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Side-by-side financial comparison of MODINE MANUFACTURING CO (MOD) and ON Semiconductor (ON). Click either name above to swap in a different company.
ON Semiconductor is the larger business by last-quarter revenue ($1.6B vs $805.0M, roughly 1.9× MODINE MANUFACTURING CO). ON Semiconductor 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 -10.0%). ON Semiconductor produced more free cash flow last quarter ($372.4M vs $-17.1M). Over the past eight quarters, MODINE MANUFACTURING CO's revenue compounded faster (15.5% CAGR vs -12.3%).
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...
Fairchild Semiconductor International, Inc. was an American semiconductor company based in San Jose, California. It was founded in 1957 as a division of Fairchild Camera and Instrument by the "traitorous eight" who defected from Shockley Semiconductor Laboratory. It became a pioneer in the manufacturing of transistors and of integrated circuits. Schlumberger bought the firm in 1979 and sold it to National Semiconductor in 1987; Fairchild was spun off as an independent company again in 1997. I...
MOD vs ON — Head-to-Head
Income Statement — Q3 FY2026 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $805.0M | $1.6B |
| Net Profit | $-47.4M | $255.0M |
| Gross Margin | 23.1% | 37.9% |
| Operating Margin | 11.1% | 17.0% |
| Net Margin | -5.9% | 16.4% |
| Revenue YoY | 30.5% | -10.0% |
| Net Profit YoY | -215.6% | -32.9% |
| EPS (diluted) | $-0.90 | $0.63 |
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 | $1.6B | ||
| Q3 25 | $738.9M | $1.5B | ||
| Q2 25 | $682.8M | $1.4B | ||
| Q1 25 | $647.2M | — | ||
| Q4 24 | $616.8M | $1.7B | ||
| Q3 24 | $658.0M | $1.8B | ||
| Q2 24 | $661.5M | $1.7B | ||
| Q1 24 | $603.5M | $1.9B |
| Q4 25 | $-47.4M | $255.0M | ||
| Q3 25 | $44.4M | $170.3M | ||
| Q2 25 | $51.2M | $-486.1M | ||
| Q1 25 | $49.6M | — | ||
| Q4 24 | $41.0M | $379.9M | ||
| Q3 24 | $46.1M | $401.7M | ||
| Q2 24 | $47.3M | $338.2M | ||
| Q1 24 | $25.8M | $453.0M |
| Q4 25 | 23.1% | 37.9% | ||
| Q3 25 | 22.3% | 37.6% | ||
| Q2 25 | 24.2% | 20.3% | ||
| Q1 25 | 25.6% | — | ||
| Q4 24 | 24.3% | 45.2% | ||
| Q3 24 | 25.2% | 45.4% | ||
| Q2 24 | 24.6% | 45.2% | ||
| Q1 24 | 22.4% | 45.8% |
| Q4 25 | 11.1% | 17.0% | ||
| Q3 25 | 9.9% | 13.2% | ||
| Q2 25 | 11.1% | -39.7% | ||
| Q1 25 | 11.5% | — | ||
| Q4 24 | 9.6% | 23.7% | ||
| Q3 24 | 11.4% | 25.3% | ||
| Q2 24 | 11.2% | 22.4% | ||
| Q1 24 | 7.8% | 28.2% |
| Q4 25 | -5.9% | 16.4% | ||
| Q3 25 | 6.0% | 11.6% | ||
| Q2 25 | 7.5% | -33.6% | ||
| Q1 25 | 7.7% | — | ||
| Q4 24 | 6.6% | 22.1% | ||
| Q3 24 | 7.0% | 22.8% | ||
| Q2 24 | 7.2% | 19.5% | ||
| Q1 24 | 4.3% | 24.3% |
| Q4 25 | $-0.90 | $0.63 | ||
| Q3 25 | $0.83 | $0.41 | ||
| Q2 25 | $0.95 | $-1.15 | ||
| Q1 25 | $0.92 | — | ||
| Q4 24 | $0.76 | $0.88 | ||
| Q3 24 | $0.86 | $0.93 | ||
| Q2 24 | $0.88 | $0.78 | ||
| Q1 24 | $0.48 | $1.04 |
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 | $2.9B |
| Total DebtLower is stronger | $570.7M | $3.4B |
| Stockholders' EquityBook value | $1.1B | $7.9B |
| Total Assets | $2.5B | $13.0B |
| Debt / EquityLower = less leverage | 0.51× | 0.43× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $98.7M | $2.9B | ||
| Q3 25 | $83.8M | $2.8B | ||
| Q2 25 | $124.5M | $3.0B | ||
| Q1 25 | $71.6M | — | ||
| Q4 24 | $83.8M | $3.0B | ||
| Q3 24 | $78.6M | $2.8B | ||
| Q2 24 | $72.9M | $2.7B | ||
| Q1 24 | $60.1M | $2.6B |
| Q4 25 | $570.7M | $3.4B | ||
| Q3 25 | $525.8M | $3.4B | ||
| Q2 25 | $482.1M | $3.4B | ||
| Q1 25 | $296.7M | — | ||
| Q4 24 | $330.0M | $3.4B | ||
| Q3 24 | $359.1M | $3.4B | ||
| Q2 24 | $405.7M | $3.4B | ||
| Q1 24 | $399.9M | $3.4B |
| Q4 25 | $1.1B | $7.9B | ||
| Q3 25 | $1.1B | $7.9B | ||
| Q2 25 | $1.0B | $8.0B | ||
| Q1 25 | $910.2M | — | ||
| Q4 24 | $855.1M | $8.8B | ||
| Q3 24 | $858.8M | $8.6B | ||
| Q2 24 | $788.4M | $8.3B | ||
| Q1 24 | $747.6M | $8.1B |
| Q4 25 | $2.5B | $13.0B | ||
| Q3 25 | $2.4B | $13.1B | ||
| Q2 25 | $2.2B | $13.3B | ||
| Q1 25 | $1.9B | — | ||
| Q4 24 | $1.8B | $14.1B | ||
| Q3 24 | $1.9B | $13.9B | ||
| Q2 24 | $1.9B | $13.7B | ||
| Q1 24 | $1.9B | $13.5B |
| Q4 25 | 0.51× | 0.43× | ||
| Q3 25 | 0.50× | 0.43× | ||
| Q2 25 | 0.48× | 0.42× | ||
| Q1 25 | 0.33× | — | ||
| Q4 24 | 0.39× | 0.38× | ||
| Q3 24 | 0.42× | 0.39× | ||
| Q2 24 | 0.51× | 0.41× | ||
| Q1 24 | 0.53× | 0.42× |
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 | $418.7M |
| Free Cash FlowOCF − Capex | $-17.1M | $372.4M |
| FCF MarginFCF / Revenue | -2.1% | 24.0% |
| Capex IntensityCapex / Revenue | 5.2% | 3.0% |
| Cash ConversionOCF / Net Profit | — | 1.64× |
| TTM Free Cash FlowTrailing 4 quarters | $-20.3M | $1.4B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $24.7M | $418.7M | ||
| Q3 25 | $1.4M | $184.3M | ||
| Q2 25 | $27.7M | $602.3M | ||
| Q1 25 | $54.8M | — | ||
| Q4 24 | $60.7M | $579.7M | ||
| Q3 24 | $57.3M | $465.8M | ||
| Q2 24 | $40.5M | $362.2M | ||
| Q1 24 | $39.6M | $498.7M |
| Q4 25 | $-17.1M | $372.4M | ||
| Q3 25 | $-30.5M | $106.1M | ||
| Q2 25 | $200.0K | $454.7M | ||
| Q1 25 | $27.1M | — | ||
| Q4 24 | $44.7M | $434.8M | ||
| Q3 24 | $43.8M | $293.6M | ||
| Q2 24 | $13.7M | $207.7M | ||
| Q1 24 | $-4.3M | $276.3M |
| Q4 25 | -2.1% | 24.0% | ||
| Q3 25 | -4.1% | 7.2% | ||
| Q2 25 | 0.0% | 31.5% | ||
| Q1 25 | 4.2% | — | ||
| Q4 24 | 7.2% | 25.2% | ||
| Q3 24 | 6.7% | 16.7% | ||
| Q2 24 | 2.1% | 12.0% | ||
| Q1 24 | -0.7% | 14.8% |
| Q4 25 | 5.2% | 3.0% | ||
| Q3 25 | 4.3% | 5.3% | ||
| Q2 25 | 4.0% | 10.2% | ||
| Q1 25 | 4.3% | — | ||
| Q4 24 | 2.6% | 8.4% | ||
| Q3 24 | 2.1% | 9.8% | ||
| Q2 24 | 4.1% | 8.9% | ||
| Q1 24 | 7.3% | 11.9% |
| Q4 25 | — | 1.64× | ||
| Q3 25 | 0.03× | 1.08× | ||
| Q2 25 | 0.54× | — | ||
| Q1 25 | 1.10× | — | ||
| Q4 24 | 1.48× | 1.53× | ||
| Q3 24 | 1.24× | 1.16× | ||
| Q2 24 | 0.86× | 1.07× | ||
| Q1 24 | 1.53× | 1.10× |
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% |
ON
| Industrial Segment | $426.3M | 27% |
| Other End Markets Segment | $337.3M | 22% |
| Intelligent Sensing Segments | $284.0M | 18% |
| Direct Customers | $282.4M | 18% |
| Intelligent Sensing Group | $230.0M | 15% |
