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Modine Manufacturing Co

MOD

Motor Vehicle Parts & Accessories

Mkt Cap

$4.839B

PE

21.45

Debt

$355.3M

Cash

$151.2M

EV

$5.043B

FCF

$155.3M

Market Cap

$4.839B

P/E Ratio

21.45

Debt

$355.3M

Cash

$151.2M

EV

$5.043B

FCF

$155.3M
Charts data: {"Earnings":[{"time":"2015-03-30","value":21600000},{"time":"2016-03-30","value":-1600000},{"time":"2017-03-30","value":14000000},{"time":"2018-03-30","value":22000000},{"time":"2019-03-30","value":84400000},{"time":"2020-03-30","value":-2200000},{"time":"2021-03-30","value":-210700000},{"time":"2022-03-30","value":85200000},{"time":"2023-03-30","value":153100000}],"Sales":[{"time":"2015-03-30","value":1496400000},{"time":"2016-03-30","value":1352500000},{"time":"2017-03-30","value":1503000000},{"time":"2018-03-30","value":2103100000},{"time":"2019-03-30","value":2212700000},{"time":"2020-03-30","value":1975500000},{"time":"2021-03-30","value":1808400000},{"time":"2022-03-30","value":2050100000},{"time":"2023-03-30","value":2297900000}],"Net Margins":[{"time":"2015-03-30","value":0.014434643143544507},{"time":"2016-03-30","value":-0.0011829944547134936},{"time":"2017-03-30","value":0.009314703925482368},{"time":"2018-03-30","value":0.010460748419000522},{"time":"2019-03-30","value":0.03814344466036968},{"time":"2020-03-30","value":-0.0011136421159200203},{"time":"2021-03-30","value":-0.11651183366511833},{"time":"2022-03-30","value":0.04155894834398322},{"time":"2023-03-30","value":0.06662604987162192}],"Assets":[{"time":"2015-03-30","value":931600000},{"time":"2016-03-30","value":920900000},{"time":"2017-03-30","value":1449500000},{"time":"2018-03-30","value":1573400000},{"time":"2019-03-30","value":1538000000},{"time":"2020-03-30","value":1536100000},{"time":"2021-03-30","value":1276700000},{"time":"2022-03-30","value":1427000000},{"time":"2023-03-30","value":1565900000}],"Stockholders Equity":[{"time":"2015-03-30","value":360600000},{"time":"2016-03-30","value":382700000},{"time":"2017-03-30","value":421200000},{"time":"2018-03-30","value":498500000},{"time":"2019-03-30","value":541100000},{"time":"2020-03-30","value":493600000},{"time":"2021-03-30","value":356100000},{"time":"2022-03-30","value":458100000},{"time":"2023-03-30","value":599600000}],"ROE":[{"time":"2015-03-30","value":0.059900166389351084},{"time":"2016-03-30","value":-0.004180820486020381},{"time":"2017-03-30","value":0.03323836657169991},{"time":"2018-03-30","value":0.044132397191574725},{"time":"2019-03-30","value":0.15597856218813527},{"time":"2020-03-30","value":-0.004457050243111832},{"time":"2021-03-30","value":-0.5916877281662455},{"time":"2022-03-30","value":0.1859855926653569},{"time":"2023-03-30","value":0.2553368912608406}],"ROA":[{"time":"2015-03-30","value":0.05678402747960498},{"time":"2016-03-30","value":0.0013030730806819417},{"time":"2017-03-30","value":0.02718178682304243},{"time":"2018-03-30","value":0.05859921189780094},{"time":"2019-03-30","value":0.07132639791937581},{"time":"2020-03-30","value":0.024672872859839854},{"time":"2021-03-30","value":-0.07652541709093758},{"time":"2022-03-30","value":0.08353188507358093},{"time":"2023-03-30","value":0.09604700172424803}]}

Modine Manufacturing Company provides engineered heat transfer systems and heat transfer components for use in on- and off-highway original equipment manufacturer (OEM) vehicular applications. It operates through Climate Solutions and Performance Technologies segments. The company offers gas-fired, hydronic, electric, and oil-fired unit heaters; indoor and outdoor duct furnaces; infrared units; perimeter heating products, such as commercial fin-tube radiation, cabinet unit heaters, and convectors; roof-mounted direct- and indirect-fired makeup air units; unit ventilators; single packaged vertical units; precision air conditioning units for data center applications; air handler units; fan walls; chillers; ceiling cassettes; hybrid fan coils; and condensers and condensing units. It also provides microchannel, heat recovery, round tube plate fin, and motor and generator cooling coils; evaporator unit, fluid, transformer oil, gas, air blast, and dry and brine coolers, as well as remote condensers; and coatings to protect against corrosion. In addition, the company offers powertrain cooling products, including engine cooling modules, radiators, charge air coolers, condensers, oil coolers, fan shrouds, and surge tanks; on-engine cooling products comprising exhaust gas recirculation, engine oil, fuel, charge air, and intake air coolers; auxiliary cooling products, such as transmission and retarder oil coolers, and power steering coolers; and complete battery thermal management systems and electronics cooling packages. It serves heating, ventilation, and cooling OEMs; construction architects and contractors; wholesalers of heating equipment; automobile, truck, bus, and specialty vehicle OEMs; agricultural, industrial, and construction equipment OEMs; and commercial and industrial equipment OEMs. The company has operations in North America, South America, Europe, and Asia. Modine Manufacturing Company was incorporated in 1916 and is headquartered in Racine, Wisconsin.

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Growth

%

%

Discount

%

%

Multiple

g\r+10%+11%+12%+13%+14%
0%109887
+1%1110988
+2%13111098
+3%141311109
+4%1714121110
Years012345678910TV
FCF$155.3M$191M$231M$274.9M$321.5M$369.7M$417.7M$463.6M$505.3M$540.7M$567.7M$5.677B
DCF$166.1M$174.7M$180.7M$183.8M$183.8M$180.6M$174.3M$165.2M$153.7M$140.3M$1.403B
Value$3.106B

In the chart Earnings are multiplied by this value.

Earnings Growth 43%
Earnings Stability 31%


Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years03-201503-201603-201703-201803-201903-202003-202103-202203-2023TTM
Net Margin1.4%-0.12%0.93%1%3.8%-0.11%-12%4.2%6.7%9.3%
ROA5.7%0.13%2.7%5.9%7.1%2.5%-7.7%8.4%9.6%15%
ROE6%-0.42%3.3%4.4%16%-0.45%-59%19%26%31%

What is the average Net Margin?

The average Net Margin over the past 5 years is +0.65%.

What is the trend of Net Margin?

The trend of Net Margin over the past 5 years is +0.5%.

What is the average Return on Assets (ROA)?

The average ROA over the past 5 years is +4.29%.

What is the trend of Return on Assets (ROA)?

The trend of ROA over the past 5 years is +0.35%.

What is the average Return on Equity (ROE)?

The average ROE over the past 5 years is +0.75%.

What is the trend of Return on Equity (ROE)?

The trend of ROE over the past 5 years is +1.6%.


Safety & Stabiliy

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years03-201503-201603-201703-201803-201903-202003-202103-202203-2023TTM
Debt FCF-16.05-22.709.1815.43-36.433.07-13.726.542.29
Debt Equity0.360.401.230.970.840.991.010.860.620.48
MIN
Graham Stability---100%100%-5.5%-610%---610%

What is the Debt/FCF?

The Debt/FCF trailing twelve month is 2.29.

What is the trend of Debt/FCF?

The trend of Debt/FCF over the past 5 years is -1.75.

What is the Graham’s Stability?

Graham’s Stability measure stands at -6.07.


Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years03-201603-201803-202003-2022Trend
Revenue7.9%1.8%5.2%12%0.024%
Net Income-47%-80%-11%
Stockholders Equity6.6%3.8%6.7%31%1.3%
FCF29%1.5%---43%

What is the 5 year Revenue CAGR?

The Revenue CAGR over the past 5 years is +1.79%.

What is the trend of Revenue growth?

The trend of Revenue growth rate over the past 5 years is +0.02%.

What is the 5 year Earnings CAGR?

The Earnings CAGR over the past 5 years is +47.4%.

What is the trend of Earnings growth?

The trend of Earnings growth rate over the past 5 years is -11.35%.

What is the 5 year Equity CAGR?

The Equity CAGR over the past 5 years is +3.76%.

What is the trend of Equity growth?

The trend of Equity growth rate over the past 5 years is +1.31%.

What is the 5 year FCF CAGR?

The FCF CAGR over the past 5 years is +1.47%.

What is the trend of FCF growth?

The trend of FCF growth rate over the past 5 years is -42.98%.