Middleby Corp (MIDD)
Gross profit margin
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross profit (ttm) | US$ in thousands | 1,534,062 | 1,537,363 | 1,527,273 | 1,494,779 | 1,446,554 | 1,372,117 | 1,306,512 | 1,249,496 | 1,194,860 | 1,135,210 | 1,058,332 | 907,732 | 882,048 | 915,743 | 963,022 | 1,096,375 | 1,103,497 | 1,094,407 | 1,085,539 | 1,049,819 |
| Revenue (ttm) | US$ in thousands | 4,045,311 | 4,087,831 | 4,100,051 | 4,073,671 | 4,060,947 | 3,867,263 | 3,691,937 | 3,487,110 | 3,250,492 | 3,110,772 | 2,927,752 | 2,590,956 | 2,510,357 | 2,571,587 | 2,661,076 | 2,950,103 | 2,959,446 | 2,928,492 | 2,917,809 | 2,824,933 |
| Gross profit margin | 37.92% | 37.61% | 37.25% | 36.69% | 35.62% | 35.48% | 35.39% | 35.83% | 36.76% | 36.49% | 36.15% | 35.03% | 35.14% | 35.61% | 36.19% | 37.16% | 37.29% | 37.37% | 37.20% | 37.16% |
December 31, 2023 calculation
Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $1,534,062K ÷ $4,045,311K
= 37.92%
The gross profit margin of Middleby Corp has shown fluctuations over the historical periods analyzed. The margin has generally been above 35%, indicating that the company is effectively managing its production costs and generating a reasonable profit on sales. There has been a gradual improvement in the gross profit margin trend from the first quarter of 2019 through to the end of 2023, reaching a peak of 37.92% in December 2023. This suggests that the company's pricing strategy, cost control measures, and operational efficiencies have been effective in enhancing profitability. However, it is essential to further analyze the underlying factors driving these fluctuations to gain a deeper understanding of Middleby Corp's financial performance.
Peer comparison
Dec 31, 2023