Middleby Corp (MIDD)
Solvency ratios
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Debt-to-assets ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debt-to-capital ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debt-to-equity ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Financial leverage ratio | 2.00 | 2.13 | 2.46 | 2.56 | 2.63 |
Middleby Corp's solvency ratios indicate a strong financial position with consistently low debt levels relative to its assets, capital, and equity over the years analyzed. The debt-to-assets, debt-to-capital, and debt-to-equity ratios all stand at 0.00, suggesting that the company's assets, capital, and equity are not significantly financed by debt.
Additionally, the financial leverage ratio has been steadily decreasing from 2.63 in 2020 to 2.00 in 2024. This signifies that the company's reliance on debt to support its operations and growth has been diminishing, indicating a decreasing dependency on borrowed funds to finance its activities.
Overall, the solvency ratios paint a picture of Middleby Corp as having a solid financial foundation with a conservative approach to debt management and a strong ability to meet its financial obligations.
Coverage ratios
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Interest coverage | 7.26 | 5.58 | 7.30 | 11.52 | 4.44 |
Middleby Corp's interest coverage ratio has shown fluctuations over the past five years, indicating changes in its ability to cover interest expenses with its earnings.
At the end of 2020, the interest coverage ratio was 4.44, suggesting that the company's operating income was able to cover its interest expenses approximately 4.44 times.
By the end of 2021, the interest coverage ratio improved significantly to 11.52, indicating a stronger ability to meet interest obligations from operating profits.
In 2022, the ratio slightly decreased to 7.30, but it remained at a comfortable level overall, reflecting continued good capacity to handle interest payments.
The interest coverage ratio declined further to 5.58 by the end of 2023, signaling some potential strain on the company's ability to cover interest expenses through operating earnings.
However, by the end of 2024, the ratio increased to 7.26, showing an improvement in the company's ability to pay interest charges, although not back to the levels seen in 2021.
Overall, fluctuations in Middleby Corp's interest coverage ratio indicate varying levels of financial health and risk in meeting interest obligations over the past five years.