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Side-by-side financial comparison of MODINE MANUFACTURING CO (MOD) and VALHI INC (VHI). Click either name above to swap in a different company.
MODINE MANUFACTURING CO is the larger business by last-quarter revenue ($805.0M vs $494.5M, roughly 1.6× VALHI INC). MODINE MANUFACTURING CO runs the higher net margin — -5.9% vs -10.8%, a 4.9% gap on every dollar of revenue. On growth, MODINE MANUFACTURING CO posted the faster year-over-year revenue change (30.5% vs 2.8%). VALHI INC produced more free cash flow last quarter ($89.8M vs $-17.1M). Over the past eight quarters, MODINE MANUFACTURING CO's revenue compounded faster (15.5% CAGR vs -3.5%).
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...
Valhi, Inc. is an American holding company operating through wholly and majority-owned subsidiaries in a number of different industries. It was founded in 1987 as a result of the merger of the LLC Corporation and Amalgamated Sugar Company. The Contran Corporation owned 93% of Valhi's common stock as of December 2014. The chairman of the company was Harold Simmons until his death in 2013. As of 2014 it was a Fortune 1000 company.
MOD vs VHI — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $805.0M | $494.5M |
| Net Profit | $-47.4M | $-53.2M |
| Gross Margin | 23.1% | 6.9% |
| Operating Margin | 11.1% | -6.2% |
| Net Margin | -5.9% | -10.8% |
| Revenue YoY | 30.5% | 2.8% |
| Net Profit YoY | -215.6% | -333.3% |
| EPS (diluted) | $-0.90 | $-1.86 |
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 | $494.5M | ||
| Q3 25 | $738.9M | $503.5M | ||
| Q2 25 | $682.8M | $540.4M | ||
| Q1 25 | $647.2M | $538.6M | ||
| Q4 24 | $616.8M | $480.9M | ||
| Q3 24 | $658.0M | $533.6M | ||
| Q2 24 | $661.5M | $559.7M | ||
| Q1 24 | $603.5M | $530.6M |
| Q4 25 | $-47.4M | $-53.2M | ||
| Q3 25 | $44.4M | $-22.2M | ||
| Q2 25 | $51.2M | $900.0K | ||
| Q1 25 | $49.6M | $16.9M | ||
| Q4 24 | $41.0M | $22.8M | ||
| Q3 24 | $46.1M | $57.5M | ||
| Q2 24 | $47.3M | $19.9M | ||
| Q1 24 | $25.8M | $7.8M |
| Q4 25 | 23.1% | 6.9% | ||
| Q3 25 | 22.3% | 12.0% | ||
| Q2 25 | 24.2% | 14.5% | ||
| Q1 25 | 25.6% | 22.7% | ||
| Q4 24 | 24.3% | 20.9% | ||
| Q3 24 | 25.2% | 21.8% | ||
| Q2 24 | 24.6% | 21.7% | ||
| Q1 24 | 22.4% | 16.3% |
| Q4 25 | 11.1% | -6.2% | ||
| Q3 25 | 9.9% | 1.7% | ||
| Q2 25 | 11.1% | 6.6% | ||
| Q1 25 | 11.5% | 9.3% | ||
| Q4 24 | 9.6% | 11.8% | ||
| Q3 24 | 11.4% | 12.7% | ||
| Q2 24 | 11.2% | 9.8% | ||
| Q1 24 | 7.8% | 5.9% |
| Q4 25 | -5.9% | -10.8% | ||
| Q3 25 | 6.0% | -4.4% | ||
| Q2 25 | 7.5% | 0.2% | ||
| Q1 25 | 7.7% | 3.1% | ||
| Q4 24 | 6.6% | 4.7% | ||
| Q3 24 | 7.0% | 10.8% | ||
| Q2 24 | 7.2% | 3.6% | ||
| Q1 24 | 4.3% | 1.5% |
| Q4 25 | $-0.90 | $-1.86 | ||
| Q3 25 | $0.83 | $-0.78 | ||
| Q2 25 | $0.95 | $0.03 | ||
| Q1 25 | $0.92 | $0.59 | ||
| Q4 24 | $0.76 | $0.81 | ||
| Q3 24 | $0.86 | $2.01 | ||
| Q2 24 | $0.88 | $0.70 | ||
| Q1 24 | $0.48 | $0.27 |
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 | $216.9M |
| Total DebtLower is stronger | $570.7M | $590.9M |
| Stockholders' EquityBook value | $1.1B | $1.0B |
| Total Assets | $2.5B | $2.6B |
| Debt / EquityLower = less leverage | 0.51× | 0.58× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $98.7M | $216.9M | ||
| Q3 25 | $83.8M | $186.6M | ||
| Q2 25 | $124.5M | $190.9M | ||
| Q1 25 | $71.6M | $196.4M | ||
| Q4 24 | $83.8M | $350.2M | ||
| Q3 24 | $78.6M | $316.7M | ||
| Q2 24 | $72.9M | $386.9M | ||
| Q1 24 | $60.1M | $372.7M |
| Q4 25 | $570.7M | $590.9M | ||
| Q3 25 | $525.8M | $661.5M | ||
| Q2 25 | $482.1M | $544.8M | ||
| Q1 25 | $296.7M | $525.9M | ||
| Q4 24 | $330.0M | $484.4M | ||
| Q3 24 | $359.1M | $526.6M | ||
| Q2 24 | $405.7M | $497.4M | ||
| Q1 24 | $399.9M | $511.2M |
| Q4 25 | $1.1B | $1.0B | ||
| Q3 25 | $1.1B | $1.0B | ||
| Q2 25 | $1.0B | $1.1B | ||
| Q1 25 | $910.2M | $1.1B | ||
| Q4 24 | $855.1M | $1.0B | ||
| Q3 24 | $858.8M | $1.0B | ||
| Q2 24 | $788.4M | $962.6M | ||
| Q1 24 | $747.6M | $928.2M |
| Q4 25 | $2.5B | $2.6B | ||
| Q3 25 | $2.4B | $2.7B | ||
| Q2 25 | $2.2B | $2.8B | ||
| Q1 25 | $1.9B | $2.8B | ||
| Q4 24 | $1.8B | $2.8B | ||
| Q3 24 | $1.9B | $2.8B | ||
| Q2 24 | $1.9B | $2.5B | ||
| Q1 24 | $1.9B | $2.6B |
| Q4 25 | 0.51× | 0.58× | ||
| Q3 25 | 0.50× | 0.63× | ||
| Q2 25 | 0.48× | 0.51× | ||
| Q1 25 | 0.33× | 0.49× | ||
| Q4 24 | 0.39× | 0.47× | ||
| Q3 24 | 0.42× | 0.52× | ||
| Q2 24 | 0.51× | 0.52× | ||
| Q1 24 | 0.53× | 0.55× |
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 | $100.6M |
| Free Cash FlowOCF − Capex | $-17.1M | $89.8M |
| FCF MarginFCF / Revenue | -2.1% | 18.2% |
| Capex IntensityCapex / Revenue | 5.2% | 2.2% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-20.3M | $-82.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $24.7M | $100.6M | ||
| Q3 25 | $1.4M | $-1.9M | ||
| Q2 25 | $27.7M | $21.7M | ||
| Q1 25 | $54.8M | $-155.9M | ||
| Q4 24 | $60.7M | $45.8M | ||
| Q3 24 | $57.3M | $13.5M | ||
| Q2 24 | $40.5M | $33.5M | ||
| Q1 24 | $39.6M | $-48.8M |
| Q4 25 | $-17.1M | $89.8M | ||
| Q3 25 | $-30.5M | $-12.3M | ||
| Q2 25 | $200.0K | $9.1M | ||
| Q1 25 | $27.1M | $-168.7M | ||
| Q4 24 | $44.7M | $33.3M | ||
| Q3 24 | $43.8M | $3.9M | ||
| Q2 24 | $13.7M | $29.7M | ||
| Q1 24 | $-4.3M | $-53.8M |
| Q4 25 | -2.1% | 18.2% | ||
| Q3 25 | -4.1% | -2.4% | ||
| Q2 25 | 0.0% | 1.7% | ||
| Q1 25 | 4.2% | -31.3% | ||
| Q4 24 | 7.2% | 6.9% | ||
| Q3 24 | 6.7% | 0.7% | ||
| Q2 24 | 2.1% | 5.3% | ||
| Q1 24 | -0.7% | -10.1% |
| Q4 25 | 5.2% | 2.2% | ||
| Q3 25 | 4.3% | 2.1% | ||
| Q2 25 | 4.0% | 2.3% | ||
| Q1 25 | 4.3% | 2.4% | ||
| Q4 24 | 2.6% | 2.6% | ||
| Q3 24 | 2.1% | 1.8% | ||
| Q2 24 | 4.1% | 0.7% | ||
| Q1 24 | 7.3% | 0.9% |
| Q4 25 | — | — | ||
| Q3 25 | 0.03× | — | ||
| Q2 25 | 0.54× | 24.11× | ||
| Q1 25 | 1.10× | -9.22× | ||
| Q4 24 | 1.48× | 2.01× | ||
| Q3 24 | 1.24× | 0.23× | ||
| Q2 24 | 0.86× | 1.68× | ||
| Q1 24 | 1.53× | -6.26× |
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% |
VHI
| Chemicals | $418.3M | 85% |
| Real Estate Management And Development | $38.5M | 8% |
| Security Products | $29.5M | 6% |
| Marine Components | $8.2M | 2% |
