InsiderClue
Stocks · Industrials · Refrigeration & Service Industry Machinery

MIDDLEBY Corp

MIDD Clue Score40
United States Fiscal year ends January CIK 0000769520
$105.95 +0.52% Close, 9 Oct 2026
Alert on the numbers Alert on insider trades
Price $105.95 −36.54% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue2,267.9Operating income419.0Net income284.2EPS, diluted4.98Fiscal year 2017Revenue2,335.5 +3.0%Operating income378.6Net income298.1 +4.9%EPS, diluted5.26 +5.6%Fiscal year 2018Revenue2,722.9 +16.6%Operating income446.0Net income317.2 +6.4%EPS, diluted5.70 +8.4%Fiscal year 2019Revenue2,959.4 +8.7%Operating income514.0Net income352.2 +11.1%EPS, diluted6.33 +11.1%Fiscal year 2021Revenue2,513.3 −15.1%Operating income324.4Net income207.3 −41.1%EPS, diluted3.76 −40.6%Fiscal year 2022Revenue3,250.8 +29.3%Operating income630.0Net income488.5 +135.7%EPS, diluted8.62 +129.3%Fiscal year 2022Revenue4,032.9 +24.1%Operating income639.6Net income436.6 −10.6%EPS, diluted7.95 −7.8%Fiscal year 2023Revenue3,242.1 −19.6%Operating income652.4Net income400.9 −8.2%EPS, diluted7.41 −6.8%Fiscal year 2024Revenue3,150.2 −2.8%Operating income644.1Net income428.4 +6.9%EPS, diluted7.90 +6.6%Fiscal year 2026Revenue3,201.2 +1.6%Operating income574.9Net income−277.7 −164.8%EPS, diluted−5.32 −167.3%
FY2016FY2017FY2018FY2019FY2021FY2022FY2022FY2023FY2024FY2026
Revenue 2,267.9 2,335.5 2,722.9 2,959.4 2,513.3 3,250.8 4,032.9 3,242.1 3,150.2 3,201.2
Growth +3.0% +16.6% +8.7% −15.1% +29.3% +24.1% −19.6% −2.8% +1.6%
Operating income 419.0 378.6 446.0 514.0 324.4 630.0 639.6 652.4 644.1 574.9
Net income 284.2 298.1 317.2 352.2 207.3 488.5 436.6 400.9 428.4 −277.7
Growth +4.9% +6.4% +11.1% −41.1% +135.7% −10.6% −8.2% +6.9% −164.8%
EPS, diluted 4.98 5.26 5.70 6.33 3.76 8.62 7.95 7.41 7.90 −5.32
Growth +5.6% +8.4% +11.1% −40.6% +129.3% −7.8% −6.8% +6.6% −167.3%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2016Gross margin39.7%Operating margin18.5%Net margin12.5%Free cash flow margin11.9%Fiscal year 2017Gross margin39.1%Operating margin16.2%Net margin12.8%Free cash flow margin10.7%Fiscal year 2018Gross margin36.9%Operating margin16.4%Net margin11.6%Free cash flow margin12.2%Fiscal year 2019Gross margin37.3%Operating margin17.4%Net margin11.9%Free cash flow margin11.2%Fiscal year 2021Gross margin35.1%Operating margin12.9%Net margin8.2%Free cash flow margin19.5%Fiscal year 2022Gross margin36.8%Operating margin19.4%Net margin15.0%Free cash flow margin11.6%Fiscal year 2022Gross margin35.9%Operating margin15.9%Net margin10.8%Free cash flow margin6.6%Fiscal year 2023Gross margin39.6%Operating margin20.1%Net margin12.4%Free cash flow margin17.6%Fiscal year 2024Gross margin39.7%Operating margin20.4%Net margin13.6%Free cash flow margin20.6%Fiscal year 2026Gross margin39.1%Operating margin18.0%Net margin−8.7%Free cash flow margin17.5%
FY2016FY2017FY2018FY2019FY2021FY2022FY2022FY2023FY2024FY2026
Gross margin 39.7% 39.1% 36.9% 37.3% 35.1% 36.8% 35.9% 39.6% 39.7% 39.1%
Operating margin 18.5% 16.2% 16.4% 17.4% 12.9% 19.4% 15.9% 20.1% 20.4% 18.0%
Net margin 12.5% 12.8% 11.6% 11.9% 8.2% 15.0% 10.8% 12.4% 13.6% −8.7%
Free cash flow margin 11.9% 10.7% 12.2% 11.2% 19.5% 11.6% 6.6% 17.6% 20.6% 17.5%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow294.1Capital expenditure−24.8Free cash flow269.3Buybacks−4.4Fiscal year 2017Operating cash flow304.5Capital expenditure−54.5Free cash flow250.0 −7.2%Buybacks−239.8Fiscal year 2018Operating cash flow368.9Capital expenditure−36.0Free cash flow332.9 +33.2%Buybacks0.0Fiscal year 2019Operating cash flow377.4Capital expenditure−46.6Free cash flow330.8 −0.6%Buybacks−6.1Fiscal year 2021Operating cash flow524.8Capital expenditure−34.8Free cash flow489.9 +48.1%Buybacks−85.9Fiscal year 2022Operating cash flow423.4Capital expenditure−46.6Free cash flow376.8 −23.1%Buybacks−29.3Fiscal year 2022Operating cash flow332.6Capital expenditure−67.3Free cash flow265.3 −29.6%Buybacks−264.8Fiscal year 2023Operating cash flow628.8Capital expenditure−59.2Free cash flow569.6 +114.7%Buybacks−74.6Fiscal year 2024Operating cash flow686.8Capital expenditure−36.7Free cash flow650.1 +14.1%Buybacks−34.7Fiscal year 2026Operating cash flow630.2Capital expenditure−70.7Free cash flow559.5 −13.9%Buybacks−723.6
FY2016FY2017FY2018FY2019FY2021FY2022FY2022FY2023FY2024FY2026
Operating cash flow 294.1 304.5 368.9 377.4 524.8 423.4 332.6 628.8 686.8 630.2
Capital expenditure −24.8 −54.5 −36.0 −46.6 −34.8 −46.6 −67.3 −59.2 −36.7 −70.7
Free cash flow 269.3 250.0 332.9 330.8 489.9 376.8 265.3 569.6 650.1 559.5
Growth −7.2% +33.2% −0.6% +48.1% −23.1% −29.6% +114.7% +14.1% −13.9%
Buybacks −4.4 −239.8 0.0 −6.1 −85.9 −29.3 −264.8 −74.6 −34.7 −723.6

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash68.5Total debt732.1Net cash (debt)−663.6Shareholders’ equity1,265.3Debt to equity0.58Fiscal year 2017Cash89.7Total debt1,028.9Net cash (debt)−939.2Shareholders’ equity1,361.1Debt to equity0.76Fiscal year 2018Cash71.7Total debt1,892.1Net cash (debt)−1,820.4Shareholders’ equity1,665.2Debt to equity1.14Fiscal year 2019Cash94.5Total debt1,873.1Net cash (debt)−1,778.6Shareholders’ equity1,946.8Debt to equity0.96Fiscal year 2021Cash268.1Total debt1,729.6Net cash (debt)−1,461.5Shareholders’ equity1,976.6Debt to equity0.88Fiscal year 2022Cash180.4Total debt2,414.3Net cash (debt)−2,233.9Shareholders’ equity2,494.3Debt to equity0.97Fiscal year 2022Cash162.0Total debt2,722.3Net cash (debt)−2,560.3Shareholders’ equity2,797.7Debt to equity0.97Fiscal year 2023Cash247.5Total debt2,425.2Net cash (debt)−2,177.7Shareholders’ equity3,249.9Debt to equity0.75Fiscal year 2024Cash638.8Total debt2,395.1Net cash (debt)−1,756.3Shareholders’ equity3,638.4Debt to equity0.66Fiscal year 2026Cash222.2Total debt2,173.0Net cash (debt)−1,950.8Shareholders’ equity2,776.2Debt to equity0.78
FY2016FY2017FY2018FY2019FY2021FY2022FY2022FY2023FY2024FY2026
Cash 68.5 89.7 71.7 94.5 268.1 180.4 162.0 247.5 638.8 222.2
Total debt 732.1 1,028.9 1,892.1 1,873.1 1,729.6 2,414.3 2,722.3 2,425.2 2,395.1 2,173.0
Net cash (debt) −663.6 −939.2 −1,820.4 −1,778.6 −1,461.5 −2,233.9 −2,560.3 −2,177.7 −1,756.3 −1,950.8
Shareholders’ equity 1,265.3 1,361.1 1,665.2 1,946.8 1,976.6 2,494.3 2,797.7 3,249.9 3,638.4 2,776.2
Debt to equity 0.58 0.76 1.14 0.96 0.88 0.97 0.97 0.75 0.66 0.78

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2026 · 10-K

Income statement

In millions of USD, except per-share figures; shares in millions. Fiscal years ending January, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 30 Dec 2017 FY2018 29 Dec 2018 FY2019 28 Dec 2019 FY2021 2 Jan 2021 FY2022 1 Jan 2022 FY2022 31 Dec 2022 FY2023 30 Dec 2023 FY2024 28 Dec 2024 FY2026 3 Jan 2026
Revenue and profit
2,267.9 2,335.5 2,722.9 2,959.4 2,513.3 3,250.8 4,032.9 3,242.1 3,150.2 3,201.2
Growth +3.0% +16.6% +8.7% −15.1% +29.3% +24.1% −19.6% −2.8% +1.6%
1,366.7 1,422.8 1,718.8 1,855.9 1,631.2 2,055.9 2,586.3 1,958.0 1,898.4 1,949.3
901.2 912.7 1,004.1 1,103.5 882.0 1,194.9 1,446.6 1,284.1 1,251.8 1,251.9
Growth +1.3% +10.0% +9.9% −20.1% +35.5% +21.1% −11.2% −2.5% +0.0%
26.3 29.1 35.3 41.2 35.3 41.8 48.9 47.1 50.8 58.8
471.6 468.2 538.8 593.8 531.9 668.0 797.2 624.9 590.1 663.2
419.0 378.6 446.0 514.0 324.4 630.0 639.6 652.4 644.1 574.9
Growth −9.6% +17.8% +15.3% −36.9% +94.2% +1.5% +2.0% −1.3% −10.7%
421.3 383.5 423.5 462.6 268.1 619.5 564.4 536.1 566.1 482.3
137.1 85.4 106.4 110.4 60.8 131.0 127.8 123.1 145.1 115.0
284.2 298.1 317.2 352.2 207.3 488.5 436.6 400.9 428.4 −277.7
Growth +4.9% +6.4% +11.1% −41.1% +135.7% −10.6% −8.2% +6.9% −164.8%
Per share
4.98 5.26 5.71 6.33 3.76 8.85 8.07 7.48 7.97 −5.38
4.98 5.26 5.70 6.33 3.76 8.62 7.95 7.41 7.90 −5.32
Growth +5.6% +8.4% +11.1% −40.6% +129.3% −7.8% −6.8% +6.6% −167.3%
57.0 56.7 55.6 55.6 55.1 55.2 54.1 53.6 53.7 51.7
57.1 56.7 55.6 55.7 55.1 56.7 54.9 54.1 54.2 52.2
Growth −0.6% −2.0% +0.1% −0.9% +2.8% −3.0% −1.6% +0.2% −3.7%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 5.0% a year over five years.
  • The diluted share count fell 5.4% in five years, so buybacks did some of the work per share.
  • Operating margin is up 5.0 points on five years ago, at 18.0%.
  • A net loss in 1 of 10 years on file.