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Side-by-side financial comparison of AMERICAN AXLE & MANUFACTURING HOLDINGS INC (AXL) and MODINE MANUFACTURING CO (MOD). Click either name above to swap in a different company.
AMERICAN AXLE & MANUFACTURING HOLDINGS INC is the larger business by last-quarter revenue ($1.4B vs $805.0M, roughly 1.7× MODINE MANUFACTURING CO). AMERICAN AXLE & MANUFACTURING HOLDINGS INC runs the higher net margin — -5.4% vs -5.9%, a 0.4% gap on every dollar of revenue. On growth, MODINE MANUFACTURING CO posted the faster year-over-year revenue change (30.5% vs 0.2%). AMERICAN AXLE & MANUFACTURING HOLDINGS INC produced more free cash flow last quarter ($54.7M vs $-17.1M). Over the past eight quarters, MODINE MANUFACTURING CO's revenue compounded faster (15.5% CAGR vs -7.2%).
American Axle & Manufacturing, Inc. (AAM), headquartered in Detroit, Michigan, is an American manufacturer of automobile driveline and drivetrain components and systems.
Modine Manufacturing is a thermal management company established in 1916 in the United States. The company started as Modine Manufacturing Company by Arthur B Modine who patented the Spirex radiator for tractors. The Modine company manufactured the Turbotube radiator for Ford Model T cars. The company built the world's first vehicular wind tunnel in Racine, Wisconsin in 1941. During WWII, Modine manufactured aftercoolers for the P-51 Mustang fighter plane. After WWII, Modine introduced the Ai...
AXL vs MOD — Head-to-Head
Income Statement — Q4 2025 vs Q3 2026
| Metric | | |
|---|---|---|
| Revenue | $1.4B | $805.0M |
| Net Profit | $-75.3M | $-47.4M |
| Gross Margin | 10.2% | 23.1% |
| Operating Margin | -2.4% | 11.1% |
| Net Margin | -5.4% | -5.9% |
| Revenue YoY | 0.2% | 30.5% |
| Net Profit YoY | -449.6% | -215.6% |
| EPS (diluted) | $-0.62 | $-0.90 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $1.4B | $805.0M | ||
| Q3 25 | $1.5B | $738.9M | ||
| Q2 25 | $1.5B | $682.8M | ||
| Q1 25 | $1.4B | $647.2M | ||
| Q4 24 | $1.4B | $616.8M | ||
| Q3 24 | $1.5B | $658.0M | ||
| Q2 24 | $1.6B | $661.5M | ||
| Q1 24 | $1.6B | $603.5M |
| Q4 25 | $-75.3M | $-47.4M | ||
| Q3 25 | $9.2M | $44.4M | ||
| Q2 25 | $39.3M | $51.2M | ||
| Q1 25 | $7.1M | $49.6M | ||
| Q4 24 | $-13.7M | $41.0M | ||
| Q3 24 | $10.0M | $46.1M | ||
| Q2 24 | $18.2M | $47.3M | ||
| Q1 24 | $20.5M | $25.8M |
| Q4 25 | 10.2% | 23.1% | ||
| Q3 25 | 12.6% | 22.3% | ||
| Q2 25 | 13.1% | 24.2% | ||
| Q1 25 | 12.3% | 25.6% | ||
| Q4 24 | 11.2% | 24.3% | ||
| Q3 24 | 11.4% | 25.2% | ||
| Q2 24 | 13.3% | 24.6% | ||
| Q1 24 | 12.4% | 22.4% |
| Q4 25 | -2.4% | 11.1% | ||
| Q3 25 | 3.2% | 9.9% | ||
| Q2 25 | 3.6% | 11.1% | ||
| Q1 25 | 3.0% | 11.5% | ||
| Q4 24 | 2.6% | 9.6% | ||
| Q3 24 | 2.8% | 11.4% | ||
| Q2 24 | 5.3% | 11.2% | ||
| Q1 24 | 4.8% | 7.8% |
| Q4 25 | -5.4% | -5.9% | ||
| Q3 25 | 0.6% | 6.0% | ||
| Q2 25 | 2.6% | 7.5% | ||
| Q1 25 | 0.5% | 7.7% | ||
| Q4 24 | -1.0% | 6.6% | ||
| Q3 24 | 0.7% | 7.0% | ||
| Q2 24 | 1.1% | 7.2% | ||
| Q1 24 | 1.3% | 4.3% |
| Q4 25 | $-0.62 | $-0.90 | ||
| Q3 25 | $0.07 | $0.83 | ||
| Q2 25 | $0.32 | $0.95 | ||
| Q1 25 | $0.06 | $0.92 | ||
| Q4 24 | $-0.11 | $0.76 | ||
| Q3 24 | $0.08 | $0.86 | ||
| Q2 24 | $0.15 | $0.88 | ||
| Q1 24 | $0.17 | $0.48 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $708.9M | $98.7M |
| Total DebtLower is stronger | $4.0B | $570.7M |
| Stockholders' EquityBook value | $640.0M | $1.1B |
| Total Assets | $6.7B | $2.5B |
| Debt / EquityLower = less leverage | 6.31× | 0.51× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $708.9M | $98.7M | ||
| Q3 25 | $714.1M | $83.8M | ||
| Q2 25 | $586.5M | $124.5M | ||
| Q1 25 | $549.2M | $71.6M | ||
| Q4 24 | $552.9M | $83.8M | ||
| Q3 24 | $542.5M | $78.6M | ||
| Q2 24 | $519.9M | $72.9M | ||
| Q1 24 | $469.8M | $60.1M |
| Q4 25 | $4.0B | $570.7M | ||
| Q3 25 | $2.6B | $525.8M | ||
| Q2 25 | $2.6B | $482.1M | ||
| Q1 25 | $2.6B | $296.7M | ||
| Q4 24 | $2.6B | $330.0M | ||
| Q3 24 | $2.6B | $359.1M | ||
| Q2 24 | $2.7B | $405.7M | ||
| Q1 24 | $2.7B | $399.9M |
| Q4 25 | $640.0M | $1.1B | ||
| Q3 25 | $718.4M | $1.1B | ||
| Q2 25 | $673.0M | $1.0B | ||
| Q1 25 | $596.3M | $910.2M | ||
| Q4 24 | $562.8M | $855.1M | ||
| Q3 24 | $616.3M | $858.8M | ||
| Q2 24 | $609.6M | $788.4M | ||
| Q1 24 | $621.4M | $747.6M |
| Q4 25 | $6.7B | $2.5B | ||
| Q3 25 | $5.3B | $2.4B | ||
| Q2 25 | $5.3B | $2.2B | ||
| Q1 25 | $5.1B | $1.9B | ||
| Q4 24 | $5.1B | $1.8B | ||
| Q3 24 | $5.3B | $1.9B | ||
| Q2 24 | $5.3B | $1.9B | ||
| Q1 24 | $5.4B | $1.9B |
| Q4 25 | 6.31× | 0.51× | ||
| Q3 25 | 3.61× | 0.50× | ||
| Q2 25 | 3.86× | 0.48× | ||
| Q1 25 | 4.38× | 0.33× | ||
| Q4 24 | 4.58× | 0.39× | ||
| Q3 24 | 4.28× | 0.42× | ||
| Q2 24 | 4.42× | 0.51× | ||
| Q1 24 | 4.40× | 0.53× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $120.5M | $24.7M |
| Free Cash FlowOCF − Capex | $54.7M | $-17.1M |
| FCF MarginFCF / Revenue | 4.0% | -2.1% |
| Capex IntensityCapex / Revenue | 4.8% | 5.2% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $155.1M | $-20.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $120.5M | $24.7M | ||
| Q3 25 | $143.3M | $1.4M | ||
| Q2 25 | $91.9M | $27.7M | ||
| Q1 25 | $55.9M | $54.8M | ||
| Q4 24 | $151.2M | $60.7M | ||
| Q3 24 | $143.6M | $57.3M | ||
| Q2 24 | $142.8M | $40.5M | ||
| Q1 24 | $17.8M | $39.6M |
| Q4 25 | $54.7M | $-17.1M | ||
| Q3 25 | $79.2M | $-30.5M | ||
| Q2 25 | $34.6M | $200.0K | ||
| Q1 25 | $-13.4M | $27.1M | ||
| Q4 24 | $73.2M | $44.7M | ||
| Q3 24 | $70.4M | $43.8M | ||
| Q2 24 | $94.0M | $13.7M | ||
| Q1 24 | $-30.2M | $-4.3M |
| Q4 25 | 4.0% | -2.1% | ||
| Q3 25 | 5.3% | -4.1% | ||
| Q2 25 | 2.3% | 0.0% | ||
| Q1 25 | -0.9% | 4.2% | ||
| Q4 24 | 5.3% | 7.2% | ||
| Q3 24 | 4.7% | 6.7% | ||
| Q2 24 | 5.8% | 2.1% | ||
| Q1 24 | -1.9% | -0.7% |
| Q4 25 | 4.8% | 5.2% | ||
| Q3 25 | 4.3% | 4.3% | ||
| Q2 25 | 3.7% | 4.0% | ||
| Q1 25 | 4.9% | 4.3% | ||
| Q4 24 | 5.6% | 2.6% | ||
| Q3 24 | 4.9% | 2.1% | ||
| Q2 24 | 3.0% | 4.1% | ||
| Q1 24 | 3.0% | 7.3% |
| Q4 25 | — | — | ||
| Q3 25 | 15.58× | 0.03× | ||
| Q2 25 | 2.34× | 0.54× | ||
| Q1 25 | 7.87× | 1.10× | ||
| Q4 24 | — | 1.48× | ||
| Q3 24 | 14.36× | 1.24× | ||
| Q2 24 | 7.85× | 0.86× | ||
| Q1 24 | 0.87× | 1.53× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AXL
| Driveline | $748.4M | 54% |
| Other | $345.7M | 25% |
| Metal Forming | $289.8M | 21% |
MOD
| Data Centers | $296.9M | 37% |
| Performance Technologies | $266.0M | 33% |
| Hvac Technologies | $107.1M | 13% |
| Air Cooled | $92.4M | 11% |
| Lb White | $25.6M | 3% |
| Climate By Design | $10.2M | 1% |
| Absolutaire | $7.0M | 1% |
