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Side-by-side financial comparison of IMAX CORP (IMAX) 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 $125.2M, roughly 1.1× IMAX CORP). IMAX CORP runs the higher net margin — 0.5% vs -3.2%, a 3.8% gap on every dollar of revenue. On growth, IMAX CORP posted the faster year-over-year revenue change (35.1% vs 10.7%). IMAX CORP produced more free cash flow last quarter ($28.0M vs $10.2M). Over the past eight quarters, IMAX CORP's revenue compounded faster (25.8% CAGR vs -8.8%).
IMAX Corporation is a Canadian production theatre company which designs and manufactures IMAX cameras and projection systems as well as performing film development, production, post-production and distribution to IMAX-affiliated theatres worldwide. Founded in Montreal in 1967, it has headquarters in the Toronto area, and operations in New York City and Los Angeles.
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.
IMAX vs MEC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $125.2M | $134.3M |
| Net Profit | $637.0K | $-4.4M |
| Gross Margin | 57.6% | 6.8% |
| Operating Margin | 19.3% | -4.1% |
| Net Margin | 0.5% | -3.2% |
| Revenue YoY | 35.1% | 10.7% |
| Net Profit YoY | -88.0% | -127.3% |
| EPS (diluted) | $0.02 | $-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 | $125.2M | $134.3M | ||
| Q3 25 | $106.7M | $144.3M | ||
| Q2 25 | $91.7M | $132.3M | ||
| Q1 25 | $86.7M | $135.6M | ||
| Q4 24 | $92.7M | $121.3M | ||
| Q3 24 | $91.5M | $135.4M | ||
| Q2 24 | $89.0M | $163.6M | ||
| Q1 24 | $79.1M | $161.3M |
| Q4 25 | $637.0K | $-4.4M | ||
| Q3 25 | $20.7M | $-2.7M | ||
| Q2 25 | $11.3M | $-1.1M | ||
| Q1 25 | $2.3M | $20.0K | ||
| Q4 24 | $5.3M | $16.0M | ||
| Q3 24 | $13.9M | $3.0M | ||
| Q2 24 | $3.6M | $3.8M | ||
| Q1 24 | $3.3M | $3.2M |
| Q4 25 | 57.6% | 6.8% | ||
| Q3 25 | 63.1% | 11.0% | ||
| Q2 25 | 58.5% | 10.3% | ||
| Q1 25 | 61.4% | 11.3% | ||
| Q4 24 | 52.2% | 8.9% | ||
| Q3 24 | 55.8% | 12.6% | ||
| Q2 24 | 49.4% | 13.6% | ||
| Q1 24 | 59.3% | 13.0% |
| Q4 25 | 19.3% | -4.1% | ||
| Q3 25 | 27.2% | 0.0% | ||
| Q2 25 | 15.6% | 0.1% | ||
| Q1 25 | 19.3% | 1.2% | ||
| Q4 24 | 10.3% | 19.0% | ||
| Q3 24 | 21.2% | 4.2% | ||
| Q2 24 | 3.2% | 5.0% | ||
| Q1 24 | 15.3% | 4.7% |
| Q4 25 | 0.5% | -3.2% | ||
| Q3 25 | 19.4% | -1.9% | ||
| Q2 25 | 12.3% | -0.8% | ||
| Q1 25 | 2.7% | 0.0% | ||
| Q4 24 | 5.7% | 13.2% | ||
| Q3 24 | 15.2% | 2.2% | ||
| Q2 24 | 4.0% | 2.3% | ||
| Q1 24 | 4.1% | 2.0% |
| Q4 25 | $0.02 | $-0.22 | ||
| Q3 25 | $0.37 | $-0.13 | ||
| Q2 25 | $0.20 | $-0.05 | ||
| Q1 25 | $0.04 | $0.00 | ||
| Q4 24 | $0.09 | $0.76 | ||
| Q3 24 | $0.26 | $0.14 | ||
| Q2 24 | $0.07 | $0.18 | ||
| Q1 24 | $0.06 | $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 | $151.2M | $1.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $337.9M | $240.7M |
| Total Assets | $894.0M | $563.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $151.2M | $1.5M | ||
| Q3 25 | $143.1M | $1.2M | ||
| Q2 25 | $109.3M | $206.0K | ||
| Q1 25 | $97.1M | $183.0K | ||
| Q4 24 | $100.6M | $206.0K | ||
| Q3 24 | $104.5M | $178.0K | ||
| Q2 24 | $91.6M | $314.0K | ||
| Q1 24 | $81.0M | $314.0K |
| Q4 25 | $337.9M | $240.7M | ||
| Q3 25 | $349.5M | $244.8M | ||
| Q2 25 | $320.4M | $246.8M | ||
| Q1 25 | $299.5M | $250.0M | ||
| Q4 24 | $299.5M | $251.8M | ||
| Q3 24 | $289.4M | $238.4M | ||
| Q2 24 | $267.2M | $238.1M | ||
| Q1 24 | $258.8M | $234.0M |
| Q4 25 | $894.0M | $563.6M | ||
| Q3 25 | $889.6M | $585.6M | ||
| Q2 25 | $868.6M | $433.7M | ||
| Q1 25 | $848.3M | $447.7M | ||
| Q4 24 | $830.4M | $445.6M | ||
| Q3 24 | $847.6M | $466.0M | ||
| Q2 24 | $827.4M | $488.2M | ||
| Q1 24 | $824.1M | $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 | $29.4M | $13.4M |
| Free Cash FlowOCF − Capex | $28.0M | $10.2M |
| FCF MarginFCF / Revenue | 22.3% | 7.6% |
| Capex IntensityCapex / Revenue | 1.1% | 2.4% |
| Cash ConversionOCF / Net Profit | 46.11× | — |
| TTM Free Cash FlowTrailing 4 quarters | $118.9M | $26.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $29.4M | $13.4M | ||
| Q3 25 | $67.5M | $1.9M | ||
| Q2 25 | $23.2M | $15.0M | ||
| Q1 25 | $7.0M | $8.3M | ||
| Q4 24 | $11.5M | $38.0M | ||
| Q3 24 | $35.3M | $17.9M | ||
| Q2 24 | $35.0M | $23.3M | ||
| Q1 24 | $-11.0M | $10.6M |
| Q4 25 | $28.0M | $10.2M | ||
| Q3 25 | $64.8M | $-1.1M | ||
| Q2 25 | $20.9M | $12.5M | ||
| Q1 25 | $5.3M | $5.4M | ||
| Q4 24 | $6.9M | $35.6M | ||
| Q3 24 | $34.2M | $15.1M | ||
| Q2 24 | $33.5M | $19.2M | ||
| Q1 24 | $-12.1M | $7.8M |
| Q4 25 | 22.3% | 7.6% | ||
| Q3 25 | 60.7% | -0.8% | ||
| Q2 25 | 22.8% | 9.5% | ||
| Q1 25 | 6.1% | 4.0% | ||
| Q4 24 | 7.4% | 29.4% | ||
| Q3 24 | 37.3% | 11.1% | ||
| Q2 24 | 37.6% | 11.7% | ||
| Q1 24 | -15.3% | 4.9% |
| Q4 25 | 1.1% | 2.4% | ||
| Q3 25 | 2.6% | 2.1% | ||
| Q2 25 | 2.6% | 1.8% | ||
| Q1 25 | 1.9% | 2.2% | ||
| Q4 24 | 5.0% | 1.9% | ||
| Q3 24 | 1.2% | 2.1% | ||
| Q2 24 | 1.8% | 2.5% | ||
| Q1 24 | 1.4% | 1.7% |
| Q4 25 | 46.11× | — | ||
| Q3 25 | 3.27× | — | ||
| Q2 25 | 2.06× | — | ||
| Q1 25 | 2.99× | 416.65× | ||
| Q4 24 | 2.16× | 2.38× | ||
| Q3 24 | 2.54× | 6.03× | ||
| Q2 24 | 9.78× | 6.15× | ||
| Q1 24 | -3.35× | 3.28× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IMAX
| Technology Sales | $46.6M | 37% |
| Image Enhancement And Maintenance Services | $38.1M | 30% |
| Joint Revenue Sharing Arrangement | $20.4M | 16% |
| Maintenance | $16.3M | 13% |
| Finance Income | $2.8M | 2% |
| Other Content Solutions | $1.6M | 1% |
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% |
