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Side-by-side financial comparison of HA Sustainable Infrastructure Capital, Inc. (HASI) 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 $114.8M, roughly 1.2× HA Sustainable Infrastructure Capital, Inc.). Mayville Engineering Company, Inc. runs the higher net margin — -3.2% vs -46.8%, a 43.6% gap on every dollar of revenue. On growth, HA Sustainable Infrastructure Capital, Inc. posted the faster year-over-year revenue change (13.3% vs 10.7%). Over the past eight quarters, HA Sustainable Infrastructure Capital, Inc.'s revenue compounded faster (4.2% CAGR vs -8.8%).
HA Sustainable Infrastructure Capital, Inc. (HASI) is a specialized investment firm focused on sustainable infrastructure assets covering renewable energy, energy efficiency, sustainable real estate and low-carbon utility segments. It primarily operates in North American markets, providing long-term capital to eligible sustainable projects and delivering stable risk-adjusted returns to investors through recurring cash flows from operational underlying assets.
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.
HASI vs MEC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $114.8M | $134.3M |
| Net Profit | $-53.8M | $-4.4M |
| Gross Margin | — | 6.8% |
| Operating Margin | -57.4% | -4.1% |
| Net Margin | -46.8% | -3.2% |
| Revenue YoY | 13.3% | 10.7% |
| Net Profit YoY | -176.7% | -127.3% |
| EPS (diluted) | $-0.38 | $-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 | $114.8M | $134.3M | ||
| Q3 25 | $103.1M | $144.3M | ||
| Q2 25 | $85.7M | $132.3M | ||
| Q1 25 | $96.9M | $135.6M | ||
| Q4 24 | $101.3M | $121.3M | ||
| Q3 24 | $82.0M | $135.4M | ||
| Q2 24 | $94.5M | $163.6M | ||
| Q1 24 | $105.8M | $161.3M |
| Q4 25 | $-53.8M | $-4.4M | ||
| Q3 25 | $83.3M | $-2.7M | ||
| Q2 25 | $98.4M | $-1.1M | ||
| Q1 25 | $56.6M | $20.0K | ||
| Q4 24 | $70.1M | $16.0M | ||
| Q3 24 | $-19.6M | $3.0M | ||
| Q2 24 | $26.5M | $3.8M | ||
| Q1 24 | $123.0M | $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 | -57.4% | -4.1% | ||
| Q3 25 | — | 0.0% | ||
| Q2 25 | — | 0.1% | ||
| Q1 25 | 84.7% | 1.2% | ||
| Q4 24 | 90.9% | 19.0% | ||
| Q3 24 | -32.1% | 4.2% | ||
| Q2 24 | 39.5% | 5.0% | ||
| Q1 24 | — | 4.7% |
| Q4 25 | -46.8% | -3.2% | ||
| Q3 25 | 80.8% | -1.9% | ||
| Q2 25 | 114.9% | -0.8% | ||
| Q1 25 | 58.4% | 0.0% | ||
| Q4 24 | 69.2% | 13.2% | ||
| Q3 24 | -23.9% | 2.2% | ||
| Q2 24 | 28.1% | 2.3% | ||
| Q1 24 | 116.3% | 2.0% |
| Q4 25 | $-0.38 | $-0.22 | ||
| Q3 25 | $0.61 | $-0.13 | ||
| Q2 25 | $0.74 | $-0.05 | ||
| Q1 25 | $0.44 | $0.00 | ||
| Q4 24 | $0.58 | $0.76 | ||
| Q3 24 | $-0.17 | $0.14 | ||
| Q2 24 | $0.23 | $0.18 | ||
| Q1 24 | $0.98 | $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 | $110.2M | $1.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.7B | $240.7M |
| Total Assets | $8.2B | $563.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $110.2M | $1.5M | ||
| Q3 25 | $301.8M | $1.2M | ||
| Q2 25 | $86.5M | $206.0K | ||
| Q1 25 | $67.4M | $183.0K | ||
| Q4 24 | $129.8M | $206.0K | ||
| Q3 24 | $44.1M | $178.0K | ||
| Q2 24 | $145.7M | $314.0K | ||
| Q1 24 | $61.4M | $314.0K |
| Q4 25 | $2.7B | $240.7M | ||
| Q3 25 | $2.7B | $244.8M | ||
| Q2 25 | $2.6B | $246.8M | ||
| Q1 25 | $2.5B | $250.0M | ||
| Q4 24 | $2.4B | $251.8M | ||
| Q3 24 | $2.3B | $238.4M | ||
| Q2 24 | $2.3B | $238.1M | ||
| Q1 24 | $2.3B | $234.0M |
| Q4 25 | $8.2B | $563.6M | ||
| Q3 25 | $8.2B | $585.6M | ||
| Q2 25 | $7.6B | $433.7M | ||
| Q1 25 | $7.5B | $447.7M | ||
| Q4 24 | $7.1B | $445.6M | ||
| Q3 24 | $6.7B | $466.0M | ||
| Q2 24 | $6.7B | $488.2M | ||
| Q1 24 | $6.7B | $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 | $167.3M | $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 | $167.3M | $13.4M | ||
| Q3 25 | $-121.8M | $1.9M | ||
| Q2 25 | $79.6M | $15.0M | ||
| Q1 25 | $-37.1M | $8.3M | ||
| Q4 24 | $5.9M | $38.0M | ||
| Q3 24 | $21.9M | $17.9M | ||
| Q2 24 | $-24.8M | $23.3M | ||
| Q1 24 | $20.9M | $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 | -1.46× | — | ||
| Q2 25 | 0.81× | — | ||
| Q1 25 | -0.66× | 416.65× | ||
| Q4 24 | 0.08× | 2.38× | ||
| Q3 24 | — | 6.03× | ||
| Q2 24 | -0.94× | 6.15× | ||
| Q1 24 | 0.17× | 3.28× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HASI
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% |
