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