Does Modine Manufacturing Company have an economic moat?

Based on its FY2026 SEC filings, the Moat Index scores Modine Manufacturing Company (MOD) 47.6 out of 100 — a Shallow moat. The four filters behind that score (each 0–100): pricing power 15, returns on capital 53, balance-sheet safety 65, capital discipline 71.

Is MOD stock trading below its intrinsic value?

Against a deliberately conservative owner-earnings model (9% discount rate, 4% assumed growth, capped at 4%), estimated intrinsic value is $53.47 per share versus a recent price of $229.34 — 329% above value. This is an educational estimate computed from primary SEC filings, not investment advice.

How has MOD's Moat Score changed over time?

The record logs 3 readings since Jul 17, 2026; the latest reads 47.6 out of 100 (shallow moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.

The Moat Index

Modine Manufacturing Company

MOD · Consumer Discretionary · $12.1B mkt cap · FY2026 filings · Shallow moat ·

Doesn't clear the bar

Shallow moat

The four filters

Pricing power15

Median gross margin 16.9% over 10y, stable.

Returns on capital53

Median ROIC 12.3%, above the 9% hurdle in 60% of years.

Balance-sheet safety65

Net debt/EBITDA 0.9x, interest coverage 11x.

Capital discipline71

Owner earnings +26.9%/yr, share count growing (dilution).

Margin of safety

Above valueOn sale

329% above value

Owner earnings (normalized): $156.9M
Est. intrinsic value / share: $53.47
Recent price: $229.34
Discount to value: 329% above value

Conservative model: 9% discount rate, 4% assumed growth (capped at 4%), maintenance capex ≈ min(capex, D&A).

18 years of fundamentals

The business, in plain English

Modine Manufacturing Company booked $3.2B of revenue in FY2026 in the Consumer Discretionary sector and kept 23.0% of it as gross profit — a moderate-margin business by that measure. After every other cost, 3.8% of each revenue dollar reached the bottom line.

Across the filed record, revenue grew from $1.2B (FY2010) to $3.2B (FY2026) — about 6.5% a year compounded over 16 years.

It earned 14.5% on invested capital in FY2026, with a median of 7.9% across 17 filed years. The Returns on Capital filter above scores it 53/100.

The balance sheet carried $436.3M of total debt in FY2026 against $121.5M of owner earnings — roughly 3.6 years of owner earnings to retire it all. Balance-Sheet Safety scores it 65/100.

The share count rose 13.5% between FY2011 and FY2026 — existing owners have been diluted over the record. Capital Discipline scores it 71/100.

Put together: Capital Discipline is the strongest of the four filters (71/100) and Pricing Power the weakest (15/100), which is how MOD lands at 48/100 — a Shallow moat.

This breakdown is generated from the filed numbers and sub-scores above — no outside narrative, no estimates. Where a filing doesn’t disclose an input, the sentence that would need it is omitted instead of guessed.

RevenueSales, as filed$3.2B FY2026

Gross marginRevenue kept after cost of goods23.0% FY2026

Return on invested capitalOperating profit on the capital employed14.5% FY2026

Owner earningsCash an owner could take out$121.5M FY2026

Gaps in a line mean that item isn’t in MOD’s filings for that year — the series is never interpolated or estimated. The Table view lists every filed value, including operating and net margins, total debt, and share count.

Moat Score history

Moat Score over timeLast scored reading of each day, on the 0–100 scale47.6 / 100

Score history begins Jul 17, 2026 — the record builds from here and can’t be backfilled.

Tier changesSame-methodology crossings of the Wide / Narrow / Shallow bars

None yet — MOD has read Shallow moat for every logged capture since Jul 17, 2026.

Scores are logged append-only and never overwritten — this record can’t be backfilled, which is exactly why it’s worth keeping.

Consumer Discretionary context

#167 of 340 scored Consumer Discretionary companies, ranked by Moat Score.

Nearest peers by Moat Score

#165DLTH DULUTH HOLDINGS INC.47.8 out of 100, Shallow moatShallow moat
#166EZPW EZCORP, INC.47.7 out of 100, Shallow moatShallow moat
#168CNTY CENTURY CASINOS INC /CO/47.6 out of 100, Shallow moatShallow moat
#169NSIT INSIGHT ENTERPRISES, INC.47.6 out of 100, Shallow moatShallow moat

Compare MOD with its nearest peers →All Consumer Discretionary companies on the Index →

Common questions about MOD

Does Modine Manufacturing Company have an economic moat?: Based on its FY2026 SEC filings, the Moat Index scores Modine Manufacturing Company (MOD) 47.6 out of 100 — a Shallow moat. The four filters behind that score (each 0–100): pricing power 15, returns on capital 53, balance-sheet safety 65, capital discipline 71.
Is MOD stock trading below its intrinsic value?: Against a deliberately conservative owner-earnings model (9% discount rate, 4% assumed growth, capped at 4%), estimated intrinsic value is $53.47 per share versus a recent price of $229.34 — 329% above value. This is an educational estimate computed from primary SEC filings, not investment advice.
How has MOD's Moat Score changed over time?: The record logs 3 readings since Jul 17, 2026; the latest reads 47.6 out of 100 (shallow moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.

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Scored from primary SEC filings via the public methodology. Educational only — not a recommendation to buy or sell MOD. See the disclaimer.