Mayville Engineering Company, Inc. (MEC)
Mayville Engineering Company, Inc., together with its subsidiaries, engages in the production, design, prototyping and tooling, fabrication, aluminum extrusion, coating, and assembling of aftermarket components in the United States. It supplies engineered components to original equipment manufacturers. The company serves heavy and medium duty commercial vehicles, construction and access equipment, powersports, data center and critical power, agriculture, military, and other end markets. Mayville Engineering Company, Inc. was founded in 1945 and is headquartered in Milwaukee, Wisconsin.
Sector: Metal Forgings & Stampings
Industry: Manufacturing - Metal Fabrication
Mayville Engineering Company, Inc.
NYSE:MECIndustrials · Manufacturing - Metal Fabrication
-1.78%$12.71
AH Close$12.71+0.00%vs close
AH Close$12.71+0.00%vs close
Mkt Cap$324.11M
Float18.67M
O/S25.5M
Inst Own82.9%
SI13.1%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$546.49M
Net Income-$8.11M
Total Assets$563.64M
Free Cash Flow$26.91M
Debt & Equity
Debt 10%
Equity 90%
Total Debt$25.57M
Total Equity$240.74M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in MEC's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$563.64M
Liabilities$322.9M
Accounts Receivable$57.55M
Accounts Payable$52.38M
Inventory$59.4M
PP&E (Net)$187.2M
Goodwill$140.25M
Intangible Assets$111.28M
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 |
| Revenue | $546.49M | $581.6M | $588.42M | $539.39M | $454.83M | $357.61M | $519.7M | $354.53M | $313.33M |
| YoY Growth | -6.0% | -1.2% | 9.1% | 18.6% | 27.2% | -31.2% | 46.6% | 13.1% | - |
| Cost of Revenue | $492.48M | $510.51M | $518.72M | $478.32M | $403.45M | $326.11M | $460.99M | $303.95M | $278.59M |
| Gross Profit | $54.01M | $71.1M | $69.7M | $61.07M | $51.38M | $31.5M | $58.72M | $50.58M | $34.74M |
| Gross Margin | 9.9% | 12.2% | 11.8% | 11.3% | 11.3% | 8.8% | 11.3% | 14.3% | 11.1% |
| Research and Development | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, General, and Administrative | $48.14M | $45.11M | $41.77M | $32.69M | $31.91M | $27.29M | $56.02M | $24.31M | $21.55M |
| Other | $9.72M | -$18.57M | $7.74M | $2.61M | $26.86M | $10.71M | $4.65M | $4.1M | $3.76M |
| Total Operating Expenses | $57.85M | $26.54M | $49.51M | $35.3M | $58.77M | $38M | $60.68M | $28.41M | $25.31M |
| Operating Income (EBIT) | -$3.84M | $44.55M | $20.19M | $25.77M | -$7.39M | -$6.5M | -$1.96M | $22.17M | $9.43M |
| Operating Margin | -0.7% | 7.7% | 3.4% | 4.8% | -1.6% | -1.8% | -0.4% | 6.3% | 3.0% |
| Interest Expense | $10.21M | $10.99M | $11.09M | $3.38M | $2M | $2.67M | $6.73M | $3.88M | $4.18M |
| Interest Income | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Income (Expense) | -$10.21M | -$10.99M | -$11.31M | -$3.38M | -$2M | -$2.67M | -$6.88M | -$4.69M | -$4.18M |
| Income Before Tax (EBT) | -$14.06M | $33.56M | $8.88M | $22.39M | -$9.39M | -$9.17M | -$8.84M | $17.48M | $5.25M |
| Income Tax Expense | -$5.95M | $7.6M | $1.04M | $3.67M | -$1.94M | -$2.07M | -$4.09M | -$459K | $0 |
| Net Income | -$8.11M | $25.97M | $7.84M | $18.73M | -$7.45M | -$7.09M | -$4.75M | $17.93M | $5.25M |
| Net Income Margin | -1.5% | 4.5% | 1.3% | 3.5% | -1.6% | -2.0% | -0.9% | 5.1% | 1.7% |
| Supplementary Data | |||||||||
| EPS | -0.40 | 1.26 | 0.38 | 0.92 | -0.37 | -0.36 | -0.27 | 0.91 | 0.27 |
| Diluted EPS | -0.40 | 1.24 | 0.38 | 0.92 | -0.37 | -0.36 | -0.27 | 0.91 | 0.27 |
| Weighted Average OS | 20.47M | 20.61M | 20.42M | 20.40M | 20.40M | 19.90M | 17.45M | 19.69M | 19.69M |
| EBITDA | $37.44M | $82.14M | $55.05M | $55.09M | $24.39M | $25.59M | $30.89M | $43.2M | $30.16M |
| EBITDA Margin | 6.9% | 14.1% | 9.4% | 10.2% | 5.4% | 7.2% | 5.9% | 12.2% | 9.6% |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 |
| Assets | |||||||||
| Current Assets | |||||||||
| Cash and Cash Equivalents | $1.5M | $206K | $672K | $127K | $118K | $121K | $1K | $3.09M | $76K |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $1.5M | $206K | $672K | $127K | $118K | $121K | $1K | $3.09M | $76K |
| Accounts Receivable | $57.55M | $49.78M | $57.45M | $58M | $55.42M | $42.08M | $40.19M | $52.3M | $26.39M |
| Inventory | $59.4M | $54.76M | $67.78M | $71.71M | $70.16M | $41.37M | $45.69M | $53.41M | $35.38M |
| Other Current Assets | $9.96M | $8.2M | $8.72M | $11.47M | $3.95M | $3.13M | $1.59M | $2.32M | $1.49M |
| Total Current Assets | $128.41M | $112.94M | $134.62M | $141.3M | $132.57M | $89.25M | $90.48M | $112.76M | $64.17M |
| Long-Term Assets | |||||||||
| Property, Plant & Equipment Net | $187.2M | $185.14M | $207.98M | $181.84M | $120.75M | $109.27M | $128.29M | $125.84M | $90.82M |
| Goodwill | $140.25M | $92.65M | $92.65M | $71.53M | $71.53M | $71.53M | $71.53M | $69.44M | $40.2M |
| Intangible Assets | $111.28M | $51.73M | $58.67M | $43.81M | $50.76M | $61.47M | $72.17M | $82.88M | $18.84M |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | -$3.5M | $3.1M | $2.74M | $2.09M | $3.87M | $7.01M | $1.11M | $814K | $280K |
| Total Long-Term Assets | $435.23M | $332.63M | $362.04M | $299.28M | $246.91M | $249.28M | $273.11M | $278.97M | $150.14M |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $563.64M | $445.57M | $496.66M | $440.58M | $379.47M | $338.53M | $363.58M | $391.73M | $214.32M |
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts Payable | $52.38M | $39.12M | $46.53M | $53.73M | $50.12M | $33.49M | $32.17M | $45.99M | $19.49M |
| Short-Term Debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $8.61M | $8.03M |
| Current Income Tax Payable | $0 | $0 | $0 | $0 | $0 | $0 | $5.75M | $7.55M | $5.25M |
| Current Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $13.67M | $8.62M |
| Other Current Liabilities | $22.39M | $15.46M | $13.75M | $36.57M | $18.57M | $8.43M | $9.67M | $0 | $0 |
| Total Current Liabilities | $74.77M | $64.59M | $71.71M | $102.45M | $77.37M | $52.74M | $48.19M | $83.16M | $41.88M |
| Long-Term Liabilities | |||||||||
| Long-Term Debt | $25.57M | $79.72M | $147.49M | $72.24M | $67.61M | $45.26M | $72.57M | $171.3M | $67.57M |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $13.35M | $0 |
| Long-Term Deferred Tax Liabilities | $11.3M | $16.83M | $12.61M | $11.82M | $8.64M | $11.89M | $14.19M | $19.12M | $0 |
| Other Long-Term Liabilities | $211.26M | $7.26M | $6.27M | $4.32M | $27.58M | $25.73M | $25.05M | $100K | $11.98M |
| Total Long-Term Liabilities | $248.13M | $129.22M | $194.97M | $120.27M | $103.83M | $84.94M | $114.5M | $205.57M | $79.55M |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $322.9M | $193.82M | $266.68M | $222.71M | $181.2M | $137.68M | $162.69M | $288.74M | $121.43M |
| Stockholders' Equity | |||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $133.81M | $125.04M |
| Retained Earnings | $51.98M | $60.09M | $34.12M | $26.27M | $7.55M | $15M | $22.09M | $26.84M | $17.67M |
| Comprehensive Income & Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | -$142.52M | -$126.53M |
| Other Stockholders' Equity | $188.76M | $191.67M | $195.86M | $191.59M | $190.72M | $185.86M | $178.81M | -$57.66M | -$49.83M |
| Total Equity | $240.74M | $251.75M | $229.98M | $217.87M | $198.27M | $200.86M | $200.9M | $102.99M | $92.89M |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $563.64M | $445.57M | $496.66M | $440.58M | $379.47M | $338.53M | $363.58M | $391.73M | $214.32M |
| Supplementary Data | |||||||||
| Total Debt | $25.57M | $110.05M | $181.16M | $108.98M | $67.61M | $47.94M | $75.86M | $181.89M | $75.6M |
| Net Debt | $24.07M | $109.84M | $180.49M | $108.86M | $67.49M | $47.82M | $75.86M | $178.8M | $75.52M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 |
| Operating Activities | |||||||||
| Net Income | -$8.11M | $25.97M | $7.84M | $18.73M | -$7.45M | -$7.09M | -$4.75M | $17.93M | $5.25M |
| Depreciation & Amortization | $41.29M | $37.59M | $35.08M | $29.31M | $31.78M | $32.09M | $33M | $20.47M | $20.73M |
| Deferred Income Tax | -$5.53M | $4.22M | $0 | $0 | $0 | $0 | $11.17M | $0 | $0 |
| Stock-Based Compensation | $3.28M | $5.19M | $4.49M | $3.76M | $4.96M | $4.73M | $3.49M | $5.65M | $5.13M |
| Changes in Working Capital: | |||||||||
| Accounts Receivable | $6.04M | $8.1M | $7.79M | -$2.5M | -$12.67M | -$2.66M | $11.85M | $1.04M | $2.57M |
| Inventory | $77K | $13.25M | $16M | -$1.63M | -$27.9M | $4.25M | $8.89M | -$6.87M | -$2.48M |
| Accounts Payable | $8.36M | -$7.99M | -$9.44M | $9.36M | $11.84M | $515K | -$11.01M | $834K | $2.08M |
| Other Working Capital | -$14.89M | $2.02M | -$9.11M | -$747K | $144K | $2.14M | -$13.56M | -$2.53M | $1.67M |
| Total Working Capital Change | -$411K | $15.37M | $5.24M | $4.49M | -$28.59M | $4.24M | -$3.83M | -$7.52M | $3.85M |
| Other Non-Cash Items | $8.05M | $1.47M | -$12.29M | -$3.86M | $13.75M | $2.56M | -$5.67M | $5.83M | $977K |
| Net Cash from Operating | $38.56M | $89.81M | $40.36M | $52.43M | $14.46M | $36.52M | $33.4M | $36.72M | $30.8M |
| Investing Activities | |||||||||
| Capital Expenditures | -$11.65M | -$12.1M | -$16.6M | -$58.61M | -$39.31M | -$7.79M | -$25.8M | -$17.88M | -$11.26M |
| Acquisitions | -$139.95M | $0 | -$88.59M | $0 | $0 | $0 | -$2.37M | -$114.7M | $24K |
| Purchases of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Sales of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Investing Activities | $72K | $386K | $1.06M | $7.94M | $5.35M | $2.02M | $76K | $10K | $24K |
| Net Cash from Investing | -$151.53M | -$11.71M | -$104.13M | -$50.67M | -$33.96M | -$5.77M | -$28.09M | -$132.57M | -$11.23M |
| Financing Activities | |||||||||
| Debt Repaid | -$121.27M | $69.18M | -$68.18M | -$3.2M | -$21.54M | $27.91M | $107.57M | -$108.87M | $10.51M |
| Common Stock Issuance | $0 | $0 | $0 | $0 | $0 | $0 | $101.76M | $0 | $0 |
| Common Stock Repurchases | -$4.61M | -$5.9M | -$2.66M | -$4.95M | -$2.15M | -$2.51M | -$2.59M | -$7.83M | -$8.71M |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | -$2.4M | -$3.48M | -$1.21M | $0 | $113K | -$207K | $101.76M | -$2.17M | -$412K |
| Net Cash from Financing | $114.26M | -$78.56M | $64.31M | -$1.75M | $19.5M | -$30.63M | -$8.4M | $98.87M | -$19.63M |
| Forex Effect | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | $1.3M | -$466K | $545K | $9K | -$3K | $120K | -$3.09M | $3.01M | -$67K |
| Supplementary Data | |||||||||
| Operating Cash Flow | $38.56M | $89.81M | $40.36M | $52.43M | $14.46M | $36.52M | $33.4M | $36.72M | $30.8M |
| Capital Expenditure | -$11.65M | -$12.1M | -$16.6M | -$58.61M | -$39.31M | -$7.79M | -$25.8M | -$17.88M | -$11.26M |
| Free Cash Flow | $26.91M | $77.71M | $23.77M | -$6.18M | -$24.85M | $28.73M | $7.61M | $18.84M | $19.54M |
| Cash at Beginning | $206K | $672K | $127K | $118K | $121K | $1K | $3.09M | $76K | $143K |
| Cash at End | $1.5M | $206K | $672K | $127K | $118K | $121K | $1K | $3.09M | $76K |