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Side-by-side financial comparison of MODINE MANUFACTURING CO (MOD) and PHINIA INC. (PHIN). Click either name above to swap in a different company.
PHINIA INC. is the larger business by last-quarter revenue ($889.0M vs $805.0M, roughly 1.1× MODINE MANUFACTURING CO). On growth, MODINE MANUFACTURING CO posted the faster year-over-year revenue change (30.5% vs 6.7%). PHINIA INC. produced more free cash flow last quarter ($67.0M vs $-17.1M). Over the past eight quarters, MODINE MANUFACTURING CO's revenue compounded faster (15.5% CAGR vs 1.5%).
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...
PHINIA Inc. is a global automotive technology provider specializing in fuel injection systems, starters, alternators, and hybrid/electric vehicle components. It serves OEMs and aftermarket customers across North America, Europe, Asia Pacific and key markets, covering passenger car, commercial vehicle and industrial mobility segments.
MOD vs PHIN — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $805.0M | $889.0M |
| Net Profit | $-47.4M | — |
| Gross Margin | 23.1% | 21.7% |
| Operating Margin | 11.1% | 7.8% |
| Net Margin | -5.9% | — |
| Revenue YoY | 30.5% | 6.7% |
| Net Profit YoY | -215.6% | — |
| EPS (diluted) | $-0.90 | $1.14 |
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 | $889.0M | ||
| Q3 25 | $738.9M | $908.0M | ||
| Q2 25 | $682.8M | $890.0M | ||
| Q1 25 | $647.2M | $796.0M | ||
| Q4 24 | $616.8M | $833.0M | ||
| Q3 24 | $658.0M | $839.0M | ||
| Q2 24 | $661.5M | $868.0M | ||
| Q1 24 | $603.5M | $863.0M |
| Q4 25 | $-47.4M | — | ||
| Q3 25 | $44.4M | $13.0M | ||
| Q2 25 | $51.2M | $46.0M | ||
| Q1 25 | $49.6M | $26.0M | ||
| Q4 24 | $41.0M | — | ||
| Q3 24 | $46.1M | $31.0M | ||
| Q2 24 | $47.3M | $14.0M | ||
| Q1 24 | $25.8M | $29.0M |
| Q4 25 | 23.1% | 21.7% | ||
| Q3 25 | 22.3% | 22.0% | ||
| Q2 25 | 24.2% | 22.1% | ||
| Q1 25 | 25.6% | 21.6% | ||
| Q4 24 | 24.3% | 22.7% | ||
| Q3 24 | 25.2% | 22.3% | ||
| Q2 24 | 24.6% | 21.7% | ||
| Q1 24 | 22.4% | 22.2% |
| Q4 25 | 11.1% | 7.8% | ||
| Q3 25 | 9.9% | 3.7% | ||
| Q2 25 | 11.1% | 10.0% | ||
| Q1 25 | 11.5% | 7.8% | ||
| Q4 24 | 9.6% | 6.1% | ||
| Q3 24 | 11.4% | 7.9% | ||
| Q2 24 | 11.2% | 8.2% | ||
| Q1 24 | 7.8% | 8.2% |
| Q4 25 | -5.9% | — | ||
| Q3 25 | 6.0% | 1.4% | ||
| Q2 25 | 7.5% | 5.2% | ||
| Q1 25 | 7.7% | 3.3% | ||
| Q4 24 | 6.6% | — | ||
| Q3 24 | 7.0% | 3.7% | ||
| Q2 24 | 7.2% | 1.6% | ||
| Q1 24 | 4.3% | 3.4% |
| Q4 25 | $-0.90 | $1.14 | ||
| Q3 25 | $0.83 | $0.33 | ||
| Q2 25 | $0.95 | $1.14 | ||
| Q1 25 | $0.92 | $0.63 | ||
| Q4 24 | $0.76 | $0.13 | ||
| Q3 24 | $0.86 | $0.70 | ||
| Q2 24 | $0.88 | $0.31 | ||
| Q1 24 | $0.48 | $0.62 |
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 | $359.0M |
| Total DebtLower is stronger | $570.7M | $970.0M |
| Stockholders' EquityBook value | $1.1B | $1.6B |
| Total Assets | $2.5B | $3.8B |
| Debt / EquityLower = less leverage | 0.51× | 0.61× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $98.7M | $359.0M | ||
| Q3 25 | $83.8M | $349.0M | ||
| Q2 25 | $124.5M | $347.0M | ||
| Q1 25 | $71.6M | $373.0M | ||
| Q4 24 | $83.8M | $484.0M | ||
| Q3 24 | $78.6M | $477.0M | ||
| Q2 24 | $72.9M | $339.0M | ||
| Q1 24 | $60.1M | $325.0M |
| Q4 25 | $570.7M | $970.0M | ||
| Q3 25 | $525.8M | $990.0M | ||
| Q2 25 | $482.1M | $990.0M | ||
| Q1 25 | $296.7M | $989.0M | ||
| Q4 24 | $330.0M | $988.0M | ||
| Q3 24 | $359.1M | $987.0M | ||
| Q2 24 | $405.7M | $821.0M | ||
| Q1 24 | $399.9M | $706.0M |
| Q4 25 | $1.1B | $1.6B | ||
| Q3 25 | $1.1B | $1.6B | ||
| Q2 25 | $1.0B | $1.6B | ||
| Q1 25 | $910.2M | $1.5B | ||
| Q4 24 | $855.1M | $1.6B | ||
| Q3 24 | $858.8M | $1.7B | ||
| Q2 24 | $788.4M | $1.7B | ||
| Q1 24 | $747.6M | $1.9B |
| Q4 25 | $2.5B | $3.8B | ||
| Q3 25 | $2.4B | $4.0B | ||
| Q2 25 | $2.2B | $3.9B | ||
| Q1 25 | $1.9B | $3.7B | ||
| Q4 24 | $1.8B | $3.8B | ||
| Q3 24 | $1.9B | $4.0B | ||
| Q2 24 | $1.9B | $3.9B | ||
| Q1 24 | $1.9B | $4.0B |
| Q4 25 | 0.51× | 0.61× | ||
| Q3 25 | 0.50× | 0.62× | ||
| Q2 25 | 0.48× | 0.61× | ||
| Q1 25 | 0.33× | 0.64× | ||
| Q4 24 | 0.39× | 0.63× | ||
| Q3 24 | 0.42× | 0.58× | ||
| Q2 24 | 0.51× | 0.47× | ||
| Q1 24 | 0.53× | 0.38× |
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 | $96.0M |
| Free Cash FlowOCF − Capex | $-17.1M | $67.0M |
| FCF MarginFCF / Revenue | -2.1% | 7.5% |
| Capex IntensityCapex / Revenue | 5.2% | 3.3% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-20.3M | $188.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $24.7M | $96.0M | ||
| Q3 25 | $1.4M | $119.0M | ||
| Q2 25 | $27.7M | $57.0M | ||
| Q1 25 | $54.8M | $40.0M | ||
| Q4 24 | $60.7M | $73.0M | ||
| Q3 24 | $57.3M | $95.0M | ||
| Q2 24 | $40.5M | $109.0M | ||
| Q1 24 | $39.6M | $31.0M |
| Q4 25 | $-17.1M | $67.0M | ||
| Q3 25 | $-30.5M | $93.0M | ||
| Q2 25 | $200.0K | $23.0M | ||
| Q1 25 | $27.1M | $5.0M | ||
| Q4 24 | $44.7M | $53.0M | ||
| Q3 24 | $43.8M | $70.0M | ||
| Q2 24 | $13.7M | $92.0M | ||
| Q1 24 | $-4.3M | $-12.0M |
| Q4 25 | -2.1% | 7.5% | ||
| Q3 25 | -4.1% | 10.2% | ||
| Q2 25 | 0.0% | 2.6% | ||
| Q1 25 | 4.2% | 0.6% | ||
| Q4 24 | 7.2% | 6.4% | ||
| Q3 24 | 6.7% | 8.3% | ||
| Q2 24 | 2.1% | 10.6% | ||
| Q1 24 | -0.7% | -1.4% |
| Q4 25 | 5.2% | 3.3% | ||
| Q3 25 | 4.3% | 2.9% | ||
| Q2 25 | 4.0% | 3.8% | ||
| Q1 25 | 4.3% | 4.4% | ||
| Q4 24 | 2.6% | 2.4% | ||
| Q3 24 | 2.1% | 3.0% | ||
| Q2 24 | 4.1% | 2.0% | ||
| Q1 24 | 7.3% | 5.0% |
| Q4 25 | — | — | ||
| Q3 25 | 0.03× | 9.15× | ||
| Q2 25 | 0.54× | 1.24× | ||
| Q1 25 | 1.10× | 1.54× | ||
| Q4 24 | 1.48× | — | ||
| Q3 24 | 1.24× | 3.06× | ||
| Q2 24 | 0.86× | 7.79× | ||
| Q1 24 | 1.53× | 1.07× |
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% |
PHIN
| Customer | $618.0M | 70% |
| Fuel Systems | $194.0M | 22% |
| Other | $77.0M | 9% |
