The Middleby Corp

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MIDD : NASDAQ : Industrial Goods
$139.59 up 0.46 | 0.33%
Today's Range: 139.0 - 142.0
Avg. Daily Volume: 332200.0
04/25/17 - 3:55 PM ET

Financial Analysis


MIDDLEBY CORP's gross profit margin for the fourth quarter of its fiscal year 2016 is essentially unchanged when compared to the same period a year ago. The company managed to grow both sales and net income at a faster pace than the average competitor in its industry this quarter as compared to the same quarter a year ago. MIDDLEBY CORP has weak liquidity. Currently, the Quick Ratio is 0.81 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 8.44% 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 Q4 FY16 Q4 FY15
Net Sales ($mil)596.82534.71
EBITDA ($mil)142.7109.66
EBIT ($mil)128.8889.56
Net Income ($mil)80.9450.29


Balance Sheet Q4 FY16 Q4 FY15
Cash & Equiv. ($mil)68.4955.53
Total Assets ($mil)2917.142761.15
Total Debt ($mil)732.13766.06
Equity ($mil)1265.321166.83


Profitability Q4 FY16 Q4 FY15
Gross Profit Margin42.3940.95
EBITDA Margin23.9120.5
Operating Margin21.5916.75
Sales Turnover0.780.66
Return on Assets9.746.93
Return on Equity22.4616.42
Debt Q4 FY16 Q4 FY15
Current Ratio1.661.56
Debt/Capital0.370.4
Interest Expense6.114.95
Interest Coverage21.1118.11


Share Data Q4 FY16 Q4 FY15
Shares outstanding (mil)57.5457.31
Div / share0.00.0
EPS1.410.88
Book value / share21.9920.36
Institutional Own % n/a n/a
Avg Daily Volume334802.0494771.0

Valuation


BUY. The current P/E ratio indicates a discount compared to an average of 28.75 for the Machinery industry and a premium compared to the S&P 500 average of 24.92. Conducting a second comparison, its price-to-book ratio of 6.25 indicates a significant premium versus the S&P 500 average of 2.99 and a premium versus the industry average of 4.91. 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 27.60 Peers 28.75   MIDD 26.89 Peers 16.02

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.

 
Price/Projected
Earnings
1 2 3 4 5
premium   discount
  Price to
Earnings/Growth
1 2 3 4 5
premium   discount
MIDD 21.82 Peers 22.38   MIDD 1.91 Peers 1.78

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.

 

Average. 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 valuation on par to its peers.

 
Price/Book
1 2 3 4 5
premium   discount
  Earnings Growth
1 2 3 4 5
lower   higher
MIDD 6.25 Peers 4.91   MIDD 48.21 Peers -12.39

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 3.49 Peers 1.97   MIDD 24.15 Peers -1.56

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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