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Side-by-side financial comparison of Elanco Animal Health Inc (ELAN) and MODINE MANUFACTURING CO (MOD). Click either name above to swap in a different company.
Elanco Animal Health Inc is the larger business by last-quarter revenue ($1.1B vs $805.0M, roughly 1.4× MODINE MANUFACTURING CO). MODINE MANUFACTURING CO runs the higher net margin — -5.9% vs -24.1%, a 18.2% gap on every dollar of revenue. On growth, MODINE MANUFACTURING CO posted the faster year-over-year revenue change (30.5% vs 12.2%). Elanco Animal Health Inc produced more free cash flow last quarter ($46.0M vs $-17.1M). Over the past eight quarters, MODINE MANUFACTURING CO's revenue compounded faster (15.5% CAGR vs -2.6%).
Elanco Animal Health Incorporated is an American pharmaceutical company which produces medicines and vaccinations for pets and livestock. Until 2019, the company was a subsidiary of Eli Lilly and Company, before being divested. It is the third-largest animal health company in the world.
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...
ELAN vs MOD — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.1B | $805.0M |
| Net Profit | $-276.0M | $-47.4M |
| Gross Margin | 51.5% | 23.1% |
| Operating Margin | -22.6% | 11.1% |
| Net Margin | -24.1% | -5.9% |
| Revenue YoY | 12.2% | 30.5% |
| Net Profit YoY | -3350.0% | -215.6% |
| EPS (diluted) | $-0.55 | $-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 | $1.1B | $805.0M | ||
| Q3 25 | $1.1B | $738.9M | ||
| Q2 25 | $1.2B | $682.8M | ||
| Q1 25 | $1.2B | $647.2M | ||
| Q4 24 | $1.0B | $616.8M | ||
| Q3 24 | $1.0B | $658.0M | ||
| Q2 24 | $1.2B | $661.5M | ||
| Q1 24 | $1.2B | $603.5M |
| Q4 25 | $-276.0M | $-47.4M | ||
| Q3 25 | $-34.0M | $44.4M | ||
| Q2 25 | $11.0M | $51.2M | ||
| Q1 25 | $67.0M | $49.6M | ||
| Q4 24 | $-8.0M | $41.0M | ||
| Q3 24 | $364.0M | $46.1M | ||
| Q2 24 | $-50.0M | $47.3M | ||
| Q1 24 | $32.0M | $25.8M |
| Q4 25 | 51.5% | 23.1% | ||
| Q3 25 | 53.4% | 22.3% | ||
| Q2 25 | 57.5% | 24.2% | ||
| Q1 25 | 57.3% | 25.6% | ||
| Q4 24 | 50.9% | 24.3% | ||
| Q3 24 | 52.2% | 25.2% | ||
| Q2 24 | 58.2% | 24.6% | ||
| Q1 24 | 57.3% | 22.4% |
| Q4 25 | -22.6% | 11.1% | ||
| Q3 25 | -4.4% | 9.9% | ||
| Q2 25 | 2.0% | 11.1% | ||
| Q1 25 | 5.0% | 11.5% | ||
| Q4 24 | -5.0% | 9.6% | ||
| Q3 24 | 54.3% | 11.4% | ||
| Q2 24 | -2.7% | 11.2% | ||
| Q1 24 | 1.0% | 7.8% |
| Q4 25 | -24.1% | -5.9% | ||
| Q3 25 | -3.0% | 6.0% | ||
| Q2 25 | 0.9% | 7.5% | ||
| Q1 25 | 5.6% | 7.7% | ||
| Q4 24 | -0.8% | 6.6% | ||
| Q3 24 | 35.3% | 7.0% | ||
| Q2 24 | -4.2% | 7.2% | ||
| Q1 24 | 2.7% | 4.3% |
| Q4 25 | $-0.55 | $-0.90 | ||
| Q3 25 | $-0.07 | $0.83 | ||
| Q2 25 | $0.02 | $0.95 | ||
| Q1 25 | $0.13 | $0.92 | ||
| Q4 24 | $-0.01 | $0.76 | ||
| Q3 24 | $0.73 | $0.86 | ||
| Q2 24 | $-0.10 | $0.88 | ||
| Q1 24 | $0.06 | $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 | $545.0M | $98.7M |
| Total DebtLower is stronger | $3.9B | $570.7M |
| Stockholders' EquityBook value | $6.5B | $1.1B |
| Total Assets | $13.4B | $2.5B |
| Debt / EquityLower = less leverage | 0.60× | 0.51× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $545.0M | $98.7M | ||
| Q3 25 | $505.0M | $83.8M | ||
| Q2 25 | $539.0M | $124.5M | ||
| Q1 25 | $487.0M | $71.6M | ||
| Q4 24 | $468.0M | $83.8M | ||
| Q3 24 | $490.0M | $78.6M | ||
| Q2 24 | $416.0M | $72.9M | ||
| Q1 24 | $345.0M | $60.1M |
| Q4 25 | $3.9B | $570.7M | ||
| Q3 25 | $4.0B | $525.8M | ||
| Q2 25 | $4.1B | $482.1M | ||
| Q1 25 | $4.4B | $296.7M | ||
| Q4 24 | $4.3B | $330.0M | ||
| Q3 24 | $4.4B | $359.1M | ||
| Q2 24 | $5.7B | $405.7M | ||
| Q1 24 | $5.8B | $399.9M |
| Q4 25 | $6.5B | $1.1B | ||
| Q3 25 | $6.7B | $1.1B | ||
| Q2 25 | $6.8B | $1.0B | ||
| Q1 25 | $6.4B | $910.2M | ||
| Q4 24 | $6.1B | $855.1M | ||
| Q3 24 | $6.5B | $858.8M | ||
| Q2 24 | $5.9B | $788.4M | ||
| Q1 24 | $6.1B | $747.6M |
| Q4 25 | $13.4B | $2.5B | ||
| Q3 25 | $13.6B | $2.4B | ||
| Q2 25 | $13.7B | $2.2B | ||
| Q1 25 | $12.9B | $1.9B | ||
| Q4 24 | $12.6B | $1.8B | ||
| Q3 24 | $13.3B | $1.9B | ||
| Q2 24 | $13.8B | $1.9B | ||
| Q1 24 | $14.0B | $1.9B |
| Q4 25 | 0.60× | 0.51× | ||
| Q3 25 | 0.59× | 0.50× | ||
| Q2 25 | 0.61× | 0.48× | ||
| Q1 25 | 0.69× | 0.33× | ||
| Q4 24 | 0.70× | 0.39× | ||
| Q3 24 | 0.67× | 0.42× | ||
| Q2 24 | 0.96× | 0.51× | ||
| Q1 24 | 0.95× | 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 | $108.0M | $24.7M |
| Free Cash FlowOCF − Capex | $46.0M | $-17.1M |
| FCF MarginFCF / Revenue | 4.0% | -2.1% |
| Capex IntensityCapex / Revenue | 5.4% | 5.2% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $284.0M | $-20.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $108.0M | $24.7M | ||
| Q3 25 | $219.0M | $1.4M | ||
| Q2 25 | $237.0M | $27.7M | ||
| Q1 25 | $-4.0M | $54.8M | ||
| Q4 24 | $177.0M | $60.7M | ||
| Q3 24 | $162.0M | $57.3M | ||
| Q2 24 | $200.0M | $40.5M | ||
| Q1 24 | $2.0M | $39.6M |
| Q4 25 | $46.0M | $-17.1M | ||
| Q3 25 | $127.0M | $-30.5M | ||
| Q2 25 | $180.0M | $200.0K | ||
| Q1 25 | $-69.0M | $27.1M | ||
| Q4 24 | $130.0M | $44.7M | ||
| Q3 24 | $120.0M | $43.8M | ||
| Q2 24 | $166.0M | $13.7M | ||
| Q1 24 | $-22.0M | $-4.3M |
| Q4 25 | 4.0% | -2.1% | ||
| Q3 25 | 11.2% | -4.1% | ||
| Q2 25 | 14.5% | 0.0% | ||
| Q1 25 | -5.8% | 4.2% | ||
| Q4 24 | 12.7% | 7.2% | ||
| Q3 24 | 11.7% | 6.7% | ||
| Q2 24 | 14.0% | 2.1% | ||
| Q1 24 | -1.8% | -0.7% |
| Q4 25 | 5.4% | 5.2% | ||
| Q3 25 | 8.1% | 4.3% | ||
| Q2 25 | 4.6% | 4.0% | ||
| Q1 25 | 5.4% | 4.3% | ||
| Q4 24 | 4.6% | 2.6% | ||
| Q3 24 | 4.1% | 2.1% | ||
| Q2 24 | 2.9% | 4.1% | ||
| Q1 24 | 2.0% | 7.3% |
| Q4 25 | — | — | ||
| Q3 25 | — | 0.03× | ||
| Q2 25 | 21.55× | 0.54× | ||
| Q1 25 | -0.06× | 1.10× | ||
| Q4 24 | — | 1.48× | ||
| Q3 24 | 0.45× | 1.24× | ||
| Q2 24 | — | 0.86× | ||
| Q1 24 | 0.06× | 1.53× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ELAN
| Pet Health | $489.0M | 43% |
| Cattle | $296.0M | 26% |
| Poultry | $237.0M | 21% |
| Swine | $107.0M | 9% |
| Contract Manufacturing | $15.0M | 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% |
