vs
Side-by-side financial comparison of Apollo Commercial Real Estate Finance, Inc. (ARI) 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 $73.3M, roughly 1.8× Apollo Commercial Real Estate Finance, Inc.). Apollo Commercial Real Estate Finance, Inc. runs the higher net margin — 39.9% vs -3.2%, a 43.1% gap on every dollar of revenue. On growth, Mayville Engineering Company, Inc. posted the faster year-over-year revenue change (10.7% vs 4.0%). Over the past eight quarters, Apollo Commercial Real Estate Finance, Inc.'s revenue compounded faster (-4.6% CAGR vs -8.8%).
Apollo Commercial Real Estate Finance, Inc. is a real estate investment trust that originates, acquires and manages commercial real estate debt assets including mortgages, mezzanine loans and mortgage-backed securities, primarily operating in the U.S. market to deliver consistent risk-adjusted returns.
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.
ARI vs MEC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $73.3M | $134.3M |
| Net Profit | $29.2M | $-4.4M |
| Gross Margin | — | 6.8% |
| Operating Margin | 39.7% | -4.1% |
| Net Margin | 39.9% | -3.2% |
| Revenue YoY | 4.0% | 10.7% |
| Net Profit YoY | -28.2% | -127.3% |
| EPS (diluted) | $0.19 | $-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 | $73.3M | $134.3M | ||
| Q3 25 | $61.6M | $144.3M | ||
| Q2 25 | $70.9M | $132.3M | ||
| Q1 25 | $65.8M | $135.6M | ||
| Q4 24 | $70.5M | $121.3M | ||
| Q3 24 | $71.6M | $135.4M | ||
| Q2 24 | $81.1M | $163.6M | ||
| Q1 24 | $80.5M | $161.3M |
| Q4 25 | $29.2M | $-4.4M | ||
| Q3 25 | $50.8M | $-2.7M | ||
| Q2 25 | $20.7M | $-1.1M | ||
| Q1 25 | $26.0M | $20.0K | ||
| Q4 24 | $40.7M | $16.0M | ||
| Q3 24 | $-91.5M | $3.0M | ||
| Q2 24 | $35.8M | $3.8M | ||
| Q1 24 | $-104.5M | $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 | 39.7% | -4.1% | ||
| Q3 25 | 82.8% | 0.0% | ||
| Q2 25 | 29.4% | 0.1% | ||
| Q1 25 | 39.7% | 1.2% | ||
| Q4 24 | 57.9% | 19.0% | ||
| Q3 24 | -127.8% | 4.2% | ||
| Q2 24 | 44.2% | 5.0% | ||
| Q1 24 | -129.6% | 4.7% |
| Q4 25 | 39.9% | -3.2% | ||
| Q3 25 | 82.4% | -1.9% | ||
| Q2 25 | 29.3% | -0.8% | ||
| Q1 25 | 39.5% | 0.0% | ||
| Q4 24 | 57.7% | 13.2% | ||
| Q3 24 | -127.9% | 2.2% | ||
| Q2 24 | 44.1% | 2.3% | ||
| Q1 24 | -129.8% | 2.0% |
| Q4 25 | $0.19 | $-0.22 | ||
| Q3 25 | $0.34 | $-0.13 | ||
| Q2 25 | $0.12 | $-0.05 | ||
| Q1 25 | $0.16 | $0.00 | ||
| Q4 24 | $0.25 | $0.76 | ||
| Q3 24 | $-0.69 | $0.14 | ||
| Q2 24 | $0.23 | $0.18 | ||
| Q1 24 | $-0.76 | $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 | $139.8M | $1.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.9B | $240.7M |
| Total Assets | $9.9B | $563.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $139.8M | $1.5M | ||
| Q3 25 | $245.9M | $1.2M | ||
| Q2 25 | $177.6M | $206.0K | ||
| Q1 25 | $166.4M | $183.0K | ||
| Q4 24 | $317.4M | $206.0K | ||
| Q3 24 | $194.3M | $178.0K | ||
| Q2 24 | $174.7M | $314.0K | ||
| Q1 24 | $161.2M | $314.0K |
| Q4 25 | $1.9B | $240.7M | ||
| Q3 25 | $1.9B | $244.8M | ||
| Q2 25 | $1.8B | $246.8M | ||
| Q1 25 | $1.9B | $250.0M | ||
| Q4 24 | $1.9B | $251.8M | ||
| Q3 24 | $1.9B | $238.4M | ||
| Q2 24 | $2.0B | $238.1M | ||
| Q1 24 | $2.0B | $234.0M |
| Q4 25 | $9.9B | $563.6M | ||
| Q3 25 | $9.5B | $585.6M | ||
| Q2 25 | $9.8B | $433.7M | ||
| Q1 25 | $8.8B | $447.7M | ||
| Q4 24 | $8.4B | $445.6M | ||
| Q3 24 | $9.1B | $466.0M | ||
| Q2 24 | $9.3B | $488.2M | ||
| Q1 24 | $9.2B | $499.9M |
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 | $142.5M | $13.4M |
| Free Cash FlowOCF − Capex | — | $10.2M |
| FCF MarginFCF / Revenue | — | 7.6% |
| Capex IntensityCapex / Revenue | — | 2.4% |
| Cash ConversionOCF / Net Profit | 4.88× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $26.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $142.5M | $13.4M | ||
| Q3 25 | $31.7M | $1.9M | ||
| Q2 25 | $63.2M | $15.0M | ||
| Q1 25 | $39.3M | $8.3M | ||
| Q4 24 | $200.3M | $38.0M | ||
| Q3 24 | $47.2M | $17.9M | ||
| Q2 24 | $50.2M | $23.3M | ||
| Q1 24 | $52.8M | $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 | 4.88× | — | ||
| Q3 25 | 0.62× | — | ||
| Q2 25 | 3.05× | — | ||
| Q1 25 | 1.51× | 416.65× | ||
| Q4 24 | 4.93× | 2.38× | ||
| Q3 24 | — | 6.03× | ||
| Q2 24 | 1.40× | 6.15× | ||
| Q1 24 | — | 3.28× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ARI
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% |
