Loading financials from SEC filings…
Auto parts · Consumer Cyclical · Fiscal year ends Mar 31
Modine Manufacturing reported revenue of $3.2B in the fiscal year ended Mar 2026, up 23.1% from the year before. Operating income was $342M, an operating margin of 10.8%, and net income was $122M. Operating cash flow of $249M less capital expenditure of $143M left free cash flow of $105M. Net debt was $319M.
Ranks among the 17 auto parts companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Revenue | 2,050 | 2,298 | 2,408 | 2,584 | 3,181 |
| Cost of revenue | 1,741 | 1,909 | 1,882 | 1,940 | 2,450 |
| Gross profit | 309 | 389 | 526 | 644 | 731 |
| Research & development | 50.3 | 44.0 | 42.0 | 34.9 | 29.3 |
| Selling, general & admin | 215 | 234 | 274 | 332 | 360 |
| Operating income | 119 | 150 | 241 | 284 | 342 |
| Interest expense | 15.6 | 20.7 | 24.1 | 26.4 | 31.6 |
| Pre-tax income | 102 | 125 | 215 | 254 | 187 |
| Income tax | 15.2 | −28.3 | 51.2 | 68.5 | 63.2 |
| Net income | 85.2 | 153 | 162 | 184 | 122 |
| Diluted EPS | 1.62 | 2.90 | 3.03 | 3.42 | 2.26 |
| Diluted shares | 52.5 | 52.8 | 53.4 | 53.9 | 53.8 |
| Fiscal year | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Cash & equivalents | 45.2 | 67.1 | 60.1 | 71.6 | 73.5 |
| Receivables | 368 | 398 | 423 | 479 | 731 |
| Inventory | 281 | 325 | 358 | 341 | 506 |
| Current assets | 758 | 846 | 894 | 961 | 1,416 |
| Net PP&E | 315 | 315 | 366 | 391 | 521 |
| Goodwill | 168 | 166 | 231 | 234 | 292 |
| Total assets | 1,427 | 1,566 | 1,852 | 1,918 | 2,675 |
| Payables | 326 | 333 | 283 | 291 | 465 |
| Deferred revenue | 11.8 | 21.5 | 79.4 | 33.2 | 23.9 |
| Current liabilities | 495 | 507 | 546 | 541 | 729 |
| Short-term debt | 7.7 | 3.7 | 12.0 | 9.3 | 7.5 |
| Long-term debt | 348 | 329 | 400 | 297 | 385 |
| Total liabilities | 969 | 966 | 1,096 | 999 | 1,472 |
| Shareholders' equity | 451 | 593 | 748 | 910 | 1,195 |
| Fiscal year | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Operating cash flow | 11.5 | 108 | 215 | 213 | 249 |
| Capital expenditure | 40.3 | 50.7 | 87.7 | 84.0 | 143 |
| Free cash flow | −28.8 | 56.8 | 127 | 129 | 105 |
| Depreciation & amortisation | 54.8 | 54.5 | 56.1 | 77.7 | 79.7 |
| Stock-based compensation | 5.7 | 6.6 | 10.8 | 26.4 | 22.1 |
| Acquisitions | 0.0 | 0.0 | 186 | 3.4 | 182 |
| Share buybacks | 0.0 | 9.0 | 17.7 | 30.9 | 7.0 |
| Fiscal year | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 12.1% | 4.8% | 7.3% | 23.1% |
| Operating income growth (YoY) | – | 26.2% | 60.0% | 17.8% | 20.8% |
| EPS growth (YoY) | – | 79.0% | 4.5% | 12.9% | −33.9% |
| Gross margin | 15.1% | 16.9% | 21.8% | 24.9% | 23.0% |
| Operating margin | 5.8% | 6.5% | 10.0% | 11.0% | 10.8% |
| Net margin | 4.2% | 6.7% | 6.7% | 7.1% | 3.8% |
| Return on equityBlank when equity is negative | 18.9% | 25.8% | 21.6% | 20.2% | 10.2% |
| ROCEEBIT ÷ (assets − current liabilities) | 12.8% | 14.2% | 18.4% | 20.6% | 17.6% |
| Free cash flow margin | −1.4% | 2.5% | 5.3% | 5.0% | 3.3% |
| Cash conversion (CFO ÷ net income) | 0.13x | 0.70x | 1.33x | 1.16x | 2.05x |
| Receivable days | 65 | 63 | 64 | 68 | 84 |
| Inventory days | 59 | 62 | 69 | 64 | 75 |
| Payable days | 68 | 64 | 55 | 55 | 69 |
| Interest cover | 7.64x | 7.27x | 9.99x | 10.7x | 10.8x |
| Debt ÷ equity | 0.79x | 0.56x | 0.55x | 0.34x | 0.33x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | 311 | 266 | 352 | 234 | 319 |
| Current ratio | 1.53x | 1.67x | 1.64x | 1.78x | 1.94x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.