Middleby Corp (MIDD)
Return on equity (ROE)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 400,882 | 436,569 | 488,492 | 207,294 | 352,240 |
| Total stockholders’ equity | US$ in thousands | 3,249,890 | 2,797,750 | 2,494,280 | 1,976,650 | 1,946,810 |
| ROE | 12.34% | 15.60% | 19.58% | 10.49% | 18.09% |
December 31, 2023 calculation
ROE = Net income ÷ Total stockholders’ equity
= $400,882K ÷ $3,249,890K
= 12.34%
The return on equity (ROE) of Middleby Corp has exhibited some fluctuation over the past five years. In 2023, the ROE decreased to 12.34% from 15.60% in 2022, representing a decline in the company's profitability in generating returns for its shareholders.
Compared to 2021 when the ROE stood at 19.58%, there was a significant drop in profitability in 2023. The ROE in 2020 was 10.49%, indicating a lower level of return generated on equity compared to 2023.
In 2019, Middleby Corp achieved an ROE of 18.09%, which was higher than the current ROE in 2023. The fluctuation in ROE over the years suggests varying levels of efficiency in utilizing shareholder equity to generate profits for the company. Further analysis of the company's financial performance and operational efficiency may be necessary to identify the factors contributing to these fluctuations in ROE.
Peer comparison
Dec 31, 2023