The Middleby Corp

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MIDD : NASDAQ : Industrial Goods
$141.75 -0.63 | -0.44%
Today's Range: 141.0 - 142.82
Avg. Daily Volume: 461700.0
12/09/16 - 3:06 PM ET

Financial Analysis

MIDDLEBY CORP's gross profit margin for the third quarter of its fiscal year 2016 is essentially unchanged when compared to the same period a year ago. The company has grown sales and net income significantly, outpacing the average growth rates of competitors within its industry. MIDDLEBY CORP has weak liquidity. Currently, the Quick Ratio is 0.80 which shows a lack of ability to cover short-term cash needs. The company's liquidity has increased from the same period last year, indicating improving cash flow.

During the same period, stockholders' equity ("net worth") has increased by 18.70% 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 FY16 Q3 FY15
Net Sales ($mil)574.22449.0
EBITDA ($mil)135.76104.9
EBIT ($mil)122.5993.08
Net Income ($mil)75.8548.83

Balance Sheet Q3 FY16 Q3 FY15
Cash & Equiv. ($mil)61.7855.06
Total Assets ($mil)2915.472710.78
Total Debt ($mil)833.32754.9
Equity ($mil)1346.461134.31

Profitability Q3 FY16 Q3 FY15
Gross Profit Margin42.6542.09
EBITDA Margin23.6423.36
Operating Margin21.3520.73
Sales Turnover0.760.64
Return on Assets8.697.12
Return on Equity18.8317.02
Debt Q3 FY16 Q3 FY15
Current Ratio1.711.59
Interest Expense6.444.22
Interest Coverage19.0422.04

Share Data Q3 FY16 Q3 FY15
Shares outstanding (mil)57.5457.32
Div / share0.00.0
Book value / share23.419.79
Institutional Own % n/a n/a
Avg Daily Volume444605.0363341.0


BUY. MIDDLEBY CORP's P/E ratio indicates a premium compared to an average of 28.59 for the Machinery industry and a premium compared to the S&P 500 average of 25.22. Conducting a second comparison, its price-to-book ratio of 5.88 indicates a significant premium versus the S&P 500 average of 2.79 and a premium versus the industry average of 4.39. 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.

1 2 3 4 5
premium   discount
  Price/Cash Flow
1 2 3 4 5
premium   discount
MIDD 30.90 Peers 28.59   MIDD 30.73 Peers 14.23

Average. An average P/E ratio can signify an industry neutral price for a stock and an average growth expectation.

MIDD is trading at a valuation on par with 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.

1 2 3 4 5
premium   discount
  Price to
1 2 3 4 5
premium   discount
MIDD 24.34 Peers 23.74   MIDD 0.72 Peers 3.05

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 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.

1 2 3 4 5
premium   discount
  Earnings Growth
1 2 3 4 5
lower   higher
MIDD 5.88 Peers 4.39   MIDD 31.26 Peers -24.59

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.

1 2 3 4 5
premium   discount
  Sales Growth
1 2 3 4 5
premium   discount
MIDD 3.59 Peers 1.91   MIDD 27.72 Peers -4.95

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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