Mayville Engineering Company, Inc. MEC

Industrials SIC 3460 - Metal Forgings & Stampings NYSE

Mayville Engineering Company, Inc. (MEC) is a leading U.S.-based, vertically integrated, value-added manufacturing partner providing a full suite of manufacturing solutions from concept to production, including design, prototyping and tooling, fabrication, aluminum extrusion, coating, assembly and aftermarket components. Our customers operate in diverse end markets, including heavy- and medium-duty commercial vehicles, construction & access equipment, powersports, data center & critical power, agriculture, military and other end markets. We have developed long-standing relationships with our blue-chip customers based upon our commitment to "Unmatched Excellence". We provide a diverse set of process offerings and a one-source solution with benefits throughout the entire product lifecycle, including front-end collaboration in design and prototyping, product manufacturing, aftermarket components and ancillary supply chain benefits. Founded as a corporation in 1945 and headquartered in Milwaukee, Wisconsin, we are a leading Tier I U.S. supplier of highly engineered components to original equipment manufacturer (OEM) customers with leading positions in their respective markets. We are focused on producing the highest quality components using complex processes at the lowest cost by working with customers throughout the product design and development process to establish optimal solutions. Our engineering expertise and technical know-how allow us to add value through every product redevelopment cycle (generally every three to five years for our customers). According to The Fabricator magazine, we have been ranked as the largest fabricator in the United States for the past 15 years in a row (2011 – 2025).

Last close 19.66 2026-09-04
Market cap $501.3M 2026-06-30 share count
52-week range 12.25 - 38.76

Valuation FY2025 figures against the last close

P/S0.9x
P/E
P/FCF18.6x
EV/EBITDA18.1x
Dividend yield
Diluted EPS-0.40

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
Revenue $546.5M$581.6M$588.4M$539.4M$454.8M$357.6M$519.7M$354.5M$313.3M
Cost of revenue $492.5M$510.5M$518.7M$478.3M$403.5M$326.1M$461.0M$303.9M$278.6M
Gross profit $54.0M$71.1M$69.7M$61.1M$51.4M$31.5M$58.7M$50.6M$34.7M
Operating income -$3.8M$44.6M$20.2M$25.8M-$7.4M-$6.5M-$2.0M$22.2M$9.4M
Interest expense $10.2M$11.0M$11.1M$3.4M$2.0M$2.7M$6.7M$3.9M$4.2M
Pre-tax income -$14.1M$33.6M$8.9M$22.4M-$9.4M-$9.2M-$8.8M$17.5M$5.2M
Income tax $5.9M$7.6M$1.0M$3.7M$1.9M$2.1M$4.1M$459.0K$0
Net income -$8.1M$26.0M$7.8M$18.7M-$7.5M-$7.1M-$4.8M$17.9M$5.2M
EPS, basic -0.401.260.380.92-0.37-0.36-0.27
EPS, diluted -0.401.240.380.91-0.36-0.36-0.271.290.37
Shares, diluted (wtd. avg.) $20.5M$21.0M$20.7M$20.7M$20.8M$19.9M$17.4M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
Cash and equivalents $1.5M$206.0K$672.0K$127.0K$118.0K$121.0K$1.0K$3.1M
Receivables $57.6M$49.8M$57.4M$58.0M$55.4M$42.1M$40.2M$52.3M
Inventory $59.4M$54.8M$67.8M$71.7M$70.2M$41.4M$45.7M$53.4M
Total current assets $128.4M$112.9M$134.6M$141.3M$132.6M$89.2M$90.5M$112.8M
Property, plant and equipment $150.0M$156.5M$175.7M$145.8M$120.7M$106.7M$125.1M$123.9M
Goodwill $140.2M$92.7M$92.7M$71.5M$71.5M$71.5M$71.5M$69.4M
Other intangibles $111.3M$51.7M$58.7M$43.8M$50.8M$61.5M$72.2M$82.9M
Total assets $563.6M$445.6M$496.7M$440.6M$379.5M$338.5M$363.6M$391.7M
Accounts payable $52.4M$39.1M$46.5M$53.7M$50.1M$33.5M$32.2M$46.0M
Total current liabilities $74.8M$64.6M$71.7M$102.4M$77.4M$52.7M$48.2M$83.2M
Total liabilities $322.9M$193.8M$266.7M$222.7M$181.2M$137.7M$162.7M$288.7M
Retained earnings $52.0M$60.1M$34.1M$26.3M$7.5M$15.0M$22.1M
Total equity $240.7M$251.8M$230.0M$217.9M$198.3M$200.9M$200.9M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
Operating cash flow $38.6M$89.8M$40.4M$52.4M$14.5M$36.5M$33.4M$36.7M$30.8M
Depreciation and amortisation $31.6M$30.7M$27.3M$22.4M$21.1M$21.4M$22.3M$16.4M$17.0M
Stock-based compensation $3.3M$5.2M$4.5M$3.8M$5.0M$4.7M$3.5M
Capital expenditure $11.6M$12.1M$16.6M$58.6M$39.3M$7.8M$25.8M$17.9M$11.3M
Investing cash flow -$151.5M-$11.7M-$104.1M-$50.7M-$34.0M-$5.8M-$28.1M-$132.6M-$11.2M
Financing cash flow $114.3M-$78.6M$64.3M-$1.7M$19.5M-$30.6M-$8.4M$98.9M-$19.6M
Buybacks $4.6M$5.9M$2.7M$4.9M$2.2M$2.5M$2.6M$7.8M$8.7M

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-023496.

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