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Side-by-side financial comparison of Fabrinet (FN) and MODINE MANUFACTURING CO (MOD). Click either name above to swap in a different company.
Fabrinet is the larger business by last-quarter revenue ($1.1B vs $805.0M, roughly 1.4× MODINE MANUFACTURING CO). Fabrinet runs the higher net margin — 9.9% vs -5.9%, a 15.8% gap on every dollar of revenue. On growth, Fabrinet posted the faster year-over-year revenue change (35.9% vs 30.5%). Fabrinet produced more free cash flow last quarter ($-5.3M vs $-17.1M). Over the past eight quarters, Fabrinet's revenue compounded faster (24.4% CAGR vs 15.5%).
FabrinetFNEarnings & Financial Report
Below is a list of companies having stocks that are included in the S&P MidCap 400 stock market index. The index, maintained by S&P Dow Jones Indices, comprises the common stocks of 400 mid-cap, mostly American, companies. Although called the S&P 400, the index sometimes contains more than 400 stocks when it includes two or more share classes of stock from one of its component companies.
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...
FN vs MOD — Head-to-Head
Income Statement — Q2 FY2026 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.1B | $805.0M |
| Net Profit | $112.6M | $-47.4M |
| Gross Margin | 12.2% | 23.1% |
| Operating Margin | 10.1% | 11.1% |
| Net Margin | 9.9% | -5.9% |
| Revenue YoY | 35.9% | 30.5% |
| Net Profit YoY | 30.0% | -215.6% |
| EPS (diluted) | $3.11 | $-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 | $978.1M | $738.9M | ||
| Q2 25 | $909.7M | $682.8M | ||
| Q1 25 | $871.8M | $647.2M | ||
| Q4 24 | $833.6M | $616.8M | ||
| Q3 24 | $804.2M | $658.0M | ||
| Q2 24 | $753.3M | $661.5M | ||
| Q1 24 | $731.5M | $603.5M |
| Q4 25 | $112.6M | $-47.4M | ||
| Q3 25 | $95.9M | $44.4M | ||
| Q2 25 | $87.2M | $51.2M | ||
| Q1 25 | $81.3M | $49.6M | ||
| Q4 24 | $86.6M | $41.0M | ||
| Q3 24 | $77.4M | $46.1M | ||
| Q2 24 | $81.1M | $47.3M | ||
| Q1 24 | $80.9M | $25.8M |
| Q4 25 | 12.2% | 23.1% | ||
| Q3 25 | 11.9% | 22.3% | ||
| Q2 25 | 12.2% | 24.2% | ||
| Q1 25 | 11.7% | 25.6% | ||
| Q4 24 | 12.1% | 24.3% | ||
| Q3 24 | 12.3% | 25.2% | ||
| Q2 24 | 12.3% | 24.6% | ||
| Q1 24 | 12.4% | 22.4% |
| Q4 25 | 10.1% | 11.1% | ||
| Q3 25 | 9.6% | 9.9% | ||
| Q2 25 | 9.8% | 11.1% | ||
| Q1 25 | 9.0% | 11.5% | ||
| Q4 24 | 9.5% | 9.6% | ||
| Q3 24 | 9.6% | 11.4% | ||
| Q2 24 | 9.7% | 11.2% | ||
| Q1 24 | 9.7% | 7.8% |
| Q4 25 | 9.9% | -5.9% | ||
| Q3 25 | 9.8% | 6.0% | ||
| Q2 25 | 9.6% | 7.5% | ||
| Q1 25 | 9.3% | 7.7% | ||
| Q4 24 | 10.4% | 6.6% | ||
| Q3 24 | 9.6% | 7.0% | ||
| Q2 24 | 10.8% | 7.2% | ||
| Q1 24 | 11.1% | 4.3% |
| Q4 25 | $3.11 | $-0.90 | ||
| Q3 25 | $2.66 | $0.83 | ||
| Q2 25 | $2.41 | $0.95 | ||
| Q1 25 | $2.25 | $0.92 | ||
| Q4 24 | $2.38 | $0.76 | ||
| Q3 24 | $2.13 | $0.86 | ||
| Q2 24 | $2.22 | $0.88 | ||
| Q1 24 | $2.21 | $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 | $960.8M | $98.7M |
| Total DebtLower is stronger | — | $570.7M |
| Stockholders' EquityBook value | $2.2B | $1.1B |
| Total Assets | $3.3B | $2.5B |
| Debt / EquityLower = less leverage | — | 0.51× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $960.8M | $98.7M | ||
| Q3 25 | $968.8M | $83.8M | ||
| Q2 25 | $934.2M | $124.5M | ||
| Q1 25 | $950.7M | $71.6M | ||
| Q4 24 | $934.6M | $83.8M | ||
| Q3 24 | $908.9M | $78.6M | ||
| Q2 24 | $858.6M | $72.9M | ||
| Q1 24 | $794.0M | $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 | $2.2B | $1.1B | ||
| Q3 25 | $2.1B | $1.1B | ||
| Q2 25 | $2.0B | $1.0B | ||
| Q1 25 | $1.9B | $910.2M | ||
| Q4 24 | $1.8B | $855.1M | ||
| Q3 24 | $1.8B | $858.8M | ||
| Q2 24 | $1.7B | $788.4M | ||
| Q1 24 | $1.7B | $747.6M |
| Q4 25 | $3.3B | $2.5B | ||
| Q3 25 | $3.0B | $2.4B | ||
| Q2 25 | $2.8B | $2.2B | ||
| Q1 25 | $2.6B | $1.9B | ||
| Q4 24 | $2.5B | $1.8B | ||
| Q3 24 | $2.4B | $1.9B | ||
| Q2 24 | $2.3B | $1.9B | ||
| Q1 24 | $2.2B | $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 | $46.3M | $24.7M |
| Free Cash FlowOCF − Capex | $-5.3M | $-17.1M |
| FCF MarginFCF / Revenue | -0.5% | -2.1% |
| Capex IntensityCapex / Revenue | 4.6% | 5.2% |
| Cash ConversionOCF / Net Profit | 0.41× | — |
| TTM Free Cash FlowTrailing 4 quarters | $102.3M | $-20.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $46.3M | $24.7M | ||
| Q3 25 | $102.6M | $1.4M | ||
| Q2 25 | $55.1M | $27.7M | ||
| Q1 25 | $74.2M | $54.8M | ||
| Q4 24 | $115.9M | $60.7M | ||
| Q3 24 | $83.2M | $57.3M | ||
| Q2 24 | $83.1M | $40.5M | ||
| Q1 24 | $100.9M | $39.6M |
| Q4 25 | $-5.3M | $-17.1M | ||
| Q3 25 | $57.3M | $-30.5M | ||
| Q2 25 | $4.7M | $200.0K | ||
| Q1 25 | $45.7M | $27.1M | ||
| Q4 24 | $94.0M | $44.7M | ||
| Q3 24 | $62.9M | $43.8M | ||
| Q2 24 | $70.4M | $13.7M | ||
| Q1 24 | $87.3M | $-4.3M |
| Q4 25 | -0.5% | -2.1% | ||
| Q3 25 | 5.9% | -4.1% | ||
| Q2 25 | 0.5% | 0.0% | ||
| Q1 25 | 5.2% | 4.2% | ||
| Q4 24 | 11.3% | 7.2% | ||
| Q3 24 | 7.8% | 6.7% | ||
| Q2 24 | 9.3% | 2.1% | ||
| Q1 24 | 11.9% | -0.7% |
| Q4 25 | 4.6% | 5.2% | ||
| Q3 25 | 4.6% | 4.3% | ||
| Q2 25 | 5.5% | 4.0% | ||
| Q1 25 | 3.3% | 4.3% | ||
| Q4 24 | 2.6% | 2.6% | ||
| Q3 24 | 2.5% | 2.1% | ||
| Q2 24 | 1.7% | 4.1% | ||
| Q1 24 | 1.9% | 7.3% |
| Q4 25 | 0.41× | — | ||
| Q3 25 | 1.07× | 0.03× | ||
| Q2 25 | 0.63× | 0.54× | ||
| Q1 25 | 0.91× | 1.10× | ||
| Q4 24 | 1.34× | 1.48× | ||
| Q3 24 | 1.07× | 1.24× | ||
| Q2 24 | 1.02× | 0.86× | ||
| Q1 24 | 1.25× | 1.53× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FN
| Optical Communications | $832.6M | 73% |
| Non Optical Communications | $300.3M | 27% |
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% |
