Modine Manufacturing Company: financial statements
Price
$135.66
November 13, 2026
What Ploutos Investor adds for Modine Manufacturing
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- The full history: 17 fiscal years, from FY2010
- The estimated fair value, with its range and its certainty
- The full analysis, 18 a month
- More questions to the chat on its filings
- Excel with every year
- An email when it reports, changes its dividend or an officer buys
Sign in with a free account to see the last 5 fiscal years.
Notes on these figures
- The share price has risen 38% since Nov 4, 2026, when the 10-Q these figures come from was filed ($98.56 then, $135.66 on Nov 13, 2026). The figures date from before that move.10-Q
- The share price was recently adjusted for a split or a spin-off that the company's last filing does not include yet. Market value, P/E, yields and the other figures measured against the price would mix the new shares with the old figures, so we leave them out until the next filing.
Financial statements
Each fiscal year's income statement, balance sheet and cash flow as the company filed them, and the latest quarters.
Click a line to see it on the chart.
Revenue
Financial statements
MOD's revenue, profits and cash flows from FY2010 to FY2023, 14 more fiscal years
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By segment
Revenue and operating income by business segment or by product, as the company itself reports them in each year's 10-K. Each year from the latest filing that carries it, so a segment renamed or re-cut shows in its current form.
- FY2024: Climate Solutions $1.1B, Performance Technologies $1.3B
- FY2025: Climate Solutions $1.4B, Performance Technologies $1.2B
- FY2026: Climate Solutions $2.1B, Performance Technologies $1.1B
By segment
MOD's revenue by segment from FY2014 to FY2023, 10 more fiscal years
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From the XBRL of 11 of the company's annual reports to the SEC (ASC 280). Amounts in dollars.
Amounts are in dollars as the company filed them in its annual reports (10-K or 20-F). Those reporting in another currency are converted at each fiscal year-end rate. Shares and earnings per share are adjusted for splits.
Debt and obligations
What the company owes beyond the loans on its balance sheet, and when it pays, from the notes to its annual report: debt maturities, leases, pension plans, goodwill by segment, and how it gets to the tax it pays.
When the debt falls due
Mar 31, 2026Due within 2 years
$80M
Principal of loans and bonds falling due, from the annual report dated March 31, 2026, without leases and interest. The filing
- 3/2027: $44M
- 3/2028: $36M
Leases
Mar 31, 2026Operating leases
$144M
Finance leases
$2.3M
The liability is the present value of the rent still to pay, at March 31, 2026. It is not counted in the ladder's debt. The filing
Pension plans
Mar 31, 2026Defined-benefit pensions
0%funded
Deficit $12M.
The obligation is the present value of the pensions employees have already earned, at March 31, 2026. A deficit is the company's to fill with contributions. The filing
Goodwill by segment
Mar 31, 2026Total goodwill
$292M
- Climate Solutions$292M100%
Goodwill is what the company paid in acquisitions above the value of what it bought, at March 31, 2026. If an acquisition earns less, the goodwill is impaired and earnings fall. The filing
From the statutory to the effective tax rate, FY2026
Mar 31, 2026Statutory rate
21.0%
Effective rate
33.9%
The company paid 33.9% in tax on its profit, 12.9 points above the US federal rate (21.0%). Below, the reasons it gives.
Statutory rate
21.0%
Pension Termination
+7.3 pts
Difference the filing does not itemize
+5.6 pts
Effective rate
33.9%
One point is 1% of profit before tax. The lines are as the company states them in the notes to its annual report. The filing
Earnings quality
How the reported earnings were made, read from the filings. A description, not a score: our tests found no link between these measures and later share returns.
Where the change in earnings per share came from
Diluted earnings per share went from $3.41 in the fiscal year to Mar 31, 2025 to $2.26 in the year to Mar 31, 2026, a change of -$1.16.
Measured by size, 67.9% of the movement came from outside sales and operating margin: interest and other items, the tax rate, what went to others and the share count.
- +$0.83
- -$0.08
- -$1.61
- -$0.28
- -$0.02
- +$0.01
Earnings per share is split as sales times operating margin, plus interest and other items, after tax, times the part that goes to the common shareholders, divided by the diluted share count. Each source's part is its average effect over every order in which the six can change, so the parts add up exactly to the change. From the annual reports; net income over the diluted count matches the earnings per share the company filed within 2%.
Receivables and inventory against sales
In the quarter to Sep 30, 2026, sales were +34.6% on the same quarter a year earlier, and receivables +42.2%. Inventory was +31.9%, against +37.5% for the cost of sales.
- a year earlier 69 days
- 73 days
- a year earlier 84 days
- 80 days
Balances at Sep 30, 2026 and Sep 30, 2025, against the sales and cost of sales of the quarter ending on each date; a fourth quarter is the fiscal year less its first nine months. Same quarter against same quarter, so the season is the same.
Taxes: deferred and paid
The deferred part was -61.9% of the tax charge in the year to Mar 31, 2026. The rows show the last 3 years.
Cash taxes paid were 74.1% of the current tax charge in the year to Mar 31, 2026.
- Deferred share, year to Mar 31, 2026-$39M of $63M
- -61.9%
- Deferred share, year to Mar 31, 2025$6.5M of $69M
- 9.5%
- Deferred share, year to Mar 31, 2024$6.2M of $51M
- 12.1%
- $76M paid, $102M current
- 74.1%
When profit in the accounts runs ahead of taxable profit, the deferred part grows. It also moves for reasons unrelated to how earnings are booked: tax-law changes, the use of past losses, and the US rule since 2022 that spreads research costs over five years. Where the notes report it, the tax-rate bridge under Debt and obligations shows how the rate gets from the statutory one to the effective one.
The allowance for doubtful accounts is not shown: the company does not tag it in its structured filings.
A reading is called out when it is above the 90th percentile of the same reading across the S&P 500, or, for a fall, below the 10th, as measured on 9 November 2026. Each part uses only the company's own filings.
The full analysis
What do Modine Manufacturing's filings show?
These are Modine Manufacturing's figures from its filings. The full Ploutos AI analysis reads everything the company has filed and shows what stands behind it, with a source for every figure.
- A fair value range built from the filings
- Earnings quality, debt and red flags
- Insider and institutional moves
- The case for and the case against
How much revenue did MOD have in FY2026?
Modine Manufacturing had revenue of $3.2B and net income of $122M in fiscal FY2026, a net margin of 3.8%.
How much debt does MOD have?
On March 31, 2026 Modine Manufacturing had total assets of $2.7B, debt of $429M and shareholders' equity of $1.2B.
How much free cash flow does MOD have?
In fiscal FY2026 Modine Manufacturing had cash from operations of $249M and spent $143M on capital expenditure, leaving $105M of free cash flow.
Where are the figures from?
From Modine Manufacturing Company's annual and quarterly reports to the SEC, read from the structured data (XBRL) it files itself.
Related pages
The other pages on US stocks, free to read. On the company pages, the last three fiscal years are open to everyone, five with a free account, and every year with Ploutos Investor.
The figures come from the company's SEC filings and the share price, and describe what it has reported. They are not a score or a fair value.