MOD financial statements

The full income statement, balance sheet, and cash-flow statement for Modine Manufacturing Company (MOD), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

Shares outstanding (point-in-time)

2024-06 52.4M2024-09 52.5M2024-12 52.6M2025-03 52.4M2025-06 52.5M2025-09 52.6M2025-12 52.7M2026-03 52.8M2026-06 53.1M+1.3% over 8 periods

SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.

PeriodRangeOrderChangeYoYQoQFiguresAs-reported fiscal years.

Line item	FY2026	FY2025	FY2024	FY2023	FY2022
Income Statement	as ofMar 31 ’26	as ofMar 31 ’25	as ofMar 31 ’24	as ofMar 31 ’23	as ofMar 31 ’22
Revenue	3.18B YoY+23.1%	2.58B YoY+7.3%	2.41B YoY+4.8%	2.30B YoY+12.1%	2.05B YoY+13.4%
	731M YoY+13.6%	644M YoY+22.5%	526M YoY+35.0%	389M YoY+25.9%	309M YoY+5.4%
Cost of revenue	2.45B YoY+26.3%	1.94B YoY+3.1%	1.88B YoY-1.4%	1.91B YoY+9.6%	1.74B YoY+14.9%
Research & development	29.3M YoY-16.0%	34.9M YoY-16.9%	42.0M YoY-4.5%	44.0M YoY-12.5%	50.3M YoY+8.6%
Selling, general & administrative	360M YoY+8.4%	332M YoY+21.2%	274M YoY+17.1%	234M YoY+8.8%	215M YoY+2.0%
Restructuring	20.6M YoY-27.0%	28.2M YoY+88.0%	15.0M YoY+200.0%	5.00M YoY-79.3%	24.1M YoY+79.9%
Amortization of intangibles	21.0M YoY-23.4%	27.4M YoY+197.8%	9.20M YoY+15.0%	8.00M YoY-4.8%	8.40M YoY-1.2%
Operating income	342M YoY+20.8%	284M YoY+17.8%	241M YoY+60.0%	150M YoY+26.2%	119M YoY+222.0%
Interest expense	31.6M YoY+19.7%	26.4M YoY+9.5%	24.1M YoY+16.4%	20.7M YoY+32.7%	15.6M YoY-19.6%
Interest & investment income	2.00M YoY-25.9%	2.70M YoY-37.2%	4.30M YoY+230.8%	1.30M YoY+225.0%	400K YoY-20.0%
Other non-operating income	-8.20M YoY-164.5%	-3.10M YoY-55.0%	-2.00M YoY+54.5%	-4.40M YoY-109.5%	-2.10M YoY+4.5%
Equity-method income	—	—	—	—	0.00
Pre-tax income	187M YoY-26.6%	254M YoY+18.4%	215M YoY+71.3%	125M YoY+23.4%	102M YoY+185.1%
Income tax	63.2M YoY-7.7%	68.5M YoY+33.8%	51.2M YoY+280.9%	-28.3M YoY-286.2%	15.2M YoY-83.1%
	122M YoY-34.0%	184M YoY+13.9%	162M YoY+5.5%	153M YoY+79.7%	85.2M YoY+140.4%
Net income to non-controlling interest	1.80M YoY+20.0%	1.50M YoY-21.1%	1.90M YoY+280.0%	500K YoY-54.5%	1.10M YoY-8.3%
	$2.26 YoY-33.9%	$3.42 YoY+12.9%	$3.03 YoY+4.5%	$2.90 YoY+79.0%	$1.62 YoY+139.4%
EPS (basic)	$2.30 YoY-34.3%	$3.50 YoY+13.6%	$3.08 YoY+5.1%	$2.93 YoY+78.7%	$1.64 YoY+139.9%
	52.8M YoY+0.4%	52.6M YoY+0.4%	52.4M YoY+0.2%	52.3M YoY+0.6%	52.0M YoY+1.4%
	53.8M YoY-0.2%	53.9M YoY+0.9%	53.4M YoY+1.1%	52.8M YoY+0.6%	52.5M YoY+2.3%
Balance Sheet	as ofMar 31 ’26	as ofMar 31 ’25	as ofMar 31 ’24	as ofMar 31 ’23	as ofMar 31 ’22
	1.42B YoY+47.3%	961M YoY+7.5%	894M YoY+5.6%	846M YoY+11.7%	758M YoY+17.5%
Cash & equivalents	73.5M YoY+2.7%	71.6M YoY+19.1%	60.1M YoY-10.4%	67.1M YoY+48.5%	45.2M YoY+19.6%
Short-term investments	—	—	0.00 YoY-100.0%	3.50M YoY-5.4%	3.70M YoY+0.0%
Accounts receivable	731M YoY+52.6%	479M YoY+13.2%	423M YoY+6.3%	398M YoY+8.3%	368M YoY+37.2%
Inventory	506M YoY+48.5%	341M YoY-4.7%	358M YoY+10.2%	325M YoY+15.5%	281M YoY+43.8%
Other current assets	106M YoY+51.1%	69.8M YoY+31.5%	53.1M YoY-5.9%	56.4M YoY-11.5%	63.7M YoY+77.4%
	2.67B YoY+39.5%	1.92B YoY+3.6%	1.85B YoY+18.2%	1.57B YoY+9.7%	1.43B YoY+11.8%
Property, plant & equipment	521M YoY+33.4%	391M YoY+6.8%	366M YoY+16.3%	315M YoY-0.3%	315M YoY+16.9%
Operating lease right-of-use	139M YoY+42.9%	97.2M YoY+27.9%	76.0M YoY+28.6%	59.1M YoY+13.4%	52.1M YoY-3.7%
Goodwill	292M YoY+24.9%	234M YoY+1.3%	231M YoY+39.4%	166M YoY-1.5%	168M YoY-1.5%
Intangible assets	197M YoY+34.3%	147M YoY-22.1%	188M YoY+132.2%	81.1M YoY-10.2%	90.3M YoY-10.2%
Deferred tax assets	85.3M YoY+27.3%	67.0M YoY-10.8%	75.1M YoY-10.3%	83.7M YoY+207.7%	27.2M YoY+11.0%
Other non-current assets	163M YoY+38.0%	118M YoY+21.3%	97.5M YoY+30.7%	74.6M YoY+9.1%	68.4M YoY+3.3%
	729M YoY+34.7%	541M YoY-0.9%	546M YoY+7.6%	507M YoY+2.5%	495M YoY+5.4%
Accounts payable	465M YoY+59.8%	291M YoY+2.6%	283M YoY-14.8%	333M YoY+2.1%	326M YoY+39.3%
Deferred revenue	23.9M YoY-28.0%	33.2M	—	—	—
Short-term & current debt	7.50M YoY-19.4%	9.30M YoY-22.5%	12.0M YoY+224.3%	3.70M YoY-51.9%	7.70M YoY+450.0%
Current lease liability	26.3M YoY+46.1%	18.0M YoY+17.6%	15.3M YoY+29.7%	11.8M YoY-7.1%	12.7M YoY+13.4%
Other current liabilities	118M YoY+25.9%	93.4M YoY-27.7%	129M YoY+111.3%	61.1M YoY+12.7%	54.2M YoY+28.4%
Finance lease liability (current)	500K YoY+0.0%	500K YoY+25.0%	400K YoY+0.0%	400K YoY+0.0%	400K YoY+0.0%
	1.47B YoY+47.3%	999M YoY-8.8%	1.10B YoY+13.4%	966M YoY-0.3%	969M YoY+5.2%
Long-term debt	385M YoY+29.7%	297M YoY-25.8%	400M YoY+21.4%	329M YoY-5.5%	348M YoY+12.0%
Deferred revenue (non-current)	171M YoY+8878.9%	1.90M	—	—	—
Non-current lease liability	118M YoY+45.8%	80.6M YoY+29.8%	62.1M YoY+27.0%	48.9M YoY+18.7%	41.2M YoY-8.0%
Operating lease liability (total)	144M YoY+45.8%	98.6M YoY+27.4%	77.4M YoY+27.5%	60.7M YoY+12.6%	53.9M YoY-3.8%
Finance lease liability (total)	2.30M YoY-14.8%	2.70M YoY+17.4%	2.30M YoY-14.8%	2.70M YoY-15.6%	3.20M YoY-11.1%
Finance lease liability	1.80M YoY-18.2%	2.20M YoY+15.8%	1.90M YoY-17.4%	2.30M YoY-17.9%	2.80M YoY-12.5%
Deferred tax liabilities	25.6M YoY+6.2%	24.1M YoY-19.7%	30.0M YoY+525.0%	4.80M YoY-18.6%	5.90M YoY+0.0%
Other non-current liabilities	332M YoY+207.2%	108M YoY+16.8%	92.6M YoY+9.1%	84.9M YoY+16.5%	72.9M YoY-3.7%
	1.19B YoY+31.2%	910M YoY+21.7%	748M YoY+26.1%	593M YoY+31.5%	451M YoY+29.3%
Preferred stock	—	0.00	0.00	0.00	0.00
Common stock	35.6M YoY+0.8%	35.3M YoY+0.9%	35.0M YoY+1.2%	34.6M YoY+1.2%	34.2M YoY+0.9%
Additional paid-in capital	336M YoY+8.1%	311M YoY+9.6%	284M YoY+4.8%	271M YoY+3.5%	262M YoY+2.6%
Retained earnings	965M YoY+14.4%	843M YoY+27.9%	659M YoY+32.5%	498M YoY+44.5%	344M YoY+32.9%
Treasury stock	105M YoY+7.2%	97.6M YoY+46.3%	66.7M YoY+36.1%	49.0M YoY+22.5%	40.0M YoY+4.7%
Accumulated other comprehensive income	-37.1M YoY+79.5%	-181M YoY-11.0%	-163M YoY-1.4%	-161M YoY-7.8%	-150M YoY+7.3%
Non-controlling interest	8.30M YoY+3.8%	8.00M YoY+1.3%	7.90M YoY+16.2%	6.80M YoY-8.1%	7.40M YoY+0.0%
Total equity incl. non-controlling	1.20B YoY+31.0%	918M YoY+21.5%	756M YoY+26.0%	600M YoY+30.9%	458M YoY+28.6%
Total liabilities & equity	2.67B YoY+39.5%	1.92B YoY+3.6%	1.85B YoY+18.2%	1.57B YoY+9.7%	1.43B YoY+11.8%
	57.0M YoY+0.9%	56.5M YoY+0.7%	56.1M YoY+1.3%	55.4M YoY+1.1%	54.8M YoY+0.9%
	52.8M YoY+0.8%	52.4M YoY+0.1%	52.3M YoY+0.5%	52.1M YoY+0.2%	52.0M YoY+0.7%
Cash Flow	as ofMar 31 ’26	as ofMar 31 ’25	as ofMar 31 ’24	as ofMar 31 ’23	as ofMar 31 ’22
	249M YoY+16.6%	213M YoY-0.6%	215M YoY+99.6%	108M YoY+834.8%	11.5M YoY-92.3%
Depreciation & amortization	79.7M YoY+2.6%	77.7M YoY+38.5%	56.1M YoY+2.9%	54.5M YoY-0.5%	54.8M YoY-20.1%
Intangible amortization	21.0M YoY-23.4%	27.4M YoY+197.8%	9.20M YoY+15.0%	8.00M YoY-4.8%	8.40M YoY-1.2%
Share-based compensation	22.1M YoY-16.3%	26.4M YoY+144.4%	10.8M YoY+63.6%	6.60M YoY+15.8%	5.70M YoY-9.5%
Deferred income taxes	-39.1M YoY-701.5%	6.50M YoY+4.8%	6.20M YoY+110.4%	-59.6M YoY-1468.4%	-3.80M YoY-105.6%
Change in receivables	223M YoY+263.7%	61.2M YoY+637.3%	8.30M YoY-79.6%	40.7M YoY-26.8%	55.6M YoY+225.1%
Change in inventory	125M YoY+1019.9%	-13.6M YoY-178.6%	17.3M YoY-65.0%	49.4M YoY-30.1%	70.7M YoY+1314.0%
Change in payables	151M YoY+1339.0%	10.5M YoY+117.8%	-59.1M YoY-679.4%	10.2M YoY-81.5%	55.1M YoY+25.2%
	-321M YoY-271.0%	-86.6M YoY+69.4%	-283M YoY-462.3%	-50.4M YoY+1.2%	-51.0M YoY-62.9%
Capital expenditure	143M YoY+70.6%	84.0M YoY-4.2%	87.7M YoY+73.0%	50.7M YoY+25.8%	40.3M YoY+23.2%
Free cash flow	105M YoY-18.5%	129M YoY+1.9%	127M YoY+123.4%	56.8M YoY+297.2%	-28.8M YoY-124.6%
Acquisitions	182M YoY+5264.7%	3.40M YoY-98.2%	186M	0.00	0.00
Other investing activities	-3.60M	0.00 YoY+100.0%	-3.30M	0.00 YoY+100.0%	-1.90M YoY-111.1%
	73.1M YoY+164.3%	-114M YoY-281.2%	62.7M YoY+288.3%	-33.3M YoY-184.9%	39.2M YoY+127.0%
Long-term debt issued	830M YoY+100.1%	415M YoY+24.7%	333M YoY-11.2%	374M YoY+6.4%	352M YoY+975.8%
Long-term debt repaid	0.00	0.00	0.00	0.00	0.00
Common stock issued	0.00	0.00	0.00	0.00	0.00
Common stock repurchased	7.00M YoY-77.3%	30.9M YoY+74.6%	17.7M YoY+96.7%	9.00M	0.00
Dividends paid	0.00	0.00	0.00	0.00	0.00
Other financing activities	3.20M YoY+255.6%	900K YoY-64.0%	2.50M YoY+4.2%	2.40M YoY+442.9%	-700K YoY-123.3%
FX effect on cash	—	—	—	—	-400K YoY-128.6%
Net change in cash	1.80M YoY-84.5%	11.6M YoY+268.1%	-6.90M YoY-131.7%	21.8M YoY+3214.3%	-700K YoY+97.2%
Interest paid	30.2M YoY+16.2%	26.0M YoY+11.6%	23.3M YoY+26.6%	18.4M YoY+30.5%	14.1M YoY-21.2%
Income taxes paid	75.8M YoY+40.6%	53.9M YoY+19.5%	45.1M YoY+41.4%	31.9M YoY+46.3%	21.8M YoY+10.7%
Valuation Ratios	as ofMar 31 ’26	as ofMar 31 ’25	as ofMar 31 ’24	as ofMar 31 ’23	as ofMar 31 ’22
Market cap	11.4B YoY+184.6%	4.02B YoY-19.1%	4.97B YoY+314.1%	1.20B YoY+156.3%	468M YoY-38.6%
P/E	94.2× YoY+331.1%	21.9× YoY-0.8%	22.0× YoY+181.0%	7.8× YoY+42.6%	5.5×
P/S	3.6× YoY+131.2%	1.6× YoY-24.1%	2.1× YoY+292.8%	0.5× YoY+128.7%	0.2× YoY-45.8%
P/B	9.6× YoY+116.9%	4.4× YoY-35.3%	6.8× YoY+237.5%	2.0× YoY+94.9%	1.0× YoY-52.5%
P/FCF	108.6× YoY+249.2%	31.1× YoY-2.8%	32.0× YoY+51.5%	21.1×	—
	1.1% YoY-76.8%	4.6% YoY+0.8%	4.5% YoY-64.4%	12.8% YoY-29.9%	18.2%
	0.92% YoY-71.4%	3.2% YoY+2.9%	3.1% YoY-34.0%	4.7%	—
Source filing	10-K	10-K	10-K	10-K	10-K

About this data

Source: MOD's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all MOD filings on SEC EDGAR → Not investment advice.