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The Middleby (The Middleby) Cyclically Adjusted Book per Share : $37.04 (As of Dec. 2023)


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What is The Middleby Cyclically Adjusted Book per Share?

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Book per Share and the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted Book Value per Share of a company over the past 10 years.

The Middleby's adjusted book value per share for the three months ended in Dec. 2023 was $60.628. Add all the adjusted book value per share for the past 10 years together and divide the count will get our Cyclically Adjusted Book per Share, which is $37.04 for the trailing ten years ended in Dec. 2023.

During the past 12 months, The Middleby's average Cyclically Adjusted Book Growth Rate was 15.80% per year. During the past 3 years, the average Cyclically Adjusted Book Growth Rate was 18.50% per year. During the past 5 years, the average Cyclically Adjusted Book Growth Rate was 18.10% per year. During the past 10 years, the average Cyclically Adjusted Book Growth Rate was 20.00% per year. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Cyclically Adjusted Book Growth Rate using Cyclically Adjusted Book per Share data.

During the past 13 years, the highest 3-Year average Cyclically Adjusted Book Growth Rate of The Middleby was 34.20% per year. The lowest was 14.30% per year. And the median was 22.10% per year.

As of today (2024-04-28), The Middleby's current stock price is $141.25. The Middleby's Cyclically Adjusted Book per Share for the quarter that ended in Dec. 2023 was $37.04. The Middleby's Cyclically Adjusted PB Ratio of today is 3.81.

During the past 13 years, the highest Cyclically Adjusted PB Ratio of The Middleby was 17.10. The lowest was 2.43. And the median was 7.75.


The Middleby Cyclically Adjusted Book per Share Historical Data

The historical data trend for The Middleby's Cyclically Adjusted Book per Share 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.

* Premium members only.

The Middleby Cyclically Adjusted Book per Share Chart

The Middleby Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Cyclically Adjusted Book per Share
Get a 7-Day Free Trial Premium Member Only Premium Member Only 19.27 22.25 26.87 31.99 37.04

The Middleby Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
Cyclically Adjusted Book per Share Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 31.99 33.48 34.83 36.13 37.04

Competitive Comparison of The Middleby's Cyclically Adjusted Book per Share

For the Specialty Industrial Machinery subindustry, The Middleby's Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio 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 Cyclically Adjusted PB Ratio Distribution in the Industrial Products Industry

For the Industrial Products industry and Industrials sector, The Middleby's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where The Middleby's Cyclically Adjusted PB Ratio falls into.



The Middleby Cyclically Adjusted Book per Share Calculation

E10 is a concept invented by Prof. Robert Shiller, who uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted Book per Share and the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted Book Value per Share of a company over the past 10 years.

What is Cyclically Adjusted Book per Share? How do we calculate Cyclically Adjusted Book per Share?

Cyclically Adjusted Book per Share is the average of the inflation adjusted Book Value per Share of a company over the past 10 years. Let's use an example to explain.

If we want to calculate the Cyclically Adjusted Book per Share of Wal-Mart (WMT) for Dec. 31, 2010, we need to have the inflation data and the book value per share from 2001 through 2010.

We adjusted the 2001 book value per share data with the total inflation from 2001 through 2010 to the equivalent book value in 2010. If the total inflation from 2001 to 2010 is 40%, and Wal-Mart's book value is $1 a share in 2001, then the 2001's equivalent book value in 2010 is $1.4 a share. If Wal-Mart's book value is $1 again in 2002, and the total inflation from 2002 through 2010 is 35%, then the equivalent 2002 book value in 2010 is $1.35. So on and so forth, you get the equivalent book value per share of past 10 years. Then you add them together and divided the sum by the count to get Cyclically Adjusted Book per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

For example, The Middleby's adjusted Book Value per Share data for the three months ended in Dec. 2023 was:

Adj_Book= Book Value per Share /CPI of Dec. 2023 (Change)*Current CPI (Dec. 2023)
=60.628/129.4194*129.4194
=60.628

Current CPI (Dec. 2023) = 129.4194.

The Middleby Quarterly Data

Book Value per Share CPI Adj_Book
201403 14.952 99.695 19.410
201406 15.909 100.560 20.475
201409 16.818 100.428 21.673
201412 17.579 99.070 22.964
201503 17.940 99.621 23.306
201506 19.100 100.684 24.551
201509 19.790 100.392 25.512
201512 20.361 99.792 26.406
201603 21.278 100.470 27.409
201606 22.331 101.688 28.421
201609 23.401 101.861 29.732
201612 21.990 101.863 27.939
201703 23.009 102.862 28.950
201706 24.779 103.349 31.030
201709 23.456 104.136 29.151
201712 24.424 104.011 30.390
201803 25.860 105.290 31.787
201806 26.939 106.317 32.793
201809 28.178 106.507 34.240
201812 29.894 105.998 36.499
201903 31.008 107.251 37.417
201906 32.301 108.070 38.682
201909 33.060 108.329 39.496
201912 34.647 108.420 41.358
202003 34.256 108.902 40.710
202006 34.899 108.767 41.525
202009 36.526 109.815 43.047
202012 35.527 109.897 41.838
202103 35.867 111.754 41.536
202106 38.217 114.631 43.147
202109 41.329 115.734 46.216
202112 44.945 117.630 49.450
202203 44.639 121.301 47.627
202206 44.873 125.017 46.453
202209 46.369 125.227 47.922
202212 52.105 125.222 53.852
202303 53.447 127.348 54.316
202306 56.000 128.729 56.300
202309 57.743 129.860 57.547
202312 60.628 129.419 60.628

Add all the adjusted book value per share together and divide the count will get our Cyclically Adjusted Book per Share.


The Middleby  (NAS:MIDD) Cyclically Adjusted Book per Share Explanation

If a company grows much fast than inflation, Cyclically Adjusted Book per Share may underestimate the company's equity. Cyclically Adjusted PB Ratio can seem to be too high even the actual PB Ratio is low.

For the Cyclically Adjusted PB Ratio, the book value of the past 10 years are inflation-adjusted and averaged. The result is used for P/B calculation. Since it looks at the average over the last 10 years, the Cyclically Adjusted PB Ratio is also called CAPB Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted book value per share of a company over the past 10 years.

The Middleby's Cyclically Adjusted PB Ratio of today is calculated as

Cyclically Adjusted PB Ratio=Share Price/Cyclically Adjusted Book per Share
=141.25/37.04
=3.81

* 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.

During the past 13 years, the highest Cyclically Adjusted PB Ratio of The Middleby was 17.10. The lowest was 2.43. And the median was 7.75.


Be Aware

Cyclically Adjusted PB Ratio works better for cyclical companies. It gives you a better idea on the company's real book value.


The Middleby Cyclically Adjusted Book per Share Related Terms

Thank you for viewing the detailed overview of The Middleby's Cyclically Adjusted Book per Share provided by GuruFocus.com. Please click on the following links to see related term pages.


The Middleby (The Middleby) Business Description

Industry
Traded in Other Exchanges
Address
1400 Toastmaster Drive, Elgin, IL, USA, 60120
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.
Executives
Chapin Sarah Palisi director 1400 TOASTMASTER DRIVE, ELGIN IL 60120
Pool Iii James K officer: Chief Technology and* 1400 TOASTMASTER DRIVE, ELGIN IL 60120
Robert A Nerbonne director 1400 TOASTMASTER DRIVE, ELGIN IL 60120
Miller John R Iii director C/O THE MIDDLEBY CORPORATION, 1400 TOASTMASTER DRIVE, ELGIN IL 60120
Matthew R Fuchsen officer: Chief Development Officer 1400 TOASTMASTER DRIVE, ELGIN IL 60120
Brittany C Cerwin officer: Chief Accounting Officer 1400 TOASTMASTER DRIVE, ELGIN IL 60120
Cathy L Mccarthy director 1400 TOASTMASTER DRIVE, ELGIN IL 60120
Nassem Ziyad director C/O MIDDLEBY CORPORATION, 1400 TOASTMASTER DRIVE, ELGIN IL 60120
Timothy John Fitzgerald officer: Chief Financial Officer C/O MIDDLEBY CORPORATON, 1400 TOASTMASTER DRIVE, ELGIN IL 60120
Steve Spittle officer: Chief Commercial Officer 1400 TOASTMASTER DRIVE, ELGIN IL 60120
Bryan E. Mittelman officer: Chief Accounting Officer THE MIDDLEBY CORPORATION, 1400 TOASTMASTER DRIVE, ELGIN IL 60120
Martin M Lindsay officer: Treasurer C/O THE MIDDLEBY CORPORATION, 1400 TOASTMASTER DR, ELGIN IL 60120
Gordon Obrien director 1400 TOASTMASTER DRIVE, ELGIN IL 60120
Robert B Lamb director C/O THE MIDDLEBY CORPORATION, 1400 TOASTMASTER DR, ELGIN IL 60120
Selim A Bassoul director, officer: Chief Executive Officer C/O MIDDLEBY CORP, 1400 TOASTMASTER DRIVE, ELGIN IL 8477413300