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Side-by-side financial comparison of FEDERAL AGRICULTURAL MORTGAGE CORP (AGM) and Mayville Engineering Company, Inc. (MEC). Click either name above to swap in a different company.
Mayville Engineering Company, Inc. is the larger business by last-quarter revenue ($134.3M vs $107.5M, roughly 1.2× FEDERAL AGRICULTURAL MORTGAGE CORP). On growth, Mayville Engineering Company, Inc. posted the faster year-over-year revenue change (10.7% vs 6.1%). Over the past eight quarters, FEDERAL AGRICULTURAL MORTGAGE CORP's revenue compounded faster (7.1% CAGR vs -8.8%).
The Federal Agricultural Mortgage Corporation, also known as Farmer Mac, is a stockholder-owned, federally chartered corporation established by the U.S. Congress in 1988 under the Agricultural Credit Act of 1987. It was created to establish a secondary market for agricultural real estate and housing mortgage loans, to increase liquidity and the availability of long-term, stable credit for farmers, ranchers, and rural communities.
Mayville Engineering Company, Inc. is a U.S.-headquartered leading manufacturer of metal components, fabricated assemblies, and custom engineered solutions. It serves OEM clients across agriculture, construction, transportation, defense, and power sports markets, offering end-to-end services from prototyping to high-volume production for North America.
AGM vs MEC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $107.5M | $134.3M |
| Net Profit | — | $-4.4M |
| Gross Margin | — | 6.8% |
| Operating Margin | 56.3% | -4.1% |
| Net Margin | — | -3.2% |
| Revenue YoY | 6.1% | 10.7% |
| Net Profit YoY | — | -127.3% |
| EPS (diluted) | $3.69 | $-0.22 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $107.5M | $134.3M | ||
| Q3 25 | $104.0M | $144.3M | ||
| Q2 25 | $102.6M | $132.3M | ||
| Q1 25 | $94.3M | $135.6M | ||
| Q4 24 | $101.3M | $121.3M | ||
| Q3 24 | $90.3M | $135.4M | ||
| Q2 24 | $89.9M | $163.6M | ||
| Q1 24 | $93.7M | $161.3M |
| Q4 25 | — | $-4.4M | ||
| Q3 25 | $55.0M | $-2.7M | ||
| Q2 25 | $54.8M | $-1.1M | ||
| Q1 25 | $49.7M | $20.0K | ||
| Q4 24 | $56.5M | $16.0M | ||
| Q3 24 | $49.8M | $3.0M | ||
| Q2 24 | $47.1M | $3.8M | ||
| Q1 24 | $53.7M | $3.2M |
| Q4 25 | — | 6.8% | ||
| Q3 25 | — | 11.0% | ||
| Q2 25 | — | 10.3% | ||
| Q1 25 | — | 11.3% | ||
| Q4 24 | — | 8.9% | ||
| Q3 24 | — | 12.6% | ||
| Q2 24 | — | 13.6% | ||
| Q1 24 | — | 13.0% |
| Q4 25 | 56.3% | -4.1% | ||
| Q3 25 | 64.1% | 0.0% | ||
| Q2 25 | 63.8% | 0.1% | ||
| Q1 25 | 66.9% | 1.2% | ||
| Q4 24 | 67.5% | 19.0% | ||
| Q3 24 | 69.0% | 4.2% | ||
| Q2 24 | 65.9% | 5.0% | ||
| Q1 24 | 72.8% | 4.7% |
| Q4 25 | — | -3.2% | ||
| Q3 25 | 52.9% | -1.9% | ||
| Q2 25 | 53.4% | -0.8% | ||
| Q1 25 | 52.6% | 0.0% | ||
| Q4 24 | 55.8% | 13.2% | ||
| Q3 24 | 55.2% | 2.2% | ||
| Q2 24 | 52.4% | 2.3% | ||
| Q1 24 | 57.4% | 2.0% |
| Q4 25 | $3.69 | $-0.22 | ||
| Q3 25 | $4.44 | $-0.13 | ||
| Q2 25 | $4.48 | $-0.05 | ||
| Q1 25 | $4.01 | $0.00 | ||
| Q4 24 | $4.62 | $0.76 | ||
| Q3 24 | $3.86 | $0.14 | ||
| Q2 24 | $3.68 | $0.18 | ||
| Q1 24 | $4.28 | $0.16 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $1.5M |
| Total DebtLower is stronger | $30.8B | — |
| Stockholders' EquityBook value | $1.7B | $240.7M |
| Total Assets | $35.4B | $563.6M |
| Debt / EquityLower = less leverage | 17.93× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $1.5M | ||
| Q3 25 | — | $1.2M | ||
| Q2 25 | — | $206.0K | ||
| Q1 25 | — | $183.0K | ||
| Q4 24 | — | $206.0K | ||
| Q3 24 | $842.1M | $178.0K | ||
| Q2 24 | $923.0M | $314.0K | ||
| Q1 24 | $745.1M | $314.0K |
| Q4 25 | $30.8B | — | ||
| Q3 25 | $29.2B | — | ||
| Q2 25 | $28.9B | — | ||
| Q1 25 | $28.0B | — | ||
| Q4 24 | $27.5B | — | ||
| Q3 24 | $27.2B | — | ||
| Q2 24 | $26.8B | — | ||
| Q1 24 | $26.8B | — |
| Q4 25 | $1.7B | $240.7M | ||
| Q3 25 | $1.7B | $244.8M | ||
| Q2 25 | $1.5B | $246.8M | ||
| Q1 25 | $1.5B | $250.0M | ||
| Q4 24 | $1.5B | $251.8M | ||
| Q3 24 | $1.5B | $238.4M | ||
| Q2 24 | $1.5B | $238.1M | ||
| Q1 24 | $1.5B | $234.0M |
| Q4 25 | $35.4B | $563.6M | ||
| Q3 25 | $33.4B | $585.6M | ||
| Q2 25 | $33.0B | $433.7M | ||
| Q1 25 | $31.8B | $447.7M | ||
| Q4 24 | $31.3B | $445.6M | ||
| Q3 24 | $30.6B | $466.0M | ||
| Q2 24 | $30.2B | $488.2M | ||
| Q1 24 | $29.8B | $499.9M |
| Q4 25 | 17.93× | — | ||
| Q3 25 | 17.31× | — | ||
| Q2 25 | 18.70× | — | ||
| Q1 25 | 18.39× | — | ||
| Q4 24 | 18.48× | — | ||
| Q3 24 | 18.60× | — | ||
| Q2 24 | 17.87× | — | ||
| Q1 24 | 18.11× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $80.1M | $13.4M |
| Free Cash FlowOCF − Capex | — | $10.2M |
| FCF MarginFCF / Revenue | — | 7.6% |
| Capex IntensityCapex / Revenue | 0.0% | 2.4% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $26.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $80.1M | $13.4M | ||
| Q3 25 | $74.2M | $1.9M | ||
| Q2 25 | $-47.7M | $15.0M | ||
| Q1 25 | $-49.8M | $8.3M | ||
| Q4 24 | $612.6M | $38.0M | ||
| Q3 24 | $-44.4M | $17.9M | ||
| Q2 24 | $56.1M | $23.3M | ||
| Q1 24 | $233.3M | $10.6M |
| Q4 25 | — | $10.2M | ||
| Q3 25 | — | $-1.1M | ||
| Q2 25 | — | $12.5M | ||
| Q1 25 | — | $5.4M | ||
| Q4 24 | $607.4M | $35.6M | ||
| Q3 24 | $-44.4M | $15.1M | ||
| Q2 24 | $52.6M | $19.2M | ||
| Q1 24 | $231.7M | $7.8M |
| Q4 25 | — | 7.6% | ||
| Q3 25 | — | -0.8% | ||
| Q2 25 | — | 9.5% | ||
| Q1 25 | — | 4.0% | ||
| Q4 24 | 599.8% | 29.4% | ||
| Q3 24 | -49.2% | 11.1% | ||
| Q2 24 | 58.5% | 11.7% | ||
| Q1 24 | 247.3% | 4.9% |
| Q4 25 | 0.0% | 2.4% | ||
| Q3 25 | 0.0% | 2.1% | ||
| Q2 25 | 0.0% | 1.8% | ||
| Q1 25 | 0.0% | 2.2% | ||
| Q4 24 | 5.2% | 1.9% | ||
| Q3 24 | 0.1% | 2.1% | ||
| Q2 24 | 4.0% | 2.5% | ||
| Q1 24 | 1.7% | 1.7% |
| Q4 25 | — | — | ||
| Q3 25 | 1.35× | — | ||
| Q2 25 | -0.87× | — | ||
| Q1 25 | -1.00× | 416.65× | ||
| Q4 24 | 10.84× | 2.38× | ||
| Q3 24 | -0.89× | 6.03× | ||
| Q2 24 | 1.19× | 6.15× | ||
| Q1 24 | 4.34× | 3.28× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AGM
Segment breakdown not available.
MEC
| Fabrication | $72.2M | 54% |
| Construction And Access | $19.2M | 14% |
| Tubes | $16.2M | 12% |
| Other Market | $11.9M | 9% |
| Agriculture | $7.7M | 6% |
| Military | $6.7M | 5% |
| Outdoor Sports | $1.7M | 1% |
