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Side-by-side financial comparison of CSW INDUSTRIALS, INC. (CSW) and Mayville Engineering Company, Inc. (MEC). Click either name above to swap in a different company.
CSW INDUSTRIALS, INC. is the larger business by last-quarter revenue ($233.0M vs $134.3M, roughly 1.7× Mayville Engineering Company, Inc.). CSW INDUSTRIALS, INC. runs the higher net margin — 4.4% vs -3.2%, a 7.6% gap on every dollar of revenue. On growth, CSW INDUSTRIALS, INC. posted the faster year-over-year revenue change (20.3% vs 10.7%). CSW INDUSTRIALS, INC. produced more free cash flow last quarter ($22.7M vs $10.2M). Over the past eight quarters, CSW INDUSTRIALS, INC.'s revenue compounded faster (5.1% CAGR vs -8.8%).
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.
CSW vs MEC — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $233.0M | $134.3M |
| Net Profit | $10.3M | $-4.4M |
| Gross Margin | 39.7% | 6.8% |
| Operating Margin | 7.4% | -4.1% |
| Net Margin | 4.4% | -3.2% |
| Revenue YoY | 20.3% | 10.7% |
| Net Profit YoY | -61.9% | -127.3% |
| EPS (diluted) | $0.62 | $-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 | $233.0M | $134.3M | ||
| Q3 25 | $277.0M | $144.3M | ||
| Q2 25 | $263.6M | $132.3M | ||
| Q1 25 | $230.5M | $135.6M | ||
| Q4 24 | $193.6M | $121.3M | ||
| Q3 24 | $227.9M | $135.4M | ||
| Q2 24 | $226.2M | $163.6M | ||
| Q1 24 | $210.9M | $161.3M |
| Q4 25 | $10.3M | $-4.4M | ||
| Q3 25 | $40.7M | $-2.7M | ||
| Q2 25 | $40.9M | $-1.1M | ||
| Q1 25 | $35.1M | $20.0K | ||
| Q4 24 | $26.9M | $16.0M | ||
| Q3 24 | $36.1M | $3.0M | ||
| Q2 24 | $38.6M | $3.8M | ||
| Q1 24 | $31.8M | $3.2M |
| Q4 25 | 39.7% | 6.8% | ||
| Q3 25 | 43.0% | 11.0% | ||
| Q2 25 | 43.8% | 10.3% | ||
| Q1 25 | 44.2% | 11.3% | ||
| Q4 24 | 41.4% | 8.9% | ||
| Q3 24 | 45.6% | 12.6% | ||
| Q2 24 | 47.5% | 13.6% | ||
| Q1 24 | 44.4% | 13.0% |
| Q4 25 | 7.4% | -4.1% | ||
| Q3 25 | 20.5% | 0.0% | ||
| Q2 25 | 20.8% | 0.1% | ||
| Q1 25 | 19.5% | 1.2% | ||
| Q4 24 | 15.3% | 19.0% | ||
| Q3 24 | 22.6% | 4.2% | ||
| Q2 24 | 24.3% | 5.0% | ||
| Q1 24 | 21.0% | 4.7% |
| Q4 25 | 4.4% | -3.2% | ||
| Q3 25 | 14.7% | -1.9% | ||
| Q2 25 | 15.5% | -0.8% | ||
| Q1 25 | 15.2% | 0.0% | ||
| Q4 24 | 13.9% | 13.2% | ||
| Q3 24 | 15.8% | 2.2% | ||
| Q2 24 | 17.1% | 2.3% | ||
| Q1 24 | 15.1% | 2.0% |
| Q4 25 | $0.62 | $-0.22 | ||
| Q3 25 | $2.41 | $-0.13 | ||
| Q2 25 | $2.43 | $-0.05 | ||
| Q1 25 | $2.05 | $0.00 | ||
| Q4 24 | $1.60 | $0.76 | ||
| Q3 24 | $2.26 | $0.14 | ||
| Q2 24 | $2.47 | $0.18 | ||
| Q1 24 | $2.03 | $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 | $40.2M | $1.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.1B | $240.7M |
| Total Assets | $2.3B | $563.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $40.2M | $1.5M | ||
| Q3 25 | $31.5M | $1.2M | ||
| Q2 25 | $38.0M | $206.0K | ||
| Q1 25 | $225.8M | $183.0K | ||
| Q4 24 | $213.8M | $206.0K | ||
| Q3 24 | $273.2M | $178.0K | ||
| Q2 24 | $18.9M | $314.0K | ||
| Q1 24 | $22.2M | $314.0K |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $800.1M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $166.0M | — |
| Q4 25 | $1.1B | $240.7M | ||
| Q3 25 | $1.1B | $244.8M | ||
| Q2 25 | $1.1B | $246.8M | ||
| Q1 25 | $1.1B | $250.0M | ||
| Q4 24 | $1.0B | $251.8M | ||
| Q3 24 | $1.0B | $238.4M | ||
| Q2 24 | $650.2M | $238.1M | ||
| Q1 24 | $615.7M | $234.0M |
| Q4 25 | $2.3B | $563.6M | ||
| Q3 25 | $1.5B | $585.6M | ||
| Q2 25 | $1.5B | $433.7M | ||
| Q1 25 | $1.4B | $447.7M | ||
| Q4 24 | $1.4B | $445.6M | ||
| Q3 24 | $1.4B | $466.0M | ||
| Q2 24 | $1.1B | $488.2M | ||
| Q1 24 | $1.0B | $499.9M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.75× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 0.27× | — |
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 | $28.9M | $13.4M |
| Free Cash FlowOCF − Capex | $22.7M | $10.2M |
| FCF MarginFCF / Revenue | 9.8% | 7.6% |
| Capex IntensityCapex / Revenue | 2.6% | 2.4% |
| Cash ConversionOCF / Net Profit | 2.81× | — |
| TTM Free Cash FlowTrailing 4 quarters | $162.0M | $26.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $28.9M | $13.4M | ||
| Q3 25 | $61.8M | $1.9M | ||
| Q2 25 | $60.6M | $15.0M | ||
| Q1 25 | $27.3M | $8.3M | ||
| Q4 24 | $11.6M | $38.0M | ||
| Q3 24 | $66.8M | $17.9M | ||
| Q2 24 | $62.7M | $23.3M | ||
| Q1 24 | $22.4M | $10.6M |
| Q4 25 | $22.7M | $10.2M | ||
| Q3 25 | $58.7M | $-1.1M | ||
| Q2 25 | $57.7M | $12.5M | ||
| Q1 25 | $22.8M | $5.4M | ||
| Q4 24 | $8.5M | $35.6M | ||
| Q3 24 | $61.3M | $15.1M | ||
| Q2 24 | $59.6M | $19.2M | ||
| Q1 24 | $17.5M | $7.8M |
| Q4 25 | 9.8% | 7.6% | ||
| Q3 25 | 21.2% | -0.8% | ||
| Q2 25 | 21.9% | 9.5% | ||
| Q1 25 | 9.9% | 4.0% | ||
| Q4 24 | 4.4% | 29.4% | ||
| Q3 24 | 26.9% | 11.1% | ||
| Q2 24 | 26.3% | 11.7% | ||
| Q1 24 | 8.3% | 4.9% |
| Q4 25 | 2.6% | 2.4% | ||
| Q3 25 | 1.1% | 2.1% | ||
| Q2 25 | 1.1% | 1.8% | ||
| Q1 25 | 2.0% | 2.2% | ||
| Q4 24 | 1.6% | 1.9% | ||
| Q3 24 | 2.4% | 2.1% | ||
| Q2 24 | 1.4% | 2.5% | ||
| Q1 24 | 2.3% | 1.7% |
| Q4 25 | 2.81× | — | ||
| Q3 25 | 1.52× | — | ||
| Q2 25 | 1.48× | — | ||
| Q1 25 | 0.78× | 416.65× | ||
| Q4 24 | 0.43× | 2.38× | ||
| Q3 24 | 1.85× | 6.03× | ||
| Q2 24 | 1.62× | 6.15× | ||
| Q1 24 | 0.71× | 3.28× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CSW
| Contractor Solutions Segment | $166.3M | 71% |
| Specialized Reliability Solutions Segment | $38.2M | 16% |
| Engineered Building Solutions Segment | $28.5M | 12% |
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% |
