The Middleby Corporation (MIDD) vs Mirion Technologies, Inc. (MIR)

The Middleby Corporation and Mirion Technologies, Inc. are both Specialty Industrial Machinery companies. The Middleby Corporation is the larger, with a market value of $5.9B against $4.2B — 1.4× the size. The Middleby Corporation has negative trailing earnings, so its P/E is not meaningful; Mirion Technologies, Inc. trades at 146×. Mirion Technologies, Inc. grew revenue faster over the last twelve months: 19.7% against 8.43%. Mirion Technologies, Inc. has the higher net margin (2.69% vs −13.9%) and the lower return on invested capital (1.53% vs 8.97%). Across the 20 metrics below, Mirion Technologies, Inc. leads on 12 and The Middleby Corporation on 8.

Valuation

Metric MIDD MIR Specialty Industrial Machinery median
P/E n/m 145.90 25.64
P/S 1.74 3.88 2.81
P/B 2.67 2.28 2.99
Price to free cash flow 12.25 24.80 23.82
EV/EBITDA 11.30 22.16 15.15
EV/Sales 2.28 4.61 2.77
Earnings yield (7.12%) 0.69% 3.07%
Free cash flow yield 8.16% 4.03% 3.67%

Profitability

Metric MIDD MIR Specialty Industrial Machinery median
Gross margin 38.40% 48.09% 35.46%
Operating margin 17.07% 5.96% 10.04%
Net margin (13.91%) 2.69% 7.24%
Free cash flow margin 14.22% 15.63% 9.04%
Return on equity (16.16%) 1.56% 10.73%
Return on assets (7.42%) 0.83% 4.51%
Return on invested capital 8.97% 1.53% 5.00%

Growth

Metric MIDD MIR Specialty Industrial Machinery median
Revenue growth (TTM) 8.43% 19.65% 6.59%
EPS growth (last fiscal year) (167.34%) 161.11% 5.97%
Revenue growth, 5-year CAGR 4.96% 8.64% 8.53%
Net income growth, 5-year CAGR 0.00% 0.00% 6.58%

Health

Metric MIDD MIR Specialty Industrial Machinery median
Debt to equity 0.90 0.65 0.33
Current ratio 1.99 3.02 2.08
Net debt to EBITDA 2.87 4.06 1.32

Dividend

Metric MIDD MIR Specialty Industrial Machinery median
Dividend yield — — 1.11%
Payout ratio — — 0.31

Size

Metric MIDD MIR Specialty Industrial Machinery median
Market cap 5.89b 4.21b 2.19b

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