Middleby Corp (MIDD)
Pretax margin
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) (ttm) | US$ in thousands | 577,320 | 511,218 | 500,933 | 502,300 | 519,378 | 594,166 | 588,827 | 583,965 | 564,415 | 538,678 | 630,484 | 613,699 | 619,504 | 549,669 | 397,507 | 289,763 | 268,057 | 343,131 | 370,664 | 469,368 |
| Revenue (ttm) | US$ in thousands | 3,875,161 | 3,869,861 | 3,907,703 | 3,956,137 | 4,036,611 | 4,059,731 | 4,071,951 | 4,045,571 | 4,032,847 | 3,867,563 | 3,692,237 | 3,487,410 | 3,250,792 | 3,113,672 | 2,930,652 | 2,593,856 | 2,513,257 | 2,571,587 | 2,661,076 | 2,950,103 |
| Pretax margin | 14.90% | 13.21% | 12.82% | 12.70% | 12.87% | 14.64% | 14.46% | 14.43% | 14.00% | 13.93% | 17.08% | 17.60% | 19.06% | 17.65% | 13.56% | 11.17% | 10.67% | 13.34% | 13.93% | 15.91% |
December 31, 2024 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $577,320K ÷ $3,875,161K
= 14.90%
Middleby Corp's pretax margin has shown fluctuations over the past few years, ranging from a low of 10.67% in December 2020 to a high of 19.06% in December 2021. The trend indicates some variability in the company's ability to generate profits before taxes relative to its revenue during different periods.
There was a noticeable improvement in pretax margin from December 2021 to March 2022, where it increased to 17.60%, suggesting efficient cost management or potentially higher revenue generation. However, in the following quarters, the pretax margin declined slightly before picking up again in September 2022 at 13.93%.
From September 2022 to December 2024, there was a gradual increase in pretax margin, reaching 14.90% by the end of December 2024. This upward trend may indicate improved operational efficiency, better control over costs, or increased revenue streams.
Overall, despite some fluctuations, Middleby Corp has managed to maintain its pretax margin above 10% throughout the analyzed period, indicating a reasonable level of profitability before accounting for taxes. Monitoring this ratio over time can provide insights into the company's financial performance and its ability to generate profits relative to its revenue.
Peer comparison
Dec 31, 2024