Modine Manufacturing Company Financial Ratios — MOD Stock

Profitability (USD)

	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y	2026 Y
Return on Common Equity (%)	15.57	-9.7	43.06	5.75	-0.41	3.58	5.33	18.18	-0.44	-52.92	25.37	33.62	26.34	23.41	12.94
Return on Assets (%)	4.25	-2.83	14.09	2.22	-0.17	1.2	1.47	5.45	-0.14	-14.98	6.3	10.23	9.45	9.76	5.29
Return on Capital (%)	11.91	- -	- -	5.02	- -	3.49	3.29	- -	-0.69	- -	13.92	- -	17.57	17.02	10.48
Return on Invested Capital (%)	11.01	- -	- -	6.06	- -	4.97	4.36	- -	-1.13	- -	10.51	- -	17.96	18.57	16.9
Gross Margin (%)	16.27	15.16	16.12	16.47	17.27	16.93	16.95	16.52	15.57	16.22	15.09	16.95	21.83	24.92	22.98
EBITDA Margin (%)	8.1	7.13	7.76	7.59	8.41	7.29	8.91	8.96	6.83	8.36	7.27	9.13	12.78	15.07	14.17
Operating Margin (%)	4.44	3.07	3.82	4.14	4.7	3.41	5.26	5.49	2.93	4.56	4.59	6.76	10.45	12.07	11.66
Incremental Operating Margin (%)	18.29	13.77	13.98	29.26	-1.11	-8.24	9.92	9.76	26.77	-14.72	4.84	24.7	87.63	34.15	9.92
Pretax Margin (%)	3.04	-0.94	1.62	2.75	-0.73	1.38	3.01	3.65	0.53	-6.6	4.95	5.45	8.91	9.83	5.86
Profit Margin (%)	2.44	-1.76	8.83	1.46	-0.12	0.94	1.06	3.83	-0.11	-11.65	4.16	6.66	6.71	7.12	3.82
Net Income to Common Margin (%)	2.44	-1.76	8.83	1.46	-0.12	0.94	1.06	3.83	-0.11	-11.65	4.16	6.66	6.71	7.12	3.82
Effective Tax Rate (%)	20.67	- -	- -	46.12	- -	28.37	62.4	- -	119.23	- -	14.98	- -	23.86	26.97	33.89
Dvd Payout Ratio (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Sustainable Growth Rate (%)	15.57	-9.7	43.06	5.75	-0.41	3.58	5.33	18.18	-0.44	-52.92	25.37	33.62	26.34	23.41	12.94

Credit (USD)

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	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y	2026 Y
Total Debt	164	164	164	149	163	511	479	450	482	334	378	353	432	351	436
ST Debt	22	31	33	19	37	105	93	68	30	23	29	23	32	54	51
LT Debt	142	132	131	130	126	406	386	382	452	311	348	329	400	297	385
Total Debt/EBITDA	1.29	1.67	1.43	1.31	1.43	4.67	2.56	2.27	3.57	2.21	2.54	1.68	1.4	0.9	0.97
Net Debt/EBITDA	1.04	1.43	0.67	0.69	0.82	4.35	2.35	2.06	3.05	1.96	2.23	1.36	1.21	0.72	0.8
Total Debt/EBIT	2.35	3.87	2.91	2.4	2.56	9.98	4.33	3.7	8.33	4.05	4.01	2.27	1.71	1.13	1.18
Net Debt/EBIT	1.9	3.3	1.37	1.26	1.47	9.31	3.98	3.36	7.11	3.6	3.53	1.84	1.48	0.9	0.98
EBITDA to Interest Expense	10.22	7.79	9.24	9.71	10.25	6.37	7.32	8	5.95	7.79	9.55	10.14	12.77	14.75	14.26
EBITDA-CapEx/Interest Expense	10.22	7.79	8.9	8.28	6.5	6.31	7.32	5.02	2.81	6.1	6.97	10.14	12.77	14.75	14.26
EBIT to Interest Expense	5.6	3.36	4.56	5.3	5.73	2.98	4.32	4.9	2.55	4.25	6.04	7.51	10.44	11.81	11.74
Interest Expense	12	13	12	12	11	17	26	25	23	19	16	21	24	26	32
Common Equity/Total Assets	29.26	29.01	35.67	41.92	42.22	27.93	27.18	32.84	32.76	22.96	26.53	33.98	37.48	45.8	37.39
Long-Term Debt/Equity (%)	43.51	49.39	30.61	35.94	32.79	96.32	77.49	70.63	91.57	87.39	76.05	54.92	52.93	32.31	32
Long-Term Debt/Capital (%)	33.24	32.82	24.46	23.85	22.5	43.96	42.2	39.73	45.6	49.01	45.61	36.93	35.28	23.98	26.64
Long-Term Debt/Total Assets (%)	15.88	16.18	12.71	13.92	13.63	27.99	24.55	24.85	29.43	24.38	24.41	21.03	21.6	15.47	14.39
Total Debt/Equity (%)	50.38	60.98	38.36	41.24	42.49	121.3	96.17	83.11	97.73	93.93	82.47	58.82	57.13	38.21	36.27
Total Debt/Capital (%)	38.49	40.53	30.65	27.36	29.15	55.36	52.37	46.75	48.66	52.68	49.46	39.56	38.08	28.36	30.2
Total Debt/Total Assets (%)	18.39	19.98	15.93	15.97	17.66	35.25	30.47	29.24	31.4	26.2	26.48	22.52	23.31	18.29	16.31
Net Debt to Equity	40.75	52.11	18.01	21.69	24.48	113.18	88.28	75.4	83.37	83.32	72.6	47.63	49.17	30.41	30.16
Net Debt/Capital (%)	33.6	36.8	17.19	16.53	19.16	53.64	50.23	44.33	44.71	49.68	46.28	34.64	34.61	23.96	26.46
EBITDA	128	98	115	114	114	110	187	198	135	151	149	210	308	389	451
EBITDA-CapEx	128	98	110	97	72	108	187	124	64	118	109	210	308	389	451
Operating Income (Loss)	70	42	56	62	64	51	111	121	58	82	94	155	252	312	371

Liquidity (USD)

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	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y	2026 Y
Cash Ratio	0.11	0.08	0.24	0.23	0.25	0.08	0.08	0.09	0.19	0.08	0.09	0.13	0.11	0.13	0.1
Current Ratio	1.44	1.42	1.4	1.45	1.51	1.21	1.25	1.38	1.7	1.37	1.53	1.67	1.64	1.78	1.94
Quick Ratio	0.83	0.78	0.86	0.85	0.94	0.72	0.74	0.81	0.98	0.65	0.83	0.92	0.88	1.02	1.1
CFO/Avg Current Liab	0.15	0.17	0.33	0.19	0.25	0.11	0.26	0.21	0.14	0.36	0.02	0.21	0.41	0.39	0.39
Common Equity/Total Assets	29.26	29.01	35.67	41.92	42.22	27.93	27.18	32.84	32.76	22.96	26.53	33.98	37.48	45.8	37.39
Long-Term Debt/Equity (%)	43.51	49.39	30.61	35.94	32.79	96.32	77.49	70.63	91.57	87.39	76.05	54.92	52.93	32.31	32
Long-Term Debt/Capital (%)	33.24	32.82	24.46	23.85	22.5	43.96	42.2	39.73	45.6	49.01	45.61	36.93	35.28	23.98	26.64
Long-Term Debt/Total Assets (%)	15.88	16.18	12.71	13.92	13.63	27.99	24.55	24.85	29.43	24.38	24.41	21.03	21.6	15.47	14.39
Total Debt/Equity (%)	50.38	60.98	38.36	41.24	42.49	121.3	96.17	83.11	97.73	93.93	82.47	58.82	57.13	38.21	36.27
Total Debt/Capital (%)	38.49	40.53	30.65	27.36	29.15	55.36	52.37	46.75	48.66	52.68	49.46	39.56	38.08	28.36	30.2
Total Debt/Total Assets (%)	18.39	19.98	15.93	15.97	17.66	35.25	30.47	29.24	31.4	26.2	26.48	22.52	23.31	18.29	16.31
CFO/Total Liabilities	8.07	8.86	17.31	11.13	13.45	4.06	11.55	10.36	5.55	16.27	1.19	11.12	19.58	21.34	16.9
CFO/CapEx	- -	- -	24.88	3.8	1.74	41.7	- -	1.4	0.81	4.58	0.29	- -	- -	- -	- -
Altman's Z-Score	3.1	2.96	3.02	3.3	3.07	2.37	3.1	3.21	2.58	3.14	2.99	3.71	5.93	5.93	3.01

Working Capital (USD)

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	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y	2026 Y
Accounts Receivable Turnover	7.25	6.7	7.11	7.23	7.08	6.21	6.6	6.5	6.26	6.45	6.45	6	5.87	5.73	5.26
Days Sales Outstanding	50.37	54.46	51.33	50.49	51.55	58.81	55.33	56.17	58.3	56.55	56.56	60.8	62.22	63.7	69.41
Inventory Turnover	10.85	9.74	10.52	11.13	10.23	8.93	9.71	9.42	8.17	7.52	7.3	6.3	5.51	5.55	5.79
Days Inventory Outstanding	33.64	37.46	34.69	32.78	35.67	40.85	37.6	38.73	44.65	48.55	49.99	57.96	66.2	65.75	63.09
Accounts Payable Turnover	7.89	7.58	7.69	7.68	7.62	7.01	6.96	6.64	6.59	6.52	6.53	5.93	6.22	6.7	6.92
Accounts Payable Turnover Days	46.28	48.17	47.46	47.52	47.88	52.08	52.42	54.93	55.39	56.01	55.93	61.57	58.72	54.5	52.73
Cash Conversion Cycle	37.73	43.75	38.56	35.75	39.34	47.58	40.51	39.97	47.56	49.1	50.62	57.19	69.71	74.95	79.78
Inventory to Cash Days	16.73	17	16.64	17.71	15.87	17.95	17.73	17.44	13.65	8.01	6.58	2.84	-3.98	-2.04	6.32
Inventories	121	119	117	108	111	168	191	201	207	196	281	325	358	341	506
Raw Materials	89	88	89	81	80	100	114	123	124	117	187	218	208	223	359
Work In Process	- -	- -	- -	- -	- -	28	35	32	35	38	55	50	64	66	95
Finished Goods	32	31	28	27	32	41	42	46	49	40	39	57	86	52	52
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y	2026 Y
Market Capitalization	410	424	697	645	522	611	1,068	703	165	762	469	1,201	4,988	4,129	- -
- Cash & Cash Equivalents	31	24	87	70	69	34	39	42	71	38	45	67	60	72	74
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	1	3	4	5	6	7	8	7	6	7	7	7	8	8	8
+ Total Debt	164	164	164	149	163	511	479	450	482	334	378	353	432	351	436
Enterprise Value	544	566	778	728	622	1,095	1,517	1,118	583	1,066	809	1,493	5,367	4,416	371
Total Capital	427	404	536	544	558	923	915	962	991	635	764	892	1,134	1,237	1,445
Total Debt/Capital (%)	38.49	40.53	30.65	27.36	29.15	55.36	52.37	46.75	48.66	52.68	49.46	39.56	38.08	28.36	30.2
Total Debt / EV	0.3	0.29	0.21	0.2	0.26	0.47	0.32	0.4	0.83	0.31	0.47	0.24	0.08	0.08	1.18
EV/Sales	0.35	0.41	0.53	0.49	0.46	0.73	0.72	0.51	0.29	0.59	0.39	0.65	2.23	1.71	0.12
EV/EBITDA	4.26	5.77	6.79	6.41	5.47	10	8.09	5.64	4.32	7.06	5.43	7.11	17.44	11.34	0.82
EV/EBIT	7.78	13.39	13.78	11.74	9.78	21.39	13.7	9.21	10.06	12.92	8.58	9.61	21.32	14.17	1
EV/Cash Flow to Firm	9.77	7.99	4.51	10.43	8.46	20.27	11.33	8.63	10.88	5.8	32.65	11.24	23.04	18.99	1.38
EV/Free Cash Flow to Firm	9.77	7.99	4.4	8.42	5.4	19.9	11.33	5.49	4.67	4.92	12.43	11.24	23.04	18.99	1.38
Diluted Market Cap	414	424	697	645	522	611	1,077	712	165	762	473	1,217	5,083	4,137	- -
Diluted Enterprise Value	548	566	778	728	622	1,095	1,525	1,127	583	1,066	813	1,509	5,463	4,424	371
EV per Share	11.72	12.16	16.35	15.2	13.12	21.86	30.03	22.06	11.45	20.66	15.55	28.66	102.43	82.09	- -
TTM Sales	1,577	1,376	1,478	1,496	1,352	1,503	2,103	2,213	1,976	1,808	2,050	2,298	2,408	2,584	3,181
TTM EBITDA	128	98	115	114	114	110	187	198	135	151	149	210	308	389	451
TTM Operating Income	70	42	56	62	64	51	111	121	58	82	94	155	252	312	371
TTM Cash Flow to Firm	56	71	173	70	74	54	134	130	54	184	25	133	233	233	270
TTM Free Cash Flow to Firm	56	71	177	87	115	55	134	204	125	217	65	133	233	233	270

Multiples (USD)

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	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y	2026 Y
Price/Free Cash Flow	9.04	8.69	6.42	8.05	4.57	14.31	8.67	4.02	1.28	4.18	9.13	11.32	23.69	19.39	- -
EV/EBIT	7.78	13.39	13.78	11.74	9.78	21.39	13.7	9.21	10.06	12.92	8.58	9.61	21.32	14.17	1
Enterprise Value	544	566	778	728	622	1,095	1,517	1,118	583	1,066	809	1,493	5,367	4,416	371
Low Price	8.09	5.5	8.68	11.25	5.38	8.45	10.1	9.75	2.96	2.84	8.6	7.67	19.41	72.49	64.79
EV/Sales	0.35	0.41	0.53	0.49	0.46	0.73	0.72	0.51	0.29	0.59	0.39	0.65	2.23	1.71	0.12
EV/EBITDA	4.26	5.77	6.79	6.41	5.47	10	8.09	5.64	4.32	7.06	5.43	7.11	17.44	11.34	0.82
Price/Earnings	10.66	- -	5.35	29.6	- -	43.04	48.11	8.29	- -	- -	5.5	7.84	30.89	22.44	- -
Price/Earnings Average	14.39	-14.41	4.55	30.08	-285.49	40.24	42.37	9.36	-241.99	-2.1	7.83	5.54	15.62	31.77	- -
Price/Earnings High	21.66	-18.54	5.73	38.47	-405.27	57.69	58.58	12.91	-385.68	-4	11.32	9.16	34.4	42.94	- -
Price/Earnings Low	9.77	-10.59	3.17	24.72	-159.53	29.81	22.98	5.83	-68.48	-0.7	5.25	2.61	6.3	21.2	- -
Price/Book Value	1.57	1.79	1.89	1.65	1.34	1.51	2.5	1.39	0.33	2.6	1.24	2.26	7.19	4.7	- -
Price/Book Value Average	2.12	1.47	1.61	1.68	1.17	1.41	2.2	1.57	1.06	1.51	1.76	1.59	3.63	6.66	- -
Price/Book Value High	3.19	1.89	2.03	2.15	1.67	2.02	3.04	2.17	1.69	2.87	2.55	2.63	8	8.99	- -
Price/Book Value Low	1.44	1.08	1.12	1.38	0.66	1.05	1.19	0.98	0.3	0.5	1.18	0.75	1.47	4.44	- -
Price/Tangible Book Value	1.41	1.83	1.8	1.93	1.45	5.01	5.48	2.74	0.75	8.99	2.35	3.4	14.83	7.68	- -
Price/Tangible Book Value Average	1.91	1.51	1.53	1.96	1.27	4.68	4.83	3.1	2.41	5.23	3.34	2.4	7.5	10.87	- -
Price/Tangible Book Value High	2.87	1.94	1.93	2.51	1.81	6.71	6.68	4.27	3.84	9.94	4.83	3.97	16.52	14.7	- -
Price/Tangible Book Value Low	1.29	1.11	1.07	1.61	0.71	3.47	2.62	1.93	0.68	1.73	2.24	1.13	3.02	7.25	- -
Price/Sales	0.26	0.31	0.47	0.43	0.39	0.41	0.51	0.32	0.08	0.42	0.23	0.52	2.07	1.6	- -
Price/Sales Average	0.35	0.25	0.4	0.44	0.34	0.38	0.45	0.36	0.27	0.25	0.33	0.37	1.05	2.26	- -
Price/Sales High	0.53	0.33	0.51	0.56	0.48	0.55	0.62	0.49	0.43	0.47	0.47	0.61	2.31	3.06	- -
Price/Sales Low	0.24	0.19	0.28	0.36	0.19	0.28	0.24	0.22	0.08	0.08	0.22	0.17	0.42	1.51	- -
Price/Cash Flow	8.96	8.69	6.67	10.16	7.21	14.66	8.6	6.81	2.86	5.09	40.74	11.17	23.24	19.36	- -
Price/Cash Flow Average	12.1	7.15	5.67	10.33	6.31	13.7	7.57	7.69	9.19	2.96	58.04	7.89	11.75	27.4	- -
Price/Cash Flow High	18.21	9.2	7.15	13.21	8.96	19.64	10.47	10.6	14.65	5.63	83.83	13.04	25.89	37.04	- -
Price/Cash Flow Low	8.21	5.25	3.95	8.49	3.53	10.15	4.11	4.79	2.6	0.98	38.89	3.72	4.74	18.28	- -
Price/Free Cash Flow Average	12.2	7.15	5.45	8.18	4	13.38	7.63	4.53	4.12	2.43	13.01	7.99	11.98	27.45	- -
Price/Free Cash Flow High	18.36	9.2	6.87	10.46	5.68	19.18	10.55	6.25	6.57	4.62	18.79	13.21	26.38	37.11	- -
Price/Free Cash Flow Low	8.28	5.25	3.8	6.72	2.24	9.91	4.14	2.82	1.17	0.8	8.72	3.77	4.83	18.32	- -
EV/Sales Average	0.44	0.36	0.46	0.49	0.41	0.7	0.66	0.55	0.48	0.41	0.49	0.5	1.21	2.37	0.12
EV/Sales High	0.61	0.43	0.56	0.62	0.55	0.87	0.83	0.68	0.64	0.63	0.64	0.74	2.46	3.17	0.12
EV/Sales Low	0.32	0.29	0.33	0.42	0.26	0.6	0.46	0.41	0.29	0.25	0.38	0.3	0.58	1.62	0.12
EV/EBITDA Average	5.39	5.01	5.88	6.5	4.89	9.64	7.41	6.1	7.03	4.95	6.76	5.43	9.43	15.75	0.82
EV/EBITDA High	7.58	6.03	7.22	8.11	6.58	11.9	9.33	7.62	9.38	7.59	8.75	8.07	19.28	21.03	0.82
EV/EBITDA Low	3.99	4.06	4.31	5.47	3.12	8.29	5.11	4.59	4.21	2.98	5.28	3.3	4.54	10.75	0.82
EV/EBIT Average	9.83	11.61	11.93	11.91	8.76	20.61	12.55	9.96	16.4	9.06	10.7	7.34	11.53	19.67	1
EV/EBIT High	13.83	13.98	14.65	14.86	11.77	25.45	15.8	12.44	21.86	13.9	13.84	10.9	23.58	26.27	1
EV/EBIT Low	7.29	9.43	8.75	10.03	5.59	17.72	8.66	7.49	9.81	5.46	8.36	4.45	5.55	13.43	1
Last Price	8.83	9.1	14.65	13.47	11.01	12.2	21.15	13.87	3.25	14.77	9.01	23.05	95.19	76.75	216.71
High Price	17.94	9.63	15.69	17.51	13.68	16.35	25.75	21.6	16.67	16.33	18.54	26.9	106.01	146.84	243.8
Enterprise Value Average	688	491	674	739	557	1,055	1,389	1,209	950	747	1,008	1,140	2,902	6,133	371
Enterprise Value High	968	591	828	922	749	1,303	1,749	1,510	1,266	1,147	1,304	1,694	5,934	8,187	371
Enterprise Value Low	510	399	494	622	355	907	959	910	568	451	787	692	1,396	4,187	371

	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y	2026 Y
Shares Outstanding	47	47	48	48	47	50	50	51	51	52	52	52	52	52	53
Diluted Weighted Avg Shares	47	47	48	48	47	50	51	51	51	52	52	53	53	54	- -
Basic Weighted Avg Shares	46	47	48	48	47	50	50	51	51	52	52	52	52	54	- -
Revenue per Share	33.94	29.53	31.04	31.24	28.53	30	41.65	43.64	38.81	35.05	39.42	44.11	45.95	48.02	- -
EBITDA per Share	2.75	2.11	2.41	2.37	2.4	2.19	3.71	3.91	2.65	2.93	2.87	4.03	5.87	7.24	- -
Operating Income per Share	1.51	0.91	1.19	1.29	1.34	1.02	2.19	2.39	1.14	1.6	1.81	2.98	4.8	5.79	- -
Basic EPS, GAAP	0.83	-0.52	2.74	0.46	-0.03	0.28	0.44	1.67	-0.04	-4.08	1.64	2.94	3.08	3.42	- -
Basic EPS from Cont Ops	0.82	-0.49	2.77	0.46	-0.02	0.3	0.47	1.69	-0.04	-4.06	1.66	2.95	3.12	3.45	- -
Diluted EPS, GAAP	0.82	-0.52	2.74	0.46	-0.03	0.28	0.44	1.65	-0.04	-4.08	1.62	2.9	3.02	3.41	- -
Diluted EPS from Cont Ops	0.81	-0.49	2.77	0.46	-0.02	0.3	0.47	1.67	-0.04	-4.06	1.64	2.91	3.06	3.44	- -
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Flow per Share	0.99	1.05	2.2	1.33	1.53	0.83	2.46	2.04	1.14	2.9	0.22	2.06	4.1	3.96	- -
Free Cash Flow per Basic Share	0.99	1.05	2.11	0.98	0.65	0.81	2.46	0.58	-0.26	2.27	-0.55	2.06	4.1	3.96	- -
Cash & Equivalents per Share	0.68	0.51	1.83	1.47	1.45	0.68	0.78	0.82	1.39	0.73	0.87	1.29	1.15	1.33	- -
Book Value per Share	5.62	5.1	7.74	8.15	8.2	8.08	8.47	9.96	9.89	5.68	7.28	10.21	13.24	16.32	- -
Tangible Book Value per Share	6.25	4.96	8.14	6.98	7.57	2.44	3.86	5.06	4.35	1.64	3.84	6.77	6.42	9.99	- -

Modine Manufacturing Company

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)