Short answer
MODINE MANUFACTURING CO (MOD) filed its fiscal 2025 10-K annual report with the SEC on May 21, 2025. It reported revenue of $2.6B (+7.3% year over year) and net income of $184M.
- Top risk flagged: Regulatory risk from U.S. and global climate change laws impacting demand and opportunities for alternative technologies
FY2025 key financial metrics · XBRL
- Revenue
- $2.6B
- +7.3% YoY
- Net income
- $184M
- +13.9% YoY
- Operating margin
- 11.0%
- +1.0 pp YoY
- Gross margin
- 24.9%
- +3.1 pp YoY
- EPS (diluted)
- $3.42
- +12.9% YoY
- ROE
- 20.2%
- −1.4 pp YoY
- Operating cash flow
- $213M
- −0.6% YoY
Source: XBRL data from the MODINE MANUFACTURING CO (MOD) FY2025 10-K on SEC EDGAR. USD.
MODINE MANUFACTURING CO FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business: design and manufacture of mission-critical thermal management solutions for commercial, industrial, vehicular, HVAC&R, and data center cooling markets
- New emphasis on data center cooling growth, fueled by Scott Springfield acquisition in March 2024 and 25% net sales share in fiscal 2025 vs 12% in 2024
- Strategic shift to focus on high-growth, high-margin markets led by 80/20 principles, emphasizing data center cooling and sustainability-driven products
- Fiscal 2025 net sales $2.6B (+7% YoY), operating income $283M (+$42M YoY), with 43% sales concentration among top 10 customers
- Noteworthy: sustained investment in global expansion and capacity for data centers driven by AI and high-performance computing trends
Management Discussion & Analysis
- Revenue $2.583B, up 7% YoY; Climate Solutions +$333M (30%), Performance Technologies -$158M (12%)
- Gross margin 24.9% vs 21.8% (+310 bps); operating margin 11.0% vs 10.0% (+100 bps); operating income $283M, +$42M YoY
- Best segment: Climate Solutions sales $1.441B (+30%), operating margin 17.2%; worst: Performance Technologies sales decline 12%
- Capital allocation: $184M spent on Scott Springfield acquisition, $11M on AbsolutAire; sale of German automotive businesses; no explicit dividend or buyback data disclosed
- Outlook: focus on growth in data center cooling and indoor air quality, exiting automotive business; increased 80/20 efficiency discipline; expect margin and cash flow improvements
Risk Factors
- Regulatory risk from U.S. and global climate change laws impacting demand and opportunities for alternative technologies
- Geopolitical exposure to military conflicts in Ukraine and Middle East affecting global logistics and supply chains
- Supplier capacity constraints and logistics challenges risking timely, quality, and cost-effective procurement of materials
- Technology adoption risk in data center cooling and electric vehicles markets versus competitors innovating in those sectors
- Leverage ratio covenant risk tied to net debt/Adjusted EBITDA with sensitivity to credit market tightening and interest rate rises
Generated from the filing text; verify against the original. How to read a 10-K
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