Middleby Corp (MIDD)

Debt-to-equity 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-equity ratio 0.73 0.82 0.90 0.94 0.96 1.08 1.09 1.06 0.96 0.81 0.84 0.90 0.86 0.89 1.22 1.15 0.96 1.05 1.11 1.09

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 demonstrated fluctuations over the past several quarters. The ratio has ranged from a low of 0.73 to a high of 1.22 during this period. A decreasing trend in the ratio generally indicates a lower reliance on debt financing compared to equity, while an increasing trend may suggest higher leverage and financial risk.

In more recent quarters, the debt-to-equity ratio has been relatively volatile, with values moving between 0.81 and 1.22. This variability could be attributed to changes in the company's capital structure, such as taking on additional debt for acquisitions, investments, or other strategic initiatives.

It is important to note that a debt-to-equity ratio above 1 indicates that the company has more debt than equity, which may signal potential financial risks and higher interest expenses. Conversely, a ratio below 1 suggests a more conservative financial approach with lower debt levels relative to equity.

Further analysis of the reasons behind the fluctuations in the debt-to-equity ratio, along with consideration of other financial metrics and factors impacting Middleby Corp's operations, would be necessary to gain a more comprehensive understanding of the company's financial health and risk profile.


Peer comparison

Dec 31, 2023