Middleby Corp (MIDD)

The Middleby Corporation operates in the foodservice industry worldwide. The company develops and manufactures a line of solutions used in commercial foodservice and food processing. It offers conveyor, combi, convection, baking, proofing, deck, speed cooking, and hydrovection ovens; ranges, fryers, and rethermalizers; steam cooking, food warming, catering, induction, and countertop cooking equipment; heated cabinets, charbroilers, ventless cooking systems, kitchen ventilation, toasters, griddles, charcoal grills, professional mixers and refrigerators, stainless steel fabrication, custom millwork, blast chillers, coldrooms, ice machines, and frozen dessert equipment; soft serve ice cream, coffee and beverage dispensing, home and professional craft brewing equipment; and fry dispenser, bottle filling and canning equipment, IoT solutions, and controls development and manufacturing. The company was formerly known as Middleby Marshall Oven Company and changed its name to The Middleby Corporation in 1985. The Middleby Corporation was founded in 1888 and is based in Elgin, Illinois.

Ticker: MIDD
Exchange: Nasdaq
Sector: Industrials
Industry: Specialty Industrial Machinery
Market cap: $6.19B
52-week range: $89.16 - $148.55

Valuation

Share price: $136.50 (close of Nov 6, 2026)
P/E (TTM): -14.74x
Price to book: 2.80x
Price to free cash flow: 12.83x
Enterprise value: $8.03B
Book value per share: $48.76

Price performance

Period	Change
1 day	+4.89%
5 days	+14.75%
1 month	+28.87%
3 months	+2.42%
6 months	+19.07%
Year to date	+14.12%
1 year	+41.32%
3 years	+45.91%
5 years	-8.76%
10 years	+48.40%
All time	+22,030.82%

Short interest

As of: Oct 15, 2026
Short % of float: 4.47%
Shares short: 1.56M
Days to cover: 3.03
Change since prior report: -8.09%
Source: FINRA consolidated short interest

Members of Congress who disclosed MIDD trades

April McClain Delaney · Lisa McClain

Super investors holding MIDD

John Rogers (Ariel Investments LLC) · Ken Griffin (Citadel) · George Soros (Soros Fund Mgmt) · Robert Olstein (Olstein Capital Management) · Ray Dalio (Bridgewater Associates)

Profitability and growth

Return on equity: -10.00%
Return on invested capital: 9.26%
Return on assets: -4.40%
Return on capital employed: 10.96%
Gross margin: 39.11%
Net margin: -8.68%
EBITDA margin: 21.25%
Revenue growth: 1.62%
Net income growth: -164.82%
Free cash flow growth: -13.94%

Cash flow and balance sheet

Free cash flow yield (TTM): 7.79%
Current ratio: 1.99x
Net debt to EBITDA: 2.71x

Latest reported year

Period end: Jan 3, 2026
Fiscal year: 2025
Revenue: $3.20B
Cost of revenue: $1.95B
Gross profit: $1.25B
EBITDA: $680.20M
Net income: -$277.73M
Earnings per share: $-5.38
Research and development: $58.80M
Interest expense: $93.83M
Shares outstanding: 51.66M

Income statement by year

Period end	Revenue	Gross profit	Net income	EPS
2026-01-03	$3.20B	$1.25B	-$277.73M	-$5.38
2024-12-28	$3.15B	$1.25B	$428.43M	$7.97
2023-12-30	$3.24B	$1.28B	$400.88M	$7.48
2022-12-31	$4.03B	$1.45B	$436.57M	$8.07
2022-01-01	$3.25B	$1.19B	$488.49M	$8.85
2021-01-02	$2.51B	$882.05M	$207.29M	$3.76
2019-12-28	$2.96B	$1.10B	$352.24M	$6.33
2018-12-29	$2.72B	$1.00B	$317.15M	$5.71
2017-12-30	$2.34B	$912.74M	$298.13M	$5.26
2016-12-31	$2.27B	$901.18M	$284.22M	$4.98

Margins and returns by year

Period end	Gross margin	Net margin	Return on equity	Return on capital
2026-01-03	39.11%	-8.68%	-10.00%	9.26%
2024-12-28	39.74%	13.60%	11.78%	8.25%
2023-12-30	39.61%	12.36%	12.34%	9.28%
2022-12-31	35.87%	10.83%	15.60%	9.23%
2022-01-01	36.76%	15.03%	19.58%	9.97%
2021-01-02	35.10%	8.25%	10.49%	6.93%
2019-12-28	37.29%	11.90%	18.09%	10.31%
2018-12-29	36.88%	11.65%	19.05%	9.55%
2017-12-30	39.08%	12.76%	21.90%	12.27%
2016-12-31	39.74%	12.53%	22.46%	14.11%

Cash and debt by year

Period end	Cash	Debt
2026-01-03	$222.24M	$2.13B
2024-12-28	$638.77M	$2.35B
2023-12-30	$247.50M	$2.38B
2022-12-31	$162.00M	$2.68B
2022-01-01	$180.36M	$2.39B
2021-01-02	$268.10M	$1.71B
2019-12-28	$94.50M	$1.87B
2018-12-29	$71.70M	$1.89B
2017-12-30	$89.65M	$1.02B
2016-12-31	$68.48M	$726.24M

Free cash flow by year

Period end	Free cash flow	Stock-based compensation
2026-01-03	$559.47M	$13.46M
2024-12-28	$650.13M	$31.90M
2023-12-30	$569.62M	$45.16M
2022-12-31	$265.26M	$58.37M
2022-01-01	$376.85M	$42.33M
2021-01-02	$489.94M	$19.61M
2019-12-28	$330.82M	$8.13M
2018-12-29	$332.87M	$2.50M
2017-12-30	$249.96M	$6.24M
2016-12-31	$269.29M	$27.91M

Dividend history

Most recent payment: Jun 2, 2004

Payment date	Dividend per share
2004-06-02	$0.40
2003-11-07	$0.25
2000-12-18	$0.10
1991-02-26	$0.02
1990-11-14	$0.02
1990-08-16	$0.02
1990-05-17	$0.02
1990-03-05	$0.02

Investor relations

Past earnings dates

Reported	Fiscal period	EPS estimate
2026-11-05	Sep 2026	$1.74
2026-08-11	Jun 2026	$2.28
2026-05-07	Mar 2026	$1.94
2026-02-26	Dec 2025	$2.27
2025-11-06	Sep 2025	$2.03
2025-08-06	Jun 2025	$2.20
2025-05-07	Mar 2025	$1.94
2025-02-25	Dec 2024	$2.50

Filings and sources

Company website: middleby.com
SEC filings: 10-K, 10-Q and 8-K on EDGAR
Earnings calendar: All upcoming reports

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