Is The Middleby Corp. overvalued or undervalued?

As of 17 October 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. The P/E ratio stands at 19, while the EV to EBITDA ratio is 12.96, and the Price to Book Value is 2.43. In comparison to peers, Woodward, Inc. is very expensive with a P/E of 42.20, while Graco, Inc. is considered fair with a P/E of 29.51.
In terms of stock performance, The Middleby Corp. has underperformed relative to the S&P 500 over the one-year and three-year periods, with returns of -4.44% and 2.34%, respectively, compared to 14.08% and 81.19% for the index. This underperformance may suggest that the stock is currently priced fairly in relation to its peers and the broader market.