The Middleby (MIDD) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

The Middleby

NasdaqGS•Industrials•Specialty Industrial Machinery

$111.75-0.65(-0.01%)Market closed

Market Cap

$5.05B

P/S

1.7x

P/B

2.3x

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.

How this company scores

WeakMetricSide Score: 36/100

Strongest: Cash & Earnings Quality (16/25); weakest: Growth (4/25).

Profitability5/25

Growth4/25

Balance Sheet & Red Flags11/25

Cash & Earnings Quality16/25

Strengths

Cash-backed earningsConsistent free cash flowImproving marginsNo share dilution

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 14.4x5y range 12.7x – 15.6x

Currently near its 16-quarter median.

P/S · 1.7x5y range 1.4x – 2.0x

Currently near its 20-quarter median.

P/B · 2.3x5y range 1.6x – 2.7x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Leverage Risk

Watch

Debt-to-equity has risen 36.1% recently — increasing financial risk even if the current ratio is manageable.

Price & Volume

Market Cap $5.05B

Metrics at a Glance

as of July 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $3.03B
Q. Revenue: $875.55M
TTM EBITDA: $652.21M
TTM Op. Income: $560.00M
Q. Op. Income: $147.75M
TTM Net Income: $-471.30M
Q. Net Income: $54.81M
EPS: $1.21
Shares Out.: $45.33M

$3.03B in TTM revenue declined 21.1% YoY, reaching $875.55M last quarter. TTM EBITDA of $652.21M and TTM operating income of $560.00M show growth is flowing through to the bottom line. However, net income is negative at $471.30M — growth is not yet reaching the bottom line. Across the last 8 quarters, TTM revenue has fallen for 3 consecutive quarters — a weakening trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 38.3%
EBITDA Margin: 19.8%
Op. Margin: 16.9%
Net Margin: 6.3%

Op. margin of 16.9% is up 1.0% YoY — cost efficiency is improving. Net margin at 6.3% and gross margin of 38.3% show how much of each revenue dollar survives to profit. Over the past year, operating margin is up 6% — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: N/A
P/S Ratio: 1.7x
P/B Ratio: 2.3x

P/S of 1.7x and P/B of 2.3x. P/S is low relative to typical market levels. Over the past year, P/E is up 0% — an improving trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $5.36B
Cash: $159.18M
Long-Term Debt: $1.94B
Book Value: $2.21B
D/E Ratio: 0.9
Debt/EBITDA: 11.2

With $5.36B in assets and $1.94B in long-term debt, D/E is 0.9and book value is $2.21B — a conservative capital structure with a cushion to weather downturns. Across the last 8 quarters, debt/equity has risen for 5 consecutive quarters — a weakening trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $99.71M
TTM Free Cash Flow: $454.26M
FCF Margin: 15.0%
FCF / Net Income: -1.0

TTM FCF of $454.26M on $99.71M in operating cash flow. The FCF / Net Income ratio of -1.0x means the business consumes cash — it is not yet self-funding. Across the last 8 quarters, free cash flow has fallen for 3 consecutive quarters — a weakening trend.