Modine Manufacturing Co (MOD)

Modine Manufacturing Company designs, engineers, tests, manufactures, and sells mission-critical thermal solutions in the United States, Canada, Italy, Hungary, the United Kingdom, China, and internationally. It offers heat transfer products, including round tube plate fin construction; gas-fired, hydronic, electric, and oil fired unit heaters; roof-mounted direct- and indirect-fired makeup air units, duct furnaces, infrared units, and perimeter heating products; single packaged unit ventilators, modular chillers, air handler and condensing units, and ceiling cassettes; evaporator unit coolers, remote condensers, fluid coolers, gas coolers, and dry and brine coolers; and motor and generator cooling coils, transformer oil coolers, radiators, dryers, and industrial heat exchangers. The company also provides data center products that consists of IT cooling solutions, including chillers, dry coolers, precision air handling units, computer room air conditioning, computer room air handler units, fan walls, rear-door heat exchangers, coolant distribution units, and immersion solutions, as well as sells replacement parts, maintenance service and control solutions for existing equipment and new building management controls and systems. In addition, it offers powertrain cooling products, such as radiators, condensers, engine cooling modules, charge air coolers, fan shrouds, and surge tanks; cooling module generator sets; aluminum and stainless steel engine oil coolers, exhaust gas recirculation coolers, liquid charge air coolers, transmission and retarder oil coolers, chillers, and condensers; battery thermal management systems, electronics cooling packages, battery chillers, battery cooling plates, coolers and casings for electronics cooling, and coolers for electric axles; and coatings products and application services. The company was incorporated in 1916 and is headquartered in Racine, Wisconsin.

Ticker
MOD
Exchange
NYSE
Sector
Industrials
Industry
Building Products & Equipment
Market cap
$5.15B
52-week range
$87.84 - $323.25

Valuation

Share price
$96.61 (close of Nov 6, 2026)
P/E (TTM)
39.59x
Price to book
4.16x
Price to free cash flow
-520.13x
Enterprise value
$5.72B
Book value per share
$23.24

Price performance

PeriodChange
1 day+5.71%
5 days-25.55%
1 month-49.13%
3 months-49.82%
6 months-64.77%
Year to date-27.64%
1 year-35.20%
3 years+137.14%
5 years+760.28%
10 years+938.82%
All time+5,582.94%

Short interest

As of
Oct 15, 2026
Short % of float
4.81%
Shares short
2.50M
Days to cover
1.80
Change since prior report
-19.60%
Source
FINRA consolidated short interest

Profitability and growth

Return on equity
10.10%
Return on invested capital
17.03%
Return on assets
4.54%
Return on capital employed
17.60%
Gross margin
22.98%
Net margin
3.82%
EBITDA margin
13.27%
Revenue growth
23.13%
Net income growth
-33.97%
Free cash flow growth
-18.48%

Cash flow and balance sheet

Free cash flow yield (TTM)
-0.19%
Current ratio
2.17x
Net debt to EBITDA
1.74x

Latest reported year

Period end
Mar 31, 2026
Fiscal year
2026
Revenue
$3.18B
Cost of revenue
$2.45B
Gross profit
$731.10M
EBITDA
$422.10M
Net income
$121.50M
Earnings per share
$2.30
Research and development
$29.30M
Interest expense
$31.60M
Shares outstanding
52.80M

Income statement by year

Period endRevenueGross profitNet incomeEPS
2026-03-31$3.18B$731.10M$121.50M$2.30
2025-03-31$2.58B$643.80M$184.00M$3.50
2024-03-31$2.41B$525.60M$161.50M$3.08
2023-03-31$2.30B$389.40M$153.10M$2.93
2022-03-31$2.05B$309.30M$85.20M$1.64
2021-03-31$1.81B$293.40M-$210.70M-$4.11
2020-03-31$1.98B$307.50M-$2.20M-$0.04
2019-03-31$2.21B$365.50M$84.80M$1.67
2018-03-31$2.10B$356.50M$22.20M$0.44
2017-03-31$1.50B$254.40M$14.20M$0.29

Margins and returns by year

Period endGross marginNet marginReturn on equityReturn on capital
2026-03-3122.98%3.82%10.10%17.03%
2025-03-3124.92%7.12%20.04%16.94%
2024-03-3121.83%6.71%21.38%15.96%
2023-03-3116.95%6.66%25.53%15.79%
2022-03-3115.09%4.16%18.60%11.98%
2021-03-3116.22%-11.65%-59.17%-13.48%
2020-03-3115.57%-0.11%-0.45%2.50%
2019-03-3116.52%3.83%15.67%10.93%
2018-03-3116.95%1.06%4.45%5.62%
2017-03-3116.93%0.94%3.37%4.04%

Cash and debt by year

Period endCashDebt
2026-03-31$73.50M$384.90M
2025-03-31$71.60M$296.70M
2024-03-31$60.10M$399.90M
2023-03-31$70.60M$329.30M
2022-03-31$48.90M$348.40M
2021-03-31$41.50M$311.20M
2020-03-31$74.10M$452.00M
2019-03-31$46.00M$382.20M
2018-03-31$45.00M$386.30M
2017-03-31$38.90M$405.70M

Free cash flow by year

Period endFree cash flowStock-based compensation
2026-03-31$105.40M$22.10M
2025-03-31$129.30M$26.40M
2024-03-31$126.90M$10.80M
2023-03-31$56.80M$6.60M
2022-03-31-$28.80M$5.70M
2021-03-31$117.10M$6.30M
2020-03-31-$13.40M$6.60M
2019-03-31$29.40M$7.90M
2018-03-31$53.20M$9.50M
2017-03-31-$22.70M$7.40M

Dividend history

Most recent payment
Nov 19, 2008
Payment dateDividend per share
2008-11-19$0.10
2008-08-20$0.10
2008-06-04$0.10
2008-02-13$0.17
2007-11-19$0.17
2007-08-21$0.17
2007-05-23$0.17
2007-02-13$0.17

Investor relations

Past earnings dates

ReportedFiscal periodEPS estimate
2026-11-03Sep 2026$1.55
2026-07-29Jun 2026$1.27
2026-05-26Mar 2026$1.51
2026-02-04Dec 2025$0.99
2025-10-28Sep 2025$0.97
2025-07-30Jun 2025$0.93
2025-05-20Mar 2025$0.95
2025-02-04Dec 2024$0.79

Filings and sources

Company website
modine.com
SEC filings
10-K, 10-Q and 8-K on EDGAR
Earnings calendar
All upcoming reports

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