THE MIDDLEBY CORPORATION
Income Statement
| Line Item | FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | FY2011 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $2.72B | $2.34B | $2.27B | $1.64B | — | $1.43B | $1.04B | $855.9M |
| Cost of Revenue | $1.72B | $1.42B | $1.37B | $996.0M | — | $878.7M | $635.2M | $511.8M |
| Gross Profit | $1.00B | $912.7M | $901.2M | $640.6M | — | $550.0M | $403.0M | $344.1M |
| Gross Margin | 36.9% | 39.1% | 39.7% | 39.1% | — | 38.5% | 38.8% | 40.2% |
| Operating Expenses | ||||||||
| Research & Development | $35.3M | $29.1M | $26.3M | $22.6M | — | $21.4M | $14.1M | $10.4M |
| SG&A Expense | $538.8M | $468.2M | $471.6M | $157.0M | — | $140.8M | $108.8M | $104.3M |
| Operating Income | $446.0M | $378.6M | $419.0M | $300.4M | — | $244.5M | $188.1M | $148.7M |
| Operating Margin | 16.4% | 16.2% | 18.5% | 18.4% | — | 17.1% | 18.1% | 17.4% |
| Interest Expense | — | — | — | — | — | — | — | — |
| Pretax Income | $423.5M | $383.5M | $421.3M | $280.8M | — | $225.8M | $174.4M | $140.4M |
| Income Tax Expense | $106.4M | $85.4M | $137.1M | $87.5M | — | $71.9M | $53.7M | $45.0M |
| Net Income | $317.2M | $298.1M | $284.2M | $193.3M | — | $153.9M | $120.7M | $95.5M |
| Net Margin | 11.6% | 12.8% | 12.5% | 11.8% | — | 10.8% | 11.6% | 11.2% |
| EPS (Basic) | $5.71 | $5.26 | $4.98 | $3.41 | — | $2.76 | $2.22 | $1.77 |
| EPS (Diluted) | $5.70 | $5.26 | $4.98 | $3.40 | — | $2.74 | $2.20 | $1.72 |
| Shares Outstanding (Basic) | 55.6M | 56.7M | 57.0M | 56.8M | 19.1M | 55.8M | 54.4M | 54.0M |
| Shares Outstanding (Diluted) | 55.6M | 56.7M | 57.1M | 56.8M | 19.1M | 56.1M | 54.8M | 55.6M |
| Dividends Per Share | — | — | — | — | — | — | — | — |