MOD vs WSO Comparison

Modine Manufacturing Co provides thermal management solutions to diversified markets and customers. The company provides engineered heat transfer systems and heat transfer components for use in on- and off-highway original equipment manufacturer (OEM) vehicular applications in the United States. It offers powertrain cooling products, such as engine cooling assemblies, radiators, condensers, and charge air coolers; auxiliary cooling products, including power steering and transmission oil coolers. Its operating segments include Climate Solutions and Performance Technologies.

Watsco is the largest HVAC and refrigeration products distributor in North America with approximately 13% market share. The company primarily operates in the United States (90% of revenue) with significant exposure in the Sunbelt states. Watsco also has operations in Canada, Latin America, and the Caribbean. The company's customer base comprises more than 120,000 dealers and contractors serving the replacement and new-construction HVAC/R markets for residential and light-commercial applications. As much as 20% of residential HVAC units are distributed through Watsco in any given year. Revenue is approximately 75%-80% residential HVAC and 20%-25% commercial, with relatively small exposure to more complex "applied" solutions.