vs
Side-by-side financial comparison of HCI Group, Inc. (HCI) and Mayville Engineering Company, Inc. (MEC). Click either name above to swap in a different company.
HCI Group, Inc. is the larger business by last-quarter revenue ($246.2M vs $134.3M, roughly 1.8× Mayville Engineering Company, Inc.). HCI Group, Inc. runs the higher net margin — 39.7% vs -3.2%, a 42.9% gap on every dollar of revenue. On growth, HCI Group, Inc. posted the faster year-over-year revenue change (52.1% vs 10.7%). HCI Group, Inc. produced more free cash flow last quarter ($440.8M vs $10.2M). Over the past eight quarters, HCI Group, Inc.'s revenue compounded faster (9.2% CAGR vs -8.8%).
HCI Equity Partners is a Washington, DC–based private equity firm with an additional office in Chicago, Illinois.
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.
HCI vs MEC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $246.2M | $134.3M |
| Net Profit | $97.7M | $-4.4M |
| Gross Margin | — | 6.8% |
| Operating Margin | 58.5% | -4.1% |
| Net Margin | 39.7% | -3.2% |
| Revenue YoY | 52.1% | 10.7% |
| Net Profit YoY | 3679.2% | -127.3% |
| EPS (diluted) | $7.29 | $-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 | $246.2M | $134.3M | ||
| Q3 25 | $216.3M | $144.3M | ||
| Q2 25 | $221.9M | $132.3M | ||
| Q1 25 | $216.4M | $135.6M | ||
| Q4 24 | $161.9M | $121.3M | ||
| Q3 24 | $175.3M | $135.4M | ||
| Q2 24 | $206.2M | $163.6M | ||
| Q1 24 | $206.6M | $161.3M |
| Q4 25 | $97.7M | $-4.4M | ||
| Q3 25 | $65.5M | $-2.7M | ||
| Q2 25 | $66.2M | $-1.1M | ||
| Q1 25 | $69.7M | $20.0K | ||
| Q4 24 | $2.6M | $16.0M | ||
| Q3 24 | $5.7M | $3.0M | ||
| Q2 24 | $54.1M | $3.8M | ||
| Q1 24 | $47.6M | $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 | 58.5% | -4.1% | ||
| Q3 25 | 41.9% | 0.0% | ||
| Q2 25 | 42.5% | 0.1% | ||
| Q1 25 | 46.4% | 1.2% | ||
| Q4 24 | 3.6% | 19.0% | ||
| Q3 24 | 8.0% | 4.2% | ||
| Q2 24 | 36.9% | 5.0% | ||
| Q1 24 | 37.5% | 4.7% |
| Q4 25 | 39.7% | -3.2% | ||
| Q3 25 | 30.3% | -1.9% | ||
| Q2 25 | 29.8% | -0.8% | ||
| Q1 25 | 32.2% | 0.0% | ||
| Q4 24 | 1.6% | 13.2% | ||
| Q3 24 | 3.2% | 2.2% | ||
| Q2 24 | 26.2% | 2.3% | ||
| Q1 24 | 23.0% | 2.0% |
| Q4 25 | $7.29 | $-0.22 | ||
| Q3 25 | $4.90 | $-0.13 | ||
| Q2 25 | $5.18 | $-0.05 | ||
| Q1 25 | $5.35 | $0.00 | ||
| Q4 24 | $0.32 | $0.76 | ||
| Q3 24 | $0.52 | $0.14 | ||
| Q2 24 | $4.24 | $0.18 | ||
| Q1 24 | $3.81 | $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 | $1.2B | $1.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.0B | $240.7M |
| Total Assets | $2.5B | $563.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.2B | $1.5M | ||
| Q3 25 | $987.9M | $1.2M | ||
| Q2 25 | $947.2M | $206.0K | ||
| Q1 25 | $754.5M | $183.0K | ||
| Q4 24 | $532.5M | $206.0K | ||
| Q3 24 | $518.8M | $178.0K | ||
| Q2 24 | $445.8M | $314.0K | ||
| Q1 24 | $655.4M | $314.0K |
| Q4 25 | $1.0B | $240.7M | ||
| Q3 25 | $821.8M | $244.8M | ||
| Q2 25 | $758.6M | $246.8M | ||
| Q1 25 | $522.7M | $250.0M | ||
| Q4 24 | $453.3M | $251.8M | ||
| Q3 24 | $455.3M | $238.4M | ||
| Q2 24 | $447.3M | $238.1M | ||
| Q1 24 | $395.7M | $234.0M |
| Q4 25 | $2.5B | $563.6M | ||
| Q3 25 | $2.3B | $585.6M | ||
| Q2 25 | $2.4B | $433.7M | ||
| Q1 25 | $2.3B | $447.7M | ||
| Q4 24 | $2.2B | $445.6M | ||
| Q3 24 | $2.0B | $466.0M | ||
| Q2 24 | $1.9B | $488.2M | ||
| Q1 24 | $1.8B | $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 | $444.4M | $13.4M |
| Free Cash FlowOCF − Capex | $440.8M | $10.2M |
| FCF MarginFCF / Revenue | 179.0% | 7.6% |
| Capex IntensityCapex / Revenue | 1.5% | 2.4% |
| Cash ConversionOCF / Net Profit | 4.55× | — |
| TTM Free Cash FlowTrailing 4 quarters | $771.4M | $26.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $444.4M | $13.4M | ||
| Q3 25 | $26.7M | $1.9M | ||
| Q2 25 | $145.0M | $15.0M | ||
| Q1 25 | $162.0M | $8.3M | ||
| Q4 24 | $331.8M | $38.0M | ||
| Q3 24 | $104.1M | $17.9M | ||
| Q2 24 | $-29.0M | $23.3M | ||
| Q1 24 | $182.0M | $10.6M |
| Q4 25 | $440.8M | $10.2M | ||
| Q3 25 | $25.9M | $-1.1M | ||
| Q2 25 | $144.5M | $12.5M | ||
| Q1 25 | $160.3M | $5.4M | ||
| Q4 24 | $327.8M | $35.6M | ||
| Q3 24 | $103.2M | $15.1M | ||
| Q2 24 | $-30.1M | $19.2M | ||
| Q1 24 | $181.0M | $7.8M |
| Q4 25 | 179.0% | 7.6% | ||
| Q3 25 | 12.0% | -0.8% | ||
| Q2 25 | 65.1% | 9.5% | ||
| Q1 25 | 74.1% | 4.0% | ||
| Q4 24 | 202.5% | 29.4% | ||
| Q3 24 | 58.9% | 11.1% | ||
| Q2 24 | -14.6% | 11.7% | ||
| Q1 24 | 87.6% | 4.9% |
| Q4 25 | 1.5% | 2.4% | ||
| Q3 25 | 0.4% | 2.1% | ||
| Q2 25 | 0.2% | 1.8% | ||
| Q1 25 | 0.8% | 2.2% | ||
| Q4 24 | 2.5% | 1.9% | ||
| Q3 24 | 0.5% | 2.1% | ||
| Q2 24 | 0.5% | 2.5% | ||
| Q1 24 | 0.5% | 1.7% |
| Q4 25 | 4.55× | — | ||
| Q3 25 | 0.41× | — | ||
| Q2 25 | 2.19× | — | ||
| Q1 25 | 2.32× | 416.65× | ||
| Q4 24 | 128.41× | 2.38× | ||
| Q3 24 | 18.33× | 6.03× | ||
| Q2 24 | -0.54× | 6.15× | ||
| Q1 24 | 3.82× | 3.28× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HCI
| Insurance Operation | $218.3M | 89% |
| Reciprocal Exchange Operation | $27.0M | 11% |
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% |
