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Side-by-side financial comparison of MODINE MANUFACTURING CO (MOD) and QuidelOrtho Corp (QDEL). Click either name above to swap in a different company.
MODINE MANUFACTURING CO is the larger business by last-quarter revenue ($805.0M vs $699.9M, roughly 1.2× QuidelOrtho Corp). MODINE MANUFACTURING CO runs the higher net margin — -5.9% vs -104.7%, a 98.8% gap on every dollar of revenue. On growth, MODINE MANUFACTURING CO posted the faster year-over-year revenue change (30.5% vs -3.7%). MODINE MANUFACTURING CO produced more free cash flow last quarter ($-17.1M vs $-94.7M). Over the past eight quarters, MODINE MANUFACTURING CO's revenue compounded faster (15.5% CAGR vs -2.9%).
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...
QuidelOrtho Corporation is an American manufacturer of diagnostic healthcare products that are sold worldwide.
MOD vs QDEL — Head-to-Head
Income Statement — Q3 FY2026 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $805.0M | $699.9M |
| Net Profit | $-47.4M | $-733.0M |
| Gross Margin | 23.1% | — |
| Operating Margin | 11.1% | -100.7% |
| Net Margin | -5.9% | -104.7% |
| Revenue YoY | 30.5% | -3.7% |
| Net Profit YoY | -215.6% | -3583.4% |
| EPS (diluted) | $-0.90 | $-10.78 |
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 | — | ||
| Q3 25 | $738.9M | $699.9M | ||
| Q2 25 | $682.8M | $613.9M | ||
| Q1 25 | $647.2M | $692.8M | ||
| Q4 24 | $616.8M | $707.8M | ||
| Q3 24 | $658.0M | $727.1M | ||
| Q2 24 | $661.5M | $637.0M | ||
| Q1 24 | $603.5M | $711.0M |
| Q4 25 | $-47.4M | — | ||
| Q3 25 | $44.4M | $-733.0M | ||
| Q2 25 | $51.2M | $-255.4M | ||
| Q1 25 | $49.6M | $-12.7M | ||
| Q4 24 | $41.0M | $-178.4M | ||
| Q3 24 | $46.1M | $-19.9M | ||
| Q2 24 | $47.3M | $-147.7M | ||
| Q1 24 | $25.8M | $-1.7B |
| 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% | — | ||
| Q3 25 | 9.9% | -100.7% | ||
| Q2 25 | 11.1% | -29.4% | ||
| Q1 25 | 11.5% | 4.7% | ||
| Q4 24 | 9.6% | -14.2% | ||
| Q3 24 | 11.4% | 2.1% | ||
| Q2 24 | 11.2% | -18.4% | ||
| Q1 24 | 7.8% | -247.3% |
| Q4 25 | -5.9% | — | ||
| Q3 25 | 6.0% | -104.7% | ||
| Q2 25 | 7.5% | -41.6% | ||
| Q1 25 | 7.7% | -1.8% | ||
| Q4 24 | 6.6% | -25.2% | ||
| Q3 24 | 7.0% | -2.7% | ||
| Q2 24 | 7.2% | -23.2% | ||
| Q1 24 | 4.3% | -239.9% |
| Q4 25 | $-0.90 | — | ||
| Q3 25 | $0.83 | $-10.78 | ||
| Q2 25 | $0.95 | $-3.77 | ||
| Q1 25 | $0.92 | $-0.19 | ||
| Q4 24 | $0.76 | $-2.54 | ||
| Q3 24 | $0.86 | $-0.30 | ||
| Q2 24 | $0.88 | $-2.20 | ||
| Q1 24 | $0.48 | $-25.50 |
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 | $98.1M |
| Total DebtLower is stronger | $570.7M | $2.5B |
| Stockholders' EquityBook value | $1.1B | $2.0B |
| Total Assets | $2.5B | $5.7B |
| Debt / EquityLower = less leverage | 0.51× | 1.23× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $98.7M | — | ||
| Q3 25 | $83.8M | $98.1M | ||
| Q2 25 | $124.5M | $151.7M | ||
| Q1 25 | $71.6M | $127.1M | ||
| Q4 24 | $83.8M | $98.3M | ||
| Q3 24 | $78.6M | $143.7M | ||
| Q2 24 | $72.9M | $107.0M | ||
| Q1 24 | $60.1M | $78.5M |
| Q4 25 | $570.7M | — | ||
| Q3 25 | $525.8M | $2.5B | ||
| Q2 25 | $482.1M | $2.1B | ||
| Q1 25 | $296.7M | $2.1B | ||
| Q4 24 | $330.0M | $2.1B | ||
| Q3 24 | $359.1M | $2.2B | ||
| Q2 24 | $405.7M | $2.2B | ||
| Q1 24 | $399.9M | $2.2B |
| Q4 25 | $1.1B | — | ||
| Q3 25 | $1.1B | $2.0B | ||
| Q2 25 | $1.0B | $2.8B | ||
| Q1 25 | $910.2M | $3.0B | ||
| Q4 24 | $855.1M | $3.0B | ||
| Q3 24 | $858.8M | $3.2B | ||
| Q2 24 | $788.4M | $3.2B | ||
| Q1 24 | $747.6M | $3.3B |
| Q4 25 | $2.5B | — | ||
| Q3 25 | $2.4B | $5.7B | ||
| Q2 25 | $2.2B | $6.4B | ||
| Q1 25 | $1.9B | $6.5B | ||
| Q4 24 | $1.8B | $6.4B | ||
| Q3 24 | $1.9B | $6.8B | ||
| Q2 24 | $1.9B | $6.7B | ||
| Q1 24 | $1.9B | $6.7B |
| Q4 25 | 0.51× | — | ||
| Q3 25 | 0.50× | 1.23× | ||
| Q2 25 | 0.48× | 0.74× | ||
| Q1 25 | 0.33× | 0.70× | ||
| Q4 24 | 0.39× | 0.72× | ||
| Q3 24 | 0.42× | 0.68× | ||
| Q2 24 | 0.51× | 0.70× | ||
| Q1 24 | 0.53× | 0.68× |
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 | $-45.5M |
| Free Cash FlowOCF − Capex | $-17.1M | $-94.7M |
| FCF MarginFCF / Revenue | -2.1% | -13.5% |
| Capex IntensityCapex / Revenue | 5.2% | 7.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-20.3M | $-153.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $24.7M | — | ||
| Q3 25 | $1.4M | $-45.5M | ||
| Q2 25 | $27.7M | $-46.8M | ||
| Q1 25 | $54.8M | $65.6M | ||
| Q4 24 | $60.7M | $63.7M | ||
| Q3 24 | $57.3M | $117.9M | ||
| Q2 24 | $40.5M | $-97.9M | ||
| Q1 24 | $39.6M | $-700.0K |
| Q4 25 | $-17.1M | — | ||
| Q3 25 | $-30.5M | $-94.7M | ||
| Q2 25 | $200.0K | $-84.3M | ||
| Q1 25 | $27.1M | $9.4M | ||
| Q4 24 | $44.7M | $16.5M | ||
| Q3 24 | $43.8M | $71.4M | ||
| Q2 24 | $13.7M | $-133.2M | ||
| Q1 24 | $-4.3M | $-66.8M |
| Q4 25 | -2.1% | — | ||
| Q3 25 | -4.1% | -13.5% | ||
| Q2 25 | 0.0% | -13.7% | ||
| Q1 25 | 4.2% | 1.4% | ||
| Q4 24 | 7.2% | 2.3% | ||
| Q3 24 | 6.7% | 9.8% | ||
| Q2 24 | 2.1% | -20.9% | ||
| Q1 24 | -0.7% | -9.4% |
| Q4 25 | 5.2% | — | ||
| Q3 25 | 4.3% | 7.0% | ||
| Q2 25 | 4.0% | 6.1% | ||
| Q1 25 | 4.3% | 8.1% | ||
| Q4 24 | 2.6% | 6.7% | ||
| Q3 24 | 2.1% | 6.4% | ||
| Q2 24 | 4.1% | 5.5% | ||
| Q1 24 | 7.3% | 9.3% |
| Q4 25 | — | — | ||
| Q3 25 | 0.03× | — | ||
| Q2 25 | 0.54× | — | ||
| Q1 25 | 1.10× | — | ||
| Q4 24 | 1.48× | — | ||
| Q3 24 | 1.24× | — | ||
| Q2 24 | 0.86× | — | ||
| Q1 24 | 1.53× | — |
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% |
QDEL
| Labs | $373.8M | 53% |
| Point Of Care | $164.6M | 24% |
| Immunohematology | $142.0M | 20% |
| Donor Screening | $14.7M | 2% |
| Molecular Diagnostics | $4.8M | 1% |
| Collaborative Arrangement Transaction With Party To Collaborative Arrangement | $2.1M | 0% |
