Middleby (MIDD) Financials

$136.23 -2.34 (-1.69%)

Closing price 04:00 PM Eastern

Extended Trading

$136.21 -0.02 (-0.02%)

As of 06:19 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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Period end date	1/2/2016	12/31/2016	12/30/2017	12/29/2018	12/28/2019	1/2/2021	1/1/2022	12/31/2022	12/30/2023	12/28/2024
Net Income / (Loss) Attributable to Common Shareholders	192	284	298	317	352	207	488	437	401	428
Consolidated Net Income / (Loss)	192	284	298	317	352	207	488	437	401	428
Net Income / (Loss) Continuing Operations	192	284	298	317	352	207	488	437	401	428
Total Pre-Tax Income	281	421	384	424	463	268	620	564	519	577
Total Operating Income	303	419	379	446	514	324	630	640	635	656
Total Gross Profit	707	901	913	1,004	1,103	882	1,195	1,447	1,534	1,470
Total Revenue	1,827	2,268	2,336	2,723	2,959	2,513	3,251	4,033	4,037	3,875
Operating Revenue	1,827	2,268	2,336	2,723	2,959	2,513	3,251	4,033	4,037	3,875
Total Cost of Revenue	1,120	1,367	1,423	1,719	1,856	1,631	2,056	2,586	2,503	2,405
Operating Cost of Revenue	1,120	1,367	1,423	1,719	1,856	1,631	2,056	2,586	2,503	2,405
Total Operating Expenses	404	482	534	558	589	558	565	807	899	814
Selling, General & Admin Expense	375	472	468	539	594	532	668	797	807	763
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	0.00	0.00	58	0.00	0.00	15	0.00	0.00	78	39
Restructuring Charge	29	11	20	19	10	12	7.66	9.72	14	14
Other Special Charges / (Income)	0.00	0.00	-12	0.00	-15	-1.98	-111	0.00	0.00	-1.14
Total Other Income / (Expense), net	-21	2.29	4.92	-22	-51	-56	-10	-75	-115	-79
Interest Expense	17	24	26	59	53	79	57	89	120	92
Other Income / (Expense), net	-4.47	26	31	36	1.46	22	47	14	4.86	13
Income Tax Expense	90	137	85	106	110	61	131	128	118	149
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	$3.36	$4.98	$5.26	$5.71	$6.33	$3.76	$8.85	$8.07	$7.48	$7.97
Weighted Average Basic Shares Outstanding	56.95M	57.03M	56.72M	55.58M	55.65M	55.09M	55.22M	54.10M	53.58M	53.74M
Diluted Earnings per Share	$3.36	$4.98	$5.26	$5.70	$6.33	$3.76	$8.62	$7.95	$7.41	$7.90
Weighted Average Diluted Shares Outstanding	56.97M	57.09M	56.72M	55.60M	55.66M	55.14M	56.67M	54.95M	54.09M	54.21M
Weighted Average Basic & Diluted Shares Outstanding	57M	57.10M	56.70M	56.30M	56.19M	55.64M	54.66M	53.61M	53.60M	53.62M

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

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

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

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

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

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

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

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

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

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

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. See Middleby's forecast for analyst expectations on what’s next for the company.

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 5/5/2025 by MarketBeat.com Staff

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Middleby (MIDD) Financials

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Middleby (MIDD) Financials

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