Modine Manufacturing (MOD) Operating Expenses (2010 - 2025)
Modine Manufacturing (MOD) recorded Operating Expenses of $96.8 million in fiscal Q3 2026 (quarter ended Dec 31, 2025), up 7.2% from $90.3 million a year earlier and up 10.9% from the prior quarter.
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Analysis
Modine Manufacturing (MOD) Operating Expenses (2010 - 2025) Analysis & Trends
On a TTM basis, Modine Manufacturing's Operating Expenses came in at $365.3 million as of Dec 31, 2025, up 2.2% year-over-year; for FY2025 (ended Mar 31, 2025), it was $360.3 million, up 24.7% from FY2024.
- Annual Operating Expenses has a five-year compound annual growth rate of 6.6% (FY2020 to FY2025).
- Across earlier fiscal years, Operating Expenses came in at $288.9 million in FY2024 (+20.9%), $239 million in FY2023 (-0.1%), $239.2 million in FY2022 (+6.6%) and $224.3 million in FY2021 (-14.3%).
- The fiscal Q3 2026 figure is the highest quarterly Operating Expenses in data going back to fiscal Q1 2011.
- On a year-over-year basis, Operating Expenses rose in seven of the last eight quarters, with growth averaging 18.9%.
- Peak year-over-year performance for Operating Expenses in the last five years was growth of 43.6% in fiscal Q1 2025, against a decline of 14.6% in fiscal Q4 2023 at the low end.
- Per Business Quant, the preceding three fiscal quarters came in at $87.3 million (Q2 2026), $89.7 million (Q1 2026) and $91.5 million (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Trane Technologies | 101.64 Bn | 96.36 Bn | 2.26 Bn | 1.04 Bn |
| 2 | Johnson Controls International | 89.85 Bn | 87.58 Bn | 2.47 Bn | 1.49 Bn |
| 3 | Comfort Systems Usa | 49.07 Bn | 44.32 Bn | 844.23 Mn | 287.05 Mn |
| 4 | Carrier Global | 46.27 Bn | 40.57 Bn | 1.94 Bn | 5.58 Bn |
| 5 | Otis Worldwide | 27.57 Bn | 23.98 Bn | 1.14 Bn | 3.28 Bn |
| 6 | James Hardie Industries | 15.31 Bn | 14.37 Bn | 548.70 Mn | 327.40 Mn |
| 7 | Masco | 14.84 Bn | 12.70 Bn | 868.00 Mn | 397.00 Mn |
| 8 | Carlisle Companies | 13.54 Bn | 9.89 Bn | 568.40 Mn | 210.70 Mn |
| 9 | Allegion | 13.39 Bn | 12.10 Bn | 517.50 Mn | 262.80 Mn |
| 10 | Modine Manufacturing | 7.84 Bn | 7.46 Bn | - | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Dec 31, 2025 | 96.80 Mn |
| Sep 30, 2025 | 87.30 Mn |
| Jun 30, 2025 | 89.70 Mn |
| Mar 31, 2025 | 91.50 Mn |
| Dec 31, 2024 | 90.30 Mn |
| Sep 30, 2024 | 90.30 Mn |
| Jun 30, 2024 | 88.20 Mn |
| Mar 31, 2024 | 88.50 Mn |
| Dec 31, 2023 | 69.60 Mn |
| Sep 30, 2023 | 69.40 Mn |
| Jun 30, 2023 | 61.40 Mn |
| Mar 31, 2023 | 63.70 Mn |
| Dec 31, 2022 | 58.10 Mn |
| Sep 30, 2022 | 59.40 Mn |
| Jun 30, 2022 | 57.80 Mn |
| Mar 31, 2022 | 74.60 Mn |
| Dec 31, 2021 | 52.40 Mn |
| Sep 30, 2021 | 52.50 Mn |
| Jun 30, 2021 | 59.70 Mn |
| Mar 31, 2021 | 65.70 Mn |
API Access
Modine Manufacturing Operating Expenses 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=operating-expenses&ticker=MOD&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "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=operating-expenses&ticker=MOD&period=max&api_key=YOUR_API_KEY");
const data = await res.json();