The Middleby Corp

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MIDD : NASDAQ : Industrial Goods
$123.47 | %
Today's Range: 0.0 - 0.0
Avg. Daily Volume: 374900.0
06/28/17 - 4:00 PM ET

Financial Analysis


MIDDLEBY CORP's gross profit margin for the first quarter of its fiscal year 2017 is essentially unchanged when compared to the same period a year ago. The company has grown sales and net income during the past quarter when compared with the same quarter a year ago, however, it was unable to keep up with the growth of the average competitor within its industry. MIDDLEBY CORP has weak liquidity. Currently, the Quick Ratio is 0.85 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 8.11% 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 Q1 FY17 Q1 FY16
Net Sales ($mil)530.3516.36
EBITDA ($mil)116.86101.91
EBIT ($mil)102.886.98
Net Income ($mil)70.754.54


Balance Sheet Q1 FY17 Q1 FY16
Cash & Equiv. ($mil)76.5855.68
Total Assets ($mil)2943.032777.94
Total Debt ($mil)728.61763.12
Equity ($mil)1323.731224.34


Profitability Q1 FY17 Q1 FY16
Gross Profit Margin42.1541.0
EBITDA Margin22.0319.73
Operating Margin19.3916.85
Sales Turnover0.780.7
Return on Assets10.27.48
Return on Equity22.6916.98
Debt Q1 FY17 Q1 FY16
Current Ratio1.861.61
Debt/Capital0.360.38
Interest Expense5.815.28
Interest Coverage17.7116.49


Share Data Q1 FY17 Q1 FY16
Shares outstanding (mil)57.5357.54
Div / share0.00.0
EPS1.240.96
Book value / share23.0121.28
Institutional Own % n/a n/a
Avg Daily Volume368958.0337337.0

Valuation


BUY. This stock's P/E ratio indicates a discount compared to an average of 27.69 for the Machinery industry and a discount compared to the S&P 500 average of 25.75. Conducting a second comparison, its price-to-book ratio of 5.30 indicates a significant premium versus the S&P 500 average of 3.09 and a premium versus the industry average of 4.97. The price-to-sales ratio is well above both the S&P 500 average and the industry average, indicating a premium.


Price/Earnings
1 2 3 4 5
premium   discount
  Price/Cash Flow
1 2 3 4 5
premium   discount
MIDD 23.20 Peers 27.69   MIDD 21.51 Peers 16.06

Discount. A lower P/E ratio than its peers can signify a less expensive stock or lower growth expectations.

MIDD is trading at a discount 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 19.29 Peers 21.87   MIDD 1.52 Peers 1.28

Average. An average price-to-projected earnings ratio can signify an industry neutral stock price and average future growth expectations.

MIDD is trading at a valuation on par with its peers.

 

Premium. 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 premium to its peers.

 
Price/Book
1 2 3 4 5
premium   discount
  Earnings Growth
1 2 3 4 5
lower   higher
MIDD 5.30 Peers 4.97   MIDD 44.10 Peers 24.09

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

MIDD is trading at a valuation on par with 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 3.08 Peers 2.05   MIDD 17.83 Peers 12.90

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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