MOD
Modine Manufacturing Company

Modine Manufacturing CompanyMOD

Consumer Cyclical · Auto Parts
96.61USD
+5.71%
Nov 08, 2026
MOD overview ready
Supplier of mission-critical thermal infrastructure for AI data centers
Modine is a direct supplier of mission-critical data-center thermal infrastructure through its Airedale business, including chillers, indoor cooling systems, liquid-cooling technologies, controls, coils, and associated service capabilities.
Primary theme is lagging
AI Infrastructure is lagging (-29.6pp vs SPY over 21 sessions; 0 of 16 members ahead of SPY).
Price trend is broken
Longer-term context reads damaged structure, with a near-term setup of distribution pressure.
The tactical setup reads distribution pressure, but the weekly structure is broken.
Fair valuation
The price broadly reflects how much growth and cash flow it delivers per turn of revenue multiple, with upside and risk reasonably….
Low free cash flow yield
Free cash flow yield is weak.
Primary risk
Exposure to cyclical automotive and industrial markets.
Market Nov 6Filing Sep 30Price action Nov 7Research Aug 6

Conviction Level

PriceAction3.4BusinessPerformance5.0BusinessQuality6.7Valuation3.5ThemeMomentum1.0Mixed — Revenue growth has accelerated, rising from +28% to +35% year over year. Diluted EPS fell 33% year over year to $0.56. — From filed financial statements. Describes the recent trajectory of the business, not the stock. 20 of the 100 Conviction points.

Conviction uses Price Action, Business Performance, Business Quality, Valuation. Theme Momentum is research context, not an input.

Theme momentumPrimary theme · group context, not entry timing
vs SPY
−29.6pp
Theme return
−34.5%
Beating SPY
0 of 16
21 sessions to Nov 6, 2026 · Theme Leadership V2
Price
Loading price history…

Price Action

Price trend is broken
Longer-term context reads damaged structure, with a near-term setup of distribution pressure.
The tactical setup reads distribution pressure, but the weekly structure is broken.
EntryWeak / unconfirmed recovery

The daily chart may be improving, but the weekly fast averages have not been reclaimed — the recovery is not yet confirmed on the higher timeframe.

Key Financials

Market Cap
$5.1B
Avg Volume (60D)
1.7M
60 sessions
Revenue Growth YoY
+23.1%
FY2026 vs FY2025
Gross Margin
+21.7%
Trailing twelve months
Operating Margin
+10.1%
Trailing twelve months
Free Cash Flow Yield
-0.2%
Distance from 200DMA
-55.1%
Next Earnings
2027-02-03
P/E
39.6x
EV / EBITDA
12.7x
EV / Sales
1.6x
Market metrics as of Nov 6, 2026
Financial results for the period ended Sep 30, 2026
Filed balance-sheet data as of Sep 30, 2026

Business Performance

Mixed

Revenue growth has accelerated, rising from +28% to +35% year over year. Diluted EPS fell 33% year over year to $0.56.

Latest reported: Q2 FY2027, ended Sep 30
Revenue growthAccelerating
+35%
$994M in Q2 FY2027 · YoY
YoY growth, last 4 quarters
  1. +31%
  2. +48%
  3. +28%
  4. +35%
Earnings growthDeclining
-33%
Diluted EPS $0.56 vs $0.83 a year earlier · GAAP
Diluted EPS YoY (GAAP), last 4 quarters
  1. n/a
  2. +48%
  3. +44%
  4. -33%
Operating marginStable
9.8%
-0.1 pp YoY · gross margin 20.7% (-1.7 pp)

Business Quality

6.7 / 10

How well the business earns on its assets, converts earnings to cash and funds itself — read from its SEC filings.

Fundamentals & Valuation

One of the two valuation perspectives says fair; own history is the dissenting view.
Modine Manufacturing Company has a Fair valuation stance because the price broadly reflects how much growth and cash flow it delivers per turn of revenue multiple, with upside and risk reasonably balanced.

Company Research

Thesis
Modine is a direct supplier of mission-critical data-center thermal infrastructure through its Airedale business, including chillers, indoor cooling systems, liquid-cooling technologies, controls, coils, and associated service capabilities.
Opportunity
High opportunity
Hyperscaler and colocation capital spending on high-density AI data-center electrical and liquid-cooling infrastructure.
Key risk
Exposure to cyclical automotive and industrial markets.

Economic classification

Loading the economic classification…

Business & Markets

Consumer Cyclical · Auto Parts
What they do

Modine Manufacturing Company designs, engineers, manufactures, and sells thermal management solutions globally, serving multiple industries through direct sales and service capabilities.

How it earns

Primarily transactional revenue from the sale of thermal products and related services.

Products & services
Heat transfer products
Unit heaters (gas-fired, hydronic, electric, oil-fired)
Makeup air units
Duct furnaces
Infrared units
Perimeter heating products
Packaged unit ventilators
Modular chillers
Air handler and condensing units
Ceiling cassettes
Evaporator unit coolers
Data center thermal infrastructure (chillers, indoor cooling systems, liquid-cooling technologies)
Customers & end markets
Automotive manufacturers and suppliers
Industrial and commercial HVAC customers
Data center operators including hyperscalers and colocation providers
Market position

Niche supplier with specialized thermal management solutions, particularly in data center cooling.

Demand drivers
Medium cyclicality

Demand tied to capital spending cycles in automotive and data center markets.