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Side-by-side financial comparison of MODINE MANUFACTURING CO (MOD) and OCEANEERING INTERNATIONAL INC (OII). Click either name above to swap in a different company.
MODINE MANUFACTURING CO is the larger business by last-quarter revenue ($805.0M vs $692.4M, roughly 1.2× OCEANEERING INTERNATIONAL INC). OCEANEERING INTERNATIONAL INC runs the higher net margin — 5.2% vs -5.9%, a 11.1% gap on every dollar of revenue. On growth, MODINE MANUFACTURING CO posted the faster year-over-year revenue change (30.5% vs 3.6%). MODINE MANUFACTURING CO produced more free cash flow last quarter ($-17.1M vs $-76.5M). Over the past eight quarters, MODINE MANUFACTURING CO's revenue compounded faster (15.5% CAGR vs 1.8%).
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...
Oceaneering International, Inc. is a subsea engineering and applied technology company based in Houston, Texas, U.S. that provides engineered services and hardware to customers who operate in marine, space, and other environments.
MOD vs OII — Head-to-Head
Income Statement — Q3 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $805.0M | $692.4M |
| Net Profit | $-47.4M | $36.1M |
| Gross Margin | 23.1% | — |
| Operating Margin | 11.1% | — |
| Net Margin | -5.9% | 5.2% |
| Revenue YoY | 30.5% | 3.6% |
| Net Profit YoY | -215.6% | -28.3% |
| EPS (diluted) | $-0.90 | $0.36 |
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.
| Q1 26 | — | $692.4M | ||
| Q4 25 | $805.0M | $668.6M | ||
| Q3 25 | $738.9M | $742.9M | ||
| Q2 25 | $682.8M | $698.2M | ||
| Q1 25 | $647.2M | $674.5M | ||
| Q4 24 | $616.8M | $713.5M | ||
| Q3 24 | $658.0M | $679.8M | ||
| Q2 24 | $661.5M | $668.8M |
| Q1 26 | — | $36.1M | ||
| Q4 25 | $-47.4M | $177.7M | ||
| Q3 25 | $44.4M | $71.3M | ||
| Q2 25 | $51.2M | $54.4M | ||
| Q1 25 | $49.6M | $50.4M | ||
| Q4 24 | $41.0M | $56.1M | ||
| Q3 24 | $46.1M | $41.2M | ||
| Q2 24 | $47.3M | $35.0M |
| Q1 26 | — | — | ||
| Q4 25 | 23.1% | 19.8% | ||
| Q3 25 | 22.3% | 20.6% | ||
| Q2 25 | 24.2% | 21.3% | ||
| Q1 25 | 25.6% | 20.0% | ||
| Q4 24 | 24.3% | 19.9% | ||
| Q3 24 | 25.2% | 19.3% | ||
| Q2 24 | 24.6% | 18.0% |
| Q1 26 | — | — | ||
| Q4 25 | 11.1% | 9.8% | ||
| Q3 25 | 9.9% | 11.6% | ||
| Q2 25 | 11.1% | 11.3% | ||
| Q1 25 | 11.5% | 10.9% | ||
| Q4 24 | 9.6% | 10.9% | ||
| Q3 24 | 11.4% | 10.5% | ||
| Q2 24 | 11.2% | 9.0% |
| Q1 26 | — | 5.2% | ||
| Q4 25 | -5.9% | 26.6% | ||
| Q3 25 | 6.0% | 9.6% | ||
| Q2 25 | 7.5% | 7.8% | ||
| Q1 25 | 7.7% | 7.5% | ||
| Q4 24 | 6.6% | 7.9% | ||
| Q3 24 | 7.0% | 6.1% | ||
| Q2 24 | 7.2% | 5.2% |
| Q1 26 | — | $0.36 | ||
| Q4 25 | $-0.90 | $1.75 | ||
| Q3 25 | $0.83 | $0.71 | ||
| Q2 25 | $0.95 | $0.54 | ||
| Q1 25 | $0.92 | $0.49 | ||
| Q4 24 | $0.76 | $0.55 | ||
| Q3 24 | $0.86 | $0.40 | ||
| Q2 24 | $0.88 | $0.34 |
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 | — |
| Total DebtLower is stronger | $570.7M | $488.8M |
| Stockholders' EquityBook value | $1.1B | $1.1B |
| Total Assets | $2.5B | $2.6B |
| Debt / EquityLower = less leverage | 0.51× | 0.44× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $98.7M | $695.9M | ||
| Q3 25 | $83.8M | $7.0M | ||
| Q2 25 | $124.5M | $7.0M | ||
| Q1 25 | $71.6M | $7.0M | ||
| Q4 24 | $83.8M | $504.5M | ||
| Q3 24 | $78.6M | — | ||
| Q2 24 | $72.9M | — |
| Q1 26 | — | $488.8M | ||
| Q4 25 | $570.7M | $487.4M | ||
| Q3 25 | $525.8M | — | ||
| Q2 25 | $482.1M | — | ||
| Q1 25 | $296.7M | — | ||
| Q4 24 | $330.0M | $482.0M | ||
| Q3 24 | $359.1M | — | ||
| Q2 24 | $405.7M | — |
| Q1 26 | — | $1.1B | ||
| Q4 25 | $1.1B | $1.1B | ||
| Q3 25 | $1.1B | $907.7M | ||
| Q2 25 | $1.0B | $842.1M | ||
| Q1 25 | $910.2M | $773.1M | ||
| Q4 24 | $855.1M | $714.3M | ||
| Q3 24 | $858.8M | $698.0M | ||
| Q2 24 | $788.4M | $651.0M |
| Q1 26 | — | $2.6B | ||
| Q4 25 | $2.5B | $2.7B | ||
| Q3 25 | $2.4B | $2.5B | ||
| Q2 25 | $2.2B | $2.3B | ||
| Q1 25 | $1.9B | $2.3B | ||
| Q4 24 | $1.8B | $2.3B | ||
| Q3 24 | $1.9B | $2.4B | ||
| Q2 24 | $1.9B | $2.3B |
| Q1 26 | — | 0.44× | ||
| Q4 25 | 0.51× | 0.46× | ||
| Q3 25 | 0.50× | — | ||
| Q2 25 | 0.48× | — | ||
| Q1 25 | 0.33× | — | ||
| Q4 24 | 0.39× | 0.67× | ||
| Q3 24 | 0.42× | — | ||
| Q2 24 | 0.51× | — |
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 | — |
| Free Cash FlowOCF − Capex | $-17.1M | $-76.5M |
| FCF MarginFCF / Revenue | -2.1% | -11.1% |
| Capex IntensityCapex / Revenue | 5.2% | 2.5% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-20.3M | $238.1M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $24.7M | $221.1M | ||
| Q3 25 | $1.4M | $101.3M | ||
| Q2 25 | $27.7M | $77.2M | ||
| Q1 25 | $54.8M | $-80.7M | ||
| Q4 24 | $60.7M | $128.4M | ||
| Q3 24 | $57.3M | $91.9M | ||
| Q2 24 | $40.5M | $52.6M |
| Q1 26 | — | $-76.5M | ||
| Q4 25 | $-17.1M | $190.7M | ||
| Q3 25 | $-30.5M | $77.0M | ||
| Q2 25 | $200.0K | $46.9M | ||
| Q1 25 | $27.1M | $-106.8M | ||
| Q4 24 | $44.7M | $94.5M | ||
| Q3 24 | $43.8M | $67.0M | ||
| Q2 24 | $13.7M | $29.8M |
| Q1 26 | — | -11.1% | ||
| Q4 25 | -2.1% | 28.5% | ||
| Q3 25 | -4.1% | 10.4% | ||
| Q2 25 | 0.0% | 6.7% | ||
| Q1 25 | 4.2% | -15.8% | ||
| Q4 24 | 7.2% | 13.2% | ||
| Q3 24 | 6.7% | 9.9% | ||
| Q2 24 | 2.1% | 4.5% |
| Q1 26 | — | 2.5% | ||
| Q4 25 | 5.2% | 4.6% | ||
| Q3 25 | 4.3% | 3.3% | ||
| Q2 25 | 4.0% | 4.3% | ||
| Q1 25 | 4.3% | 3.9% | ||
| Q4 24 | 2.6% | 4.7% | ||
| Q3 24 | 2.1% | 3.7% | ||
| Q2 24 | 4.1% | 3.4% |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.24× | ||
| Q3 25 | 0.03× | 1.42× | ||
| Q2 25 | 0.54× | 1.42× | ||
| Q1 25 | 1.10× | -1.60× | ||
| Q4 24 | 1.48× | 2.29× | ||
| Q3 24 | 1.24× | 2.23× | ||
| Q2 24 | 0.86× | 1.50× |
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% |
OII
Segment breakdown not available.
