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Side-by-side financial comparison of Armada Hoffler Properties, Inc. (AHH) 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 $75.6M, roughly 1.8× Armada Hoffler Properties, Inc.). Armada Hoffler Properties, Inc. runs the higher net margin — 3.1% vs -3.2%, a 6.4% gap on every dollar of revenue. On growth, Mayville Engineering Company, Inc. posted the faster year-over-year revenue change (10.7% vs 0.8%). Over the past eight quarters, Mayville Engineering Company, Inc.'s revenue compounded faster (-8.8% CAGR vs -22.8%).
Armada Hoffler Properties, Inc. is a publicly traded U.S. real estate investment trust operating across the Mid-Atlantic and Southeast regions. It develops, owns, and manages a diversified portfolio of office, retail, and multifamily residential properties, and also offers construction and development services for third-party clients.
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.
AHH vs MEC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $75.6M | $134.3M |
| Net Profit | $2.4M | $-4.4M |
| Gross Margin | — | 6.8% |
| Operating Margin | 31.0% | -4.1% |
| Net Margin | 3.1% | -3.2% |
| Revenue YoY | 0.8% | 10.7% |
| Net Profit YoY | -89.8% | -127.3% |
| EPS (diluted) | $0.00 | $-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 | $75.6M | $134.3M | ||
| Q3 25 | $72.7M | $144.3M | ||
| Q2 25 | $69.1M | $132.3M | ||
| Q1 25 | $67.8M | $135.6M | ||
| Q4 24 | $75.0M | $121.3M | ||
| Q3 24 | $114.4M | $135.4M | ||
| Q2 24 | $116.8M | $163.6M | ||
| Q1 24 | $127.0M | $161.3M |
| Q4 25 | $2.4M | $-4.4M | ||
| Q3 25 | $80.0K | $-2.7M | ||
| Q2 25 | $5.9M | $-1.1M | ||
| Q1 25 | $-2.8M | $20.0K | ||
| Q4 24 | $23.4M | $16.0M | ||
| Q3 24 | $-5.0M | $3.0M | ||
| Q2 24 | $3.2M | $3.8M | ||
| Q1 24 | $14.1M | $3.2M |
| Q4 25 | — | 6.8% | ||
| Q3 25 | — | 11.0% | ||
| Q2 25 | — | 10.3% | ||
| Q1 25 | — | 11.3% | ||
| Q4 24 | — | 8.9% | ||
| Q3 24 | 45.0% | 12.6% | ||
| Q2 24 | 41.8% | 13.6% | ||
| Q1 24 | 37.9% | 13.0% |
| Q4 25 | 31.0% | -4.1% | ||
| Q3 25 | 29.2% | 0.0% | ||
| Q2 25 | 29.6% | 0.1% | ||
| Q1 25 | 23.2% | 1.2% | ||
| Q4 24 | 50.1% | 19.0% | ||
| Q3 24 | 19.0% | 4.2% | ||
| Q2 24 | 11.9% | 5.0% | ||
| Q1 24 | 15.1% | 4.7% |
| Q4 25 | 3.1% | -3.2% | ||
| Q3 25 | 0.1% | -1.9% | ||
| Q2 25 | 8.6% | -0.8% | ||
| Q1 25 | -4.1% | 0.0% | ||
| Q4 24 | 31.2% | 13.2% | ||
| Q3 24 | -4.4% | 2.2% | ||
| Q2 24 | 2.7% | 2.3% | ||
| Q1 24 | 11.1% | 2.0% |
| Q4 25 | $0.00 | $-0.22 | ||
| Q3 25 | $-0.04 | $-0.13 | ||
| Q2 25 | $0.04 | $-0.05 | ||
| Q1 25 | $-0.07 | $0.00 | ||
| Q4 24 | $0.28 | $0.76 | ||
| Q3 24 | $-0.11 | $0.14 | ||
| Q2 24 | $0.00 | $0.18 | ||
| Q1 24 | $0.17 | $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 | $49.1M | $1.5M |
| Total DebtLower is stronger | $1.5B | — |
| Stockholders' EquityBook value | $627.8M | $240.7M |
| Total Assets | $2.6B | $563.6M |
| Debt / EquityLower = less leverage | 2.43× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $49.1M | $1.5M | ||
| Q3 25 | $46.5M | $1.2M | ||
| Q2 25 | $52.1M | $206.0K | ||
| Q1 25 | $45.7M | $183.0K | ||
| Q4 24 | $31.9M | $206.0K | ||
| Q3 24 | $43.9M | $178.0K | ||
| Q2 24 | $20.3M | $314.0K | ||
| Q1 24 | $41.9M | $314.0K |
| Q4 25 | $1.5B | — | ||
| Q3 25 | $1.5B | — | ||
| Q2 25 | $1.4B | — | ||
| Q1 25 | $1.3B | — | ||
| Q4 24 | $1.3B | — | ||
| Q3 24 | $1.3B | — | ||
| Q2 24 | $1.4B | — | ||
| Q1 24 | $1.4B | — |
| Q4 25 | $627.8M | $240.7M | ||
| Q3 25 | $638.8M | $244.8M | ||
| Q2 25 | $652.0M | $246.8M | ||
| Q1 25 | $657.4M | $250.0M | ||
| Q4 24 | $670.6M | $251.8M | ||
| Q3 24 | $663.9M | $238.4M | ||
| Q2 24 | $562.7M | $238.1M | ||
| Q1 24 | $571.4M | $234.0M |
| Q4 25 | $2.6B | $563.6M | ||
| Q3 25 | $2.6B | $585.6M | ||
| Q2 25 | $2.6B | $433.7M | ||
| Q1 25 | $2.5B | $447.7M | ||
| Q4 24 | $2.5B | $445.6M | ||
| Q3 24 | $2.6B | $466.0M | ||
| Q2 24 | $2.6B | $488.2M | ||
| Q1 24 | $2.6B | $499.9M |
| Q4 25 | 2.43× | — | ||
| Q3 25 | 2.33× | — | ||
| Q2 25 | 2.22× | — | ||
| Q1 25 | 2.01× | — | ||
| Q4 24 | 1.93× | — | ||
| Q3 24 | 2.00× | — | ||
| Q2 24 | 2.52× | — | ||
| Q1 24 | 2.50× | — |
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 | $64.2M | $13.4M |
| Free Cash FlowOCF − Capex | — | $10.2M |
| FCF MarginFCF / Revenue | — | 7.6% |
| Capex IntensityCapex / Revenue | — | 2.4% |
| Cash ConversionOCF / Net Profit | 26.99× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $26.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $64.2M | $13.4M | ||
| Q3 25 | $26.3M | $1.9M | ||
| Q2 25 | $11.1M | $15.0M | ||
| Q1 25 | $107.0K | $8.3M | ||
| Q4 24 | $112.0M | $38.0M | ||
| Q3 24 | $27.3M | $17.9M | ||
| Q2 24 | $17.4M | $23.3M | ||
| Q1 24 | $46.5M | $10.6M |
| Q4 25 | — | $10.2M | ||
| Q3 25 | — | $-1.1M | ||
| Q2 25 | — | $12.5M | ||
| Q1 25 | — | $5.4M | ||
| Q4 24 | — | $35.6M | ||
| Q3 24 | — | $15.1M | ||
| Q2 24 | — | $19.2M | ||
| Q1 24 | — | $7.8M |
| Q4 25 | — | 7.6% | ||
| Q3 25 | — | -0.8% | ||
| Q2 25 | — | 9.5% | ||
| Q1 25 | — | 4.0% | ||
| Q4 24 | — | 29.4% | ||
| Q3 24 | — | 11.1% | ||
| Q2 24 | — | 11.7% | ||
| Q1 24 | — | 4.9% |
| Q4 25 | — | 2.4% | ||
| Q3 25 | — | 2.1% | ||
| Q2 25 | — | 1.8% | ||
| Q1 25 | — | 2.2% | ||
| Q4 24 | — | 1.9% | ||
| Q3 24 | — | 2.1% | ||
| Q2 24 | — | 2.5% | ||
| Q1 24 | — | 1.7% |
| Q4 25 | 26.99× | — | ||
| Q3 25 | 328.63× | — | ||
| Q2 25 | 1.87× | — | ||
| Q1 25 | — | 416.65× | ||
| Q4 24 | 4.78× | 2.38× | ||
| Q3 24 | — | 6.03× | ||
| Q2 24 | 5.48× | 6.15× | ||
| Q1 24 | 3.30× | 3.28× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AHH
| Office Real Estate Segment | $28.8M | 38% |
| Retail Real Estate Segment | $25.4M | 34% |
| Multifamily Residential Real Estate | $17.7M | 23% |
| Real Estate Financing Segment | $3.6M | 5% |
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% |
