MIDD
The Middleby Corporation
Is MIDD Halal?
Commercial-foodservice and food-processing equipment — generally permissible activity, but the current debt/assets screen fails.
What You Should Know
Middleby's April 4, 2026 Form 10-Q reports assets of $5,421.987 million, debt of $1,874.020 million, cash of $177.065 million, receivables of $608.028 million and quarterly revenue of $839.908 million. Debt/assets is 34.56%, above the examined FTSE, MSCI and Malaysia asset-based limits; liquidity/assets is 3.27% and receivables plus cash/assets is 14.48%. Gross interest income is not separately disclosed and no universal prohibited-revenue numerator is available.
⚠️ Concerns
- •Debt/assets is 34.56%, above examined 33% limits
- •Serial acquisitions and credit-facility borrowings require continuing review
- •Restaurant, hospitality and food-processing customer mix remains qualitative
- •Discontinued residential-kitchen operations affect comparability
- •Gross interest income is unavailable and no universal prohibited-revenue numerator is disclosed
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-04-04; calculated 2026-07-15.
1,874.02 / 5,421.987
177.065 / 5,421.987
785.093 / 5,421.987
- Financial
- Fails
- Overall
- Fails
Debt/assets is 34.56%, above the examined 33.333% limit; liquidity/assets is 3.27% and receivables-plus-cash/assets is 14.48%, while gross interest income is unavailable.
- Financial
- Fails
- Overall
- Fails
Debt/assets is 34.56%, above the examined MSCI 33.33% total-assets limit; this is a calculation against the named method, not an index-membership claim.
- Financial
- Fails
- Overall
- Fails
Debt/assets is 34.56%, above the examined Malaysia 33% limit; this is not an official classification.
- Financial
- Not calculated
- Overall
- Fails
A licensed historical market-cap series is not stored; the debt failure is independently documented.
Business-activity disclosure
Middleby designs and manufactures commercial-foodservice, food-processing and residential-kitchen equipment. The core equipment activity is generally permissible, while customer menus, end uses and the filing's discontinued-operation presentation require qualitative review.
Limitation: No universal prohibited-activity revenue numerator or scholar-specific purification percentage is disclosed, and gross interest income is not separately isolated.
Purification
Gross interest income is not separately disclosed for continuing operations and no fixed scholar-approved purification percentage is asserted.
Inputs, assumptions and primary sources
- Amounts are USD millions from Middleby's April 4, 2026 Form 10-Q.
- Current long-term debt is $44.154 million and long-term debt is $1,829.866 million; operating leases are excluded.
- Cash and cash equivalents are $177.065 million; no separately identified interest-bearing securities balance is added; receivables, net are $608.028 million.
- First-quarter revenue is $839.908 million. The filing presents interest and debt expense but does not provide a separately usable gross interest-income numerator for continuing operations.
- Middleby's commercial-foodservice, food-processing and residential-kitchen equipment activity remains qualitative; no universal prohibited-revenue numerator is disclosed.
This is a reproducible financial screen, not a fatwa. A failed total-assets screen can coexist with a pass under a market-cap methodology. ZakatInvest keeps the qualitative assessment separate so numerical thresholds do not erase material context.
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