Middleby Corp (MIDD)
Debt-to-capital 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 stockholders’ equity | US$ in thousands | 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 | 1,946,810 | 1,856,030 | 1,798,250 | 1,726,060 |
| Debt-to-capital ratio | 0.42 | 0.45 | 0.47 | 0.48 | 0.49 | 0.52 | 0.52 | 0.51 | 0.49 | 0.45 | 0.46 | 0.47 | 0.46 | 0.47 | 0.55 | 0.53 | 0.49 | 0.51 | 0.53 | 0.52 |
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 shown some fluctuations over the past five years, ranging from 0.42 to 0.55. This ratio reflects the proportion of debt in the company's capital structure, with a higher ratio indicating higher reliance on debt financing. The trend indicates some variability, with occasional increases and decreases in the ratio. However, the ratio has generally remained within a relatively narrow range between 0.42 and 0.55 during the period under review. This suggests that Middleby Corp has maintained a relatively stable debt-to-capital structure over the past five years, with fluctuations possibly influenced by strategic financing decisions or changes in the business environment. Overall, the debt-to-capital ratio provides insight into the company's leverage position and its ability to meet financial obligations.
Peer comparison
Dec 31, 2023