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Side-by-side financial comparison of INSTEEL INDUSTRIES INC (IIIN) and Mayville Engineering Company, Inc. (MEC). Click either name above to swap in a different company.
INSTEEL INDUSTRIES INC is the larger business by last-quarter revenue ($159.9M vs $134.3M, roughly 1.2× Mayville Engineering Company, Inc.). INSTEEL INDUSTRIES INC runs the higher net margin — 4.7% vs -3.2%, a 8.0% gap on every dollar of revenue. On growth, INSTEEL INDUSTRIES INC posted the faster year-over-year revenue change (23.3% vs 10.7%). Mayville Engineering Company, Inc. produced more free cash flow last quarter ($10.2M vs $-2.2M). Over the past eight quarters, INSTEEL INDUSTRIES INC's revenue compounded faster (12.0% CAGR vs -8.8%).
Insteel Industries Inc is a leading U.S. manufacturer of steel reinforcing products including welded wire reinforcement and steel fibers. It primarily serves non-residential construction, infrastructure, and precast concrete segments across North America, delivering high-performance reinforcement solutions for various construction projects.
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.
IIIN vs MEC — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $159.9M | $134.3M |
| Net Profit | $7.6M | $-4.4M |
| Gross Margin | 11.3% | 6.8% |
| Operating Margin | 6.0% | -4.1% |
| Net Margin | 4.7% | -3.2% |
| Revenue YoY | 23.3% | 10.7% |
| Net Profit YoY | 602.4% | -127.3% |
| EPS (diluted) | $0.39 | $-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 | $159.9M | $134.3M | ||
| Q3 25 | $177.4M | $144.3M | ||
| Q2 25 | $179.9M | $132.3M | ||
| Q1 25 | $160.7M | $135.6M | ||
| Q4 24 | $129.7M | $121.3M | ||
| Q3 24 | $134.3M | $135.4M | ||
| Q2 24 | $145.8M | $163.6M | ||
| Q1 24 | $127.4M | $161.3M |
| Q4 25 | $7.6M | $-4.4M | ||
| Q3 25 | $14.6M | $-2.7M | ||
| Q2 25 | $15.2M | $-1.1M | ||
| Q1 25 | $10.2M | $20.0K | ||
| Q4 24 | $1.1M | $16.0M | ||
| Q3 24 | $4.7M | $3.0M | ||
| Q2 24 | $6.6M | $3.8M | ||
| Q1 24 | $6.9M | $3.2M |
| Q4 25 | 11.3% | 6.8% | ||
| Q3 25 | 16.1% | 11.0% | ||
| Q2 25 | 17.1% | 10.3% | ||
| Q1 25 | 15.3% | 11.3% | ||
| Q4 24 | 7.3% | 8.9% | ||
| Q3 24 | 9.1% | 12.6% | ||
| Q2 24 | 10.6% | 13.6% | ||
| Q1 24 | 12.3% | 13.0% |
| Q4 25 | 6.0% | -4.1% | ||
| Q3 25 | 10.8% | 0.0% | ||
| Q2 25 | 11.0% | 0.1% | ||
| Q1 25 | 8.3% | 1.2% | ||
| Q4 24 | 1.1% | 19.0% | ||
| Q3 24 | 4.5% | 4.2% | ||
| Q2 24 | 6.0% | 5.0% | ||
| Q1 24 | 7.0% | 4.7% |
| Q4 25 | 4.7% | -3.2% | ||
| Q3 25 | 8.2% | -1.9% | ||
| Q2 25 | 8.4% | -0.8% | ||
| Q1 25 | 6.4% | 0.0% | ||
| Q4 24 | 0.8% | 13.2% | ||
| Q3 24 | 3.5% | 2.2% | ||
| Q2 24 | 4.5% | 2.3% | ||
| Q1 24 | 5.4% | 2.0% |
| Q4 25 | $0.39 | $-0.22 | ||
| Q3 25 | $0.74 | $-0.13 | ||
| Q2 25 | $0.78 | $-0.05 | ||
| Q1 25 | $0.52 | $0.00 | ||
| Q4 24 | $0.06 | $0.76 | ||
| Q3 24 | $0.24 | $0.14 | ||
| Q2 24 | $0.34 | $0.18 | ||
| Q1 24 | $0.35 | $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 | $15.6M | $1.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $358.8M | $240.7M |
| Total Assets | $456.1M | $563.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $15.6M | $1.5M | ||
| Q3 25 | $38.6M | $1.2M | ||
| Q2 25 | $53.7M | $206.0K | ||
| Q1 25 | $28.4M | $183.0K | ||
| Q4 24 | $36.0M | $206.0K | ||
| Q3 24 | $111.5M | $178.0K | ||
| Q2 24 | $97.7M | $314.0K | ||
| Q1 24 | $83.9M | $314.0K |
| Q4 25 | $358.8M | $240.7M | ||
| Q3 25 | $371.5M | $244.8M | ||
| Q2 25 | $356.2M | $246.8M | ||
| Q1 25 | $341.4M | $250.0M | ||
| Q4 24 | $331.6M | $251.8M | ||
| Q3 24 | $350.9M | $238.4M | ||
| Q2 24 | $346.0M | $238.1M | ||
| Q1 24 | $340.6M | $234.0M |
| Q4 25 | $456.1M | $563.6M | ||
| Q3 25 | $462.6M | $585.6M | ||
| Q2 25 | $471.9M | $433.7M | ||
| Q1 25 | $421.9M | $447.7M | ||
| Q4 24 | $404.7M | $445.6M | ||
| Q3 24 | $422.6M | $466.0M | ||
| Q2 24 | $414.6M | $488.2M | ||
| Q1 24 | $397.2M | $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 | $-701.0K | $13.4M |
| Free Cash FlowOCF − Capex | $-2.2M | $10.2M |
| FCF MarginFCF / Revenue | -1.4% | 7.6% |
| Capex IntensityCapex / Revenue | 0.9% | 2.4% |
| Cash ConversionOCF / Net Profit | -0.09× | — |
| TTM Free Cash FlowTrailing 4 quarters | $439.0K | $26.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-701.0K | $13.4M | ||
| Q3 25 | $-17.0M | $1.9M | ||
| Q2 25 | $28.5M | $15.0M | ||
| Q1 25 | $-3.3M | $8.3M | ||
| Q4 24 | $19.0M | $38.0M | ||
| Q3 24 | $16.2M | $17.9M | ||
| Q2 24 | $18.8M | $23.3M | ||
| Q1 24 | $1.4M | $10.6M |
| Q4 25 | $-2.2M | $10.2M | ||
| Q3 25 | $-18.7M | $-1.1M | ||
| Q2 25 | $26.9M | $12.5M | ||
| Q1 25 | $-5.5M | $5.4M | ||
| Q4 24 | $16.3M | $35.6M | ||
| Q3 24 | $14.5M | $15.1M | ||
| Q2 24 | $15.5M | $19.2M | ||
| Q1 24 | $-580.0K | $7.8M |
| Q4 25 | -1.4% | 7.6% | ||
| Q3 25 | -10.6% | -0.8% | ||
| Q2 25 | 15.0% | 9.5% | ||
| Q1 25 | -3.5% | 4.0% | ||
| Q4 24 | 12.6% | 29.4% | ||
| Q3 24 | 10.8% | 11.1% | ||
| Q2 24 | 10.7% | 11.7% | ||
| Q1 24 | -0.5% | 4.9% |
| Q4 25 | 0.9% | 2.4% | ||
| Q3 25 | 1.0% | 2.1% | ||
| Q2 25 | 0.9% | 1.8% | ||
| Q1 25 | 1.4% | 2.2% | ||
| Q4 24 | 2.1% | 1.9% | ||
| Q3 24 | 1.3% | 2.1% | ||
| Q2 24 | 2.2% | 2.5% | ||
| Q1 24 | 1.5% | 1.7% |
| Q4 25 | -0.09× | — | ||
| Q3 25 | -1.17× | — | ||
| Q2 25 | 1.88× | — | ||
| Q1 25 | -0.32× | 416.65× | ||
| Q4 24 | 17.56× | 2.38× | ||
| Q3 24 | 3.48× | 6.03× | ||
| Q2 24 | 2.86× | 6.15× | ||
| Q1 24 | 0.20× | 3.28× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IIIN
| Welded Wire Reinforcement | $108.4M | 68% |
| PC Strand | $51.6M | 32% |
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% |
