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Side-by-side financial comparison of GRID DYNAMICS HOLDINGS, INC. (GDYN) 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 $106.2M, roughly 1.3× GRID DYNAMICS HOLDINGS, INC.). GRID DYNAMICS HOLDINGS, INC. runs the higher net margin — 0.3% vs -3.2%, a 3.5% gap on every dollar of revenue. On growth, Mayville Engineering Company, Inc. posted the faster year-over-year revenue change (10.7% vs 5.9%). Mayville Engineering Company, Inc. produced more free cash flow last quarter ($10.2M vs $6.1M). Over the past eight quarters, GRID DYNAMICS HOLDINGS, INC.'s revenue compounded faster (15.3% CAGR vs -8.8%).
Escape Dynamics, Inc. was a Colorado-based technology company that operated 2010–2015 focused on bringing to market single-stage-to-orbit reusable electromagnetically powered spaceplanes.
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.
GDYN vs MEC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $106.2M | $134.3M |
| Net Profit | $306.0K | $-4.4M |
| Gross Margin | 34.0% | 6.8% |
| Operating Margin | 0.5% | -4.1% |
| Net Margin | 0.3% | -3.2% |
| Revenue YoY | 5.9% | 10.7% |
| Net Profit YoY | -93.2% | -127.3% |
| EPS (diluted) | $0.01 | $-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 | $106.2M | $134.3M | ||
| Q3 25 | $104.2M | $144.3M | ||
| Q2 25 | $101.1M | $132.3M | ||
| Q1 25 | $100.4M | $135.6M | ||
| Q4 24 | $100.3M | $121.3M | ||
| Q3 24 | $87.4M | $135.4M | ||
| Q2 24 | $83.0M | $163.6M | ||
| Q1 24 | $79.8M | $161.3M |
| Q4 25 | $306.0K | $-4.4M | ||
| Q3 25 | $1.2M | $-2.7M | ||
| Q2 25 | $5.3M | $-1.1M | ||
| Q1 25 | $2.9M | $20.0K | ||
| Q4 24 | $4.5M | $16.0M | ||
| Q3 24 | $4.3M | $3.0M | ||
| Q2 24 | $-817.0K | $3.8M | ||
| Q1 24 | $-3.9M | $3.2M |
| Q4 25 | 34.0% | 6.8% | ||
| Q3 25 | 33.3% | 11.0% | ||
| Q2 25 | 34.1% | 10.3% | ||
| Q1 25 | 36.8% | 11.3% | ||
| Q4 24 | 36.9% | 8.9% | ||
| Q3 24 | 37.4% | 12.6% | ||
| Q2 24 | 35.6% | 13.6% | ||
| Q1 24 | 34.7% | 13.0% |
| Q4 25 | 0.5% | -4.1% | ||
| Q3 25 | -0.2% | 0.0% | ||
| Q2 25 | -0.1% | 0.1% | ||
| Q1 25 | -2.0% | 1.2% | ||
| Q4 24 | 1.3% | 19.0% | ||
| Q3 24 | 2.4% | 4.2% | ||
| Q2 24 | 0.0% | 5.0% | ||
| Q1 24 | -6.9% | 4.7% |
| Q4 25 | 0.3% | -3.2% | ||
| Q3 25 | 1.1% | -1.9% | ||
| Q2 25 | 5.2% | -0.8% | ||
| Q1 25 | 2.9% | 0.0% | ||
| Q4 24 | 4.5% | 13.2% | ||
| Q3 24 | 4.9% | 2.2% | ||
| Q2 24 | -1.0% | 2.3% | ||
| Q1 24 | -4.9% | 2.0% |
| Q4 25 | $0.01 | $-0.22 | ||
| Q3 25 | $0.01 | $-0.13 | ||
| Q2 25 | $0.06 | $-0.05 | ||
| Q1 25 | $0.03 | $0.00 | ||
| Q4 24 | $0.06 | $0.76 | ||
| Q3 24 | $0.05 | $0.14 | ||
| Q2 24 | $-0.01 | $0.18 | ||
| Q1 24 | $-0.05 | $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 | $342.1M | $1.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $542.1M | $240.7M |
| Total Assets | $612.9M | $563.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $342.1M | $1.5M | ||
| Q3 25 | $338.6M | $1.2M | ||
| Q2 25 | $336.8M | $206.0K | ||
| Q1 25 | $325.5M | $183.0K | ||
| Q4 24 | $334.7M | $206.0K | ||
| Q3 24 | $231.3M | $178.0K | ||
| Q2 24 | $256.0M | $314.0K | ||
| Q1 24 | $249.4M | $314.0K |
| Q4 25 | $542.1M | $240.7M | ||
| Q3 25 | $537.7M | $244.8M | ||
| Q2 25 | $532.2M | $246.8M | ||
| Q1 25 | $517.4M | $250.0M | ||
| Q4 24 | $517.8M | $251.8M | ||
| Q3 24 | $400.2M | $238.4M | ||
| Q2 24 | $388.4M | $238.1M | ||
| Q1 24 | $382.8M | $234.0M |
| Q4 25 | $612.9M | $563.6M | ||
| Q3 25 | $613.2M | $585.6M | ||
| Q2 25 | $608.9M | $433.7M | ||
| Q1 25 | $590.9M | $447.7M | ||
| Q4 24 | $592.2M | $445.6M | ||
| Q3 24 | $477.3M | $466.0M | ||
| Q2 24 | $443.6M | $488.2M | ||
| Q1 24 | $435.3M | $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 | $9.9M | $13.4M |
| Free Cash FlowOCF − Capex | $6.1M | $10.2M |
| FCF MarginFCF / Revenue | 5.7% | 7.6% |
| Capex IntensityCapex / Revenue | 3.6% | 2.4% |
| Cash ConversionOCF / Net Profit | 32.34× | — |
| TTM Free Cash FlowTrailing 4 quarters | $25.3M | $26.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $9.9M | $13.4M | ||
| Q3 25 | $7.0M | $1.9M | ||
| Q2 25 | $14.4M | $15.0M | ||
| Q1 25 | $9.4M | $8.3M | ||
| Q4 24 | $7.1M | $38.0M | ||
| Q3 24 | $9.2M | $17.9M | ||
| Q2 24 | $10.7M | $23.3M | ||
| Q1 24 | $3.2M | $10.6M |
| Q4 25 | $6.1M | $10.2M | ||
| Q3 25 | $2.9M | $-1.1M | ||
| Q2 25 | $10.2M | $12.5M | ||
| Q1 25 | $6.0M | $5.4M | ||
| Q4 24 | $4.4M | $35.6M | ||
| Q3 24 | $5.9M | $15.1M | ||
| Q2 24 | $8.0M | $19.2M | ||
| Q1 24 | $43.0K | $7.8M |
| Q4 25 | 5.7% | 7.6% | ||
| Q3 25 | 2.8% | -0.8% | ||
| Q2 25 | 10.1% | 9.5% | ||
| Q1 25 | 6.0% | 4.0% | ||
| Q4 24 | 4.4% | 29.4% | ||
| Q3 24 | 6.8% | 11.1% | ||
| Q2 24 | 9.7% | 11.7% | ||
| Q1 24 | 0.1% | 4.9% |
| Q4 25 | 3.6% | 2.4% | ||
| Q3 25 | 3.9% | 2.1% | ||
| Q2 25 | 4.1% | 1.8% | ||
| Q1 25 | 3.3% | 2.2% | ||
| Q4 24 | 2.6% | 1.9% | ||
| Q3 24 | 3.7% | 2.1% | ||
| Q2 24 | 3.2% | 2.5% | ||
| Q1 24 | 4.0% | 1.7% |
| Q4 25 | 32.34× | — | ||
| Q3 25 | 5.92× | — | ||
| Q2 25 | 2.73× | — | ||
| Q1 25 | 3.21× | 416.65× | ||
| Q4 24 | 1.56× | 2.38× | ||
| Q3 24 | 2.15× | 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
GDYN
| Other | $30.6M | 29% |
| Technology Media And Telecom | $30.1M | 28% |
| Financial Service | $24.3M | 23% |
| Manufactured Product Other | $10.8M | 10% |
| Related Party | $7.6M | 7% |
| Health Care | $2.8M | 3% |
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% |
