The Middleby Corporation designs, manufactures, markets, distributes, and services commercial restaurant, food processing, and residential kitchen equipment worldwide. It operates through three segments Commercial Foodservice Equipment Group, Food Processing Equipment Group, and Residential Kitchen Equipment. Its Commercial Foodservice Equipment Group segment 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 Food Processing Equipment Group segment provides batch, baking, proofing, conveyor belt, and continuous processing ovens; frying and automated thermal processing systems; tumblers, massagers, grinders, slicers, reduction and emulsion systems, mixers, and blenders; battering, breading, and seeding equipment; water cutting systems, food presses, suspension, filling and depositing solution, and forming equipment; and automated washing systems, auto guided vehicles, food safety, handling, freezing, and defrosting and packaging equipment. Its Residential Kitchen Equipment Group segment offers kitchen equipment comprising cookers, stoves, cooktops, microwaves, ovens, refrigerators, dishwashers, undercounter refrigeration, wine cellars, ice machines, beer dispensers, mixers, rotisseries, and ventilation and outdoor cooking equipment. 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.
Industry Dynamics | Explore Middleby's position in the volatile food equipment sector, facing mixed trends and new opportunities in store builds and consulting activities |
Financial Resilience | Delve into Middleby's financial health, with a strong current ratio of 2.81 and substantial free cash flow, despite recent sales challenges |
Strategic Maneuvers | Learn about Middleby's initiatives, including the separation of its Food Processing Group and share repurchases, aimed at unlocking shareholder value |
Market Valuation | Analyst price targets range from $160 to $185, with an average of $171.25, suggesting potential upside for this slightly undervalued stock |
Metrics to compare | MIDD | Sector Sector - Average of metrics from a broad group of related Industrials sector companies | Relationship RelationshipMIDDPeersSector | |
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P/E Ratio | 14.3x | 19.7x | 12.7x | |
PEG Ratio | 1.52 | 0.12 | 0.03 | |
Price/Book | 1.7x | 1.4x | 1.4x | |
Price / LTM Sales | 1.6x | 1.2x | 1.2x | |
Upside (Analyst Target) | 28.2% | 28.5% | 15.8% | |
Fair Value Upside | Unlock | 8.6% | 6.5% | Unlock |