Mayville Engineering (MEC) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Sep 11, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 5, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the MEC SEC filings page.
Mayville Engineering (MEC) reported $586.3M in revenue over the twelve months to Jun 30, 2026, up 11.8% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 9 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Goodwill-led balance-sheet expansion increased leverage while FY2025 margin compression separated positive cash generation from reported earnings.
FY2025 produced operating cash flow of$38.6M and free cash flow of$26.9M despite a reported loss, so cash generation exceeded accounting earnings. That gap coincided with$42.0M of depreciation and amortization, indicating cash conversion was helped by the asset base rather than by profitable operations.
Revenue fell
Total assets rose
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Mayville Engineering's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Mayville Engineering has an operating margin of -0.7%, meaning the company loses $1 on every $100 of revenue. This results in a profitability score of 38/100. This is down from 7.7% the prior year.
Mayville Engineering's revenue declined 6.0% year-over-year, from $581.6M to $546.5M. This contraction results in a growth score of 19/100.
Mayville Engineering has a moderate D/E ratio of 1.34. This balance of debt and equity financing earns a leverage score of 41/100.
Mayville Engineering's current ratio of 1.72 indicates adequate short-term liquidity, earning a score of 50/100. The company can meet its near-term obligations, though with limited headroom.
Mayville Engineering has a free cash flow margin of 4.9%, earning a moderate score of 56/100. The company generates positive cash flow after capital investments, but with room for improvement.
Mayville Engineering posts a -3.4% return on equity (ROE), meaning it loses $3 for every $100 of shareholders' equity. This results in a returns score of 40/100. This is down from 10.3% the prior year.
Mayville Engineering scores 2.10, placing it in the grey zone between 1.81 and 2.99. This signals moderate financial risk that warrants monitoring.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Mayville Engineering passes 3 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, neither operating efficiency signal passes.
Mayville Engineering reported a net loss of $8.1M while generating $38.6M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.
Mayville Engineering reported an operating loss of $3.8M against $10.2M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Mayville Engineering generated $163.0M in revenue in Q2 2026. This represents an increase of 23.2% from the same quarter a year earlier. Against the prior quarter it is up 12.6%.
Mayville Engineering's EBITDA was $12.1M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 22.5% from the same quarter a year earlier. Against the prior quarter it is up 240.0%.
Mayville Engineering reported -$2.1M in net income in Q2 2026. This represents a decrease of 91.0% from the same quarter a year earlier. Against the prior quarter it is up 74.4%.
Mayville Engineering earned -$0.09 per diluted share (EPS) in Q2 2026. This represents a decrease of 80.0% from the same quarter a year earlier. Against the prior quarter it is up 77.5%.
Cash & Balance Sheet
Mayville Engineering recorded an outflow of $6.6M in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents a decrease of 153.1% from the same quarter a year earlier. Against the prior quarter it is up 4.2%.
Mayville Engineering held $2.2M in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Margins & Returns
Mayville Engineering's gross margin was 10.9% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is up 0.6 percentage points from the same quarter a year earlier. Against the prior quarter it is up 3.3 percentage points.
Mayville Engineering's operating margin was 0.2% in Q2 2026, reflecting core business profitability. This is up 0.2 percentage points from the same quarter a year earlier. Against the prior quarter it is up 5.5 percentage points.
Mayville Engineering's net profit margin was -1.3% in Q2 2026, showing the share of revenue converted to profit. This is down 0.5 percentage points from the same quarter a year earlier. Against the prior quarter it is up 4.4 percentage points.
Mayville Engineering's ROE was -0.6% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 0.2 percentage points from the same quarter a year earlier. Against the prior quarter it is up 2.9 percentage points.
Capital Allocation
Mayville Engineering invested $8.1M in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 230.3% from the same quarter a year earlier. Against the prior quarter it is up 93.1%.
Not reported for Q2 2026.
Not reported for Q2 2026.
MEC Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $163.0M+23.2% | $144.8M+6.8% | $134.3M+10.7% | $144.3M+6.6% | $132.3M-19.1% | $135.6M-15.9% | $121.3M-18.4% | $135.4M-14.4% |
| Cost of Revenue | $145.3M+22.4% | $133.8M+11.3% | $125.1M+13.2% | $128.4M+8.5% | $118.7M-16.0% | $120.3M-14.3% | $110.5M-15.2% | $118.3M-15.0% |
| Gross Profit | $17.7M+29.9% | $11.0M-28.5% | $9.1M-15.5% | $15.9M-6.8% | $13.6M-38.8% | $15.3M-26.8% | $10.8M-40.7% | $17.1M-10.1% |
| Operating Income | $388K+410.5% | -$7.7M-587.5% | -$5.5M-124.1% | $48K-99.2% | $76K-99.1% | $1.6M-79.3% | $23.0M+330.3% | $5.7M-2.8% |
| EBITDA | $12.1M+22.5% | $3.6M-68.3% | $5.7M-82.4% | $11.4M-25.9% | $9.9M-44.2% | $11.2M-34.1% | $32.6M+117.0% | $15.3M-1.8% |
| Interest Expense | $3.5M+148.6% | $3.7M+133.6% | $3.8M+90.0% | $3.4M+29.3% | $1.4M-52.9% | $1.6M-53.3% | $2.0M-43.5% | $2.7M-32.1% |
| Income Tax | -$992K-340.9% | -$3.3M-32980.0% | -$5.0M-198.9% | -$707K-807.0% | -$225K-116.1% | -$10K-101.0% | $5.1M+1274.7% | $100K-81.9% |
| Net Income | -$2.1M-91.0% | -$8.2M-40975.0% | -$4.4M-127.3% | -$2.7M-189.9% | -$1.1M-129.0% | $20K-99.4% | $16.0M+617.2% | $3.0M+107.7% |
| EPS (Basic) | -$0.09-80.0% | -$0.40 | -$0.22-128.6% | -$0.13-192.9% | -$0.05-127.8% | $0.00-100.0% | $0.77+670.0% | $0.14+100.0% |
| EPS (Diluted) | -$0.09-80.0% | -$0.40 | -$0.22-128.9% | -$0.13-192.9% | -$0.05-127.8% | $0.00-100.0% | $0.76+590.9% | $0.14+100.0% |
| Diluted Shares (Avg) | 23M+10.0% | 20M-1.5% | N/A | 21M-2.1% | 21M-1.6% | 21M+0.2% | N/A | 21M+2.4% |
Not reported in any period shown, so not listed: R&D Expenses, SG&A Expenses.
MEC Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $588.6M+35.7% | $578.1M+29.1% | $563.6M+26.5% | $585.6M+25.7% | $433.7M-11.1% | $447.7M-10.4% | $445.6M-10.3% | $466.0M-11.2% |
| Current Assets | $159.4M+40.2% | $147.3M+20.7% | $128.4M+13.7% | $142.3M+12.7% | $113.7M-18.9% | $122.0M-16.1% | $112.9M-16.1% | $126.3M-20.0% |
| Cash & Equivalents | $2.2M+969.4% | $2.1M+1029.0% | $1.5M+629.1% | $1.2M+583.7% | $206K-34.4% | $183K-41.7% | $206K-69.3% | $178K-92.3% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $69.3M+28.4% | $66.0M+18.3% | $59.4M+8.5% | $61.2M+0.1% | $53.9M-11.3% | $55.8M-15.5% | $54.8M-19.2% | $61.2M-16.6% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $140.5M+51.6% | $140.2M+51.4% | $140.2M+51.4% | $140.3M+51.4% | $92.7M0.0% | $92.7M0.0% | $92.7M0.0% | $92.7M0.0% |
| Total Liabilities | $263.1M+40.8% | $345.9M+74.9% | $322.9M+66.6% | $340.8M+49.7% | $186.9M-25.3% | $197.7M-25.6% | $193.8M-27.3% | $227.6M-23.5% |
| Current Liabilities | $93.9M+34.9% | $89.7M+23.0% | $74.8M+15.8% | $78.0M+9.3% | $69.6M-14.9% | $72.9M-7.8% | $64.6M-9.9% | $71.4M-12.4% |
| Non-Current Liabilities | $169.2M+44.3% | $256.1M+105.2% | $248.1M+92.0% | $262.8M+68.2% | $117.3M-30.3% | $124.8M-33.2% | $129.2M-33.7% | $156.3M-27.8% |
| Total Equity | $325.5M+31.9% | $232.2M-7.1% | $240.7M-4.4% | $244.8M+2.7% | $246.8M+3.7% | $250.0M+6.8% | $251.8M+9.5% | $238.4M+5.0% |
| Retained Earnings | $41.7M-29.3% | $43.8M-27.1% | $52.0M-13.5% | $56.3M+27.7% | $59.0M+43.4% | $60.1M+60.9% | $60.1M+76.1% | $44.1M+38.3% |
Not reported in any period shown, so not listed: Accounts Receivable, Long-Term Debt.
MEC Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.4M-90.4% | -$2.8M-133.1% | $13.4M-64.7% | $1.9M-89.6% | $15.0M-35.7% | $8.3M-21.6% | $38.0M+42.3% | $17.9M-8.3% |
| Depreciation & Amortization | $11.7M+19.5% | $11.2M+16.9% | $11.3M+17.7% | $11.3M+17.8% | $9.8M+2.9% | $9.6M+2.8% | $9.6M-1.0% | $9.6M-1.2% |
| Stock-Based Compensation | $1.5M+49.7% | $795K-27.8% | N/A | $845K-37.5% | $1.0M-24.7% | $1.1M-4.8% | N/A | $1.4M+1.2% |
| Capital Expenditures | $8.1M+230.3% | $4.2M+41.3% | $3.2M+37.2% | $3.0M+5.0% | $2.4M-40.3% | $3.0M+6.7% | $2.3M-65.4% | $2.9M-17.6% |
| Free Cash Flow | -$6.6M-153.1% | -$6.9M-229.2% | $10.2M-71.5% | -$1.1M-107.6% | $12.5M-34.7% | $5.4M-31.6% | $35.6M+79.1% | $15.1M-6.2% |
| Investing Cash Flow | -$8.1M-230.7% | -$4.2M-41.2% | -$3.1M-48.0% | -$143.1M-4871.1% | -$2.4M+40.4% | -$3.0M-10.9% | -$2.1M+68.1% | -$2.9M+96.9% |
| Financing Cash Flow | $6.8M+154.2% | $7.5M+238.9% | -$10.0M+72.0% | $142.2M+1035.3% | -$12.5M+34.8% | -$5.4M+35.1% | -$35.9M-64.4% | -$15.2M+4.3% |
| Share Buybacks | N/A | N/A | $0-100.0% | $0-100.0% | $2.9M | $1.7M | $3.9M | $998K-0.2% |
Not reported in any period shown, so not listed: Dividends Paid.
MEC Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 10.9%+0.6pp | 7.6%-3.7pp | 6.8%-2.1pp | 11.0%-1.6pp | 10.3%-3.3pp | 11.3%-1.7pp | 8.9%-3.4pp | 12.6%+0.6pp |
| Operating Margin | 0.2%+0.2pp | -5.3%-6.5pp | -4.1%-23.1pp | 0.0%-4.2pp | 0.1%-4.9pp | 1.2%-3.6pp | 19.0%+15.4pp | 4.2%+0.5pp |
| Net Margin | -1.3%-0.5pp | -5.7%-5.7pp | -3.3%-16.4pp | -1.8%-4.0pp | -0.8%-3.1pp | 0.0%-2.0pp | 13.2%+11.7pp | 2.2%+1.3pp |
| Return on Equity | -0.6%-0.2pp | -3.5%-3.5pp | -1.8%-8.2pp | -1.1%-2.3pp | -0.4%-2.0pp | 0.0%-1.4pp | 6.3%+5.4pp | 1.3%+0.6pp |
| Return on Assets | -0.4%-0.1pp | -1.4%-1.4pp | -0.8%-4.3pp | -0.5%-1.1pp | -0.3%-1.0pp | 0.0%-0.7pp | 3.6%+3.1pp | 0.6%+0.4pp |
| Current Ratio | 1.70+0.1x | 1.640.0x | 1.720.0x | 1.82+0.1x | 1.63-0.1x | 1.67-0.2x | 1.75-0.1x | 1.77-0.2x |
| Debt-to-Equity | 0.81+0.1x | 1.49+0.7x | 1.34+0.6x | 1.39+0.4x | 0.76-0.3x | 0.79-0.3x | 0.77-0.4x | 0.96-0.4x |
| Asset Turnover | 0.280.0x | 0.25-0.1x | 0.240.0x | 0.250.0x | 0.310.0x | 0.300.0x | 0.270.0x | 0.290.0x |
| FCF Margin | -4.1%-13.6pp | -4.8%-8.8pp | 7.6%-21.8pp | -0.8%-11.9pp | 9.5%-2.2pp | 4.0%-0.9pp | 29.4%+16.0pp | 11.1%+1.0pp |
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Mayville Engineering MEC | FY2025 | $546.5M | -$8.1M | -1.5% | $487.1M | 41/100 |
| Tredegar TG | FY2025 | N/A | $33.5M | N/A | $257.7M | — |
| Gulf Is Fabrication Inc GIFI | FY2024 | $159.2M | $14.7M | 9.3% | $192.0M | 62/100 |
| Mingteng International MTEN | FY2025 | $11.7M | -$1.8M | -15.3% | $7.6M | 35/100 |
| Techprecision Corp TPCS | FY2026 | $31.6M | -$1.7M | -5.3% | $57.4M | 33/100 |
| Ampco-Pittsburg Corp AP | FY2025 | $434.2M | -$66.1M | -15.2% | $170.2M | 28/100 |
Where Mayville Engineering Ranks
Frequently Asked Questions
What is Mayville Engineering's annual revenue?
Mayville Engineering (MEC) reported $546.5M in total revenue for fiscal year 2025. This represents a -6.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Mayville Engineering's revenue growing?
Mayville Engineering (MEC) revenue declined by 6.0% year-over-year, from $581.6M to $546.5M in fiscal year 2025.
Is Mayville Engineering profitable?
No, Mayville Engineering (MEC) reported a net income of -$8.1M in fiscal year 2025, with a net profit margin of -1.5%.
What is Mayville Engineering's EBITDA?
Mayville Engineering (MEC) had EBITDA of $38.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Mayville Engineering's gross margin?
Mayville Engineering (MEC) had a gross margin of 9.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Mayville Engineering's operating margin?
Mayville Engineering (MEC) had an operating margin of -0.7% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Mayville Engineering's net profit margin?
Mayville Engineering (MEC) had a net profit margin of -1.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Mayville Engineering's return on equity (ROE)?
Mayville Engineering (MEC) has a return on equity of -3.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Mayville Engineering's free cash flow?
Mayville Engineering (MEC) generated $26.9M in free cash flow during fiscal year 2025. This represents a -65.4% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Mayville Engineering's operating cash flow?
Mayville Engineering (MEC) generated $38.6M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Mayville Engineering's total assets?
Mayville Engineering (MEC) had $563.6M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Mayville Engineering's capital expenditures?
Mayville Engineering (MEC) invested $11.6M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Mayville Engineering's current ratio?
Mayville Engineering (MEC) had a current ratio of 1.72 as of fiscal year 2025, which is generally considered healthy.
What is Mayville Engineering's debt-to-equity ratio?
Mayville Engineering (MEC) had a debt-to-equity ratio of 1.34 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Mayville Engineering's return on assets (ROA)?
Mayville Engineering (MEC) had a return on assets of -1.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Mayville Engineering's P/E ratio?
Mayville Engineering (MEC) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $487.1M as of Sep 11, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Mayville Engineering's price-to-sales ratio?
Mayville Engineering (MEC) trades at 0.8x sales, its market capitalization divided by revenue of $586.3M revenue, trailing 12 months to June 30, 2026. The market capitalization is $487.1M as of Sep 11, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Mayville Engineering's Altman Z-Score?
Mayville Engineering (MEC) has an Altman Z-Score of 2.10, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Mayville Engineering's Piotroski F-Score?
Mayville Engineering (MEC) has a Piotroski F-Score of 3 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Mayville Engineering's earnings high quality?
Mayville Engineering (MEC) reported a net loss of $8.1M while generating $38.6M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Mayville Engineering cover its interest payments?
Mayville Engineering (MEC) reported an operating loss of $3.8M against $10.2M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Mayville Engineering?
Mayville Engineering (MEC) scores 41 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.