Middleby Corp (MIDD)
Debt-to-capital 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 stockholders’ equity | US$ in thousands | 3,249,890 | 2,797,750 | 2,494,280 | 1,976,650 | 1,946,810 |
| Debt-to-capital ratio | 0.42 | 0.49 | 0.49 | 0.46 | 0.49 |
December 31, 2023 calculation
Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $2,380,370K ÷ ($2,380,370K + $3,249,890K)
= 0.42
The debt-to-capital ratio of Middleby Corp has exhibited some fluctuations over the past five years. In 2023, the ratio was 0.42, which indicates that 42% of the company's capital structure was funded through debt. This represents a decrease from the previous year, where the ratio was 0.49.
Comparing to 2021 and 2019 where the ratio also stood at 0.49 and 0.49 respectively, the 2023 ratio of 0.42 suggests a lower reliance on debt financing in the most recent year. Moreover, 2020 saw a debt-to-capital ratio of 0.46, which was slightly higher compared to 2023.
Overall, the trend in the debt-to-capital ratio of Middleby Corp indicates some variability in the company's capital structure over the five-year period, with a slight decreasing trend in recent years. It is important for stakeholders to monitor this ratio to assess the company's leverage and financial risk levels.
Peer comparison
Dec 31, 2023