Market Summary
USD132.73-2.49
Delayedas of 31 May 2023, 02:40 pm-1.84%
MIDD Alerts
MIDD Stock Price
MIDD RSI Chart
MIDD Valuation
MIDD Price/Sales (Trailing)
MIDD Profitability
MIDD Fundamentals
MIDD Revenue
MIDD Earnings
Price Action
52 Week Range
120.30162.02
(Low)(High)
Last 7 days
-2.0%
Last 30 days
-4.0%
Last 90 days
-12.7%
Trailing 12 Months
-10.2%
MIDD Financial Health
MIDD Investor Care
Peers (Alternatives to Middleby)
View All Peers In Detail| Name | Mkt Capsorted ascending | Revenue | Price %, 1M | Returns, 1Y | P/E | P/S | Rev 1-Yr | Inc 1-Yr |
|---|---|---|---|---|---|---|---|---|
| LARGE-CAP | ||||||||
ITW | 67.9B | 15.9B | -7.66% | 9.55% | 22.38 | 4.26 | 10.22% | 12.62% |
IR | 24.3B | 6.2B | 2.49% | 20.56% | 40.13 | 4.1 | 15.83% | -12.49% |
XYL | 18.9B | 5.7B | -5.06% | 15.45% | 53.13 | 3.42 | 9.35% | -16.86% |
IEX | 15.3B | - | -1.71% | 6.21% | 26.14 | 5.23 | 15.09% | 23.05% |
NDSN | 12.6B | 2.6B | 2.03% | 0.40% | 25.39 | 4.87 | 6.00% | -0.05% |
| MID-CAP | ||||||||
DCI | 7.8B | 3.4B | 0.85% | 22.15% | 21.84 | 2.28 | 10.23% | 12.47% |
MIDD | 7.6B | 4.0B | -4.02% | -10.19% | 17.34 | 1.88 | 16.01% | -7.23% |
AQUA | 6.1B | 1.9B | 0.46% | 36.55% | 77.42 | 3.28 | 16.94% | 47.60% |
FLS | 4.4B | 3.8B | 1.74% | 8.83% | 23.32 | 1.22 | 7.69% | 140.86% |
| SMALL-CAP | ||||||||
SXI | 1.7B | 742.4M | 14.26% | 48.62% | 24.09 | 2.24 | 4.57% | 49.21% |
EPAC | 1.5B | 585.1M | 10.10% | 28.74% | 63.16 | 2.55 | 5.21% | -31.13% |
ERII | 1.4B | 106.4M | 9.72% | 22.50% | 141.27 | 13.08 | -0.99% | -35.55% |
TNC | 1.4B | 1.1B | -3.15% | 16.86% | 17.09 | 1.2 | 5.00% | 62.22% |
GRC | 651.6M | 579.3M | -1.67% | -17.09% | 64.06 | 1.12 | 47.99% | -66.05% |
Financials for Middleby
| Income Statement (Last 12 Months) | (In Millions) | |||||
|---|---|---|---|---|---|---|
| Description | (%) Q/Q | 2023Q1 | 2022Q4 | 2022Q3 | 2022Q2 | 2022Q1 |
| Revenue | 0.3% | 4,046 | 4,033 | 3,868 | 3,692 | 3,487 |
| Gross Profit | 3.3% | 1,495 | 1,447 | 1,372 | 1,307 | 1,249 |
| S&GA Expenses | 1.2% | 807 | 797 | 769 | 743 | 719 |
| EBITDA | 3.3% | 702 | 680 | 771 | 767 | - |
| EBITDA Margin | -1.0% | 0.17* | 0.18* | 0.21* | 0.22* | - |
| Earnings Before Taxes | 3.5% | 584 | 564 | 539 | 630 | 614 |
| EBT Margin | 0.5% | 0.14* | 0.14* | 0.17* | 0.18* | - |
| Interest Expenses | - | 77.00 | - | - | - | - |
| Net Income | 3.1% | 450 | 437 | 406 | 478 | 485 |
| Net Income Margin | 3.1% | 0.11* | 0.10* | 0.13* | 0.14* | - |
| Free Cahsflow | 44.9% | 265 | 183 | 281 | 296 | - |
| Balance Sheet | (In Millions) | |||||
|---|---|---|---|---|---|---|
| Description | (%) Q/Q | 2023Q1 | 2022Q4 | 2022Q3 | 2022Q2 | 2022Q1 |
| Assets | 1.2% | 6,956 | 6,875 | 6,672 | 6,579 | 6,474 |
| Current Assets | 2.7% | 2,061 | 2,006 | 1,951 | 1,935 | 1,824 |
| Cash Equivalents | -3.4% | 157 | 162 | 145 | 167 | 147 |
| Inventory | 3.6% | 1,116 | 1,078 | 1,063 | 1,009 | 925 |
| Net PPE | 4.1% | 462 | 444 | 424 | 418 | 383 |
| Goodwill | 0.7% | 2,429 | 2,412 | 2,287 | 2,221 | 2,236 |
| Current Liabilities | 0.2% | 990 | 988 | 938 | 976 | 918 |
| LT Debt, Current | -2.9% | 44.00 | 46.00 | 45.00 | 49.00 | 28.00 |
| LT Debt, Non Current | 0.4% | 2,688 | 2,677 | 2,693 | 2,647 | 2,570 |
| Shareholder's Equity | 2.3% | 2,862 | 2,798 | 2,499 | 2,418 | 2,428 |
| Retained Earnings | 2.8% | 3,598 | 3,499 | 3,366 | 3,261 | 3,148 |
| Additional Paid-In Capital | 4.3% | 426 | 408 | 393 | 377 | 364 |
| Accumulated Depreciation | 2.7% | 308 | 300 | 283 | 279 | 273 |
| Shares Outstanding | -0.3% | 54.00 | 54.00 | 55.00 | - | - |
| Cashflow (Last 12 Months) | (In Millions) | |||||
|---|---|---|---|---|---|---|
| Description | (%) Q/Q | 2023Q1 | 2022Q4 | 2022Q3 | 2022Q2 | 2022Q1 |
| Cashflow From Operations | 32.3% | 440 | 333 | 251 | 340 | 348 |
| Share Based Compensation | -2.5% | 57.00 | 58.00 | 58.00 | 52.00 | 48.00 |
| Cashflow From Investing | -3.5% | -360 | -348 | -854 | -1,091 | -1,025 |
| Cashflow From Financing | -944.8% | -64.47 | 8.00 | 521 | 539 | 520 |
| Buy Backs | -38.7% | 162 | 265 | 266 | 267 | 198 |
Risks for MIDD
What is the probability of a big loss on MIDD?
76.5%
Probability that Middleby stock will be more than 20% underwater in next one year
33.5%
Probability that Middleby stock will be more than 30% underwater in next one year.
19.6%
Probability that Middleby stock will be more than 40% underwater in next one year.
*Calculated based on probability distribution of losses observed in actual data in the last 5 years.
How does MIDD drawdown profile look like?
Y-axis is the maximum loss one would have experienced if Middleby was unfortunately bought at previous high price.
Drawdowns
Returns for MIDD
Cumulative Returns on MIDD
9.5%
10-Year Cumulative Returns
1.2%
7-Year Cumulative Returns
6.3%
5-Year Cumulative Returns
25.7%
3-Year Cumulative Returns
What are the long-term rolling returns for MIDD?
FIve years rolling returns for Middleby.
Annualized Returns
Which funds bought or sold MIDD recently?
View All Details| Datesorted ascending | Fund Name | Type | % Chg | $ Change | $ Held | % Portfolio |
|---|---|---|---|---|---|---|
2023-05-26 | ProShare Advisors LLC | reduced | -8.58 | 445 | 470,032 | -% |
2023-05-23 | BROOKFIELD Corp /ON/ | sold off | -100 | -276,362,000 | - | -% |
2023-05-23 | MOUNTAIN PACIFIC INVESTMENT ADVISERS INC/ID | reduced | -8.83 | -1,328 | 733,783 | 0.05% |
2023-05-22 | AMERIPRISE FINANCIAL INC | reduced | -41.89 | -38,435,600 | 67,215,400 | 0.02% |
2023-05-22 | PUTNAM INVESTMENTS LLC | added | 1.49 | 697,109 | 10,536,000 | 0.02% |
2023-05-18 | JPMORGAN CHASE & CO | reduced | -16.73 | -30,995,700 | 320,278,000 | 0.04% |
2023-05-18 | NEW YORK STATE COMMON RETIREMENT FUND | added | 10.26 | 1,658,000 | 9,661,000 | 0.01% |
2023-05-17 | Advisory Services Network, LLC | reduced | -0.14 | 17,425 | 204,081 | 0.01% |
2023-05-17 | VIRGINIA RETIREMENT SYSTEMS ET AL | reduced | -45.25 | -982,023 | 1,312,220 | 0.01% |
2023-05-17 | Thrivent Financial for Lutherans | reduced | -3.65 | 4,261,000 | 81,814,000 | 0.20% |
Latest Funds Activity
Calls
Puts
Net Call Options
No. of Funds
MIDD Alerts
Middleby News
Schedule 13G FIlings of Middleby
| Date Filed | Name of Filer | Percent of Class | No. of Shares | Form Type | |
|---|---|---|---|---|---|
| Feb 14, 2023 | select equity group, l.p. | 8.42% | 4,536,791 | SC 13G | |
| Feb 09, 2023 | vanguard group inc | 9.35% | 5,036,521 | SC 13G/A | |
| Feb 06, 2023 | wellington management group llp | 7.83% | 4,219,845 | SC 13G/A | |
| Feb 03, 2023 | blackrock inc. | 8.5% | 4,566,011 | SC 13G/A | |
| Feb 11, 2022 | edgepoint investment group inc. | 4.5% | 2,526,833 | SC 13G/A | |
| Feb 10, 2022 | vanguard group inc | 9.27% | 5,157,905 | SC 13G/A | |
| Feb 04, 2022 | wellington management group llp | 8.32% | 4,651,089 | SC 13G | |
| Feb 01, 2022 | blackrock inc. | 8.1% | 4,489,479 | SC 13G/A | |
| Feb 12, 2021 | edgepoint investment group inc. | 8.6% | 4,776,087 | SC 13G/A | |
| Feb 11, 2021 | goldman sachs & co. llc | 7.2% | 4,029,326 | SC 13G |
MIDD Fair Value
Recent SEC filings of Middleby
View All Filings| Date Filed | Form Type | Document | |
|---|---|---|---|
| May 30, 2023 | SD | SD | |
| May 26, 2023 | 3 | Insider Trading | |
| May 26, 2023 | 3 | Insider Trading | |
| May 24, 2023 | 4 | Insider Trading | |
| May 24, 2023 | 4 | Insider Trading | |
| May 22, 2023 | 144 | Notice of Insider Sale Intent | |
| May 19, 2023 | 8-K | Current Report | |
| May 19, 2023 | 8-K | Current Report | |
| May 11, 2023 | 10-Q | Quarterly Report | |
| May 10, 2023 | 8-K | Current Report |
Latest Insider Trading transactions for MIDD
Filter Transactions| Datesorted ascending | Name | Buy/Sell | $ Value | Avg. Price | # Shares | Title |
|---|---|---|---|---|---|---|
2023-05-23 | Palisi Chapin Sarah | sold | -35,235 | 140 | -250 | - |
2023-05-22 | MILLER JOHN R III | sold | -160,183 | 141 | -1,135 | - |
2023-03-06 | Palisi Chapin Sarah | sold | -47,217 | 157 | -300 | - |
2023-03-02 | Ziyad Nassem | acquired | - | - | 1,046 | - |
2023-03-02 | Palisi Chapin Sarah | acquired | - | - | 1,046 | - |
2023-03-02 | MILLER JOHN R III | acquired | - | - | 1,046 | - |
2023-03-02 | McCarthy Cathy L | acquired | - | - | 1,046 | - |
2023-03-02 | OBRIEN GORDON | acquired | - | - | 1,046 | - |
2023-03-02 | Nerbonne Robert A | acquired | - | - | 1,046 | - |
2023-03-01 | Mittelman Bryan E. | sold (taxes) | -230,411 | 154 | -1,487 | chief financial officer |
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. Its Residential Kitchen Equipment Group segment offers kitchen equipment comprising cookers, stoves, dishwashers, microwaves, cooktops, wine coolers, ice machines, and ventilation and outdoor equipment. The company was formerly known as Middleby Marshall Oven Company and changed its name to The Middleby Corporation in 1985. The company was founded in 1888 and is based in Elgin, Illinois.
MIDD Income Statement
2023-04-01CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands | 3 Months Ended | |||||
|---|---|---|---|---|---|---|
Apr. 01, 2023 | Apr. 02, 2022 | |||||
| Revenue from Contract with Customer, Excluding Assessed Tax | $ 1,007,396 | $ 994,676 | ||||
| Cost of sales | 628,661 | 664,166 | ||||
| Gross profit | 378,735 | 330,510 | ||||
| Selling, General and Administrative Expense | 215,407 | 206,071 | ||||
| Restructuring Charges | 2,306 | 1,875 | ||||
| Income from operations | [1],[2] | 161,022 | 122,564 | |||
| Net interest expense and deferred financing amortization, net | 29,462 | 17,654 | ||||
| Net periodic pension benefit (other than service costs) | (2,251) | (11,516) | ||||
| Other (income) expense, net | 1,896 | 4,061 | ||||
| Earnings before income taxes | 131,915 | 112,365 | ||||
| Provision for income taxes | 32,826 | 26,610 | ||||
| Net earnings | $ 99,089 | $ 85,755 | ||||
| Net earnings per share: | ||||||
| Earnings Per Share, Basic | $ 1.85 | $ 1.57 | ||||
| Earnings Per Share, Diluted | $ 1.82 | $ 1.52 | ||||
| Weighted average number of shares | ||||||
| Basic (in shares) | 53,594,000 | 54,669,000 | ||||
| Dilutive common stock equivalents (in shares) | 783,000 | 1,694,000 | ||||
| Diluted (in shares) | 54,377,000 | 56,363,000 | ||||
| Comprehensive income | $ 114,918 | $ 97,272 | ||||
| ||||||
MIDD Balance Sheet
2023-04-01CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Apr. 01, 2023 | Dec. 31, 2022 |
|---|---|---|
| Current assets: | ||
| Cash and cash equivalents | $ 156,524 | $ 162,001 |
| Accounts receivable, net of reserve for doubtful accounts of $22,137 and $20,295 | 652,949 | 631,134 |
| Inventories, net | 1,116,364 | 1,077,729 |
| Prepaid expenses and other | 123,808 | 125,640 |
| Prepaid Taxes | 10,874 | 9,492 |
| Total current assets | 2,060,519 | 2,005,996 |
| Property, plant and equipment, net of accumulated depreciation of $307,662 and $299,572 | 461,728 | 443,528 |
| Goodwill | 2,429,167 | 2,411,834 |
| Other intangibles | 1,791,062 | 1,794,232 |
| Long-term deferred tax assets | 7,042 | 6,738 |
| Other assets | 206,619 | 212,538 |
| Total assets | 6,956,137 | 6,874,866 |
| Current liabilities: | ||
| Current maturities of long-term debt | 44,247 | 45,583 |
| Accounts payable | 282,032 | 271,374 |
| Accrued expenses | 664,030 | 671,327 |
| Total current liabilities | 990,309 | 988,284 |
| Long-term debt | 2,688,417 | 2,676,741 |
| Deferred Income Tax Liabilities, Net | 218,377 | 220,204 |
| Liability, Defined Benefit Pension Plan, Noncurrent | 11,789 | 14,948 |
| Other non-current liabilities | 185,046 | 176,942 |
| Stockholders' equity: | ||
| Preferred stock, $0.01 par value; nonvoting; 2,000,000 shares authorized; none issued | 0 | 0 |
| Common stock, $0.01 par value; 63,840,330 and 63,508,855 shares issued in 2023 and 2022, respectively | 147 | 147 |
| Cumulative Effect Period of Adoption ASU 2020-06, Paid-in capital | 425,781 | 408,376 |
| Treasury stock, at cost; 10,288,676 and 9,814,480 shares in 2023 and 2022 | (899,047) | (831,176) |
| Cumulative Effect Period of Adoptions ASU 2020-06, Retained earnings | 3,597,961 | 3,498,872 |
| Accumulated other comprehensive loss | (262,643) | (278,472) |
| Total stockholders' equity | 2,862,199 | 2,797,747 |
| Total liabilities and stockholders' equity | $ 6,956,137 | $ 6,874,866 |