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Side-by-side financial comparison of 4D Molecular Therapeutics, Inc. (FDMT) 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 $85.1M, roughly 1.6× 4D Molecular Therapeutics, Inc.). 4D Molecular Therapeutics, Inc. runs the higher net margin — 22.8% vs -3.2%, a 26.0% gap on every dollar of revenue. On growth, 4D Molecular Therapeutics, Inc. posted the faster year-over-year revenue change (8508900.0% vs 10.7%). 4D Molecular Therapeutics, Inc. produced more free cash flow last quarter ($28.5M vs $10.2M). Over the past eight quarters, 4D Molecular Therapeutics, Inc.'s revenue compounded faster (5412.6% CAGR vs -8.8%).
4D Molecular Therapeutics is a clinical-stage biotechnology company specializing in the research and development of targeted adeno-associated virus (AAV) gene therapies. Its core product candidates address unmet medical needs in ophthalmology, cardiology, and pulmonary disease segments, serving global patient populations with rare and common hard-to-treat conditions.
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.
FDMT vs MEC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $85.1M | $134.3M |
| Net Profit | $19.4M | $-4.4M |
| Gross Margin | — | 6.8% |
| Operating Margin | 17.3% | -4.1% |
| Net Margin | 22.8% | -3.2% |
| Revenue YoY | 8508900.0% | 10.7% |
| Net Profit YoY | 139.1% | -127.3% |
| EPS (diluted) | $0.43 | $-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 | $85.1M | $134.3M | ||
| Q3 25 | $90.0K | $144.3M | ||
| Q2 25 | $15.0K | $132.3M | ||
| Q1 25 | $14.0K | $135.6M | ||
| Q4 24 | $1.0K | $121.3M | ||
| Q3 24 | $3.0K | $135.4M | ||
| Q2 24 | $5.0K | $163.6M | ||
| Q1 24 | $28.0K | $161.3M |
| Q4 25 | $19.4M | $-4.4M | ||
| Q3 25 | $-56.9M | $-2.7M | ||
| Q2 25 | $-54.7M | $-1.1M | ||
| Q1 25 | $-48.0M | $20.0K | ||
| Q4 24 | — | $16.0M | ||
| Q3 24 | $-43.8M | $3.0M | ||
| Q2 24 | $-35.0M | $3.8M | ||
| Q1 24 | $-32.4M | $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 | 17.3% | -4.1% | ||
| Q3 25 | -67983.3% | 0.0% | ||
| Q2 25 | -396373.3% | 0.1% | ||
| Q1 25 | -383007.1% | 1.2% | ||
| Q4 24 | — | 19.0% | ||
| Q3 24 | -1704400.0% | 4.2% | ||
| Q2 24 | -849120.0% | 5.0% | ||
| Q1 24 | -136200.0% | 4.7% |
| Q4 25 | 22.8% | -3.2% | ||
| Q3 25 | -63195.6% | -1.9% | ||
| Q2 25 | -364386.7% | -0.8% | ||
| Q1 25 | -342657.1% | 0.0% | ||
| Q4 24 | — | 13.2% | ||
| Q3 24 | -1461433.3% | 2.2% | ||
| Q2 24 | -699060.0% | 2.3% | ||
| Q1 24 | -115717.9% | 2.0% |
| Q4 25 | $0.43 | $-0.22 | ||
| Q3 25 | $-1.01 | $-0.13 | ||
| Q2 25 | $-0.98 | $-0.05 | ||
| Q1 25 | $-0.86 | $0.00 | ||
| Q4 24 | — | $0.76 | ||
| Q3 24 | $-0.79 | $0.14 | ||
| Q2 24 | $-0.63 | $0.18 | ||
| Q1 24 | $-0.66 | $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 | $402.7M | $1.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $505.7M | $240.7M |
| Total Assets | $566.7M | $563.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $402.7M | $1.5M | ||
| Q3 25 | $305.1M | $1.2M | ||
| Q2 25 | $293.2M | $206.0K | ||
| Q1 25 | $321.4M | $183.0K | ||
| Q4 24 | $424.9M | $206.0K | ||
| Q3 24 | $501.9M | $178.0K | ||
| Q2 24 | $541.9M | $314.0K | ||
| Q1 24 | $525.9M | $314.0K |
| Q4 25 | $505.7M | $240.7M | ||
| Q3 25 | $369.0M | $244.8M | ||
| Q2 25 | $420.9M | $246.8M | ||
| Q1 25 | $469.7M | $250.0M | ||
| Q4 24 | $510.6M | $251.8M | ||
| Q3 24 | $552.9M | $238.4M | ||
| Q2 24 | $588.3M | $238.1M | ||
| Q1 24 | $600.6M | $234.0M |
| Q4 25 | $566.7M | $563.6M | ||
| Q3 25 | $424.0M | $585.6M | ||
| Q2 25 | $473.6M | $433.7M | ||
| Q1 25 | $515.7M | $447.7M | ||
| Q4 24 | $560.4M | $445.6M | ||
| Q3 24 | $604.0M | $466.0M | ||
| Q2 24 | $620.1M | $488.2M | ||
| Q1 24 | $629.9M | $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 | $28.6M | $13.4M |
| Free Cash FlowOCF − Capex | $28.5M | $10.2M |
| FCF MarginFCF / Revenue | 33.5% | 7.6% |
| Capex IntensityCapex / Revenue | 0.1% | 2.4% |
| Cash ConversionOCF / Net Profit | 1.47× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-109.9M | $26.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $28.6M | $13.4M | ||
| Q3 25 | $-46.5M | $1.9M | ||
| Q2 25 | $-43.4M | $15.0M | ||
| Q1 25 | $-47.8M | $8.3M | ||
| Q4 24 | $-134.6M | $38.0M | ||
| Q3 24 | $-29.4M | $17.9M | ||
| Q2 24 | $-30.2M | $23.3M | ||
| Q1 24 | $-29.1M | $10.6M |
| Q4 25 | $28.5M | $10.2M | ||
| Q3 25 | $-46.6M | $-1.1M | ||
| Q2 25 | $-43.4M | $12.5M | ||
| Q1 25 | $-48.4M | $5.4M | ||
| Q4 24 | $-138.4M | $35.6M | ||
| Q3 24 | $-31.2M | $15.1M | ||
| Q2 24 | $-30.6M | $19.2M | ||
| Q1 24 | $-29.8M | $7.8M |
| Q4 25 | 33.5% | 7.6% | ||
| Q3 25 | -51765.6% | -0.8% | ||
| Q2 25 | -289620.0% | 9.5% | ||
| Q1 25 | -345635.7% | 4.0% | ||
| Q4 24 | -13837100.0% | 29.4% | ||
| Q3 24 | -1038966.7% | 11.1% | ||
| Q2 24 | -611840.0% | 11.7% | ||
| Q1 24 | -106421.4% | 4.9% |
| Q4 25 | 0.1% | 2.4% | ||
| Q3 25 | 101.1% | 2.1% | ||
| Q2 25 | 440.0% | 1.8% | ||
| Q1 25 | 4507.1% | 2.2% | ||
| Q4 24 | 378600.0% | 1.9% | ||
| Q3 24 | 59266.7% | 2.1% | ||
| Q2 24 | 6980.0% | 2.5% | ||
| Q1 24 | 2535.7% | 1.7% |
| Q4 25 | 1.47× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 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
FDMT
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% |
