Middleby Corp (MIDD)
Operating 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating income (ttm) | US$ in thousands | 634,868 | 708,342 | 695,606 | 678,062 | 639,604 | 590,116 | 661,893 | 631,383 | 629,992 | 584,599 | 437,789 | 340,190 | 324,431 | 383,234 | 417,907 | 518,396 | 514,043 | 502,000 | 488,332 | 460,035 |
| 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 |
| Operating profit margin | 15.69% | 17.33% | 16.97% | 16.64% | 15.75% | 15.26% | 17.93% | 18.11% | 19.38% | 18.79% | 14.95% | 13.13% | 12.92% | 14.90% | 15.70% | 17.57% | 17.37% | 17.14% | 16.74% | 16.28% |
December 31, 2023 calculation
Operating profit margin = Operating income (ttm) ÷ Revenue (ttm)
= $634,868K ÷ $4,045,311K
= 15.69%
Middleby Corp's operating profit margin has shown fluctuations over the past few quarters. The operating profit margin has ranged from a low of 12.92% in March 2021 to a high of 19.38% in December 2021. In the most recent quarter, ending December 31, 2023, the operating profit margin stood at 15.69%.
Overall, the trend in operating profit margin appears to have improved since the lower levels seen in 2021, showing a general upward trajectory. This indicates that Middleby Corp has managed to increase its profitability relative to sales, which is a positive sign for the company's operating efficiency. It is important for the company to closely monitor and manage its operating expenses to sustain or improve this trend in the future.
Peer comparison
Dec 31, 2023