Middleby Corporation Intrinsic Value Calculation – MIDDLEBY CORPORATION Reports Record Earnings for Q2 of FY 2023
August 16, 2023
🌥️Earnings Overview
On August 3, 2023, MIDDLEBY CORPORATION ($NASDAQ:MIDD) reported total revenue of USD 1040.0 million for the second quarter of their fiscal year 2023, ending on June 30, 2023. This was a 2.6% increase from the previous year, while net income was up 3.2%, reaching USD 116.8 million.
Stock Price
MIDDLEBY CORPORATION, a global leader in commercial foodservice and residential kitchen equipment, reported record earnings for the second quarter of fiscal year 2023 on Thursday. The company’s stock opened at $138.2 and closed at $142.0, down by 1.4% from its last closing price of 143.9. Despite the slight dip in stock price, MIDDLEBY CORPORATION reported a year-over-year increase in net income by 3%. This was mainly driven by a notable increase in sales across all segments of the company.
The company’s strong balance sheet and efficient management team also contributed to the impressive results of the quarter. Looking ahead, MIDDLEBY CORPORATION is confident that it will continue to deliver strong performance in the upcoming quarters. With a diversified portfolio of products and a globally recognized brand name, MIDDLEBY CORPORATION remains well-positioned to capitalize on potential opportunities in the near future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Middleby Corporation. More…
| Total Revenues | Net Income | Net Margin |
| 4.07k | 453.5 | 11.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Middleby Corporation. More…
| Operations | Investing | Financing |
| 397.04 | -326.33 | -85.34 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Middleby Corporation. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 6.98k | 3.99k | 52.28 |
Key Ratios Snapshot
Some of the financial key ratios for Middleby Corporation are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 15.2% | 19.5% | 17.2% |
| FCF Margin | ROE | ROA |
| 8.8% | 15.6% | 6.3% |
Analysis – Middleby Corporation Intrinsic Value Calculation
At GoodWhale we have conducted an analysis of MIDDLEBY CORPORATION‘s wellbeing. Our proprietary Valuation Line has estimated the fair value of MIDDLEBY CORPORATION share to be around $189.4. Unfortunately, the current price of MIDDLEBY CORPORATION stock is $142.0, undervaluing the stock by 25.0%. This indicates that investors are not fully aware of MIDDLEBY CORPORATION’s potential and that there could be opportunity for those willing to invest in the company. More…
Peers
Hoshizaki Corp, Shanghai Electric Group Co Ltd, and Ningbo Lehui International Engineering Equipment Co Ltd are all major players in the same industry, and they all strive to outdo each other with innovative products and competitive pricing. As the competition between these companies intensifies, The Middleby Corp continues to strive for excellence and remain a leader in its field.
– Hoshizaki Corp ($TSE:6465)
Hoshizaki Corp is a Japanese manufacturer of commercial and industrial refrigeration, food service equipment, and ice machines. The company has a market cap of 667.81B as of 2022, which is indicative of its strong financial performance and profitability. Its Return on Equity (ROE) of 9.35% is higher than the industry average, which shows that the company is efficiently utilizing its equity resources to generate returns for its shareholders.
– Shanghai Electric Group Co Ltd ($SHSE:601727)
Shanghai Electric Group Co Ltd is a Chinese state-owned power generation and electrical equipment manufacturing company. The company is listed on the Shanghai Stock Exchange, and as of 2022, has a market capitalization of 58.15 billion dollars. This makes Shanghai Electric one of the largest Chinese companies in terms of market capitalization. The company has a Return on Equity (ROE) of -6.43%, which is lower than the industry average. This indicates that the company is not performing as well as its peers and could be a cause for concern for investors. Shanghai Electric Group Co Ltd manufactures and supplies power generation equipment, industrial robots, elevators, air-conditioners, and other related products. The company also provides engineering services in the fields of power generation, electrical systems, and industrial automation.
– Ningbo Lehui International Engineering Equipment Co Ltd ($SHSE:603076)
Ningbo Lehui International Engineering Equipment Co Ltd is a Chinese engineering equipment and services provider with a market cap of 4.7B as of 2022. The company has a Return on Equity of 2.38%, which is an indication of its ability to generate profits from shareholder investments. The company primarily provides engineering equipment and services for industrial machinery and power plants, including heavy-duty equipment and oil-field machinery. It also offers engineering services to other companies and institutes in China, as well as abroad. In addition, the company manufactures and sells spare parts for engineering equipment and related products.
Summary
MIDDLEBY CORPORATION reported positive earnings results for their fiscal year 2023 second quarter, ending on June 30, 2023. Total revenue was USD 1040.0 million, showing an increase of 2.6% year-on-year. Net income was USD 116.8 million, up 3.2% from the previous year.
This is encouraging news for investors, indicating MIDDLEBY CORPORATION is a financially sound company that is creating value and generating returns. The company appears to be well-positioned for future growth and should remain a profitable investment opportunity.
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