The MiddlebyFRA:MBY +0.88%73 3-Year ROIIC % is 11.19 as of Dec. 2025, which is 21% above its 10-year median of 9.24. GuruFocus rates FRA:MBY with a GF Score™ of 73/100 and a GF Value™ of €90.34 (Modestly Overvalued). The stock has 5 warning signs investors should review. Among 2,937 Industrial Products companies, The Middleby ranks better than 64.01% on this metric.
3-Year Return on Invested Incremental Capital (3-Year ROIIC %) measures the change in earnings as a percentage of change in investment over 3-year.
The Middleby's 3-Year ROIIC % for the quarter that ended in Dec. 2025 was 11.19%. High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
The industry rank for The Middleby's 3-Year ROIIC % or its related term are showing as below:
FRA:MBY's 3-Year ROIIC % is ranked better than 64.01% of 2937
companies
in the Industrial Products industry
Industry Median: 3.36
vs FRA:MBY: 11.19
The Middleby (FRA:MBY) 3-Year ROIIC % Explanation
Return on Incremental Invested Capital (ROIIC) is an extension of Return on Investment Capital (ROIC). ROIC % tells investors how efficiently that profitability is earned per dollar of company capital. ROIIC narrows the focus even further and shows how profitable each additional unit of capital investment could be. ROIIC % is a more powerful metric than ROIC because it measures how much money the company can generate going forward on future capital investments.
High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
Be Aware
It's important to keep in mind that when tracking ROIIC, the metric is better suited to forecasting the trend of future returns rather than measuring current return on investment.
The Middleby 3-Year ROIIC % Related Terms
The Middleby 3-Year ROIIC % Historical Data
* Premium members only.
The historical data trend for The Middleby's 3-Year ROIIC % 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.
FRA:MBY vs NPO, GTES, JBTM: 3-Year ROIIC % Comparison
For the Specialty Industrial Machinery subindustry, The Middleby's 3-Year ROIIC %, along with its competitors' market caps and 3-Year ROIIC % 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 3-Year ROIIC % vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, The Middleby's 3-Year ROIIC % distribution charts can be found below:
* The bar in red indicates where The Middleby's 3-Year ROIIC % falls into.
The Middleby's 3-Year ROIIC % for the quarter that ended in Dec. 2025 is calculated as:
3-Year ROIIC %
=
3-Year Incremental Net Operating Profit After Taxes (NOPAT)**
/
3-Year Incremental Invested Capital**
=
( 382.8822 (Dec. 2025) - 474.123013 (Dec. 2022) )
/
( 4696.449 (Dec. 2025) - 5646.289 (Dec. 2022) )
=
-91.240813
/
-949.84
=
9.61%***
* 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.
** Annual data of NOPAT and Invested Capital was used to calculate 3-Year ROIIC %.
*** Please be aware that the ROIIC (Return on Invested Capital) calculations are based on company-level data using the primary share class. The calculated data provided is for demonstration purposes and may slightly differ from the results displayed in the title due to potential variations caused by currency exchange rate differences throughout the year.
The Middleby (FRA:MBY) has a 3-Year ROIIC % of 11.19 as of Dec. 2025. 3-Year ROIIC % measures the change in earnings as a percentage of change in investment over 3-year. View historical data on The Middleby and its competitors. This is 21% above median its historical median of 9.24. According to the industry distribution chart, The Middleby ranks #1057 out of 2937 companies in the Industrial Products industry, placing it in the top 36%.
Is The Middleby's 3-Year ROIIC % too high?
The Middleby's current 3-Year ROIIC % of 11.19 is 21% above median its 10-year median of 9.24. The Industrial Products industry median 3-Year ROIIC % is 3.36. The Middleby's value of 11.19 is 233% above this industry median. Based on the distribution chart, The Middleby ranks #1057 out of 2937 companies in the Industrial Products industry, which is above the industry midpoint. Overall, The Middleby has a GF Score™ of 73/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does The Middleby's 3-Year ROIIC % compare to NPO and GTES?
According to the Industrial Products industry distribution chart, The Middleby ranks #1057 out of 2937 companies for 3-Year ROIIC %. This puts The Middleby in the upper half of its industry. The industry median 3-Year ROIIC % is 3.36. The Middleby's value of 11.19 is 233% above this benchmark. While the company's 10-year median is 9.24 vs. the industry median of 3.36, The Middleby has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good 3-Year ROIIC % for an Industrial Products company?
The median 3-Year ROIIC % among Industrial Products companies is 3.36, based on 2,937 companies in the industry. Companies in the top quartile (top 25%) have a 3-Year ROIIC % significantly above this median, while those in the bottom quartile fall well below. However, 3-Year ROIIC % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. The Middleby's current 3-Year ROIIC % of 11.19 is 233% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high 3-Year ROIIC % mean?
A high 3-Year ROIIC % can signal that a stock is expensive relative to its fundamentals. 3-Year ROIIC % measures the change in earnings as a percentage of change in investment over 3-year. View historical data on The Middleby and its competitors. For the Industrial Products industry, the median 3-Year ROIIC % is 3.36 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. The Middleby's current 3-Year ROIIC % is 11.19, which is 21% above median its own 10-year median of 9.24. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is The Middleby stock overvalued right now?
Based on GuruFocus' analysis, The Middleby (FRA:MBY) is currently considered Modestly Overvalued. The stock's GF Value™ is €90.34, compared to a current price of €114.00 — trading 26.2% above its estimated fair value. The current 3-Year ROIIC % is 11.19, which is 21% above median its 10-year median of 9.24 and 233% above the Industrial Products industry median of 3.36. The Middleby's overall GF Score™ is 73/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is 3-Year ROIIC % calculated?
3-Year ROIIC % is calculated from a company's financial statements. For The Middleby (FRA:MBY), the current 3-Year ROIIC % is 11.19 as of Dec. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is The Middleby (FRA:MBY) Overvalued in 2026?
Based on GuruFocus' analysis, The Middleby stock appears to be overvalued.
The current stock price of €114.00 is trading 26.2% above its estimated GF Value™ of €90.34.
GuruFocus considers The Middleby to be Modestly Overvalued.
Key valuation signals for FRA:MBY:
3-Year ROIIC %: 11.19 (21% above median its 10-year median of 9.24)
GF Value™: €90.34 vs. price of €114.00 (26.2% above fair value)
Industry Position: 233% above the Industrial Products median (#1057 of 2937)
No single metric tells the full story. See the FRA:MBY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
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 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.
73GF Score
Get the complete analysis for FRA:MBY
3-Year ROIIC % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
FRA:MBY has been successfully added to your 
