earnings	4,328	3,900	3,499	3,062	2,569	2,361	2,009	1,698	1,399	1,115
Treasury Stock	-941	-906	-831	-566	-537	-451	-445	-445	-205	-201
Accumulated Other Comprehensive Income / (Loss)	-269	-223	-278	-359	-488	-351	-276	-266	-284	-76

This table presents Middleby's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	3/29/2025	9/28/2024	6/29/2024	3/30/2024	9/30/2023	7/1/2023	4/1/2023	10/1/2022
Total Assets	7,401	7,201	7,026	6,930	6,923	6,985	6,956	6,672
Total Current Assets	2,414	2,292	2,143	2,022	1,961	2,036	2,061	1,951
Cash & Equivalents	745	606	459	341	167	157	157	145
Accounts Receivable	646	615	625	605	633	643	653	594
Inventories, net	878	906	920	944	1,015	1,083	1,116	1,063
Prepaid Expenses	131	134	126	116	131	132	124	121
Current Deferred & Refundable Income Taxes	14	30	14	16	14	21	11	28
Plant, Property, & Equipment, net	551	511	505	508	499	483	462	424
Total Noncurrent Assets	4,437	4,399	4,378	4,400	4,463	4,465	4,434	4,297
Goodwill	2,543	2,507	2,472	2,473	2,452	2,452	2,429	2,287
Intangible Assets	1,606	1,651	1,651	1,669	1,776	1,791	1,791	1,782
Noncurrent Deferred & Refundable Income Taxes	6.42	6.92	6.81	8.03	8.88	8.28	7.04	22
Employee Benefit Assets	96	55	47	43	-	-	-	-
Other Noncurrent Operating Assets	184	179	201	207	226	215	207	206
Total Liabilities & Shareholders' Equity	7,401	7,201	7,026	6,930	6,923	6,985	6,956	6,672
Total Liabilities	3,671	3,608	3,604	3,619	3,827	3,985	4,094	4,173
Total Current Liabilities	886	815	857	841	864	878	990	938
Short-Term Debt	44	44	44	45	44	44	44	45
Accounts Payable	231	215	239	233	224	233	282	261
Accrued Expenses	611	556	574	563	596	601	664	632
Total Noncurrent Liabilities	2,786	2,793	2,747	2,778	2,963	3,107	3,104	3,236
Long-Term Debt	2,341	2,361	2,360	2,370	2,536	2,688	2,688	2,693
Noncurrent Deferred & Payable Income Tax Liabilities	248	241	194	208	214	216	218	220
Noncurrent Employee Benefit Liabilities	9.38	12	12	12	5.42	8.48	12	154
Other Noncurrent Operating Liabilities	187	179	182	188	208	195	185	168
Total Equity & Noncontrolling Interests	3,730	3,593	3,422	3,311	3,095	3,000	2,862	2,499
Total Preferred & Common Equity	3,730	3,593	3,422	3,311	3,095	3,000	2,862	2,499
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	3,730	3,593	3,422	3,311	3,095	3,000	2,862	2,499
Common Stock	523	510	501	493	464	444	426	393
Retained Earnings	4,421	4,216	4,102	3,986	3,823	3,715	3,598	3,366
Treasury Stock	-983	-924	-924	-923	-906	-906	-899	-806
Accumulated Other Comprehensive Income / (Loss)	-230	-208	-257	-245	-286	-254	-263	-454

This table displays calculated financial ratios and metrics derived from Middleby's official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/28/2024	12/30/2023	12/31/2022	1/1/2022	1/2/2021	12/28/2019	12/29/2018	12/30/2017	12/31/2016	1/2/2016
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-4.00%	0.09%	24.06%	29.35%	-15.08%	8.69%	16.59%	2.98%	24.16%	11.61%
EBITDA Growth	3.16%	-2.42%	-1.30%	72.39%	-24.84%	6.81%	20.91%	-4.79%	42.93%	4.32%
EBIT Growth	4.66%	-2.09%	-3.44%	95.19%	-32.75%	6.89%	17.76%	-8.01%	49.32%	0.59%
NOPAT Growth	-0.62%	-0.95%	-0.41%	98.00%	-35.90%	17.20%	13.48%	4.12%	37.07%	-0.30%
Net Income Growth	6.87%	-8.17%	-10.63%	135.65%	-41.15%	11.06%	6.38%	4.89%	48.33%	-0.88%
EPS Growth	6.61%	-6.79%	-7.77%	129.26%	-40.60%	11.05%	8.37%	5.62%	48.21%	-1.18%
Operating Cash Flow Growth	9.23%	89.08%	-21.46%	-19.32%	39.04%	2.31%	21.17%	3.52%	17.84%	6.72%
Free Cash Flow Firm Growth	35.69%	411.17%	82.97%	-247.40%	255.14%	117.80%	-1,003.97%	-131.80%	304.35%	-773.54%
Invested Capital Growth	-1.54%	1.30%	13.32%	37.52%	-7.71%	6.88%	51.52%	19.25%	2.13%	20.77%
Revenue Q/Q Growth	0.14%	-0.57%	-13.92%	41.58%	-2.27%	1.06%	4.76%	1.57%	2.82%	5.77%
EBITDA Q/Q Growth	8.98%	-8.37%	-9.83%	30.58%	-6.67%	-3.50%	18.32%	-9.13%	9.44%	1.37%
EBIT Q/Q Growth	11.10%	-10.23%	-11.26%	36.83%	-10.78%	-3.34%	19.73%	-11.81%	12.56%	-1.97%
NOPAT Q/Q Growth	5.57%	-10.21%	11.22%	6.72%	-15.06%	3.69%	8.49%	2.73%	5.92%	-1.30%
Net Income Q/Q Growth	9.18%	-12.43%	-69.99%	179.92%	-21.61%	4.19%	6.61%	-1.89%	12.09%	-0.76%
EPS Q/Q Growth	8.97%	-12.10%	8.61%	11.23%	-21.34%	4.28%	6.34%	-0.94%	12.67%	-1.75%
Operating Cash Flow Q/Q Growth	-2.27%	18.15%	32.59%	-23.66%	13.13%	8.89%	4.92%	-6.00%	14.39%	5.28%
Free Cash Flow Firm Q/Q Growth	-1.16%	225.68%	81.01%	-557.16%	41.52%	44.62%	11.98%	-134.42%	1,528.73%	35.84%
Invested Capital Q/Q Growth	-0.90%	-1.46%	5.23%	20.16%	-5.63%	-0.07%	0.87%	5.50%	-8.93%	2.98%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	37.94%	38.00%	35.87%	36.76%	35.10%	37.29%	36.88%	39.08%	39.74%	38.68%
EBITDA Margin	20.56%	19.13%	19.63%	24.67%	18.51%	20.91%	21.28%	20.52%	22.20%	19.28%
Operating Margin	16.93%	15.73%	15.86%	19.38%	12.91%	17.37%	16.38%	16.21%	18.48%	16.57%
EBIT Margin	17.28%	15.85%	16.20%	20.82%	13.79%	17.42%	17.71%	17.53%	19.63%	16.32%
Profit (Net Income) Margin	11.06%	9.93%	10.83%	15.03%	8.25%	11.90%	11.65%	12.76%	12.53%	10.49%
Tax Burden Percent	74.21%	77.19%	77.35%	78.85%	77.33%	76.14%	74.89%	77.73%	67.46%	68.15%
Interest Burden Percent	86.23%	81.19%	86.38%	91.55%	77.32%	89.74%	87.82%	93.66%	94.64%	94.31%
Effective Tax Rate	25.79%	22.82%	22.65%	21.15%	22.67%	23.86%	25.11%	22.27%	32.54%	31.85%
Return on Invested Capital (ROIC)	9.04%	9.09%	9.81%	12.17%	7.00%	10.86%	11.54%	13.92%	14.81%	11.95%
ROIC Less NNEP Spread (ROIC-NNEP)	6.03%	5.32%	7.38%	11.72%	4.31%	8.68%	10.33%	14.39%	15.03%	9.66%
Return on Net Nonoperating Assets (RNNOA)	3.40%	4.17%	6.69%	9.69%	3.56%	8.65%	9.42%	8.78%	8.56%	5.69%
Return on Equity (ROE)	12.44%	13.26%	16.50%	21.85%	10.57%	19.50%	20.96%	22.70%	23.37%	17.63%
Cash Return on Invested Capital (CROIC)	10.59%	7.80%	-2.68%	-19.43%	15.03%	4.20%	-29.43%	-3.65%	12.70%	-6.87%
Operating Return on Assets (OROA)	9.44%	9.28%	9.86%	11.68%	6.79%	10.79%	12.23%	13.09%	15.68%	12.35%
Return on Assets (ROA)	6.04%	5.82%	6.59%	8.43%	4.06%	7.38%	8.04%	9.53%	10.01%	7.94%
Return on Common Equity (ROCE)	12.44%	13.26%	16.50%	21.85%	10.57%	19.50%	20.96%	22.70%	23.37%	17.63%
Return on Equity Simple (ROE_SIMPLE)	11.78%	12.34%	15.60%	19.58%	10.49%	18.09%	19.05%	21.90%	22.46%	16.42%
Net Operating Profit after Tax (NOPAT)	487	490	495	497	251	391	334	294	283	206
NOPAT Margin	12.57%	12.14%	12.27%	15.28%	9.98%	13.23%	12.27%	12.60%	12.46%	11.29%
Net Nonoperating Expense Percent (NNEP)	3.01%	3.76%	2.43%	0.45%	2.69%	2.18%	1.22%	-0.48%	-0.22%	2.28%
Return On Investment Capital (ROIC_SIMPLE)	8.07%	8.63%	8.96%	-	-	-	-	-	-	-
Cost of Revenue to Revenue	62.06%	62.00%	64.13%	63.24%	64.90%	62.71%	63.12%	60.92%	60.26%	61.32%
SG&A Expenses to Revenue	19.68%	19.99%	19.77%	20.55%	21.16%	20.07%	19.79%	20.05%	20.80%	20.54%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	21.01%	22.28%	20.01%	17.38%	22.19%	19.92%	20.50%	22.87%	21.26%	22.11%
Earnings before Interest and Taxes (EBIT)	670	640	653	677	347	516	482	410	445	298
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	797	772	791	802	465	619	579	479	503	352
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.02	2.43	2.58	4.39	3.63	3.16	3.40	5.54	5.86	5.30
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	1.90	1.95	1.79	3.37	2.85	2.08	2.08	3.23	3.27	3.38
Price to Earnings (P/E)	17.15	19.68	16.53	22.41	34.59	17.49	17.86	25.31	26.08	32.27
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	5.83%	5.08%	6.05%	4.46%	2.89%	5.72%	5.60%	3.95%	3.83%	3.10%
Enterprise Value to Invested Capital (EV/IC)	1.69	1.85	1.82	2.79	2.51	2.13	2.15	3.69	4.19	3.65
Enterprise Value to Revenue (EV/Rev)	2.34	2.49	2.42	4.05	3.43	2.68	2.75	3.63	3.56	3.77
Enterprise Value to EBITDA (EV/EBITDA)	11.36	13.03	12.35	16.43	18.55	12.83	12.92	17.70	16.04	19.57
Enterprise Value to EBIT (EV/EBIT)	13.52	15.74	14.96	19.48	24.90	15.40	15.52	20.72	18.14	23.12
Enterprise Value to NOPAT (EV/NOPAT)	18.59	20.54	19.76	26.53	34.40	20.28	22.41	28.83	28.57	33.43
Enterprise Value to Operating Cash Flow (EV/OCF)	13.18	16.01	29.39	31.13	16.45	21.03	20.29	27.87	27.46	27.62
Enterprise Value to Free Cash Flow (EV/FCFF)	15.87	23.94	0.00	0.00	16.04	52.39	0.00	0.00	33.30	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.66	0.75	0.97	0.97	0.88	0.96	1.14	0.76	0.58	0.66
Long-Term Debt to Equity	0.65	0.73	0.96	0.96	0.86	0.96	1.13	0.75	0.57	0.63
Financial Leverage	0.56	0.78	0.91	0.83	0.83	1.00	0.91	0.61	0.57	0.59
Leverage Ratio	2.06	2.28	2.51	2.59	2.60	2.64	2.61	2.38	2.33	2.22
Compound Leverage Factor	1.78	1.85	2.16	2.37	2.01	2.37	2.29	2.23	2.21	2.09
Debt to Total Capital	39.70%	42.73%	49.32%	49.19%	46.67%	49.04%	53.19%	43.05%	36.65%	39.63%
Short-Term Debt to Total Capital	0.73%	0.79%	0.83%	0.56%	0.62%	0.08%	0.09%	0.22%	0.29%	1.66%
Long-Term Debt to Total Capital	38.97%	41.94%	48.49%	48.63%	46.05%	48.96%	53.10%	42.83%	36.36%	37.97%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	60.30%	57.27%	50.68%	50.81%	53.33%	50.96%	46.81%	56.95%	63.35%	60.37%
Debt to EBITDA	3.01	3.14	3.44	3.01	3.72	3.03	3.27	2.15	1.45	2.18
Net Debt to EBITDA	2.14	2.82	3.24	2.79	3.14	2.87	3.14	1.96	1.32	2.02
Long-Term Debt to EBITDA	2.95	3.08	3.38	2.98	3.67	3.02	3.26	2.14	1.44	2.08
Debt to NOPAT	4.92	4.95	5.50	4.86	6.89	4.79	5.67	3.50	2.59	3.71
Net Debt to NOPAT	3.50	4.44	5.18	4.50	5.83	4.54	5.45	3.19	2.35	3.45
Long-Term Debt to NOPAT	4.83	4.86	5.41	4.81	6.80	4.78	5.66	3.48	2.57	3.56
Altman Z-Score	3.12	3.17	2.85	3.37	2.86	2.95	2.88	4.27	4.78	4.03
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.81	2.31	2.03	1.87	1.81	2.04	1.90	1.97	1.66	1.56
Quick Ratio	1.61	1.05	0.80	0.83	0.90	0.91	0.84	0.88	0.81	0.66
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	571	421	-135	-793	538	152	-851	-77	243	-119
Operating Cash Flow to CapEx	1,467.46%	738.20%	494.21%	1,051.64%	2,534.95%	809.77%	1,023.62%	757.07%	1,185.12%	1,116.14%
Free Cash Flow to Firm to Interest Expense	6.19	3.49	-1.52	-13.88	6.85	2.87	-14.49	-2.97	10.16	-6.99
Operating Cash Flow to Interest Expense	7.45	5.22	3.74	7.41	6.68	7.14	6.28	11.72	12.32	14.71
Operating Cash Flow Less CapEx to Interest Expense	6.94	4.52	2.98	6.70	6.41	6.26	5.67	10.17	11.28	13.39
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.55	0.59	0.61	0.56	0.49	0.62	0.69	0.75	0.80	0.76
Accounts Receivable Turnover	6.02	6.33	6.68	6.91	6.20	6.99	7.49	7.14	7.46	7.13
Inventory Turnover	2.71	2.49	2.70	2.98	2.90	3.35	3.63	3.59	3.78	3.67
Fixed Asset Turnover	7.47	8.46	9.78	8.96	7.22	8.88	9.13	9.28	10.77	11.09
Accounts Payable Turnover	11.03	10.04	8.98	8.43	9.15	10.25	10.27	9.70	8.97	8.75
Days Sales Outstanding (DSO)	60.65	57.68	54.68	52.80	58.89	52.19	48.73	51.13	48.96	51.20
Days Inventory Outstanding (DIO)	134.89	146.84	135.14	122.29	125.97	108.90	100.49	101.70	96.47	99.38
Days Payable Outstanding (DPO)	33.09	36.35	40.65	43.28	39.88	35.60	35.53	37.62	40.69	41.72
Cash Conversion Cycle (CCC)	162.46	168.17	149.17	131.81	144.97	125.50	113.69	115.21	104.74	108.85
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	5,344	5,428	5,358	4,728	3,438	3,725	3,486	2,300	1,929	1,889
Invested Capital Turnover	0.72	0.75	0.80	0.80	0.70	0.82	0.94	1.10	1.19	1.06
Increase / (Decrease) in Invested Capital	-84	70	630	1,290	-287	240	1,185	371	40	325
Enterprise Value (EV)	9,053	10,066	9,775	13,179	8,631	7,939	7,485	8,485	8,075	6,893
Market Capitalization	7,347	7,889	7,215	10,945	7,170	6,160	5,665	7,545	7,412	6,183
Book Value per Share	$67.64	$60.63	$51.92	$44.84	$35.54	$34.68	$29.82	$24.34	$21.99	$20.36
Tangible Book Value per Share	($9.12)	($17.34)	($26.14)	($29.21)	($25.32)	($23.98)	($25.77)	($12.23)	($9.10)	($9.87)
Total Capital	6,033	5,675	5,520	4,909	3,706	3,820	3,557	2,390	1,997	1,933
Total Debt	2,395	2,425	2,722	2,414	1,730	1,873	1,892	1,029	732	766
Total Long-Term Debt	2,351	2,380	2,677	2,387	1,707	1,870	1,889	1,024	726	734
Net Debt	1,706	2,178	2,560	2,234	1,461	1,779	1,820	939	664	711
Capital Expenditures (CapEx)	47	85	67	40	21	47	36	40	25	22
Debt-free, Cash-free Net Working Capital (DFCFNWC)	855	912	901	639	325	524	434	374	261	262
Debt-free Net Working Capital (DFNWC)	1,545	1,160	1,063	819	593	619	506	463	329	317
Net Working Capital (NWC)	1,501	1,115	1,018	792	570	616	503	458	323	285
Net Nonoperating Expense (NNE)	59	89	58	8.27	44	39	17	-3.82	-1.54	15
Net Nonoperating Obligations (NNO)	1,706	2,178	2,560	2,234	1,461	1,779	1,820	939	664	722
Total Depreciation and Amortization (D&A)	127	133	138	125	119	103	97	70	58	54
Debt-free, Cash-free Net Working Capital to Revenue	22.07%	22.60%	22.35%	19.66%	12.93%	17.72%	15.94%	16.00%	11.49%	14.32%
Debt-free Net Working Capital to Revenue	39.86%	28.73%	26.37%	25.21%	23.60%	20.91%	18.58%	19.84%	14.51%	17.36%
Net Working Capital to Revenue	38.73%	27.62%	25.24%	24.37%	22.69%	20.82%	18.46%	19.62%	14.26%	15.61%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$7.97	$7.48	$8.07	$8.85	$3.76	$6.33	$5.71	$0.00	$4.98	$3.36
Adjusted Weighted Average Basic Shares Outstanding	53.74M	53.58M	54.10M	55.22M	55.09M	55.65M	55.58M	56.72M	57.03M	56.95M
Adjusted Diluted Earnings per Share	$7.90	$7.41	$7.95	$8.62	$3.76	$6.33	$5.70	$5.26	$4.98	$3.36
Adjusted Weighted Average Diluted Shares Outstanding	54.21M	54.09M	54.95M	56.67M	55.14M	55.66M	55.60M	56.72M	57.09M	56.97M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	53.62M	53.60M	53.61M	54.66M	55.64M	56.19M	55.70M	55.73M	57.54M	57.31M
Normalized Net Operating Profit after Tax (NOPAT)	525	561	502	415	271	388	348	346	290	226
Normalized NOPAT Margin	13.56%	13.90%	12.45%	12.78%	10.77%	13.11%	12.80%	14.79%	12.78%	12.36%
Pre Tax Income Margin	14.90%	12.87%	14.00%	19.06%	10.67%	15.63%	15.55%	16.42%	18.58%	15.39%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	7.26	5.32	7.34	11.84	4.41	9.75	8.21	15.76	18.64	17.57
NOPAT to Interest Expense	5.28	4.07	5.56	8.69	3.19	7.40	5.69	11.33	11.84	12.15
EBIT Less CapEx to Interest Expense	6.75	4.61	6.59	11.13	4.15	8.87	7.60	14.21	17.60	16.25
NOPAT Less CapEx to Interest Expense	4.77	3.36	4.80	7.99	2.93	6.52	5.07	9.78	10.80	10.84
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	8.09%	18.60%	60.65%	5.99%	41.43%	1.74%	0.00%	80.45%	1.55%	2.52%

This table displays calculated financial ratios and metrics derived from Middleby's official financial filings.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/29/2025	12/28/2024	9/28/2024	6/29/2024	3/30/2024	12/30/2023	9/30/2023	7/1/2023	4/1/2023	12/31/2022	10/1/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-2.19%	0.53%	-3.86%	-4.66%	-7.99%	-2.24%	-1.23%	2.60%	1.28%	-38.73%	0.00%
EBITDA Growth	-0.90%	38.05%	-0.91%	-3.44%	-11.62%	-32.16%	7.46%	8.62%	11.07%	-28.25%	26.70%
EBIT Growth	-0.91%	50.18%	0.34%	-4.44%	-12.56%	-38.76%	7.57%	9.03%	24.12%	-30.58%	32.96%
NOPAT Growth	3.42%	23.94%	-2.47%	-5.26%	-14.53%	-35.06%	8.15%	10.46%	29.31%	48.02%	-31.80%
Net Income Growth	6.68%	47.20%	5.08%	-1.25%	-12.64%	-42.72%	4.10%	3.18%	15.55%	-88.43%	111.96%
EPS Growth	6.29%	45.77%	4.98%	-1.39%	-12.64%	-41.80%	4.69%	4.35%	19.74%	34.81%	-37.86%
Operating Cash Flow Growth	0.17%	-6.24%	-28.51%	141.36%	53.15%	60.71%	160.92%	-40.89%	699.60%	105.67%	-51.63%
Free Cash Flow Firm Growth	-22.33%	570.00%	185.51%	169.33%	135.79%	106.55%	72.43%	61.68%	65.69%	59.94%	-808.31%
Invested Capital Growth	-0.28%	-1.54%	-2.11%	-3.72%	-0.98%	1.30%	8.18%	12.66%	11.46%	13.32%	29.39%
Revenue Q/Q Growth	-10.58%	7.54%	-4.92%	6.97%	-8.10%	2.85%	-5.71%	3.23%	-2.36%	3.91%	-2.05%
EBITDA Q/Q Growth	-16.26%	-0.72%	-1.96%	21.59%	24.23%	-28.74%	-4.46%	11.30%	-10.47%	12.88%	-3.43%
EBIT Q/Q Growth	-19.19%	-1.74%	-1.82%	27.09%	32.96%	-34.35%	-6.50%	16.29%	-14.22%	15.33%	-5.23%
NOPAT Q/Q Growth	-14.26%	-2.60%	-2.28%	26.72%	2.75%	-23.35%	-5.07%	14.32%	-21.93%	27.65%	-3.05%
Net Income Q/Q Growth	-17.77%	-1.63%	-1.07%	33.30%	13.47%	-29.78%	-7.02%	17.92%	-25.61%	27.62%	-7.84%
EPS Q/Q Growth	-18.36%	-1.90%	-0.94%	33.96%	11.97%	-29.35%	-6.94%	18.68%	-25.41%	27.08%	-7.25%
Operating Cash Flow Q/Q Growth	-41.13%	53.02%	4.78%	6.11%	-44.89%	16.67%	253.77%	-32.67%	-42.17%	89.43%	-19.86%
Free Cash Flow Firm Q/Q Growth	-41.52%	-14.63%	-27.88%	115.72%	404.46%	110.89%	41.52%	-11.35%	7.72%	54.12%	18.71%
Invested Capital Q/Q Growth	0.49%	-0.90%	0.48%	-0.34%	-0.79%	-1.46%	-1.18%	2.50%	1.50%	5.23%	2.91%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	38.16%	38.36%	37.70%	38.29%	37.37%	38.35%	38.27%	37.81%	37.60%	37.81%	36.79%
EBITDA Margin	18.97%	20.25%	21.94%	21.28%	18.72%	14.75%	21.29%	21.01%	19.49%	21.25%	19.57%
Operating Margin	15.51%	16.76%	18.40%	17.72%	14.79%	11.37%	17.79%	17.77%	15.98%	18.23%	16.29%
EBIT Margin	15.42%	17.07%	18.68%	18.09%	15.22%	11.42%	17.89%	18.05%	16.02%	18.23%	16.43%
Profit (Net Income) Margin	10.19%	11.08%	12.11%	11.64%	9.34%	7.56%	11.08%	11.24%	9.84%	12.91%	10.51%
Tax Burden Percent	76.04%	73.39%	73.81%	74.56%	75.38%	87.77%	75.25%	74.84%	75.12%	82.36%	75.06%
Interest Burden Percent	86.87%	88.45%	87.85%	86.30%	81.38%	75.46%	82.29%	83.20%	81.74%	85.96%	85.25%
Effective Tax Rate	23.96%	26.61%	26.19%	25.44%	24.62%	12.23%	24.75%	25.16%	24.88%	17.64%	24.94%
Return on Invested Capital (ROIC)	8.45%	8.85%	9.64%	9.44%	8.15%	7.47%	10.25%	10.29%	9.42%	12.01%	12.69%
ROIC Less NNEP Spread (ROIC-NNEP)	7.67%	8.21%	8.98%	8.75%	7.43%	6.44%	9.35%	9.45%	8.55%	11.10%	11.89%
Return on Net Nonoperating Assets (RNNOA)	4.04%	4.63%	5.66%	6.16%	5.60%	5.05%	8.37%	8.91%	8.12%	10.06%	10.48%
Return on Equity (ROE)	12.50%	13.48%	15.30%	15.59%	13.75%	12.51%	18.62%	19.20%	17.54%	22.07%	23.17%
Cash Return on Invested Capital (CROIC)	9.40%	10.59%	10.59%	12.29%	9.72%	7.80%	2.44%	-1.72%	-0.71%	-2.68%	-15.77%
Operating Return on Assets (OROA)	8.30%	9.32%	10.23%	10.09%	8.67%	6.69%	10.69%	10.83%	9.65%	11.09%	12.37%
Return on Assets (ROA)	5.48%	6.05%	6.64%	6.49%	5.32%	4.43%	6.62%	6.75%	5.93%	7.85%	7.91%
Return on Common Equity (ROCE)	12.50%	13.48%	15.30%	15.59%	13.75%	12.51%	18.62%	19.20%	17.54%	22.07%	23.17%
Return on Equity Simple (ROE_SIMPLE)	11.64%	0.00%	10.92%	11.31%	11.73%	0.00%	14.79%	15.12%	15.72%	0.00%	58.23%
Net Operating Profit after Tax (NOPAT)	107	125	128	131	103	101	131	138	121	155	121
NOPAT Margin	11.79%	12.30%	13.58%	13.21%	11.15%	9.98%	13.39%	13.30%	12.01%	15.02%	12.22%
Net Nonoperating Expense Percent (NNEP)	0.78%	0.64%	0.66%	0.69%	0.72%	1.03%	0.90%	0.84%	0.87%	0.91%	0.80%
Return On Investment Capital (ROIC_SIMPLE)	1.75%	2.07%	-	-	-	1.77%	-	-	-	2.81%	-
Cost of Revenue to Revenue	61.84%	61.64%	62.30%	61.71%	62.63%	61.65%	61.73%	62.19%	62.40%	62.19%	63.21%
SG&A Expenses to Revenue	22.35%	17.60%	19.04%	20.03%	22.23%	19.00%	20.03%	19.57%	21.38%	19.43%	20.26%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	22.65%	21.60%	19.30%	20.57%	22.57%	26.98%	20.48%	20.05%	21.61%	19.58%	20.50%
Earnings before Interest and Taxes (EBIT)	140	173	176	179	141	115	175	188	161	188	163
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	172	205	207	211	174	149	209	219	196	219	194
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.20	2.02	2.12	1.93	2.60	2.43	2.22	2.64	2.75	2.58	2.76
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	2.13	1.90	1.97	1.69	2.18	1.95	1.69	1.94	1.94	1.79	1.47
Price to Earnings (P/E)	18.87	17.15	19.42	17.04	22.19	19.68	14.99	17.44	17.47	16.53	4.75
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	5.30%	5.83%	5.15%	5.87%	4.51%	5.08%	6.67%	5.73%	5.72%	6.05%	21.07%
Enterprise Value to Invested Capital (EV/IC)	1.83	1.69	1.75	1.59	1.99	1.85	1.68	1.88	1.92	1.82	1.87
Enterprise Value to Revenue (EV/Rev)	2.55	2.34	2.43	2.18	2.70	2.49	2.28	2.58	2.58	2.42	2.03
Enterprise Value to EBITDA (EV/EBITDA)	12.36	11.36	12.88	11.65	14.44	13.03	11.00	12.66	12.87	12.35	10.82
Enterprise Value to EBIT (EV/EBIT)	14.71	13.52	15.63	14.18	17.52	15.74	13.01	14.97	15.24	14.96	12.90
Enterprise Value to NOPAT (EV/NOPAT)	20.04	18.59	20.42	18.36	22.64	20.54	16.99	19.57	19.98	19.76	21.36
Enterprise Value to Operating Cash Flow (EV/OCF)	14.31	13.18	13.40	11.16	15.78	16.01	17.43	26.41	23.72	29.39	37.88
Enterprise Value to Free Cash Flow (EV/FCFF)	19.45	15.87	16.32	12.70	20.33	23.94	71.83	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.64	0.66	0.67	0.70	0.73	0.75	0.83	0.91	0.95	0.97	1.10
Long-Term Debt to Equity	0.63	0.65	0.66	0.69	0.72	0.73	0.82	0.90	0.94	0.96	1.08
Financial Leverage	0.53	0.56	0.63	0.70	0.75	0.78	0.89	0.94	0.95	0.91	0.88
Leverage Ratio	2.04	2.06	2.11	2.18	2.25	2.28	2.43	2.50	2.54	2.51	2.59
Compound Leverage Factor	1.77	1.82	1.86	1.88	1.83	1.72	2.00	2.08	2.08	2.15	2.21
Debt to Total Capital	39.00%	39.70%	40.10%	41.27%	42.17%	42.73%	45.46%	47.66%	48.84%	49.32%	52.29%
Short-Term Debt to Total Capital	0.72%	0.73%	0.73%	0.76%	0.78%	0.79%	0.78%	0.77%	0.79%	0.83%	0.85%
Long-Term Debt to Total Capital	38.29%	38.97%	39.37%	40.51%	41.39%	41.94%	44.68%	46.89%	48.05%	48.49%	51.43%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	61.00%	60.30%	59.90%	58.73%	57.83%	57.27%	54.54%	52.34%	51.16%	50.68%	47.71%
Debt to EBITDA	3.00	3.01	3.29	3.28	3.26	3.14	3.06	3.30	3.37	3.44	3.12
Net Debt to EBITDA	2.06	2.14	2.46	2.65	2.80	2.82	2.86	3.11	3.18	3.24	2.95
Long-Term Debt to EBITDA	2.94	2.95	3.23	3.22	3.20	3.08	3.01	3.24	3.31	3.38	3.07
Debt to NOPAT	4.86	4.92	5.21	5.17	5.11	4.95	4.73	5.10	5.23	5.50	6.16
Net Debt to NOPAT	3.34	3.50	3.90	4.18	4.39	4.44	4.42	4.81	4.93	5.18	5.83
Long-Term Debt to NOPAT	4.77	4.83	5.12	5.08	5.02	4.86	4.65	5.02	5.15	5.41	6.05
Altman Z-Score	3.01	2.90	2.95	2.78	3.08	2.92	2.71	2.81	2.72	2.63	2.66
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.72	2.81	2.81	2.50	2.40	2.31	2.27	2.32	2.08	2.03	2.08
Quick Ratio	1.57	1.61	1.50	1.27	1.13	1.05	0.93	0.91	0.82	0.80	0.79
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	122	208	244	338	157	31	-285	-488	-438	-475	-1,035
Operating Cash Flow to CapEx	418.40%	1,824.32%	1,363.61%	1,367.07%	1,025.26%	1,645.98%	1,027.44%	271.34%	361.00%	971.62%	447.21%
Free Cash Flow to Firm to Interest Expense	6.63	10.42	11.40	13.77	5.97	1.10	-9.18	-15.48	-14.88	-17.98	-43.01
Operating Cash Flow to Interest Expense	7.69	11.99	7.32	6.09	5.36	9.04	7.05	1.96	3.12	6.02	3.49
Operating Cash Flow Less CapEx to Interest Expense	5.85	11.34	6.78	5.64	4.84	8.49	6.37	1.24	2.26	5.40	2.71
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.54	0.55	0.55	0.56	0.57	0.59	0.60	0.60	0.60	0.61	0.75
Accounts Receivable Turnover	6.16	6.02	6.20	6.16	6.29	6.33	6.62	6.41	6.31	6.68	8.84
Inventory Turnover	2.62	2.71	2.50	2.42	2.38	2.49	2.43	2.43	2.50	2.70	2.85
Fixed Asset Turnover	7.28	7.47	7.67	7.91	8.16	8.46	8.80	9.04	9.58	9.78	11.80
Accounts Payable Turnover	10.28	11.03	10.94	10.26	9.52	10.04	10.39	9.16	8.69	8.98	9.68
Days Sales Outstanding (DSO)	59.21	60.65	58.86	59.22	58.04	57.68	55.14	56.95	57.87	54.68	41.29
Days Inventory Outstanding (DIO)	139.38	134.89	145.97	151.05	153.17	146.84	150.33	149.99	146.04	135.14	127.89
Days Payable Outstanding (DPO)	35.51	33.09	33.36	35.56	38.33	36.35	35.13	39.87	42.02	40.65	37.70
Cash Conversion Cycle (CCC)	163.08	162.46	171.47	174.71	172.89	168.17	170.34	167.08	161.88	149.17	131.48
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	5,370	5,344	5,392	5,367	5,385	5,428	5,508	5,574	5,438	5,358	5,092
Invested Capital Turnover	0.72	0.72	0.71	0.71	0.73	0.75	0.77	0.77	0.78	0.80	1.04
Increase / (Decrease) in Invested Capital	-15	-84	-116	-207	-53	70	417	626	559	630	1,157
Enterprise Value (EV)	9,832	9,053	9,419	8,537	10,692	10,066	9,274	10,486	10,436	9,775	9,499
Market Capitalization	8,192	7,347	7,620	6,593	8,619	7,889	6,861	7,911	7,860	7,215	6,906
Book Value per Share	$69.56	$67.64	$66.82	$63.64	$61.71	$60.63	$57.74	$56.05	$53.39	$51.92	$46.37
Tangible Book Value per Share	($7.83)	($9.12)	($10.50)	($13.03)	($15.50)	($17.34)	($21.13)	($23.23)	($25.33)	($26.14)	($29.15)
Total Capital	6,115	6,033	5,998	5,826	5,726	5,675	5,675	5,731	5,595	5,520	5,237
Total Debt	2,385	2,395	2,405	2,404	2,415	2,425	2,580	2,732	2,733	2,722	2,738
Total Long-Term Debt	2,341	2,351	2,361	2,360	2,370	2,380	2,536	2,688	2,688	2,677	2,693
Net Debt	1,640	1,706	1,799	1,945	2,074	2,178	2,413	2,575	2,576	2,560	2,593
Capital Expenditures (CapEx)	34	13	11	11	14	16	21	23	25	16	19
Debt-free, Cash-free Net Working Capital (DFCFNWC)	827	855	915	871	885	912	974	1,045	958	901	913
Debt-free Net Working Capital (DFNWC)	1,572	1,545	1,521	1,331	1,226	1,160	1,141	1,202	1,114	1,063	1,057
Net Working Capital (NWC)	1,528	1,501	1,477	1,286	1,181	1,115	1,097	1,158	1,070	1,018	1,013
Net Nonoperating Expense (NNE)	15	12	14	16	17	24	23	21	22	22	17
Net Nonoperating Obligations (NNO)	1,640	1,706	1,799	1,945	2,074	2,178	2,413	2,575	2,576	2,560	2,593
Total Depreciation and Amortization (D&A)	32	32	31	32	32	34	33	31	35	31	31
Debt-free, Cash-free Net Working Capital to Revenue	21.45%	22.07%	23.64%	22.30%	22.36%	22.60%	23.99%	25.66%	23.68%	22.35%	19.48%
Debt-free Net Working Capital to Revenue	40.77%	39.86%	39.30%	34.05%	30.98%	28.73%	28.10%	29.52%	27.55%	26.37%	22.57%
Net Working Capital to Revenue	39.64%	38.73%	38.16%	32.92%	29.85%	27.62%	27.01%	28.43%	26.45%	25.24%	21.62%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.72	$2.09	$2.12	$2.15	$1.61	$1.42	$2.03	$2.18	$1.85	$2.46	$1.94
Adjusted Weighted Average Basic Shares Outstanding	53.59M	53.74M	53.77M	53.77M	53.65M	53.58M	53.59M	53.53M	53.59M	54.10M	53.87M
Adjusted Diluted Earnings per Share	$1.69	$2.07	$2.11	$2.13	$1.59	$1.42	$2.01	$2.16	$1.82	$2.44	$1.92
Adjusted Weighted Average Diluted Shares Outstanding	54.62M	54.21M	54.04M	54.07M	54.39M	54.09M	54.16M	54.04M	54.38M	54.95M	54.38M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	53.48M	53.62M	53.79M	53.77M	53.77M	53.60M	53.60M	53.60M	53.52M	53.61M	53.88M
Normalized Net Operating Profit after Tax (NOPAT)	109	127	130	135	106	103	135	142	123	156	123
Normalized NOPAT Margin	12.02%	12.53%	13.78%	13.61%	11.41%	10.19%	13.73%	13.65%	12.18%	15.14%	12.40%
Pre Tax Income Margin	13.40%	15.09%	16.41%	15.61%	12.39%	8.62%	14.72%	15.01%	13.09%	15.67%	14.01%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	7.61	8.66	8.23	7.30	5.37	4.07	5.65	5.95	5.48	7.12	6.78
NOPAT to Interest Expense	5.82	6.24	5.98	5.33	3.93	3.56	4.22	4.39	4.11	5.87	5.04
EBIT Less CapEx to Interest Expense	5.78	8.00	7.69	6.86	4.85	3.52	4.96	5.23	4.61	6.50	6.00
NOPAT Less CapEx to Interest Expense	3.98	5.58	5.45	4.89	3.41	3.01	3.54	3.66	3.24	5.25	4.26
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	13.92%	8.09%	4.66%	4.65%	6.16%	18.60%	21.77%	21.99%	36.10%	60.65%	18.31%

Frequently Asked Questions About Middleby's Financials

When does Middleby's fiscal year end?

According to the most recent income statement we have on file, Middleby's financial year ends in December. Their financial year 2024 ended on December 28, 2024.

How has Middleby's net income changed over the last 9 years?

Middleby's net income appears to be on an upward trend, with a most recent value of $428.43 million in 2024, rising from $191.61 million in 2015. The previous period was $400.88 million in 2023. Find out what analysts predict for Middleby in the coming months.

What is Middleby's operating income?

Middleby's total operating income in 2024 was $656.19 million, based on the following breakdown:

Total Gross Profit: $1.47 billion
Total Operating Expenses: $814.18 million

How has Middleby revenue changed over the last 9 years?

Over the last 9 years, Middleby's total revenue changed from $1.83 billion in 2015 to $3.88 billion in 2024, a change of 112.2%.

How much debt does Middleby have?

Middleby's total liabilities were at $3.64 billion at the end of 2024, a 0.3% decrease from 2023, and a 128.6% increase since 2015.

How much cash does Middleby have?

In the past 9 years, Middleby's cash and equivalents has ranged from $55.53 million in 2015 to $689.53 million in 2024, and is currently $689.53 million as of their latest financial filing in 2024.

How has Middleby's book value per share changed over the last 9 years?

Over the last 9 years, Middleby's book value per share changed from 20.36 in 2015 to 67.64 in 2024, a change of 232.2%.

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This page (NASDAQ:MIDD) was last updated on 5/29/2025 by MarketBeat.com Staff

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Middleby (MIDD) Financials

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Middleby (MIDD) Financials

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