Modine Manufacturing (MOD) Gross Margin (2010 - 2025)
Modine Manufacturing (MOD) reported Gross Margin of 23.12% for fiscal Q3 2026 (quarter ended Dec 31, 2025), down 1.14 percentage points from 24.25% a year earlier but up 0.80 percentage points from the prior quarter.
Modine Manufacturing (MOD) Gross Margin (2010 - 2025) Analysis & Trends
Over the twelve months ended Dec 31, 2025, Modine Manufacturing's Gross Margin came in at 23.74%, down 0.39 percentage points year-over-year; for FY2025 (ended Mar 31, 2025), it came in at 24.92%, up 3.09 percentage points from FY2024.
- Gross Margin has increased for three consecutive fiscal years, with a five-year change of +9.35 percentage points (FY2020 to FY2025).
- By fiscal year, Gross Margin came in at 21.83% in FY2024 (+4.88 pp), 16.95% in FY2023 (+1.86 pp), 15.09% in FY2022 (-1.14 pp) and 16.22% in FY2021 (+0.66 pp).
- Five-year quarterly Gross Margin spans a low of 13.84% in fiscal Q2 2022 and a high of 25.65% in fiscal Q4 2025.
- Year over year, Gross Margin has now declined in each of the last three quarters, with an average year-over-year change of +1.52 percentage points over the last eight quarters.
- The high point for year-over-year Gross Margin in five years was fiscal Q3 2024 (a gain of 5.25 percentage points); the low point was fiscal Q2 2022 (a drop of 3.67 percentage points).
- Per Business Quant data, the three fiscal quarters before Q3 2026 came in at 22.32% (Q2 2026), 24.22% (Q1 2026) and 25.65% (Q4 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Trane Technologies | 102.75 Bn | 97.47 Bn | 2.26 Bn | 35.57% |
| 2 | Johnson Controls International | 90.01 Bn | 87.74 Bn | 2.47 Bn | 37.41% |
| 3 | Comfort Systems Usa | 51.61 Bn | 46.86 Bn | 844.23 Mn | 25.85% |
| 4 | Carrier Global | 45.80 Bn | 40.11 Bn | 1.94 Bn | 30.59% |
| 5 | Otis Worldwide | 27.26 Bn | 23.68 Bn | 1.14 Bn | 29.52% |
| 6 | James Hardie Industries | 14.86 Bn | 13.93 Bn | 548.70 Mn | 37.21% |
| 7 | Masco | 14.53 Bn | 12.38 Bn | 868.00 Mn | 43.57% |
| 8 | Allegion | 13.32 Bn | 12.03 Bn | 517.50 Mn | 44.94% |
| 9 | Carlisle Companies | 13.28 Bn | 9.63 Bn | 568.40 Mn | 36.20% |
| 10 | Modine Manufacturing | 7.92 Bn | 7.54 Bn | - | - |
Historic Data
| Date | Value |
|---|---|
| Dec 31, 2025 | 23.12% |
| Sep 30, 2025 | 22.32% |
| Jun 30, 2025 | 24.22% |
| Mar 31, 2025 | 25.65% |
| Dec 31, 2024 | 24.25% |
| Sep 30, 2024 | 25.17% |
| Jun 30, 2024 | 24.58% |
| Mar 31, 2024 | 22.42% |
| Dec 31, 2023 | 22.68% |
| Sep 30, 2023 | 21.77% |
| Jun 30, 2023 | 20.55% |
| Mar 31, 2023 | 18.15% |
| Dec 31, 2022 | 17.43% |
| Sep 30, 2022 | 16.62% |
| Jun 30, 2022 | 15.42% |
| Mar 31, 2022 | 16.57% |
| Dec 31, 2021 | 14.85% |
| Sep 30, 2021 | 13.84% |
| Jun 30, 2021 | 14.80% |
| Mar 31, 2021 | 16.28% |
Modine Manufacturing Gross Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=gross-margin&ticker=MOD&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-margin", "ticker": "MOD", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=gross-margin&ticker=MOD&period=max&api_key=YOUR_API_KEY");
const data = await res.json();