Modine Manufacturing Company (MOD) Balance Sheet
MOD balance sheet, FY2026
March 31, 2026 · U.S. dollars$2.67B assets = $1.47B liabilities + $1.20B equity
Both columns are drawn to the same scale: what MOD owns equals what it owes plus shareholders’ equity. Hover a block for its value.
MOD financial health
Descriptive bands, not a rating. Fiscal FY2026.
MOD balance sheet trends, FY2017–FY2026
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $1.45BFY2017 | $2.67BFY2026 | +7.0%/yr | |
| Total liabilities | $1.03BFY2017 | $1.47BFY2026 | +4.1%/yr | |
| Shareholders’ equity | $414.0MFY2017 | $1.19BFY2026 | +12.5%/yr | |
| Cash & short-term investments | $34.2MFY2017 | $73.5MFY2026 | +8.9%/yr | |
| Total debt | $510.9MFY2017 | $580.1MFY2026 | +1.4%/yr | |
| Net cash (debt) | −$476.7MFY2017 | −$506.6MFY2026 | −$29.9M | |
| Working capital | $97.9MFY2017 | $687.2MFY2026 | +$589.3M | |
| Book value per share | $8.26FY2017 | $22.12FY2026 | +11.6%/yr | |
| Current ratio | 1.21FY2017 | 1.94FY2026 | +0.73 | |
| Debt / equity | 1.23FY2017 | 0.49FY2026 | −0.75 | |
| Shares outstanding | 50.1MFY2017 | 54.0MFY2026 | +0.8%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
MOD assets
MOD liabilities and equity
MOD debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
MOD balance sheet
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $73.5M | $71.6M | $60.1M | $70.6M | $48.9M | $37.8M | $70.9M | $41.7M | $39.3M | $34.2M |
| Cash & equivalents | $73.5M | $71.6M | $60.1M | $67.1M | $45.2M | $37.8M | $70.9M | $41.7M | $39.3M | $34.2M |
| Short-term investments | — | — | — | $3.5M | $3.7M | — | $3.2M | $4.3M | $5.7M | $4.7M |
| Receivables | $731.0M | $478.9M | $422.9M | $398.0M | $367.5M | $267.9M | $292.5M | $338.6M | $342.4M | $295.2M |
| Inventory | $506.1M | $340.9M | $357.9M | $324.9M | $281.2M | $195.6M | $207.4M | $200.7M | $191.3M | $168.5M |
| Other current assets | $105.5M | $69.8M | $53.1M | $52.9M | $60.0M | $143.5M | $62.5M | $65.8M | $70.1M | $55.4M |
| Total current assets | $1.42B | $961.2M | $894.0M | $846.4M | $757.6M | $644.8M | $633.3M | $646.8M | $643.1M | $553.3M |
| Property, plant & equipment (net) | $520.9M | $390.5M | $441.7M | $314.5M | $315.4M | $269.9M | $448.0M | $484.7M | $504.3M | $459.0M |
| Goodwill & intangible assets | $489.1M | $380.6M | $419.2M | $246.7M | $258.4M | $271.3M | $272.4M | $284.7M | $303.7M | $299.2M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $3.8M | $3.6M | $3.3M |
| Other non-current assets | $248.5M | $185.3M | $96.6M | $158.3M | $95.6M | $90.7M | $182.4M | $118.0M | $118.7M | $134.7M |
| Total assets | $2.67B | $1.92B | $1.85B | $1.57B | $1.43B | $1.28B | $1.54B | $1.54B | $1.57B | $1.45B |
| Liabilities | ||||||||||
| Accounts payable | $464.8M | $290.8M | $283.4M | $332.8M | $325.8M | $233.9M | $227.4M | $280.9M | $277.9M | $230.3M |
| Short-term debt | $77.7M | $72.1M | $47.0M | $35.2M | $42.1M | $34.5M | $41.3M | $114.6M | $93.1M | $105.2M |
| Deferred revenue | $23.9M | $35.1M | $79.4M | $21.5M | $11.8M | $5.6M | $5.6M | $4.0M | — | — |
| Total current liabilities | $728.9M | $541.0M | $545.8M | $507.1M | $494.5M | $469.2M | $372.0M | $470.0M | $515.5M | $455.4M |
| Long-term debt | $384.9M | $296.7M | $399.9M | $329.3M | $348.4M | $311.2M | $452.0M | $335.1M | $386.3M | $405.7M |
| Other long-term liabilities | $358.0M | $161.7M | $150.3M | $129.9M | $126.0M | $140.2M | $218.5M | $144.7M | $173.1M | $167.2M |
| Total liabilities | $1.47B | $999.4M | $1.10B | $966.3M | $968.9M | $920.6M | $1.04B | $996.9M | $1.07B | $1.03B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $35.6M | $35.3M | $35.0M | $34.6M | $34.2M | $33.9M | $33.3M | $33.0M | $262.6M | $213.0M |
| Retained earnings (deficit) | $964.5M | $843.0M | $659.0M | $497.5M | $344.4M | $259.2M | $469.9M | $472.1M | $394.9M | $372.4M |
| Treasury stock | — | — | — | — | −$40.0M | −$38.2M | −$37.1M | −$31.4M | −$27.1M | −$25.4M |
| Accumulated other comprehensive income | −$37.1M | −$181.3M | −$163.4M | −$161.1M | −$149.5M | −$161.2M | −$223.3M | −$178.4M | −$140.3M | −$181.8M |
| Minority interest | $8.3M | $8.0M | $7.9M | $6.8M | $7.4M | $7.4M | $5.7M | $7.2M | $8.4M | $7.2M |
| Total shareholders' equity | $1.19B | $910.2M | $747.6M | $592.8M | $450.7M | $348.7M | $487.9M | $533.9M | $490.1M | $414.0M |
| Key figures | ||||||||||
| Total debt | $580.1M | $530.0M | $571.1M | $462.3M | $472.9M | $435.3M | $593.9M | $449.7M | $479.4M | $510.9M |
| Net cash (debt) | −$506.6M | −$458.4M | −$511.0M | −$391.7M | −$424.0M | −$397.5M | −$523.0M | −$408.0M | −$440.1M | −$476.7M |
| Working capital | $687.2M | $420.2M | $348.2M | $339.3M | $263.1M | $175.6M | $261.3M | $176.8M | $127.6M | $97.9M |
| Tangible book value | $705.4M | $529.6M | $328.4M | $346.1M | $192.3M | $77.4M | $215.5M | $249.2M | $186.4M | $114.8M |
| Book value per share | $22.12 | $16.89 | $14.00 | $11.23 | $8.58 | $6.80 | $9.60 | $10.41 | $9.63 | $8.26 |
| Shares outstanding | 54.0M | 53.9M | 53.4M | 52.8M | 52.5M | 51.3M | 50.8M | 51.3M | 50.9M | 50.1M |
| Current ratio | 1.94 | 1.78 | 1.64 | 1.67 | 1.53 | 1.37 | 1.70 | 1.38 | 1.25 | 1.21 |
| Quick ratio | 1.10 | 1.02 | 0.88 | 0.92 | 0.84 | 0.65 | 0.98 | 0.81 | 0.74 | 0.72 |
| Debt / equity | 0.49 | 0.58 | 0.76 | 0.78 | 1.05 | 1.25 | 1.22 | 0.84 | 0.98 | 1.23 |
| Equity / assets | 44.7% | 47.5% | 40.4% | 37.9% | 31.6% | 27.3% | 31.8% | 34.7% | 31.1% | 28.6% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $95.3M | $73.5M | $98.9M | $84.0M | $124.5M | $71.6M | $83.8M | $78.6M | $72.9M | $60.1M | $149.7M | $120.2M |
| Cash & equivalents | $95.3M | $73.5M | $98.9M | $84.0M | $124.5M | $71.6M | $83.8M | $78.6M | $72.9M | $60.1M | $149.7M | $120.2M |
| Receivables | $738.2M | $731.0M | $569.1M | $559.0M | $516.6M | $478.9M | $423.0M | $452.9M | $438.1M | $422.9M | $364.4M | $377.0M |
| Inventory | $609.0M | $506.1M | $542.9M | $528.8M | $434.8M | $340.9M | $336.7M | $366.5M | $350.0M | $357.9M | $341.3M | $321.5M |
| Other current assets | $84.4M | $105.5M | $92.8M | $80.1M | $79.5M | $69.8M | $62.1M | $54.6M | $52.8M | $53.1M | $62.8M | $79.3M |
| Total current assets | $1.53B | $1.42B | $1.30B | $1.25B | $1.16B | $961.2M | $905.6M | $952.6M | $913.8M | $894.0M | $918.2M | $898.0M |
| Property, plant & equipment (net) | $536.1M | $520.9M | $479.6M | $457.0M | $425.9M | $390.5M | $354.8M | $373.9M | $455.1M | $441.7M | $317.3M | $303.8M |
| Goodwill & intangible assets | $480.4M | $489.1M | $496.8M | $498.3M | $467.0M | $380.6M | $384.9M | $406.5M | $408.1M | $419.2M | $245.1M | $243.6M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $252.0M | $248.5M | $202.8M | $178.7M | $180.2M | $185.3M | $184.5M | $182.6M | $89.4M | $96.6M | $170.8M | $159.7M |
| Total assets | $2.80B | $2.67B | $2.48B | $2.39B | $2.23B | $1.92B | $1.83B | $1.92B | $1.87B | $1.85B | $1.65B | $1.61B |
| Liabilities | ||||||||||||
| Accounts payable | $508.9M | $464.8M | $390.3M | $395.8M | $340.0M | $290.8M | $244.0M | $295.1M | $274.3M | $283.4M | $255.3M | $274.9M |
| Short-term debt | $78.3M | $77.7M | $68.4M | $77.0M | $64.8M | $72.1M | $60.5M | $63.7M | $47.9M | $47.0M | $32.7M | $31.5M |
| Deferred revenue | — | $23.9M | $31.1M | $30.0M | $35.3M | $35.1M | $44.1M | $51.9M | $66.4M | $79.4M | $79.2M | $52.5M |
| Total current liabilities | $749.8M | $728.9M | $596.2M | $625.9M | $561.9M | $541.0M | $483.5M | $536.9M | $508.3M | $545.8M | $475.5M | $493.1M |
| Long-term debt | $476.2M | $384.9M | $570.7M | $525.8M | $482.1M | $296.7M | $330.0M | $359.1M | $405.7M | $399.9M | $313.5M | $322.9M |
| Other long-term liabilities | $359.6M | $358.0M | $186.2M | $173.1M | $165.8M | $161.7M | $153.1M | $152.2M | $156.1M | $150.3M | $127.2M | $115.1M |
| Total liabilities | $1.59B | $1.47B | $1.35B | $1.32B | $1.21B | $999.4M | $966.6M | $1.05B | $1.07B | $1.10B | $916.2M | $931.1M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $35.9M | $35.6M | $35.5M | $35.5M | $35.4M | $35.3M | $35.3M | $35.2M | $35.1M | $35.0M | $35.0M | $34.8M |
| Retained earnings (deficit) | $1.04B | $964.5M | $891.2M | $938.6M | $894.2M | $843.0M | $793.4M | $752.4M | $706.3M | $659.0M | $633.2M | $588.8M |
| Accumulated other comprehensive income | −$47.4M | −$37.1M | −$27.6M | −$137.7M | −$131.9M | −$181.3M | −$195.3M | −$147.8M | −$169.5M | −$163.4M | −$153.8M | −$173.7M |
| Minority interest | $8.3M | $8.3M | $8.0M | $7.6M | $7.2M | — | — | — | — | — | — | — |
| Total shareholders' equity | $1.20B | $1.19B | $1.12B | $1.05B | $1.01B | $910.2M | $855.1M | $858.8M | $788.4M | $747.6M | $727.4M | $667.0M |
| Key figures | ||||||||||||
| Total debt | $669.9M | $580.1M | $867.1M | $776.2M | $707.3M | $530.0M | $547.5M | $573.6M | $604.0M | $571.1M | $465.8M | $449.2M |
| Net cash (debt) | −$574.6M | −$506.6M | −$768.2M | −$692.2M | −$582.8M | −$458.4M | −$463.7M | −$495.0M | −$531.1M | −$511.0M | −$316.1M | −$329.0M |
| Working capital | $777.1M | $687.2M | $707.5M | $626.0M | $593.5M | $420.2M | $422.1M | $415.7M | $405.5M | $348.2M | $442.7M | $404.9M |
| Tangible book value | $721.1M | $705.4M | $625.0M | $555.2M | $544.5M | $529.6M | $470.2M | $452.3M | $380.3M | $328.4M | $482.3M | $423.4M |
| Book value per share | $22.25 | $22.12 | $21.25 | $19.58 | $18.84 | $16.88 | $15.85 | $15.93 | $14.63 | $13.90 | $13.67 | $12.49 |
| Shares outstanding | 54.0M | 54.0M | 52.8M | 53.8M | 53.7M | 53.9M | 53.9M | 53.9M | 53.9M | 53.8M | 53.2M | 53.4M |
| Current ratio | 2.04 | 1.94 | 2.19 | 2.00 | 2.06 | 1.78 | 1.87 | 1.77 | 1.80 | 1.64 | 1.93 | 1.82 |
| Quick ratio | 1.11 | 1.10 | 1.12 | 1.03 | 1.14 | 1.02 | 1.05 | 0.99 | 1.01 | 0.88 | 1.08 | 1.01 |
| Debt / equity | 0.56 | 0.49 | 0.77 | 0.74 | 0.70 | 0.58 | 0.64 | 0.67 | 0.77 | 0.76 | 0.64 | 0.67 |
| Equity / assets | 43.0% | 44.7% | 45.2% | 44.2% | 45.4% | 47.5% | 46.7% | 44.8% | 42.2% | 40.4% | 44.0% | 41.6% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed May 27, 2026); data from EODHD.
MOD financial position
At the end of fiscal 2026 (March 31, 2026), Modine Manufacturing had total assets of $2.7 billion (up 39.5% from a year earlier), total liabilities of $1.5 billion and shareholders' equity of $1.2 billion. It held $73.5 million in cash and short-term investments against $580.1 million of debt, net debt of $506.6 million. Its current ratio was 1.94. In the latest quarter (ended June 30, 2026) total assets were $2.8 billion and equity $1.2 billion.
Related: MOD income statement, MOD cash flow statement, MOD key metrics. See the MOD stock overview for the latest quote and news.
MOD balance sheet FAQ
What are Modine Manufacturing's total assets?
Modine Manufacturing reported total assets of $2.7 billion at the end of fiscal 2026 (March 31, 2026), compared with $1.9 billion a year earlier.
How much debt does Modine Manufacturing have?
Modine Manufacturing had $580.1 million of total debt at the end of fiscal 2026, including short-term borrowings. Its debt-to-equity ratio was 0.49.
How much cash does Modine Manufacturing have?
Modine Manufacturing held $73.5 million in cash and short-term investments at the end of fiscal 2026; with $580.1 million of debt that is net debt of $506.6 million.
What is Modine Manufacturing's book value?
Modine Manufacturing's shareholders' equity (book value) was $1.2 billion at the end of fiscal 2026, or $22.12 per share.
What is Modine Manufacturing's current ratio?
Modine Manufacturing had current assets of $1.4 billion and current liabilities of $728.9 million, a current ratio of 1.94 (it can cover its short-term obligations).
How much goodwill does Modine Manufacturing have?
Modine Manufacturing carried $489.1 million of goodwill and intangible assets, 18.3% of total assets, at the end of fiscal 2026.