Middleby Corporation (The) Common Stock (MIDD)

FairStock Score: 40/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

As a value investor, I begin with consistency, and Middleby has not been consistent lately. The company sells commercial foodservice and food-processing equipment worldwide, but the reported numbers are choppy. In fiscal Q2 2026, the quarter ended 2026-07-04, revenue was $875.5 million and net income was $54.8 million, or $1.21 per diluted share. That was a welcome rebound from fiscal Q1 2026, ended 2026-04-04, when Middleby lost $50.1 million, or $1.06 per share. The bigger blow came in fiscal Q3 2025, ended 2025-09-27, with a net loss of $513.0 million and a loss of $10.08 per share. That drove fiscal 2025 to a net loss of $277.7 million and a loss of $5.32 per diluted share, versus fiscal 2024 net income of $428.4 million and $7.90 per share. This is why FairStock labels it a TURNAROUND: a loss in the latest year after earlier profits. On price, at the 2026-10-13 close of $106.46, FairStock calculates a P/E of 16.18, P/B of 2.18, a Graham Number of $85.06, and a margin of safety of -25.16%, so the shares are not obviously cheap. The attractive part is cash: the trailing free cash flow figure is $482.1 million, and FairStock calculates a 10.0% FCF yield. Piotroski is 7/9, Altman Z is 2.41, debt-to-equity is 0.91, and ROCE is 5.93%. I would need to see the Q2 2026 profit repeat before calling this a durable recovery.

In plain English: Middleby makes cooking and food-processing equipment for restaurants and food factories around the world. The business looks mixed: it lost money in fiscal 2025 after profits in fiscal 2024 and fiscal 2023, but it earned a profit in the latest quarter, fiscal Q2 2026, ended 2026-07-04. At the 2026-10-13 closing price of $106.46, the stock looks somewhat full compared with a conservative value estimate, even though it produces a lot of cash.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-07-04) · fiscal Q1 2026 10-Q (period ended 2026-04-04) · fiscal Q4 2025 10-K (period ended 2026-01-03) · fiscal Q3 2025 10-K (period ended 2025-09-27) · FY2025 10-K (period ended 2026-01-03) · FY2024 10-K (period ended 2024-12-28) · FY2023 10-K (period ended 2023-12-30)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer