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Side-by-side financial comparison of Bitcoin Depot Inc. (BTM) and Mayville Engineering Company, Inc. (MEC). Click either name above to swap in a different company.
Bitcoin Depot Inc. is the larger business by last-quarter revenue ($162.5M vs $134.3M, roughly 1.2× Mayville Engineering Company, Inc.). Bitcoin Depot Inc. runs the higher net margin — 3.4% vs -3.2%, a 6.7% gap on every dollar of revenue. On growth, Bitcoin Depot Inc. posted the faster year-over-year revenue change (20.1% vs 10.7%). Mayville Engineering Company, Inc. produced more free cash flow last quarter ($10.2M vs $2.5M). Over the past eight quarters, Bitcoin Depot Inc.'s revenue compounded faster (-4.9% CAGR vs -8.8%).
Bitcoin Depot Inc. is one of the largest cryptocurrency ATM operators across North America. It provides retail consumers with accessible in-person kiosks to buy and sell Bitcoin and other leading digital assets, alongside online crypto purchase services via bank transfer. Its self-service kiosks are located in high-traffic retail spaces including grocery stores, gas stations and convenience stores.
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.
BTM vs MEC — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $162.5M | $134.3M |
| Net Profit | $5.5M | $-4.4M |
| Gross Margin | — | 6.8% |
| Operating Margin | 7.3% | -4.1% |
| Net Margin | 3.4% | -3.2% |
| Revenue YoY | 20.1% | 10.7% |
| Net Profit YoY | 690.4% | -127.3% |
| EPS (diluted) | $0.08 | $-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 | — | $134.3M | ||
| Q3 25 | $162.5M | $144.3M | ||
| Q2 25 | $172.1M | $132.3M | ||
| Q1 25 | $164.2M | $135.6M | ||
| Q4 24 | — | $121.3M | ||
| Q3 24 | $135.3M | $135.4M | ||
| Q2 24 | $163.1M | $163.6M | ||
| Q1 24 | $138.5M | $161.3M |
| Q4 25 | — | $-4.4M | ||
| Q3 25 | $5.5M | $-2.7M | ||
| Q2 25 | $6.1M | $-1.1M | ||
| Q1 25 | $4.2M | $20.0K | ||
| Q4 24 | — | $16.0M | ||
| Q3 24 | $-939.0K | $3.0M | ||
| Q2 24 | $-2.6M | $3.8M | ||
| Q1 24 | $-1.5M | $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 | — | -4.1% | ||
| Q3 25 | 7.3% | 0.0% | ||
| Q2 25 | 9.2% | 0.1% | ||
| Q1 25 | 10.8% | 1.2% | ||
| Q4 24 | — | 19.0% | ||
| Q3 24 | 4.1% | 4.2% | ||
| Q2 24 | 4.7% | 5.0% | ||
| Q1 24 | 0.5% | 4.7% |
| Q4 25 | — | -3.2% | ||
| Q3 25 | 3.4% | -1.9% | ||
| Q2 25 | 3.5% | -0.8% | ||
| Q1 25 | 2.6% | 0.0% | ||
| Q4 24 | — | 13.2% | ||
| Q3 24 | -0.7% | 2.2% | ||
| Q2 24 | -1.6% | 2.3% | ||
| Q1 24 | -1.1% | 2.0% |
| Q4 25 | — | $-0.22 | ||
| Q3 25 | $0.08 | $-0.13 | ||
| Q2 25 | $0.16 | $-0.05 | ||
| Q1 25 | $0.20 | $0.00 | ||
| Q4 24 | — | $0.76 | ||
| Q3 24 | $-0.05 | $0.14 | ||
| Q2 24 | $-0.13 | $0.18 | ||
| Q1 24 | $-0.25 | $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 | $59.3M | $1.5M |
| Total DebtLower is stronger | $67.5M | — |
| Stockholders' EquityBook value | $21.0M | $240.7M |
| Total Assets | $125.3M | $563.6M |
| Debt / EquityLower = less leverage | 3.21× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $1.5M | ||
| Q3 25 | $59.3M | $1.2M | ||
| Q2 25 | $48.0M | $206.0K | ||
| Q1 25 | $35.0M | $183.0K | ||
| Q4 24 | — | $206.0K | ||
| Q3 24 | $32.2M | $178.0K | ||
| Q2 24 | $43.9M | $314.0K | ||
| Q1 24 | $42.2M | $314.0K |
| Q4 25 | — | — | ||
| Q3 25 | $67.5M | — | ||
| Q2 25 | $66.5M | — | ||
| Q1 25 | $56.2M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $44.5M | — | ||
| Q2 24 | $41.2M | — | ||
| Q1 24 | $37.6M | — |
| Q4 25 | — | $240.7M | ||
| Q3 25 | $21.0M | $244.8M | ||
| Q2 25 | $4.7M | $246.8M | ||
| Q1 25 | $-4.6M | $250.0M | ||
| Q4 24 | — | $251.8M | ||
| Q3 24 | $-7.9M | $238.4M | ||
| Q2 24 | $4.4M | $238.1M | ||
| Q1 24 | $5.0M | $234.0M |
| Q4 25 | — | $563.6M | ||
| Q3 25 | $125.3M | $585.6M | ||
| Q2 25 | $109.1M | $433.7M | ||
| Q1 25 | $89.7M | $447.7M | ||
| Q4 24 | — | $445.6M | ||
| Q3 24 | $87.4M | $466.0M | ||
| Q2 24 | $97.5M | $488.2M | ||
| Q1 24 | $90.1M | $499.9M |
| Q4 25 | — | — | ||
| Q3 25 | 3.21× | — | ||
| Q2 25 | 14.18× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 9.27× | — | ||
| Q1 24 | 7.54× | — |
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 | $6.6M | $13.4M |
| Free Cash FlowOCF − Capex | $2.5M | $10.2M |
| FCF MarginFCF / Revenue | 1.6% | 7.6% |
| Capex IntensityCapex / Revenue | 2.5% | 2.4% |
| Cash ConversionOCF / Net Profit | 1.20× | — |
| TTM Free Cash FlowTrailing 4 quarters | $27.1M | $26.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $13.4M | ||
| Q3 25 | $6.6M | $1.9M | ||
| Q2 25 | $10.2M | $15.0M | ||
| Q1 25 | $16.3M | $8.3M | ||
| Q4 24 | — | $38.0M | ||
| Q3 24 | $5.8M | $17.9M | ||
| Q2 24 | $10.1M | $23.3M | ||
| Q1 24 | $1.3M | $10.6M |
| Q4 25 | — | $10.2M | ||
| Q3 25 | $2.5M | $-1.1M | ||
| Q2 25 | $9.8M | $12.5M | ||
| Q1 25 | $15.9M | $5.4M | ||
| Q4 24 | — | $35.6M | ||
| Q3 24 | $-1.0M | $15.1M | ||
| Q2 24 | $7.6M | $19.2M | ||
| Q1 24 | $789.0K | $7.8M |
| Q4 25 | — | 7.6% | ||
| Q3 25 | 1.6% | -0.8% | ||
| Q2 25 | 5.7% | 9.5% | ||
| Q1 25 | 9.7% | 4.0% | ||
| Q4 24 | — | 29.4% | ||
| Q3 24 | -0.8% | 11.1% | ||
| Q2 24 | 4.7% | 11.7% | ||
| Q1 24 | 0.6% | 4.9% |
| Q4 25 | — | 2.4% | ||
| Q3 25 | 2.5% | 2.1% | ||
| Q2 25 | 0.2% | 1.8% | ||
| Q1 25 | 0.2% | 2.2% | ||
| Q4 24 | — | 1.9% | ||
| Q3 24 | 5.0% | 2.1% | ||
| Q2 24 | 1.5% | 2.5% | ||
| Q1 24 | 0.4% | 1.7% |
| Q4 25 | — | — | ||
| Q3 25 | 1.20× | — | ||
| Q2 25 | 1.67× | — | ||
| Q1 25 | 3.88× | 416.65× | ||
| Q4 24 | — | 2.38× | ||
| Q3 24 | — | 6.03× | ||
| Q2 24 | — | 6.15× | ||
| Q1 24 | — | 3.28× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BTM
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% |
