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Side-by-side financial comparison of Globalstar, Inc. (GSAT) 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 $72.0M, roughly 1.9× Globalstar, Inc.). Mayville Engineering Company, Inc. runs the higher net margin — -3.2% vs -16.1%, a 12.9% gap on every dollar of revenue. On growth, Globalstar, Inc. posted the faster year-over-year revenue change (17.6% vs 10.7%). Over the past eight quarters, Globalstar, Inc.'s revenue compounded faster (12.9% CAGR vs -8.8%).
Globalstar, Inc. is an American telecommunications company that operates a satellite constellation in low Earth orbit (LEO) for satellite phone, low-speed data transmission and Earth observation. The Globalstar second-generation constellation consists of 25 satellites.
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.
GSAT vs MEC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $72.0M | $134.3M |
| Net Profit | $-11.6M | $-4.4M |
| Gross Margin | — | 6.8% |
| Operating Margin | -0.5% | -4.1% |
| Net Margin | -16.1% | -3.2% |
| Revenue YoY | 17.6% | 10.7% |
| Net Profit YoY | 76.9% | -127.3% |
| EPS (diluted) | $-0.11 | $-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 | $72.0M | $134.3M | ||
| Q3 25 | $73.8M | $144.3M | ||
| Q2 25 | $67.1M | $132.3M | ||
| Q1 25 | $60.0M | $135.6M | ||
| Q4 24 | $61.2M | $121.3M | ||
| Q3 24 | $72.3M | $135.4M | ||
| Q2 24 | $60.4M | $163.6M | ||
| Q1 24 | $56.5M | $161.3M |
| Q4 25 | $-11.6M | $-4.4M | ||
| Q3 25 | $1.1M | $-2.7M | ||
| Q2 25 | $19.2M | $-1.1M | ||
| Q1 25 | $-17.3M | $20.0K | ||
| Q4 24 | $-50.2M | $16.0M | ||
| Q3 24 | $9.9M | $3.0M | ||
| Q2 24 | $-9.7M | $3.8M | ||
| Q1 24 | $-13.2M | $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 | -0.5% | -4.1% | ||
| Q3 25 | 13.8% | 0.0% | ||
| Q2 25 | 9.2% | 0.1% | ||
| Q1 25 | -14.2% | 1.2% | ||
| Q4 24 | -6.9% | 19.0% | ||
| Q3 24 | 13.0% | 4.2% | ||
| Q2 24 | -2.4% | 5.0% | ||
| Q1 24 | -8.3% | 4.7% |
| Q4 25 | -16.1% | -3.2% | ||
| Q3 25 | 1.5% | -1.9% | ||
| Q2 25 | 28.6% | -0.8% | ||
| Q1 25 | -28.9% | 0.0% | ||
| Q4 24 | -82.1% | 13.2% | ||
| Q3 24 | 13.7% | 2.2% | ||
| Q2 24 | -16.0% | 2.3% | ||
| Q1 24 | -23.4% | 2.0% |
| Q4 25 | $-0.11 | $-0.22 | ||
| Q3 25 | $-0.01 | $-0.13 | ||
| Q2 25 | $0.13 | $-0.05 | ||
| Q1 25 | $-0.16 | $0.00 | ||
| Q4 24 | $-0.57 | $0.76 | ||
| Q3 24 | $0.00 | $0.14 | ||
| Q2 24 | $-0.01 | $0.18 | ||
| Q1 24 | $-0.01 | $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 | $447.5M | $1.5M |
| Total DebtLower is stronger | $483.8M | — |
| Stockholders' EquityBook value | $355.7M | $240.7M |
| Total Assets | $2.3B | $563.6M |
| Debt / EquityLower = less leverage | 1.36× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $447.5M | $1.5M | ||
| Q3 25 | $346.3M | $1.2M | ||
| Q2 25 | $308.2M | $206.0K | ||
| Q1 25 | $241.4M | $183.0K | ||
| Q4 24 | $391.2M | $206.0K | ||
| Q3 24 | $51.9M | $178.0K | ||
| Q2 24 | $64.3M | $314.0K | ||
| Q1 24 | $59.3M | $314.0K |
| Q4 25 | $483.8M | — | ||
| Q3 25 | $508.6M | — | ||
| Q2 25 | $491.5M | — | ||
| Q1 25 | $502.7M | — | ||
| Q4 24 | $511.4M | — | ||
| Q3 24 | $394.4M | — | ||
| Q2 24 | $393.1M | — | ||
| Q1 24 | $398.7M | — |
| Q4 25 | $355.7M | $240.7M | ||
| Q3 25 | $364.8M | $244.8M | ||
| Q2 25 | $360.9M | $246.8M | ||
| Q1 25 | $344.3M | $250.0M | ||
| Q4 24 | $358.9M | $251.8M | ||
| Q3 24 | $394.1M | $238.4M | ||
| Q2 24 | $383.0M | $238.1M | ||
| Q1 24 | $377.1M | $234.0M |
| Q4 25 | $2.3B | $563.6M | ||
| Q3 25 | $2.2B | $585.6M | ||
| Q2 25 | $1.9B | $433.7M | ||
| Q1 25 | $1.7B | $447.7M | ||
| Q4 24 | $1.7B | $445.6M | ||
| Q3 24 | $917.6M | $466.0M | ||
| Q2 24 | $926.2M | $488.2M | ||
| Q1 24 | $917.0M | $499.9M |
| Q4 25 | 1.36× | — | ||
| Q3 25 | 1.39× | — | ||
| Q2 25 | 1.36× | — | ||
| Q1 25 | 1.46× | — | ||
| Q4 24 | 1.43× | — | ||
| Q3 24 | 1.00× | — | ||
| Q2 24 | 1.03× | — | ||
| Q1 24 | 1.06× | — |
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 | $175.9M | $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 | $175.9M | $13.4M | ||
| Q3 25 | $236.0M | $1.9M | ||
| Q2 25 | $157.9M | $15.0M | ||
| Q1 25 | $51.9M | $8.3M | ||
| Q4 24 | $340.7M | $38.0M | ||
| Q3 24 | $32.0M | $17.9M | ||
| Q2 24 | $36.7M | $23.3M | ||
| Q1 24 | $29.8M | $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 | 216.53× | — | ||
| Q2 25 | 8.22× | — | ||
| Q1 25 | — | 416.65× | ||
| Q4 24 | — | 2.38× | ||
| Q3 24 | 3.23× | 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
GSAT
| Services | $67.4M | 94% |
| Products | $4.6M | 6% |
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% |
