Return-on-Tangible-Asset is calculated as Net Income divided by its average total tangible assets. Total tangible assets equals to Total Assets minus Intangible Assets. The Middleby's annualizedNet Income for the quarter that ended in Dec. 2023 was $305 Mil. The Middleby's average total tangible assets for the quarter that ended in Dec. 2023 was $2,711 Mil. Therefore, The Middleby's annualized Return-on-Tangible-Asset for the quarter that ended in Dec. 2023 was 11.26%.
The historical rank and industry rank for The Middleby's Return-on-Tangible-Asset or its related term are showing as below:
MIDD'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 11.76 Med: 22.74 Max: 26.68
Current: 14.77
During the past 13 years, The Middleby's highest Return-on-Tangible-Asset was 26.68%. The lowest was 11.76%. And the median was 22.74%.
MIDD's Return-on-Tangible-Asset is ranked better than 93.01% of 3017
companies
in the Industrial Products industry
Industry Median: 3.88
vs MIDD: 14.77
The Middleby Return-on-Tangible-Asset Historical Data
The historical data trend for The Middleby's Return-on-Tangible-Asset can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Competitive Comparison of The Middleby's Return-on-Tangible-Asset
For the Specialty Industrial Machinery subindustry, The Middleby's Return-on-Tangible-Asset, along with its competitors' market caps and Return-on-Tangible-Asset data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
The Middleby's Return-on-Tangible-Asset Distribution in the Industrial Products Industry
For the Industrial Products industry and Industrials sector, The Middleby's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where The Middleby's Return-on-Tangible-Asset falls into.
The Middleby Return-on-Tangible-Asset Calculation
The Middleby's annualized Return-on-Tangible-Asset for the fiscal year that ended in Dec. 2023 is calculated as:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
In the calculation of annual Return-on-Tangible-Asset, the net income of the last fiscal year and the average total tangible assets over the fiscal year are used. In calculating the quarterly data,
the Net Income data used here is four times the quarterly (Dec. 2023) net income data.
The Middleby (NAS:MIDD) Return-on-Tangible-Asset Explanation
Return-on-Tangible-Asset measures the rate of return on the average total tangible assets (total assets minus intangible assets). Tangible means physical in nature. Intangible Assets are assets that are not physical in nature, and typically "derive their value from legal or intellectual rights." Return-on-Tangible-Asset measures a firm's efficiency at generating profits from its tangible assets. It shows how well a company uses what it has to generate earnings. Return-on-Tangible-Assets can vary drastically across industries. Therefore, Return-on-Tangible-Asset should not be used to compare companies in different industries.
Be Aware
Like ROE and ROA, Return-on-Tangible-Asset is calculated with only 12 months data. Fluctuations in the companys earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. Return-on-Tangible-Asset can be affected by events such as stock buyback or issuance, and by a companys tax rate and its interest payment. Return-on-Tangible-Asset may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).
Many analysts argue the higher return the better. Buffett states that really high Return-on-Tangible-Asset may indicate vulnerability in the durability of the competitive advantage.
The Middleby Return-on-Tangible-Asset Related Terms
Thank you for viewing the detailed overview of The Middleby's Return-on-Tangible-Asset provided by GuruFocus.com. Please click on the following links to see related term pages.
The Middleby Corp is engaged in designing, manufacturing, marketing, distribution and service of a broad line of foodservice equipment used in all types of commercial restaurants and institutional kitchens, food preparation, cooking, baking, chilling and packaging equipment for food processing operations, and premium kitchen equipment including ranges, ovens, refrigerators, ventilation, dishwashers and outdoor cooking equipment primarily used in the residential market. The company conducts its business through three principal business segments namely the Commercial Foodservice Equipment Group, the Food Processing Equipment Group and the Residential Kitchen Equipment Group. The firm derives majority revenue from Commercial Foodservice Equipment Group segment.
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