Middleby Corp (MIDD)
Debt-to-equity 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-equity ratio | 0.73 | 0.96 | 0.96 | 0.86 | 0.96 |
December 31, 2023 calculation
Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $2,380,370K ÷ $3,249,890K
= 0.73
The debt-to-equity ratio of Middleby Corp has exhibited fluctuations over the past five years. In 2023, the ratio decreased to 0.73 from 0.96 in 2022, indicating a lower level of debt relative to equity. This reduction may suggest improved financial stability and lower leverage compared to the previous year.
However, when looking at a longer-term trend, the company maintained relatively consistent debt-to-equity ratios in 2022, 2021, and 2019 at 0.96, while showing a slightly lower ratio in 2020 at 0.86. These ratios indicate a moderate level of debt in relation to equity over those years.
Overall, the decreasing trend in the debt-to-equity ratio in 2023 compared to the previous year suggests that Middleby Corp may have actively managed its debt levels, potentially reducing financial risk and enhancing its financial position.
Peer comparison
Dec 31, 2023