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Modine Manufacturing Co (MOD) stock

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NYSE: MOD NYSE Building Products Next results ~November 3, 2026

C+ Fundamentals grade

Modine Manufacturing Co is a US-listed company in the building products industry. Its financial year ends in March.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$70

Cash-flow model

Base case. Range ~$51–$94 across our lower- and higher-growth cases (8%–18% a year).

Price vs value

Overvalued

The price is above our entire value range; our base value is 43% below it.

Price used: $123.34, November 2, 2026

Modine Manufacturing Co valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 8 selling0 purchases and 40 sales by directors and officers, last 12 monthsInsider trades
  • Funds339 adding, 279 cuttingOf 77 active managers that changed their stake, 41 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Modine Manufacturing files

Where Modine Manufacturing Co stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $3.37bn, up 29.5% on a year earlier, faster than 23.1% a quarter earlier. Free-cash-flow margin fell to 3.0% from 4.4% a year earlier. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 3 of our 3 financial-health checks. Our cash-flow model value is $60.03 a share, against a share price of $149. At that price, our model says the market is pricing in about 29.6% a year of cash-flow growth for five years, faster than the 10.5% a year revenue growth it has delivered.

Source: 10-Q filed July 30, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 3, 2026 (estimated)

Modine Manufacturing Co's trailing-twelve-month revenue grew 29.5% year on year, with a free-cash-flow margin of 3.0%. Where it stands out: change in growth rate of +6.3pp ranks 3 of 46 building products companies we cover. Where it lags: days sales outstanding of 71 days ranks 29 of 34 building products companies we cover.

Our discounted-cash-flow model values the business at ~$70 per share in the base case (~$51–$94 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Revenue growth accelerating: TTM revenue growth rose to 29.5% (+6.3pp vs the prior quarter).

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 29.5% over the last 12 months, against a median of 4.0% for building products companies we cover.
  • Growth speeding up. The growth rate is 6.3 points higher than a quarter earlier.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.

Things to watch

  • Priced above our value. The share price of $123.34 is 43% above our value per share of $70.
  • High earnings multiple. The shares trade at 46 times the last 12 months' earnings, so expectations are demanding.
  • Volatile shares. Over the past year the shares showed annualised volatility of 72% and a beta of 3.1 against the S&P 500.
  • Insiders selling. 8 insiders sold $40M of stock over the past 365 days and none bought (42% under pre-set trading plans).
  • Gross margin slipping. Gross margin is down 2.7 points on a year ago.
  • Weak cash conversion. Free cash flow was 69% of net income over the last 12 months.

Latest results: FY2027 Q1

Filed July 30, 2026
Earnings per share
$1.53 against an average estimate of $1.27: beat by 20.0%
Revenue
$874m, up 28.0% on a year earlier
Share reaction
-6.8% in the first session after the results on July 29, 2026, against +0.1% for the S&P 500
Guidance given
net Sales growth 20% to 35% (Fiscal 2027); adjusted EBITDA $650m to $680m (Fiscal 2027)
Next report
November 3, 2026; average EPS estimate $1.45

Modine Manufacturing's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-4.9%
  • 1 week-5.3%
  • 1 month-30.8%
  • This year-7.6%
  • 1 year-19.5%
  • 5 years+1004.2%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$3.4B
Operating margin
10.1%
Net margin
4.3%
EPS (TTM, diluted)
$2.68

Growth

Revenue growth
+29.5%
Change in growth rate
+6.3 pts
Share count change
+0.0%

Cash

Free cash flow (TTM)
$100M
FCF margin
3.0%
Stock pay % of revenue
0.7%

Earnings

Last results
July 29, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Leadership
  2. Announcement
  3. Leadership
  4. Announcement
  5. Announcement
  6. Announcement
  7. Announcement
  8. Shareholder vote
  9. Results
  10. Guidance
  11. Announcement
  12. Announcement
  13. Announcement

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Modine Manufacturing Co valuation models and calculator

What the price is pricing in

The share price implies about 23.9% a year of cash-flow growth for five years.That is faster than the 10.5% a year revenue growth Modine Manufacturing has delivered.

  • Priced in23.9%
  • Last 12 months29.5%
  • 3 years a year12.3%
  • 5 years a year10.5%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($127.61, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Sell12-month view
12-month price target
~$70
Price used
$127.61close November 3, 2026
Implied change
▼ 45%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Modine Manufacturing Co's free cash flow after stock-based pay with after-tax interest added back ($132M, FY2027 Q1 TTM), growing 13.4% and 14.8% in the next two years (forecasts, guidance and its record), then back to 13% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$51–~$94 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Modine Manufacturing Co's free cash flow after stock-based pay ( $132M, FY2027 Q1 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Modine Manufacturing Co as an operating company, with every model that fits that kind of business. Cost of equity 11.4%: the 10-year Treasury yield (4.9%) plus a beta of 1.44 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$70 ~$51–$94 Primary model, counts double
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$75 ~$49–$95 Included
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$160 ~$150–$210 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$76 ~$55–$110 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$53 ~$47–$60 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$84 ~$53–$160 5 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Modine Manufacturing Co with Building Products in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −26%
  • Revenue growth 5 points higher ▲ +33%
  • Free-cash-flow margin 1 point lower ▼ −29%
  • Last year's free-cash-flow margin change, if it persists ▼ −30%
  • Discount rate 1 point higher ▼ −17%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $27$39$56$78$107$144
8.5% $19$28$40$56$76$102
10% $14$21$30$42$58$78

Valuation multiples over time Market data may be delayed

At fiscal year end 20162017201820192020202120222023202420252026Now
Share price$11.01$12.20$21.15$13.87$3.25$14.77$9.01$23.05$95.19$76.75$216.71$123.34
Market value$521m$589m$1.1bn$712m$165m$758m$473m$1.2bn$5.1bn$4.1bn$11.7bn$6.6bn
+ Net debt (− = net cash)$94m$483m$446m$412m$417m$301m$336m$288m$374m$281m$365m$435m
Enterprise value$614m$1.1bn$1.5bn$1.1bn$582m$1.1bn$809m$1.5bn$5.5bn$4.4bn$12.0bn$7.1bn
Multiples
Price / sales 0.4x0.4x0.5x0.3x0.1x0.4x0.2x0.5x2.1x1.6x3.7x2.0x
Price / earnings —41.5x48.5x8.4x——5.6x7.9x31.5x22.5x96.0x46.1x
Price / free cash flow 54.2x—20.2x24.2x—6.5x—21.4x40.1x32.0x110.6x66.3x
EV / EBITDA 7.0x10.7x9.0x6.0x5.1x—4.6x7.3x18.4x12.2x28.5x16.7x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

34 /100

Weak moat

How hard Modine Manufacturing's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 8 / 20

    Cash operating profit has been a median 7.0% of total assets over 10 years.

  • Pricing power 7 / 20

    Gross margin has been a median 16.8%, moving by 3.3 percentage points (standard deviation) across 10 years.

  • Durability 0 / 20

    Operating margin has been a median 5.6%; its worst year was -4.4%.

  • Cash conversion 9 / 20

    Free cash flow was positive in 8 of 10 years, at a median 2.3% of revenue.

  • Discipline 15 / 20

    The diluted share count rose 4.2% over five years; stock-based pay has been a median 0.4% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (39 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 3, 2026, after the close. Analysts expect revenue of $940m and EPS of $1.45 (range $1.17 to $1.75) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $6.55 +31% $3.5bn +9%
Next $10.24 +56% $4.1bn +19%

Next year's EPS estimate has moved −9.6% in 90 days, across 6 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −16.0% on 90 days ago. In the last 30 days, 1 analyst raised Modine Manufacturing Co's forecast and 1 cut it.

Consensus EPS forecast Modine Manufacturing Co, last 90 days
$6.00 $8.00 $10.00 $12.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $7.80 Current fiscal year, 60 days ago: $7.64 Current fiscal year, 30 days ago: $7.62 Current fiscal year, 7 days ago: $6.51 Current fiscal year, Now: $6.55 $6.55 Next fiscal year, 90 days ago: $11.33 Next fiscal year, 60 days ago: $11.18 Next fiscal year, 30 days ago: $11.01 Next fiscal year, 7 days ago: $10.17 Next fiscal year, Now: $10.24 $10.24

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $7.80$11.33
60 days ago $7.64$11.18
30 days ago $7.62$11.01
7 days ago $6.51$10.17
Now $6.55$10.24

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $1.27 $1.53 +20.0%
Mar 2026 $1.55 $1.71 +10.0%
Dec 2025 $0.99 $1.19 +19.7%
Sept 2025 $1.01 $1.06 +5.0%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, July 29, 2026
  • Net Sales Fiscal 2027 20% growth to 35% growth Maintained
    “Net Sales +20% to 35%” source
  • Adjusted EBITDA Fiscal 2027 $650m to $680m Non-GAAP Maintained
    “Adjusted EBITDA $650 to $680 million” source
  • interest expense fiscal 2027 $24m to $27m
    “The fiscal 2027 guidance includes the Company's estimates for interest expense of approximately $24 to $27 million, a provision for income taxes of approximately $130 to $140 million, and depreciation and amortization expense of approximately $87 to $92 million.” source
  • provision for income taxes fiscal 2027 $130m to $140m
    “The fiscal 2027 guidance includes the Company's estimates for interest expense of approximately $24 to $27 million, a provision for income taxes of approximately $130 to $140 million, and depreciation and amortization expense of approximately $87 to $92 million.” source
  • depreciation and amortization expense fiscal 2027 $87m to $92m
    “The fiscal 2027 guidance includes the Company's estimates for interest expense of approximately $24 to $27 million, a provision for income taxes of approximately $130 to $140 million, and depreciation and amortization expense of approximately $87 to $92 million.” source
  • additional costs related to the Reverse Morris Trust transaction with Gentherm the remainder of fiscal 2027 $25m to $35m
    “In connection with the pending Reverse Morris Trust transaction with Gentherm, the Company expects to incur approximately $25 to $35 million of additional costs during the remainder of fiscal 2027, primarily for transaction advisory, legal, accounting, tax and other professional services.” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows Modine Manufacturing Co's revenue by +13.4% next year and +14.8% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+7.9%, weight 49%) , management guidance (+26.2%, weight 22%) and the company's own record (+13.0%, weight 29%) . How the weights are set.

Analyst recommendations

10 analysts, Oct 2026
Buy10100%
Hold00%
Sell00%

Monthly trend

  1. Oct 20261910
  2. Sep 2026178
  3. Aug 2026178
  4. Jul 2026178

Counts of recommendations published by analysts covering Modine Manufacturing Co, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
4.8%
of tradable shares
Days to cover
1.77
at average volume
Short interest, 1 month
−26%
to October 15, 2026
Held by institutions
—
of shares
Held by insiders
1.9%
of shares
Employees
13,000
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months −19.5%

$153.21 on October 31, 2025 to $123.34

ThenNowEffect
Revenue (last 12 months) $2.6bn $3.4bn +29.5%
Net margin 7.2% 4.3% −40.7%
P/E multiple 43.9x 46.1x +4.9%
Share count 54m 54m 0.0%

Biggest factor: net margin.

Last 3 years +192.6%

$42.15 on November 3, 2023 to $123.34

ThenNowEffect
Revenue (last 12 months) $2.4bn $3.4bn +41.7%
Net margin 7.7% 4.3% −44.6%
P/E multiple 12.2x 46.1x +279.1%
Share count 53m 54m −1.7%

Biggest factor: p/e multiple.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
MOD−20%+97%+201%+94%+15%−8%
Industry peers (median)+24%−24%+44%+10%−12%+5%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
MOD42%50%67%67%67%46%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
MOD−48%−31%−27%−22%−51%−60%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 88% from February 26, 2018 to April 3, 2020. Getting back needed a 742% gain, reached on March 1, 2023, 1062 days after the low.

Price behaviour

52-week range
$119.68 – $306.89
From 52-week high
−59.8%
vs 50-day average
−28.7%
vs 200-day average
−42.9%
Volatility (1 year)
72%
Beta vs S&P 500
3.12

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
7 up, 5 down
typical move ±8.1%
After a week
6 up, 6 down
typical move ±9.3%
After a month
6 up, 6 down
typical move ±14.4%
Results releasedNext dayS&P 500 next day5 days21 days
July 29, 2026 −6.8% +0.1% −6.5% −10.5%
May 26, 2026 +7.5% +0.6% +17.8% +8.9%
February 4, 2026 +2.9% −1.7% +10.0% −6.1%
October 28, 2025 −4.8% +0.3% −10.4% −2.5%
July 30, 2025 +20.2% −0.5% +22.0% +27.2%
May 20, 2025 −10.4% −2.0% −12.8% −7.1%
February 4, 2025 +9.0% +1.1% +0.7% −21.2%
October 29, 2024 −7.8% −0.1% −13.9% +1.8%
July 30, 2024 +15.0% +1.1% −0.9% +12.0%
May 21, 2024 −5.5% 0.0% −5.7% −8.1%
January 30, 2024 +4.7% −1.7% +2.9% +35.9%
November 1, 2023 +2.2% +3.0% +7.7% +31.1%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Modine Manufacturing Co’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: rated Sell.

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: no liquid put and call pair for the same expiry.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Modine Manufacturing Co in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Modine Manufacturing Co
$2B $2.5B $3B $3.5B FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 Revenue (TTM), FY24 Q2: $2.4B Revenue (TTM), FY24 Q3: $2.4B Revenue (TTM), FY24 Q4: $2.4B Revenue (TTM), FY25 Q1: $2.4B Revenue (TTM), FY25 Q2: $2.5B Revenue (TTM), FY25 Q3: $2.5B Revenue (TTM), FY25 Q4: $2.6B Revenue (TTM), FY26 Q1: $2.6B Revenue (TTM), FY26 Q2: $2.7B Revenue (TTM), FY26 Q3: $2.9B Revenue (TTM), FY26 Q4: $3.2B Revenue (TTM), FY27 Q1: $3.4B $3.4B

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY24 Q2 $2.4B
FY24 Q3 $2.4B
FY24 Q4 $2.4B
FY25 Q1 $2.4B
FY25 Q2 $2.5B
FY25 Q3 $2.5B
FY25 Q4 $2.6B
FY26 Q1 $2.6B
FY26 Q2 $2.7B
FY26 Q3 $2.9B
FY26 Q4 $3.2B
FY27 Q1 $3.4B
Revenue growth, TTM YoY Modine Manufacturing Co
0% 10% 20% 30% FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 Revenue growth, TTM YoY, FY24 Q2: 10.2% Revenue growth, TTM YoY, FY24 Q3: 7.5% Revenue growth, TTM YoY, FY24 Q4: 4.8% Revenue growth, TTM YoY, FY25 Q1: 2.8% Revenue growth, TTM YoY, FY25 Q2: 2.6% Revenue growth, TTM YoY, FY25 Q3: 4.8% Revenue growth, TTM YoY, FY25 Q4: 7.3% Revenue growth, TTM YoY, FY26 Q1: 6.5% Revenue growth, TTM YoY, FY26 Q2: 8.1% Revenue growth, TTM YoY, FY26 Q3: 13.2% Revenue growth, TTM YoY, FY26 Q4: 23.1% Revenue growth, TTM YoY, FY27 Q1: 29.5% 29.5%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY24 Q2 10.2%
FY24 Q3 7.5%
FY24 Q4 4.8%
FY25 Q1 2.8%
FY25 Q2 2.6%
FY25 Q3 4.8%
FY25 Q4 7.3%
FY26 Q1 6.5%
FY26 Q2 8.1%
FY26 Q3 13.2%
FY26 Q4 23.1%
FY27 Q1 29.5%
Operating margin (TTM) Modine Manufacturing Co
9% 9.5% 10% 10.5% 11% FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 Operating margin (TTM), FY24 Q2: 9.1% Operating margin (TTM), FY24 Q3: 10.0% Operating margin (TTM), FY24 Q4: 10.0% Operating margin (TTM), FY25 Q1: 10.2% Operating margin (TTM), FY25 Q2: 10.4% Operating margin (TTM), FY25 Q3: 10.1% Operating margin (TTM), FY25 Q4: 11.0% Operating margin (TTM), FY26 Q1: 10.9% Operating margin (TTM), FY26 Q2: 10.5% Operating margin (TTM), FY26 Q3: 10.9% Operating margin (TTM), FY26 Q4: 10.8% Operating margin (TTM), FY27 Q1: 10.1% 10.1%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Operating margin (TTM)
FY24 Q2 9.1%
FY24 Q3 10.0%
FY24 Q4 10.0%
FY25 Q1 10.2%
FY25 Q2 10.4%
FY25 Q3 10.1%
FY25 Q4 11.0%
FY26 Q1 10.9%
FY26 Q2 10.5%
FY26 Q3 10.9%
FY26 Q4 10.8%
FY27 Q1 10.1%
FCF margin (TTM) Modine Manufacturing Co
-2% 0% 2% 4% 6% 8% FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 FCF margin (TTM), FY24 Q2: 4.5% FCF margin (TTM), FY24 Q3: 6.4% FCF margin (TTM), FY24 Q4: 5.3% FCF margin (TTM), FY25 Q1: 4.7% FCF margin (TTM), FY25 Q2: 4.0% FCF margin (TTM), FY25 Q3: 3.9% FCF margin (TTM), FY25 Q4: 5.0% FCF margin (TTM), FY26 Q1: 4.4% FCF margin (TTM), FY26 Q2: 1.5% FCF margin (TTM), FY26 Q3: -0.7% FCF margin (TTM), FY26 Q4: 3.3% FCF margin (TTM), FY27 Q1: 3.0% 3.0%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY24 Q2 4.5%
FY24 Q3 6.4%
FY24 Q4 5.3%
FY25 Q1 4.7%
FY25 Q2 4.0%
FY25 Q3 3.9%
FY25 Q4 5.0%
FY26 Q1 4.4%
FY26 Q2 1.5%
FY26 Q3 -0.7%
FY26 Q4 3.3%
FY27 Q1 3.0%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2026, from the 10-K

Each dollar Modine Manufacturing took in during FY2026, followed through to profit: what it cost to make, what went on research and running the business, and what was left after tax.

  1. Revenue $3.2B
  2. Cost of revenue $2.5B · 77.0%
  3. Gross profit $731M · 23.0%
  4. Research and development $29.3M · 0.9%
  5. Selling, general and admin $360M · 11.3%
  6. Operating income $342M · 10.8%
  7. Income tax $63.2M · 2.0%
  8. Interest and other $158M · 5.0%
  9. Net income $122M · 3.8%

Shares of revenue. Source: Modine Manufacturing's 10-K for FY2026, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2010 Mar 2010 2011 Mar 2011 2012 Mar 2012 2013 Mar 2013 2014 Mar 2014 2015 Mar 2015 2016 Mar 2016 2017 Mar 2017 2018 Mar 2018 2019 Mar 2019 2020 Mar 2020 2021 Mar 2021 2022 Mar 2022 2023 Mar 2023 2024 Mar 2024 2025 Mar 2025 2026 Mar 2026 LTM Jun 2026
Income
Revenue 1,163 1,448 1,577 1,376 1,478 1,496 1,353 1,503 2,103 2,213 1,976 1,808 2,050 2,298 2,408 2,584 3,181 3,372
Gross profit 172 232 257 209 238 247 234 254 357 366 308 293 309 389 526 644 731 748
EBITDA 69 99 125 55 95 104 87 101 169 187 115 −29 174 205 297 361 422 423
Operating income 4 43 68 −1 37 53 37 42 92 110 38 −98 119 150 241 284 342 342
Net income −32 5 39 −24 130 22 −2 14 22 85 −2 −211 85 153 162 184 122 144
Diluted EPS −$0.81 $0.11 $0.82 −$0.52 $2.72 $0.45 −$0.03 $0.29 $0.43 $1.65 −$0.04 −$4.11 $1.62 $2.90 $3.03 $3.42 $2.26 $2.68
Growth (year on year)
Revenue — +24.6% +8.9% −12.8% +7.4% +1.3% −9.6% +11.1% +39.9% +5.2% −10.7% −8.5% +13.4% +12.1% +4.8% +7.3% +23.1% +29.5%
EBITDA — +44.6% +26.0% −55.9% +72.6% +9.4% −16.3% +15.2% +67.9% +10.5% −38.4% −125.3% — +17.8% +44.9% +21.7% +16.9% +16.7%
Operating income — — +57.3% −100.9% — +41.7% −29.6% +14.0% +118.0% +19.0% −65.5% — — +26.2% +60.0% +17.8% +20.8% +19.9%
Net income — — — −162.9% — −83.3% — — — — −102.6% — — +79.7% +5.5% +13.9% −34.0% −23.3%
Diluted EPS — — — −163.4% — −83.5% — — — — −102.4% — — +79.0% +4.5% +12.9% −33.9% −23.3%
Margins
Gross margin 14.8% 16.0% 16.3% 15.2% 16.1% 16.5% 17.3% 16.9% 17.0% 16.5% 15.6% 16.2% 15.1% 16.9% 21.8% 24.9% 23.0% 22.2%
EBITDA margin 5.9% 6.9% 7.9% 4.0% 6.4% 7.0% 6.5% 6.7% 8.0% 8.4% 5.8% −1.6% 8.5% 8.9% 12.3% 14.0% 13.3% 12.5%
Operating margin 0.4% 3.0% 4.3% −0.0% 2.5% 3.5% 2.7% 2.8% 4.4% 5.0% 1.9% −5.4% 5.8% 6.5% 10.0% 11.0% 10.8% 10.1%
Net margin −2.7% 0.4% 2.4% −1.8% 8.8% 1.5% −0.1% 0.9% 1.1% 3.8% −0.1% −11.7% 4.2% 6.7% 6.7% 7.1% 3.8% 4.3%
Free-cash-flow margin 0.1% −2.4% −1.2% −0.1% 3.5% 0.3% 0.7% −1.5% 2.5% 1.3% −0.7% 6.5% −1.4% 2.5% 5.3% 5.0% 3.3% 3.0%
Cash flow
Cash from operations 62 21 46 49 105 64 72 42 124 103 58 150 12 108 215 213 249 262
Capital spending 60 55 64 50 53 58 63 64 71 74 71 33 40 51 88 84 143 162
Free cash flow 2 −34 −19 −1 51 5 10 −23 53 29 −13 117 −29 57 127 129 105 100
Stock-based pay 3 4 2 3 4 4 5 7 10 8 7 6 6 7 11 26 22 25
Free cash flow after stock pay −1 −38 −20 −4 48 1 5 −30 44 22 −20 111 −35 50 116 103 83 75
Balance sheet
Cash 44 33 31 24 87 71 69 34 39 42 71 38 45 67 60 72 74 95
Total debt 0 139 164 164 164 130 163 518 485 454 487 339 381 355 434 352 438 530
Net debt (negative = net cash) −44 106 133 140 77 60 94 483 446 412 417 301 336 288 374 281 365 435
Diluted shares — 47m 47m 47m 48m 48m 47m 48m 51m 51m 51m 51m 53m 53m 53m 54m 54m 54m
Returned to shareholders
Buybacks 0 0 1 — 0 0 7 0 0 1 2 0 0 9 18 31 7 67
Total returned 0 0 1 — 0 0 7 0 0 1 2 0 0 9 18 31 7 67

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

5 of 7 checks passed · June 30, 2026
What it owns · $2.8bn
Short-term assets $1.5bnLonger-term assets $1.3bn
What it owes, and who funded it · $2.8bn
Short-term liabilities $750mLonger-term liabilities $836mShareholders' equity $1.2bn
  • Short-term assets cover short-term liabilities $1.5bn of assets due within a year against $750m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $1.5bn short-term assets against $836m of longer-dated liabilities.
  • More cash than debt $95m of cash against $484m of debt.
  • Debt below 40% of shareholders' equity Debt is 40% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 86% to 40% over five years.
  • A year's operating cash flow covers at least 20% of debt $262m of operating cash flow against $484m of debt.
  • Operating profit covers interest at least five times over Operating income of $342m against $32m of interest.

From Modine Manufacturing Co's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2027 Q1 TTM
Buybacks (TTM)
$66.5M
Returned to shareholders
66%
of free cash flow
Buybacks, last 3 fiscal years
$55.6M
Diluted share count
+0.0%
year over year
Total shareholder yield
1.0%
dividends 0.0% + buybacks 1.0% of market value
Sales & admin spending
11.2%
of revenue
Days sales outstanding
71 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in building products
Last 12 months unless stated MOD WMS JELD AOS MBC WTS Median
Revenue, last 12 months $3.4bn $3.2bn $3.2bn $3.8bn $2.8bn $2.7bn $1.8bn
Revenue growth, last 12 months 29.5% 10.4% −8.1% −0.7% −0.0% 17.1% 3.7%
Revenue growth, 3-year average 12.3% 3.2% −11.4% 0.0% −2.7% 10.3% 3.6%
Revenue growth, latest quarter 28.0% 20.6% −0.7% −0.2% 11.5% 18.6% 8.0%
Gross margin 22.2% 38.6% 15.5% 38.6% 26.9% 48.9% 32.0%
Operating margin 10.1% 20.7% −8.8% 17.5% −1.1% 19.1% 7.0%
Operating margin, 3-year average 10.4% 22.3% −5.6% 18.0% 5.7% 17.9% 10.7%
Net margin 4.3% 14.0% −16.4% 13.0% −3.5% 14.3% 5.1%
Cash from operations / revenue 7.8% 25.0% −1.8% 16.1% 5.3% 14.9% 12.4%
Free-cash-flow margin 3.0% 17.1% −5.1% 14.8% 2.7% 13.1% 8.9%
Free-cash-flow margin, 3-year average 4.0% 16.2% −2.5% 14.0% 5.8% 13.6% 8.5%
Stock pay / revenue 0.7% 1.2% 0.5% 0.4% 0.8% 0.9% 0.7%
Change in share count 0.0% −0.1% 1.1% −3.6% 3.0% 0.0% −0.6%

Median of all 46 companies we cover in building products. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

46 building products companies
Measure Company Peer median Rank
Revenue growth Growth 29.5% 4.0% 4 of 46
Change in growth rate Growth +6.3pp +0.8pp 3 of 46
Gross margin Profitability 22.2% 32.1% 33 of 43
Operating margin Profitability 10.1% 7.2% 21 of 45
Net margin Profitability 4.3% 5.6% 25 of 46
Free-cash-flow margin Cash generation 3.0% 9.1% 32 of 46
Stock pay as % of revenue Cash generation 0.7% 0.7% 21 of 41
Long-term debt as % of assets Balance sheet 17.0% 25.7% 11 of 37
Change in share count Balance sheet 0.0% -0.6% 33 of 44
Days sales outstanding Balance sheet 71 days 53 days 29 of 34

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to March 31, 2026
Segments
Line of business Revenue Share YoY
Climate Solutions $2.1B 64.6% ▲ 42.7%
Performance Technologies $1.1B 35.4% ▼ 1.5%
Products and services
Line of business Revenue Share YoY
Data Centers $1.1B 35.0% ▲ 72.6%
On Highway Applications $716M 22.5% ▼ 0.6%
Heat Transfer Solutions $584M 18.4% ▲ 8.3%
Heavy Duty Equipment $409M 12.9% ▼ 3.0%
Hvac Technologies $359M 11.3% ▲ 39.8%
Geography
Region Revenue Share YoY
Americas $2.1B 66.7% ▲ 25.7%
Europe $838M 26.2% ▲ 17.8%
Asia $227M 7.1% ▲ 13.8%

From Modine Manufacturing Co's 10-K filed May 27, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$14B
Institutions reporting
634
Shares held vs prior quarter
▼ 5.5%
Positions opened / closed
141 / 55

Top buyers and sellers, Q2 2026: 339 institutions bought and 279 sold ; the biggest buyer was T. Rowe Price Investment Management, Inc (+795K shares) and the biggest seller Blackrock, Inc (−1.2M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $766M 2.9M 5.5% ▼ 29.8%
Vanguard Capital Management LLC $636M 2.4M 4.5% ▲ 0.7%
Vanguard Portfolio Management LLC $589M 2.2M 4.2% ▼ 6.7%
Capital Research Global Investors $396M 1.5M 2.8% ▼ 13.2%
Paradigm Capital Management Inc $388M 1.5M 2.8% ▼ 0.1%
Invesco Ltd. $338M 1.3M 2.4% ▲ 3.3%
Artisan Partners Limited Partnership $318M 1.2M 2.3% ▲ 20.6%
State Street Corp $312M 1.2M 2.2% ▼ 21.3%
Geode Capital Management, LLC $308M 1.2M 2.2% ▼ 8.3%
Fuller & Thaler Asset Management, Inc. $298M 1.1M 2.1% ▲ 3.2%
T. Rowe Price Investment Management, Inc. $298M 1.1M 2.1% ▲ 248.7%
FMR LLC $281M 1.1M 2.0% ▲ 20.4%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Modine Manufacturing Co's complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $40.4M 40 trades by 8 insiders · 42% under pre-set plans
Net ▼ $40.4M net selling
Insider Date Trade Shares Price Value
Agen Brian Jon VP, CHRO September 10, 2026 Sell 4,306 $180.30 $776,372
Mcginnis Eric S President, Commercial HVAC June 18, 2026 Sell 1,020 $295.07 $300,971
Agen Brian Jon VP, CHRO June 18, 2026 Sell pre-set plan 100 $288.08 $28,808
Agen Brian Jon VP, CHRO June 18, 2026 Sell pre-set plan 400 $287.35 $114,940
Agen Brian Jon VP, CHRO June 18, 2026 Sell pre-set plan 577 $286.06 $165,057
Agen Brian Jon VP, CHRO June 18, 2026 Sell pre-set plan 200 $289.21 $57,842
Agen Brian Jon VP, CHRO June 18, 2026 Sell pre-set plan 123 $284.80 $35,030
Agen Brian Jon VP, CHRO June 18, 2026 Sell pre-set plan 200 $300.04 $60,008
Agen Brian Jon VP, CHRO June 18, 2026 Sell pre-set plan 200 $298.30 $59,660
Agen Brian Jon VP, CHRO June 18, 2026 Sell pre-set plan 15,482 $297.37 $4.6M
Agen Brian Jon VP, CHRO June 18, 2026 Sell pre-set plan 900 $296.18 $266,562
Agen Brian Jon VP, CHRO June 18, 2026 Sell pre-set plan 4,881 $295.42 $1.4M

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around October 27, 2026 estimated from the company's past filing pattern, not announced

  • July 29, 2026
  • May 26, 2026
  • February 4, 2026
  • October 28, 2025
  • July 30, 2025
  • May 20, 2025

Recent SEC filings

Data status

When each part of this page on Modine Manufacturing Co was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Modine Manufacturing Co in brief

What does Modine Manufacturing Co do?
Modine Manufacturing Co is a US-listed company in the building products industry. Its financial year ends in March.
What is Modine Manufacturing Co's stock ticker?
Modine Manufacturing Co trades under the ticker MOD on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Modine Manufacturing Co's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Modine Manufacturing Co reported revenue of $3.4B, 29.5% higher than a year earlier, according to its SEC filings.
What is Modine Manufacturing Co's free cash flow?
Modine Manufacturing Co's free-cash-flow margin is 3.0% of revenue over the trailing twelve months, ranking 32 of the 46 building products companies we cover.
What is Modine Manufacturing Co's fair value (intrinsic value) per share?
Our discounted-cash-flow model of Modine Manufacturing Co's free cash flow after stock-based pay gives ~$70 per share in the base case, and ~$51–$94 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Modine Manufacturing Co's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Capital Management LLC and Vanguard Portfolio Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Modine Manufacturing Co buying back stock, and does it pay a dividend?
Modine Manufacturing Co spent $66.5M on share repurchases over the trailing twelve months, and its diluted share count still rose 0.0% over the year.
What is Modine Manufacturing Co's market cap?
On November 2, 2026, Modine Manufacturing Co's market capitalisation was about $6.6B, with a price-to-earnings ratio of 46.1 and net debt of $435M. Market figures come from third-party market data and may be delayed.
How much debt does Modine Manufacturing Co have?
Modine Manufacturing Co's debt-to-equity ratio is 40.3%, from its latest balance sheet (85.7% five years earlier). The financial health section below sets out its other solvency checks.
Who are Modine Manufacturing Co's competitors?
In our Building Products peer group, the companies closest to Modine Manufacturing Co are Advanced Drainage Systems, Inc., Jeld-wen Holding, Inc., A. O. Smith, Masterbrand, Inc. and Watts Water Technologies Inc. The side-by-side comparison below sets their revenue, margins and growth against Modine Manufacturing Co's.
Are insiders buying or selling Modine Manufacturing Co stock?
Over the last 12 months, Modine Manufacturing Co's directors and officers reported 0 open-market purchases and 40 sales on Form 4. The insider trading page charts every trade.
When is Modine Manufacturing Co's next earnings date?
Around November 3, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Modine Manufacturing Co announces its own schedule.