Modine Manufacturing Company
- 거래소
- 미국
- 국가 / 지역
- USA
- 상장일
- 1990년 3월 26일
- 직원 수
- 13,200
- 웹사이트
- www.modine.com
종합 밸류에이션 구간 · 보수적 $70–$100 / 적정 $100–$140 / 낙관적 $140–$180. $230.4 기준, 낙관적 상단 위 · 미래 성장 과도 반영.
보고서 발행 시 $247.13（2026년 5월 19일）
데이터 제공: EODHD, 보고 통화 기준 표시. 참고용일 뿐 투자 자문이 아닙니다.
Modine Manufacturing Company designs, engineers, tests, manufactures, and sells mission-critical thermal solutions in the United States, Canada, Italy, Hungary, the United Kingdom, China, and internationally. It offers heat transfer products, including round tube plate fin construction; gas-fired, hydronic, electric, and oil fired unit heaters; roof-mounted direct- and indirect-fired makeup air units, duct furnaces, infrared units, and perimeter heating products; single packaged unit ventilators, modular chillers, air handler and condensing units, and ceiling cassettes; evaporator unit coolers, remote condensers, fluid coolers, gas coolers, and dry and brine coolers; and motor and generator cooling coils, transformer oil coolers, radiators, dryers, and industrial heat exchangers. The company also provides data center products that consists of IT cooling solutions, including chillers, dry coolers, precision air handling units, computer room air conditioning, computer room air handler units, fan walls, rear-door heat exchangers, coolant distribution units, and immersion solutions, as well as sells replacement parts, maintenance service and control solutions for existing equipment and new building management controls and systems. In addition, it offers powertrain cooling products, such as radiators, condensers, engine cooling modules, charge air coolers, fan shrouds, and surge tanks; cooling module generator sets; aluminum and stainless steel engine oil coolers, exhaust gas recirculation coolers, liquid charge air coolers, transmission and retarder oil coolers, chillers, and condensers; battery thermal management systems, electronics cooling packages, battery chillers, battery cooling plates, coolers and casings for electronics cooling, and coolers for electric axles; and coatings products and application services. The company was incorporated in 1916 and is headquartered in Racine, Wisconsin.
연혁
Modine Manufacturing Company was incorporated in 1916 and is headquartered in Racine, Wisconsin; it became a public company with an IPO on March 26, 1990, and now employs about 13,200 people. The company designs, engineers, tests, manufactures, and sells thermal-management solutions, with operations in the United States, Canada, Italy, Hungary, the United Kingdom, China, and internationally. Over the past five years it shifted from a more traditional, cyclical thermal-management manufacturer toward a company centered on Climate Solutions, with data center cooling and commercial HVAC&R as growth engines; revenue rose from $1.976 billion in FY2020 to $2.584 billion in FY2025, while operating margin improved from 1.9% to 11.0% and gross margin from 15.6% to 24.9% over that period, supported by management's '80/20' approach to focus resources on higher-growth, higher-return products and customers (Neil Brinker has served as CEO since 2020). Key recent moves include acquiring Scott Springfield, Napps, and TMGcore-related technology/assets (FY2024 used about $186 million of cash for M&A plus $12 million for TMGcore technology and related assets) to expand into data center cooling and indoor air quality, and reshaping the portfolio by selling three German automotive businesses and pursuing a Reverse Morris Trust transaction to spin off the Performance Technologies segment and combine it with Gentherm (announced in January 2026, total transaction value about $1 billion), leaving Modine as a more focused Climate Solutions company.
업계 내 위치
Modine operates across thermal-management markets through two segments: Climate Solutions (including data center cooling, HVAC&R, and Heat Transfer Products) and Performance Technologies (air, liquid, and advanced thermal-management solutions for commercial vehicles, off-highway machinery, automotive, power generation, and zero-emission platforms). It sells thermal-management equipment, parts, systems, controls, maintenance services, and related solutions to OEMs, distributors, installers, contractors, data center operators, and industrial end customers; named customers include Carrier, Caterpillar, Deere, Volkswagen, Volvo, and Trane, plus two undisclosed global technology customers, with the top ten customers accounting for 43% of FY2025 revenue and no single customer above 10%. In market-capitalization terms it is far smaller than several comparable HVAC and thermal peers used as reference points such as Trane (about $102.7 billion), Carrier (about $54.4 billion), and Gentherm, versus Modine at about $13.05 billion, alongside Lennox and AAON; rather than being the overall HVAC or data center cooling leader, Modine functions as a strong engineering-focused supplier in several niche thermal-management applications. Its competitive positioning rests on engineering capability, product customization, customer relationships, a global manufacturing footprint, and thermal-management know-how, with switching costs arising because replacing a validated thermal solution in OEM, critical-infrastructure, and data center settings carries verification, reliability, and operational risk. Demand momentum has been concentrated in data center cooling: in fiscal Q3 FY2026, Climate Solutions sales grew 51% year over year, including data center sales up 78% year over year.
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