MIDD · Middleby Corp - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $3.20B | $3.88B | $4.04B | $4.03B | $3.25B | $2.51B |
| Cost of Revenue | $1.95B | $2.40B | $2.50B | $2.59B | $2.06B | $1.63B |
| Gross Profit | $1.25B | $1.47B | $1.53B | $1.45B | $1.19B | $882.05M |
| R&D | $58.80M | $57.70M | $53.10M | $48.90M | $41.80M | $35.30M |
| SG&A | $663.16M | $762.50M | $806.95M | $797.23M | $667.98M | $531.90M |
| Total Operating Expenses | - | - | - | - | - | - |
| D&A | $105.31M | $127.17M | $132.60M | $138.06M | $125.24M | $110.53M |
| Operating Income | $574.89M | $656.19M | $634.87M | $639.60M | $629.99M | $324.43M |
| Interest Expense | - | - | - | - | - | - |
| Income Tax | $115.01M | $148.89M | $118.50M | $127.85M | $131.01M | $60.76M |
| Net Income | ($277.73M) | $428.43M | $400.88M | $436.57M | $488.49M | $207.29M |
| EPS - Basic | ($5.38) | $7.97 | $7.48 | $8.07 | $8.85 | $3.76 |
| EPS - Diluted | ($5.32) | $7.90 | $7.41 | $7.95 | $8.62 | $3.76 |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $222.24M | $689.53M | $247.50M | $162.00M | $180.36M | $268.10M |
| Accounts Receivable | $573.04M | $643.36M | $644.58M | $631.13M | $577.14M | $363.36M |
| Inventory | $692.59M | $841.57M | $935.87M | $1.08B | $837.42M | $540.20M |
| Accounts Payable | $206.67M | $208.91M | $227.08M | $271.37M | $304.74M | $182.77M |
| Current Assets | $2.74B | $2.33B | $1.97B | $2.01B | $1.71B | $1.27B |
| Total Assets | $6.32B | $7.28B | $6.91B | $6.87B | $6.38B | $5.20B |
| Current Liabilities | $1.07B | $829.32M | $851.09M | $988.28M | $914.89M | $700.26M |
| Long-term Debt | $2.13B | $2.35B | $2.38B | $2.68B | $2.39B | $1.71B |
| Total Liabilities | - | - | - | - | - | - |
| Stockholders' Equity | $2.78B | $3.64B | $3.25B | $2.80B | $2.49B | $1.98B |
| Retained Earnings | $4.05B | $4.33B | $3.90B | $3.50B | $3.06B | $2.57B |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $630.20M | $686.82M | $628.79M | $332.55M | $423.40M | $524.78M |
| Investing Cash Flow | ($126.89M) | ($158.53M) | ($155.74M) | ($348.32M) | ($1.01B) | ($106.76M) |
| Financing Cash Flow | ($970.94M) | ($73.77M) | ($390.94M) | $7.63M | $502.79M | ($252.47M) |
| CapEx | $70.73M | $49.31M | $85.18M | $67.29M | $46.55M | $34.85M |
| Free Cash Flow | $559.47M | $637.51M | $543.61M | $265.26M | $376.85M | $489.94M |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 39.1% | 37.9% | 38.0% | 35.9% | 36.8% | 35.1% |
| Operating margin | 18.0% | 16.9% | 15.7% | 15.9% | 19.4% | 12.9% |
| EBITDA margin | 21.2% | 20.2% | 19.0% | 19.3% | 23.2% | 17.3% |
| Net margin | -8.7% | 11.1% | 9.9% | 10.8% | 15.0% | 8.2% |
| Free cash flow margin | 17.5% | 16.5% | 13.5% | 6.6% | 11.6% | 19.5% |
| FCF / Net income | -2.01 | 1.49 | 1.36 | 0.61 | 0.77 | 2.36 |
| R&D / Revenue | 1.8% | 1.5% | 1.3% | 1.2% | 1.3% | 1.4% |
| SG&A / Revenue | 20.7% | 19.7% | 20.0% | 19.8% | 20.5% | 21.2% |
| Effective tax rate | - | 25.8% | 22.8% | 22.7% | 21.1% | 22.7% |
| Return on assets | -4.4% | 5.9% | 5.8% | 6.4% | 7.7% | 4.0% |
| Return on equity | -10.0% | 11.8% | 12.3% | 15.6% | 19.6% | 10.5% |
| Return on invested capital | 9.3% | 8.1% | 8.7% | 9.0% | 10.2% | 6.8% |
| Liquidity | ||||||
| Current ratio | 2.57 | 2.81 | 2.31 | 2.03 | 1.87 | 1.81 |
| Quick ratio | 1.92 | 1.79 | 1.21 | 0.94 | 0.95 | 1.04 |
| Cash ratio | 0.21 | 0.83 | 0.29 | 0.16 | 0.20 | 0.38 |
| Leverage | ||||||
| Debt / Equity | 0.77 | 0.65 | 0.73 | 0.96 | 0.96 | 0.86 |
| Debt / Assets | 0.34 | 0.32 | 0.34 | 0.39 | 0.37 | 0.33 |
| Debt / EBITDA | 3.13 | 3.00 | 3.10 | 3.44 | 3.16 | 3.92 |
| Interest coverage | - | - | - | - | - | - |
| Equity multiplier | 2.27 | 2.00 | 2.13 | 2.46 | 2.56 | 2.63 |
| Liabilities / Assets | - | - | - | - | - | - |
| Efficiency | ||||||
| Asset turnover | 0.51 | 0.53 | 0.58 | 0.59 | 0.51 | 0.48 |
| Inventory turnover | 2.81 | 2.86 | 2.67 | 2.40 | 2.46 | 3.02 |
| Days sales outstanding | 65d | 61d | 58d | 57d | 65d | 53d |
| Days inventory outstanding | 130d | 128d | 136d | 152d | 149d | 121d |
| Days payable outstanding | 39d | 32d | 33d | 38d | 54d | 41d |
| Cash conversion cycle | 156d | 157d | 162d | 171d | 159d | 133d |
| Valuation | ||||||
| P / E | - | 17.1x | 19.9x | 16.8x | 22.8x | 34.3x |
| P / B | 2.8x | 2.0x | 2.4x | 2.6x | 4.5x | 3.6x |
| P / S | 2.5x | 1.9x | 2.0x | 1.8x | 3.4x | 2.8x |
| EV / EBITDA | 14.4x | 11.5x | 13.2x | 12.7x | 17.7x | 19.6x |
| Growth | ||||||
| Revenue growth (YoY) | -17.4% | -4.0% | 0.1% | 24.1% | 29.3% | 7.6% |
| Revenue CAGR (3y) | -7.4% | 6.0% | 17.1% | 20.0% | 6.1% | 2.5% |
| Revenue CAGR (5y) | 5.0% | 10.7% | 8.2% | 11.5% | 7.5% | 6.6% |
| Gross profit growth (YoY) | -14.9% | -4.2% | 6.0% | 21.1% | 35.5% | -20.1% |
| Operating income growth (YoY) | -12.4% | 3.4% | -0.7% | 1.5% | 94.2% | -36.9% |
| Net income growth (YoY) | - | 6.9% | -8.2% | -10.6% | 135.7% | -41.1% |
| EPS growth (YoY) | - | 6.6% | -6.8% | -7.8% | 129.3% | -40.6% |
| EPS CAGR (3y) | - | -2.9% | 25.4% | 7.9% | 14.8% | -10.6% |
| EPS CAGR (5y) | - | 4.5% | 5.4% | 8.6% | 11.6% | 2.3% |
| FCF growth (YoY) | -12.2% | 17.3% | 104.9% | -29.6% | -23.1% | 48.1% |
| FCF CAGR (5y) | 2.7% | 14.0% | 10.3% | 1.2% | 7.0% | 16.6% |
| Book value growth (YoY) | -23.7% | 12.0% | 16.2% | 12.2% | 26.2% | 1.5% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2026-01-03.
Business segments
$3.20B totalCommercial Foodservice Equipment Group$2.35B · 73.4%
Food Processing Group$850.15M · 26.6%
Geographic
$2.35B totalUnited States And Canada$1.68B · 71.5%
Europe And Middle East$371.91M · 15.8%
Asia$214.21M · 9.1%
Latin America$82.97M · 3.5%
Stability scores
Piotroski F-score
FY 2025 · 9-point quality
5/9
Neutral
- ✗Net income positive
- ✓Operating cash flow positive
- ✗ROA improved YoY
- ✓Cash flow > net income
- ✓Long-term debt decreased
- ✗Current ratio improved
- ✓No share dilution
- ✓Gross margin improved
- ✗Asset turnover improved
Peer comparison
Same SIC group: Refrigeration & Service Industry Machinery
Comparing MIDDLEBY Corp against the 5 most active filers in the same SIC group.
Dividends
$0.00/share trailing 12 months
| Ex-date | Per share |
|---|---|
| Jun 2, 2004 | $0.0667 |
| Nov 7, 2003 | $0.0417 |
| Dec 18, 2000 | $0.0167 |