MIDD
The Middleby Corporation
MIDD's fundamentals are mixed, but it looks expensive: trading at 159x earnings, about nine times its usual 18x.
MIDD Fundamentals
| Metric | Status |
|---|---|
| Under pressure | |
| Strong | |
| Stable | |
| Healthy |
MIDD's profitability and balance sheet are currently healthy, and its cash flow is stable, but its revenue is under pressure.
MIDD PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 16x | $13.88 | -90% |
| Fair | 18x | $15.65 | -88% |
| Expensive | 26x | $22.14 | -84% |
| Current | 159x | $135 | — |
Historical ranges are pointers, not guarantees.
MIDD's PE is in its expensive range at 159x.
MIDD Forward outlook
There aren't enough analyst estimates for MIDD to show an outlook.
MIDD Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | $0.85 | +$5.25 |
| Q2 2026 | -$9.26 | -218% |
| Q1 2026 | -$8.48 | -206% |
| Q4 2025 | -$5.73 | -173% |
| Q3 2025 | -$4.40 | -161% |
| Q2 2025 | $7.86 | +9.9% |
| Q1 2025 | $8.00 | +11% |
| Q4 2024 | $7.90 | +6.6% |
MIDD has returned to profit: it earned $0.85 per share over the past year, after losing money the year before.
MIDD Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $652.6M | -34% |
| Q2 2026 | $875.5M | -10% |
| Q1 2026 | $839.9M | -7.4% |
| Q4 2025 | $866.4M | -15% |
| Q3 2025 | $982.1M | +4.2% |
| Q2 2025 | $977.9M | -1.4% |
| Q1 2025 | $906.6M | -2.2% |
| Q4 2024 | $1B | +0.5% |
MIDD's revenue has slid since its 2023 peak: $653M last quarter, down 34% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 15% | +72 points |
| Q2 2026 | 17% | +1 points |
| Q1 2026 | 16% | +0.4 points |
| Q4 2025 | 96% | +79 points |
| Q3 2025 | -56% | -75 points |
| Q2 2025 | 16% | -1.8 points |
| Q1 2025 | 16% | +0.7 points |
| Q4 2024 | 17% | +5.4 points |
MIDD's operating margin was 15% last quarter, up 72 points from the same quarter a year ago.
MIDD Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $84.9M | -46% |
| Q2 2026 | $87M | -14% |
| Q1 2026 | $57.7M | -46% |
| Q4 2025 | $194.9M | -14% |
| Q3 2025 | $156.1M | +7.5% |
| Q2 2025 | $101.1M | -27% |
| Q1 2025 | $107.4M | -16% |
| Q4 2024 | $226.6M | -5.6% |
MIDD still generates free cash flow, though less than at its 2023 peak: $425M over the past year.
MIDD Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1% | -443K shares |
| 1 year | -11% | -5.6M shares |
| 3 years | -17% | -9.3M shares |
| 5 years | -21% | -12M shares |
| Available history | -19% | -10.8M shares |
MIDD has 45M diluted shares, down 11% from a year ago, with $898M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | $106.5M |
| Q2 2026 | $207.1M |
| Q1 2026 | $374.8M |
| Q4 2025 | $209.3M |
| Q3 2025 | $148.6M |
| Q2 2025 | $322.9M |
| Q1 2025 | $42.8M |
| Q4 2024 | $16.4M |
MIDD spent $898M buying back its own shares over the past year, up 69% from the year before.
MIDD Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.3x | Healthy |
| Q2 2026 | 2.8x | Moderate |
| Q1 2026 | 2.6x | Moderate |
| Q4 2025 | 2.9x | Moderate |
| Q3 2025 | 46.0x | High |
| Q2 2025 | 2.4x | Moderate |
| Q1 2025 | 2.1x | Moderate |
| Q4 2024 | 2.2x | Moderate |
MIDD's net debt is about 1.3 years of its operating earnings (EBITDA), down from more than 20 years a year ago.
MIDD Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 62.4 | Neutral |
| Stochastic | 74.6 | Neutral |
MIDD's weekly RSI is 62 (neutral) and its Stochastic is 75 (neutral).
MIDD PE vs Industrials Sector
| Metric | MIDD | Sector median | Relative |
|---|---|---|---|
| PE | 159x | 24x | 563% above |
| PE % | 100 | 58 | 42 pts above |
MIDD is trading at 159x earnings, a 563% premium to the Industrials sector's median of 24x.
MIDD Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $116.2 | 17% above |
| 20 week MA | $121.0 | 12% above |
| 50 week MA | $120.9 | 12% above |
| 100 week MA | $117.4 | 15% above |
| 200 week MA | $114.6 | 18% above |
MIDD is in an uptrend: it's above all five of its weekly moving averages, and 18% above its 200-week average.
MIDD Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $88.3 | $104.1 | +18% |
| 2021 | $104.1 | $154.3 | +48% |
| 2022 | $154.3 | $106.4 | -31% |
| 2023 | $106.4 | $118.4 | +11% |
| 2024 | $118.4 | $109.9 | -7.2% |
| 2025 | $109.9 | $121.6 | +11% |
| 2026 YTD | $121.6 | $135.4 | +11% |
MIDD has finished higher in four of the last six years. It's up 11% so far in 2026.