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Side-by-side financial comparison of BENCHMARK ELECTRONICS INC (BHE) 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 $677.3M, roughly 1.2× BENCHMARK ELECTRONICS INC). BENCHMARK ELECTRONICS INC runs the higher net margin — 1.9% vs -5.9%, a 7.8% gap on every dollar of revenue. On growth, MODINE MANUFACTURING CO posted the faster year-over-year revenue change (30.5% vs 11.4%). BENCHMARK ELECTRONICS INC produced more free cash flow last quarter ($48.1M vs $-17.1M). Over the past eight quarters, MODINE MANUFACTURING CO's revenue compounded faster (15.5% CAGR vs -0.7%).
Benchmark Electronics Inc is an EMS, ODM, and OEM company based in Tempe, Arizona in the Phoenix metropolitan area. It provides contract manufacturing services.
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...
BHE vs MOD — Head-to-Head
Income Statement — Q1 FY2026 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $677.3M | $805.0M |
| Net Profit | $13.0M | $-47.4M |
| Gross Margin | 10.2% | 23.1% |
| Operating Margin | 3.2% | 11.1% |
| Net Margin | 1.9% | -5.9% |
| Revenue YoY | 11.4% | 30.5% |
| Net Profit YoY | 257.4% | -215.6% |
| EPS (diluted) | $0.17 | $-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 | $677.3M | — | ||
| Q4 25 | $725.8M | $805.0M | ||
| Q3 25 | $702.6M | $738.9M | ||
| Q2 25 | $665.7M | $682.8M | ||
| Q1 25 | $654.6M | $647.2M | ||
| Q4 24 | $683.6M | $616.8M | ||
| Q3 24 | $680.0M | $658.0M | ||
| Q2 24 | $686.7M | $661.5M |
| Q1 26 | $13.0M | — | ||
| Q4 25 | — | $-47.4M | ||
| Q3 25 | $14.3M | $44.4M | ||
| Q2 25 | $972.0K | $51.2M | ||
| Q1 25 | $3.6M | $49.6M | ||
| Q4 24 | — | $41.0M | ||
| Q3 24 | $15.4M | $46.1M | ||
| Q2 24 | $15.5M | $47.3M |
| Q1 26 | 10.2% | — | ||
| Q4 25 | 10.2% | 23.1% | ||
| Q3 25 | 9.7% | 22.3% | ||
| Q2 25 | 9.7% | 24.2% | ||
| Q1 25 | 9.7% | 25.6% | ||
| Q4 24 | 9.9% | 24.3% | ||
| Q3 24 | 9.8% | 25.2% | ||
| Q2 24 | 9.9% | 24.6% |
| Q1 26 | 3.2% | — | ||
| Q4 25 | 2.8% | 11.1% | ||
| Q3 25 | 3.4% | 9.9% | ||
| Q2 25 | 3.1% | 11.1% | ||
| Q1 25 | 1.8% | 11.5% | ||
| Q4 24 | 4.2% | 9.6% | ||
| Q3 24 | 4.1% | 11.4% | ||
| Q2 24 | 4.0% | 11.2% |
| Q1 26 | 1.9% | — | ||
| Q4 25 | — | -5.9% | ||
| Q3 25 | 2.0% | 6.0% | ||
| Q2 25 | 0.1% | 7.5% | ||
| Q1 25 | 0.6% | 7.7% | ||
| Q4 24 | — | 6.6% | ||
| Q3 24 | 2.3% | 7.0% | ||
| Q2 24 | 2.3% | 7.2% |
| Q1 26 | $0.17 | — | ||
| Q4 25 | $0.16 | $-0.90 | ||
| Q3 25 | $0.39 | $0.83 | ||
| Q2 25 | $0.03 | $0.95 | ||
| Q1 25 | $0.10 | $0.92 | ||
| Q4 24 | $0.43 | $0.76 | ||
| Q3 24 | $0.42 | $0.86 | ||
| Q2 24 | $0.43 | $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 | $324.9M | $98.7M |
| Total DebtLower is stronger | — | $570.7M |
| Stockholders' EquityBook value | — | $1.1B |
| Total Assets | $2.1B | $2.5B |
| Debt / EquityLower = less leverage | — | 0.51× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $324.9M | — | ||
| Q4 25 | $322.1M | $98.7M | ||
| Q3 25 | $285.4M | $83.8M | ||
| Q2 25 | $264.6M | $124.5M | ||
| Q1 25 | $355.3M | $71.6M | ||
| Q4 24 | $315.2M | $83.8M | ||
| Q3 24 | $324.4M | $78.6M | ||
| Q2 24 | $309.3M | $72.9M |
| Q1 26 | — | — | ||
| Q4 25 | $206.8M | $570.7M | ||
| Q3 25 | $212.6M | $525.8M | ||
| Q2 25 | $203.4M | $482.1M | ||
| Q1 25 | $268.9M | $296.7M | ||
| Q4 24 | $250.5M | $330.0M | ||
| Q3 24 | $272.0M | $359.1M | ||
| Q2 24 | $283.6M | $405.7M |
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $1.1B | ||
| Q3 25 | $1.1B | $1.1B | ||
| Q2 25 | $1.1B | $1.0B | ||
| Q1 25 | $1.1B | $910.2M | ||
| Q4 24 | $1.1B | $855.1M | ||
| Q3 24 | $1.1B | $858.8M | ||
| Q2 24 | $1.1B | $788.4M |
| Q1 26 | $2.1B | — | ||
| Q4 25 | $2.1B | $2.5B | ||
| Q3 25 | $2.1B | $2.4B | ||
| Q2 25 | $2.0B | $2.2B | ||
| Q1 25 | $2.1B | $1.9B | ||
| Q4 24 | $2.1B | $1.8B | ||
| Q3 24 | $2.1B | $1.9B | ||
| Q2 24 | $2.2B | $1.9B |
| Q1 26 | — | — | ||
| Q4 25 | 0.19× | 0.51× | ||
| Q3 25 | 0.19× | 0.50× | ||
| Q2 25 | 0.18× | 0.48× | ||
| Q1 25 | 0.24× | 0.33× | ||
| Q4 24 | 0.23× | 0.39× | ||
| Q3 24 | 0.25× | 0.42× | ||
| Q2 24 | 0.26× | 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 | $47.0M | $24.7M |
| Free Cash FlowOCF − Capex | $48.1M | $-17.1M |
| FCF MarginFCF / Revenue | 7.1% | -2.1% |
| Capex IntensityCapex / Revenue | — | 5.2% |
| Cash ConversionOCF / Net Profit | 3.61× | — |
| TTM Free Cash FlowTrailing 4 quarters | $108.3M | $-20.3M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $47.0M | — | ||
| Q4 25 | $58.7M | $24.7M | ||
| Q3 25 | $36.6M | $1.4M | ||
| Q2 25 | $-2.8M | $27.7M | ||
| Q1 25 | $31.5M | $54.8M | ||
| Q4 24 | $45.9M | $60.7M | ||
| Q3 24 | $39.0M | $57.3M | ||
| Q2 24 | $55.8M | $40.5M |
| Q1 26 | $48.1M | — | ||
| Q4 25 | $48.2M | $-17.1M | ||
| Q3 25 | $25.8M | $-30.5M | ||
| Q2 25 | $-13.8M | $200.0K | ||
| Q1 25 | $28.1M | $27.1M | ||
| Q4 24 | $37.2M | $44.7M | ||
| Q3 24 | $29.2M | $43.8M | ||
| Q2 24 | $48.2M | $13.7M |
| Q1 26 | 7.1% | — | ||
| Q4 25 | 6.6% | -2.1% | ||
| Q3 25 | 3.7% | -4.1% | ||
| Q2 25 | -2.1% | 0.0% | ||
| Q1 25 | 4.3% | 4.2% | ||
| Q4 24 | 5.4% | 7.2% | ||
| Q3 24 | 4.3% | 6.7% | ||
| Q2 24 | 7.0% | 2.1% |
| Q1 26 | — | — | ||
| Q4 25 | 1.4% | 5.2% | ||
| Q3 25 | 1.5% | 4.3% | ||
| Q2 25 | 1.7% | 4.0% | ||
| Q1 25 | 0.5% | 4.3% | ||
| Q4 24 | 1.3% | 2.6% | ||
| Q3 24 | 1.4% | 2.1% | ||
| Q2 24 | 1.1% | 4.1% |
| Q1 26 | 3.61× | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 2.57× | 0.03× | ||
| Q2 25 | -2.90× | 0.54× | ||
| Q1 25 | 8.65× | 1.10× | ||
| Q4 24 | — | 1.48× | ||
| Q3 24 | 2.54× | 1.24× | ||
| Q2 24 | 3.59× | 0.86× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BHE
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% |
