MIDDLEBY Corp (MIDDV)

Refrigeration & Service Industry Machinery

Latest Price

$139.52

TTM P/E

Normalized P/E

34.22

Div Yield

Book Value

50.28

P/B Ratio

2.77

Valuation metrics

Norm. op. income: $605M (median of 6yr)

Tax rate: 23%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$52.34

62% downside

Base FCF: $544M (median of recent 5yr)

Growth: 17%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$404.92

+190% upside