Middleby Corp (MIDD)
Pretax margin
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) | US$ in thousands | 577,320 | 519,378 | 564,415 | 619,504 | 268,057 |
| Revenue | US$ in thousands | 3,875,160 | 4,036,600 | 4,032,850 | 3,250,790 | 2,513,260 |
| Pretax margin | 14.90% | 12.87% | 14.00% | 19.06% | 10.67% |
December 31, 2024 calculation
Pretax margin = EBT ÷ Revenue
= $577,320K ÷ $3,875,160K
= 14.90%
Middleby Corp's pretax margin has shown fluctuations over the years. It increased from 10.67% in December 31, 2020 to 19.06% in December 31, 2021, indicating a significant improvement in profitability. However, in the following years, the pretax margin declined to 14.00% in December 31, 2022, 12.87% in December 31, 2023, and then rebounded to 14.90% in December 31, 2024.
The analysis suggests that Middleby Corp experienced a substantial increase in profitability in 2021, possibly due to effective cost management or increased revenue generation. The subsequent decline in pretax margin in the following years could be attributed to various factors such as changes in operating expenses, pricing strategies, or economic conditions affecting the company's performance.
Overall, Middleby Corp's pretax margin performance demonstrates both positive and challenging trends, highlighting the importance of monitoring profitability metrics to assess the company's financial health and operational efficiency.
Peer comparison
Dec 31, 2024