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Side-by-side financial comparison of CAVCO INDUSTRIES, INC. (CVCO) 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 $581.0M, roughly 1.4× CAVCO INDUSTRIES, INC.). CAVCO INDUSTRIES, INC. runs the higher net margin — 7.6% vs -5.9%, a 13.5% gap on every dollar of revenue. On growth, MODINE MANUFACTURING CO posted the faster year-over-year revenue change (30.5% vs 11.3%). CAVCO INDUSTRIES, INC. produced more free cash flow last quarter ($57.6M vs $-17.1M). Over the past eight quarters, CAVCO INDUSTRIES, INC.'s revenue compounded faster (17.6% CAGR vs 15.5%).
Cavco Industries, Inc. is an American company that manufactures modular homes, Recreational vehicle (RVs), vacation cabins, and manufactured homes. The company operates through a network of manufacturing facilities and retail locations across the United States. Cavco is Headquartered in Phoenix, Arizona.
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...
CVCO vs MOD — Head-to-Head
Income Statement — Q3 FY2026 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $581.0M | $805.0M |
| Net Profit | $44.1M | $-47.4M |
| Gross Margin | 23.4% | 23.1% |
| Operating Margin | 9.4% | 11.1% |
| Net Margin | 7.6% | -5.9% |
| Revenue YoY | 11.3% | 30.5% |
| Net Profit YoY | -22.0% | -215.6% |
| EPS (diluted) | $5.58 | $-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 | $581.0M | $805.0M | ||
| Q3 25 | $556.5M | $738.9M | ||
| Q2 25 | $556.9M | $682.8M | ||
| Q1 25 | $508.4M | $647.2M | ||
| Q4 24 | $522.0M | $616.8M | ||
| Q3 24 | $507.5M | $658.0M | ||
| Q2 24 | $477.6M | $661.5M | ||
| Q1 24 | $420.1M | $603.5M |
| Q4 25 | $44.1M | $-47.4M | ||
| Q3 25 | $52.4M | $44.4M | ||
| Q2 25 | $51.6M | $51.2M | ||
| Q1 25 | $36.3M | $49.6M | ||
| Q4 24 | $56.5M | $41.0M | ||
| Q3 24 | $43.8M | $46.1M | ||
| Q2 24 | $34.4M | $47.3M | ||
| Q1 24 | $33.9M | $25.8M |
| Q4 25 | 23.4% | 23.1% | ||
| Q3 25 | 24.2% | 22.3% | ||
| Q2 25 | 23.3% | 24.2% | ||
| Q1 25 | 22.8% | 25.6% | ||
| Q4 24 | 24.9% | 24.3% | ||
| Q3 24 | 22.9% | 25.2% | ||
| Q2 24 | 21.7% | 24.6% | ||
| Q1 24 | 23.6% | 22.4% |
| Q4 25 | 9.4% | 11.1% | ||
| Q3 25 | 11.2% | 9.9% | ||
| Q2 25 | 10.8% | 11.1% | ||
| Q1 25 | 7.6% | 11.5% | ||
| Q4 24 | 12.3% | 9.6% | ||
| Q3 24 | 9.7% | 11.4% | ||
| Q2 24 | 8.1% | 11.2% | ||
| Q1 24 | 8.9% | 7.8% |
| Q4 25 | 7.6% | -5.9% | ||
| Q3 25 | 9.4% | 6.0% | ||
| Q2 25 | 9.3% | 7.5% | ||
| Q1 25 | 7.1% | 7.7% | ||
| Q4 24 | 10.8% | 6.6% | ||
| Q3 24 | 8.6% | 7.0% | ||
| Q2 24 | 7.2% | 7.2% | ||
| Q1 24 | 8.1% | 4.3% |
| Q4 25 | $5.58 | $-0.90 | ||
| Q3 25 | $6.55 | $0.83 | ||
| Q2 25 | $6.42 | $0.95 | ||
| Q1 25 | $4.42 | $0.92 | ||
| Q4 24 | $6.90 | $0.76 | ||
| Q3 24 | $5.28 | $0.86 | ||
| Q2 24 | $4.11 | $0.88 | ||
| Q1 24 | $4.05 | $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 | $241.9M | $98.7M |
| Total DebtLower is stronger | — | $570.7M |
| Stockholders' EquityBook value | $1.1B | $1.1B |
| Total Assets | $1.5B | $2.5B |
| Debt / EquityLower = less leverage | — | 0.51× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $241.9M | $98.7M | ||
| Q3 25 | $391.8M | $83.8M | ||
| Q2 25 | $362.4M | $124.5M | ||
| Q1 25 | $376.1M | $71.6M | ||
| Q4 24 | $378.9M | $83.8M | ||
| Q3 24 | $388.7M | $78.6M | ||
| Q2 24 | $380.0M | $72.9M | ||
| Q1 24 | $371.0M | $60.1M |
| 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 24 | — | $399.9M |
| 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 | $1.0B | $858.8M | ||
| Q2 24 | $1.0B | $788.4M | ||
| Q1 24 | $1.0B | $747.6M |
| Q4 25 | $1.5B | $2.5B | ||
| Q3 25 | $1.4B | $2.4B | ||
| Q2 25 | $1.4B | $2.2B | ||
| Q1 25 | $1.4B | $1.9B | ||
| Q4 24 | $1.4B | $1.8B | ||
| Q3 24 | $1.4B | $1.9B | ||
| Q2 24 | $1.4B | $1.9B | ||
| Q1 24 | $1.4B | $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 | $66.1M | $24.7M |
| Free Cash FlowOCF − Capex | $57.6M | $-17.1M |
| FCF MarginFCF / Revenue | 9.9% | -2.1% |
| Capex IntensityCapex / Revenue | 1.5% | 5.2% |
| Cash ConversionOCF / Net Profit | 1.50× | — |
| TTM Free Cash FlowTrailing 4 quarters | $205.3M | $-20.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $66.1M | $24.7M | ||
| Q3 25 | $78.5M | $1.4M | ||
| Q2 25 | $55.5M | $27.7M | ||
| Q1 25 | $38.6M | $54.8M | ||
| Q4 24 | $37.8M | $60.7M | ||
| Q3 24 | $54.7M | $57.3M | ||
| Q2 24 | $47.4M | $40.5M | ||
| Q1 24 | — | $39.6M |
| Q4 25 | $57.6M | $-17.1M | ||
| Q3 25 | $68.7M | $-30.5M | ||
| Q2 25 | $46.4M | $200.0K | ||
| Q1 25 | $32.5M | $27.1M | ||
| Q4 24 | $32.3M | $44.7M | ||
| Q3 24 | $49.8M | $43.8M | ||
| Q2 24 | $42.4M | $13.7M | ||
| Q1 24 | — | $-4.3M |
| Q4 25 | 9.9% | -2.1% | ||
| Q3 25 | 12.4% | -4.1% | ||
| Q2 25 | 8.3% | 0.0% | ||
| Q1 25 | 6.4% | 4.2% | ||
| Q4 24 | 6.2% | 7.2% | ||
| Q3 24 | 9.8% | 6.7% | ||
| Q2 24 | 8.9% | 2.1% | ||
| Q1 24 | — | -0.7% |
| Q4 25 | 1.5% | 5.2% | ||
| Q3 25 | 1.7% | 4.3% | ||
| Q2 25 | 1.6% | 4.0% | ||
| Q1 25 | 1.2% | 4.3% | ||
| Q4 24 | 1.0% | 2.6% | ||
| Q3 24 | 1.0% | 2.1% | ||
| Q2 24 | 1.0% | 4.1% | ||
| Q1 24 | — | 7.3% |
| Q4 25 | 1.50× | — | ||
| Q3 25 | 1.50× | 0.03× | ||
| Q2 25 | 1.08× | 0.54× | ||
| Q1 25 | 1.06× | 1.10× | ||
| Q4 24 | 0.67× | 1.48× | ||
| Q3 24 | 1.25× | 1.24× | ||
| Q2 24 | 1.38× | 0.86× | ||
| Q1 24 | — | 1.53× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CVCO
| Manufactured Product Other | $532.5M | 92% |
| Other | $26.0M | 4% |
| Financial Service Other | $20.5M | 4% |
| Insurance Agency Commissions | $2.0M | 0% |
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% |
