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Modine Manufacturing Company (MOD)



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Upturn Advisory Summary
06/30/2025: MOD (1-star) has a low Upturn Star Rating. Not recommended to BUY.
1 Year Target Price $133.2
1 Year Target Price $133.2
4 | Strong Buy |
1 | Buy |
1 | Hold |
0 | Sell |
0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit 8.77% | Avg. Invested days 35 | Today’s Advisory Consider higher Upturn Star rating |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Mid-Cap Stock | Market Capitalization 5.16B USD | Price to earnings Ratio 28.8 | 1Y Target Price 133.2 |
Price to earnings Ratio 28.8 | 1Y Target Price 133.2 | ||
Volume (30-day avg) 6 | Beta 2.06 | 52 Weeks Range 64.79 - 146.84 | Updated Date 06/30/2025 |
52 Weeks Range 64.79 - 146.84 | Updated Date 06/30/2025 | ||
Dividends yield (FY) - | Basic EPS (TTM) 3.42 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 7.12% | Operating Margin (TTM) 13.19% |
Management Effectiveness
Return on Assets (TTM) 10.25% | Return on Equity (TTM) 22.17% |
Valuation
Trailing PE 28.8 | Forward PE 22.73 | Enterprise Value 5588593423 | Price to Sales(TTM) 2 |
Enterprise Value 5588593423 | Price to Sales(TTM) 2 | ||
Enterprise Value to Revenue 2.16 | Enterprise Value to EBITDA 15.61 | Shares Outstanding 52391900 | Shares Floating 51508032 |
Shares Outstanding 52391900 | Shares Floating 51508032 | ||
Percent Insiders 1.53 | Percent Institutions 110.29 |
Analyst Ratings
Rating 3 | Target Price 133.2 | Buy 1 | Strong Buy 4 |
Buy 1 | Strong Buy 4 | ||
Hold 1 | Sell - | Strong Sell - | |
Strong Sell - |
Upturn AI SWOT
Modine Manufacturing Company

Company Overview
History and Background
Modine Manufacturing Company was founded in 1916. Initially focused on automotive radiators, it has evolved into a diversified global leader in thermal management solutions and components.
Core Business Areas
- Climate Solutions: Provides heating, ventilation, and air conditioning (HVAC) systems and solutions for commercial and industrial applications.
- Performance Technologies: Develops and manufactures heat transfer products for vehicular and industrial applications, including on- and off-highway vehicles, engine cooling, fuel cooling, and thermal management systems for electric and hybrid vehicles.
Leadership and Structure
The leadership team is headed by the CEO and includes executives responsible for finance, operations, strategy, and various business units. The organizational structure is divided into global business segments.
Top Products and Market Share
Key Offerings
- Commercial HVAC Systems: Includes rooftop units, chillers, air handlers, and unit heaters. Competitors include Trane Technologies (TT), Carrier Global (CARR), and Johnson Controls (JCI). Modine market share in North American commercial HVAC varies but is estimated to be below 10%.
- Vehicle Thermal Management: Includes radiators, coolers, condensers, and heat exchangers for automotive, commercial vehicle, and industrial applications. Competitors include Dana (DAN) and BorgWarner (BWA). Modine market share varies by region and application, but they are considered a significant player in certain niches. No specific market share.
- EV Thermal Management Systems: Includes heat pumps, battery thermal management solutions for electric vehicles. Competitors include Dana (DAN) and BorgWarner (BWA). Modine is a emerging player and no specific market share available.
Market Dynamics
Industry Overview
The thermal management industry is experiencing growth driven by increasing demand for energy efficiency, stricter emissions regulations, and the electrification of vehicles. HVAC market is driven by building construction and regulations for energy efficiency
Positioning
Modine is positioned as a provider of diversified thermal management solutions, with a focus on energy-efficient and environmentally friendly technologies. They leverage their engineering expertise and global footprint to serve a wide range of customers.
Total Addressable Market (TAM)
The global thermal management market is estimated to be in the hundreds of billions of dollars. Modine's position within this TAM is as a mid-sized player focusing on specific niches and applications. EV and Automotive market TAM is expanding rapidly.
Upturn SWOT Analysis
Strengths
- Diversified product portfolio
- Global manufacturing footprint
- Strong engineering capabilities
- Established customer relationships
Weaknesses
- Relatively smaller size compared to major competitors
- Exposure to cyclical industries
- Dependence on raw material prices
Opportunities
- Growth in electric vehicle thermal management
- Increasing demand for energy-efficient HVAC solutions
- Expansion into emerging markets
- Potential acquisitions to expand product offerings
Threats
- Intense competition
- Fluctuations in raw material costs
- Economic downturns affecting key industries
- Technological advancements disrupting existing product lines
Competitors and Market Share
Key Competitors
- TT
- CARR
- JCI
- DAN
- BWA
Competitive Landscape
Modine's advantages include its diversified product portfolio, engineering capabilities, and global footprint. Disadvantages include its smaller size compared to major competitors and exposure to cyclical industries.
Major Acquisitions
Luvata Heat Transfer Solutions
- Year: 2016
- Acquisition Price (USD millions): 422
- Strategic Rationale: Expanded Modine's presence in the commercial refrigeration and industrial markets.
Growth Trajectory and Initiatives
Historical Growth: Modine's growth has been a mix of organic expansion and acquisitions. Recent years have seen a focus on higher-margin products and services.
Future Projections: Analyst projections for Modine's future growth depend on factors such as economic conditions, industry trends, and the company's execution of its strategic initiatives.
Recent Initiatives: Recent strategic initiatives include investments in electric vehicle thermal management, expansion of HVAC offerings, and cost-cutting measures.
Summary
Modine is a diversified thermal management company with a global presence. It is capitalizing on growth in electric vehicles, while also balancing this with exposure to cyclical industries. While Modine faces intense competition from larger players, its engineering capabilities are a strength. Maintaining margins and managing raw material costs will be key factors.
Peer Comparison
Sources and Disclaimers
Data Sources:
- Company Website
- SEC Filings
- Analyst Reports
- Industry Publications
Disclaimers:
This analysis is based on publicly available information and should not be considered financial advice. Market conditions and company performance can change rapidly. Market share data is estimated and approximate.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Modine Manufacturing Company
Exchange NYSE | Headquaters Racine, WI, United States | ||
IPO Launch date 1990-03-26 | President, CEO & Director Mr. Neil D. Brinker | ||
Sector Consumer Cyclical | Industry Auto Parts | Full time employees 11400 | Website https://www.modine.com |
Full time employees 11400 | Website https://www.modine.com |
Modine Manufacturing Company designs, engineers, tests, manufactures, and sells mission-critical thermal solutions in the United States, Canada, Italy, Hungary, the United Kingdom, China, and internationally. It operates through Climate Solutions and Performance Technologies segments. The company offers heat transfer products, including round tube plate fin construction; gas-fired, hydronic, electric, and oil fired unit heaters; roof-mounted direct- and indirect-fired makeup air units, duct furnaces, infrared units, and perimeter heating products; single packaged unit ventilators, modular chillers, air handler and condensing units, and ceiling cassettes; evaporator unit coolers, remote condensers, fluid coolers, gas coolers, and dry and brine coolers; and motor and generator cooling coils, transformer oil coolers, radiators, dryers, and industrial heat exchangers. It also provides data center products that consists of IT cooling solutions, including precision air conditioning units for data center applications; computer room air conditioning and handler units; hybrid fan coils; fan walls; chillers; condensers; condensing units; and liquid cooling solutions for high-density computing, as well as sells replacement parts, maintenance service and control solutions for existing equipment and new building management controls and systems. In addition, the company offers powertrain cooling products, such as radiators, condensers, engine cooling modules, charge air coolers, fan shrouds, and surge tanks; cooling module generator sets; aluminum and stainless steel engine oil coolers, exhaust gas recirculation coolers, liquid charge air coolers, transmission and retarder oil coolers, chillers, and condensers; battery thermal management systems, electronics cooling packages, battery chillers, battery cooling plates, coolers and casings for electronics cooling, and coolers for electric axles; and coatings products and application services. Modine Manufacturing Company was incorporated in 1916 and is headquartered in Racine, Wi
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