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Side-by-side financial comparison of MODINE MANUFACTURING CO (MOD) and PACS Group, Inc. (PACS). Click either name above to swap in a different company.
PACS Group, Inc. is the larger business by last-quarter revenue ($1.4B vs $805.0M, roughly 1.7× MODINE MANUFACTURING CO). PACS Group, Inc. runs the higher net margin — 4.4% vs -5.9%, a 10.3% gap on every dollar of revenue. On growth, MODINE MANUFACTURING CO posted the faster year-over-year revenue change (30.5% vs 18.4%). Over the past eight quarters, PACS Group, Inc.'s revenue compounded faster (20.5% 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...
MOD vs PACS — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $805.0M | $1.4B |
| Net Profit | $-47.4M | $59.7M |
| Gross Margin | 23.1% | — |
| Operating Margin | 11.1% | 7.0% |
| Net Margin | -5.9% | 4.4% |
| Revenue YoY | 30.5% | 18.4% |
| Net Profit YoY | -215.6% | 3022.5% |
| EPS (diluted) | $-0.90 | $0.42 |
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 | $1.4B | ||
| Q3 25 | $738.9M | $1.3B | ||
| Q2 25 | $682.8M | $1.3B | ||
| Q1 25 | $647.2M | $1.3B | ||
| Q4 24 | $616.8M | $1.1B | ||
| Q3 24 | $658.0M | $1.0B | ||
| Q2 24 | $661.5M | $981.4M | ||
| Q1 24 | $603.5M | $934.3M |
| Q4 25 | $-47.4M | $59.7M | ||
| Q3 25 | $44.4M | $52.4M | ||
| Q2 25 | $51.2M | $51.0M | ||
| Q1 25 | $49.6M | $28.5M | ||
| Q4 24 | $41.0M | $1.9M | ||
| Q3 24 | $46.1M | $15.6M | ||
| Q2 24 | $47.3M | $-10.9M | ||
| Q1 24 | $25.8M | $49.1M |
| Q4 25 | 23.1% | — | ||
| Q3 25 | 22.3% | — | ||
| Q2 25 | 24.2% | — | ||
| Q1 25 | 25.6% | — | ||
| Q4 24 | 24.3% | — | ||
| Q3 24 | 25.2% | 17.1% | ||
| Q2 24 | 24.6% | 22.3% | ||
| Q1 24 | 22.4% | 21.2% |
| Q4 25 | 11.1% | 7.0% | ||
| Q3 25 | 9.9% | 6.4% | ||
| Q2 25 | 11.1% | 6.2% | ||
| Q1 25 | 11.5% | 3.8% | ||
| Q4 24 | 9.6% | 1.7% | ||
| Q3 24 | 11.4% | 2.2% | ||
| Q2 24 | 11.2% | 0.1% | ||
| Q1 24 | 7.8% | 8.6% |
| Q4 25 | -5.9% | 4.4% | ||
| Q3 25 | 6.0% | 3.9% | ||
| Q2 25 | 7.5% | 3.9% | ||
| Q1 25 | 7.7% | 2.2% | ||
| Q4 24 | 6.6% | 0.2% | ||
| Q3 24 | 7.0% | 1.5% | ||
| Q2 24 | 7.2% | -1.1% | ||
| Q1 24 | 4.3% | 5.3% |
| Q4 25 | $-0.90 | $0.42 | ||
| Q3 25 | $0.83 | $0.32 | ||
| Q2 25 | $0.95 | $0.31 | ||
| Q1 25 | $0.92 | $0.17 | ||
| Q4 24 | $0.76 | $-0.03 | ||
| Q3 24 | $0.86 | $0.10 | ||
| Q2 24 | $0.88 | $-0.07 | ||
| Q1 24 | $0.48 | $0.38 |
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 | $197.0M |
| Total DebtLower is stronger | $570.7M | $353.2M |
| Stockholders' EquityBook value | $1.1B | $946.8M |
| Total Assets | $2.5B | $5.6B |
| Debt / EquityLower = less leverage | 0.51× | 0.37× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $98.7M | $197.0M | ||
| Q3 25 | $83.8M | $355.7M | ||
| Q2 25 | $124.5M | $294.2M | ||
| Q1 25 | $71.6M | $287.5M | ||
| Q4 24 | $83.8M | $157.7M | ||
| Q3 24 | $78.6M | $49.5M | ||
| Q2 24 | $72.9M | $73.4M | ||
| Q1 24 | $60.1M | $81.2M |
| Q4 25 | $570.7M | $353.2M | ||
| Q3 25 | $525.8M | — | ||
| Q2 25 | $482.1M | — | ||
| Q1 25 | $296.7M | — | ||
| Q4 24 | $330.0M | $411.9M | ||
| Q3 24 | $359.1M | — | ||
| Q2 24 | $405.7M | — | ||
| Q1 24 | $399.9M | — |
| Q4 25 | $1.1B | $946.8M | ||
| Q3 25 | $1.1B | $871.3M | ||
| Q2 25 | $1.0B | $806.8M | ||
| Q1 25 | $910.2M | $750.2M | ||
| Q4 24 | $855.1M | $709.6M | ||
| Q3 24 | $858.8M | $660.0M | ||
| Q2 24 | $788.4M | $572.1M | ||
| Q1 24 | $747.6M | $128.0M |
| Q4 25 | $2.5B | $5.6B | ||
| Q3 25 | $2.4B | $5.6B | ||
| Q2 25 | $2.2B | $5.5B | ||
| Q1 25 | $1.9B | $5.5B | ||
| Q4 24 | $1.8B | $5.2B | ||
| Q3 24 | $1.9B | $4.5B | ||
| Q2 24 | $1.9B | $3.9B | ||
| Q1 24 | $1.9B | $3.9B |
| Q4 25 | 0.51× | 0.37× | ||
| Q3 25 | 0.50× | — | ||
| Q2 25 | 0.48× | — | ||
| Q1 25 | 0.33× | — | ||
| Q4 24 | 0.39× | 0.58× | ||
| 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 | $-3.4M |
| Free Cash FlowOCF − Capex | $-17.1M | — |
| FCF MarginFCF / Revenue | -2.1% | — |
| Capex IntensityCapex / Revenue | 5.2% | — |
| Cash ConversionOCF / Net Profit | — | -0.06× |
| TTM Free Cash FlowTrailing 4 quarters | $-20.3M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $24.7M | $-3.4M | ||
| Q3 25 | $1.4M | $204.8M | ||
| Q2 25 | $27.7M | $52.6M | ||
| Q1 25 | $54.8M | $150.2M | ||
| Q4 24 | $60.7M | $64.6M | ||
| Q3 24 | $57.3M | $209.2M | ||
| Q2 24 | $40.5M | $34.8M | ||
| Q1 24 | $39.6M | $58.8M |
| 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 | — | -0.06× | ||
| Q3 25 | 0.03× | 3.91× | ||
| Q2 25 | 0.54× | 1.03× | ||
| Q1 25 | 1.10× | 5.28× | ||
| Q4 24 | 1.48× | 33.78× | ||
| Q3 24 | 1.24× | 13.39× | ||
| Q2 24 | 0.86× | — | ||
| Q1 24 | 1.53× | 1.20× |
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% |
PACS
Segment breakdown not available.
