Middleby (MIDD) risk factors

35 risks, 2 new, 5 dropped, 7 reworded since the prior year. The company reported $2.2 billion in borrowings and $4.5 million in letters of credit as of January 3, 2026. Goodwill and indefinite life intangibles represent 28% and 13% of total assets, respectively. The company completed the sale of a 51% stake in its Residential Kitchen business to 26North Partners LP on February 2, 2026.

38 risks. The risk section is dominated by financial leverage with $2.4 billion in borrowings, extensive international trade exposures, and execution risks surrounding the planned 2026 spin-off of the Food Processing business.