Middleby Corp (MIDD)
Return on total capital
| 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 interest and tax (EBIT) (ttm) | US$ in thousands | 682,198 | 632,641 | 606,773 | 605,343 | 585,402 | 650,047 | 663,320 | 645,776 | 602,192 | 534,227 | 476,734 | 459,523 | 477,920 | 433,158 | 433,324 | 306,383 | 315,845 | 380,882 | 374,551 | 465,389 |
| Long-term debt | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total stockholders’ equity | US$ in thousands | 3,638,430 | 3,592,940 | 3,421,910 | 3,311,240 | 3,249,890 | 3,095,220 | 2,999,530 | 2,862,200 | 2,797,750 | 2,498,540 | 2,417,970 | 2,427,970 | 2,494,280 | 2,298,970 | 2,125,880 | 1,995,210 | 1,976,650 | 2,031,320 | 1,939,520 | 1,894,710 |
| Return on total capital | 18.75% | 17.61% | 17.73% | 18.28% | 18.01% | 21.00% | 22.11% | 22.56% | 21.52% | 21.38% | 19.72% | 18.93% | 19.16% | 18.84% | 20.38% | 15.36% | 15.98% | 18.75% | 19.31% | 24.56% |
December 31, 2024 calculation
Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $682,198K ÷ ($—K + $3,638,430K)
= 18.75%
Middleby Corp's return on total capital has shown some fluctuations over the period from March 31, 2020, to December 31, 2024. The ratio stood at 24.56% on March 31, 2020, indicating that for every dollar of total capital employed, the company generated a return of 24.56 cents.
Subsequently, the return on total capital decreased to 15.98% by December 31, 2020, but then showed an improvement to 20.38% by June 30, 2021. This increase was followed by some variations in the ratio, ranging from 15.36% to 22.56% over the next few quarters.
By December 31, 2024, Middleby Corp's return on total capital had slightly recovered to 18.75%. These fluctuations in the performance measure suggest changes in the efficiency and profitability of the company in utilizing its total capital to generate earnings. Further analysis of the factors influencing these fluctuations could provide insights into Middleby Corp's financial performance and strategic decisions.
Peer comparison
Dec 31, 2024