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Side-by-side financial comparison of Keysight Technologies (KEYS) and MODINE MANUFACTURING CO (MOD). Click either name above to swap in a different company.
Keysight Technologies is the larger business by last-quarter revenue ($1.4B vs $805.0M, roughly 1.8× MODINE MANUFACTURING CO). Keysight Technologies runs the higher net margin — 16.4% vs -5.9%, a 22.3% gap on every dollar of revenue. On growth, MODINE MANUFACTURING CO posted the faster year-over-year revenue change (30.5% vs 10.3%). Keysight Technologies produced more free cash flow last quarter ($187.0M vs $-17.1M). Over the past eight quarters, MODINE MANUFACTURING CO's revenue compounded faster (15.5% CAGR vs 6.2%).
Keysight Technologies, Inc. is an American company that manufactures electronics test and measurement equipment and software. The company was formed as a spin-off of Agilent Technologies, which inherited and rebranded the test and measurement product lines developed and produced, from the late 1960s to the turn of the millennium, by Hewlett-Packard's Test and Measurement division. Its name is a portmanteau of key and insight.
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...
KEYS vs MOD — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.4B | $805.0M |
| Net Profit | $233.0M | $-47.4M |
| Gross Margin | 61.2% | 23.1% |
| Operating Margin | 15.3% | 11.1% |
| Net Margin | 16.4% | -5.9% |
| Revenue YoY | 10.3% | 30.5% |
| Net Profit YoY | 419.2% | -215.6% |
| EPS (diluted) | $1.35 | $-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 | $1.4B | $805.0M | ||
| Q3 25 | $1.4B | $738.9M | ||
| Q2 25 | $1.3B | $682.8M | ||
| Q1 25 | $1.3B | $647.2M | ||
| Q4 24 | $1.3B | $616.8M | ||
| Q3 24 | $1.2B | $658.0M | ||
| Q2 24 | $1.2B | $661.5M | ||
| Q1 24 | $1.3B | $603.5M |
| Q4 25 | $233.0M | $-47.4M | ||
| Q3 25 | $191.0M | $44.4M | ||
| Q2 25 | $257.0M | $51.2M | ||
| Q1 25 | $169.0M | $49.6M | ||
| Q4 24 | $-73.0M | $41.0M | ||
| Q3 24 | $389.0M | $46.1M | ||
| Q2 24 | $126.0M | $47.3M | ||
| Q1 24 | $172.0M | $25.8M |
| Q4 25 | 61.2% | 23.1% | ||
| Q3 25 | 61.7% | 22.3% | ||
| Q2 25 | 62.3% | 24.2% | ||
| Q1 25 | 63.2% | 25.6% | ||
| Q4 24 | 62.3% | 24.3% | ||
| Q3 24 | 62.0% | 25.2% | ||
| Q2 24 | 62.7% | 24.6% | ||
| Q1 24 | 64.6% | 22.4% |
| Q4 25 | 15.3% | 11.1% | ||
| Q3 25 | 17.3% | 9.9% | ||
| Q2 25 | 15.8% | 11.1% | ||
| Q1 25 | 16.8% | 11.5% | ||
| Q4 24 | 17.9% | 9.6% | ||
| Q3 24 | 16.8% | 11.4% | ||
| Q2 24 | 14.6% | 11.2% | ||
| Q1 24 | 17.6% | 7.8% |
| Q4 25 | 16.4% | -5.9% | ||
| Q3 25 | 14.1% | 6.0% | ||
| Q2 25 | 19.7% | 7.5% | ||
| Q1 25 | 13.0% | 7.7% | ||
| Q4 24 | -5.7% | 6.6% | ||
| Q3 24 | 32.0% | 7.0% | ||
| Q2 24 | 10.4% | 7.2% | ||
| Q1 24 | 13.7% | 4.3% |
| Q4 25 | $1.35 | $-0.90 | ||
| Q3 25 | $1.10 | $0.83 | ||
| Q2 25 | $1.49 | $0.95 | ||
| Q1 25 | $0.97 | $0.92 | ||
| Q4 24 | $-0.41 | $0.76 | ||
| Q3 24 | $2.22 | $0.86 | ||
| Q2 24 | $0.72 | $0.88 | ||
| Q1 24 | $0.98 | $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 | $1.9B | $98.7M |
| Total DebtLower is stronger | $2.5B | $570.7M |
| Stockholders' EquityBook value | $5.9B | $1.1B |
| Total Assets | $11.3B | $2.5B |
| Debt / EquityLower = less leverage | 0.43× | 0.51× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.9B | $98.7M | ||
| Q3 25 | $2.6B | $83.8M | ||
| Q2 25 | $3.1B | $124.5M | ||
| Q1 25 | $2.1B | $71.6M | ||
| Q4 24 | $1.8B | $83.8M | ||
| Q3 24 | $1.6B | $78.6M | ||
| Q2 24 | $1.7B | $72.9M | ||
| Q1 24 | $1.7B | $60.1M |
| Q4 25 | $2.5B | $570.7M | ||
| Q3 25 | $2.5B | $525.8M | ||
| Q2 25 | $2.5B | $482.1M | ||
| Q1 25 | $1.8B | $296.7M | ||
| Q4 24 | $1.8B | $330.0M | ||
| Q3 24 | $1.8B | $359.1M | ||
| Q2 24 | $1.8B | $405.7M | ||
| Q1 24 | $1.8B | $399.9M |
| Q4 25 | $5.9B | $1.1B | ||
| Q3 25 | $5.7B | $1.1B | ||
| Q2 25 | $5.5B | $1.0B | ||
| Q1 25 | $5.2B | $910.2M | ||
| Q4 24 | $5.1B | $855.1M | ||
| Q3 24 | $5.2B | $858.8M | ||
| Q2 24 | $4.9B | $788.4M | ||
| Q1 24 | $4.8B | $747.6M |
| Q4 25 | $11.3B | $2.5B | ||
| Q3 25 | $10.7B | $2.4B | ||
| Q2 25 | $10.5B | $2.2B | ||
| Q1 25 | $9.4B | $1.9B | ||
| Q4 24 | $9.3B | $1.8B | ||
| Q3 24 | $9.3B | $1.9B | ||
| Q2 24 | $9.0B | $1.9B | ||
| Q1 24 | $9.1B | $1.9B |
| Q4 25 | 0.43× | 0.51× | ||
| Q3 25 | 0.45× | 0.50× | ||
| Q2 25 | 0.46× | 0.48× | ||
| Q1 25 | 0.35× | 0.33× | ||
| Q4 24 | 0.35× | 0.39× | ||
| Q3 24 | 0.34× | 0.42× | ||
| Q2 24 | 0.37× | 0.51× | ||
| Q1 24 | 0.38× | 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 | $225.0M | $24.7M |
| Free Cash FlowOCF − Capex | $187.0M | $-17.1M |
| FCF MarginFCF / Revenue | 13.2% | -2.1% |
| Capex IntensityCapex / Revenue | 2.7% | 5.2% |
| Cash ConversionOCF / Net Profit | 0.97× | — |
| TTM Free Cash FlowTrailing 4 quarters | $1.3B | $-20.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $225.0M | $24.7M | ||
| Q3 25 | $322.0M | $1.4M | ||
| Q2 25 | $484.0M | $27.7M | ||
| Q1 25 | $378.0M | $54.8M | ||
| Q4 24 | $359.0M | $60.7M | ||
| Q3 24 | $255.0M | $57.3M | ||
| Q2 24 | $110.0M | $40.5M | ||
| Q1 24 | $328.0M | $39.6M |
| Q4 25 | $187.0M | $-17.1M | ||
| Q3 25 | $291.0M | $-30.5M | ||
| Q2 25 | $457.0M | $200.0K | ||
| Q1 25 | $346.0M | $27.1M | ||
| Q4 24 | $321.0M | $44.7M | ||
| Q3 24 | $222.0M | $43.8M | ||
| Q2 24 | $74.0M | $13.7M | ||
| Q1 24 | $281.0M | $-4.3M |
| Q4 25 | 13.2% | -2.1% | ||
| Q3 25 | 21.5% | -4.1% | ||
| Q2 25 | 35.0% | 0.0% | ||
| Q1 25 | 26.7% | 4.2% | ||
| Q4 24 | 24.9% | 7.2% | ||
| Q3 24 | 18.2% | 6.7% | ||
| Q2 24 | 6.1% | 2.1% | ||
| Q1 24 | 22.3% | -0.7% |
| Q4 25 | 2.7% | 5.2% | ||
| Q3 25 | 2.3% | 4.3% | ||
| Q2 25 | 2.1% | 4.0% | ||
| Q1 25 | 2.5% | 4.3% | ||
| Q4 24 | 3.0% | 2.6% | ||
| Q3 24 | 2.7% | 2.1% | ||
| Q2 24 | 3.0% | 4.1% | ||
| Q1 24 | 3.7% | 7.3% |
| Q4 25 | 0.97× | — | ||
| Q3 25 | 1.69× | 0.03× | ||
| Q2 25 | 1.88× | 0.54× | ||
| Q1 25 | 2.24× | 1.10× | ||
| Q4 24 | — | 1.48× | ||
| Q3 24 | 0.66× | 1.24× | ||
| Q2 24 | 0.87× | 0.86× | ||
| Q1 24 | 1.91× | 1.53× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
KEYS
| Transferred At Point In Time | $790.0M | 56% |
| Electronicindustrial | $429.0M | 30% |
| Transferred Over Time | $200.0M | 14% |
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% |
