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Side-by-side financial comparison of Granite Ridge Resources, Inc. (GRNT) 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 $105.5M, roughly 1.3× Granite Ridge Resources, Inc.). On growth, Mayville Engineering Company, Inc. posted the faster year-over-year revenue change (10.7% vs -0.8%). Over the past eight quarters, Granite Ridge Resources, Inc.'s revenue compounded faster (8.9% CAGR vs -8.8%).
Granite Ridge Resources, Inc. is an independent upstream energy company focused on the exploration, development, and production of oil, natural gas, and natural gas liquids. It operates low-cost, high-yield onshore hydrocarbon assets across key U.S. basins, primarily serving North American energy markets.
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.
GRNT vs MEC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $105.5M | $134.3M |
| Net Profit | — | $-4.4M |
| Gross Margin | — | 6.8% |
| Operating Margin | -34.5% | -4.1% |
| Net Margin | — | -3.2% |
| Revenue YoY | -0.8% | 10.7% |
| Net Profit YoY | — | -127.3% |
| EPS (diluted) | $-0.19 | $-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 | $105.5M | $134.3M | ||
| Q3 25 | $112.7M | $144.3M | ||
| Q2 25 | $109.2M | $132.3M | ||
| Q1 25 | $122.9M | $135.6M | ||
| Q4 24 | $106.3M | $121.3M | ||
| Q3 24 | $94.1M | $135.4M | ||
| Q2 24 | $90.7M | $163.6M | ||
| Q1 24 | $89.0M | $161.3M |
| Q4 25 | — | $-4.4M | ||
| Q3 25 | $14.5M | $-2.7M | ||
| Q2 25 | $25.1M | $-1.1M | ||
| Q1 25 | $9.8M | $20.0K | ||
| Q4 24 | — | $16.0M | ||
| Q3 24 | $9.1M | $3.0M | ||
| Q2 24 | $5.1M | $3.8M | ||
| Q1 24 | $16.2M | $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 | -34.5% | -4.1% | ||
| Q3 25 | 17.4% | 0.0% | ||
| Q2 25 | 19.0% | 0.1% | ||
| Q1 25 | 34.6% | 1.2% | ||
| Q4 24 | -6.5% | 19.0% | ||
| Q3 24 | 26.2% | 4.2% | ||
| Q2 24 | 24.1% | 5.0% | ||
| Q1 24 | 22.0% | 4.7% |
| Q4 25 | — | -3.2% | ||
| Q3 25 | 12.9% | -1.9% | ||
| Q2 25 | 23.0% | -0.8% | ||
| Q1 25 | 8.0% | 0.0% | ||
| Q4 24 | — | 13.2% | ||
| Q3 24 | 9.6% | 2.2% | ||
| Q2 24 | 5.6% | 2.3% | ||
| Q1 24 | 18.2% | 2.0% |
| Q4 25 | $-0.19 | $-0.22 | ||
| Q3 25 | $0.11 | $-0.13 | ||
| Q2 25 | $0.19 | $-0.05 | ||
| Q1 25 | $0.07 | $0.00 | ||
| Q4 24 | $-0.09 | $0.76 | ||
| Q3 24 | $0.07 | $0.14 | ||
| Q2 24 | $0.04 | $0.18 | ||
| Q1 24 | $0.12 | $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 | — | $1.5M |
| Total DebtLower is stronger | $367.8M | — |
| Stockholders' EquityBook value | $605.8M | $240.7M |
| Total Assets | $1.2B | $563.6M |
| Debt / EquityLower = less leverage | 0.61× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $1.5M | ||
| Q3 25 | — | $1.2M | ||
| Q2 25 | — | $206.0K | ||
| Q1 25 | — | $183.0K | ||
| Q4 24 | — | $206.0K | ||
| Q3 24 | — | $178.0K | ||
| Q2 24 | — | $314.0K | ||
| Q1 24 | — | $314.0K |
| Q4 25 | $367.8M | — | ||
| Q3 25 | $300.0M | — | ||
| Q2 25 | $275.0M | — | ||
| Q1 25 | $250.0M | — | ||
| Q4 24 | $205.0M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $137.5M | — |
| Q4 25 | $605.8M | $240.7M | ||
| Q3 25 | $643.9M | $244.8M | ||
| Q2 25 | $642.5M | $246.8M | ||
| Q1 25 | $631.4M | $250.0M | ||
| Q4 24 | $635.4M | $251.8M | ||
| Q3 24 | $660.6M | $238.4M | ||
| Q2 24 | $665.3M | $238.1M | ||
| Q1 24 | $674.0M | $234.0M |
| Q4 25 | $1.2B | $563.6M | ||
| Q3 25 | $1.1B | $585.6M | ||
| Q2 25 | $1.1B | $433.7M | ||
| Q1 25 | $1.1B | $447.7M | ||
| Q4 24 | $1.0B | $445.6M | ||
| Q3 24 | $1.0B | $466.0M | ||
| Q2 24 | $990.5M | $488.2M | ||
| Q1 24 | $966.7M | $499.9M |
| Q4 25 | 0.61× | — | ||
| Q3 25 | 0.47× | — | ||
| Q2 25 | 0.43× | — | ||
| Q1 25 | 0.40× | — | ||
| Q4 24 | 0.32× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 0.20× | — |
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 | $64.5M | $13.4M |
| Free Cash FlowOCF − Capex | — | $10.2M |
| FCF MarginFCF / Revenue | — | 7.6% |
| Capex IntensityCapex / Revenue | — | 2.4% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $26.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $64.5M | $13.4M | ||
| Q3 25 | $77.8M | $1.9M | ||
| Q2 25 | $78.0M | $15.0M | ||
| Q1 25 | $76.1M | $8.3M | ||
| Q4 24 | $68.2M | $38.0M | ||
| Q3 24 | $74.7M | $17.9M | ||
| Q2 24 | $64.2M | $23.3M | ||
| Q1 24 | $68.7M | $10.6M |
| Q4 25 | — | $10.2M | ||
| Q3 25 | — | $-1.1M | ||
| Q2 25 | — | $12.5M | ||
| Q1 25 | — | $5.4M | ||
| Q4 24 | — | $35.6M | ||
| Q3 24 | — | $15.1M | ||
| Q2 24 | — | $19.2M | ||
| Q1 24 | — | $7.8M |
| Q4 25 | — | 7.6% | ||
| Q3 25 | — | -0.8% | ||
| Q2 25 | — | 9.5% | ||
| Q1 25 | — | 4.0% | ||
| Q4 24 | — | 29.4% | ||
| Q3 24 | — | 11.1% | ||
| Q2 24 | — | 11.7% | ||
| Q1 24 | — | 4.9% |
| Q4 25 | — | 2.4% | ||
| Q3 25 | — | 2.1% | ||
| Q2 25 | — | 1.8% | ||
| Q1 25 | — | 2.2% | ||
| Q4 24 | — | 1.9% | ||
| Q3 24 | — | 2.1% | ||
| Q2 24 | — | 2.5% | ||
| Q1 24 | — | 1.7% |
| Q4 25 | — | — | ||
| Q3 25 | 5.36× | — | ||
| Q2 25 | 3.11× | — | ||
| Q1 25 | 7.75× | 416.65× | ||
| Q4 24 | — | 2.38× | ||
| Q3 24 | 8.25× | 6.03× | ||
| Q2 24 | 12.58× | 6.15× | ||
| Q1 24 | 4.23× | 3.28× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
GRNT
| Oil And Gas Service | $87.6M | 83% |
| Natural Gas Storage | $17.9M | 17% |
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% |
