Is Modine Manufacturing Co. overvalued or undervalued?

As of 19 September 2025, Modine Manufacturing Co. has moved from an expensive to a fair valuation grade. The company appears to be fairly valued based on its current metrics. Key ratios include a P/E ratio of 25, an EV to EBITDA of 14.00, and a PEG ratio of 1.38, which suggest a reasonable valuation relative to its earnings growth prospects.
In comparison to peers, Modine's P/E ratio is lower than John Bean Technologies Corp.'s risky P/E of -236.68 and higher than ESAB Corp.'s fair P/E of 24.12. The EV to EBITDA ratio of 14.00 is also competitive when compared to ESAB's 14.88, indicating a solid position within the industry. Notably, Modine has significantly outperformed the S&P 500 over multiple periods, with a 3-year return of 908.13% compared to the index's 70.89%, reinforcing its strong performance relative to the broader market.