Middleby Corp (MIDD)
Financial leverage ratio
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | US$ in thousands | 7,283,150 | 7,201,080 | 7,025,780 | 6,930,400 | 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 |
| Total stockholders’ equity | US$ in thousands | 3,638,430 | 3,592,940 | 3,421,910 | 3,311,240 | 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 |
| Financial leverage ratio | 2.00 | 2.00 | 2.05 | 2.09 | 2.13 | 2.24 | 2.33 | 2.43 | 2.46 | 2.67 | 2.72 | 2.67 | 2.56 | 2.51 | 2.55 | 2.65 | 2.63 | 2.47 | 2.79 | 2.79 |
December 31, 2024 calculation
Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $7,283,150K ÷ $3,638,430K
= 2.00
Middleby Corp's financial leverage ratio, which measures the extent to which the company relies on debt financing versus equity financing, has shown some fluctuation over the years. The ratio stood at 2.79 as of March 31, 2020, and remained relatively stable around this level until a slight decrease to 2.47 by September 30, 2020.
From December 31, 2020 onwards, there appears to be some volatility in the financial leverage ratio, ranging from 2.46 to 2.72 over the next few quarters. The ratio peaked at 2.72 on June 30, 2022, and gradually decreased to 2.00 by December 31, 2024.
Overall, the trend indicates that Middleby Corp's reliance on debt financing compared to equity has slightly decreased over the years, with a downward trend in the financial leverage ratio observed in the most recent quarters. This may suggest a more conservative approach to capital structure or a shift towards utilizing more equity in the company's financing mix.
Peer comparison
Dec 31, 2024