Middleby Corp (MIDD)

Current ratio

Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Total current assets US$ in thousands 1,965,860 1,960,860 2,036,200 2,060,520 2,006,000 1,950,540 1,935,260 1,823,820 1,707,080 1,507,740 1,525,920 1,393,110 1,270,490 1,241,180 1,651,270 1,507,660 1,209,200 1,200,450 1,184,920 1,111,140
Total current liabilities US$ in thousands 851,094 864,247 878,405 990,309 988,284 937,778 976,414 918,401 914,888 822,836 731,837 714,437 700,258 596,994 504,553 607,232 593,137 585,244 565,297 561,557
Current ratio 2.31 2.27 2.32 2.08 2.03 2.08 1.98 1.99 1.87 1.83 2.09 1.95 1.81 2.08 3.27 2.48 2.04 2.05 2.10 1.98

December 31, 2023 calculation

Current ratio = Total current assets ÷ Total current liabilities
= $1,965,860K ÷ $851,094K
= 2.31

The current ratio of Middleby Corp has shown fluctuations over the past five years, ranging from a low of 1.81 to a high of 3.27. The current ratio measures the company's ability to cover its short-term liabilities with its current assets. A current ratio above 1 indicates that the company has more current assets than current liabilities, providing a margin of safety.

Based on the data provided, Middleby Corp's current ratio has generally been above 2, indicating a healthy liquidity position. The company has improved its current ratio over the years, reaching a high of 3.27 in June 2020, which suggests the company had a significant amount of current assets relative to its current liabilities at that time.

However, it is worth noting that there have been periods where the current ratio dipped below 2, such as in December 2021 and March 2023, which may indicate a tighter liquidity position during those periods. Overall, while the company's current ratio has shown variability, it has generally stayed above the threshold of 2, signaling a satisfactory ability to meet its short-term obligations with its current assets.


Peer comparison

Dec 31, 2023