Modine Manufacturing Company (MOD) financial statements: income statement, balance sheet and cash flow
Modine Manufacturing Company's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Mar 31, 2026 · FY), Modine Manufacturing Company reported revenue of $3.2B (+23.1% year on year) and net income of $123.3M (-33.5% year on year).
Income statement
Modine Manufacturing Company income statement, fiscal years
Line item
Mar 31, 2026 · FY
Mar 31, 2025 · FY
Mar 31, 2024 · FY
Mar 31, 2023 · FY
Net sales
$3.2B
$2.6B
$2.4B
$2.3B
Cost of sales
$2.5B
$1.9B
$1.9B
$1.9B
Gross profit
$731.1M
$643.8M
$525.6M
$389.4M
Selling, general and administrative expenses
$360.1M
$332.1M
$273.9M
$234.0M
Restructuring expenses
$20.6M
$28.2M
$15.0M
$5.0M
Impairment charge
$4.1M
—
—
—
Loss (gain) on sale of assets
$3.9M
$0
($4.0M)
—
Operating income
$342.4M
$283.5M
$240.7M
$150.4M
Interest expense
($31.6M)
($26.4M)
($24.1M)
($20.7M)
Pension termination charge
($116.1M)
—
—
—
Other expense - net
($8.2M)
($3.1M)
($2.0M)
($4.4M)
Earnings before income taxes
$186.5M
$254.0M
$214.6M
$125.3M
Provision for income taxes
($63.2M)
($68.5M)
($51.2M)
$28.3M
Net earnings
$123.3M
$185.5M
$163.4M
$153.6M
Net earnings attributable to noncontrolling interest
($1.8M)
($1.5M)
($1.9M)
($500.0K)
Net earnings attributable to Modine
$121.5M
$184.0M
$161.5M
$153.1M
Basic (in dollars per share)
$2.30
$3.50
$3.08
$2.93
Diluted (in dollars per share)
$2.26
$3.42
$3.03
$2.90
Basic (in shares)
52.8M
52.6M
52.4M
52.3M
Diluted (in shares)
53.8M
53.9M
53.4M
52.8M
Modine Manufacturing Company income statement, quarters
Line item
Jun 30, 2026 · Q1
Dec 31, 2025 · Q3
Sep 30, 2025 · Q2
Jun 30, 2025 · Q1
Net sales
$874.1M
$805.0M
$738.9M
$682.8M
Cost of sales
$692.1M
$618.9M
$574.0M
$517.4M
Gross profit
$182.0M
$186.1M
$164.9M
$165.4M
Selling, general and administrative expenses
$103.3M
$89.3M
$84.2M
$84.9M
Restructuring expenses
$3.9M
$7.5M
$3.1M
$4.8M
Operating income
$74.8M
$89.3M
$73.5M
$75.7M
Interest expense
($6.4M)
($8.9M)
($8.3M)
($5.8M)
Other income (expense) - net
$200.0K
($2.8M)
($1.5M)
($4.2M)
Earnings before income taxes
$68.6M
($38.5M)
$63.7M
$65.7M
Benefit (provision) for income taxes
$5.7M
($8.3M)
($18.9M)
($14.0M)
Net earnings
$74.3M
($46.8M)
$44.8M
$51.7M
Net earnings attributable to noncontrolling interest
($400.0K)
($600.0K)
($400.0K)
($500.0K)
Net earnings attributable to Modine
$73.9M
($47.4M)
$44.4M
$51.2M
Basic (in dollars per share)
$1.39
-$0.90
$0.84
$0.97
Diluted (in dollars per share)
$1.37
-$0.90
$0.83
$0.95
Basic (in shares)
53.3M
52.8M
52.7M
52.6M
Diluted (in shares)
54.0M
52.8M
53.8M
53.7M
Balance sheet
Modine Manufacturing Company balance sheet, fiscal years
Line item
Mar 31, 2026 · FY
Mar 31, 2025 · FY
Mar 31, 2024 · FY
Mar 31, 2023 · FY
Cash and cash equivalents
$73.5M
$71.6M
$60.1M
$67.1M
Trade accounts receivable - net
$731.0M
$478.9M
$422.9M
$398.0M
Inventories
$506.1M
$340.9M
$357.9M
$324.9M
Other current assets
$105.5M
$69.8M
$53.1M
$56.4M
Total current assets
$1.4B
$961.2M
$894.0M
$846.4M
Property, plant and equipment - net
$520.9M
$390.5M
$365.7M
$314.5M
Intangible assets - net
$197.0M
$146.7M
$188.3M
$81.1M
Goodwill
$292.1M
$233.9M
$230.9M
$165.6M
Deferred income taxes
$85.3M
$67.0M
$75.1M
$83.7M
Other noncurrent assets
$163.2M
$118.3M
$97.5M
$74.6M
Total assets
$2.7B
$1.9B
$1.9B
$1.6B
Short-term debt
$7.5M
$9.3M
$12.0M
$3.7M
Long-term debt - current portion
$43.9M
$44.8M
$19.7M
$19.7M
Accounts payable
$464.8M
$290.8M
$283.4M
$332.8M
Accrued compensation and employee benefits
$95.1M
$102.7M
$101.6M
$89.8M
Other current liabilities
$117.6M
$93.4M
$129.1M
$61.1M
Total current liabilities
$728.9M
$541.0M
$545.8M
$507.1M
Long-term debt
$384.9M
$296.7M
$399.9M
$329.3M
Deferred income taxes
$25.6M
$24.1M
$30.0M
$4.8M
Pensions
$11.4M
$29.4M
$27.7M
$40.2M
Other noncurrent liabilities
$321.0M
$108.2M
$92.6M
$84.9M
Total liabilities
$1.5B
$999.4M
$1.1B
$966.3M
Common stock, $0.625 par value, authorized 80.0 million shares, issued 57.0 million and 56.5 million shares
35.6M
35.3M
35.0M
34.6M
Additional paid-in capital
$336.1M
$310.8M
$283.7M
$270.8M
Retained earnings
$964.5M
$843.0M
$659.0M
$497.5M
Accumulated other comprehensive loss
($37.1M)
($181.3M)
($163.4M)
($161.1M)
Treasury stock, at cost, 4.2 million and 4.1 million shares
-104.6M
-97.6M
-66.7M
-49.0M
Total Modine shareholders' equity
$1.2B
$910.2M
$747.6M
$592.8M
Noncontrolling interest
$8.3M
$8.0M
$7.9M
$6.8M
Total equity
$1.2B
$918.2M
$755.5M
$599.6M
Total liabilities and equity
$2.7B
$1.9B
$1.9B
$1.6B
Modine Manufacturing Company balance sheet, quarters
Line item
Jun 30, 2026
Dec 31, 2025
Sep 30, 2025
Jun 30, 2025
Cash and cash equivalents
$95.3M
$98.7M
$83.8M
$124.5M
Trade accounts receivable - net
$659.9M
$569.1M
$559.0M
$516.6M
Inventories
$609.0M
$542.9M
$528.8M
$434.8M
Other current assets
$162.7M
$93.0M
$80.3M
$79.5M
Total current assets
$1.5B
$1.3B
$1.3B
$1.2B
Property, plant and equipment - net
$536.1M
$479.6M
$457.0M
$425.9M
Intangible assets - net
$190.2M
$203.4M
$207.6M
$198.8M
Goodwill
$290.2M
$293.4M
$290.7M
$268.2M
Deferred income taxes
$88.7M
$43.6M
$48.5M
$59.1M
Other noncurrent assets
$163.3M
$159.2M
$130.2M
$121.1M
Total assets
$2.8B
$2.5B
$2.4B
$2.2B
Short-term debt
$8.1M
$1.2M
$12.4M
$0
Long-term debt - current portion
$43.9M
$43.9M
$43.9M
$45.0M
Accounts payable
$508.9M
$390.3M
$395.8M
$340.0M
Accrued compensation and employee benefits
$84.1M
$86.5M
$86.6M
$78.2M
Other current liabilities
$104.8M
$74.3M
$87.2M
$98.7M
Total current liabilities
$749.8M
$596.2M
$625.9M
$561.9M
Long-term debt
$476.2M
$570.7M
$525.8M
$482.1M
Deferred income taxes
$24.8M
$23.3M
$23.6M
$24.8M
Other noncurrent liabilities
$334.8M
$151.1M
$119.5M
$110.8M
Total liabilities
$1.6B
$1.4B
$1.3B
$1.2B
Common stock, $0.625 par value, authorized 80.0 million shares, issued 57.5 million and 57.0 million shares
35.9M
35.5M
35.5M
35.4M
Additional paid-in capital
$343.8M
$327.1M
$320.4M
$316.5M
Retained earnings
$1.0B
$891.2M
$938.6M
$894.2M
Accumulated other comprehensive loss
($47.4M)
($27.6M)
($137.7M)
($131.9M)
Treasury stock, at cost, 4.4 million and 4.2 million shares
-169.2M
-104.4M
-103.3M
-102.7M
Total Modine shareholders' equity
$1.2B
$1.1B
$1.1B
$1.0B
Noncontrolling interest
$8.3M
$8.0M
$7.6M
$7.2M
Total equity
$1.2B
$1.1B
$1.1B
$1.0B
Total liabilities and equity
$2.8B
$2.5B
$2.4B
$2.2B
Cash flow statement
Modine Manufacturing Company cash flow statement, fiscal years
Line item
Mar 31, 2026 · FY
Mar 31, 2025 · FY
Mar 31, 2024 · FY
Mar 31, 2023 · FY
Net earnings
$123.3M
$185.5M
$163.4M
$153.6M
Depreciation and amortization
$79.7M
$77.7M
$56.1M
$54.5M
Impairment charge
$4.1M
—
—
—
Loss (gain) on sale of assets
$3.9M
$0
($4.0M)
—
Pension termination charge
$116.1M
—
—
—
Stock-based compensation expense
$22.1M
$26.4M
$10.8M
$6.6M
Deferred income taxes
($39.1M)
$6.5M
$6.2M
($59.6M)
Other - net
$7.0M
$6.9M
$6.1M
$4.8M
Trade accounts receivable
($222.6M)
($61.2M)
($8.3M)
($40.7M)
Inventories
($125.1M)
$13.6M
($17.3M)
($49.4M)
Accounts payable
$151.1M
$10.5M
($59.1M)
$10.2M
Accrued compensation and employee benefits
($13.5M)
$1.6M
$15.2M
$6.4M
Increase (decrease) in contract liabilities
$159.0M
($44.5M)
—
—
Other assets
($2.9M)
$15.3M
$12.0M
$19.6M
Other liabilities
($14.4M)
($25.0M)
$33.5M
$1.5M
Net cash provided by operating activities
$248.7M
$213.3M
$214.6M
$107.5M
Expenditures for property, plant and equipment
($143.3M)
($84.0M)
($87.7M)
($50.7M)
Payments for business acquisitions, net of cash acquired
($182.4M)
($3.4M)
($186.2M)
—
Purchase of TMGcore, Inc. technology and related assets (see Note 2)
$0
$0
($12.0M)
—
Proceeds from (payments for) disposition of assets
$800.0K
$800.0K
($800.0K)
$300.0K
Other - net
$3.6M
$0
$0
$0
Net cash used for investing activities
($321.3M)
($86.6M)
($283.4M)
($50.4M)
Borrowings of debt
$829.6M
$414.5M
$332.5M
$374.3M
Repayments of debt
($745.9M)
($496.3M)
($260.4M)
($403.4M)
(Repayments) borrowings on bank overdrafts - net
($5.0M)
($700.0K)
$6.3M
$3.0M
Purchases of treasury stock
($7.0M)
($30.9M)
($13.3M)
($7.3M)
Dividends paid to noncontrolling interest
($1.8M)
($1.1M)
($500.0K)
($600.0K)
Other - net
$3.2M
$900.0K
($1.9M)
$1.3M
Net cash provided by (used for) financing activities
$73.1M
($113.6M)
$62.7M
($33.3M)
Effect of exchange rate changes on cash
$1.3M
($1.5M)
($800.0K)
($2.0M)
Net increase (decrease) in cash, cash equivalents and restricted cash
$1.8M
$11.6M
($6.9M)
$21.8M
Cash, cash equivalents and restricted cash - beginning of period
$71.9M
$60.3M
$67.2M
$45.4M
Cash, cash equivalents and restricted cash - end of period
$73.7M
$71.9M
$60.3M
—
Modine Manufacturing Company cash flow statement, quarters
Line item
Jun 30, 2026 · Q1
Dec 31, 2025 · YTD
Sep 30, 2025 · YTD
Jun 30, 2025 · Q1
Net earnings
$74.3M
$49.7M
$96.5M
$51.7M
Depreciation and amortization
$20.7M
$59.1M
$38.7M
$19.0M
Stock-based compensation expense
$8.0M
$14.1M
$7.4M
$5.3M
Deferred income taxes
($3.8M)
$100.0K
$10.4M
$700.0K
Other - net
$1.1M
$6.3M
$4.8M
$2.6M
Trade accounts receivable
$68.3M
($56.4M)
($48.2M)
($10.6M)
Inventories
($105.4M)
($161.3M)
($147.1M)
($61.6M)
Accounts payable
$58.0M
$93.8M
$96.7M
$46.7M
Other assets and liabilities
($79.8M)
($71.8M)
($34.2M)
($26.1M)
Net cash provided by operating activities
$41.4M
$53.8M
$29.1M
$27.7M
Expenditures for property, plant and equipment
($46.4M)
($101.2M)
($59.4M)
($27.5M)
Net cash used for investing activities
($46.4M)
($280.1M)
($238.3M)
($144.0M)
Borrowings of debt
$372.0M
$700.5M
$499.6M
$265.0M
Repayments of debt
($283.4M)
($433.4M)
($277.2M)
($83.2M)
Borrowings (repayments) on bank overdraft facilities - net
$3.3M
($8.8M)
$2.2M
($9.8M)
Purchases of treasury stock
($64.6M)
($6.8M)
($5.7M)
($5.1M)
Other - net
($200.0K)
$3.5M
$3.2M
$2.5M
Net cash provided by financing activities
$27.1M
$251.6M
$219.5M
$166.9M
Effect of exchange rate changes on cash
($300.0K)
$1.7M
$1.8M
$2.2M
Net increase in cash, cash equivalents and restricted cash
$21.8M
$27.0M
$12.1M
$52.8M
Cash, cash equivalents and restricted cash - beginning of period
$73.7M
$71.9M
$71.9M
$71.9M
Cash, cash equivalents and restricted cash - end of period