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The Middleby Corp
MIDD : NASDAQ : Industrial Goods
$82.55 | %
Today's Range: 0.00 - 0.00
Avg. Daily Volume: 522,800
02/10/16 - 3:59 PM ET

Financial Analysis


MIDDLEBY CORP's gross profit margin for the third quarter of its fiscal year 2015 is essentially unchanged when compared to the same period a year ago. Even though sales increased, the net income has decreased. MIDDLEBY CORP has weak liquidity. Currently, the Quick Ratio is 0.68 which shows a lack of ability to cover short-term cash needs. The liquidity decreased from the same period a year ago, despite already having weak liquidity to begin with. This would indicate deteriorating cash flow.

During the same period, stockholders' equity ("net worth") has increased by 17.78% from the same quarter last year. Overall, the key liquidity measurements indicate that the company is in a position in which financial difficulties could develop in the future.

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Income Statement Q3 FY15 Q3 FY14
Net Sales ($mil)449.0404.29
EBITDA ($mil)104.990.69
EBIT ($mil)93.0880.07
Net Income ($mil)48.8359.71


Balance Sheet Q3 FY15 Q3 FY14
Cash & Equiv. ($mil)55.0638.15
Total Assets ($mil)2710.781913.92
Total Debt ($mil)754.9515.38
Equity ($mil)1134.31963.02


Profitability Q3 FY15 Q3 FY14
Gross Profit Margin42.0942.79
EBITDA Margin23.3622.43
Operating Margin20.7319.81
Sales Turnover0.640.82
Return on Assets7.1210.0
Return on Equity17.0219.88
Debt Q3 FY15 Q3 FY14
Current Ratio1.591.83
Debt/Capital0.40.35
Interest Expense4.223.9
Interest Coverage22.0420.56


Share Data Q3 FY15 Q3 FY14
Shares outstanding (mil)57.3257.26
Div / share0.00.0
EPS0.861.05
Book value / share19.7916.82
Institutional Own % n/a n/a
Avg Daily Volume560052.0324686.0

Valuation


BUY. MIDDLEBY CORP's P/E ratio indicates a premium compared to an average of 18.15 for the Machinery industry and a premium compared to the S&P 500 average of 21.13. Conducting a second comparison, its price-to-book ratio of 4.42 indicates a significant premium versus the S&P 500 average of 2.51 and a premium versus the industry average of 3.22. The price-to-sales ratio is well above both the S&P 500 average and the industry average, indicating a premium. Upon assessment of these and other key valuation criteria, MIDDLEBY CORP proves to trade at a premium to investment alternatives within the industry.


Price/Earnings
1 2 3 4 5
premium   discount
  Price/Cash Flow
1 2 3 4 5
premium   discount
MIDD 25.82 Peers 18.15   MIDD 21.16 Peers 11.17

Premium. A higher P/E ratio than its peers can signify a more expensive stock or higher growth expectations.

MIDD is trading at a significant premium to its peers.

 

Premium. The P/CF ratio, a stock’s price divided by the company's cash flow from operations, is useful for comparing companies with different capital requirements or financing structures.

MIDD is trading at a significant premium to its peers.

 
Price/Projected
Earnings
1 2 3 4 5
premium   discount
  Price to
Earnings/Growth
1 2 3 4 5
premium   discount
MIDD 19.16 Peers 16.17   MIDD 1.95 Peers 4.22

Premium. A higher price-to-projected earnings ratio than its peers can signify a more expensive stock or higher future growth expectations.

MIDD is trading at a significant premium to its peers.

 

Discount. The PEG ratio is the stock’s P/E divided by the consensus estimate of long-term earnings growth. Faster growth can justify higher price multiples.

MIDD trades at a significant discount to its peers.

 
Price/Book
1 2 3 4 5
premium   discount
  Earnings Growth
1 2 3 4 5
lower   higher
MIDD 4.42 Peers 3.22   MIDD 0.69 Peers -14.18

Premium. A higher price-to-book ratio makes a stock less attractive to investors seeking stocks with lower market values per dollar of equity on the balance sheet.

MIDD is trading at a significant premium to its peers.

 

Higher. Elevated earnings growth rates can lead to capital appreciation and justify higher price-to-earnings ratios.

MIDD is expected to have an earnings growth rate that significantly exceeds its peers.

 
Price/Sales
1 2 3 4 5
premium   discount
  Sales Growth
1 2 3 4 5
premium   discount
MIDD 2.91 Peers 1.35   MIDD 9.36 Peers -5.74

Premium. In the absence of P/E and P/B multiples, the price-to-sales ratio can display the value investors are placing on each dollar of sales.

MIDD is trading at a significant premium to its industry.

 

Higher. A sales growth rate that exceeds the industry implies that a company is gaining market share.

MIDD has a sales growth rate that significantly exceeds its peers.

 

 

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