The Middleby Corporation
Income Statement
| Line Item | FY2026 | FY2024 | FY2023 | FY2022 | FY2021 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $3.20B | $3.15B | $3.24B | $4.03B | $2.51B | $2.96B | $2.72B | $2.34B |
| Cost of Revenue | $1.95B | $1.90B | $1.96B | $2.59B | $1.63B | $1.86B | $1.72B | $1.42B |
| Gross Profit | $1.25B | $1.25B | $1.28B | $1.45B | $882.0M | $1.10B | $1.00B | $912.7M |
| Gross Margin | 39.1% | 39.7% | 39.6% | 35.9% | 35.1% | 37.3% | 36.9% | 39.1% |
| Operating Expenses | ||||||||
| Research & Development | $58.8M | $50.8M | $47.1M | $48.9M | $35.3M | $41.2M | $35.3M | $29.1M |
| SG&A Expense | $663.2M | $590.1M | $624.9M | $797.2M | $531.9M | $593.8M | $538.8M | $468.2M |
| Operating Income | $574.9M | $644.1M | $652.4M | $639.6M | $324.4M | $514.0M | $446.0M | $378.6M |
| Operating Margin | 18.0% | 20.4% | 20.1% | 15.9% | 12.9% | 17.4% | 16.4% | 16.2% |
| Interest Expense | — | — | — | — | — | — | — | — |
| Pretax Income | $482.3M | $566.1M | $536.1M | $564.4M | $268.1M | $462.6M | $423.5M | $383.5M |
| Income Tax Expense | $115.0M | $145.1M | $123.1M | $127.8M | $60.8M | $110.4M | $106.4M | $85.4M |
| Net Income | $-277.7M | $428.4M | $400.9M | $436.6M | $207.3M | $352.2M | $317.2M | $298.1M |
| Net Margin | -8.7% | 13.6% | 12.4% | 10.8% | 8.2% | 11.9% | 11.6% | 12.8% |
| EPS (Basic) | $-5.38 | $7.97 | $7.48 | $8.07 | $3.76 | $6.33 | $5.71 | $5.26 |
| EPS (Diluted) | $-5.32 | $7.90 | $7.41 | $7.95 | $3.76 | $6.33 | $5.70 | $5.26 |
| Shares Outstanding (Basic) | 51.7M | 53.7M | 53.6M | 54.1M | 55.1M | 55.6M | 55.6M | 56.7M |
| Shares Outstanding (Diluted) | 52.2M | 54.2M | 54.1M | 54.9M | 55.1M | 55.7M | 55.6M | 56.7M |
| Dividends Per Share | — | — | — | — | — | — | — | — |