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Side-by-side financial comparison of MODINE MANUFACTURING CO (MOD) and SEALED AIR CORP (SEE). Click either name above to swap in a different company.
SEALED AIR CORP is the larger business by last-quarter revenue ($1.4B vs $805.0M, roughly 1.7× MODINE MANUFACTURING CO). SEALED AIR CORP runs the higher net margin — 3.1% vs -5.9%, a 9.0% gap on every dollar of revenue. On growth, MODINE MANUFACTURING CO posted the faster year-over-year revenue change (30.5% vs 2.6%). SEALED AIR CORP produced more free cash flow last quarter ($257.7M vs $-17.1M). Over the past eight quarters, MODINE MANUFACTURING CO's revenue compounded faster (15.5% CAGR vs 2.7%).
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...
Sealed Air Corporation is a global provider of innovative packaging and protective solutions. Its core offerings include cushioning materials, food safety and preservation packaging, and sustainable waste-reducing packaging systems, serving retail, e-commerce, food and beverage, and industrial manufacturing markets worldwide.
MOD vs SEE — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $805.0M | $1.4B |
| Net Profit | $-47.4M | $43.8M |
| Gross Margin | 23.1% | 28.6% |
| Operating Margin | 11.1% | 11.4% |
| Net Margin | -5.9% | 3.1% |
| Revenue YoY | 30.5% | 2.6% |
| Net Profit YoY | -215.6% | 700.0% |
| EPS (diluted) | $-0.90 | $0.30 |
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 | $1.4B | ||
| Q3 24 | $658.0M | $1.3B | ||
| Q2 24 | $661.5M | $1.3B | ||
| Q1 24 | $603.5M | $1.3B |
| Q4 25 | $-47.4M | $43.8M | ||
| Q3 25 | $44.4M | $255.1M | ||
| Q2 25 | $51.2M | $93.1M | ||
| Q1 25 | $49.6M | $113.5M | ||
| Q4 24 | $41.0M | $-7.3M | ||
| Q3 24 | $46.1M | $91.7M | ||
| Q2 24 | $47.3M | $98.3M | ||
| Q1 24 | $25.8M | $82.0M |
| Q4 25 | 23.1% | 28.6% | ||
| Q3 25 | 22.3% | 29.8% | ||
| Q2 25 | 24.2% | 30.7% | ||
| Q1 25 | 25.6% | 30.9% | ||
| Q4 24 | 24.3% | 30.0% | ||
| Q3 24 | 25.2% | 30.1% | ||
| Q2 24 | 24.6% | 31.2% | ||
| Q1 24 | 22.4% | 30.3% |
| Q4 25 | 11.1% | 11.4% | ||
| Q3 25 | 9.9% | 13.8% | ||
| Q2 25 | 11.1% | 15.0% | ||
| Q1 25 | 11.5% | 14.5% | ||
| Q4 24 | 9.6% | 11.7% | ||
| Q3 24 | 11.4% | 13.9% | ||
| Q2 24 | 11.2% | 15.4% | ||
| Q1 24 | 7.8% | 14.0% |
| Q4 25 | -5.9% | 3.1% | ||
| Q3 25 | 6.0% | 19.0% | ||
| Q2 25 | 7.5% | 7.0% | ||
| Q1 25 | 7.7% | 9.0% | ||
| Q4 24 | 6.6% | -0.5% | ||
| Q3 24 | 7.0% | 6.9% | ||
| Q2 24 | 7.2% | 7.4% | ||
| Q1 24 | 4.3% | 6.2% |
| Q4 25 | $-0.90 | $0.30 | ||
| Q3 25 | $0.83 | $1.73 | ||
| Q2 25 | $0.95 | $0.63 | ||
| Q1 25 | $0.92 | $0.77 | ||
| Q4 24 | $0.76 | $-0.05 | ||
| Q3 24 | $0.86 | $0.63 | ||
| Q2 24 | $0.88 | $0.67 | ||
| Q1 24 | $0.48 | $0.56 |
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 | $344.0M |
| Total DebtLower is stronger | $570.7M | $3.3B |
| Stockholders' EquityBook value | $1.1B | $1.2B |
| Total Assets | $2.5B | $7.0B |
| Debt / EquityLower = less leverage | 0.51× | 2.65× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $98.7M | $344.0M | ||
| Q3 25 | $83.8M | $282.5M | ||
| Q2 25 | $124.5M | $354.4M | ||
| Q1 25 | $71.6M | $335.2M | ||
| Q4 24 | $83.8M | $371.8M | ||
| Q3 24 | $78.6M | $386.0M | ||
| Q2 24 | $72.9M | $388.6M | ||
| Q1 24 | $60.1M | $352.8M |
| Q4 25 | $570.7M | $3.3B | ||
| Q3 25 | $525.8M | $4.0B | ||
| Q2 25 | $482.1M | $4.0B | ||
| Q1 25 | $296.7M | $4.2B | ||
| Q4 24 | $330.0M | $4.2B | ||
| Q3 24 | $359.1M | $4.3B | ||
| Q2 24 | $405.7M | $4.4B | ||
| Q1 24 | $399.9M | $4.5B |
| Q4 25 | $1.1B | $1.2B | ||
| Q3 25 | $1.1B | $1.2B | ||
| Q2 25 | $1.0B | $953.1M | ||
| Q1 25 | $910.2M | $797.9M | ||
| Q4 24 | $855.1M | $624.5M | ||
| Q3 24 | $858.8M | $771.2M | ||
| Q2 24 | $788.4M | $650.1M | ||
| Q1 24 | $747.6M | $598.3M |
| Q4 25 | $2.5B | $7.0B | ||
| Q3 25 | $2.4B | $7.1B | ||
| Q2 25 | $2.2B | $7.2B | ||
| Q1 25 | $1.9B | $7.0B | ||
| Q4 24 | $1.8B | $7.0B | ||
| Q3 24 | $1.9B | $7.3B | ||
| Q2 24 | $1.9B | $7.3B | ||
| Q1 24 | $1.9B | $7.2B |
| Q4 25 | 0.51× | 2.65× | ||
| Q3 25 | 0.50× | 3.34× | ||
| Q2 25 | 0.48× | 4.18× | ||
| Q1 25 | 0.33× | 5.26× | ||
| Q4 24 | 0.39× | 6.72× | ||
| Q3 24 | 0.42× | 5.62× | ||
| Q2 24 | 0.51× | 6.81× | ||
| Q1 24 | 0.53× | 7.49× |
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 | $293.6M |
| Free Cash FlowOCF − Capex | $-17.1M | $257.7M |
| FCF MarginFCF / Revenue | -2.1% | 18.5% |
| Capex IntensityCapex / Revenue | 5.2% | 2.6% |
| Cash ConversionOCF / Net Profit | — | 6.70× |
| TTM Free Cash FlowTrailing 4 quarters | $-20.3M | $458.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $24.7M | $293.6M | ||
| Q3 25 | $1.4M | $165.9M | ||
| Q2 25 | $27.7M | $136.6M | ||
| Q1 25 | $54.8M | $31.9M | ||
| Q4 24 | $60.7M | $244.2M | ||
| Q3 24 | $57.3M | $170.5M | ||
| Q2 24 | $40.5M | $188.2M | ||
| Q1 24 | $39.6M | $125.1M |
| Q4 25 | $-17.1M | $257.7M | ||
| Q3 25 | $-30.5M | $119.6M | ||
| Q2 25 | $200.0K | $93.2M | ||
| Q1 25 | $27.1M | $-12.0M | ||
| Q4 24 | $44.7M | $185.1M | ||
| Q3 24 | $43.8M | $115.2M | ||
| Q2 24 | $13.7M | $129.5M | ||
| Q1 24 | $-4.3M | $78.0M |
| Q4 25 | -2.1% | 18.5% | ||
| Q3 25 | -4.1% | 8.9% | ||
| Q2 25 | 0.0% | 7.0% | ||
| Q1 25 | 4.2% | -0.9% | ||
| Q4 24 | 7.2% | 13.6% | ||
| Q3 24 | 6.7% | 8.6% | ||
| Q2 24 | 2.1% | 9.7% | ||
| Q1 24 | -0.7% | 5.9% |
| Q4 25 | 5.2% | 2.6% | ||
| Q3 25 | 4.3% | 3.4% | ||
| Q2 25 | 4.0% | 3.3% | ||
| Q1 25 | 4.3% | 3.5% | ||
| Q4 24 | 2.6% | 4.4% | ||
| Q3 24 | 2.1% | 4.1% | ||
| Q2 24 | 4.1% | 4.4% | ||
| Q1 24 | 7.3% | 3.6% |
| Q4 25 | — | 6.70× | ||
| Q3 25 | 0.03× | 0.65× | ||
| Q2 25 | 0.54× | 1.47× | ||
| Q1 25 | 1.10× | 0.28× | ||
| Q4 24 | 1.48× | — | ||
| Q3 24 | 1.24× | 1.86× | ||
| Q2 24 | 0.86× | 1.91× | ||
| Q1 24 | 1.53× | 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% |
SEE
| Protective Segment | $1.1B | 78% |
| Other | $292.0M | 21% |
| Pension Plans Defined Benefit | $7.9M | 1% |
