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Side-by-side financial comparison of BXP, Inc. (BXP) and MODINE MANUFACTURING CO (MOD). Click either name above to swap in a different company.
BXP, Inc. is the larger business by last-quarter revenue ($872.1M vs $805.0M, roughly 1.1× MODINE MANUFACTURING CO). BXP, Inc. runs the higher net margin — 15.3% vs -5.9%, a 21.1% gap on every dollar of revenue. On growth, MODINE MANUFACTURING CO posted the faster year-over-year revenue change (30.5% vs 0.8%). Over the past eight quarters, MODINE MANUFACTURING CO's revenue compounded faster (15.5% CAGR vs 1.3%).
BXP Inc., operating as Boston Properties, is a leading U.S. real estate investment trust focused on owning, managing and developing high-quality Class A commercial office properties across major U.S. metro markets, serving diverse corporate, tech and professional service tenants.
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...
BXP vs MOD — Head-to-Head
Income Statement — Q1 FY2026 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $872.1M | $805.0M |
| Net Profit | $133.0M | $-47.4M |
| Gross Margin | — | 23.1% |
| Operating Margin | — | 11.1% |
| Net Margin | 15.3% | -5.9% |
| Revenue YoY | 0.8% | 30.5% |
| Net Profit YoY | 53.0% | -215.6% |
| EPS (diluted) | $1.69 | $-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 | $872.1M | — | ||
| Q4 25 | $877.1M | $805.0M | ||
| Q3 25 | $871.5M | $738.9M | ||
| Q2 25 | $868.5M | $682.8M | ||
| Q1 25 | $865.2M | $647.2M | ||
| Q4 24 | $858.6M | $616.8M | ||
| Q3 24 | $859.2M | $658.0M | ||
| Q2 24 | $850.5M | $661.5M |
| Q1 26 | $133.0M | — | ||
| Q4 25 | $248.4M | $-47.4M | ||
| Q3 25 | $-121.7M | $44.4M | ||
| Q2 25 | $89.0M | $51.2M | ||
| Q1 25 | $61.2M | $49.6M | ||
| Q4 24 | $-228.9M | $41.0M | ||
| Q3 24 | $83.6M | $46.1M | ||
| Q2 24 | $79.6M | $47.3M |
| Q1 26 | — | — | ||
| Q4 25 | 58.8% | 23.1% | ||
| Q3 25 | 59.3% | 22.3% | ||
| Q2 25 | 59.2% | 24.2% | ||
| Q1 25 | 59.2% | 25.6% | ||
| Q4 24 | 59.7% | 24.3% | ||
| Q3 24 | 59.5% | 25.2% | ||
| Q2 24 | 59.8% | 24.6% |
| Q1 26 | — | — | ||
| Q4 25 | — | 11.1% | ||
| Q3 25 | — | 9.9% | ||
| Q2 25 | — | 11.1% | ||
| Q1 25 | — | 11.5% | ||
| Q4 24 | — | 9.6% | ||
| Q3 24 | — | 11.4% | ||
| Q2 24 | — | 11.2% |
| Q1 26 | 15.3% | — | ||
| Q4 25 | 28.3% | -5.9% | ||
| Q3 25 | -14.0% | 6.0% | ||
| Q2 25 | 10.2% | 7.5% | ||
| Q1 25 | 7.1% | 7.7% | ||
| Q4 24 | -26.7% | 6.6% | ||
| Q3 24 | 9.7% | 7.0% | ||
| Q2 24 | 9.4% | 7.2% |
| Q1 26 | $1.69 | — | ||
| Q4 25 | $1.56 | $-0.90 | ||
| Q3 25 | $-0.77 | $0.83 | ||
| Q2 25 | $0.56 | $0.95 | ||
| Q1 25 | $0.39 | $0.92 | ||
| Q4 24 | $-1.46 | $0.76 | ||
| Q3 24 | $0.53 | $0.86 | ||
| Q2 24 | $0.51 | $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 | $512.8M | $98.7M |
| Total DebtLower is stronger | — | $570.7M |
| Stockholders' EquityBook value | $7.7B | $1.1B |
| Total Assets | $25.1B | $2.5B |
| Debt / EquityLower = less leverage | — | 0.51× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $512.8M | — | ||
| Q4 25 | $1.5B | $98.7M | ||
| Q3 25 | $861.1M | $83.8M | ||
| Q2 25 | $447.0M | $124.5M | ||
| Q1 25 | $398.1M | $71.6M | ||
| Q4 24 | $1.3B | $83.8M | ||
| Q3 24 | $1.4B | $78.6M | ||
| Q2 24 | $685.4M | $72.9M |
| Q1 26 | — | — | ||
| 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 | $7.7B | — | ||
| Q4 25 | $5.1B | $1.1B | ||
| Q3 25 | $5.0B | $1.1B | ||
| Q2 25 | $5.3B | $1.0B | ||
| Q1 25 | $5.3B | $910.2M | ||
| Q4 24 | $5.4B | $855.1M | ||
| Q3 24 | $5.8B | $858.8M | ||
| Q2 24 | $5.8B | $788.4M |
| Q1 26 | $25.1B | — | ||
| Q4 25 | $26.2B | $2.5B | ||
| Q3 25 | $26.0B | $2.4B | ||
| Q2 25 | $25.6B | $2.2B | ||
| Q1 25 | $25.4B | $1.9B | ||
| Q4 24 | $26.1B | $1.8B | ||
| Q3 24 | $26.4B | $1.9B | ||
| Q2 24 | $25.5B | $1.9B |
| Q1 26 | — | — | ||
| 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 | — | $-17.1M |
| FCF MarginFCF / Revenue | — | -2.1% |
| Capex IntensityCapex / Revenue | 1.5% | 5.2% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-20.3M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $407.8M | $24.7M | ||
| Q3 25 | $274.2M | $1.4M | ||
| Q2 25 | $353.1M | $27.7M | ||
| Q1 25 | $210.0M | $54.8M | ||
| Q4 24 | $383.7M | $60.7M | ||
| Q3 24 | $286.1M | $57.3M | ||
| Q2 24 | $367.1M | $40.5M |
| Q1 26 | — | — | ||
| Q4 25 | $362.7M | $-17.1M | ||
| Q3 25 | $231.6M | $-30.5M | ||
| Q2 25 | $281.5M | $200.0K | ||
| Q1 25 | $152.6M | $27.1M | ||
| Q4 24 | $312.5M | $44.7M | ||
| Q3 24 | $234.5M | $43.8M | ||
| Q2 24 | $332.4M | $13.7M |
| Q1 26 | — | — | ||
| Q4 25 | 41.4% | -2.1% | ||
| Q3 25 | 26.6% | -4.1% | ||
| Q2 25 | 32.4% | 0.0% | ||
| Q1 25 | 17.6% | 4.2% | ||
| Q4 24 | 36.4% | 7.2% | ||
| Q3 24 | 27.3% | 6.7% | ||
| Q2 24 | 39.1% | 2.1% |
| Q1 26 | 1.5% | — | ||
| Q4 25 | 5.1% | 5.2% | ||
| Q3 25 | 4.9% | 4.3% | ||
| Q2 25 | 8.2% | 4.0% | ||
| Q1 25 | 6.6% | 4.3% | ||
| Q4 24 | 8.3% | 2.6% | ||
| Q3 24 | 6.0% | 2.1% | ||
| Q2 24 | 4.1% | 4.1% |
| Q1 26 | — | — | ||
| Q4 25 | 1.64× | — | ||
| Q3 25 | — | 0.03× | ||
| Q2 25 | 3.97× | 0.54× | ||
| Q1 25 | 3.43× | 1.10× | ||
| Q4 24 | — | 1.48× | ||
| Q3 24 | 3.42× | 1.24× | ||
| Q2 24 | 4.61× | 0.86× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BXP
| Lease | $818.2M | 94% |
| Parking and other | $30.8M | 4% |
| Development and management services | $9.2M | 1% |
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% |
