SequelSEC

Mayville Engineering Company, Inc. MEC

Metal Forgings & Stampings · CIK 0001766368 · Fiscal year ends 1231

AnnualQuarterlyTTM
Revenue
$546.49M
Fiscal year ended 2025-12-31
Operating income
-$3.84M
Fiscal year ended 2025-12-31
Free cash flow
$26.91M
Fiscal year ended 2025-12-31

Valuation, from the filing

Public float$315.26MMarket value of stock held by non-affiliates, as stated on the cover page for 2025-06-30
Float per share$15.52Float divided by shares outstanding in the same filing. A floor under the share price on that date, not the price itself.
Float / revenue0.6×A lower bound on the multiple, because affiliate holdings are excluded.
Float / equity1.3×A lower bound on the multiple, because affiliate holdings are excluded.

Every figure here is drawn from the 10-K cover page and the statements behind it, so each one traces to a filing. Public float counts only stock held by non-affiliates, which makes these floors rather than estimates: a high multiple is conclusive, a low one may mean cheap or may mean closely held. The float was measured on 2025-06-30, not today, and each multiple below it uses the figures for the fiscal year ending 2025-12-31 — the year that filing covered.

Valuation over time

12.7× earnings today, against a median of 12.7× across 3 years on record. In line with its own history.

Float measuredPublic floatFloat / net income
2024-06-30$330.29M12.7×
2023-06-30$247.24M31.5×
2022-06-30$151.47M8.1×

Each float is paired with the fiscal year the filing that stated it covers. Only years where the company reported positive net income appear, because a multiple against a loss is not a multiple.

Mayville Engineering Company, Inc. (MEC) reported revenue of $546.49M and net income of -$8.11M for the fiscal year ended 2025-12-31. This page shows 9 annual periods of income statement, balance sheet and cash flow figures normalized from Mayville Engineering Company, Inc.’s SEC filings, each linked to the filing it came from. It is classified by the SEC under Metal Forgings & Stampings.

Income

Mayville Engineering Company, Inc. income by fiscal year, in US dollars, normalized from SEC filings.
Metric2025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312018-12-312017-12-31
Revenue$546.49M$581.60M$588.42M$539.39M$454.83M$357.61M$519.70M$354.53M$313.33M
Cost of revenue$492.48M$510.51M$518.72M$478.32M$403.45M$326.10M$460.99M$303.95M$278.59M
Gross profit$54.01M$71.10M$69.70M$61.07M$51.38M$31.50M$58.72M$50.58M$34.74M
Operating income-$3.84M$44.55M$20.19M$25.77M-$7.39M-$6.50M-$1.96M$22.17M$9.43M
Net income-$8.11M$25.97M$7.84M$18.73M-$7.45M-$7.09M-$4.75M$17.94M$5.25M
Research & developmentUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Weighted-average diluted sharesshares 20.47Mshares 20.97Mshares 20.70Mshares 20.68Mshares 20.83Mshares 19.90Mshares 17.45MUnavailableUnavailable
Pretax income-$14.06M$33.56M$8.88M$22.39M-$9.39M-$9.17M-$8.84M$17.48M$5.25M
Income tax expense-$5.95M$7.60M$1.04M$3.67M-$1.94M-$2.07M-$4.09M-$459.00K$0
Diluted EPS$-0.40$1.24$0.38$0.91$-0.36$-0.36$-0.27UnavailableUnavailable
Selling, general & administrativeUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
General & administrativeUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Selling & marketingUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable

Balance

Mayville Engineering Company, Inc. balance by fiscal year, in US dollars, normalized from SEC filings.
Metric2025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312018-12-312017-12-31
Cash & equivalents$1.50M$206.00K$672.00K$127.00K$118.00K$121.00K$1.00K$3.09M$76.00K
Total assets$563.64M$445.57M$496.66M$440.58M$379.47M$338.53M$363.58M$391.72MUnavailable
Current assets$128.41M$112.94M$134.62M$141.30M$132.57M$89.25M$90.48M$112.76MUnavailable
Total liabilities$322.90M$193.82M$266.68M$222.71M$181.20M$137.68M$162.69M$288.74MUnavailable
Current liabilities$74.77M$64.59M$71.71M$102.45M$77.37M$52.74M$48.19M$83.16MUnavailable
Total equity incl. NCI$240.74M$251.75M$229.98M$217.87M$198.27M$200.86M$200.90M$102.99MUnavailable
Temporary (mezzanine) equityUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable$102.99MUnavailable
Inventory$59.40M$54.76M$67.78M$71.71M$70.16M$41.37M$45.69M$53.40MUnavailable
Accounts receivable$57.55M$49.78M$57.44M$58.00M$55.42M$42.08M$40.19M$52.30MUnavailable
Goodwill$140.25M$92.65M$92.65M$71.54M$71.54M$71.54M$71.54M$69.44MUnavailable
Long-term debtUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Accounts payable$52.38M$39.12M$46.53M$53.74M$50.12M$33.50M$32.17M$45.99MUnavailable

Cash flow

Mayville Engineering Company, Inc. cash flow by fiscal year, in US dollars, normalized from SEC filings.
Metric2025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312018-12-312017-12-31
Operating cash flow$38.56M$89.81M$40.36M$52.43M$14.46M$36.52M$33.40M$36.72M$30.80M
Capital expenditures$11.65M$12.10M$16.60M$58.61M$39.31M$7.79M$25.80M$17.88M$11.26M
Investing cash flow-$151.53M-$11.71M-$104.13M-$50.67M-$33.96M-$5.77M-$28.09M-$132.57M-$11.24M
Financing cash flow$114.26M-$78.56M$64.31M-$1.75M$19.50M-$30.63M-$8.40M$98.87M-$19.63M
Net change in cash$1.30M-$466.00K$545.00K$9.00K-$3.00K$120.00K-$3.09M$3.01M-$67.00K
Stock-based compensation$3.28M$5.19M$4.48M$3.76M$4.96M$4.73M$3.49MUnavailableUnavailable
Common dividends paidUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Common share repurchases$4.61M$5.90M$2.66M$4.95M$2.15M$2.51M$2.59M$7.83M$8.71M
Depreciation & amortizationUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable

Derived

Mayville Engineering Company, Inc. derived by fiscal year, in US dollars, normalized from SEC filings.
Metric2025-12-312024-12-312023-12-312022-12-312021-12-312020-12-312019-12-312018-12-312017-12-31
Free cash flow$26.91M$77.71M$23.76M-$6.18M-$24.85M$28.73M$7.60M$18.84M$19.54M
Gross margin9.9%12.2%11.8%11.3%11.3%8.8%11.3%14.3%11.1%
Operating margin-0.7%7.7%3.4%4.8%-1.6%-1.8%-0.4%6.3%3.0%
FCF margin4.9%13.4%4.0%-1.1%-5.5%8.0%1.5%5.3%6.2%
SBC / revenue0.6%0.9%0.8%0.7%1.1%1.3%0.7%UnavailableUnavailable
Current ratio1.72x1.75x1.88x1.38x1.71x1.69x1.88x1.36xUnavailable
Revenue YoY growth-6.0%-1.2%9.1%18.6%27.2%-31.2%46.6%13.1%Unavailable
Net margin-1.5%4.5%1.3%3.5%-1.6%-2.0%-0.9%5.1%1.7%
R&D / revenueUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
CapEx / revenue2.1%2.1%2.8%10.9%8.6%2.2%5.0%5.0%3.6%
Long-term debt / equityUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Effective tax rateUnavailable22.6%11.7%16.4%UnavailableUnavailableUnavailable-2.6%0.0%

Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open MEC in the interactive workspace to inspect any figure back to its filing.

Source filings

10-Q · Filed 2026-08-05View SEC filing
10-Q · Filed 2026-05-06View SEC filing
10-K · Filed 2026-03-04View SEC filing
10-Q · Filed 2025-11-05View SEC filing
10-Q · Filed 2025-08-06View SEC filing
10-Q · Filed 2025-05-07View SEC filing

Companies in the same industry

MTRN PKOH TRS

Reconciliation checks needing review

1 period on this page do not reconcile under this site’s normalization. Read that as a limitation here before an observation about the company: the figures are the filer’s own, the filings linked above are authoritative, and a difference usually means the concepts this site selected do not match how this filer presents its statements. Nothing is adjusted to make a check pass.

balance equationreview2018-12-31

Difference 102989000 exceeds tolerance 1000000. Presentation or filing-vintage differences need review.