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Side-by-side financial comparison of Barnes & Noble Education, Inc. (BNED) 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 $598.2M, roughly 1.3× Barnes & Noble Education, Inc.). Barnes & Noble Education, Inc. runs the higher net margin — 4.2% vs -5.9%, a 10.1% gap on every dollar of revenue. On growth, MODINE MANUFACTURING CO posted the faster year-over-year revenue change (30.5% vs 6.9%). Barnes & Noble Education, Inc. produced more free cash flow last quarter ($61.9M vs $-17.1M). Over the past eight quarters, Barnes & Noble Education, Inc.'s revenue compounded faster (20.0% CAGR vs 15.5%).
Barnes & Noble Booksellers is an American bookseller with the largest number of retail outlets in the United States. The company operates approximately 700+ retail stores across the United States.
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...
BNED vs MOD — Head-to-Head
Income Statement — Q2 FY2026 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $598.2M | $805.0M |
| Net Profit | $25.0M | $-47.4M |
| Gross Margin | 21.7% | 23.1% |
| Operating Margin | 6.8% | 11.1% |
| Net Margin | 4.2% | -5.9% |
| Revenue YoY | 6.9% | 30.5% |
| Net Profit YoY | -49.7% | -215.6% |
| EPS (diluted) | $0.72 | $-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 | $598.2M | $805.0M | ||
| Q3 25 | $274.2M | $738.9M | ||
| Q2 25 | $233.0M | $682.8M | ||
| Q1 25 | $419.7M | $647.2M | ||
| Q4 24 | $559.7M | $616.8M | ||
| Q3 24 | $250.9M | $658.0M | ||
| Q2 24 | $192.7M | $661.5M | ||
| Q1 24 | $415.4M | $603.5M |
| Q4 25 | $25.0M | $-47.4M | ||
| Q3 25 | $-18.3M | $44.4M | ||
| Q2 25 | $-23.0M | $51.2M | ||
| Q1 25 | $17.9M | $49.6M | ||
| Q4 24 | $43.2M | $41.0M | ||
| Q3 24 | $-103.9M | $46.1M | ||
| Q2 24 | $-41.9M | $47.3M | ||
| Q1 24 | $-9.3M | $25.8M |
| Q4 25 | 21.7% | 23.1% | ||
| Q3 25 | 20.2% | 22.3% | ||
| Q2 25 | 30.3% | 24.2% | ||
| Q1 25 | 22.3% | 25.6% | ||
| Q4 24 | 23.0% | 24.3% | ||
| Q3 24 | 17.9% | 25.2% | ||
| Q2 24 | 28.7% | 24.6% | ||
| Q1 24 | 24.2% | 22.4% |
| Q4 25 | 6.8% | 11.1% | ||
| Q3 25 | -8.4% | 9.9% | ||
| Q2 25 | -4.9% | 11.1% | ||
| Q1 25 | 4.5% | 11.5% | ||
| Q4 24 | 8.4% | 9.6% | ||
| Q3 24 | -15.4% | 11.4% | ||
| Q2 24 | -16.3% | 11.2% | ||
| Q1 24 | 0.4% | 7.8% |
| Q4 25 | 4.2% | -5.9% | ||
| Q3 25 | -6.7% | 6.0% | ||
| Q2 25 | -9.9% | 7.5% | ||
| Q1 25 | 4.3% | 7.7% | ||
| Q4 24 | 7.7% | 6.6% | ||
| Q3 24 | -41.4% | 7.0% | ||
| Q2 24 | -21.7% | 7.2% | ||
| Q1 24 | -2.2% | 4.3% |
| Q4 25 | $0.72 | $-0.90 | ||
| Q3 25 | $-0.54 | $0.83 | ||
| Q2 25 | $2.97 | $0.95 | ||
| Q1 25 | $0.59 | $0.92 | ||
| Q4 24 | $1.63 | $0.76 | ||
| Q3 24 | $-7.69 | $0.86 | ||
| Q2 24 | $-15.68 | $0.88 | ||
| Q1 24 | $-3.49 | $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 | $11.7M | $98.7M |
| Total DebtLower is stronger | $122.5M | $570.7M |
| Stockholders' EquityBook value | $283.2M | $1.1B |
| Total Assets | $1.1B | $2.5B |
| Debt / EquityLower = less leverage | 0.43× | 0.51× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $11.7M | $98.7M | ||
| Q3 25 | $7.3M | $83.8M | ||
| Q2 25 | $9.1M | $124.5M | ||
| Q1 25 | $9.2M | $71.6M | ||
| Q4 24 | $11.6M | $83.8M | ||
| Q3 24 | $8.2M | $78.6M | ||
| Q2 24 | $10.5M | $72.9M | ||
| Q1 24 | $8.1M | $60.1M |
| Q4 25 | $122.5M | $570.7M | ||
| Q3 25 | $170.0M | $525.8M | ||
| Q2 25 | $103.1M | $482.1M | ||
| Q1 25 | $141.2M | $296.7M | ||
| Q4 24 | $177.6M | $330.0M | ||
| Q3 24 | $221.9M | $359.1M | ||
| Q2 24 | $196.3M | $405.7M | ||
| Q1 24 | $30.2M | $399.9M |
| Q4 25 | $283.2M | $1.1B | ||
| Q3 25 | $256.5M | $1.1B | ||
| Q2 25 | $272.2M | $1.0B | ||
| Q1 25 | $292.9M | $910.2M | ||
| Q4 24 | $211.4M | $855.1M | ||
| Q3 24 | $149.8M | $858.8M | ||
| Q2 24 | $80.4M | $788.4M | ||
| Q1 24 | $121.5M | $747.6M |
| Q4 25 | $1.1B | $2.5B | ||
| Q3 25 | $950.8M | $2.4B | ||
| Q2 25 | $790.3M | $2.2B | ||
| Q1 25 | $1.1B | $1.9B | ||
| Q4 24 | $1.0B | $1.8B | ||
| Q3 24 | $973.2M | $1.9B | ||
| Q2 24 | $909.9M | $1.9B | ||
| Q1 24 | $1.2B | $1.9B |
| Q4 25 | 0.43× | 0.51× | ||
| Q3 25 | 0.66× | 0.50× | ||
| Q2 25 | 0.38× | 0.48× | ||
| Q1 25 | 0.48× | 0.33× | ||
| Q4 24 | 0.84× | 0.39× | ||
| Q3 24 | 1.48× | 0.42× | ||
| Q2 24 | 2.44× | 0.51× | ||
| Q1 24 | 0.25× | 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 | $66.2M | $24.7M |
| Free Cash FlowOCF − Capex | $61.9M | $-17.1M |
| FCF MarginFCF / Revenue | 10.4% | -2.1% |
| Capex IntensityCapex / Revenue | 0.7% | 5.2% |
| Cash ConversionOCF / Net Profit | 2.65× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-4.6M | $-20.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $66.2M | $24.7M | ||
| Q3 25 | $-67.6M | $1.4M | ||
| Q2 25 | $52.6M | $27.7M | ||
| Q1 25 | $-41.9M | $54.8M | ||
| Q4 24 | $47.4M | $60.7M | ||
| Q3 24 | $-143.5M | $57.3M | ||
| Q2 24 | $81.7M | $40.5M | ||
| Q1 24 | $-35.8M | $39.6M |
| Q4 25 | $61.9M | $-17.1M | ||
| Q3 25 | $-71.3M | $-30.5M | ||
| Q2 25 | $49.5M | $200.0K | ||
| Q1 25 | $-44.7M | $27.1M | ||
| Q4 24 | $44.4M | $44.7M | ||
| Q3 24 | $-147.5M | $43.8M | ||
| Q2 24 | $79.1M | $13.7M | ||
| Q1 24 | $-39.0M | $-4.3M |
| Q4 25 | 10.4% | -2.1% | ||
| Q3 25 | -26.0% | -4.1% | ||
| Q2 25 | 21.3% | 0.0% | ||
| Q1 25 | -10.7% | 4.2% | ||
| Q4 24 | 7.9% | 7.2% | ||
| Q3 24 | -58.8% | 6.7% | ||
| Q2 24 | 41.1% | 2.1% | ||
| Q1 24 | -9.4% | -0.7% |
| Q4 25 | 0.7% | 5.2% | ||
| Q3 25 | 1.4% | 4.3% | ||
| Q2 25 | 1.3% | 4.0% | ||
| Q1 25 | 0.7% | 4.3% | ||
| Q4 24 | 0.5% | 2.6% | ||
| Q3 24 | 1.6% | 2.1% | ||
| Q2 24 | 1.4% | 4.1% | ||
| Q1 24 | 0.8% | 7.3% |
| Q4 25 | 2.65× | — | ||
| Q3 25 | — | 0.03× | ||
| Q2 25 | — | 0.54× | ||
| Q1 25 | -2.34× | 1.10× | ||
| Q4 24 | 1.10× | 1.48× | ||
| Q3 24 | — | 1.24× | ||
| Q2 24 | — | 0.86× | ||
| Q1 24 | — | 1.53× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BNED
| Course Materials Product | $459.3M | 77% |
| General Merchandise Product | $112.9M | 19% |
| Serviceand Other | $26.1M | 4% |
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% |
