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Side-by-side financial comparison of MODINE MANUFACTURING CO (MOD) and Madison Square Garden Entertainment Corp. (MSGE). Click either name above to swap in a different company.
MODINE MANUFACTURING CO is the larger business by last-quarter revenue ($805.0M vs $424.8M, roughly 1.9× Madison Square Garden Entertainment Corp.). Madison Square Garden Entertainment Corp. runs the higher net margin — 21.8% vs -5.9%, a 27.7% gap on every dollar of revenue. On growth, MODINE MANUFACTURING CO posted the faster year-over-year revenue change (30.5% vs 12.5%). Over the past eight quarters, Madison Square Garden Entertainment Corp.'s revenue compounded faster (48.9% CAGR vs 15.5%).
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...
Madison Square Garden Sports Corp. is an American sports holding company based in New York City.
MOD vs MSGE — Head-to-Head
Income Statement — Q3 FY2026 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $805.0M | $424.8M |
| Net Profit | $-47.4M | $92.7M |
| Gross Margin | 23.1% | — |
| Operating Margin | 11.1% | 38.6% |
| Net Margin | -5.9% | 21.8% |
| Revenue YoY | 30.5% | 12.5% |
| Net Profit YoY | -215.6% | 22.2% |
| EPS (diluted) | $-0.90 | $1.94 |
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 | $805.0M | $424.8M | ||
| Q3 25 | $738.9M | $154.1M | ||
| Q2 25 | $682.8M | $145.1M | ||
| Q1 25 | $647.2M | $206.0M | ||
| Q4 24 | $616.8M | $377.6M | ||
| Q3 24 | $658.0M | $134.1M | ||
| Q2 24 | $661.5M | $177.6M | ||
| Q1 24 | $603.5M | $191.6M |
| Q4 25 | $-47.4M | $92.7M | ||
| Q3 25 | $44.4M | $-21.7M | ||
| Q2 25 | $51.2M | $-27.2M | ||
| Q1 25 | $49.6M | $8.0M | ||
| Q4 24 | $41.0M | $75.9M | ||
| Q3 24 | $46.1M | $-19.3M | ||
| Q2 24 | $47.3M | $66.9M | ||
| Q1 24 | $25.8M | $2.8M |
| Q4 25 | 23.1% | — | ||
| Q3 25 | 22.3% | — | ||
| Q2 25 | 24.2% | — | ||
| Q1 25 | 25.6% | — | ||
| Q4 24 | 24.3% | — | ||
| Q3 24 | 25.2% | — | ||
| Q2 24 | 24.6% | — | ||
| Q1 24 | 22.4% | — |
| Q4 25 | 11.1% | 38.6% | ||
| Q3 25 | 9.9% | -19.3% | ||
| Q2 25 | 11.1% | -17.7% | ||
| Q1 25 | 11.5% | 13.3% | ||
| Q4 24 | 9.6% | 36.8% | ||
| Q3 24 | 11.4% | -13.8% | ||
| Q2 24 | 11.2% | -5.0% | ||
| Q1 24 | 7.8% | 8.8% |
| Q4 25 | -5.9% | 21.8% | ||
| Q3 25 | 6.0% | -14.0% | ||
| Q2 25 | 7.5% | -18.7% | ||
| Q1 25 | 7.7% | 3.9% | ||
| Q4 24 | 6.6% | 20.1% | ||
| Q3 24 | 7.0% | -14.4% | ||
| Q2 24 | 7.2% | 37.7% | ||
| Q1 24 | 4.3% | 1.5% |
| Q4 25 | $-0.90 | $1.94 | ||
| Q3 25 | $0.83 | $-0.46 | ||
| Q2 25 | $0.95 | $-0.56 | ||
| Q1 25 | $0.92 | $0.17 | ||
| Q4 24 | $0.76 | $1.56 | ||
| Q3 24 | $0.86 | $-0.40 | ||
| Q2 24 | $0.88 | $1.32 | ||
| Q1 24 | $0.48 | $0.06 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $98.7M | $157.1M |
| Total DebtLower is stronger | $570.7M | $554.6M |
| Stockholders' EquityBook value | $1.1B | $36.0M |
| Total Assets | $2.5B | $1.8B |
| Debt / EquityLower = less leverage | 0.51× | 15.40× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $98.7M | $157.1M | ||
| Q3 25 | $83.8M | $29.9M | ||
| Q2 25 | $124.5M | $43.0M | ||
| Q1 25 | $71.6M | $89.0M | ||
| Q4 24 | $83.8M | $54.9M | ||
| Q3 24 | $78.6M | $37.3M | ||
| Q2 24 | $72.9M | $33.3M | ||
| Q1 24 | $60.1M | $28.0M |
| Q4 25 | $570.7M | $554.6M | ||
| Q3 25 | $525.8M | $581.7M | ||
| Q2 25 | $482.1M | $568.8M | ||
| Q1 25 | $296.7M | $577.4M | ||
| Q4 24 | $330.0M | $584.7M | ||
| Q3 24 | $359.1M | $647.0M | ||
| Q2 24 | $405.7M | $599.2M | ||
| Q1 24 | $399.9M | $602.5M |
| Q4 25 | $1.1B | $36.0M | ||
| Q3 25 | $1.1B | $-65.8M | ||
| Q2 25 | $1.0B | $-13.3M | ||
| Q1 25 | $910.2M | $9.5M | ||
| Q4 24 | $855.1M | $10.3M | ||
| Q3 24 | $858.8M | $-48.7M | ||
| Q2 24 | $788.4M | $-23.2M | ||
| Q1 24 | $747.6M | $-94.6M |
| Q4 25 | $2.5B | $1.8B | ||
| Q3 25 | $2.4B | $1.7B | ||
| Q2 25 | $2.2B | $1.7B | ||
| Q1 25 | $1.9B | $1.7B | ||
| Q4 24 | $1.8B | $1.6B | ||
| Q3 24 | $1.9B | $1.6B | ||
| Q2 24 | $1.9B | $1.6B | ||
| Q1 24 | $1.9B | $1.5B |
| Q4 25 | 0.51× | 15.40× | ||
| Q3 25 | 0.50× | — | ||
| Q2 25 | 0.48× | — | ||
| Q1 25 | 0.33× | 60.61× | ||
| Q4 24 | 0.39× | 56.61× | ||
| 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 | $24.7M | $164.4M |
| Free Cash FlowOCF − Capex | $-17.1M | — |
| FCF MarginFCF / Revenue | -2.1% | — |
| Capex IntensityCapex / Revenue | 5.2% | — |
| Cash ConversionOCF / Net Profit | — | 1.77× |
| TTM Free Cash FlowTrailing 4 quarters | $-20.3M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $24.7M | $164.4M | ||
| Q3 25 | $1.4M | $19.8M | ||
| Q2 25 | $27.7M | $-27.0M | ||
| Q1 25 | $54.8M | $56.8M | ||
| Q4 24 | $60.7M | $112.9M | ||
| Q3 24 | $57.3M | $-27.4M | ||
| Q2 24 | $40.5M | $212.0K | ||
| Q1 24 | $39.6M | $5.8M |
| Q4 25 | $-17.1M | — | ||
| Q3 25 | $-30.5M | — | ||
| Q2 25 | $200.0K | — | ||
| Q1 25 | $27.1M | — | ||
| Q4 24 | $44.7M | — | ||
| Q3 24 | $43.8M | — | ||
| Q2 24 | $13.7M | — | ||
| Q1 24 | $-4.3M | — |
| Q4 25 | -2.1% | — | ||
| Q3 25 | -4.1% | — | ||
| Q2 25 | 0.0% | — | ||
| Q1 25 | 4.2% | — | ||
| Q4 24 | 7.2% | — | ||
| Q3 24 | 6.7% | — | ||
| Q2 24 | 2.1% | — | ||
| Q1 24 | -0.7% | — |
| Q4 25 | 5.2% | — | ||
| Q3 25 | 4.3% | — | ||
| Q2 25 | 4.0% | — | ||
| Q1 25 | 4.3% | — | ||
| Q4 24 | 2.6% | — | ||
| Q3 24 | 2.1% | — | ||
| Q2 24 | 4.1% | — | ||
| Q1 24 | 7.3% | — |
| Q4 25 | — | 1.77× | ||
| Q3 25 | 0.03× | — | ||
| Q2 25 | 0.54× | — | ||
| Q1 25 | 1.10× | 7.07× | ||
| Q4 24 | 1.48× | 1.49× | ||
| Q3 24 | 1.24× | — | ||
| Q2 24 | 0.86× | 0.00× | ||
| Q1 24 | 1.53× | 2.08× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
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% |
MSGE
| Ticketing And Venue License Fee Revenues | $263.5M | 62% |
| Food Beverage And Merchandise Revenues | $64.3M | 15% |
| Related Party | $43.9M | 10% |
| Arena Licensing Fees And Other Leasing Revenue | $35.2M | 8% |
| Other | $15.9M | 4% |
