Cash flow The Middleby Corporation

Equities

MIDD

US5962781010

Industrial Machinery & Equipment

Market Closed - Nasdaq Other stock markets 04:00:00 2026-05-15 pm EDT			5-day change	1st Jan Change
143.58 ^USD	-2.35%		-12.81%	-3.42%

May. 15	The Middleby Corporation - Analyst/Investor Day
May. 11	The Middleby Corporation Announces the Launch of Midera Food Processing to Operate Under the Name Midera Food Processing, Inc	CI

1ee6afef35b2929d036651d5fee2fd28.H3oqfbyDKwJwEWuUC0iOuvqpMI0oRkkpxPKVmivQBVc.Lz0cKNLoZUQcc17gYx_I08_LSsx4Nht2ssSm2Fq-UWFQF0FMyeRYNCZwBA

Published financial data: THE MIDDLEBY CORPORATION

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: January	2021	2022	2023	2024	2025
Revenues	3.25B	4.03B	4.04B	3.88B	3.2B
Total Revenues	3.25B	4.03B	4.04B	3.88B	3.2B
Cost of Goods Sold, Total	2.06B	2.59B	2.5B	2.4B	1.95B
Gross Profit	1.19B	1.45B	1.53B	1.47B	1.25B
Selling General & Admin Expenses, Total	603M	755M	794M	738M	651M
Amortization of Goodwill and Intangible Assets - (IS)	-	-	5.6M	12.3M	4.9M
Other Operating Expenses, Total	603M	755M	800M	751M	656M
Operating Income	592M	692M	734M	720M	596M
Interest Expense, Total	-57.16M	-88.98M	-120M	-92.23M	-93.83M
Net Interest Expenses	-57.16M	-88.98M	-120M	-92.23M	-93.83M
Currency Exchange Gains (Loss)	300K	-28.6M	-10.9M	-1M	-9.4M
Other Non Operating Income (Expenses)	1.3M	-293K	4.49M	-236K	1.22M
EBT, Excl. Unusual Items	536M	574M	607M	626M	494M
Restructuring Charges	-7.66M	-9.72M	-14.13M	-14.18M	-3.27M
Merger & Related Restructuring Charges	90.3M	-	-	-	-
Gain (Loss) On Sale Of Assets	763K	-	-	1.14M	-
Asset Writedown	-	-	-78.11M	-38.64M	-10.6M
Legal Settlements	-	-	-	-	-
Other Unusual Items	-	-	4.37M	2.85M	2.34M
EBT, Incl. Unusual Items	620M	564M	519M	577M	482M
Income Tax Expense	131M	128M	118M	149M	115M
Earnings From Continuing Operations	488M	437M	401M	428M	367M
Earnings Of Discontinued Operations	-	-	-	-	-645M
Net Income to Company	488M	437M	401M	428M	-278M
Net Income - (IS)	488M	437M	401M	428M	-278M
Net Income to Common Incl Extra Items	488M	437M	401M	428M	-278M
Net Income to Common Excl. Extra Items	488M	437M	401M	428M	367M
Per Share Items
Net EPS - Basic	8.85	8.07	7.48	7.97	-5.38
Basic EPS - Continuing Operations	8.85	8.07	7.48	7.97	7.11
Basic Weighted Average Shares Outstanding	55.22M	54.1M	53.58M	53.74M	51.66M
Net EPS - Diluted	8.62	7.95	7.41	7.9	-5.32
Diluted EPS - Continuing Operations	8.62	7.95	7.41	7.9	7.04
Diluted Weighted Average Shares Outstanding	56.66M	54.95M	54.09M	54.21M	52.18M
Normalized Basic EPS	6.07	6.63	7.08	7.28	5.97
Normalized Diluted EPS	5.91	6.53	7.02	7.22	5.91
Supplemental Items
EBITDA	710M	823M	859M	840M	695M
EBITA	667M	778M	809M	784M	651M
EBIT	592M	692M	734M	720M	596M
EBITDAR	742M	859M	899M	879M	723M
Effective Tax Rate - (Ratio)	21.15	22.65	22.81	25.79	23.85
Total Current Taxes	124M	134M	121M	113M	44.86M
Total Deferred Taxes	6.86M	-6.64M	-2.4M	35.88M	70.14M
Normalized Net Income	335M	359M	380M	391M	309M
Interest on Long-Term Debt	10.94M	11.06M	11.04M	11.01M	7.47M
Non-Cash Pension Expense	-45.07M	-42.68M	-9.07M	-14.9M	-6.29M
Supplemental Operating Expense Items
Selling and Marketing Expenses	-	-	-	-	-
General and Administrative Expenses	-	-	-	-	-
Research And Development Expense From Footnotes	41.8M	48.9M	53.1M	57.7M	58.8M
Net Rental Expense, Total	31.5M	35.7M	39.6M	39.3M	27.7M
Imputed Operating Lease Interest Expense	6.53M	9.48M	14.21M	11.46M	8.72M
Imputed Operating Lease Depreciation	24.97M	26.22M	25.39M	27.84M	18.98M
Stock-Based Comp., SG&A Exp. (Total)	42.33M	58.37M	-	-	-
Stock-Based Comp., Other (Total)	-	-	51.05M	36.15M	13.46M
Total Stock-Based Compensation	42.33M	58.37M	51.05M	36.15M	13.46M

Fiscal Period: January	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	180M	162M	247M	690M	222M
Trading Asset Securities, Total	-	6.8M	2.9M	1.99M	1.52M
Total Cash And Short Term Investments	180M	169M	250M	692M	224M
Accounts Receivable, Total	599M	672M	692M	711M	630M
Total Receivables	599M	672M	692M	711M	630M
Inventory	837M	1.08B	936M	842M	693M
Prepaid Expenses	90.57M	87.89M	87.95M	85.58M	93.78M
Other Current Assets, Total	-	-	-	-	1.1B
Total Current Assets	1.71B	2.01B	1.97B	2.33B	2.74B
Gross Property Plant And Equipment	741M	845M	960M	1.02B	853M
Accumulated Depreciation	-266M	-300M	-340M	-377M	-311M
Net Property Plant And Equipment	474M	546M	620M	647M	542M
Long-term Investments	3.64M	58.18M	39.88M	27.97M	9.71M
Goodwill	2.24B	2.41B	2.49B	2.52B	1.8B
Other Intangibles, Total	1.88B	1.79B	1.69B	1.61B	1.06B
Deferred Tax Assets Long-Term	33.19M	6.74M	7.94M	6.28M	8.21M
Other Long-Term Assets, Total	46.46M	52.04M	93.35M	142M	152M
Total Assets	6.38B	6.87B	6.91B	7.28B	6.32B
Liabilities
Accounts Payable, Total	305M	271M	227M	209M	207M
Accrued Expenses, Total	334M	346M	316M	294M	271M
Current Portion of Long-Term Debt	28.46M	45.58M	44.82M	43.95M	44.42M
Current Portion of Leases	22.75M	25.25M	26.42M	27.94M	19.52M
Unearned Revenue Current, Total	133M	186M	119M	121M	168M
Other Current Liabilities	91.17M	114M	118M	134M	358M
Total Current Liabilities	915M	988M	851M	829M	1.07B
Long-Term Debt	2.41B	2.68B	2.38B	2.35B	2.13B
Long-Term Leases	74.2M	80.24M	87.55M	98.04M	94.26M
Unearned Revenue Non Current	11.6M	12.5M	15.72M	19.93M	20.99M
Pension & Other Post Retirement Benefits	220M	14.95M	12.13M	9.57M	7.63M
Deferred Tax Liability Non Current	187M	220M	216M	252M	157M
Other Non Current Liabilities	74.55M	84.2M	93.79M	84.67M	62.53M
Total Liabilities	3.89B	4.08B	3.66B	3.64B	3.54B
Common Stock, Total	147K	147K	148K	148K	153K
Additional Paid In Capital	357M	408M	479M	520M	603M
Retained Earnings	3.06B	3.5B	3.9B	4.33B	4.05B
Treasury Stock	-566M	-831M	-906M	-941M	-1.74B
Comprehensive Income and Other	-359M	-278M	-223M	-269M	-142M
Total Common Equity	2.49B	2.8B	3.25B	3.64B	2.78B
Total Equity	2.49B	2.8B	3.25B	3.64B	2.78B
Total Liabilities And Equity	6.38B	6.87B	6.91B	7.28B	6.32B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	54.66M	53.61M	53.6M	53.62M	47.18M
ECS Total Common Shares Outstanding	55.5M	53.69M	53.6M	53.69M	48.92M
Book Value / Share	44.95	52.11	60.63	67.77	56.75
Tangible Book Value	-1.62B	-1.41B	-929M	-491M	-84.61M
Tangible Book Value Per Share	-29.27	-26.23	-17.34	-9.14	-1.73
Total Debt	2.53B	2.83B	2.54B	2.52B	2.29B
Net Debt	2.35B	2.66B	2.29B	1.83B	2.06B
Debt Equivalent of Unfunded Proj. Benefit Obligation	220M	14.95M	-26.41M	-81.63M	-98.82M
Debt Equivalent Oper. Leases	252M	286M	317M	314M	222M
Account Code - Inventory Valuation	5	5	5	5	5
Inventories - Raw Materials, Total	421M	595M	495M	453M	404M
Inventories - Work In Process, Total	65.58M	86.08M	80.1M	76.6M	93.33M
Inventories - Finished Goods, Total	350M	396M	360M	312M	195M
Land - (BS)	54.48M	65.79M	73.06M	74.16M	60.36M
Buildings, Total	271M	306M	347M	373M	328M
Machinery, Total	322M	371M	431M	456M	355M
Full Time Employees	10.62K	11.27K	10.72K	10.62K	8.83K
Accumulated Allowance for Doubtful Accounts (Supple)	18.77M	20.3M	23.46M	24.6M	25M
Order Backlog	1.51B	1.24B	758M	630M	670M

Fiscal Period: January	2021	2022	2023	2024	2025
Net Income	488M	437M	401M	428M	-278M
Depreciation & Amortization - CF	42.68M	44.62M	50.42M	55.61M	43.74M
Amortization of Goodwill and Intangible Assets - (CF)	75.8M	86.3M	75M	64.4M	55.3M
Depreciation & Amortization, Total	118M	131M	125M	120M	99.04M
Amortization of Deferred Charges, Total - (CF)	6.76M	7.14M	7.19M	7.16M	6.26M
(Gain) Loss From Sale Of Asset	-763K	-	-	-1.14M	-
Asset Writedown & Restructuring Costs	1.92M	-	78.11M	38.64M	10.6M
Stock-Based Compensation (CF)	42.33M	58.37M	51.05M	36.15M	13.46M
Net Cash From Discontinued Operations	-	-	-	-	711M
Other Operating Activities, Total	-38.2M	-61.45M	-9.95M	21.62M	63.72M
Change In Accounts Receivable	-99.89M	-28.39M	-4.62M	11.98M	-14.47M
Change In Inventories	-204M	-196M	158M	95.41M	3.07M
Change In Accounts Payable	61.34M	-47.74M	-49.37M	-21.94M	18.07M
Change in Other Net Operating Assets	47.1M	33.45M	-128M	-49.51M	-2.44M
Cash from Operations	423M	333M	629M	687M	630M
Capital Expenditure	-46.55M	-67.29M	-85.18M	-49.31M	-70.73M
Sale of Property, Plant, and Equipment	6.29M	-	-	2.51M	-
Cash Acquisitions	-964M	-279M	-68.76M	-112M	-31.98M
Sale (Purchase) of Intangible assets	-5M	-2.23M	-1.8M	-80K	-1.11M
Other Investing Activities, Total	-	-	-	-	-23.07M
Cash from Investing	-1.01B	-348M	-156M	-159M	-127M
Long-Term Debt Issued, Total	1.74B	1.87B	640M	-	1.13B
Total Debt Issued	1.74B	1.87B	640M	-	1.13B
Long-Term Debt Repaid, Total	-1.14B	-1.58B	-949M	-35.01M	-1.35B
Total Debt Repaid	-1.14B	-1.58B	-949M	-35.01M	-1.35B
Repurchase of Common Stock	-29.26M	-265M	-74.56M	-34.66M	-724M
Other Financing Activities, Total	-69.66M	-17.87M	-7.91M	-4.1M	-23.05M
Cash from Financing	503M	7.63M	-391M	-73.77M	-971M
Foreign Exchange Rate Adjustments	-5.07M	-10.22M	3.39M	-12.48M	22.55M
Net Change in Cash	-87.74M	-18.36M	85.5M	442M	-445M
Supplemental Items
Cash Interest Paid	50.6M	77.2M	119M	97.7M	104M
Cash Income Tax Paid (Refund)	126M	114M	140M	117M	79.11M
Levered Free Cash Flow	149M	247M	464M	561M	-232M
Unlevered Free Cash Flow	178M	296M	532M	611M	-180M
Change In Net Working Capital	301M	257M	15.87M	-54.52M	593M
Net Debt Issued / Repaid	602M	290M	-308M	-35.01M	-224M

Fiscal Period: January	2021	2022	2023	2024	2025
Profitability
Return on Assets	6.38	6.52	6.66	6.34	5.48
Return on Total Capital	8.33	8.12	8.04	7.53	6.66
Return On Equity %	21.85	16.5	13.26	12.44	11.45
Return on Common Equity	21.85	16.5	13.26	12.44	11.45
Margin Analysis
Gross Profit Margin %	36.76	35.87	38	37.94	39.11
SG&A Margin	18.56	18.71	19.68	19.06	20.34
EBITDA Margin %	21.84	20.41	21.29	21.67	21.71
EBITA Margin %	20.53	19.3	20.04	20.23	20.34
EBIT Margin %	18.2	17.16	18.18	18.57	18.61
Income From Continuing Operations Margin %	15.03	10.83	9.93	11.06	11.47
Net Income Margin %	15.03	10.83	9.93	11.06	-8.68
Net Avail. For Common Margin %	15.03	10.83	9.93	11.06	11.47
Normalized Net Income Margin	10.31	8.9	9.4	10.1	9.64
Levered Free Cash Flow Margin	4.57	6.13	11.5	14.47	-7.25
Unlevered Free Cash Flow Margin	5.46	7.33	13.19	15.77	-5.62
Asset Turnover
Asset Turnover	0.56	0.61	0.59	0.55	0.47
Fixed Assets Turnover	7.1	7.91	6.92	6.12	6.35
Receivables Turnover (Average Receivables)	6.62	6.35	5.92	5.52	5.24
Inventory Turnover (Average Inventory)	2.98	2.7	2.49	2.71	2.89
Short Term Liquidity
Current Ratio	1.87	2.03	2.31	2.81	2.57
Quick Ratio	0.85	0.85	1.11	1.69	0.8
Operating Cash Flow to Current Liabilities	0.46	0.34	0.74	0.83	0.59
Days Sales Outstanding (Average Receivables)	55	57.33	61.46	65.89	70.79
Days Outstanding Inventory (Average Inventory)	121.95	134.77	146.44	134.52	128.33
Average Days Payable Outstanding	37.71	37.09	38.43	34.34	34.83
Cash Conversion Cycle (Average Days)	139.25	155	169.48	166.07	164.3
Long Term Solvency
Total Debt/Equity	101.55	101.07	78.13	69.29	82.37
Total Debt / Total Capital	50.38	50.27	43.86	40.93	45.17
LT Debt/Equity	99.49	98.54	75.94	67.31	80.07
Long-Term Debt / Total Capital	49.37	49.01	42.63	39.76	43.9
Total Liabilities / Total Assets	60.93	59.3	52.95	50.04	56.04
EBIT / Interest Expense	10.35	7.78	6.1	7.8	6.35
EBITDA / Interest Expense	12.98	9.65	7.47	9.53	7.7
(EBITDA - Capex) / Interest Expense	12.16	8.89	6.76	9	6.95
Total Debt / EBITDA	3.42	3.29	2.82	2.87	3.16
Net Debt / EBITDA	3.17	3.1	2.55	2.08	2.86
Total Debt / (EBITDA - Capex)	3.64	3.57	3.12	3.04	3.51
Net Debt / (EBITDA - Capex)	3.38	3.36	2.81	2.21	3.17
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	29.35	24.06	0.09	-4	1.62
Gross Profit, 1 Yr. Growth %	35.46	21.06	4.79	-4.15	0.01
EBITDA, 1 Yr. Growth %	42.53	15.88	4.77	-2.31	-9.78
EBITA, 1 Yr. Growth %	45.37	16.61	4.3	-3.09	-10.86
EBIT, 1 Yr. Growth %	51.65	16.96	6.48	-1.96	-11.5
Earnings From Cont. Operations, 1 Yr. Growth %	135.65	-10.63	-8.17	6.87	-12.76
Net Income, 1 Yr. Growth %	135.65	-10.63	-8.17	6.87	-164.82
Normalized Net Income, 1 Yr. Growth %	73.8	7.09	3.52	3.11	-14.98
Diluted EPS Before Extra, 1 Yr. Growth %	129.26	-7.77	-6.79	6.61	-9.4
Accounts Receivable, 1 Yr. Growth %	56.05	12.17	2.99	2.85	6.5
Inventory, 1 Yr. Growth %	55.02	28.7	-13.16	-10.08	5.59
Net Property, Plant and Equip., 1 Yr. Growth %	7.4	15.07	13.64	4.33	15.95
Total Assets, 1 Yr. Growth %	22.7	7.7	0.46	5.45	-13.29
Tangible Book Value, 1 Yr. Growth %	15.38	-13.31	-34	-47.19	-110.65
Common Equity, 1 Yr. Growth %	26.19	12.17	16.16	11.96	-23.7
Cash From Operations, 1 Yr. Growth %	-19.32	-21.46	89.08	9.23	-8.24
Capital Expenditures, 1 Yr. Growth %	33.58	44.55	26.59	-42.11	92.77
Levered Free Cash Flow, 1 Yr. Growth %	-68.74	66.21	89.17	20.72	-148.83
Unlevered Free Cash Flow, 1 Yr. Growth %	-65.46	66.4	81.12	14.78	-134.14
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	4.81	26.67	11.43	-1.97	-0.63
Gross Profit, 2 Yr. CAGR %	4.06	28.06	13.31	0.3	-1.26
EBITDA, 2 Yr. CAGR %	4.41	28.52	11.57	0.1	-5.06
EBITA, 2 Yr. CAGR %	4.3	30.2	11.76	-0.59	-5.83
EBIT, 2 Yr. CAGR %	3.76	33.18	13.29	0.88	-5.57
Earnings From Cont. Operations, 2 Yr. CAGR %	17.76	45.12	-9.41	-0.94	-5.7
Net Income, 2 Yr. CAGR %	17.76	45.12	-9.41	-0.94	-16.77
Normalized Net Income, 2 Yr. CAGR %	6.89	36.43	8.44	3.09	-4.62
Diluted EPS Before Extra, 2 Yr. CAGR %	16.7	45.41	-7.28	-0.32	-4.01
Accounts Receivable, 2 Yr. CAGR %	12.83	32.3	7.48	2.92	-4.55
Inventory, 2 Yr. CAGR %	19.57	41.25	5.71	-11.63	-13.97
Net Property, Plant and Equip., 2 Yr. CAGR %	2.81	11.17	14.35	8.88	-6.56
Total Assets, 2 Yr. CAGR %	12.97	14.95	4.02	2.93	-4.38
Tangible Book Value, 2 Yr. CAGR %	9.85	0.01	-24.36	-40.96	-69.83
Common Equity, 2 Yr. CAGR %	13.19	18.97	14.15	14.04	-7.57
Cash From Operations, 2 Yr. CAGR %	5.92	-20.4	21.86	43.71	0.11
Capital Expenditures, 2 Yr. CAGR %	-0.06	38.96	35.27	-14.4	9.33
Levered Free Cash Flow, 2 Yr. CAGR %	-22.04	-27.92	84.53	47.82	-25.67
Unlevered Free Cash Flow, 2 Yr. CAGR %	-22.36	-24.19	79.45	41.54	-39.35
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	6.08	10.87	17.11	6.03	-7.41
Gross Profit, 3 Yr. CAGR %	5.97	9.44	20.26	7.16	-5.03
EBITDA, 3 Yr. CAGR %	5.77	8.11	19.93	6.74	-6.05
EBITA, 3 Yr. CAGR %	5.75	8.25	20.78	6.57	-6.38
EBIT, 3 Yr. CAGR %	5.47	7.99	23.45	7.96	-5.55
Earnings From Cont. Operations, 3 Yr. CAGR %	15.49	7.42	24.59	-4.28	-5.6
Net Income, 3 Yr. CAGR %	15.49	7.42	24.59	-4.28	-14
Normalized Net Income, 3 Yr. CAGR %	6.5	6.96	25.33	6.63	-5.72
Diluted EPS Before Extra, 3 Yr. CAGR %	14.78	7.89	25.37	-2.87	-3.97
Accounts Receivable, 3 Yr. CAGR %	13.17	12.61	21.7	5.91	-2.1
Inventory, 3 Yr. CAGR %	17.08	22.54	20.1	0.16	-13.7
Net Property, Plant and Equip., 3 Yr. CAGR %	14.67	6.74	11.98	10.91	-0.26
Total Assets, 3 Yr. CAGR %	11.95	11.18	9.91	4.49	-2.79
Tangible Book Value, 3 Yr. CAGR %	4.13	1.51	-12.93	-32.9	-60.83
Common Equity, 3 Yr. CAGR %	14.42	12.85	18.03	13.41	-0.26
Cash From Operations, 3 Yr. CAGR %	4.7	-4.13	6.21	17.5	23.75
Capital Expenditures, 3 Yr. CAGR %	8.91	13.02	34.7	1.94	1.68
Levered Free Cash Flow, 3 Yr. CAGR %	-18.67	0.34	-0.79	60.19	-3.27
Unlevered Free Cash Flow, 3 Yr. CAGR %	-17.09	0.1	1.16	54.61	-16.15
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	7.47	11.54	8.19	5.54	4.96
Gross Profit, 5 Yr. CAGR %	5.8	9.65	8.85	5.91	7.25
EBITDA, 5 Yr. CAGR %	6.64	8.61	7.45	5.21	6.88
EBITA, 5 Yr. CAGR %	6.52	8.62	7.47	5.03	7.24
EBIT, 5 Yr. CAGR %	5.31	7.76	7.8	5.54	8.84
Earnings From Cont. Operations, 5 Yr. CAGR %	11.44	7.93	4.8	3.99	12.12
Net Income, 5 Yr. CAGR %	11.44	7.93	4.8	3.99	6.02
Normalized Net Income, 5 Yr. CAGR %	4.42	5.02	6.47	5.94	9.87
Diluted EPS Before Extra, 5 Yr. CAGR %	11.6	8.63	5.39	4.53	13.36
Accounts Receivable, 5 Yr. CAGR %	12.11	15.38	10.86	8.63	10.43
Inventory, 5 Yr. CAGR %	17.86	20.48	12.39	7.52	5.1
Net Property, Plant and Equip., 5 Yr. CAGR %	16.44	14.13	14.54	7.59	4.16
Total Assets, 5 Yr. CAGR %	16.96	15.53	8.71	7.8	3.95
Tangible Book Value, 5 Yr. CAGR %	25.42	15.54	-8.37	-18.27	-43.01
Common Equity, 5 Yr. CAGR %	14.54	15.5	14.31	13.32	7.03
Cash From Operations, 5 Yr. CAGR %	7.56	1.78	11.25	12.72	3.73
Capital Expenditures, 5 Yr. CAGR %	13.41	4.31	18.77	1.13	15.21
Levered Free Cash Flow, 5 Yr. CAGR %	-14.89	5.41	10.94	18.04	-13.36
Unlevered Free Cash Flow, 5 Yr. CAGR %	-12.57	7.63	11.31	15.7	-18.96