MODINE MANUFACTURING CO

Listed Company

MODCIK 0000067347NYSELarge AcceleratedMotor Vehicle Parts & AccessoriesWisconsinFY ends Mar 31

Period

FY 2026

Revenue

$3.18B

Net Income

$121.50M

Total Assets

$2.67B

Equity

$1.19B

Shares Out

52.82M

Op. Cash Flow

$248.70M

Business

MODINE MANUFACTURING CO designs, engineers, tests, and manufactures mission-critical thermal management solutions focused on heating, cooling, ventilation, and indoor air quality. Its main products and services include data center cooling systems, HVAC&R equipment, heat exchangers and coatings, air- and liquid-cooled vehicular thermal systems, replacement parts, controls, and maintenance services. The company operates through two primary business segments: Climate Solutions (data center cooling, heat transfer products, HVAC&R) and Performance Technologies (air-cooled, liquid-cooled, and advanced solutions). It sells globally across North America, South America, Europe, and Asia through OEMs, distributors, contractors, and direct customer engagements.

Summary from filing dated 2025-05-21

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	Mar 31, 2026 2026-03-31	Mar 31, 2025 2025-03-31	Mar 31, 2024 2024-03-31
CONSOLIDATED STATEMENTS OF OPERATIONS	—	—	—
Net sales	3,181	2,584	2,408
Cost of sales	2,450	1,940	1,882
Gross profit	731	644	526
Selling, general and administrative expenses	360	332	274
Restructuring expenses	21	28	15
Impairment charge	4	0	0
Loss (gain) on sale of assets	−4	0	4
Operating income	342	284	241
Interest expense	32	26	24
Pension termination charge	−116	0	0
Other expense - net	−8	−3	−2
Earnings before income taxes	187	254	215
Provision for income taxes	63	69	51
Net earnings	123	186	163
Net earnings attributable to noncontrolling interest	2	2	2
Net earnings attributable to Modine	122	184	162
Net earnings per share attributable to Modine shareholders:	—	—	—
Basic (in dollars per share)	2.3	3.5	3.08
Diluted (in dollars per share)	2.26	3.42	3.03
Weighted-average shares outstanding:	—	—	—
Basic (in shares)	53	53	52
Diluted (in shares)	54	54	53

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	Mar 31, 2026 2026-03-31	Mar 31, 2025 2025-03-31
CONSOLIDATED BALANCE SHEETS	—	—
ASSETS	—	—
Cash and cash equivalents	74	72
Trade accounts receivable - net	731	479
Inventories	506	341
Other current assets	106	70
Total current assets	1,416	961
Property, plant and equipment - net	521	391
Intangible assets - net	197	147
Goodwill	292	234
Deferred income taxes	85	67
Other noncurrent assets	163	118
Total assets	2,675	1,918
LIABILITIES AND SHAREHOLDERS' EQUITY	—	—
Short-term debt	8	9
Long-term debt - current portion	44	45
Accounts payable	465	291
Accrued compensation and employee benefits	95	103
Other current liabilities	118	93
Total current liabilities	729	541
Long-term debt	385	297
Deferred income taxes	26	24
Pensions	11	29
Other noncurrent liabilities	321	108
Total liabilities	1,472	999
Commitments and contingencies (see Note 20)	—	—
Shareholders' equity:	—	—
Preferred stock, $0.025 par value, authorized 16.0 million shares, issued - none	—	—
Common stock, $0.625 par value, authorized 80.0 million shares, issued 57.0 million and 56.5 million shares	36	35
Additional paid-in capital	336	311
Retained earnings	965	843
Accumulated other comprehensive loss	−37	−181
Treasury stock, at cost, 4.2 million and 4.1 million shares	105	98
Total Modine shareholders' equity	1,195	910
Noncontrolling interest	8	8
Total equity	1,203	918
Total liabilities and equity	2,675	1,918

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	Mar 31, 2026 2026-03-31	Mar 31, 2025 2025-03-31	Mar 31, 2024 2024-03-31
CONSOLIDATED STATEMENTS OF CASH FLOWS	—	—	—
Cash flows from operating activities:	—	—	—
Net earnings	123	186	163
Adjustments to reconcile net earnings to net cash provided by operating activities:	—	—	—
Depreciation and amortization	80	78	56
Impairment charge	4	0	0
Loss (gain) on sale of assets	−4	0	4
Pension termination charge	−116	0	0
Stock-based compensation expense	22	26	11
Deferred income taxes	−39	7	6
Other - net	−7	−7	−6
Changes in operating assets and liabilities:	—	—	—
Trade accounts receivable	223	61	8
Inventories	125	−14	17
Accounts payable	151	11	−59
Accrued compensation and employee benefits	−14	2	15
Increase (decrease) in contract liabilities	159	−45	58
Other assets	3	−15	−12
Other liabilities	−14	−25	−25
Net cash provided by operating activities	249	213	215
Cash flows from investing activities:	—	—	—
Expenditures for property, plant and equipment	143	84	88
Payments for business acquisitions, net of cash acquired	182	3	186
Purchase of TMGcore, Inc. technology and related assets (see Note 2)	0	0	12
Proceeds from (payments for) disposition of assets	−800,000	−800,000	800,000
Other - net	−4	0	−3
Net cash used for investing activities	−321	−87	−283
Cash flows from financing activities:	—	—	—
Borrowings of debt	830	415	333
Repayments of debt	746	496	260
(Repayments) borrowings on bank overdrafts - net	−5	−700,000	6
Purchases of treasury stock	7	31	18
Dividends paid to noncontrolling interest	2	1	500,000
Other - net	3	900,000	3
Net cash provided by (used for) financing activities	73	−114	63
Effect of exchange rate changes on cash	1	−2	−800,000
Net increase (decrease) in cash, cash equivalents and restricted cash	2	12	−7
Cash, cash equivalents and restricted cash - end of period	—	—	—
Cash, cash equivalents and restricted cash - end of period	—	—	—

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