What is Middleby's work in process?

Middleby (MIDD) reported work in process of $104.35M in Q1 2026.

How has Middleby's work in process changed year-over-year?

Middleby's work in process increased by 15.9% year-over-year, from $90.01M to $104.35M.

What is the long-term trend for Middleby's work in process?

Over 5 years (2020 to 2025), Middleby's work in process has grown at a 11.1% compound annual growth rate (CAGR), from $55.1M to $93.33M.

What does work in process mean?

Partially completed goods currently in the manufacturing process, including materials, labor, and overhead costs incurred to date.

Middleby MIDD Work in process

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Other financials

Income statement

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Revenue$839.9M+15.0%

Gross profit$323.2M+10.5%

Operating income$133.4M+3.0%

Net income-$50.1M-154%

EPS (diluted)-$1.06-163%

Balance sheet

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Cash & equivalents$177.1M-76.2%

Total debt$1.9B+131%

Total equity$2.4B-36.3%

Total assets$5.4B-26.7%

Cash flow

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Operating cash flow$65.6M-53.5%

CapEx$7.9M-70.0%

Free cash flow$57.7M-49.7%

Valuation

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Market cap$7.79B-7.9%

Enterprise value$9.51B+15.1%

P/S2.4×-0.4×

Profitability

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Gross margin31.3%-0.4pp

Operating margin17.1%-3.2pp

Net margin-12.7%-26.6pp

FCF margin15.2%-5.2pp

Returns & leverage

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Return on equity-13.8%-26.1pp

Debt / equity0.8×+0.6×

Current ratio2×-0.8×

Where this comes from

Reported directly by Middleby in its filing.

Tagged under the XBRL concept us-gaap:InventoryWorkInProcessNetOfReserves.

The official record: Middleby’s 10-Q, filed May 14, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Middleby's work in process?: Middleby (MIDD) reported work in process of $104.35M in Q1 2026.
How has Middleby's work in process changed year-over-year?: Middleby's work in process increased by 15.9% year-over-year, from $90.01M to $104.35M.
What is the long-term trend for Middleby's work in process?: Over 5 years (2020 to 2025), Middleby's work in process has grown at a 11.1% compound annual growth rate (CAGR), from $55.1M to $93.33M.
What does work in process mean?: Partially completed goods currently in the manufacturing process, including materials, labor, and overhead costs incurred to date.