Middleby Corp (MIDD)
Debt-to-assets ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 2,380,370 | 2,676,740 | 2,387,000 | 1,706,650 | 1,870,250 |
| Total assets | US$ in thousands | 6,906,690 | 6,874,870 | 6,383,600 | 5,202,470 | 5,002,140 |
| Debt-to-assets ratio | 0.34 | 0.39 | 0.37 | 0.33 | 0.37 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $2,380,370K ÷ $6,906,690K
= 0.34
Middleby Corp's debt-to-assets ratio has shown some fluctuations over the past five years. The ratio decreased from 0.37 in 2019 to 0.33 in 2020, indicating a lower proportion of debt relative to assets in 2020. However, from 2020 to 2022, the ratio increased from 0.33 to 0.39, suggesting a higher level of debt in relation to assets during this period.
In 2023, the debt-to-assets ratio decreased to 0.34, signifying a slight improvement in the company's debt management compared to the previous year. Overall, while the company's debt-to-assets ratio has fluctuated over the years, it has generally remained within a reasonable range, indicating a moderate level of leverage in financing its operations and investments. Further analysis of the company's debt structure and overall financial health would be necessary to fully assess the implications of these ratios.
Peer comparison
Dec 31, 2023