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Reflecting On Professional Tools and Equipment Stocks’ Q1 Earnings: Middleby (NASDAQ:MIDD)
Wed 21 May 25, 03:32 AMMiddleby's Q1 Earnings Surpass Estimates While Revenues Miss
Thu 08 May 25, 03:39 PMMiddleby First Quarter 2025 Earnings: Misses Expectations
Thu 08 May 25, 12:26 PMThe Middleby Corp (MIDD) Q1 2025 Earnings Call Highlights: Record Cash Flows and Strategic ...
Thu 08 May 25, 07:21 AMQ1 2025 Middleby Corp Earnings Call
Thu 08 May 25, 07:05 AMHere's What Key Metrics Tell Us About Middleby (MIDD) Q1 Earnings
Wed 07 May 25, 01:30 PMMiddleby (MIDD) Q1 Earnings Beat Estimates
Wed 07 May 25, 12:20 PMMiddleby (NASDAQ:MIDD) Misses Q1 Revenue Estimates
Wed 07 May 25, 12:07 PMMiddleby (MIDD) Q1 Earnings: What To Expect
Tue 06 May 25, 07:14 AM| Breakdown | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Income before tax | 564.41M | 619.50M | 268.06M | 462.62M | 423.51M |
| Minority interest | - | - | - | - | - |
| Net income | 436.57M | 488.49M | 207.29M | 352.24M | 317.15M |
| Selling general administrative | 797.23M | 667.98M | 531.90M | 583.81M | 538.84M |
| Selling and marketing expenses | - | - | - | - | - |
| Gross profit | 1446.55M | 1194.86M | 882.05M | 1103.50M | 1004.14M |
| Reconciled depreciation | 138.06M | 125.24M | 110.53M | 103.43M | 97.24M |
| Ebit | 639.60M | 448.31M | 324.43M | 514.04M | 404.35M |
| Ebitda | 663.11M | 573.55M | 372.39M | 550.99M | 501.59M |
| Depreciation and amortization | 23.50M | 125.24M | 47.96M | 36.94M | 97.24M |
| Non operating income net other | -28.89300M | 1.60M | -3.07100M | 2.33M | -1.82500M |
| Operating income | 639.60M | 448.31M | 324.43M | 514.04M | 445.97M |
| Other operating expenses | 3383.53M | 2723.91M | 2163.11M | 2439.65M | 2257.63M |
| Interest expense | 88.98M | 57.16M | 78.62M | 82.61M | 58.74M |
| Tax provision | 127.85M | 131.01M | 60.76M | 110.38M | 106.36M |
| Interest income | - | - | - | - | - |
| Net interest income | -88.97700M | -57.15700M | -78.61700M | -82.60900M | -58.74200M |
| Extraordinary items | - | - | - | - | - |
| Non recurring | 9.72M | 7.66M | 27.70M | -4.35900M | 19.33M |
| Other items | - | - | - | - | - |
| Income tax expense | 127.85M | 131.01M | 60.76M | 110.38M | 106.36M |
| Total revenue | 4032.85M | 3250.79M | 2513.26M | 2959.45M | 2722.93M |
| Total operating expenses | 797.23M | 667.98M | 531.90M | 583.70M | 538.84M |
| Cost of revenue | 2586.30M | 2055.93M | 1631.21M | 1855.95M | 1718.79M |
| Total other income expense net | -75.18900M | 171.19M | -56.37400M | -51.42400M | 16.96M |
| Discontinued operations | - | - | - | - | - |
| Net income from continuing ops | 436.57M | 488.49M | 207.29M | 352.24M | 317.15M |
| Net income applicable to common shares | 436.57M | 488.49M | 207.29M | 352.24M | 317.15M |
| Preferred stock and other adjustments | - | - | - | - | - |
| Breakdown | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Total assets | 6906.69M | 6874.87M | 6383.60M | 5202.47M | 5002.14M |
| Intangible assets | 1693.08M | 1794.23M | 1875.38M | 1450.38M | 1443.38M |
| Earning assets | - | - | - | - | - |
| Other current assets | 90.85M | 135.13M | 92.27M | 81.05M | 61.22M |
| Total liab | 3656.80M | 4077.12M | 3889.32M | 3225.82M | 3055.33M |
| Total stockholder equity | 3249.89M | 2797.75M | 2494.28M | 1976.65M | 1946.81M |
| Deferred long term liab | - | 220.20M | 186.94M | 147.22M | 133.50M |
| Other current liab | 434.09M | 485.50M | 449.54M | 400.67M | 342.04M |
| Common stock | 0.15M | 0.15M | 0.15M | 0.15M | 0.14M |
| Capital stock | 0.15M | 0.15M | 0.15M | 0.15M | 0.14M |
| Retained earnings | 3899.75M | 3498.87M | 3062.30M | 2568.76M | 2361.46M |
| Other liab | - | 331.85M | 587.43M | 818.91M | 491.81M |
| Good will | 2486.31M | 2411.83M | 2243.47M | 1934.26M | 1849.75M |
| Other assets | - | 58.78M | 176.69M | 202.86M | 49.19M |
| Cash | 247.50M | 162.00M | 180.36M | 268.10M | 94.50M |
| Cash and equivalents | - | - | - | - | - |
| Total current liabilities | 851.09M | 988.28M | 914.89M | 700.26M | 593.14M |
| Current deferred revenue | 118.68M | 185.82M | 133.31M | 93.87M | 74.51M |
| Net debt | 2291.67M | 2560.32M | 2233.93M | 1461.49M | 1778.64M |
| Short term debt | 71.24M | 45.58M | 27.29M | 22.94M | 2.89M |
| Short long term debt | 44.82M | 45.58M | 27.29M | 22.94M | 2.89M |
| Short long term debt total | 2539.16M | 2722.32M | 2414.29M | 1729.60M | 1873.14M |
| Other stockholder equity | -426.81500M | -422.80000M | -209.09000M | -103.82600M | -63.86000M |
| Property plant equipment | - | 443.53M | 380.98M | 344.48M | 352.14M |
| Total current assets | 1965.86M | 2006.00M | 1707.09M | 1270.49M | 1209.20M |
| Long term investments | - | - | - | - | 1.83M |
| Net tangible assets | - | -1408.31900M | -1624.57000M | -1407.99300M | -1346.31400M |
| Short term investments | 2.90M | - | - | - | - |
| Net receivables | 691.65M | 631.13M | 577.14M | 363.36M | 447.61M |
| Long term debt | 2380.37M | 2676.74M | 2387.00M | 1706.65M | 1870.25M |
| Inventory | 935.87M | 1077.73M | 837.42M | 540.20M | 585.70M |
| Accounts payable | 227.08M | 271.37M | 304.74M | 182.77M | 173.69M |
| Total permanent equity | - | - | - | - | - |
| Noncontrolling interest in consolidated entity | - | - | - | - | - |
| Temporary equity redeemable noncontrolling interests | - | - | - | - | - |
| Accumulated other comprehensive income | -223.19800M | -278.47200M | -359.08400M | -488.42800M | -350.93300M |
| Additional paid in capital | - | - | - | - | - |
| Common stock total equity | - | 0.15M | 0.15M | 0.15M | 0.14M |
| Preferred stock total equity | - | - | - | - | - |
| Retained earnings total equity | - | 3498.87M | 3062.30M | 2568.76M | 2361.46M |
| Treasury stock | - | -831.17600M | -566.39900M | -537.13400M | -451.30000M |
| Accumulated amortization | - | - | - | - | - |
| Non currrent assets other | 93.35M | 212.54M | 143.49M | 126.81M | 110.74M |
| Deferred long term asset charges | - | - | - | - | - |
| Non current assets total | 4940.83M | 4868.87M | 4676.51M | 3931.98M | 3792.95M |
| Capital lease obligations | 26.42M | 25.25M | 22.75M | 22.49M | 21.83M |
| Long term debt total | - | 2676.74M | 2387.00M | 1706.65M | 1870.25M |
| Breakdown | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Investments | -229.67500M | -348.31900M | -1008.86100M | -106.75700M | -327.66700M |
| Change to liabilities | - | -9.09000M | 97.58M | 17.05M | -28.76200M |
| Total cashflows from investing activities | - | -348.31900M | -1008.86100M | -106.75700M | -327.66700M |
| Net borrowings | - | 290.28M | 592.47M | -58.24600M | -17.65300M |
| Total cash from financing activities | -390.93900M | 7.63M | 502.79M | -252.46800M | -25.44500M |
| Change to operating activities | - | 33.45M | 47.10M | 20.85M | 5.70M |
| Net income | 400.88M | 436.57M | 488.49M | 207.29M | 352.24M |
| Change in cash | 85.50M | -188.49800M | -87.74100M | 173.60M | 22.80M |
| Begin period cash flow | 162.00M | 180.36M | 268.10M | 94.50M | 71.70M |
| End period cash flow | 247.50M | -8.13600M | 180.36M | 268.10M | 94.50M |
| Total cash from operating activities | 628.79M | 332.55M | 423.40M | 524.78M | 377.43M |
| Issuance of capital stock | - | - | - | - | - |
| Depreciation | 125.40M | 138.06M | 125.24M | 110.53M | 103.43M |
| Other cashflows from investing activities | - | -281.03000M | -962.31000M | -71.90800M | -281.05800M |
| Dividends paid | - | - | - | - | - |
| Change to inventory | 157.87M | -196.31300M | -204.16700M | 66.69M | -28.28800M |
| Change to account receivables | -4.62400M | -28.39200M | -99.89000M | 90.40M | -27.74800M |
| Sale purchase of stock | -74.56500M | -264.77700M | -29.26500M | -85.87200M | -6.14400M |
| Other cashflows from financing activities | -7.91200M | 1852.13M | 1669.44M | 3179.22M | 541.65M |
| Change to netincome | - | 39.60M | 48.43M | 60.98M | 30.34M |
| Capital expenditures | 86.98M | 69.52M | 51.55M | 41.90M | 46.61M |
| Change receivables | - | -28.39200M | -99.89000M | 90.40M | -27.74800M |
| Cash flows other operating | - | -47.88200M | -32.28900M | -24.53200M | -23.79000M |
| Exchange rate changes | - | - | -5.06800M | 8.04M | -1.51400M |
| Cash and cash equivalents changes | - | -8.13600M | -87.74100M | 173.60M | 22.80M |
| Change in working capital | -23.91000M | -238.99600M | -195.62400M | 174.92M | -79.73100M |
| Stock based compensation | 51.05M | 58.37M | 42.33M | 19.61M | 8.13M |
| Other non cash items | 77.78M | -54.80800M | -43.90500M | -3.99800M | -28.85700M |
| Free cash flow | 541.81M | 263.03M | 371.85M | 482.88M | 330.82M |
Sector: Industrials Industry: Specialty Industrial Machinery
| Company | Change (USD) | Price (USD) | Trailing PE (x) | Forward PE (x) | Price Sales TTM (x) | Price to Book Value (x) | Enterprise Value to Revenue (x) | Enterprise Value to EBITDA (x) |
|---|---|---|---|---|---|---|---|---|
| MIDD Middleby Corp |
0.58 0.39% | 150.46 | 17.14 | 14.18 | 1.94 | 2.41 | 2.48 | 12.98 |
| SIEGY Siemens AG ADR |
3.48 2.67% | 133.93 | 17.07 | 15.75 | 1.88 | 2.76 | 2.37 | 11.38 |
| SMAWF Siemens AG Class N |
-1.68 0.62% | 268.82 | 16.98 | 15.53 | 1.83 | 2.72 | 2.35 | 11.32 |
| GE GE Aerospace |
4.59 1.43% | 326.52 | 12.87 | 26.60 | 1.61 | 4.69 | 1.61 | 8.43 |
| SBGSY Schneider Electric SA |
0.66 1.14% | 58.79 | 25.90 | 20.92 | 3.12 | 3.98 | 3.50 | 17.37 |
The Middleby Corporation designs, markets, manufactures, distributes, and services foodservice, food processing, and residential kitchen equipment worldwide. Its Commercial Foodservice Equipment Group segment offers conveyor, combi, convection, baking, proofing, deck, speed cooking, and hydrovection ovens; ranges, fryers, and rethermalizers; steam cooking, food warming, catering, induction cooking, and countertop cooking equipment; heated cabinets, charbroilers, ventless cooking systems, kitchen ventilation, toasters, griddles, charcoal grills, professional mixers, stainless steel fabrication, custom millwork, professional refrigerators, blast chillers, cold rooms, ice machines, and freezers; soft serve ice cream, coffee and beverage dispensing, home and professional craft brewing equipment; and fry dispensers, bottle filling and canning equipment, IoT solutions, and controls development and manufacturing. The company's Food Processing Equipment Group segment provides batch, baking, proofing, conveyor belt, and continuous processing ovens; frying and automated thermal processing systems; tumblers, massagers, grinders, slicers, reduction and emulsion systems, mixers, and blenders; battering, breading, and seeding equipment; water cutting systems, food presses, food suspension equipment, filling and depositing solutions, and forming equipment; and automated washing systems, auto-guided vehicles, food safety, food handling, freezing, and defrosting and packaging equipment. Its Residential Kitchen Equipment Group segment offers kitchen equipment comprising cookers, stoves, cooktops, microwaves, ovens, refrigerators, dishwashers, undercounter refrigeration, wine cellars, ice machines, beer dispensers, mixers, rotisseries, and ventilation and outdoor cooking equipment. The company was formerly known as Middleby Marshall Oven Company and changed its name to The Middleby Corporation in 1985. The company was founded in 1888 and is based in Elgin, Illinois.
1400 Toastmaster Drive, Elgin, IL, United States, 60120
| Name | Title | Year Born |
|---|---|---|
| Mr. Timothy J. FitzGerald | CEO & Director | 1970 |
| Mr. Bryan E. Mittelman | Chief Financial Officer | 1971 |
| Mr. James K. Pool III | Chief Technology & Operations Officer | 1972 |
| Mr. Martin M. Lindsay | Treasurer, Sec. and Chief Risk & Admin. Officer | 1965 |
| Mr. Steven P. Spittle | Chief Commercial Officer | 1981 |
| Mr. Partha Biswas | Division Pres of Middleby India & Global Chief Information Officer | NA |
| Darcy Bretz | Director of Corp. Communications | NA |
| Mr. Selim A. Bassoul | Consultant | 1957 |
| Mr. David Abi | Pres of CookTek and Pres of Carter-Hoffmann, Doyon & Nu-Vu | NA |
| Mr. George F. Koether | Group Pres of business operations in Asia | NA |
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