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Side-by-side financial comparison of Fastly, Inc. (FSLY) and Mayville Engineering Company, Inc. (MEC). Click either name above to swap in a different company.
Fastly, Inc. is the larger business by last-quarter revenue ($172.6M vs $134.3M, roughly 1.3× Mayville Engineering Company, Inc.). Mayville Engineering Company, Inc. runs the higher net margin — -3.2% vs -9.0%, a 5.7% gap on every dollar of revenue. On growth, Fastly, Inc. posted the faster year-over-year revenue change (22.8% vs 10.7%). Fastly, Inc. produced more free cash flow last quarter ($12.2M vs $10.2M). Over the past eight quarters, Fastly, Inc.'s revenue compounded faster (13.7% CAGR vs -8.8%).
Fastly, Inc. is an American company based in San Francisco, which describes itself as a cloud computing company. Fastly provides content delivery network services, image optimization, and load balancing services. Fastly's cloud security services include denial-of-service attack protection, bot mitigation, and a web application firewall.
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.
FSLY vs MEC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $172.6M | $134.3M |
| Net Profit | $-15.5M | $-4.4M |
| Gross Margin | 61.4% | 6.8% |
| Operating Margin | -8.7% | -4.1% |
| Net Margin | -9.0% | -3.2% |
| Revenue YoY | 22.8% | 10.7% |
| Net Profit YoY | 52.9% | -127.3% |
| EPS (diluted) | $-0.10 | $-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 | $172.6M | $134.3M | ||
| Q3 25 | $158.2M | $144.3M | ||
| Q2 25 | $148.7M | $132.3M | ||
| Q1 25 | $144.5M | $135.6M | ||
| Q4 24 | $140.6M | $121.3M | ||
| Q3 24 | $137.2M | $135.4M | ||
| Q2 24 | $132.4M | $163.6M | ||
| Q1 24 | $133.5M | $161.3M |
| Q4 25 | $-15.5M | $-4.4M | ||
| Q3 25 | $-29.5M | $-2.7M | ||
| Q2 25 | $-37.5M | $-1.1M | ||
| Q1 25 | $-39.1M | $20.0K | ||
| Q4 24 | $-32.9M | $16.0M | ||
| Q3 24 | $-38.0M | $3.0M | ||
| Q2 24 | $-43.7M | $3.8M | ||
| Q1 24 | $-43.4M | $3.2M |
| Q4 25 | 61.4% | 6.8% | ||
| Q3 25 | 58.4% | 11.0% | ||
| Q2 25 | 54.5% | 10.3% | ||
| Q1 25 | 53.2% | 11.3% | ||
| Q4 24 | 53.4% | 8.9% | ||
| Q3 24 | 54.5% | 12.6% | ||
| Q2 24 | 55.1% | 13.6% | ||
| Q1 24 | 54.8% | 13.0% |
| Q4 25 | -8.7% | -4.1% | ||
| Q3 25 | -18.2% | 0.0% | ||
| Q2 25 | -24.8% | 0.1% | ||
| Q1 25 | -26.4% | 1.2% | ||
| Q4 24 | -24.4% | 19.0% | ||
| Q3 24 | -29.6% | 4.2% | ||
| Q2 24 | -35.3% | 5.0% | ||
| Q1 24 | -34.6% | 4.7% |
| Q4 25 | -9.0% | -3.2% | ||
| Q3 25 | -18.6% | -1.9% | ||
| Q2 25 | -25.2% | -0.8% | ||
| Q1 25 | -27.1% | 0.0% | ||
| Q4 24 | -23.4% | 13.2% | ||
| Q3 24 | -27.7% | 2.2% | ||
| Q2 24 | -33.0% | 2.3% | ||
| Q1 24 | -32.5% | 2.0% |
| Q4 25 | $-0.10 | $-0.22 | ||
| Q3 25 | $-0.20 | $-0.13 | ||
| Q2 25 | $-0.26 | $-0.05 | ||
| Q1 25 | $-0.27 | $0.00 | ||
| Q4 24 | $-0.23 | $0.76 | ||
| Q3 24 | $-0.27 | $0.14 | ||
| Q2 24 | $-0.32 | $0.18 | ||
| Q1 24 | $-0.32 | $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 | $361.8M | $1.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $929.6M | $240.7M |
| Total Assets | $1.5B | $563.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $361.8M | $1.5M | ||
| Q3 25 | $342.9M | $1.2M | ||
| Q2 25 | $321.2M | $206.0K | ||
| Q1 25 | $307.3M | $183.0K | ||
| Q4 24 | $295.9M | $206.0K | ||
| Q3 24 | $308.2M | $178.0K | ||
| Q2 24 | $311.8M | $314.0K | ||
| Q1 24 | $329.5M | $314.0K |
| Q4 25 | $929.6M | $240.7M | ||
| Q3 25 | $937.0M | $244.8M | ||
| Q2 25 | $942.6M | $246.8M | ||
| Q1 25 | $957.0M | $250.0M | ||
| Q4 24 | $965.3M | $251.8M | ||
| Q3 24 | $969.5M | $238.4M | ||
| Q2 24 | $981.2M | $238.1M | ||
| Q1 24 | $991.8M | $234.0M |
| Q4 25 | $1.5B | $563.6M | ||
| Q3 25 | $1.5B | $585.6M | ||
| Q2 25 | $1.5B | $433.7M | ||
| Q1 25 | $1.4B | $447.7M | ||
| Q4 24 | $1.5B | $445.6M | ||
| Q3 24 | $1.5B | $466.0M | ||
| Q2 24 | $1.5B | $488.2M | ||
| Q1 24 | $1.5B | $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 | $22.4M | $13.4M |
| Free Cash FlowOCF − Capex | $12.2M | $10.2M |
| FCF MarginFCF / Revenue | 7.1% | 7.6% |
| Capex IntensityCapex / Revenue | 5.9% | 2.4% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $65.8M | $26.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $22.4M | $13.4M | ||
| Q3 25 | $28.9M | $1.9M | ||
| Q2 25 | $25.8M | $15.0M | ||
| Q1 25 | $17.3M | $8.3M | ||
| Q4 24 | $5.2M | $38.0M | ||
| Q3 24 | $5.0M | $17.9M | ||
| Q2 24 | $-4.9M | $23.3M | ||
| Q1 24 | $11.1M | $10.6M |
| Q4 25 | $12.2M | $10.2M | ||
| Q3 25 | $22.9M | $-1.1M | ||
| Q2 25 | $15.9M | $12.5M | ||
| Q1 25 | $14.7M | $5.4M | ||
| Q4 24 | $251.0K | $35.6M | ||
| Q3 24 | $3.0M | $15.1M | ||
| Q2 24 | $-6.7M | $19.2M | ||
| Q1 24 | $9.5M | $7.8M |
| Q4 25 | 7.1% | 7.6% | ||
| Q3 25 | 14.5% | -0.8% | ||
| Q2 25 | 10.7% | 9.5% | ||
| Q1 25 | 10.2% | 4.0% | ||
| Q4 24 | 0.2% | 29.4% | ||
| Q3 24 | 2.2% | 11.1% | ||
| Q2 24 | -5.1% | 11.7% | ||
| Q1 24 | 7.1% | 4.9% |
| Q4 25 | 5.9% | 2.4% | ||
| Q3 25 | 3.8% | 2.1% | ||
| Q2 25 | 6.6% | 1.8% | ||
| Q1 25 | 1.8% | 2.2% | ||
| Q4 24 | 3.5% | 1.9% | ||
| Q3 24 | 1.5% | 2.1% | ||
| Q2 24 | 1.3% | 2.5% | ||
| Q1 24 | 1.2% | 1.7% |
| Q4 25 | — | — | ||
| 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
FSLY
| Network Services | $130.8M | 76% |
| Security | $35.4M | 21% |
| Other | $6.4M | 4% |
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% |
