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MARKETS / NASDAQ / MIDD
NASDAQ · REFRIGERATION & SERVICE INDUSTRY MACHINERY · LARGE CAP

Middleby Corp. MIDD

18 fiscal years on record · USD · FY2025 reported · SEC filings only
$3.2B
▲ 1.6% YoY
$-277.7M
▼ 164.8% YoY
$559.5M
▼ 13.9% YoY
In brief

What this company does

The Middleby Corporation designs, manufactures, markets, distributes and services a broad line of foodservice equipment, integrated IoT solutions and universal controllers used in commercial restaurants and institutional kitchens, and food preparation, cooking, baking, chilling and packaging equipment for food processing operations. As of January 3, 2026, the company employed 8,826 persons, of whom 4,786 were located in the United States. It conducts its business through two principal business segments, the Commercial Foodservice Equipment Group and the Food Processing Equipment Group. The Commercial Foodservice Equipment Group offers foodservice equipment for cooking, warming, holding, refrigeration, freezing and beverage applications, used across quick-service restaurants, full-service restaurants, ghost kitchens, convenience stores, supermarkets, retail outlets, hotels and other institutions. The Food Processing Equipment Group offers processing solutions for producers of protein products, such as bacon, salami and dry cure, sausage and hot dogs, egg bites, poultry, alternative protein, case ready, lunch meat and pet food, and for producers of bakery products, such as bread and buns, artisan bread, sweet goods, cakes and muffins, cookies, crackers, pizza and pastries, tortillas and snacks. The Middleby Corporation traces to Middleby Marshall Oven Company, founded in 1888 as a manufacturer of baking ovens, which was acquired in 1983 by TMC Industries Ltd., a publicly traded company that changed its name in 1985 to The Middleby Corporation.

Written from the business description in THE MIDDLEBY CORPORATION's annual report to the U.S. Securities and Exchange Commission, filed 4 March 2026. Every sentence was checked against that document before publication.

Growth
USD 3.2B
Revenue, FY2025 · full 18-year series below
Revenue $B Net income $B
FY2025 · Revenue 3.2 · Net income -0.3
2B4B2008201120142017202020232025
Compound annual growth
−7.4%
+5.0%
+5.8%
+10.5%
+39.8%
+53.2%
+65.0%
+34.6%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +5.0% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
−9 cents
lost on every revenue dollar
Operating margin Net margin
FY2025 · Operating 18.0% · Net -8.7%
10%20%-5%2008201120142017202020232025
ROE
FY2025 · ROE -8.7%
10%20%-5%2008201120142017202020232025

Each USD of equity lost 9 cents this year.

Cash & shareholders
USD 723.6M
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF 559.5
250.0M500.0M2008201120142017202020232025
Net buybacks $M Dividends $M
FY2025 · Dividends — · Net buybacks 723.6
250.0M500.0M200820112013201520172019202120232025

USD 723.6M in buybacks went back to shareholders in a year without profit.

Total assetsUSD 6.3B
EquityUSD 2.8B
CashUSD 222.2M
Gross debtUSD 2.2B
Net debtUSD 2.0B
Current ratio2.57×

Net debt stands at 70% of equity.

The 18-year record
18 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 202520242023202220212020201920182017201620152014201320122011201020092008
Revenue $B3.23.23.24.03.32.53.02.72.32.31.81.61.41.00.90.70.60.7
Operating income $B0.60.60.70.60.60.30.50.40.40.40.30.30.20.20.10.10.10.1
EBITDA $B0.70.70.80.80.80.40.60.50.40.50.40.30.30.20.20.10.10.1
Income tax $B0.10.10.10.10.10.10.10.10.10.10.10.10.10.10.00.00.00.0
Net income $B−0.30.40.40.40.50.20.40.30.30.30.20.20.20.10.10.10.10.1
Free cash flow $B0.60.70.60.30.40.50.30.30.20.30.20.20.10.10.10.10.10.1
EPS, diluted $−5.327.907.417.958.623.766.335.705.264.983.363.402.742.205.153.973.293.75
Dividend / sh $··················
Payout %··················
ROE %−8.712.413.316.521.910.619.521.022.723.417.621.020.720.816.412.616.628.0
Shares out B········0.060.060.060.060.060.020.020.02··

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 88 reconciliationsAUDITED

Reconciled in 18 of 19 fiscal years. 7 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityRefrigeration & Service Industry Machinery
Listed onNASDAQ
Incorporated inDelaware
Fiscal year endsJanuary 2
Data on record since2008

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