Middleby Corp income statement
In fiscal 2025, Middleby Corp reported revenue of $3.20bn, up 1.6% on the year before, operating income of $575m (a 18.0% margin) and net income of −$278m, or −$5.32 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2009Jan 2010 | 2010Jan 2011 | 2011Dec 2011 | 2012Dec 2012 | 2013Dec 2013 | 2014Jan 2015 | 2015Jan 2016 | 2016Dec 2016 | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Jan 2021 | 2021Jan 2022 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Jan 2026 | LTMJul 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 647 | 719 | 856 | 1,038 | 1,429 | 1,637 | 1,827 | 2,268 | 2,336 | 2,723 | 2,959 | 2,513 | 3,251 | 4,033 | 3,242 | 3,150 | 3,201 | 3,389 |
| Cost of revenue | 396 | 432 | 512 | 635 | 879 | 996 | 1,120 | 1,367 | 1,423 | 1,719 | 1,856 | 1,631 | 2,056 | 2,586 | 1,958 | 1,898 | 1,949 | 1,839 |
| Gross profit | 251 | 287 | 344 | 403 | 550 | 641 | 707 | 901 | 913 | 1,004 | 1,103 | 882 | 1,195 | 1,447 | 1,284 | 1,252 | 1,252 | 1,302 |
| Research and development | 7 | 8 | 10 | 14 | 21 | 23 | 22 | 26 | 29 | 35 | 41 | 35 | 42 | 49 | 47 | 51 | 59 | — |
| Selling, general and administrative | — | — | — | — | — | — | 375 | 472 | 468 | 539 | 594 | 532 | 668 | 797 | 625 | 590 | 663 | 622 |
| General and administrative | 75 | 88 | 104 | 109 | 141 | 157 | — | — | — | — | — | — | — | — | — | — | — | — |
| Operating income | 111 | 123 | 149 | 188 | 244 | 300 | 303 | 419 | 379 | 446 | 514 | 324 | 630 | 640 | 652 | 644 | 575 | 560 |
| Income before tax | 100 | 114 | 140 | 174 | 226 | 281 | 281 | 421 | 384 | 424 | 463 | 268 | 620 | 564 | 536 | 566 | 482 | 467 |
| Income tax | 39 | 41 | 45 | 54 | 72 | 87 | 90 | 137 | 85 | 106 | 110 | 61 | 131 | 128 | 123 | 145 | 115 | 130 |
| Net income | 61 | 73 | 95 | 121 | 154 | 193 | 192 | 284 | 298 | 317 | 352 | 207 | 488 | 437 | 401 | 428 | −278 | −471 |
| Diluted EPS | $1.10 | $1.32 | $1.72 | $2.20 | $2.74 | $3.40 | $3.36 | $4.98 | $5.26 | $5.70 | $6.33 | $3.76 | $8.62 | $7.95 | $7.41 | $7.90 | −$5.32 | −$9.74 |
| Diluted shares (average) | 56m | 55m | 56m | 55m | 56m | 57m | 57m | 57m | 57m | 56m | 56m | 55m | 57m | 55m | 54m | 54m | 52m | 48m |
| EBITDA | 127 | 140 | 168 | 215 | 288 | 342 | 357 | 477 | 448 | 543 | 617 | 435 | 755 | 778 | 762 | 748 | 680 | 621 |
| Quarter | 2024 Q3Sept 2024 | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Jan 2026 | 2026 Q1Apr 2026 | 2026 Q2Jul 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 770 | 829 | 731 | 797 | 807 | 866 | 840 | 876 |
| Cost of revenue | 587 | 119 | 438 | 481 | 621 | 161 | 517 | 540 |
| Gross profit | 303 | 331 | 293 | 316 | 307 | 336 | 323 | 335 |
| Selling, general and administrative | 179 | 6 | 162 | 168 | 204 | 43 | 188 | 187 |
| Operating income | 173 | 158 | 130 | 148 | −554 | 833 | 133 | 148 |
| Income before tax | 155 | 142 | 111 | 127 | −579 | 807 | 113 | 126 |
| Income tax | 41 | 37 | 26 | 25 | −66 | 125 | 28 | 43 |
| Net income | 114 | 112 | 92 | 106 | −513 | 37 | −50 | 55 |
| Diluted EPS | $2.11 | $2.07 | $1.69 | $1.99 | −$10.08 | $0.74 | −$1.06 | $1.21 |
| EBITDA | 187 | 167 | 156 | 159 | −539 | 841 | 159 | 160 |
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