Modine Manf Financials
This page shows Modine Manf (MOD) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Margin expansion and balance-sheet repair are doing more of the work here than simple top-line growth.
From FY2023 to FY2025, revenue rose only12.4% , but gross profit climbed65.3% and debt-to-equity fell from 0.6x to 0.3x. That combination points to a business with a materially better profit capture on each sale, using that stronger cash economics to de-lever rather than simply pile up cash.
In FY2025, operating cash flow of
The balance sheet improved even though cash only reached
Financial Health Signals
Based on FY2026 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Modine Manf's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Modine Manf has an operating margin of 10.8%, meaning the company retains $11 of operating profit per $100 of revenue. This results in a moderate score of 46/100, indicating healthy but not exceptional operating efficiency. This is down from 11.0% the prior year.
Modine Manf's revenue surged 23.1% year-over-year to $3.2B, reflecting rapid business expansion. This strong growth earns a score of 58/100.
Modine Manf carries a low D/E ratio of 0.32, meaning only $0.32 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 95/100, indicating a strong balance sheet with room for future borrowing.
Modine Manf's current ratio of 1.94 indicates adequate short-term liquidity, earning a score of 35/100. The company can meet its near-term obligations, though with limited headroom.
Modine Manf has a free cash flow margin of 3.3%, earning a moderate score of 36/100. The company generates positive cash flow after capital investments, but with room for improvement.
Modine Manf's ROE of 10.2% shows moderate profitability relative to equity, earning a score of 45/100. This is down from 20.2% the prior year.
Modine Manf scores 8.44, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($14.8B) relative to total liabilities ($1.5B). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Modine Manf passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, all 2 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Modine Manf generates $2.05 in operating cash flow ($248.7M OCF vs $121.5M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Modine Manf earns $10.8 in operating income for every $1 of interest expense ($342.4M vs $31.6M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Earnings & Revenue
Modine Manf generated $3.2B in revenue in fiscal year 2026. This represents an increase of 23.1% from the prior year.
Modine Manf's EBITDA was $422.1M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 16.9% from the prior year.
Modine Manf reported $121.5M in net income in fiscal year 2026. This represents a decrease of 34.0% from the prior year.
Modine Manf earned $2.26 per diluted share (EPS) in fiscal year 2026. This represents a decrease of 33.9% from the prior year.
Cash & Balance Sheet
Modine Manf generated $105.4M in free cash flow in fiscal year 2026, representing cash available after capex. This represents a decrease of 18.5% from the prior year.
Modine Manf held $73.5M in cash against $384.9M in long-term debt as of fiscal year 2026.
Modine Manf had 53M shares outstanding in fiscal year 2026.
Margins & Returns
Modine Manf's gross margin was 23.0% in fiscal year 2026, indicating the percentage of revenue retained after direct costs. This is down 1.9 percentage points from the prior year.
Modine Manf's operating margin was 10.8% in fiscal year 2026, reflecting core business profitability. This is down 0.2 percentage points from the prior year.
Modine Manf's net profit margin was 3.8% in fiscal year 2026, showing the share of revenue converted to profit. This is down 3.3 percentage points from the prior year.
Modine Manf's ROE was 10.2% in fiscal year 2026, measuring profit generated per dollar of shareholder equity. This is down 10.0 percentage points from the prior year.
Capital Allocation
Modine Manf invested $29.3M in research and development in fiscal year 2026. This represents a decrease of 16.0% from the prior year.
Modine Manf spent $7.0M on share buybacks in fiscal year 2026, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 77.3% from the prior year.
Modine Manf invested $143.3M in capex in fiscal year 2026, funding long-term assets and infrastructure. This represents an increase of 70.6% from the prior year.
MOD Income Statement
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $805.0M+8.9% | $738.9M+8.2% | $682.8M+5.5% | $647.2M+4.9% | $616.8M-6.3% | $658.0M-0.5% | $661.5M+9.6% | $603.5M |
| Cost of Revenue | $618.9M+7.8% | $574.0M+10.9% | $517.4M+7.5% | $481.2M+3.0% | $467.2M-5.1% | $492.4M-1.3% | $498.9M+6.6% | $468.2M |
| Gross Profit | $186.1M+12.9% | $164.9M-0.3% | $165.4M-0.4% | $166.0M+11.0% | $149.6M-9.7% | $165.6M+1.8% | $162.6M+20.2% | $135.3M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $89.3M+6.1% | $84.2M-0.8% | $84.9M+4.2% | $81.5M-0.6% | $82.0M-4.4% | $85.8M+3.6% | $82.8M+9.5% | $75.6M |
| Operating Income | $89.3M+21.5% | $73.5M-2.9% | $75.7M+1.6% | $74.5M+25.6% | $59.3M-21.2% | $75.3M+1.2% | $74.4M+59.0% | $46.8M |
| Interest Expense | $8.9M+7.2% | $8.3M+43.1% | $5.8M+9.4% | $5.3M-14.5% | $6.2M-16.2% | $7.4M-1.3% | $7.5M+19.0% | $6.3M |
| Income Tax | $8.3M-56.1% | $18.9M+35.0% | $14.0M-16.2% | $16.7M+28.5% | $13.0M-35.0% | $20.0M+6.4% | $18.8M+40.3% | $13.4M |
| Net Income | -$47.4M-206.8% | $44.4M-13.3% | $51.2M+3.2% | $49.6M+21.0% | $41.0M-11.1% | $46.1M-2.5% | $47.3M+83.3% | $25.8M |
| EPS (Diluted) | $-0.90-208.4% | $0.83-12.6% | $0.95 | N/A | $0.76-11.6% | $0.86-2.3% | $0.88 | N/A |
MOD Balance Sheet
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $2.5B+4.1% | $2.4B+7.1% | $2.2B+16.2% | $1.9B+4.8% | $1.8B-4.5% | $1.9B+2.6% | $1.9B+0.8% | $1.9B |
| Current Assets | $1.3B+4.1% | $1.3B+8.4% | $1.2B+20.2% | $961.2M+6.1% | $905.6M-4.9% | $952.6M+4.2% | $913.8M+2.2% | $894.0M |
| Cash & Equivalents | $98.7M+17.8% | $83.8M-32.7% | $124.5M+73.9% | $71.6M-14.6% | $83.8M+6.6% | $78.6M+7.8% | $72.9M+21.3% | $60.1M |
| Inventory | $542.9M+2.7% | $528.8M+21.6% | $434.8M+27.5% | $340.9M+1.2% | $336.7M-8.1% | $366.5M+4.7% | $350.0M-2.2% | $357.9M |
| Accounts Receivable | $569.1M+1.8% | $559.0M+8.2% | $516.6M+7.9% | $478.9M+13.2% | $423.0M-6.6% | $452.9M+3.4% | $438.1M+3.6% | $422.9M |
| Goodwill | $293.4M+0.9% | $290.7M+8.4% | $268.2M+14.7% | $233.9M+0.6% | $232.6M-3.4% | $240.7M+1.4% | $237.4M+2.8% | $230.9M |
| Total Liabilities | $1.4B+2.1% | $1.3B+9.5% | $1.2B+21.1% | $999.4M+3.4% | $966.6M-7.8% | $1.0B-2.0% | $1.1B-2.4% | $1.1B |
| Current Liabilities | $596.2M-4.7% | $625.9M+11.4% | $561.9M+3.9% | $541.0M+11.9% | $483.5M-9.9% | $536.9M+5.6% | $508.3M-6.9% | $545.8M |
| Long-Term Debt | $570.7M+8.5% | $525.8M+9.1% | $482.1M+62.5% | $296.7M-10.1% | $330.0M-8.1% | $359.1M-11.5% | $405.7M+1.5% | $399.9M |
| Total Equity | $1.1B+6.5% | $1.1B+4.2% | $1.0B+11.1% | $910.2M+6.4% | $855.1M-0.4% | $858.8M+8.9% | $788.4M+5.5% | $747.6M |
| Retained Earnings | $891.2M-5.1% | $938.6M+5.0% | $894.2M+6.1% | $843.0M+6.3% | $793.4M+5.4% | $752.4M+6.5% | $706.3M+7.2% | $659.0M |
MOD Cash Flow Statement
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $24.7M+1664.3% | $1.4M-94.9% | $27.7M-49.5% | $54.8M-9.7% | $60.7M+5.9% | $57.3M+41.5% | $40.5M+2.3% | $39.6M |
| Capital Expenditures | $41.8M+31.0% | $31.9M+16.0% | $27.5M-0.7% | $27.7M+73.1% | $16.0M+18.5% | $13.5M-49.6% | $26.8M-39.0% | $43.9M |
| Free Cash Flow | -$17.1M+43.9% | -$30.5M-15350.0% | $200K-99.3% | $27.1M-39.4% | $44.7M+2.1% | $43.8M+219.7% | $13.7M+418.6% | -$4.3M |
| Investing Cash Flow | -$41.8M+55.7% | -$94.3M+34.5% | -$144.0M-423.6% | -$27.5M-73.0% | -$15.9M+4.8% | -$16.7M+37.0% | -$26.5M+88.4% | -$228.9M |
| Financing Cash Flow | $32.1M-39.0% | $52.6M-68.5% | $166.9M+505.1% | -$41.2M-15.4% | -$35.7M+2.7% | -$36.7M | $0-100.0% | $100.1M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $1.1M+83.3% | $600K-88.2% | $5.1M-72.6% | $18.6M+313.3% | $4.5M+45.2% | $3.1M-34.0% | $4.7M+4600.0% | $100K |
MOD Financial Ratios
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 23.1%+0.8pp | 22.3%-1.9pp | 24.2%-1.4pp | 25.7%+1.4pp | 24.3%-0.9pp | 25.2%+0.6pp | 24.6%+2.2pp | 22.4% |
| Operating Margin | 11.1%+1.1pp | 10.0%-1.1pp | 11.1%-0.4pp | 11.5%+1.9pp | 9.6%-1.8pp | 11.4%+0.2pp | 11.3%+3.5pp | 7.8% |
| Net Margin | -5.9%-11.9pp | 6.0%-1.5pp | 7.5%-0.2pp | 7.7%+1.0pp | 6.7%-0.4pp | 7.0%-0.1pp | 7.1%+2.9pp | 4.3% |
| Return on Equity | -4.2%-8.4pp | 4.2%-0.9pp | 5.1%-0.4pp | 5.5%+0.7pp | 4.8%-0.6pp | 5.4%-0.6pp | 6.0%+2.5pp | 3.5% |
| Return on Assets | -1.9%-3.8pp | 1.9%-0.4pp | 2.3%-0.3pp | 2.6%+0.3pp | 2.2%-0.2pp | 2.4%-0.1pp | 2.5%+1.1pp | 1.4% |
| Current Ratio | 2.19+0.2 | 2.00-0.1 | 2.06+0.3 | 1.78-0.1 | 1.87+0.1 | 1.77-0.0 | 1.80+0.2 | 1.64 |
| Debt-to-Equity | 0.510.0 | 0.50+0.0 | 0.48+0.2 | 0.33-0.1 | 0.39-0.0 | 0.42-0.1 | 0.51-0.0 | 0.53 |
| FCF Margin | -2.1%+2.0pp | -4.1%-4.2pp | 0.0%-4.2pp | 4.2%-3.1pp | 7.2%+0.6pp | 6.7%+4.6pp | 2.1%+2.8pp | -0.7% |
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Frequently Asked Questions
What is Modine Manf's annual revenue?
Modine Manf (MOD) reported $3.2B in total revenue for fiscal year 2026. This represents a 23.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Modine Manf's revenue growing?
Modine Manf (MOD) revenue grew by 23.1% year-over-year, from $2.6B to $3.2B in fiscal year 2026.
Is Modine Manf profitable?
Yes, Modine Manf (MOD) reported a net income of $121.5M in fiscal year 2026, with a net profit margin of 3.8%.
What is Modine Manf's EBITDA?
Modine Manf (MOD) had EBITDA of $422.1M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Modine Manf have?
As of fiscal year 2026, Modine Manf (MOD) had $73.5M in cash and equivalents against $384.9M in long-term debt.
What is Modine Manf's gross margin?
Modine Manf (MOD) had a gross margin of 23.0% in fiscal year 2026, indicating the percentage of revenue retained after direct costs of goods sold.
What is Modine Manf's operating margin?
Modine Manf (MOD) had an operating margin of 10.8% in fiscal year 2026, reflecting the profitability of core business operations before interest and taxes.
What is Modine Manf's net profit margin?
Modine Manf (MOD) had a net profit margin of 3.8% in fiscal year 2026, representing the share of revenue converted into profit after all expenses.
What is Modine Manf's return on equity (ROE)?
Modine Manf (MOD) has a return on equity of 10.2% for fiscal year 2026, measuring how efficiently the company generates profit from shareholder equity.
What is Modine Manf's free cash flow?
Modine Manf (MOD) generated $105.4M in free cash flow during fiscal year 2026. This represents a -18.5% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Modine Manf's operating cash flow?
Modine Manf (MOD) generated $248.7M in operating cash flow during fiscal year 2026, representing cash generated from core business activities.
What are Modine Manf's total assets?
Modine Manf (MOD) had $2.7B in total assets as of fiscal year 2026, including both current and long-term assets.
What are Modine Manf's capital expenditures?
Modine Manf (MOD) invested $143.3M in capital expenditures during fiscal year 2026, funding long-term assets and infrastructure.
How much does Modine Manf spend on research and development?
Modine Manf (MOD) invested $29.3M in research and development during fiscal year 2026.
What is Modine Manf's current ratio?
Modine Manf (MOD) had a current ratio of 1.94 as of fiscal year 2026, which is generally considered healthy.
What is Modine Manf's debt-to-equity ratio?
Modine Manf (MOD) had a debt-to-equity ratio of 0.32 as of fiscal year 2026, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Modine Manf's return on assets (ROA)?
Modine Manf (MOD) had a return on assets of 4.5% for fiscal year 2026, measuring how efficiently the company uses its assets to generate profit.
What is Modine Manf's Altman Z-Score?
Modine Manf (MOD) has an Altman Z-Score of 8.44, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Modine Manf's Piotroski F-Score?
Modine Manf (MOD) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Modine Manf's earnings high quality?
Modine Manf (MOD) has an earnings quality ratio of 2.05x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Modine Manf cover its interest payments?
Modine Manf (MOD) has an interest coverage ratio of 10.8x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Modine Manf?
Modine Manf (MOD) scores 53 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.