Middleby Corp (MIDD)
Pretax margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) | US$ in thousands | 519,382 | 564,369 | 619,492 | 268,057 | 462,619 |
| Revenue | US$ in thousands | 4,045,300 | 4,060,950 | 3,250,490 | 2,510,360 | 2,958,550 |
| Pretax margin | 12.84% | 13.90% | 19.06% | 10.68% | 15.64% |
December 31, 2023 calculation
Pretax margin = EBT ÷ Revenue
= $519,382K ÷ $4,045,300K
= 12.84%
Middleby Corp's pretax margin has fluctuated over the past five years. In 2023, the pretax margin decreased to 12.84% from 13.90% in 2022. This decline may indicate a decrease in profitability before accounting for taxes. Comparing to the previous years, the pretax margin was notably higher in 2021 at 19.06% and 2019 at 15.64%, showcasing stronger profitability levels during those periods. The drop in 2023 could be a result of various factors such as changes in operating expenses, sales revenue, or cost structures within the company. Further analysis is warranted to understand the underlying reasons behind this fluctuation in Middleby Corp's pretax margin performance.
Peer comparison
Dec 31, 2023