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Middleby vs Tennant: MIDD and TNC compared
Middleby is the larger company: $876M of revenue in its latest quarter (Q2 2026) against $322M for Tennant (Q3 2026). Middleby is growing faster (+10% against +6% a year earlier). Middleby is more profitable, with an operating margin of 16.9% against 9.7%.
Where the money goes: MIDD and TNC
Middleby (MIDD) · Q2 2026
Middleby, Q2 2026: revenue $876M (+10% year over year), operating margin 16.9%, net earnings $54.8M, operating cash flow $97.7M. The chart follows the revenue to costs, profit and cash.
Tennant (TNC) · Q3 2026
Tennant, Q3 2026: revenue $322M (+6% year over year), operating margin 9.7%, net earnings $19.5M, operating cash flow $11.9M. The chart follows the revenue to costs, profit and cash.
| Middleby (MIDD) | Tennant (TNC) | |
|---|---|---|
| Latest quarter | Q2 2026 | Q3 2026 |
| Revenue | $876M | $322M |
| Revenue growth, Y/Y | +10% | +6% |
| Gross margin | 38.3% | 42.3% |
| Operating margin | 16.9% | 9.7% |
| Net earnings | $54.8M | $19.5M |
| Net margin | 6.3% | 6.1% |
| Operating cash flow | $97.7M | $11.9M |
| Free cash flow | $87.0M | $5.2M |
| Market value | $6.2B | $1.1B |
| P/E | 18.3× | 48.9× |
| Analysts’ mean target | $154.78 | $87.75 |
Where the revenue comes from
Middleby
- Commercial Foodservice Equipment Group: $631M (72%)
- Food Processing Group: $245M (28%)
Tennant
- Equipment: $193M (60%)
- Parts and consumables: $65.3M (20%)
- Service and other: $63.6M (20%)
Questions
Which is bigger, Middleby or Tennant?
Middleby is the larger company: $876M of revenue in its latest quarter (Q2 2026) against $322M for Tennant (Q3 2026).
Is Middleby or Tennant growing faster?
Middleby is growing faster (+10% against +6% a year earlier).
Which is more profitable, Middleby or Tennant?
Middleby is more profitable, with an operating margin of 16.9% against 9.7%.
More: Middleby earnings · how Middleby makes money · Tennant earnings · how Tennant makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Aug 13, 2026; 10-Q filed Nov 3, 2026). Fiscal quarters can end on different dates. Not investment advice.