Modine Manufacturing Co. (MOD) intrinsic value & 10-year financials
Modine Manufacturing Co. (MOD) has a Graham intrinsic value of $75.07 per share. At $148.86 on Oct 17, 2026, the stock trades 98% above that value. Over the last 10 fiscal years revenue grew 8.7% a year to $3.2B, with an average return on invested capital of 9.6%.
- Graham intrinsic value
- $75.07
- Share price (Oct 17, 2026)
- $148.86
- Price vs Graham value
- 98% above
- Market cap
- $8.0B
- Revenue (FY2026)
- $3.2B
- Revenue growth (10-yr CAGR)
- 8.7%
- ROIC (10-yr avg)
- 9.6%
- Free cash flow (FY2026)
- $105.4M
MOD 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2026 | $3.2B | $121.5M | $2.26 | $105.4M | 10.8% | 16.5% |
| FY2025 | $2.6B | $184.0M | $3.42 | $129.3M | 11.0% | 18.0% |
| FY2024 | $2.4B | $161.5M | $3.03 | $126.9M | 10.0% | 18.4% |
| FY2023 | $2.3B | $153.1M | $2.90 | $56.8M | 6.5% | 18.2% |
| FY2022 | $2.1B | $85.2M | $1.62 | -$28.8M | 5.8% | 14.2% |
| FY2021 | $1.8B | -$210.7M | -$4.11 | $117.1M | -5.4% | -12.7% |
| FY2020 | $2.0B | -$2.2M | -$0.04 | -$13.4M | 1.9% | 2.1% |
| FY2019 | $2.2B | $84.8M | $1.65 | $29.4M | 5.0% | 12.4% |
| FY2018 | $2.1B | $22.2M | $0.43 | $52.8M | 4.4% | 5.4% |
| FY2017 | $1.5B | $14.2M | $0.29 | -$22.8M | 2.6% | 3.4% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
MODINE MANUFACTURING CO is a consistent compounder, expanding top-line revenue at 8.7% annually over the past decade.
MODINE MANUFACTURING CO returns on capital have been average, hovering around 9.6% ROIC over the decade.
MODINE MANUFACTURING CO has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, MODINE MANUFACTURING CO is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $75.07 per share.