Is The Middleby Corp. overvalued or undervalued?

As of 6 August 2025, The Middleby Corp. has moved from a very attractive to an attractive valuation grade. The company appears to be fairly valued based on its current metrics, with a P/E ratio of 19, an EV to EBITDA of 12.96, and a Price to Book Value of 2.43. In comparison to peers, The Middleby Corp. has a lower P/E ratio than Woodward, Inc. at 42.20 and Graco, Inc. at 29.51, indicating it is relatively more attractively priced within its industry.
Despite its attractive valuation, The Middleby Corp. has underperformed against the S&P 500 in the short term, with a year-to-date return of -0.21% compared to the S&P 500's 12.22%. This trend continues in the one-year return, where The Middleby Corp. is down 3.23% versus the S&P 500's gain of 17.14%. Overall, while the valuation metrics suggest fair value, the recent performance indicates potential challenges ahead.