Modine Manufacturing Company (MOD) Key Metrics
MOD valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $7.91B
- Enterprise value
- $10.69B
- P/E (TTM)
- 56.0 10-yr median 27.0
- Forward P/E
- 26.0
- PEG ratio
- 0.65
- Price / sales
- 2.3 10-yr median 0.5
- Price / book
- 8.5 10-yr median 2.1
- EV / EBITDA
- 34.6 10-yr median 8.2
- Dividend yield
- —
- Beta
- 1.71
MOD key metrics, FY2017–FY2026
Fiscal year ended March 31, 2026 · U.S. dollarsMOD valuation Price multiples at each fiscal year-end price.
MOD returns How much profit the business earns on the capital it uses.
MOD per-share figures Results divided by the shares outstanding at year-end.
MOD financial health Debt, liquidity and how easily interest is covered.
MOD efficiency & capital use Working capital cycle and where the cash goes.
MOD valuation history
MOD returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
MOD debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
MOD cash returned to shareholders
MOD price vs earnings per share
MOD key metrics
FY2017–FY2026| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $11.70B | $4.14B | $5.08B | $1.22B | $473.0M | $757.7M | $165.1M | $711.5M | $1.08B | $611.2M |
| Enterprise value | $12.21B | $4.60B | $5.59B | $1.61B | $897.0M | $1.16B | $688.1M | $1.12B | $1.52B | $1.09B |
| P/E ratio | 96.1 | 22.5 | 31.5 | 7.9 | 5.6 | — | — | 8.4 | 48.5 | 43.0 |
| Price / sales | 3.7 | 1.6 | 2.1 | 0.5 | 0.2 | 0.4 | 0.1 | 0.3 | 0.5 | 0.4 |
| Price / book | 9.8 | 4.5 | 6.8 | 2.1 | 1.0 | 2.2 | 0.3 | 1.3 | 2.2 | 1.5 |
| Price / free cash flow | 111.0 | 32.0 | 40.1 | 21.4 | — | 6.5 | — | 24.2 | 20.4 | — |
| Price / operating cash flow | 47.1 | 19.4 | 23.7 | 11.3 | 41.1 | 5.1 | 2.9 | 6.9 | 8.7 | 14.7 |
| EV / sales | 3.8 | 1.8 | 2.3 | 0.7 | 0.4 | 0.6 | 0.3 | 0.5 | 0.7 | 0.7 |
| EV / EBITDA | 41.0 | 12.8 | 19.0 | 7.7 | 5.2 | — | 6.2 | 5.7 | 8.2 | 11.3 |
| EV / free cash flow | 115.8 | 35.5 | 44.1 | 28.3 | — | 9.9 | — | 38.1 | 28.7 | — |
| Earnings yield | 1.0% | 4.4% | 3.2% | 12.6% | 18.0% | −27.8% | −1.3% | 11.9% | 2.1% | 2.3% |
| Free cash flow yield | 0.9% | 3.1% | 2.5% | 4.7% | −6.1% | 15.5% | −8.1% | 4.1% | 4.9% | −3.9% |
| Dividend yield | — | — | — | 0.0% | 0.2% | — | 0.8% | 0.3% | 0.1% | 0.0% |
| Shareholder yield (dividends + buybacks) | 0.1% | 0.7% | 0.3% | 0.8% | 0.4% | 0.0% | 2.2% | 0.3% | 0.1% | 0.0% |
| Share price at fiscal year-end | $216.71 | $76.75 | $95.19 | $23.05 | $9.01 | $14.77 | $3.25 | $13.87 | $21.15 | $12.20 |
| Per share | ||||||||||
| Revenue per share | $58.91 | $47.93 | $45.09 | $43.52 | $39.05 | $35.25 | $38.89 | $43.13 | $41.32 | $30.00 |
| Earnings per share | $2.26 | $3.41 | $3.02 | $2.90 | $1.62 | −$4.11 | −$0.04 | $1.65 | $0.44 | $0.28 |
| Operating cash flow per share | $4.61 | $3.96 | $4.02 | $2.04 | $0.22 | $2.92 | $1.14 | $2.01 | $2.43 | $0.83 |
| Free cash flow per share | $1.95 | $2.40 | $2.38 | $1.08 | −$0.55 | $2.28 | −$0.26 | $0.57 | $1.04 | −$0.48 |
| Cash per share | $1.36 | $1.33 | $1.13 | $1.34 | $0.93 | $0.74 | $1.40 | $0.81 | $0.77 | $0.68 |
| Book value per share | $22.12 | $16.89 | $14.00 | $11.23 | $8.58 | $6.80 | $9.60 | $10.41 | $9.63 | $8.26 |
| Tangible book value per share | $13.06 | $9.83 | $6.15 | $6.55 | $3.66 | $1.51 | $4.24 | $4.86 | $3.66 | $2.29 |
| Dividends per share | — | — | — | $0.01 | $0.02 | — | $0.03 | $0.04 | $0.02 | $0.00 |
| Capex per share | $2.65 | $1.56 | $1.64 | $0.96 | $0.77 | $0.64 | $1.40 | $1.44 | $1.39 | $1.31 |
| Debt per share | $10.74 | $9.83 | $10.69 | $8.76 | $9.01 | $8.49 | $11.69 | $8.77 | $9.42 | $10.20 |
| Shares outstanding | 54.0M | 53.9M | 53.4M | 52.8M | 52.5M | 51.3M | 50.8M | 51.3M | 50.9M | 50.1M |
| Change in shares outstanding | +0.2% | +0.9% | +1.1% | +0.6% | +2.3% | +1.0% | −1.0% | +0.8% | +1.6% | +5.7% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 11.6% | 22.2% | 24.1% | 29.3% | 21.3% | −50.4% | −0.4% | 16.6% | 4.9% | 3.6% |
| Return on invested capital (ROIC) | 15.1% | 15.8% | 16.3% | 16.2% | 12.5% | −8.8% | 1.9% | 11.7% | 5.1% | 4.5% |
| Return on assets (ROA) | 5.3% | 9.8% | 9.5% | 10.2% | 6.3% | −15.0% | −0.1% | 5.5% | 1.5% | 1.2% |
| Return on tangible assets | 5.6% | 12.0% | 11.3% | 11.6% | 7.3% | −21.0% | −0.2% | 6.8% | 1.7% | 1.2% |
| Free cash flow margin | 3.3% | 5.0% | 5.3% | 2.5% | −1.4% | 6.5% | −0.7% | 1.3% | 2.5% | −1.6% |
| Income quality (OCF / net income) | 2.04 | 1.16 | 1.33 | 0.70 | 0.13 | — | — | 1.22 | 5.58 | 2.93 |
| Financial health | ||||||||||
| Total debt | $580.1M | $530.0M | $571.1M | $462.3M | $472.9M | $435.3M | $593.9M | $449.7M | $479.4M | $510.9M |
| Cash & short-term investments | $73.5M | $71.6M | $60.1M | $70.6M | $48.9M | $37.8M | $70.9M | $41.7M | $39.3M | $34.2M |
| Net debt | $506.6M | $458.4M | $511.0M | $391.7M | $424.0M | $397.5M | $523.0M | $408.0M | $440.1M | $476.7M |
| Debt / equity | 0.49 | 0.58 | 0.76 | 0.78 | 1.05 | 1.25 | 1.22 | 0.84 | 0.98 | 1.23 |
| Debt / assets | 0.22 | 0.28 | 0.31 | 0.30 | 0.33 | 0.34 | 0.39 | 0.29 | 0.30 | 0.35 |
| Net debt / EBITDA | 1.70 | 1.28 | 1.73 | 1.88 | 2.47 | — | 4.75 | 2.08 | 2.39 | 4.95 |
| Current ratio | 1.94 | 1.78 | 1.64 | 1.67 | 1.53 | 1.37 | 1.70 | 1.38 | 1.25 | 1.21 |
| Quick ratio | 1.25 | 1.15 | 0.98 | 1.03 | 0.96 | 0.96 | 1.14 | 0.95 | 0.88 | 0.84 |
| Interest coverage | 11.1 | 10.7 | 10.0 | 7.3 | 7.6 | -5.0 | 1.7 | 4.4 | 3.6 | 2.5 |
| Working capital | $687.2M | $420.2M | $348.2M | $339.3M | $263.1M | $175.6M | $261.3M | $176.8M | $127.6M | $97.9M |
| Invested capital | $1.70B | $1.37B | $1.26B | $984.5M | $874.7M | $746.2M | $1.01B | $941.9M | $930.2M | $890.7M |
| Tangible asset value | $713.7M | $537.6M | $336.3M | $352.9M | $199.7M | $84.8M | $221.2M | $256.4M | $194.8M | $122.0M |
| Net current asset value | −$55.7M | −$38.2M | −$202.0M | −$119.9M | −$211.3M | −$275.8M | −$409.2M | −$350.1M | −$431.8M | −$475.0M |
| Graham number | $33.51 | $36.01 | $30.87 | $27.06 | $17.70 | — | — | $19.67 | $9.72 | $7.26 |
| Graham net-net per share | −$11.06 | −$7.39 | −$10.11 | −$8.23 | −$9.60 | −$11.39 | −$12.77 | −$11.71 | −$13.42 | −$13.74 |
| Capital allocation | ||||||||||
| Dividends paid | — | — | — | $600,000 | $900,000 | — | $1.3M | $1.8M | $900,000 | $0 |
| Share buybacks (net) | $7.0M | $30.9M | $13.3M | $9.0M | $1.1M | $0 | $2.4M | $600,000 | $0 | $0 |
| Dividend payout ratio | — | — | — | 0.4% | 1.1% | — | — | 2.1% | 4.1% | 0.0% |
| Dividends + buybacks / free cash flow | 6.6% | 23.9% | 10.5% | 16.9% | — | 0.0% | — | 8.2% | 1.7% | — |
| Capex / revenue | 4.5% | 3.3% | 3.6% | 2.2% | 2.0% | 1.8% | 3.6% | 3.3% | 3.4% | 4.4% |
| Capex / operating cash flow | 57.6% | 39.4% | 40.9% | 47.2% | 350.4% | 21.8% | 123.1% | 71.5% | 57.4% | 157.2% |
| Capex / depreciation | 1.80 | 1.08 | 1.56 | 0.93 | 0.74 | 0.48 | 0.92 | 0.96 | 0.93 | 1.12 |
| Stock-based compensation / revenue | 0.7% | 1.0% | 0.4% | 0.3% | 0.3% | 0.3% | 0.3% | 0.4% | 0.5% | 0.5% |
| R&D / revenue | — | 1.4% | 1.7% | 1.9% | 2.5% | 2.6% | 3.0% | 3.2% | 3.1% | 4.3% |
| SG&A / revenue | 11.3% | 12.9% | 11.4% | 10.2% | 10.5% | 11.7% | 12.6% | 11.0% | 11.7% | 13.6% |
| Efficiency | ||||||||||
| Days sales outstanding | 69.4 | 63.7 | 62.2 | 60.8 | 56.6 | 56.6 | 58.3 | 56.2 | 55.3 | 58.8 |
| Days of inventory on hand | 63.1 | 65.8 | 66.3 | 58.0 | 50.0 | 48.5 | 44.7 | 38.7 | 37.6 | 41.0 |
| Days payables outstanding | 56.3 | 54.1 | 59.8 | 63.0 | 58.7 | 55.6 | 55.6 | 55.2 | 53.1 | 54.7 |
| Cash conversion cycle (days) | 76.2 | 75.4 | 68.7 | 55.8 | 47.9 | 49.5 | 47.3 | 39.7 | 39.8 | 45.1 |
| Receivables turnover | 5.26 | 5.73 | 5.87 | 6.00 | 6.45 | 6.45 | 6.26 | 6.50 | 6.60 | 6.21 |
| Payables turnover | 6.48 | 6.75 | 6.10 | 5.80 | 6.22 | 6.57 | 6.56 | 6.61 | 6.87 | 6.68 |
| Inventory turnover | 5.79 | 5.55 | 5.51 | 6.30 | 7.30 | 7.52 | 8.17 | 9.42 | 9.71 | 8.90 |
| Asset turnover | 1.39 | 1.37 | 1.41 | 1.54 | 1.52 | 1.29 | 1.29 | 1.42 | 1.39 | 1.27 |
| Average receivables | $605.0M | $450.9M | $410.4M | $382.8M | $317.7M | $280.2M | $315.6M | $340.5M | $318.8M | $242.2M |
| Average payables | $377.8M | $287.1M | $308.1M | $329.3M | $279.9M | $230.7M | $254.2M | $279.4M | $254.1M | $186.3M |
| Average inventory | $423.5M | $349.4M | $341.4M | $303.1M | $238.4M | $201.5M | $204.1M | $196.0M | $179.9M | $139.8M |
| Intangibles / total assets | 18.3% | 19.8% | 22.6% | 15.8% | 18.1% | 21.3% | 17.7% | 18.5% | 19.3% | 20.6% |
Computed from MOD's annual financial statements (latest annual report filed May 27, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
MOD valuation and financial ratios
At the end of fiscal 2026 (March 31, 2026), Modine Manufacturing traded at 96.1 times earnings, against a 10-year median of 27.0. Based on the latest twelve months, the trailing P/E is 56.0 and the forward P/E is 26.0. Modine Manufacturing earned a return on equity of 11.6% and a return on invested capital of 15.1% in fiscal 2026. It ended the year with $580.1 million of debt and $73.5 million in cash and short-term investments, net debt of $506.6 million. It returned $7.0 million to shareholders: $0 in dividends and $7.0 million in share buybacks, 7% of free cash flow. The share count rose 7.8% from 50.1M to 54.0M over 9 years.
See the MOD income statement, the MOD chart for price history, or the MOD stock overview for the latest quote and news.
MOD key metrics FAQ
What is Modine Manufacturing's P/E ratio?
Modine Manufacturing's trailing P/E ratio is 56.0 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 26.0. At the end of fiscal 2026 it was 96.1, compared with a 10-year median of 27.0.
What is Modine Manufacturing's EV/EBITDA?
Modine Manufacturing's enterprise value was 41.0 times EBITDA at the end of fiscal 2026 (enterprise value $12.2 billion, EBITDA $297.8 million); the current EV/EBITDA is 34.6.
What is Modine Manufacturing's return on equity?
Modine Manufacturing's return on equity (ROE) was 11.6% in fiscal 2026: net income of $121.8 million on average shareholders' equity of $1.1 billion.
What is Modine Manufacturing's ROIC?
Modine Manufacturing's return on invested capital was 15.1% in fiscal 2026, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Modine Manufacturing have?
Modine Manufacturing had total debt of $580.1 million at the end of fiscal 2026, a debt-to-equity ratio of 0.49 and $506.6 million of net debt (1.70 times EBITDA).
Does Modine Manufacturing buy back its shares?
Yes. Modine Manufacturing spent $7.0 million on net share repurchases in fiscal 2026 Shares outstanding changed +0.2% over the year, to 54.0M..
What is Modine Manufacturing's free cash flow yield?
Modine Manufacturing generated $105.4 million of free cash flow in fiscal 2026, a free cash flow yield of 0.9% on its market value at year-end ($11.7 billion).
What is Modine Manufacturing's current ratio?
Modine Manufacturing's current ratio was 1.94 at the end of fiscal 2026: current assets were 1.94 times current liabilities.