The Middleby Corp.

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MIDD : NASDAQ : Producer Manufacturing
$134.35 | %
Today's Range: 132.29 - 134.98
Avg. Daily Volume: 455100.0
02/23/18 - 4:00 PM ET

Financial Analysis


MIDDLEBY CORP's gross profit margin for the third quarter of its fiscal year 2017 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 0.90 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 remained virtually unchanged only decreasing by 2.59% 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 FY17 Q3 FY16
Net Sales ($mil)593.04574.22
EBITDA ($mil)139.44135.76
EBIT ($mil)122.48122.59
Net Income ($mil)74.6775.85


Balance Sheet Q3 FY17 Q3 FY16
Cash & Equiv. ($mil)81.7361.78
Total Assets ($mil)3201.142915.47
Total Debt ($mil)950.71833.32
Equity ($mil)1311.51346.46


Profitability Q3 FY17 Q3 FY16
Gross Profit Margin41.3942.65
EBITDA Margin23.5123.64
Operating Margin20.6521.35
Sales Turnover0.720.76
Return on Assets9.498.69
Return on Equity23.1718.83
Debt Q3 FY17 Q3 FY16
Current Ratio1.931.71
Debt/Capital0.420.38
Interest Expense6.526.45
Interest Coverage18.7819.01


Share Data Q3 FY17 Q3 FY16
Shares outstanding (mil)55.9157.54
Div / share0.00.0
EPS1.311.33
Book value / share23.4623.4
Institutional Own % n/a n/a
Avg Daily Volume503312.0566602.0

Valuation


BUY. The current P/E ratio indicates a significant discount compared to an average of 81.54 for the Machinery industry and a value on par with the S&P 500 average of 25.51. For additional comparison, its price-to-book ratio of 5.67 indicates a significant premium versus the S&P 500 average of 3.26 and a discount versus the industry average of 5.71. 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 discount 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 25.06 Peers 81.54   MIDD 23.21 Peers 20.81

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

MIDD is trading at a significant 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 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 21.50 Peers 19.76   MIDD 3.04 Peers 1.69

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.

 

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 significant premium to its peers.

 
Price/Book
1 2 3 4 5
premium   discount
  Earnings Growth
1 2 3 4 5
lower   higher
MIDD 5.67 Peers 5.71   MIDD 19.32 Peers 192.95

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.

 

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

However, MIDD is expected to significantly trail its peers on the basis of its earnings growth rate.

 
Price/Sales
1 2 3 4 5
premium   discount
  Sales Growth
1 2 3 4 5
premium   discount
MIDD 3.24 Peers 2.24   MIDD 4.25 Peers 11.16

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.

 

Lower. A sales growth rate that trails the industry implies that a company is losing market share.

MIDD significantly trails its peers on the basis of sales growth

 

 

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