NYSE : MOD
Modine Manufacturing Company — Financial statements
Consumer Discretionary · Auto Parts · United States
Last price 131.98 USD (Nov 2, 2026, 10:48 AM EST) · Market cap 7.01B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Modine Manufacturing Company (MOD) reported revenue of 3.37B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year April - March; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Revenue | 3.37B | 3.18B | 2.58B | 2.41B | 2.30B | 2.05B |
| Cost of Revenue | 2.62B | 2.45B | 1.94B | 1.88B | 1.91B | 1.74B |
| Gross Profit | 749.00M | 732.40M | 643.80M | 525.60M | 389.40M | 309.30M |
| Selling, General & Admin | 351.40M | 334.30M | 301.80M | 235.20M | 192.00M | 166.00M |
| Research & Development | 29.30M | 29.30M | 34.90M | 42.00M | 44.00M | 50.30M |
| Operating Expenses | 380.70M | 363.60M | 336.70M | 277.20M | 236.00M | 216.30M |
| Operating Income | 368.30M | 368.80M | 307.10M | 248.40M | 153.40M | 93.00M |
| Interest Expense | -32.20M | -31.60M | -26.40M | -24.10M | -20.70M | -15.60M |
| Interest & Investment Income | 1.90M | 2.00M | 2.70M | 4.30M | 1.30M | 400.00K |
| Currency Exchange Gain (Loss) | -3.50M | -6.70M | -1.20M | -3.00M | -3.70M | -1.40M |
| EBT Excluding Unusual Items | 334.50M | 332.50M | 282.20M | 225.60M | 130.30M | 76.40M |
| Merger & Restructuring Charges | -21.00M | -21.90M | -28.20M | -15.00M | -5.00M | 31.60M |
| Gain (Loss) on Sale of Assets | -3.90M | -3.90M | 4.00M | -6.50M | ||
| Asset Writedown | -4.10M | -4.10M | ||||
| Other Unusual Items | -116.10M | -116.10M | ||||
| Pretax Income | 189.40M | 186.50M | 254.00M | 214.60M | 125.30M | 101.50M |
| Income Tax Expense | 43.50M | 63.20M | 68.50M | 51.20M | -28.30M | 15.20M |
| Earnings From Continuing Operations | 145.90M | 123.30M | 185.50M | 163.40M | 153.60M | 86.30M |
| Minority Interest in Earnings | -1.70M | -1.80M | -1.50M | -1.90M | -500.00K | -1.10M |
| Net Income | 144.20M | 121.50M | 184.00M | 161.50M | 153.10M | 85.20M |
| Net Income to Common | 144.20M | 121.50M | 184.00M | 161.50M | 153.10M | 85.20M |
| Shares Outstanding (Basic) | 52.98M | 52.80M | 52.60M | 52.40M | 52.30M | 52.00M |
| Shares Outstanding (Diluted) | 53.88M | 53.80M | 53.90M | 53.40M | 52.80M | 52.50M |
| EPS (Basic) | 2.72 | 2.30 | 3.50 | 3.08 | 2.93 | 1.64 |
| EPS (Diluted) | 2.68 | 2.26 | 3.42 | 3.03 | 2.90 | 1.62 |
| Free Cash Flow | 100.20M | 105.40M | 129.30M | 126.90M | 56.80M | -28.80M |
| Free Cash Flow Per Share | 1.86 | 1.96 | 2.40 | 2.38 | 1.08 | -0.55 |
| Gross Margin | 22.21% | 23.02% | 24.92% | 21.83% | 16.95% | 15.09% |
| Operating Margin | 10.92% | 11.59% | 11.89% | 10.32% | 6.68% | 4.54% |
| Profit Margin | 4.28% | 3.82% | 7.12% | 6.71% | 6.66% | 4.16% |
| Free Cash Flow Margin | 2.97% | 3.31% | 5.00% | 5.27% | 2.47% | -1.41% |
| EBITDA | 449.70M | 448.50M | 384.80M | 304.50M | 207.90M | 147.80M |
| EBITDA Margin | 13.33% | 14.10% | 14.89% | 12.65% | 9.05% | 7.21% |
| D&A For EBITDA | 81.40M | 79.70M | 77.70M | 56.10M | 54.50M | 54.80M |
| EBIT | 368.30M | 368.80M | 307.10M | 248.40M | 153.40M | 93.00M |
| EBIT Margin | 10.92% | 11.59% | 11.89% | 10.32% | 6.68% | 4.54% |
| Effective Tax Rate | 22.97% | 33.89% | 26.97% | 23.86% | 14.97% |
Balance sheet
Fiscal year April - March; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 95.30M | 73.50M | 71.60M | 60.10M | 67.10M | 45.20M |
| Short-Term Investments | 3.50M | 3.70M | ||||
| Cash & Short-Term Investments | 95.30M | 73.50M | 71.60M | 60.10M | 70.60M | 48.90M |
| Receivables | 738.20M | 777.20M | 499.10M | 443.40M | 428.20M | 406.60M |
| Inventory | 609.00M | 506.10M | 340.90M | 357.90M | 324.90M | 281.20M |
| Restricted Cash | 200.00K | 200.00K | 300.00K | |||
| Other Current Assets | 84.20M | 59.10M | 49.30M | 32.60M | 22.70M | 20.90M |
| Total Current Assets | 1.53B | 1.42B | 961.20M | 894.00M | 846.40M | 757.60M |
| Property, Plant & Equipment | 673.90M | 659.80M | 487.70M | 441.70M | 373.60M | 367.50M |
| Goodwill | 290.20M | 292.10M | 233.90M | 230.90M | 165.60M | 168.10M |
| Other Intangible Assets | 190.20M | 197.00M | 146.70M | 188.30M | 81.10M | 90.30M |
| Long-Term Deferred Tax Assets | 88.70M | 85.30M | 67.00M | 75.10M | 83.70M | 27.20M |
| Other Long-Term Assets | 25.50M | 24.30M | 21.10M | 21.50M | 15.50M | 16.30M |
| Total Assets | 2.80B | 2.67B | 1.92B | 1.85B | 1.57B | 1.43B |
| Accounts Payable | 508.90M | 464.80M | 290.80M | 283.40M | 332.80M | 325.80M |
| Accrued Expenses | 84.10M | 95.10M | 102.70M | 101.60M | 89.80M | 85.10M |
| Short-Term Debt | 8.10M | 7.50M | 9.30M | 12.00M | 3.70M | 7.70M |
| Current Portion of Long-Term Debt | 43.40M | 43.40M | 44.30M | 19.30M | 19.30M | 21.30M |
| Current Portion of Leases | 28.30M | 26.80M | 18.50M | 15.70M | 12.20M | 13.10M |
| Current Unearned Revenue | 25.70M | 23.90M | 33.20M | 79.40M | 21.50M | 11.80M |
| Other Current Liabilities | 31.30M | 67.40M | 42.20M | 34.40M | 27.80M | 29.70M |
| Total Current Liabilities | 749.80M | 728.90M | 541.00M | 545.80M | 507.10M | 494.50M |
| Long-Term Debt | 474.60M | 383.10M | 294.50M | 398.00M | 327.00M | 345.60M |
| Long-Term Leases | 117.00M | 119.30M | 82.80M | 64.00M | 51.20M | 44.00M |
| Long-Term Unearned Revenue | 173.50M | 170.60M | 1.90M | |||
| Pension & Post-Retirement Benefits | 11.40M | 29.40M | 27.70M | 40.20M | 47.20M | |
| Long-Term Deferred Tax Liabilities | 24.80M | 25.60M | 24.10M | 30.00M | 4.80M | 5.90M |
| Other Long-Term Liabilities | 45.90M | 32.90M | 25.70M | 30.50M | 36.00M | 31.70M |
| Total Liabilities | 1.59B | 1.47B | 999.40M | 1.10B | 966.30M | 968.90M |
| Common Stock | 35.90M | 35.60M | 35.30M | 35.00M | 34.60M | 34.20M |
| Additional Paid-In Capital | 343.80M | 336.10M | 310.80M | 283.70M | 270.80M | 261.60M |
| Retained Earnings | 1.04B | 964.50M | 843.00M | 659.00M | 497.50M | 344.40M |
| Treasury Stock | -169.20M | -104.60M | -97.60M | -66.70M | -49.00M | -40.00M |
| Comprehensive Income & Other | -47.40M | -37.10M | -181.30M | -163.40M | -161.10M | -149.50M |
| Total Common Equity | 1.20B | 1.19B | 910.20M | 747.60M | 592.80M | 450.70M |
| Minority Interest | 8.30M | 8.30M | 8.00M | 7.90M | 6.80M | 7.40M |
| Shareholders' Equity | 1.21B | 1.20B | 918.20M | 755.50M | 599.60M | 458.10M |
| Total Liabilities & Equity | 2.80B | 2.67B | 1.92B | 1.85B | 1.57B | 1.43B |
| Total Debt | 671.40M | 580.10M | 449.40M | 509.00M | 413.40M | 431.70M |
| Net Cash (Debt) | -576.10M | -506.60M | -377.80M | -448.90M | -342.80M | -382.80M |
| Net Cash Per Share | -10.69 | -9.42 | -7.01 | -8.41 | -6.49 | -7.29 |
| Filing Date Shares Outstanding | 53.11M | 52.82M | 52.39M | 52.32M | 52.07M | 51.97M |
| Total Common Shares Outstanding | 53.10M | 52.80M | 52.40M | 52.40M | 52.10M | 52.00M |
| Working Capital | 777.10M | 687.20M | 420.20M | 348.20M | 339.30M | 263.10M |
| Book Value Per Share | 22.63 | 22.62 | 17.37 | 14.27 | 11.38 | 8.67 |
| Tangible Book Value | 721.10M | 705.40M | 529.60M | 328.40M | 346.10M | 192.30M |
| Tangible Book Value Per Share | 13.58 | 13.36 | 10.11 | 6.27 | 6.64 | 3.70 |
| Land | 18.90M | 19.10M | 16.40M | 16.30M | 16.40M | 16.80M |
| Buildings | 298.80M | 291.10M | 257.70M | 280.70M | 264.00M | 264.60M |
| Machinery | 1.01B | 996.30M | 936.30M | 921.40M | 946.90M | 965.60M |
| Construction In Progress | 119.50M | 116.10M | 69.50M | 67.60M | 47.50M | 31.20M |
Cash flow statement
Fiscal year April - March; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Net Income | 144.20M | 121.50M | 184.00M | 161.50M | 153.10M | 85.20M |
| Depreciation & Amortization | 81.40M | 79.70M | 77.70M | 56.10M | 54.50M | 54.80M |
| Loss (Gain) From Sale of Assets | 3.90M | 3.90M | -4.00M | 6.60M | ||
| Asset Writedown & Restructuring Costs | 4.10M | 4.10M | -55.70M | |||
| Stock-Based Compensation | 24.80M | 22.10M | 26.40M | 10.80M | 6.60M | 5.70M |
| Other Operating Activities | 79.70M | 85.80M | 14.90M | 14.20M | -54.30M | 400.00K |
| Change in Accounts Receivable | -143.70M | -222.60M | -61.20M | -8.30M | -40.70M | -55.60M |
| Change in Inventory | -168.90M | -125.10M | 13.60M | -17.30M | -49.40M | -70.70M |
| Change in Accounts Payable | 162.40M | 151.10M | 10.50M | -59.10M | 10.20M | 55.10M |
| Change in Unearned Revenue | 159.00M | 159.00M | -44.50M | 58.30M | 10.30M | |
| Change in Other Net Operating Assets | -84.50M | -30.80M | -8.10M | 2.40M | 17.20M | -14.30M |
| Operating Cash Flow | 262.40M | 248.70M | 213.30M | 214.60M | 107.50M | 11.50M |
| Capital Expenditures | -162.20M | -143.30M | -84.00M | -87.70M | -50.70M | -40.30M |
| Sale of Property, Plant & Equipment | 800.00K | 800.00K | 800.00K | 300.00K | ||
| Cash Acquisitions | -63.40M | -182.40M | -3.40M | -198.20M | ||
| Investment in Securities | -300.00K | |||||
| Other Investing Activities | 1.10M | 3.60M | 2.50M | -5.70M | ||
| Investing Cash Flow | -223.70M | -321.30M | -86.60M | -283.40M | -50.40M | -51.00M |
| Short-Term Debt Issued | 6.30M | 3.00M | ||||
| Long-Term Debt Issued | 829.60M | 414.50M | 332.50M | 374.30M | 351.80M | |
| Total Debt Issued | 939.90M | 829.60M | 414.50M | 338.80M | 377.30M | 351.80M |
| Short-Term Debt Repaid | -5.00M | -700.00K | -4.30M | |||
| Long-Term Debt Repaid | -745.90M | -496.30M | -260.40M | -403.40M | -306.70M | |
| Total Debt Repaid | -941.30M | -750.90M | -497.00M | -260.40M | -403.40M | -311.00M |
| Net Debt Issued (Repaid) | -1.40M | 78.70M | -82.50M | 78.40M | -26.10M | 40.80M |
| Repurchase of Common Stock | -66.50M | -7.00M | -30.90M | -17.70M | -9.00M | |
| Other Financing Activities | 1.20M | 1.40M | -200.00K | 2.00M | 1.80M | -1.60M |
| Financing Cash Flow | -66.70M | 73.10M | -113.60M | 62.70M | -33.30M | 39.20M |
| Foreign Exchange Rate Adjustments | -1.20M | 1.30M | -1.50M | -800.00K | -2.00M | -400.00K |
| Net Cash Flow | -29.20M | 1.80M | 11.60M | -6.90M | 21.80M | -700.00K |
| Free Cash Flow | 100.20M | 105.40M | 129.30M | 126.90M | 56.80M | -28.80M |
| Free Cash Flow Margin | 2.97% | 3.31% | 5.00% | 5.27% | 2.47% | -1.41% |
| Free Cash Flow Per Share | 1.86 | 1.96 | 2.40 | 2.38 | 1.08 | -0.55 |
| Levered Free Cash Flow | -73.74M | -101.45M | 109.94M | 88.19M | 45.74M | -15.43M |
| Unlevered Free Cash Flow | -53.61M | -81.70M | 126.44M | 103.25M | 58.67M | -5.67M |
| Cash Interest Paid | 30.20M | 30.20M | 26.00M | 23.30M | 18.40M | 14.10M |
| Cash Income Tax Paid | 75.80M | 75.80M | 53.90M | 45.10M | 31.90M | 21.80M |
| Change in Working Capital | -75.70M | -68.40M | -89.70M | -24.00M | -52.40M | -85.50M |
Ratios
Fiscal year April - March; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 6.55B | 11.43B | 4.04B | 4.97B | 1.20B | 467.74M |
| Enterprise Value | 7.13B | 12.09B | 4.43B | 5.23B | 1.57B | 859.14M |
| Last Close Price | 129.76 | 199.52 | 70.66 | 87.64 | 21.22 | 8.30 |
| PE Ratio | 45.97 | 94.05 | 21.93 | 30.77 | 7.85 | 5.49 |
| Forward PE | 17.57 | 31.20 | 17.23 | 27.06 | 10.57 | 5.70 |
| PS Ratio | 1.97 | 3.59 | 1.56 | 2.06 | 0.52 | 0.23 |
| PB Ratio | 5.73 | 9.50 | 4.39 | 6.58 | 2.00 | 1.02 |
| P/TBV Ratio | 9.19 | 16.20 | 7.62 | 15.13 | 3.47 | 2.43 |
| P/FCF Ratio | 66.14 | 108.42 | 31.21 | 39.16 | 21.15 | |
| P/OCF Ratio | 25.25 | 45.95 | 18.92 | 23.16 | 11.18 | 40.67 |
| PEG Ratio | 0.74 | 1.42 | 0.78 | 1.23 | 0.42 | 0.23 |
| EV/Sales Ratio | 2.14 | 3.80 | 1.71 | 2.17 | 0.68 | 0.42 |
| EV/EBITDA Ratio | 16.02 | 26.96 | 11.51 | 17.19 | 7.53 | 5.81 |
| EV/EBIT Ratio | 19.56 | 32.78 | 14.42 | 21.07 | 10.21 | 9.24 |
| EV/FCF Ratio | 71.89 | 114.70 | 34.25 | 41.24 | 27.57 | |
| Debt / Equity Ratio | 0.56 | 0.48 | 0.49 | 0.67 | 0.69 | 0.94 |
| Debt / EBITDA Ratio | 1.34 | 1.17 | 1.08 | 1.55 | 1.80 | 2.57 |
| Debt / FCF Ratio | 6.70 | 5.50 | 3.48 | 4.01 | 7.28 | |
| Net Debt / Equity Ratio | 0.48 | 0.42 | 0.41 | 0.59 | 0.57 | 0.84 |
| Net Debt / EBITDA Ratio | 1.28 | 1.13 | 0.98 | 1.47 | 1.65 | 2.59 |
| Net Debt / FCF Ratio | 5.75 | 4.81 | 2.92 | 3.54 | 6.04 | -13.29 |
| Asset Turnover | 1.34 | 1.39 | 1.37 | 1.41 | 1.54 | 1.52 |
| Inventory Turnover | 5.03 | 5.78 | 5.55 | 5.51 | 6.30 | 7.30 |
| Quick Ratio | 1.11 | 1.17 | 1.05 | 0.92 | 0.98 | 0.92 |
| Current Ratio | 2.04 | 1.94 | 1.78 | 1.64 | 1.67 | 1.53 |
| Return on Equity (ROE) | 13.09% | 11.63% | 22.17% | 24.12% | 29.04% | 21.20% |
| Return on Assets (ROA) | 9.16% | 10.04% | 10.18% | 9.09% | 6.41% | 4.30% |
| Return on Invested Capital (ROIC) | 16.23% | 16.23% | 17.94% | 17.62% | 17.20% | 10.21% |
| Return on Capital Employed (ROCE) | 18.00% | 19.00% | 22.30% | 19.00% | 14.50% | 10.00% |
| Earnings Yield | 2.18% | 1.06% | 4.56% | 3.25% | 12.74% | 18.21% |
| FCF Yield | 1.51% | 0.92% | 3.20% | 2.55% | 4.73% | -6.16% |
| Buyback Yield / Dilution | -0.05% | 0.19% | -0.94% | -1.14% | -0.57% | -2.34% |