diff --git a/upgrade_analysis/__manifest__.py b/upgrade_analysis/__manifest__.py
index d07930884..47e9fdff1 100644
--- a/upgrade_analysis/__manifest__.py
+++ b/upgrade_analysis/__manifest__.py
@@ -21,7 +21,7 @@
     "installable": True,
     "depends": ["base"],
     "external_dependencies": {
-        "python": ["dataclasses", "odoorpc", "openupgradelib"],
+        "python": ["mako", "dataclasses", "odoorpc", "openupgradelib"],
     },
     "license": "AGPL-3",
 }
diff --git a/upgrade_analysis/models/upgrade_analysis.py b/upgrade_analysis/models/upgrade_analysis.py
index 2a6046e54..e9037765c 100644
--- a/upgrade_analysis/models/upgrade_analysis.py
+++ b/upgrade_analysis/models/upgrade_analysis.py
@@ -10,8 +10,9 @@ import os
 from copy import deepcopy
 
 from lxml import etree
+from mako.template import Template
 
-from odoo import fields, models
+from odoo import fields, models, release
 from odoo.exceptions import ValidationError
 from odoo.modules import get_module_path
 from odoo.tools import config
@@ -265,6 +266,12 @@ class UpgradeAnalysis(models.Model):
             _logger.exception("Error generating noupdate changes: %s" % e)
             general_log += "ERROR: error when generating noupdate changes: %s\n" % e
 
+        try:
+            self.generate_module_coverage_file()
+        except Exception as e:
+            _logger.exception("Error generating module coverage file: %s" % e)
+            general_log += "ERROR: error when generating module coverage file: %s\n" % e
+
         self.write(
             {
                 "state": "done",
@@ -494,3 +501,65 @@ class UpgradeAnalysis(models.Model):
                     filename="noupdate_changes.xml",
                 )
         return True
+
+    def generate_module_coverage_file(self):
+        self.ensure_one()
+
+        module_coverage_file_folder = config.get("module_coverage_file_folder", False)
+
+        if not module_coverage_file_folder:
+            return
+
+        file_template = Template(
+            filename=os.path.join(
+                get_module_path("upgrade_analysis"),
+                "static",
+                "src",
+                "module_coverage_template.rst.mako",
+            )
+        )
+
+        module_domain = [
+            ("state", "=", "installed"),
+            ("name", "not in", ["upgrade_analysis", "openupgrade_records"]),
+        ]
+
+        connection = self.config_id.get_connection()
+        all_local_modules = (
+            self.env["ir.module.module"].search(module_domain).mapped("name")
+        )
+        all_remote_modules = (
+            connection.env["ir.module.module"]
+            .browse(connection.env["ir.module.module"].search(module_domain))
+            .mapped("name")
+        )
+
+        start_version = connection.version
+        end_version = release.major_version
+
+        all_modules = sorted(list(set(all_remote_modules + all_local_modules)))
+        module_descriptions = []
+        for module in all_modules:
+            if module in all_local_modules and module in all_remote_modules:
+                module_description = " %s" % module
+            elif module in all_local_modules:
+                module_description = " |new| %s" % module
+            else:
+                module_description = " |del| %s" % module
+            module_descriptions.append(module_description.ljust(49, " "))
+
+        rendered_text = file_template.render(
+            start_version=start_version,
+            end_version=end_version,
+            module_descriptions=module_descriptions,
+        )
+
+        file_name = "modules{}-{}.rst".format(
+            start_version.replace(".", ""),
+            end_version.replace(".", ""),
+        )
+
+        file_path = os.path.join(module_coverage_file_folder, file_name)
+        f = open(file_path, "w+")
+        f.write(rendered_text)
+        f.close()
diff --git a/upgrade_analysis/static/src/module_coverage_template.rst.mako b/upgrade_analysis/static/src/module_coverage_template.rst.mako
new file mode 100644
index 000000000..a9b5f0599
--- /dev/null
+++ b/upgrade_analysis/static/src/module_coverage_template.rst.mako
@@ -0,0 +1,12 @@
+Module coverage ${start_version} -> ${end_version}
+============================
+
+.. include:: coverage_legend.rst
+
++-------------------------------------------------+-------------------------------------------------+
+|Module                                           |Status                                           |
++=================================================+=================================================+
+% for module_description in module_descriptions:
+|${module_description}|                                                 |
++-------------------------------------------------+-------------------------------------------------+
+% endfor