Modine Manufacturing Company
Statements
Segments
US companies must disclose in their mandatory reports how revenue breaks down across business segments, regions and product lines. We read that breakdown for you straight from the annual and quarterly reports (10-K and 10-Q) of Modine Manufacturing Company (MOD). It shows which part of the business is growing — and which one is holding it back.
Revenue by business segment
| Segment | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Climate Solutions [Member] | MUQ731.2M 40.4% | MUQ910.5M 43.7% · +24.5% | MUQ1.06B 46.0% · +16.0% | MUQ1.11B 46.0% · +4.9% | MUQ1.44B 55.8% · +30.0% | MUQ2.06B 64.7% · +43.1% |
| Performance Technologies [Member] | MUQ1.08B 59.6% | MUQ1.17B 56.3% · +8.8% | MUQ1.24B 54.0% · +5.9% | MUQ1.30B 54.0% · +4.7% | MUQ1.14B 44.2% · -12.1% | MUQ1.13B 35.3% · -1.5% |
Large figure: segment revenue. Below it the share of revenue in that period and the change against the prior year.
| Segment | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Climate Solutions [Member] | MUQ49.9M 6.8% | MUQ73.4M 8.1% | – | MUQ178.6M 16.1% | MUQ248.4M 17.2% | MUQ321.1M 15.6% |
| Performance Technologies [Member] | – | MUQ77.4M 6.6% | – | – | – | – |
Large figure: segment operating income. Below it the margin, that is operating income measured against the revenue of the same segment.
Revenue by region
| Segment | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Americas [Member] | MUQ851.7M 46.3% | MUQ1.07B 51.4% · +25.8% | MUQ1.28B 55.1% · +19.5% | MUQ1.37B 56.4% · +7.0% | MUQ1.69B 65.0% · +23.6% | MUQ2.13B 66.7% · +25.7% |
| Europe [Member] | MUQ718.1M 39.0% | MUQ772.4M 37.1% · +7.6% | MUQ813.5M 35.0% · +5.3% | MUQ839.5M 34.6% · +3.2% | MUQ711.7M 27.3% · -15.2% | MUQ838.2M 26.2% · +17.8% |
| Asia [Member] | MUQ270.2M 14.7% | MUQ239.0M 11.5% · -11.5% | MUQ230.7M 9.9% · -3.5% | MUQ219.9M 9.1% · -4.7% | MUQ199.2M 7.6% · -9.4% | MUQ226.6M 7.1% · +13.8% |
Large figure: segment revenue. Below it the share of revenue in that period and the change against the prior year.
Revenue by product line
| Segment | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Data centers | – | – | – | MUQ294.2M 12.2% | MUQ644.2M 24.9% · +119.0% | MUQ1.11B 35.0% · +72.6% |
| On-Highway Applications | – | – | – | MUQ836.4M 34.7% | MUQ720.8M 27.9% · -13.8% | MUQ716.4M 22.5% · -0.6% |
| Heat Transfer Solutions | – | – | – | MUQ606.4M 25.2% | MUQ539.4M 20.9% · -11.0% | MUQ584.1M 18.4% · +8.3% |
| Heavy-Duty Equipment | – | – | – | MUQ463.3M 19.2% | MUQ422.1M 16.3% · -8.9% | MUQ409.3M 12.9% · -3.0% |
| HVAC Technologies | – | – | – | MUQ207.5M 8.6% | MUQ257.0M 9.9% · +23.9% | MUQ359.2M 11.3% · +39.8% |
| Advanced Solutions [Member] | MUQ98.1M 5.4% | MUQ119.4M 5.8% · +21.7% | MUQ99.3M 4.3% · -16.8% | – | – | – |
| Data Center Cooling [Member] | MUQ64.5M 3.6% | MUQ138.2M 6.7% · +114.3% | MUQ173.8M 7.6% · +25.8% | – | – | – |
| Heat Transfer [Member] | MUQ386.9M 21.4% | MUQ460.4M 22.5% · +19.0% | MUQ541.3M 23.6% · +17.6% | – | – | – |
| HVAC & Refrigeration [Member] | MUQ279.7M 15.5% | MUQ311.5M 15.2% · +11.4% | MUQ341.0M 14.8% · +9.5% | – | – | – |
| Air-Cooled [Member] | MUQ520.3M 28.8% | MUQ572.3M 27.9% · +10.0% | MUQ658.6M 28.7% · +15.1% | – | – | – |
| Liquid-Cooled [Member] | MUQ458.9M 25.4% | MUQ448.3M 21.9% · -2.3% | MUQ483.9M 21.1% · +7.9% | – | – | – |
Large figure: segment revenue. Below it the share of revenue in that period and the change against the prior year.
Segment and region names are the ones the company itself uses and are shown as reported. Change and share refer to revenue.
Data as of: August 11, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q) · Segment figures: SEC EDGAR (10-K/10-Q reports)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.