Middleby Corp (MIDD)
Debt-to-assets ratio
| 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 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 2,380,370 | 2,535,900 | 2,687,540 | 2,688,420 | 2,676,740 | 2,693,320 | 2,647,310 | 2,570,130 | 2,387,000 | 1,866,020 | 1,795,590 | 1,801,040 | 1,706,650 | 1,808,970 | 2,372,940 | 2,177,150 | 1,870,250 | 1,955,900 | 1,991,980 | 1,889,290 |
| Total assets | US$ in thousands | 6,906,690 | 6,922,610 | 6,984,760 | 6,956,140 | 6,874,870 | 6,671,860 | 6,579,370 | 6,474,160 | 6,383,600 | 5,772,850 | 5,422,780 | 5,289,910 | 5,202,470 | 5,020,180 | 5,414,700 | 5,277,980 | 5,002,140 | 4,928,530 | 4,886,670 | 4,688,120 |
| Debt-to-assets ratio | 0.34 | 0.37 | 0.38 | 0.39 | 0.39 | 0.40 | 0.40 | 0.40 | 0.37 | 0.32 | 0.33 | 0.34 | 0.33 | 0.36 | 0.44 | 0.41 | 0.37 | 0.40 | 0.41 | 0.40 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $2,380,370K ÷ $6,906,690K
= 0.34
The debt-to-assets ratio of Middleby Corp has shown some fluctuations over the past few quarters. The ratio has been relatively stable around 0.37 to 0.40 since the end of 2021, with a peak of 0.44 in the second quarter of 2020. This indicates that Middleby Corp finances a significant portion of its assets through debt, with debt making up around 37% to 40% of its total assets in recent quarters.
It is essential to monitor changes in the debt-to-assets ratio over time, as significant increases may indicate higher financial leverage and potential risks associated with servicing debt obligations. Conversely, a decreasing ratio could suggest improved financial health and lower reliance on debt for funding operations.
Overall, a debt-to-assets ratio of around 0.37 to 0.40 for Middleby Corp reflects a moderate level of leverage in managing its assets, and investors should continue to assess changes in this ratio alongside other financial metrics when evaluating the company's financial position and risk profile.
Peer comparison
Dec 31, 2023