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Side-by-side financial comparison of BELDEN INC. (BDC) and MODINE MANUFACTURING CO (MOD). Click either name above to swap in a different company.
MODINE MANUFACTURING CO is the larger business by last-quarter revenue ($805.0M vs $696.4M, roughly 1.2× BELDEN INC.). BELDEN INC. runs the higher net margin — 7.3% vs -5.9%, a 13.2% gap on every dollar of revenue. On growth, MODINE MANUFACTURING CO posted the faster year-over-year revenue change (30.5% vs 11.4%). MODINE MANUFACTURING CO produced more free cash flow last quarter ($-17.1M vs $-63.1M). Over the past eight quarters, MODINE MANUFACTURING CO's revenue compounded faster (15.5% CAGR vs 7.3%).
Belden Inc. is an American, multinational, publicly traded company specializing in the design, manufacture, and distribution of end-to-end networking, security and connectivity products. The company serves the Industrial Automation Solutions, Smart Buildings and Broadband & 5G markets.
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...
BDC vs MOD — Head-to-Head
Income Statement — Q1 FY2026 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $696.4M | $805.0M |
| Net Profit | $51.0M | $-47.4M |
| Gross Margin | 37.1% | 23.1% |
| Operating Margin | 11.2% | 11.1% |
| Net Margin | 7.3% | -5.9% |
| Revenue YoY | 11.4% | 30.5% |
| Net Profit YoY | -1.8% | -215.6% |
| EPS (diluted) | $1.30 | $-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.
| Q1 26 | $696.4M | — | ||
| Q4 25 | $720.1M | $805.0M | ||
| Q3 25 | $698.2M | $738.9M | ||
| Q2 25 | $672.0M | $682.8M | ||
| Q1 25 | $624.9M | $647.2M | ||
| Q4 24 | $666.0M | $616.8M | ||
| Q3 24 | $654.9M | $658.0M | ||
| Q2 24 | $604.3M | $661.5M |
| Q1 26 | $51.0M | — | ||
| Q4 25 | $67.9M | $-47.4M | ||
| Q3 25 | $56.7M | $44.4M | ||
| Q2 25 | $61.0M | $51.2M | ||
| Q1 25 | $51.9M | $49.6M | ||
| Q4 24 | $58.4M | $41.0M | ||
| Q3 24 | $53.7M | $46.1M | ||
| Q2 24 | $49.0M | $47.3M |
| Q1 26 | 37.1% | — | ||
| Q4 25 | 36.6% | 23.1% | ||
| Q3 25 | 37.7% | 22.3% | ||
| Q2 25 | 38.5% | 24.2% | ||
| Q1 25 | 39.3% | 25.6% | ||
| Q4 24 | 37.5% | 24.3% | ||
| Q3 24 | 37.3% | 25.2% | ||
| Q2 24 | 37.5% | 24.6% |
| Q1 26 | 11.2% | — | ||
| Q4 25 | 12.2% | 11.1% | ||
| Q3 25 | 10.9% | 9.9% | ||
| Q2 25 | 11.8% | 11.1% | ||
| Q1 25 | 11.6% | 11.5% | ||
| Q4 24 | 10.4% | 9.6% | ||
| Q3 24 | 11.5% | 11.4% | ||
| Q2 24 | 11.4% | 11.2% |
| Q1 26 | 7.3% | — | ||
| Q4 25 | 9.4% | -5.9% | ||
| Q3 25 | 8.1% | 6.0% | ||
| Q2 25 | 9.1% | 7.5% | ||
| Q1 25 | 8.3% | 7.7% | ||
| Q4 24 | 8.8% | 6.6% | ||
| Q3 24 | 8.2% | 7.0% | ||
| Q2 24 | 8.1% | 7.2% |
| Q1 26 | $1.30 | — | ||
| Q4 25 | $1.70 | $-0.90 | ||
| Q3 25 | $1.41 | $0.83 | ||
| Q2 25 | $1.53 | $0.95 | ||
| Q1 25 | $1.27 | $0.92 | ||
| Q4 24 | $1.41 | $0.76 | ||
| Q3 24 | $1.30 | $0.86 | ||
| Q2 24 | $1.19 | $0.88 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $272.2M | $98.7M |
| Total DebtLower is stronger | $1.3B | $570.7M |
| Stockholders' EquityBook value | $1.3B | $1.1B |
| Total Assets | — | $2.5B |
| Debt / EquityLower = less leverage | 0.98× | 0.51× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $272.2M | — | ||
| Q4 25 | $389.9M | $98.7M | ||
| Q3 25 | $314.3M | $83.8M | ||
| Q2 25 | $301.5M | $124.5M | ||
| Q1 25 | $259.0M | $71.6M | ||
| Q4 24 | $370.3M | $83.8M | ||
| Q3 24 | $323.0M | $78.6M | ||
| Q2 24 | $564.8M | $72.9M |
| Q1 26 | $1.3B | — | ||
| Q4 25 | — | $570.7M | ||
| Q3 25 | — | $525.8M | ||
| Q2 25 | — | $482.1M | ||
| Q1 25 | — | $296.7M | ||
| Q4 24 | — | $330.0M | ||
| Q3 24 | — | $359.1M | ||
| Q2 24 | — | $405.7M |
| Q1 26 | $1.3B | — | ||
| Q4 25 | $1.3B | $1.1B | ||
| Q3 25 | $1.2B | $1.1B | ||
| Q2 25 | $1.2B | $1.0B | ||
| Q1 25 | $1.2B | $910.2M | ||
| Q4 24 | $1.3B | $855.1M | ||
| Q3 24 | $1.2B | $858.8M | ||
| Q2 24 | $1.2B | $788.4M |
| Q1 26 | — | — | ||
| Q4 25 | $3.5B | $2.5B | ||
| Q3 25 | $3.4B | $2.4B | ||
| Q2 25 | $3.4B | $2.2B | ||
| Q1 25 | $3.3B | $1.9B | ||
| Q4 24 | $3.3B | $1.8B | ||
| Q3 24 | $3.3B | $1.9B | ||
| Q2 24 | $3.5B | $1.9B |
| Q1 26 | 0.98× | — | ||
| 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× |
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 | — | $24.7M |
| Free Cash FlowOCF − Capex | $-63.1M | $-17.1M |
| FCF MarginFCF / Revenue | -9.1% | -2.1% |
| Capex IntensityCapex / Revenue | 6.4% | 5.2% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $180.4M | $-20.3M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $160.4M | $24.7M | ||
| Q3 25 | $105.0M | $1.4M | ||
| Q2 25 | $82.0M | $27.7M | ||
| Q1 25 | $7.4M | $54.8M | ||
| Q4 24 | $174.7M | $60.7M | ||
| Q3 24 | $91.7M | $57.3M | ||
| Q2 24 | $83.0M | $40.5M |
| Q1 26 | $-63.1M | — | ||
| Q4 25 | $121.3M | $-17.1M | ||
| Q3 25 | $65.3M | $-30.5M | ||
| Q2 25 | $56.9M | $200.0K | ||
| Q1 25 | $-24.8M | $27.1M | ||
| Q4 24 | $116.4M | $44.7M | ||
| Q3 24 | $67.2M | $43.8M | ||
| Q2 24 | $61.0M | $13.7M |
| Q1 26 | -9.1% | — | ||
| Q4 25 | 16.8% | -2.1% | ||
| Q3 25 | 9.4% | -4.1% | ||
| Q2 25 | 8.5% | 0.0% | ||
| Q1 25 | -4.0% | 4.2% | ||
| Q4 24 | 17.5% | 7.2% | ||
| Q3 24 | 10.3% | 6.7% | ||
| Q2 24 | 10.1% | 2.1% |
| Q1 26 | 6.4% | — | ||
| Q4 25 | 5.4% | 5.2% | ||
| Q3 25 | 5.7% | 4.3% | ||
| Q2 25 | 3.7% | 4.0% | ||
| Q1 25 | 5.2% | 4.3% | ||
| Q4 24 | 8.8% | 2.6% | ||
| Q3 24 | 3.7% | 2.1% | ||
| Q2 24 | 3.6% | 4.1% |
| Q1 26 | — | — | ||
| Q4 25 | 2.36× | — | ||
| Q3 25 | 1.85× | 0.03× | ||
| Q2 25 | 1.34× | 0.54× | ||
| Q1 25 | 0.14× | 1.10× | ||
| Q4 24 | 2.99× | 1.48× | ||
| Q3 24 | 1.71× | 1.24× | ||
| Q2 24 | 1.69× | 0.86× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BDC
Segment breakdown not available.
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% |
