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Stock research / United States / MIDD · Refrigeration & Service Industry Machinery · Nasdaq

Middleby Corp. (MIDD)

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Middleby Corp. (MIDD) reported revenue of $876 million for Q2 FY2026, the quarter ended 4 July 2026, up 9.9% on the same quarter a year earlier. Net income was $55 million, down 48.3% on the year, and diluted earnings per share $1.21. The figures are the company's own, from the 10-Q it filed with the SEC on 13 August 2026.

Revenue$876 millionup 9.9%
Net income$55 milliondown 48.3%
Diluted EPS$1.21
QuarterQ2 FY2026ended 4 July 2026

Middleby (MIDD) in brief

Middleby (MIDD) reported revenue of $3.2 billion for fiscal 2025, the year ended 3 January 2026, up 1.6% on the year before.
Read moreNet loss was $278 million and the diluted loss per share $5.32. Revenue was $3.2 billion in fiscal 2024, $3.2 billion in fiscal 2023, $4.0 billion in fiscal 2022 and $3.3 billion in fiscal 2021. Net income in the same years was $428 million, $401 million, $437 million and $488 million. Over the twelve months to 4 July 2026, Middleby reported revenue of $3.4 billion and net loss of $471 million. Revenue grew 5.0% a year, compounded, over the five years to fiscal 2025. Middleby had 45 million shares outstanding at the latest filed count. At 4 July 2026 it carried $1.9 billion of debt and $159 million of cash. At the close of 8 October 2026 the market cap of Middleby was $4.8 billion.

Ratios

From the filings

ROE-21.3%
ROCE13.5%
Operating margin16.5%
Net margin-13.9%
FCF marginn/a
Interest covern/a
Debt to equity0.88
Cash conversionn/a
Share count, 1 year-10.8%
Sales CAGR, 3 years-7.4%
Profit CAGR, 3 yearsn/a
EPS, TTM-$9.26

At the close of 8 October 2026

Price$105.40
Market cap$4.8 billion
Stock P/En/a
Price to book2.16
EV / EBITDAn/a
Dividend yieldn/a
Market cap / sales1.41
52-week high$144.17
52-week low$89.85
Price, 1 year-3.1%
Price CAGR, 3 years1.9%
Price CAGR, 5 years-5.2%
Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest daily close from SimFin. Debt to equity here stands on long-term debt as Middleby Corp. files it, with lease liabilities counted separately and never inside it. Nothing here is a valuation or a view.
MIDDgreeksoup.ai
Daily closes to 8 October 2026, adjusted for splits; prices from SimFin.
Read moreDay by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on MIDD

Filings32 in twelve months: 25 current reports (8-K), about 12 regulation fd disclosure; 5 officer or director change; 4 results of operations; 3 material agreement; 3 other events
Planned insider salesno Form 144 notice in twelve months
Options tapeput/call 0.32 by open interest at the 8 October 2026 close; the straddle prices a 4.5% move to 16 October 2026
13F holders8 of the followed funds hold it; largest FMR LLC; 12 Schedule 13D or 13G filings in twelve months
Insider trading0 sales and 8 purchases on Form 4 in twelve months
Congress10 House trades disclosed in six months
Short interest1.9 million shares short, 3.34 days to cover at 15 September 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023 *Q1 FY2024 †Q2 FY2024 †Q3 FY2024 †Q4 FY2024Q1 FY2025 †Q2 FY2025 †Q3 FY2025 †Q4 FY2025Q1 FY2026Q2 FY2026
Revenue9811,009753799770829731797807866840876
Cost of revenue605622581612587625438481621n/a517540
Gross profit375387295323303331293316307336323335
Gross margin38%38%39%40%39%40%40%40%38%39%38%38%
SG&A196192206199179178162168204n/a188187
Operating income174115137176173170141155-554833133148
Operating margin18%11%18%22%23%20%19%20%-69%96%16%17%
Pre-tax income14486.9115155155153121133-579807113126
Tax rate25%12%25%25%26%27%22%19%n/an/a24%34%
Net income10976.386.611511411292.4106-51336.9-50.154.8
Net margin11%8%11%14%15%14%13%13%-64%4%-6%6%
Diluted EPS$2.01$1.42$1.59$2.13$2.11$2.07$1.69$1.99-$10.15$0.74-$1.06$1.21
Operating cash flow21925614115015724014112217619165.697.7
Capital expenditure21.315.513.710.911.513.126.520.920.3n/a7.910.7
Free cash flow198240127139145227115101156n/a57.787.0
Buybacks0.00.017.01.00.316.442.8323149209375207
Shares outstanding54m54m54m54m54m47m53m51m50m47m45m45m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss), 12 fiscal years and the trailing twelve months

FY2014FY2015FY2016 †FY2017 †FY2018FY2019FY2020FY2021FY2022FY2023 †FY2024 †FY2025TTM
Revenue1,6371,8272,2682,3362,7232,9592,5133,2514,0333,2423,1503,2013,389
Cost of revenue9961,1201,3671,4231,7191,8561,6312,0562,5861,9581,8981,949n/a
Gross profit6417079019131,0041,1038821,1951,4471,2841,2521,2521,302
Gross margin39.1%38.7%39.7%39.1%36.9%37.3%35.1%36.8%35.9%39.6%39.7%39.1%38.4%
Research and development22.622.426.329.135.341.235.341.848.947.150.858.8n/a
Selling, general and administrativen/a375472468539594532668797625590663n/a
Operating income300303419379446514324630640652644575560
Operating margin18.4%16.6%18.5%16.2%16.4%17.4%12.9%19.4%15.9%20.1%20.4%18.0%16.5%
Pre-tax income281281421384424463268620564536566482467
Income tax87.589.613785.410611060.8131128123145115n/a
Effective tax rate31.2%31.9%32.5%22.3%25.1%23.9%22.7%21.1%22.7%23.0%25.6%23.8%n/a
Net income193192284298317352207488437401428-278-471
Net margin11.8%10.5%12.5%12.8%11.6%11.9%8.2%15.0%10.8%12.4%13.6%-8.7%-13.9%
Diluted EPS$3.40$3.36$4.98$5.26$5.70$6.33$3.76$8.62$7.95$7.41$7.90-$5.32-$9.26
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Revenue by segment

FY2023FY2024FY2026Share
latest year
Commercial Foodservice Equipment Group2,4852,3802,35173.4%
Food Processing Group75777085026.6%
Corporate Segment and Other Operating Segment0.00.00.00.0%
Commercial Foodservice Equipment GroupFood Processing GroupCorporate Segment and Other Operating Segment
3,242FY20233,150FY20243,201FY2026

$ million; hover a block for its figure and share

From the latest 10-K, in the company's own words.
Read moreA year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Revenue by region

FY2023FY2024FY2026Share
latest year
United States And Canada2,3082,1542,16067.5%
Europe And Middle East51559163119.7%
Asia2732442497.8%
Latin America1461611615.0%
United States And CanadaEurope And Middle EastAsiaLatin America
3,242FY20233,150FY20243,201FY2026

$ million; hover a block for its figure and share

From the latest 10-K, in the company's own words.
Read moreA year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Cash flow and capital returned

FY2014FY2015FY2016 †FY2017 †FY2018FY2019FY2020FY2021FY2022FY2023 †FY2024 †FY2025TTM
Operating cash flow234250294304369377525423333629687630530
Capital expenditure13.122.424.854.536.046.634.846.667.359.236.770.7n/a
Free cash flow221227269250333331490377265570650559n/a
Free cash flow margin13.5%12.4%11.9%10.7%12.2%11.2%19.5%11.6%6.6%17.6%20.6%17.5%n/a
Cash from investing-233-371-236-345-1,239-328-107-1,009-348-156-159-127476
Cash from financing8.9137-41.455.8856-25.4-2525037.6-391-73.8-971-1,355
Depreciation and amortisation41.354.158.269.897.2103111125138110104105n/a
Share-based compensation16.715.927.96.22.58.119.642.358.445.231.913.5n/a
Buybacks44.34.84.42400.06.185.929.326574.634.7724940
Diluted shares, weighted57m57m57m57m56m56m55m57m55m54m54m52m45m
Shares outstanding at period end57m57m58m56mn/an/an/an/an/an/an/an/a45m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2014FY2015FY2016 †FY2017 †FY2018FY2019FY2020FY2021FY2022FY2023 †FY2024 †FY2025TTM
Funded by
Shareholders' equity1,0071,1671,2651,3611,6651,9471,9772,4942,7983,2503,6382,7762,210
Debt5987667321,0291,8921,8731,7302,4142,7222,4252,3952,1291,935
Operating lease liabilitiesn/an/an/an/an/a75.076.574.280.287.567.594.3n/a
Other liabilities4618289209509921,1071,4201,4011,2751,1441,1821,3161,215
Total liabilities and equity2,0662,7612,9173,3404,5505,0025,2026,3846,8756,9077,2836,3155,361
Owned
Fixed assets130200222282315352344381444511385432423
Goodwill8089831,0931,2651,7431,8501,9342,2432,4121,7041,7441,8001,794
Intangible assets4927496967801,3611,4431,4501,8751,7941,6931,1001,0611,031
Cash and equivalents43.955.568.589.771.794.5268180162247639222159
Receivables230283326328399448363577631645532573601
Inventory2563543684255225865408371,078936656693738
Other assets1061361441701392293022893541,1712,2281,535614
Total assets2,0662,7612,9173,3404,5505,0025,2026,3846,8756,9077,2836,3155,361
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded5.8%5.0%-7.4%8.4%
Profit growth, compoundedn/an/an/an/a
Return on equity, average14.1%9.9%4.7%-10.0%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Peers: Machinery

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Toro Co. TTC$9.2 billion25.8927.2%10.3%5.2%0.721.6%
Flowserve Corp. FLS$8.9 billion24.4416.4%8.5%-0.3%0.941.2%
Pentair plc PNR$8.5 billion13.1417.4%20.3%-2.1%0.431.9%
SPX Technologies, Inc. SPXC$8.4 billion30.3211.9%16.2%20.6%0.260.4%
Timken Co. TKR$7.9 billion30.998.1%10.5%5.5%0.641.2%
Agco Corp. AGCO$7.6 billion14.9613.1%5.8%1.7%0.651.1%
Aaon, Inc. AAON$7.1 billion44.7715.8%11.0%53.5%0.430.5%
NOV Inc. NOV$6.8 billion73.041.5%5.1%-1.7%0.272.7%
Weatherford International plc WFRD$5.5 billion15.1720.5%12.7%-7.2%0.811.3%
Middleby Corp. MIDD$4.8 billionn/a-21.3%16.5%8.4%0.88n/a
Brunswick Corp. BC$4.0 billionn/a-5.1%-0.4%10.5%1.252.8%
Esab Corp. ESAB$4.0 billion23.256.8%12.1%9.7%0.940.6%
All 41 in Machinery
CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
ASML Holding N.V. ASML *$695.7 billion64.8849.0%34.6%15.6%0.22n/a
Lam Research Corp. LRCX$401.1 billion55.6658.3%35.3%26.0%0.300.3%
Caterpillar Inc. CAT$366.0 billion34.2755.9%17.5%18.4%1.440.7%
Deere & Co. DE$176.0 billion36.2517.4%13.4%8.0%2.281.0%
Eaton Corp. plc ETN$164.9 billion43.1918.9%n/a15.5%0.911.0%
Johnson Controls International plc JCI$94.0 billion26.7826.5%n/a6.8%0.621.0%
Illinois Tool Works Inc. ITW$75.4 billion24.00110.3%26.5%4.3%3.352.3%
Cummins Inc. CMI$71.6 billion26.5921.1%11.2%2.9%0.521.5%
Baker Hughes Co. BKR$55.9 billion18.1615.6%n/a0.4%0.82n/a
Carrier Global Corp. CARR$46.4 billion38.509.1%7.8%-1.6%0.771.2%
Ingersoll Rand Inc. IR$30.3 billion32.109.4%18.1%7.8%0.40n/a
TechnipFMC plc FTI$27.4 billion24.1835.9%16.0%9.9%0.120.3%
nVent Electric plc NVT$26.6 billion44.8615.0%17.1%46.2%0.370.5%
Dover Corp. DOV$25.4 billion22.7714.7%16.9%7.6%0.421.1%
Xylem Inc. XYL$23.8 billion24.289.8%14.5%4.5%0.281.6%
Curtiss Wright Corp. CW$18.7 billion34.9119.5%18.8%10.5%0.350.2%
Nordson Corp. NDSN$18.2 billion33.0517.0%26.9%7.0%0.531.0%
Zebra Technologies Corp. ZBRA$18.1 billion34.9615.7%14.7%12.7%0.81n/a
ITT Inc. ITT$17.8 billion38.968.8%14.4%28.1%0.620.7%
Idex Corp. IEX$17.1 billion33.3513.0%20.7%7.3%0.471.2%
RBC Bearings Inc. RBC$16.4 billion49.489.3%23.6%17.3%0.230.0%
CNH Industrial N.V. CNH$15.4 billion49.844.0%n/a0.6%3.332.0%
Lincoln Electric Holdings Inc. LECO$14.1 billion25.8535.6%17.1%9.3%0.741.2%
BWX Technologies, Inc. BWXT$13.0 billion36.8426.6%12.1%22.7%1.510.7%
Graco Inc. GGG$12.7 billion24.6421.1%28.1%4.6%0.011.4%
Lennox International Inc. LII$12.6 billion16.3460.8%19.7%-2.1%0.891.4%
Moog Inc. MOG.A$11.6 billion30.6517.0%13.3%15.6%0.410.3%
Regal Rexnord Corp. RRX$10.7 billion32.994.7%11.7%3.5%0.660.9%
Donaldson Co. Inc. DCI$10.1 billion22.6425.7%15.4%5.3%0.731.4%
Toro Co. TTC$9.2 billion25.8927.2%10.3%5.2%0.721.6%
Flowserve Corp. FLS$8.9 billion24.4416.4%8.5%-0.3%0.941.2%
Pentair plc PNR$8.5 billion13.1417.4%20.3%-2.1%0.431.9%
SPX Technologies, Inc. SPXC$8.4 billion30.3211.9%16.2%20.6%0.260.4%
Timken Co. TKR$7.9 billion30.998.1%10.5%5.5%0.641.2%
Agco Corp. AGCO$7.6 billion14.9613.1%5.8%1.7%0.651.1%
Aaon, Inc. AAON$7.1 billion44.7715.8%11.0%53.5%0.430.5%
NOV Inc. NOV$6.8 billion73.041.5%5.1%-1.7%0.272.7%
Weatherford International plc WFRD$5.5 billion15.1720.5%12.7%-7.2%0.811.3%
Middleby Corp. MIDD$4.8 billionn/a-21.3%16.5%8.4%0.88n/a
Brunswick Corp. BC$4.0 billionn/a-5.1%-0.4%10.5%1.252.8%
Esab Corp. ESAB$4.0 billion23.256.8%12.1%9.7%0.940.6%
No other company here shares its SEC industry code (Refrigeration & Service Industry Machinery); these are the names nearest in size in its wider industry, Machinery, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

Filings

FilingPeriodFiledWhere
10-Q4 July 202613 August 2026EDGAR
10-Q4 April 202614 May 2026EDGAR
10-K3 January 20264 March 2026EDGAR
10-Q27 September 20256 November 2025EDGAR
10-Q28 June 20257 August 2025EDGAR
10-Q29 March 20258 May 2025EDGAR
10-K28 December 202426 February 2025EDGAR
10-Q28 September 20247 November 2024EDGAR
10-Q29 June 20248 August 2024EDGAR
10-Q30 March 20249 May 2024EDGAR

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