MEC
Mayville Engineering Company, Inc.
Next earnings Aug 3, 2026 · consensus $-0.08 EPS, $151M rev
Last earnings +2.7% on 2026-05-05
$37.00
▲ +4.85%$37.00▲ +131.54%
over 1Y
L $12.56EODHDH $37.00
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today+4.8%
1W+6.6%
1M+36.4%
3M+109.0%
YTD+95.3%
1Y+131.5%
Sell
Conviction
Horizon
Medium (3–12mo)
12-mo target
$•••
Street · 9 analysts
Buy
Cyclical metal-bender swung to a loss as revenue shrank 6%, leverage doubled, and tariffs/destocking still bite — 1.3x P/S isn't cheap enough.
MEC's FY2025 marks a clear inflection in the wrong direction. Revenue fell 6.0% to $546M, operating income flipped from positive to -$3.84M (-108.6%), and the company swung to a net loss of -$8.11M from +$26.0M in FY2024 — a -131.2% year-over-year collapse in profitability. Management's MD&A and Risk Factors are unusually candid about why: customer channel inventory destocking, inflationary pressure on wages/materials/logistics, and the 2025-2026 tariff regime that 'contributed to increased input costs, supply chain disruption, pricing volatility, and heightened economic uncertainty.' Critically, management explicitly states they 'expect material cost inflation and inflationary pressures on wages and benefits to continue in 2026' and 'may not be able to fully mitigate' them through pricing — i.e., the margin pressure is not behind them.
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $455M | $539M | $588M | $582M | $546M |
| Gross profit | — | — | — | — | — |
| Operating income | -$7.39M | $25.8M | $20.2M | $44.6M | -$3.84M |
| Net income | -$7.45M | $18.7M | $7.84M | $26.0M | -$8.11M |
| Diluted EPS | -$0.36 | $0.91 | $0.38 | $1.24 | -$0.40 |
| Net margin | -1.6% | 3.5% | 1.3% | 4.5% | -1.5% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value$750M
EV / EBITDA—
EV / Sales1.4
EV / FCF27.9
P / FCF27.9
PEG (trailing)—
Earnings yield-1.1%
FCF yield3.6%
Quality & risk
ROIC (est.)-1.3%
Free cash flow$26.9M
Total debt—
Net cash$1.50M
Altman Z-Score2.59 grey
Piotroski F-Score3/7
Capital returns
Buyback yield0.6%
Dividend yield (est.)—
Shareholder yield0.6%
Shares Δ YoY-0.5%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsRecent disclosure tone has skewed negative — read the flagged items.
- 8-K Material agreement2026-05-21
Entered new material agreement with Reg FD disclosure; details exhibited
- 10-Q Quarterly report2026-05-06
Q1 2026 10-Q filed; continued macro/tariff headwinds flagged
- 8-K Earnings results2026-05-05
Released Q1 2026 earnings results
- 8-K Shareholder vote2026-04-23
Reported annual meeting vote results (directors, auditor, say-on-pay)
- DEF 14A Proxy statement2026-03-10
DEF 14A proxy filed for 2026 annual meeting
- 10-K Annual report2026-03-04
FY2025 10-K: net loss $8M vs $26M profit, liabilities +67% on acquisition
- 8-K Earnings results2026-03-03
FY2025 results: revenue -6% to $546M, swung to $8.1M net loss
- 8-K Material agreement2026-02-26
Entered material agreement creating new direct financial obligation (debt)
- 10-Q Quarterly report2025-11-05
Q3 2025 10-Q: destocking, tariffs and inflation pressuring margins
Recent filings
all on EDGAR ↗11-KPeriod ending 2025-12-312026-06-18open ↗4Period ending 2026-06-112026-06-12open ↗144Filing2026-06-11open ↗4Period ending 2026-06-082026-06-10open ↗144Filing2026-06-08open ↗4/APeriod ending 2026-06-012026-06-03open ↗4Period ending 2026-06-012026-06-02open ↗144Filing2026-06-01open ↗SCHEDULE 13GFiling2026-05-28open ↗4Period ending 2026-05-262026-05-27open ↗4Period ending 2026-05-212026-05-26open ↗8-KPeriod ending 2026-05-192026-05-21open ↗
Frequently asked
- Is Mayville Engineering Company, Inc. (MEC) a buy?
- MEC currently carries a Sell rating with 3/5 conviction, derived from its latest SEC filings. Cyclical metal-bender swung to a loss as revenue shrank 6%, leverage doubled, and tariffs/destocking still bite — 1.3x P/S isn't cheap enough.
- What is Mayville Engineering Company, Inc.'s quality score?
- MEC scores 45.62745098039215/100 (grade D) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0001766368, latest 10-Q filed 2026-05-06) · EODHD · analysis by claude-code · as of 6/25/2026, 2:45:20 PM.
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