What is Middleby Corp's earnings per share (EPS)?

Middleby Corp (MIDD) reported diluted earnings per share of $-5.32 for fiscal year 2026. This represents a -167.3% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Middleby Corp Financials

MIDD

Source SEC Filings (10-K/10-Q) Updated Jan 3, 2026 Currency USD FYE January

This page shows Middleby Corp (MIDD) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Earnings Quality Mixed

-2.27x

For every $1 of reported earnings, Middleby Corp generates $-2.27 in operating cash flow ($630.2M OCF vs -$277.7M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Interest Coverage Safe

6.1x

Middleby Corp earns $6.1 in operating income for every $1 of interest expense ($574.9M vs $93.8M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.

Key Financial Metrics

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Earnings & Revenue

Revenue

$3.2B

YoY+1.6%

5Y CAGR+1.6%

10Y CAGR+8.4%

Middleby Corp generated $3.2B in revenue in fiscal year 2026. This represents an increase of 1.6% from the prior year.

EBITDA

$680.2M

YoY-9.1%

5Y CAGR+2.0%

10Y CAGR+9.0%

Middleby Corp's EBITDA was $680.2M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 9.1% from the prior year.

Net Income

-$277.7M

YoY-164.8%

Middleby Corp reported -$277.7M in net income in fiscal year 2026. This represents a decrease of 164.8% from the prior year.

EPS (Diluted)

$-5.32

YoY-167.3%

Middleby Corp earned $-5.32 per diluted share (EPS) in fiscal year 2026. This represents a decrease of 167.3% from the prior year.

Cash & Balance Sheet

Free Cash Flow

$559.5M

YoY-13.9%

5Y CAGR+11.1%

10Y CAGR+15.6%

Middleby Corp generated $559.5M in free cash flow in fiscal year 2026, representing cash available after capex. This represents a decrease of 13.9% from the prior year.

Cash & Debt

N/A

Dividends Per Share

N/A

Shares Outstanding

47M

10Y CAGR-1.9%

Middleby Corp had 47M shares outstanding in fiscal year 2026.

Margins & Returns

Gross Margin

39.1%

YoY-0.6pp

5Y CAGR+1.8pp

10Y CAGR+0.6pp

Middleby Corp's gross margin was 39.1% in fiscal year 2026, indicating the percentage of revenue retained after direct costs. This is down 0.6 percentage points from the prior year.

Operating Margin

18.0%

YoY-2.5pp

5Y CAGR+0.6pp

10Y CAGR+0.9pp

Middleby Corp's operating margin was 18.0% in fiscal year 2026, reflecting core business profitability. This is down 2.5 percentage points from the prior year.

Net Margin

-8.7%

YoY-22.3pp

5Y CAGR-20.6pp

10Y CAGR-19.4pp

Middleby Corp's net profit margin was -8.7% in fiscal year 2026, showing the share of revenue converted to profit. This is down 22.3 percentage points from the prior year.

Return on Equity

N/A

Capital Allocation

R&D Spending

$58.8M

YoY+15.7%

5Y CAGR+7.4%

10Y CAGR+10.6%

Middleby Corp invested $58.8M in research and development in fiscal year 2026. This represents an increase of 15.7% from the prior year.

Share Buybacks

$723.6M

YoY+1987.7%

5Y CAGR+159.5%

10Y CAGR+66.6%

Middleby Corp spent $723.6M on share buybacks in fiscal year 2026, returning capital to shareholders by reducing shares outstanding. This represents an increase of 1987.7% from the prior year.

Capital Expenditures

$70.7M

YoY+92.8%

5Y CAGR+8.7%

10Y CAGR+17.1%

Middleby Corp invested $70.7M in capex in fiscal year 2026, funding long-term assets and infrastructure. This represents an increase of 92.8% from the prior year.

MIDD Income Statement

Metric	FY26	FY24	FY23	FY22	FY21	FY19
Revenue	$3.2B+1.6%	$3.2B-2.8%	$3.2B-19.6%	$4.0B+60.5%	$2.5B-15.1%	$3.0B
Cost of Revenue	$1.9B+2.7%	$1.9B-3.0%	$2.0B-24.3%	$2.6B+58.6%	$1.6B-12.1%	$1.9B
Gross Profit	$1.3B0.0%	$1.3B-2.5%	$1.3B-11.2%	$1.4B+64.0%	$882.0M-20.1%	$1.1B
R&D Expenses	$58.8M+15.7%	$50.8M+7.9%	$47.1M-3.7%	$48.9M+38.5%	$35.3M-14.3%	$41.2M
SG&A Expenses	$663.2M+12.4%	$590.1M-5.6%	$624.9M-21.6%	$797.2M+49.9%	$531.9M-10.4%	$593.8M
Operating Income	$574.9M-10.7%	$644.1M-1.3%	$652.4M+2.0%	$639.6M+97.1%	$324.4M-36.9%	$514.0M
Interest Expense	$93.8M+0.5%	$93.4M-22.9%	$121.1M+36.1%	$89.0M+13.2%	$78.6M-4.8%	$82.6M
Income Tax	$115.0M-20.7%	$145.1M+17.9%	$123.1M-3.7%	$127.8M+110.4%	$60.8M-45.0%	$110.4M
Net Income	-$277.7M-164.8%	$428.4M+6.9%	$400.9M-8.2%	$436.6M+110.6%	$207.3M-41.1%	$352.2M
EPS (Diluted)	$-5.32-167.3%	$7.90+6.6%	$7.41-6.8%	$7.95+111.4%	$3.76-40.6%	$6.33

Metric	Q4'26	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25
Revenue	$866.4M+7.3%	$807.4M+1.3%	$796.8M+9.1%	$730.6M-11.8%	$828.8M+7.7%	$769.6M-3.7%	$798.8M+6.1%	$753.0M
Cost of Revenue	N/A	$620.8M+2.4%	$606.6M+8.2%	$560.7M	N/A	$587.4M-4.0%	$611.9M+5.4%	$580.6M
Gross Profit	$336.2M+9.5%	$307.0M-2.9%	$316.1M+8.0%	$292.6M-11.7%	$331.3M+9.5%	$302.6M-6.2%	$322.6M+9.3%	$295.2M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	$203.6M-4.7%	$213.6M+5.4%	$202.6M	N/A	$179.5M-9.6%	$198.6M-3.6%	$206.0M
Operating Income	N/A	-$554.2M-456.7%	$155.4M+10.5%	$140.6M	N/A	$173.4M-1.3%	$175.7M+28.1%	$137.1M
Interest Expense	N/A	$25.1M+26.7%	$19.8M+8.1%	$18.4M	N/A	$21.4M-12.9%	$24.6M-6.5%	$26.3M
Income Tax	N/A	-$66.0M-344.0%	$27.0M-7.1%	$29.1M	N/A	$40.5M+2.9%	$39.4M+39.3%	$28.3M
Net Income	$36.9M+107.2%	-$513.0M-584.1%	$106.0M+14.7%	$92.4M-17.8%	$112.3M-1.6%	$114.2M-1.1%	$115.4M+33.3%	$86.6M
EPS (Diluted)	$0.74+107.3%	$-10.08-606.5%	$1.99+17.8%	$1.69-18.4%	$2.07-1.9%	$2.11-0.9%	$2.13+34.0%	$1.59

MIDD Balance Sheet

Metric	FY26	FY24	FY23	FY22	FY21	FY19
Total Assets	N/A	$7.3B+5.5%	$6.9B+0.5%	$6.9B+30.0%	$5.3B+5.8%	$5.0B
Current Assets	N/A	$2.3B+18.5%	$2.0B-2.0%	$2.0B+44.0%	$1.4B+15.2%	$1.2B
Cash & Equivalents	N/A	$638.8M+158.1%	$247.5M+52.8%	$162.0M-47.6%	$309.3M+227.3%	$94.5M
Inventory	N/A	$655.9M-29.9%	$935.9M-13.2%	$1.1B+87.7%	$574.3M-2.0%	$585.7M
Accounts Receivable	N/A	$531.8M-17.5%	$644.6M+2.1%	$631.1M+47.5%	$427.9M-4.4%	$447.6M
Goodwill	N/A	$1.7B+2.3%	$1.7B-29.3%	$2.4B+25.1%	$1.9B+4.3%	$1.8B
Total Liabilities	N/A	$3.6B-0.3%	$3.7B-10.3%	$4.1B+23.7%	$3.3B+7.8%	$3.1B
Current Liabilities	N/A	$829.3M-2.6%	$851.1M-13.9%	$988.3M+38.3%	$714.4M+20.5%	$593.1M
Long-Term Debt	N/A	$2.4B-1.2%	$2.4B-11.1%	$2.7B+48.6%	$1.8B-3.7%	$1.9B
Total Equity	N/A	$3.6B+12.0%	$3.2B+16.2%	$2.8B+40.2%	$2.0B+2.5%	$1.9B
Retained Earnings	N/A	$4.3B+11.0%	$3.9B+11.5%	$3.5B+31.4%	$2.7B+12.8%	$2.4B

Metric	Q4'26	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25
Total Assets	$6.3B-0.6%	$6.4B-13.4%	$7.3B-0.9%	$7.4B+1.6%	$7.3B+1.1%	$7.2B+2.5%	$7.0B+1.4%	$6.9B
Current Assets	$2.7B+39.3%	$2.0B-12.8%	$2.3B-6.4%	$2.4B+3.6%	$2.3B+1.7%	$2.3B+6.9%	$2.1B+6.0%	$2.0B
Cash & Equivalents	$222.2M+26.9%	$175.1M-65.8%	$511.5M-31.4%	$745.1M+16.7%	$638.8M+5.4%	$606.0M+31.9%	$459.5M+34.7%	$341.0M
Inventory	$692.6M-24.7%	$919.6M+3.5%	$888.7M+1.2%	$877.7M+33.8%	$655.9M-27.6%	$905.9M-1.5%	$920.1M-2.5%	$943.7M
Accounts Receivable	$573.0M-15.0%	$673.9M+1.2%	$665.8M+3.1%	$645.5M+21.4%	$531.8M-13.5%	$615.0M-1.5%	$624.6M+3.2%	$605.2M
Goodwill	$1.8B-11.1%	$2.0B-21.9%	$2.6B+1.9%	$2.5B+45.8%	$1.7B-30.4%	$2.5B+1.4%	$2.5B-0.1%	$2.5B
Total Liabilities	$3.5B+3.6%	$3.4B-8.0%	$3.7B+1.1%	$3.7B+0.7%	$3.6B+1.0%	$3.6B+0.1%	$3.6B-0.4%	$3.6B
Current Liabilities	$1.1B+12.3%	$951.6M+8.0%	$880.8M-0.6%	$885.8M+6.8%	$829.3M+1.8%	$814.7M-4.9%	$856.9M+1.9%	$840.9M
Long-Term Debt	$2.1B+5.1%	$2.0B-13.2%	$2.3B-0.4%	$2.3B-0.4%	$2.4B-0.4%	$2.4B+0.1%	$2.4B-0.4%	$2.4B
Total Equity	$2.8B-5.5%	$2.9B-18.9%	$3.6B-2.9%	$3.7B+2.5%	$3.6B+1.3%	$3.6B+5.0%	$3.4B+3.3%	$3.3B
Retained Earnings	$4.1B+0.9%	$4.0B-11.3%	$4.5B+2.4%	$4.4B+2.1%	$4.3B+2.7%	$4.2B+2.8%	$4.1B+2.9%	$4.0B

MIDD Cash Flow Statement

Metric	FY26	FY24	FY23	FY22	FY21	FY19
Operating Cash Flow	$630.2M-8.2%	$686.8M+9.2%	$628.8M+89.1%	$332.6M-36.6%	$524.8M+39.0%	$377.4M
Capital Expenditures	$70.7M+92.8%	$36.7M-38.0%	$59.2M-12.1%	$67.3M+93.1%	$34.8M-25.2%	$46.6M
Free Cash Flow	$559.5M-13.9%	$650.1M+14.1%	$569.6M+114.7%	$265.3M-45.9%	$489.9M+48.1%	$330.8M
Investing Cash Flow	-$126.9M+20.0%	-$158.5M-1.8%	-$155.7M+55.3%	-$348.3M-226.3%	-$106.8M+67.4%	-$327.7M
Financing Cash Flow	-$970.9M-1216.2%	-$73.8M+81.1%	-$390.9M-5223.0%	$7.6M+103.0%	-$252.5M-892.2%	-$25.4M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$723.6M+1987.7%	$34.7M-53.5%	$74.6M-71.8%	$264.8M+208.3%	$85.9M+1297.7%	$6.1M

Metric	Q4'26	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25
Operating Cash Flow	$190.7M+8.2%	$176.3M+44.5%	$122.0M-13.6%	$141.1M-41.1%	$239.7M+53.0%	$156.7M+4.8%	$149.5M+6.1%	$140.9M
Capital Expenditures	-$4.2M-120.7%	$20.3M-3.1%	$20.9M-38.0%	$33.7M+6374.5%	$521K-95.5%	$11.5M+5.0%	$10.9M-20.4%	$13.7M
Free Cash Flow	$186.5M+19.5%	$156.1M+54.4%	$101.1M-5.9%	$107.4M-55.1%	$239.2M+64.8%	$145.2M+4.8%	$138.6M+9.0%	$127.2M
Investing Cash Flow	-$16.3M+68.2%	-$51.3M-110.1%	-$24.4M+29.9%	-$34.8M+69.6%	-$114.5M-737.1%	-$13.7M+3.8%	-$14.2M+11.6%	-$16.1M
Financing Cash Flow	-$104.9M+77.3%	-$462.6M-33.6%	-$346.4M-506.7%	-$57.1M-104.0%	-$28.0M-798.5%	-$3.1M+77.9%	-$14.1M+50.6%	-$28.6M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	$209.3M+40.8%	$148.6M-54.0%	$322.9M+654.9%	$42.8M+160.8%	$16.4M+5615.0%	$287K-70.6%	$976K-94.3%	$17.0M

MIDD Financial Ratios

Metric	FY26	FY24	FY23	FY22	FY21	FY19
Gross Margin	39.1%-0.6pp	39.7%+0.1pp	39.6%+3.7pp	35.9%+0.8pp	35.1%-2.2pp	37.3%
Operating Margin	18.0%-2.5pp	20.4%+0.3pp	20.1%+4.3pp	15.9%+2.9pp	12.9%-4.5pp	17.4%
Net Margin	-8.7%-22.3pp	13.6%+1.2pp	12.4%+1.5pp	10.8%+2.6pp	8.3%-3.6pp	11.9%
Return on Equity	N/A	11.8%-0.6pp	12.3%-3.3pp	15.6%+5.2pp	10.4%-7.7pp	18.1%
Return on Assets	N/A	5.9%+0.1pp	5.8%-0.5pp	6.3%+2.4pp	3.9%-3.1pp	7.0%
Current Ratio	N/A	2.81+0.5	2.31+0.3	2.03+0.1	1.95-0.1	2.04
Debt-to-Equity	N/A	0.65-0.1	0.73-0.2	0.96+0.1	0.90-0.1	0.96
FCF Margin	17.5%-3.2pp	20.6%+3.1pp	17.6%+11.0pp	6.6%-12.9pp	19.5%+8.3pp	11.2%

Metric	Q4'26	Q3'26	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25
Gross Margin	38.8%+0.8pp	38.0%-1.6pp	39.7%-0.4pp	40.1%+0.1pp	40.0%+0.7pp	39.3%-1.1pp	40.4%+1.2pp	39.2%
Operating Margin	N/A	-68.7%-88.1pp	19.5%+0.3pp	19.2%	N/A	22.5%+0.5pp	22.0%+3.8pp	18.2%
Net Margin	4.3%+67.8pp	-63.5%-76.8pp	13.3%+0.7pp	12.6%-0.9pp	13.6%-1.3pp	14.8%+0.4pp	14.4%+2.9pp	11.5%
Return on Equity	1.3%+18.8pp	-17.5%-20.4pp	2.9%+0.4pp	2.5%-0.6pp	3.1%-0.1pp	3.2%-0.2pp	3.4%+0.8pp	2.6%
Return on Assets	0.6%+8.6pp	-8.1%-9.5pp	1.4%+0.2pp	1.3%-0.3pp	1.5%-0.1pp	1.6%-0.1pp	1.6%+0.4pp	1.3%
Current Ratio	2.57+0.5	2.07-0.5	2.57-0.2	2.72-0.1	2.810.0	2.81+0.3	2.50+0.1	2.40
Debt-to-Equity	0.77+0.1	0.69+0.0	0.64+0.0	0.63-0.0	0.65-0.0	0.66-0.0	0.69-0.0	0.72
FCF Margin	21.5%+2.2pp	19.3%+6.6pp	12.7%-2.0pp	14.7%-14.2pp	28.9%+10.0pp	18.9%+1.5pp	17.3%+0.5pp	16.9%

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Frequently Asked Questions

What is Middleby Corp's annual revenue?

Middleby Corp (MIDD) reported $3.2B in total revenue for fiscal year 2026. This represents a 1.6% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Middleby Corp's revenue growing?

Middleby Corp (MIDD) revenue grew by 1.6% year-over-year, from $3.2B to $3.2B in fiscal year 2026.

Is Middleby Corp profitable?

No, Middleby Corp (MIDD) reported a net income of -$277.7M in fiscal year 2026, with a net profit margin of -8.7%.

What is Middleby Corp's EBITDA?

Middleby Corp (MIDD) had EBITDA of $680.2M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization.

What is Middleby Corp's gross margin?

Middleby Corp (MIDD) had a gross margin of 39.1% in fiscal year 2026, indicating the percentage of revenue retained after direct costs of goods sold.

What is Middleby Corp's operating margin?

Middleby Corp (MIDD) had an operating margin of 18.0% in fiscal year 2026, reflecting the profitability of core business operations before interest and taxes.

What is Middleby Corp's net profit margin?

Middleby Corp (MIDD) had a net profit margin of -8.7% in fiscal year 2026, representing the share of revenue converted into profit after all expenses.

What is Middleby Corp's free cash flow?

Middleby Corp (MIDD) generated $559.5M in free cash flow during fiscal year 2026. This represents a -13.9% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Middleby Corp's operating cash flow?

Middleby Corp (MIDD) generated $630.2M in operating cash flow during fiscal year 2026, representing cash generated from core business activities.

What are Middleby Corp's capital expenditures?

Middleby Corp (MIDD) invested $70.7M in capital expenditures during fiscal year 2026, funding long-term assets and infrastructure.

How much does Middleby Corp spend on research and development?

Middleby Corp (MIDD) invested $58.8M in research and development during fiscal year 2026.

Does Middleby Corp buy back shares?

Yes, Middleby Corp (MIDD) spent $723.6M on share buybacks during fiscal year 2026, returning capital to shareholders by reducing shares outstanding.

How many shares does Middleby Corp have outstanding?

Middleby Corp (MIDD) had 47M shares outstanding as of fiscal year 2026.

Are Middleby Corp's earnings high quality?

Middleby Corp (MIDD) has an earnings quality ratio of -2.27x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Middleby Corp cover its interest payments?

Middleby Corp (MIDD) has an interest coverage ratio of 6.1x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.