MOD on NYSE

MODINE MANUFACTURING CO

American motor vehicle parts and accessories company based in Racine.

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Last updated Oct 18, 2026.

Overview

$3.2BRevenue, fiscal 20262
$121.5MNet income, fiscal 20262

Compare with Allison Transmission, PHINIA INC. or Garrett Motion Inc., or pick any stock.

  • TickerMOD on NYSE
  • IndustryMotor Vehicle Parts & Accessories
  • HeadquartersRacine, United States
  • Incorporated inWI3
  • Business address1500 Dekoven Ave, Racine, Wi 534033
  • Filer categoryLarge accelerated filer3

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Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2026

23.0%Gross margin2
10.8%Operating margin2
3.8%Net margin2
23.1%Revenue growth, 20262
10.2%Return on equity2
$105.4MFree cash flow2

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Data Centers brought in 35% of the revenue MODINE MANUFACTURING CO broke down this way in fiscal 2026.

  1. Data Centers$1.1B235%up 73% from 2025
  2. On-highway applications$716.4M223%down 1% from 2025
  3. Heat Transfer Solutions$584.1M218%up 8% from 2025
  4. Heavy-duty equipment$409.3M213%down 3% from 2025
  5. HVAC Technologies$359.2M211%up 40% from 2025
Products and services by year
Products and services202420252026
Data Centers$294.2M$644.2M$1.1B
On-highway applications$836.4M$720.8M$716.4M
Heat Transfer Solutions$606.4M$539.4M$584.1M
Heavy-duty equipment$463.3M$422.1M$409.3M
HVAC Technologies$207.5M$257.0M$359.2M

Business segments

Climate Solutions brought in 65% of the revenue MODINE MANUFACTURING CO broke down this way in fiscal 2026.

  1. Climate Solutions$2.1B265%up 43% from 2025
  2. Performance Technologies$1.1B235%down 2% from 2025
Business segments by year
Business segments202420252026
Climate Solutions$1.1B$1.4B$2.1B
Performance Technologies$1.3B$1.1B$1.1B

Regions

Americas brought in 67% of the revenue MODINE MANUFACTURING CO broke down this way in fiscal 2026.

  1. Americas$2.1B267%up 26% from 2025
  2. Europe$838.2M226%up 18% from 2025
  3. Asia$226.6M27%up 14% from 2025
Regions by year
Regions202420252026
Americas$1.4B$1.7B$2.1B
Europe$839.5M$711.7M$838.2M
Asia$219.9M$199.2M$226.6M

Where the money goes

Where each dollar of revenue went, fiscal 2026

  • Cost of revenue77¢$2.5B
  • Research and development1¢$29.3M
  • Selling, general and admin11¢$360.1M
  • Other costs5¢$157.0M
  • Income tax2¢$63.2M
  • Profit4¢$121.5M

Out of $3.2B in revenue.2

Where each dollar of operating cash went, fiscal 2026

  • Capital spending58¢$143.3M
  • Share buybacks3¢$7.0M
  • Kept or used elsewhere40¢$98.4M

Out of $248.7M of cash from operations.2

Financial statements

Revenue456782$3.2B in 2026+44% since 2019
0$1.0B$2.0B$3.0B$4.0B2019: $2.2B$2.2B20192020: $2.0B$2.0B2020−11%2021: $1.8B$1.8B2021−8%2022: $2.1B$2.1B2022+13%2023: $2.3B$2.3B2023+12%2024: $2.4B$2.4B2024+5%2025: $2.6B$2.6B2025+7%2026: $3.2B$3.2B2026+23%
Gross profit456782$731.1M in 2026+100% since 2019
0$200.0M$400.0M$600.0M$800.0M2019: $365.5M$365.5M20192020: $307.5M$307.5M2020−16%2021: $293.4M$293.4M2021−5%2022: $309.3M$309.3M2022+5%2023: $389.4M$389.4M2023+26%2024: $525.6M$525.6M2024+35%2025: $643.8M$643.8M2025+22%2026: $731.1M$731.1M2026+14%
Operating income456782$342.4M in 2026+212% since 2019
-$200.0M0$200.0M$400.0M2019: $109.7M$109.7M20192020: $37.9M$37.9M2020−65%2021: -$97.7M-$97.7M20212022: $119.2M$119.2M20222023: $150.4M$150.4M2023+26%2024: $240.7M$240.7M2024+60%2025: $283.5M$283.5M2025+18%2026: $342.4M$342.4M2026+21%
Net income456782$121.5M in 2026+43% since 2019
-$300.0M-$200.0M-$100.0M0$100.0M$200.0M2019: $84.8M$84.8M20192020: -$2.2M-$2.2M20202021: -$210.7M-$210.7M2021+9477%2022: $85.2M$85.2M20222023: $153.1M$153.1M2023+80%2024: $161.5M$161.5M2024+5%2025: $184.0M$184.0M2025+14%2026: $121.5M$121.5M2026−34%

Every line of the income statement in the latest annual report, as filed.2

Period ending2026-03-312025-03-312024-03-31
Net sales$3.2B$2.6B$2.4B
Cost of sales$2.5B$1.9B$1.9B
Gross profit$731.1M$643.8M$525.6M
Selling, general and administrative expenses$360.1M$332.1M$273.9M
Restructuring expenses$20.6M$28.2M$15.0M
Impairment charge$4.1M$0$0
Loss (gain) on sale of assets$3.9M$0-$4.0M
Operating income$342.4M$283.5M$240.7M
Interest expense-$31.6M-$26.4M-$24.1M
Pension termination charge-$116.1M$0$0
Other expense - net-$8.2M-$3.1M-$2.0M
Earnings before income taxes$186.5M$254.0M$214.6M
Provision for income taxes-$63.2M-$68.5M-$51.2M
Net earnings$123.3M$185.5M$163.4M
Net earnings attributable to noncontrolling interest-$1.8M-$1.5M-$1.9M
Net earnings attributable to Modine$121.5M$184.0M$161.5M
Basic (in dollars per share)$2.30$3.50$3.08
Diluted (in dollars per share)$2.26$3.42$3.03
Basic (in shares)52.8M shares52.6M shares52.4M shares
Diluted (in shares)53.8M shares53.9M shares53.4M shares

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Leadership

Who has led MODINE MANUFACTURING CO, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. David B. Rayburn2006–2008
  2. Michael B. Lucareli2020
  3. Neil David Brinker2020–now

President

  1. David B. Rayburn2006–2008
  2. Michael B. Lucareli2020
  3. Neil David Brinker2020–2022
  4. Eric S. McGinnis2022
  5. Adrian Ian Peace2022–2024
  6. Jeremy Michael Patten2025–2026
  7. Arthur Laszlo Jr.2026
  8. Michael Bernard Mahan2026–now

Chief financial officer

  1. Bradley C. Richardson2006–2009
  2. Michael B. Lucareli2010–now

Chief operating officer

  1. Thomas F. Marry2012–2018
  2. Scott L. Bowser2019–2020
2010201520202025
Board members and other officers (48)

Timeline

  1. Dec 3, 2020New chief executive Neil David Brinker becomes CEO14
  2. Oct 6, 2020New chief executive Michael B. Lucareli becomes CEO13
  3. Jan 10, 2006New chief executive David B. Rayburn becomes CEO15
  4. Jun 23, 1916Founded MODINE MANUFACTURING CO is founded71

Recent filings

  1. Oct 13, 2026DEF 14A
  2. Oct 8, 20264
  3. Oct 7, 20268-K/A
  4. Oct 1, 20268-K
  5. Sep 29, 20264
  6. Sep 17, 20268-K
  7. Sep 17, 2026425
  8. Sep 14, 20264
  9. Sep 10, 2026144
  10. Sep 10, 20268-K
  11. Sep 10, 2026425
  12. Aug 21, 20268-K
  13. Aug 21, 20264
  14. Aug 21, 20264
  15. Aug 21, 20264

Every filing from the last three years, summarized. The full record is on SEC EDGAR.1

Sources

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