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Side-by-side financial comparison of Bath & Body Works, Inc. (BBWI) and MODINE MANUFACTURING CO (MOD). Click either name above to swap in a different company.
Bath & Body Works, Inc. is the larger business by last-quarter revenue ($1.6B vs $805.0M, roughly 2.0× MODINE MANUFACTURING CO). Bath & Body Works, Inc. runs the higher net margin — 4.8% vs -5.9%, a 10.7% gap on every dollar of revenue. On growth, MODINE MANUFACTURING CO posted the faster year-over-year revenue change (30.5% vs -1.0%). Bath & Body Works, Inc. produced more free cash flow last quarter ($-1.0M vs $-17.1M). Over the past eight quarters, MODINE MANUFACTURING CO's revenue compounded faster (15.5% CAGR vs -26.0%).
Bath & Body Works, Inc. is an American specialty retail company based in Columbus, Ohio. It owns Bath & Body Works, posted $7.4 billion in revenue in 2023, and was listed as 481 on the 2024 Fortune 500 list of largest United States companies by revenue.
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...
BBWI vs MOD — Head-to-Head
Income Statement — Q3 FY2026 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.6B | $805.0M |
| Net Profit | $77.0M | $-47.4M |
| Gross Margin | 41.3% | 23.1% |
| Operating Margin | 10.1% | 11.1% |
| Net Margin | 4.8% | -5.9% |
| Revenue YoY | -1.0% | 30.5% |
| Net Profit YoY | -27.4% | -215.6% |
| EPS (diluted) | $0.37 | $-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 | $1.6B | $805.0M | ||
| Q3 25 | $1.5B | $738.9M | ||
| Q2 25 | $1.4B | $682.8M | ||
| Q1 25 | $2.8B | $647.2M | ||
| Q4 24 | $1.6B | $616.8M | ||
| Q3 24 | $1.5B | $658.0M | ||
| Q2 24 | $1.4B | $661.5M | ||
| Q1 24 | $2.9B | $603.5M |
| Q4 25 | $77.0M | $-47.4M | ||
| Q3 25 | $64.0M | $44.4M | ||
| Q2 25 | $105.0M | $51.2M | ||
| Q1 25 | $453.0M | $49.6M | ||
| Q4 24 | $106.0M | $41.0M | ||
| Q3 24 | $152.0M | $46.1M | ||
| Q2 24 | $87.0M | $47.3M | ||
| Q1 24 | $579.0M | $25.8M |
| Q4 25 | 41.3% | 23.1% | ||
| Q3 25 | 41.3% | 22.3% | ||
| Q2 25 | 45.4% | 24.2% | ||
| Q1 25 | 46.7% | 25.6% | ||
| Q4 24 | 43.5% | 24.3% | ||
| Q3 24 | 41.0% | 25.2% | ||
| Q2 24 | 43.8% | 24.6% | ||
| Q1 24 | 45.9% | 22.4% |
| Q4 25 | 10.1% | 11.1% | ||
| Q3 25 | 10.1% | 9.9% | ||
| Q2 25 | 14.7% | 11.1% | ||
| Q1 25 | 24.3% | 11.5% | ||
| Q4 24 | 13.5% | 9.6% | ||
| Q3 24 | 12.0% | 11.4% | ||
| Q2 24 | 13.5% | 11.2% | ||
| Q1 24 | 23.9% | 7.8% |
| Q4 25 | 4.8% | -5.9% | ||
| Q3 25 | 4.1% | 6.0% | ||
| Q2 25 | 7.4% | 7.5% | ||
| Q1 25 | 16.3% | 7.7% | ||
| Q4 24 | 6.6% | 6.6% | ||
| Q3 24 | 10.0% | 7.0% | ||
| Q2 24 | 6.3% | 7.2% | ||
| Q1 24 | 19.9% | 4.3% |
| Q4 25 | $0.37 | $-0.90 | ||
| Q3 25 | $0.30 | $0.83 | ||
| Q2 25 | $0.49 | $0.95 | ||
| Q1 25 | $2.06 | $0.92 | ||
| Q4 24 | $0.49 | $0.76 | ||
| Q3 24 | $0.68 | $0.86 | ||
| Q2 24 | $0.38 | $0.88 | ||
| Q1 24 | $2.54 | $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 | $236.0M | $98.7M |
| Total DebtLower is stronger | $3.9B | $570.7M |
| Stockholders' EquityBook value | $-1.6B | $1.1B |
| Total Assets | $5.0B | $2.5B |
| Debt / EquityLower = less leverage | — | 0.51× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $236.0M | $98.7M | ||
| Q3 25 | $364.0M | $83.8M | ||
| Q2 25 | $636.0M | $124.5M | ||
| Q1 25 | $674.0M | $71.6M | ||
| Q4 24 | $191.0M | $83.8M | ||
| Q3 24 | $514.0M | $78.6M | ||
| Q2 24 | $855.0M | $72.9M | ||
| Q1 24 | $1.1B | $60.1M |
| Q4 25 | $3.9B | $570.7M | ||
| Q3 25 | $3.9B | $525.8M | ||
| Q2 25 | $3.9B | $482.1M | ||
| Q1 25 | $3.9B | $296.7M | ||
| Q4 24 | $4.2B | $330.0M | ||
| Q3 24 | $4.2B | $359.1M | ||
| Q2 24 | $4.3B | $405.7M | ||
| Q1 24 | $4.4B | $399.9M |
| Q4 25 | $-1.6B | $1.1B | ||
| Q3 25 | $-1.5B | $1.1B | ||
| Q2 25 | $-1.5B | $1.0B | ||
| Q1 25 | $-1.4B | $910.2M | ||
| Q4 24 | $-1.7B | $855.1M | ||
| Q3 24 | $-1.7B | $858.8M | ||
| Q2 24 | $-1.7B | $788.4M | ||
| Q1 24 | $-1.6B | $747.6M |
| Q4 25 | $5.0B | $2.5B | ||
| Q3 25 | $4.8B | $2.4B | ||
| Q2 25 | $4.9B | $2.2B | ||
| Q1 25 | $4.9B | $1.9B | ||
| Q4 24 | $5.0B | $1.8B | ||
| Q3 24 | $4.9B | $1.9B | ||
| Q2 24 | $5.2B | $1.9B | ||
| Q1 24 | $5.5B | $1.9B |
| Q4 25 | — | 0.51× | ||
| Q3 25 | — | 0.50× | ||
| Q2 25 | — | 0.48× | ||
| Q1 25 | — | 0.33× | ||
| Q4 24 | — | 0.39× | ||
| Q3 24 | — | 0.42× | ||
| Q2 24 | — | 0.51× | ||
| Q1 24 | — | 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 | $80.0M | $24.7M |
| Free Cash FlowOCF − Capex | $-1.0M | $-17.1M |
| FCF MarginFCF / Revenue | -0.1% | -2.1% |
| Capex IntensityCapex / Revenue | 5.1% | 5.2% |
| Cash ConversionOCF / Net Profit | 1.04× | — |
| TTM Free Cash FlowTrailing 4 quarters | $946.0M | $-20.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $80.0M | $24.7M | ||
| Q3 25 | $-43.0M | $1.4M | ||
| Q2 25 | $188.0M | $27.7M | ||
| Q1 25 | $955.0M | $54.8M | ||
| Q4 24 | $-99.0M | $60.7M | ||
| Q3 24 | $-46.0M | $57.3M | ||
| Q2 24 | $76.0M | $40.5M | ||
| Q1 24 | $926.0M | $39.6M |
| Q4 25 | $-1.0M | $-17.1M | ||
| Q3 25 | $-99.0M | $-30.5M | ||
| Q2 25 | $151.0M | $200.0K | ||
| Q1 25 | $895.0M | $27.1M | ||
| Q4 24 | $-164.0M | $44.7M | ||
| Q3 24 | $-101.0M | $43.8M | ||
| Q2 24 | $30.0M | $13.7M | ||
| Q1 24 | $878.0M | $-4.3M |
| Q4 25 | -0.1% | -2.1% | ||
| Q3 25 | -6.4% | -4.1% | ||
| Q2 25 | 10.6% | 0.0% | ||
| Q1 25 | 32.1% | 4.2% | ||
| Q4 24 | -10.2% | 7.2% | ||
| Q3 24 | -6.6% | 6.7% | ||
| Q2 24 | 2.2% | 2.1% | ||
| Q1 24 | 30.2% | -0.7% |
| Q4 25 | 5.1% | 5.2% | ||
| Q3 25 | 3.6% | 4.3% | ||
| Q2 25 | 2.6% | 4.0% | ||
| Q1 25 | 2.2% | 4.3% | ||
| Q4 24 | 4.0% | 2.6% | ||
| Q3 24 | 3.6% | 2.1% | ||
| Q2 24 | 3.3% | 4.1% | ||
| Q1 24 | 1.6% | 7.3% |
| Q4 25 | 1.04× | — | ||
| Q3 25 | -0.67× | 0.03× | ||
| Q2 25 | 1.79× | 0.54× | ||
| Q1 25 | 2.11× | 1.10× | ||
| Q4 24 | -0.93× | 1.48× | ||
| Q3 24 | -0.30× | 1.24× | ||
| Q2 24 | 0.87× | 0.86× | ||
| Q1 24 | 1.60× | 1.53× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BBWI
| Bath Body Works Stores | $1.2B | 77% |
| Bath Body Works Direct | $299.0M | 19% |
| Bath Body Works International | $73.0M | 5% |
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% |
