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Side-by-side financial comparison of MODINE MANUFACTURING CO (MOD) and OLYMPIC STEEL INC (ZEUS). Click either name above to swap in a different company.
MODINE MANUFACTURING CO is the larger business by last-quarter revenue ($805.0M vs $490.7M, roughly 1.6× OLYMPIC STEEL INC). OLYMPIC STEEL INC runs the higher net margin — 0.4% vs -5.9%, a 6.3% gap on every dollar of revenue. On growth, MODINE MANUFACTURING CO posted the faster year-over-year revenue change (30.5% vs 4.4%). OLYMPIC STEEL INC produced more free cash flow last quarter ($-12.9M vs $-17.1M). Over the past eight quarters, MODINE MANUFACTURING CO's revenue compounded faster (15.5% CAGR vs 0.1%).
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...
Olympic Steel, Inc. is a metals service center based in Cleveland, Ohio. The company processes and distributes carbon, coated and stainless flat-rolled sheet, coil and plate steel, aluminium alloy, tin plate, and metal-intensive branded products primarily in the United States. Metals processing and value added services include tempering, stretch leveling, cutting-to-length, slitting, edging, shearing, blanking, burning, forming, shot blasting, laser punching, plate rolling, fabricating, machi...
MOD vs ZEUS — Head-to-Head
Income Statement — Q3 FY2026 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $805.0M | $490.7M |
| Net Profit | $-47.4M | $2.2M |
| Gross Margin | 23.1% | — |
| Operating Margin | 11.1% | 1.5% |
| Net Margin | -5.9% | 0.4% |
| Revenue YoY | 30.5% | 4.4% |
| Net Profit YoY | -215.6% | -21.2% |
| EPS (diluted) | $-0.90 | $0.18 |
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 | $490.7M | ||
| Q2 25 | $682.8M | $496.5M | ||
| Q1 25 | $647.2M | $492.9M | ||
| Q4 24 | $616.8M | $418.8M | ||
| Q3 24 | $658.0M | $470.0M | ||
| Q2 24 | $661.5M | $526.3M | ||
| Q1 24 | $603.5M | $526.6M |
| Q4 25 | $-47.4M | — | ||
| Q3 25 | $44.4M | $2.2M | ||
| Q2 25 | $51.2M | $5.2M | ||
| Q1 25 | $49.6M | $2.5M | ||
| Q4 24 | $41.0M | $3.9M | ||
| Q3 24 | $46.1M | $2.7M | ||
| Q2 24 | $47.3M | $7.7M | ||
| Q1 24 | $25.8M | $8.7M |
| 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% | 1.5% | ||
| Q2 25 | 11.1% | 2.3% | ||
| Q1 25 | 11.5% | 1.6% | ||
| Q4 24 | 9.6% | 2.1% | ||
| Q3 24 | 11.4% | 1.7% | ||
| Q2 24 | 11.2% | 2.9% | ||
| Q1 24 | 7.8% | 3.0% |
| Q4 25 | -5.9% | — | ||
| Q3 25 | 6.0% | 0.4% | ||
| Q2 25 | 7.5% | 1.1% | ||
| Q1 25 | 7.7% | 0.5% | ||
| Q4 24 | 6.6% | 0.9% | ||
| Q3 24 | 7.0% | 0.6% | ||
| Q2 24 | 7.2% | 1.5% | ||
| Q1 24 | 4.3% | 1.7% |
| Q4 25 | $-0.90 | — | ||
| Q3 25 | $0.83 | $0.18 | ||
| Q2 25 | $0.95 | $0.45 | ||
| Q1 25 | $0.92 | $0.21 | ||
| Q4 24 | $0.76 | $0.33 | ||
| Q3 24 | $0.86 | $0.23 | ||
| Q2 24 | $0.88 | $0.66 | ||
| Q1 24 | $0.48 | $0.75 |
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 | $7.5M |
| Total DebtLower is stronger | $570.7M | $240.9M |
| Stockholders' EquityBook value | $1.1B | $579.1M |
| Total Assets | $2.5B | $1.1B |
| Debt / EquityLower = less leverage | 0.51× | 0.42× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $98.7M | — | ||
| Q3 25 | $83.8M | $7.5M | ||
| Q2 25 | $124.5M | $14.8M | ||
| Q1 25 | $71.6M | $13.3M | ||
| Q4 24 | $83.8M | $11.9M | ||
| Q3 24 | $78.6M | $11.1M | ||
| Q2 24 | $72.9M | $9.4M | ||
| Q1 24 | $60.1M | $10.3M |
| Q4 25 | $570.7M | — | ||
| Q3 25 | $525.8M | $240.9M | ||
| Q2 25 | $482.1M | $233.2M | ||
| Q1 25 | $296.7M | $235.4M | ||
| Q4 24 | $330.0M | $272.5M | ||
| Q3 24 | $359.1M | $197.3M | ||
| Q2 24 | $405.7M | $209.2M | ||
| Q1 24 | $399.9M | $196.8M |
| Q4 25 | $1.1B | — | ||
| Q3 25 | $1.1B | $579.1M | ||
| Q2 25 | $1.0B | $578.2M | ||
| Q1 25 | $910.2M | $574.2M | ||
| Q4 24 | $855.1M | $573.9M | ||
| Q3 24 | $858.8M | $570.6M | ||
| Q2 24 | $788.4M | $569.5M | ||
| Q1 24 | $747.6M | $563.0M |
| Q4 25 | $2.5B | — | ||
| Q3 25 | $2.4B | $1.1B | ||
| Q2 25 | $2.2B | $1.1B | ||
| Q1 25 | $1.9B | $1.1B | ||
| Q4 24 | $1.8B | $1.0B | ||
| Q3 24 | $1.9B | $1.0B | ||
| Q2 24 | $1.9B | $1.0B | ||
| Q1 24 | $1.9B | $1.0B |
| Q4 25 | 0.51× | — | ||
| Q3 25 | 0.50× | 0.42× | ||
| Q2 25 | 0.48× | 0.40× | ||
| Q1 25 | 0.33× | 0.41× | ||
| Q4 24 | 0.39× | 0.47× | ||
| Q3 24 | 0.42× | 0.35× | ||
| Q2 24 | 0.51× | 0.37× | ||
| Q1 24 | 0.53× | 0.35× |
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 | $-5.4M |
| Free Cash FlowOCF − Capex | $-17.1M | $-12.9M |
| FCF MarginFCF / Revenue | -2.1% | -2.6% |
| Capex IntensityCapex / Revenue | 5.2% | 1.5% |
| Cash ConversionOCF / Net Profit | — | -2.50× |
| TTM Free Cash FlowTrailing 4 quarters | $-20.3M | $41.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $24.7M | — | ||
| Q3 25 | $1.4M | $-5.4M | ||
| Q2 25 | $27.7M | $15.5M | ||
| Q1 25 | $54.8M | $49.4M | ||
| Q4 24 | $60.7M | $14.6M | ||
| Q3 24 | $57.3M | $24.6M | ||
| Q2 24 | $40.5M | $-2.9M | ||
| Q1 24 | $39.6M | $-2.6M |
| Q4 25 | $-17.1M | — | ||
| Q3 25 | $-30.5M | $-12.9M | ||
| Q2 25 | $200.0K | $6.8M | ||
| Q1 25 | $27.1M | $40.6M | ||
| Q4 24 | $44.7M | $7.4M | ||
| Q3 24 | $43.8M | $15.6M | ||
| Q2 24 | $13.7M | $-11.3M | ||
| Q1 24 | $-4.3M | $-7.4M |
| Q4 25 | -2.1% | — | ||
| Q3 25 | -4.1% | -2.6% | ||
| Q2 25 | 0.0% | 1.4% | ||
| Q1 25 | 4.2% | 8.2% | ||
| Q4 24 | 7.2% | 1.8% | ||
| Q3 24 | 6.7% | 3.3% | ||
| Q2 24 | 2.1% | -2.2% | ||
| Q1 24 | -0.7% | -1.4% |
| Q4 25 | 5.2% | — | ||
| Q3 25 | 4.3% | 1.5% | ||
| Q2 25 | 4.0% | 1.7% | ||
| Q1 25 | 4.3% | 1.8% | ||
| Q4 24 | 2.6% | 1.7% | ||
| Q3 24 | 2.1% | 1.9% | ||
| Q2 24 | 4.1% | 1.6% | ||
| Q1 24 | 7.3% | 0.9% |
| Q4 25 | — | — | ||
| Q3 25 | 0.03× | -2.50× | ||
| Q2 25 | 0.54× | 2.96× | ||
| Q1 25 | 1.10× | 19.70× | ||
| Q4 24 | 1.48× | 3.75× | ||
| Q3 24 | 1.24× | 9.01× | ||
| Q2 24 | 0.86× | -0.38× | ||
| Q1 24 | 1.53× | -0.30× |
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% |
ZEUS
| Carbon Flat Products | $268.2M | 55% |
| Specialty Metals Flat Products | $140.9M | 29% |
| Tubular And Pipe Products | $81.6M | 17% |
