Modine
Thermal-management systems for data centers, commercial HVAC, vehicles, and heavy equipment.
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Profile
Designs and manufactures cooling and heating systems for data centers, commercial HVAC and refrigeration, vehicles, heavy equipment, and stationary power customers worldwide. Data Centers is now the largest product group, while Performance Technologies remains part of the business pending its planned combination with Gentherm.
Designs and manufactures thermal-management systems across Data Centers, Commercial HVAC, and Performance Technologies. Data Centers supplies chillers, dry coolers, precision air-handling and liquid-cooling equipment, controls, parts, and service to hyperscale, colocation, neocloud, and edge operators across North America, EMEA, and Asia-Pacific. Commercial HVAC sells heat exchangers, refrigeration equipment, unit heaters, air-handling systems, and dehumidifiers to OEMs, distributors, contractors, schools, healthcare facilities, and industrial customers.
Uses application engineering, testing, validation, and a global manufacturing footprint to tailor cooling and heating systems to customer projects. Performance Technologies makes heat exchangers and cooling modules for commercial vehicles, off-highway equipment, and stationary power. A planned spin-off and merger of that segment with Gentherm remains pending and subject to Gentherm shareholder and regulatory approvals.
Company facts
Categories
Key statistics
Year to date +26.2% · Average volume (30d) 1.5M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 3, 2026 | Roth Capital | Target | $341 | $302 | |
| Jul 30, 2026 | B.Riley Financial | Target | $125 | $305 | |
| Jun 1, 2026 | GLJ Research | Target | $428 | ||
| Jun 1, 2026 | Roth Capital | Target | $263 | $341 | |
| May 29, 2026 | DA Davidson | Reiterate | Buy | $265 | $330 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 28, 2026Q1 FY27 | $1.30 | $1.53 | +17.7% | $878.7M | $874.1M | −0.5% | −14.43% |
| May 26, 2026Q4 FY26 | $1.55 | $1.71 | +10.3% | $920.7M | $954.4M | +3.7% | −5.39% |
| Feb 4, 2026Q3 FY26 | $0.99 | $1.19 | +20.2% | $760.4M | $805.0M | +5.9% | +2.90% |
| Oct 28, 2025Q2 FY26 | $0.97 | $1.06 | +9.3% | $763.5M | $738.9M | −3.2% | −4.17% |
Financial highlights
| 12 quarters | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | |
|---|---|---|---|---|---|---|---|
| Revenue | $647.2M | $682.8M | $738.9M | $805.0M | $954.4M | $874.1M | |
| Gross profit | $167.6M | $165.4M | $164.9M | $186.1M | $214.7M | $182.0M | |
| Operating income | $74.5M | $75.7M | $73.5M | $96.8M | $103.9M | $74.8M | |
| Net income | $49.6M | $51.2M | $44.4M | −$47.4M | $73.6M | $73.9M | |
| Diluted EPS | $0.92 | $0.95 | $0.83 | −$0.90 | $1.36 | $1.37 | |
| Gross margin | 25.9% | 24.2% | 22.3% | 23.1% | 22.5% | 20.8% | |
| Operating margin | 11.5% | 11.1% | 9.9% | 12.0% | 10.9% | 8.6% |
Fiscal years (4-quarter sums)FY22 $2.05B · FY23 $2.30B · FY24 $2.41B · FY25 $2.58B · FY26 $3.18B
Revenue by product · Q3 FY26
Revenue by geography · Q1 FY27
Balance sheet, Jun 30, 2026Cash & short-term investments $95.3M · Total debt $669.9M · Total assets $2.80B · Shareholders' equity $1.20B
Dividends
No dividends on record.
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 53.11M · Float 52.00M · 97.9% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 2.87M | 5.40% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 2.38M | 4.48% | 13F | Aug 13, 2026 |
| Vanguard Portfolio Management LLC | 2.20M | 4.15% | 13F | Aug 13, 2026 |
| Capital Research Global Investors | 1.48M | 2.79% | 13F | Aug 12, 2026 |
| Paradigm Capital Management Inc/NY | 1.45M | 2.74% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jun 18, 2026 | Eric S. McGinnis | officer: President, Commercial HVAC | −1,020 | $295.07 |
| Jun 18, 2026 | Brian Jon Agen | officer: VP, CHRO | −38,282 | $295.17 |
| Jun 16, 2026 | Eric D. Ashleman | director | −15,000 | $288.54 |
| Jun 1, 2026 | Arthur Jr. Laszlo | officer: President, Data Centers | −900 | $295.76 |
| Jun 1, 2026 | Eric S. McGinnis | officer: President, Commercial HVAC | −24,002 | $287.89 |
Peers
- Vertiv
Scale leader in data-center precision cooling, CDUs, and power infrastructure.
- Johnson Controls
Full-stack data-center thermal plus HVAC intelligence from chip to chiller.
- Trane Technologies
Largest applied-chiller HVAC maker with surging data-center bookings.
- Carrier Global
Global commercial HVAC&R leader with growing data-center thermal portfolio.
- nVent Electric
Liquid-cooling CDU specialist: 1 GW+ deployed, $1B DC revenue in 2025.
- AAON
Custom commercial HVAC maker with fast-growing BASX data-center cooling arm.
- Gentherm
Automotive thermal comfort specialist; RMT counterparty for Modine PT segment.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Modine | $179.77 | +1.19% | $9.43B | 66.8 | 21.5 | 2.8 | +28.0% |
| Vertiv | $259.11 | +0.86% | $98.97B | 58.2 | 32.8 | 8.6 | +24.1% |
| Johnson Controls | $139.59 | +0.01% | $84.56B | 24.3 | 24.2 | 3.4 | +9.3% |
| Trane Technologies | $445.75 | −0.75% | $98.78B | 34.0 | 27.3 | 4.4 | +10.6% |
| Carrier Global | $58.46 | −0.55% | $48.46B | 40.8 | 19.2 | 2.2 | +3.9% |
| nVent Electric | $148.53 | +0.01% | $24.01B | 40.7 | 25.6 | 5.0 | +52.8% |
| AAON | $76.50 | +0.80% | $6.21B | 39.7 | 27.7 | 3.2 | +101.2% |
| Gentherm | $39.55 | +0.04% | $1.21B | 45.6 | 13.4 | 0.8 | +11.0% |
| Median | 40.7 | 25.6 | 3.4 | +11.0% |