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PaymentsToAcquirePropertyPlantAndEquipment","accession":"0001104659-26-088569","source_url":"https://data.sec.gov/api/xbrl/companyfacts/CIK0000067347.json","retrieved_at":"2026-09-19T18:57:31+00:00","reviewed_through":null}},"cash":{"value":95300000.0,"provenance":{"form":"10-Q","class":"reported","filed":"2026-07-30","concept":"CashAndCashEquivalentsAtCarryingValue","accession":"0001104659-26-088569","source_url":"https://data.sec.gov/api/xbrl/companyfacts/CIK0000067347.json","retrieved_at":"2026-09-19T18:57:31+00:00","reviewed_through":null}},"capex":{"value":46400000.0,"provenance":{"form":"10-Q","class":"reported","filed":"2026-07-30","concept":"PaymentsToAcquirePropertyPlantAndEquipment","accession":"0001104659-26-088569","source_url":"https://data.sec.gov/api/xbrl/companyfacts/CIK0000067347.json","retrieved_at":"2026-09-19T18:57:31+00:00","reviewed_through":null}},"revenue":{"value":874100000.0,"provenance":{"form":"10-Q","class":"reported","filed":"2026-07-30","concept":"RevenueFromContractWithCustomerExcludingAssessedTax","accession":"0001104659-26-088569","source_url":"https://data.sec.gov/api/xbrl/companyfacts/CIK0000067347.json","retrieved_at":"2026-09-19T18:57:31+00:00","reviewed_through":null}},"net_income":{"value":73900000.0,"provenance":{"form":"10-Q","class":"reported","filed":"2026-07-30","concept":"NetIncomeLoss","accession":"0001104659-26-088569","source_url":"https://data.sec.gov/api/xbrl/companyfacts/CIK0000067347.json","retrieved_at":"2026-09-19T18:57:31+00:00","reviewed_through":null}},"period_end":"2026-06-30","eps_diluted":{"value":1.37,"provenance":{"form":"10-Q","class":"reported","filed":"2026-07-30","concept":"EarningsPerShareDiluted","accession":"0001104659-26-088569","source_url":"https://data.sec.gov/api/xbrl/companyfacts/CIK0000067347.json","retrieved_at":"2026-09-19T18:57:31+00:00","reviewed_through":null}},"fiscal_label":"2027Q1","gross_profit":{"value":182000000.0,"provenance":{"form":"10-Q","class":"reported","filed":"2026-07-30","concept":"GrossProfit","accession":"0001104659-26-088569","source_url":"https://data.sec.gov/api/xbrl/companyfacts/CIK0000067347.json","retrieved_at":"2026-09-19T18:57:31+00:00","reviewed_through":null}},"debt_long_term":null,"shares_diluted":{"value":54000000.0,"provenance":{"form":"10-Q","class":"reported","filed":"2026-07-30","concept":"WeightedAverageNumberOfDilutedSharesOutstanding","accession":"0001104659-26-088569","source_url":"https://data.sec.gov/api/xbrl/companyfacts/CIK0000067347.json","retrieved_at":"2026-09-19T18:57:31+00:00","reviewed_through":null}},"operating_income":{"value":74800000.0,"provenance":{"form":"10-Q","class":"reported","filed":"2026-07-30","concept":"OperatingIncomeLoss","accession":"0001104659-26-088569","source_url":"https://data.sec.gov/api/xbrl/companyfacts/CIK0000067347.json","retrieved_at":"2026-09-19T18:57:31+00:00","reviewed_through":null}}}],"retrieved_at":"2026-09-19T18:57:31+00:00"},"notes":[],"memory":{"as_of":"2026-09-18","bands":{"1d":{"p10":-1.707,"p50":0.132,"p90":1.913,"p_up":0.567},"5d":{"p10":-3.961,"p50":0.363,"p90":6.313,"p_up":0.563},"10d":{"p10":-5.8,"p50":0.416,"p90":9.581,"p_up":0.543}},"state":"down/below/off/stuck/ordinary/mid/some","reason":null,"coverage":"ok","analogs_n":300,"disclaimer":"Historical distributions of what followed similar states, measured before today's news. Not a forecast; no side."},"schema":"company_file.v1","thesis":{"view":"The central question is how the retained cooling businesses perform after separation. This model excludes Performance Technologies from every revenue estimate and uses external segment sales to avoid double counting. Q1 retained external revenue was $596.3M versus $874.1M for the consolidated company. Strong data-center growth came with margin pressure from supply constraints and factory expansion. The September 17 transaction update targets October 1 and reduces the expected parent cash distribution from $210M to $159M. Neither that distribution nor distributed Gentherm shares is recurring retained operating income.","scenario_ranges":"Explicit downside/base/upside business assumptions; not price targets, probabilities or historical market-memory bands.","what_changes_it":"Confirm final transaction terms and obtain standalone cost, tax and cash-flow disclosures. Then compare external retained revenue, cooling margins and cash investment with this scoped model; the old full-company guidance is not the comparison base."},"no_side":true,"sources":[{"url":"https://www.sec.gov/Archives/edgar/data/67347/000110465926088230/mod-20260729xex99d1.htm","title":"July 29 Q1 fiscal 2027 results; guidance includes PT","retrieved":"2026-09-19"},{"url":"https://www.sec.gov/Archives/edgar/data/67347/000110465926088569/mod-20260630x10q.htm","title":"July 30 Form 10-Q: external segment sales and capital spending","retrieved":"2026-09-19"},{"url":"https://www.sec.gov/Archives/edgar/data/67347/000110465926108614/tm2625565d1_ex99-1.htm","title":"September 17 revised distribution and expected October close","retrieved":"2026-09-19"},{"url":"https://www.sec.gov/Archives/edgar/data/67347/000110465926106727/tm2625001d1_ex99-1.htm","title":"September 10 proposed Modexus Solutions name after separation","retrieved":"2026-09-19"}],"business":{"drivers":["Data-center cooling deliveries and factory ramp execution","HVAC mix, warranty costs and retained margins","Standalone costs, capex and separation cash terms"],"description":"Modine manufactures thermal-management systems. Its retained Data Centers business cools computing infrastructure, while Commercial HVAC supplies air-treatment, refrigeration and heat-transfer products. It plans to separate Performance Technologies and combine that business with Gentherm on October 1, subject to closing conditions. This model covers only the retained businesses; the historical financial table still contains the pre-separation consolidated company."},"earnings":{"source":"estimated from 10-Q filed 2026-07-30 plus 90 days","next_report_date":"2026-10-28"},"identity":{"cik":67347,"sic":"3714","name":"MODINE MANUFACTURING CO","symbol":"MOD","cluster":"AI infrastructure & power","exchange":"NYSE"},"research":{"risks":["Separation remains conditional and final economic terms may change.","The retained cash-flow allocation is not yet disclosed.","Supplier bottlenecks and factory transfers can delay shipments and pressure margins.","Warranty and material costs can offset data-center revenue growth.","Standalone costs and tax structure may exceed desk assumptions.","The historical consolidated company and retained forecasts have different scope."],"title":"Cooling growth on a consistent retained-business basis","question":"Can Data Centers and HVAC cover standalone costs and investment after Performance Technologies is separated?","economics":"Q1 Data Centers external sales were $348.4M and HVAC external sales $247.9M; reported total segment sales include $13.9M of intersegment activity. Data Centers sales grew 90%, but its reported gross margin fell to 20.2% because of expansion costs, supply constraints, materials and warranty effects. Consolidated CFO of $41.4M was below $46.4M capex and does not reveal retained cash generation. The model therefore labels the Q1 retained cash reconstruction as estimated. July adjusted EBITDA guidance of $650M-$680M still includes Performance Technologies for the full year. The September update expects the separation/merger on October 1 and an adjusted $159M cash distribution to Modine. Gentherm shares go to Modine shareholders; the retained parent does not own the distributed stake. Final standalone disclosures are needed before making a complete earnings or valuation claim.","change_note":"First retained-business operating scenarios using the September 17 revised transaction terms. Revenue estimates explicitly exclude PT; reconstructed retained cash is labeled as an assumption.","checkpoints":[{"event":"Spin-off and merger","watch":"Confirm closing, final parent distribution and distributed-share terms.","timing":"October 1, 2026 expected; September 28 record date","date_status":"estimated"},{"event":"Standalone outlook","watch":"Replace full-company guidance with retained revenue, cost and cash disclosures.","timing":"After transaction close; date unconfirmed","date_status":"estimated"},{"event":"Cooling factory execution","watch":"Check external segment sales, delivery constraints, warranty costs and retained capex.","timing":"Next quarterly results","date_status":"estimated"}],"countercase":"A faster cooling ramp can still consume cash and depress margins if suppliers, commissioning or quality lag. Separation can leave stranded costs and a less diversified company. A smaller parent distribution also limits the financing cushion relative to the earlier transaction reference.","limitations":["RETAINED-BUSINESS SCOPE: revenue estimates exclude Performance Technologies in every period. They are not the original consolidated company or the July full-company guidance, and are not an official discontinued-operations restatement.","The July $650M-$680M adjusted EBITDA guidance and 20%-35% revenue-growth range include Performance Technologies for the full fiscal year. They cannot be compared directly with this retained-business model.","Corporate allocation, standalone costs, future intercompany trading, tax structure and separation adjustments are not finalized. Operating earnings and cash are analytical proxies, not forecast GAAP statements or company pro formas.","Q1 external retained revenue is derived from disclosed segment revenue. Q1 retained cash flow was not disclosed; its reconstruction is an assumption and the FY2027 cash totals are partly estimated even for the elapsed quarter.","The September 17 update targets an October 1 separation/merger, subject to closing conditions. The estimated parent cash distribution is $159M, replacing the earlier $210M reference; final terms may change.","Shares in the combined Gentherm are distributed to Modine shareholders, not held by the retained parent. No value for those shares, closing cash, parent debt paydown, separation taxes or forward EPS is assumed in the operating outputs.","Expansion capex, warranty costs and working capital can absorb the retained growth. Historical consolidated cash and financial statements include the business being separated and are not directly comparable with these scoped forecasts."],"reviewed_at":"2026-09-19"},"estimates":{"rows":[{"eps":null,"as_of":"2026-09-19","basis":"Desk base scenario. Revenue basis: Retained-business revenue; excludes PT ($M). Calculated from the operating-model inputs below; not consensus or company guidance.","class":"estimate","period":"2027Q2","revenue":728156000.0},{"eps":null,"as_of":"2026-09-19","basis":"Desk base scenario. Revenue basis: Retained-business revenue; excludes PT ($M). Calculated from the operating-model inputs below; not consensus or company guidance.","class":"estimate","period":"2027Q3","revenue":872473999.9999999},{"eps":null,"as_of":"2026-09-19","basis":"Desk base scenario. Revenue basis: Retained-business revenue; excludes PT ($M). Calculated from the operating-model inputs below; not consensus or company guidance.","class":"estimate","period":"2027Q4","revenue":1021750000.0},{"eps":null,"as_of":"2026-09-19","basis":"Desk base scenario. Revenue basis: Retained-business revenue; excludes PT ($M). Calculated from the operating-model inputs below; not consensus or company guidance.","class":"estimate","period":"2028Q1","revenue":1096388000.0}],"basis":"Desk base scenario from the operating model; not consensus. Revenue basis: Retained-business revenue; excludes PT ($M).","consensus":null,"revisions":[]},"scorecard":{"inside_5d":null,"notes_scored":0,"band_coverage_5d":null},"disclosure":"All positions in the Research Model Portfolio are simulated. No real money is invested in this model. Our research is free and is not tailored to any reader's financial circumstances.","operating_model":{"cells":[{"id":"q1_dc_revenue","case":"shared","kind":"reported","unit":"USD_millions","basis":"Reported consolidated amount, converted from thousands to millions.","label":"Q1 Data Centers external revenue","value":348.4,"period":"2027Q1","formula":null,"source_url":"https://www.sec.gov/Archives/edgar/data/67347/000110465926088569/mod-20260630x10q.htm","source_date":"2026-07-30"},{"id":"q1_hvac_revenue","case":"shared","kind":"reported","unit":"USD_millions","basis":"Reported consolidated amount, converted from thousands to millions.","label":"Q1 HVAC external revenue","value":247.9,"period":"2027Q1","formula":null,"source_url":"https://www.sec.gov/Archives/edgar/data/67347/000110465926088569/mod-20260630x10q.htm","source_date":"2026-07-30"},{"id":"q1_pt_revenue","case":"shared","kind":"reported","unit":"USD_millions","basis":"Reported consolidated amount, converted from thousands to 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