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Side-by-side financial comparison of Mayville Engineering Company, Inc. (MEC) and MATERION Corp (MTRN). Click either name above to swap in a different company.
MATERION Corp is the larger business by last-quarter revenue ($489.8M vs $134.3M, roughly 3.6× Mayville Engineering Company, Inc.). MATERION Corp runs the higher net margin — 1.3% vs -3.2%, a 4.6% gap on every dollar of revenue. On growth, MATERION Corp posted the faster year-over-year revenue change (12.1% vs 10.7%). Over the past eight quarters, MATERION Corp's revenue compounded faster (12.7% CAGR vs -8.8%).
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.
Materion Corp. is a multinational company specializing in high-performance advanced materials. Among its products are advanced beryllium metals, thin film deposition materials, high-performance alloys and composites, specialty engineered beryllium, engineered metals, technical ceramics, tantalum, niobium, other precious and non-precious metals, inorganic chemicals, and specialty coatings.
MEC vs MTRN — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $134.3M | $489.8M |
| Net Profit | $-4.4M | $6.6M |
| Gross Margin | 6.8% | 13.0% |
| Operating Margin | -4.1% | 2.2% |
| Net Margin | -3.2% | 1.3% |
| Revenue YoY | 10.7% | 12.1% |
| Net Profit YoY | -127.3% | 113.5% |
| EPS (diluted) | $-0.22 | $0.30 |
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 | $134.3M | $489.8M | ||
| Q3 25 | $144.3M | $444.8M | ||
| Q2 25 | $132.3M | $431.7M | ||
| Q1 25 | $135.6M | $420.3M | ||
| Q4 24 | $121.3M | $436.9M | ||
| Q3 24 | $135.4M | $436.7M | ||
| Q2 24 | $163.6M | $425.9M | ||
| Q1 24 | $161.3M | $385.3M |
| Q4 25 | $-4.4M | $6.6M | ||
| Q3 25 | $-2.7M | $25.4M | ||
| Q2 25 | $-1.1M | $25.1M | ||
| Q1 25 | $20.0K | $17.7M | ||
| Q4 24 | $16.0M | $-48.9M | ||
| Q3 24 | $3.0M | $22.3M | ||
| Q2 24 | $3.8M | $19.0M | ||
| Q1 24 | $3.2M | $13.4M |
| Q4 25 | 6.8% | 13.0% | ||
| Q3 25 | 11.0% | 19.4% | ||
| Q2 25 | 10.3% | 19.1% | ||
| Q1 25 | 11.3% | 18.1% | ||
| Q4 24 | 8.9% | 21.3% | ||
| Q3 24 | 12.6% | 18.5% | ||
| Q2 24 | 13.6% | 19.0% | ||
| Q1 24 | 13.0% | 18.5% |
| Q4 25 | -4.1% | 2.2% | ||
| Q3 25 | 0.0% | 7.9% | ||
| Q2 25 | 0.1% | 8.5% | ||
| Q1 25 | 1.2% | 6.5% | ||
| Q4 24 | 19.0% | -8.8% | ||
| Q3 24 | 4.2% | 7.2% | ||
| Q2 24 | 5.0% | 7.5% | ||
| Q1 24 | 4.7% | 5.8% |
| Q4 25 | -3.2% | 1.3% | ||
| Q3 25 | -1.9% | 5.7% | ||
| Q2 25 | -0.8% | 5.8% | ||
| Q1 25 | 0.0% | 4.2% | ||
| Q4 24 | 13.2% | -11.2% | ||
| Q3 24 | 2.2% | 5.1% | ||
| Q2 24 | 2.3% | 4.5% | ||
| Q1 24 | 2.0% | 3.5% |
| Q4 25 | $-0.22 | $0.30 | ||
| Q3 25 | $-0.13 | $1.22 | ||
| Q2 25 | $-0.05 | $1.21 | ||
| Q1 25 | $0.00 | $0.85 | ||
| Q4 24 | $0.76 | $-2.34 | ||
| Q3 24 | $0.14 | $1.07 | ||
| Q2 24 | $0.18 | $0.91 | ||
| Q1 24 | $0.16 | $0.64 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.5M | $13.7M |
| Total DebtLower is stronger | — | $460.6M |
| Stockholders' EquityBook value | $240.7M | $943.3M |
| Total Assets | $563.6M | $1.8B |
| Debt / EquityLower = less leverage | — | 0.49× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.5M | $13.7M | ||
| Q3 25 | $1.2M | $16.4M | ||
| Q2 25 | $206.0K | $12.6M | ||
| Q1 25 | $183.0K | $15.6M | ||
| Q4 24 | $206.0K | $16.7M | ||
| Q3 24 | $178.0K | $17.9M | ||
| Q2 24 | $314.0K | $17.1M | ||
| Q1 24 | $314.0K | $13.1M |
| Q4 25 | — | $460.6M | ||
| Q3 25 | — | $458.9M | ||
| Q2 25 | — | $427.6M | ||
| Q1 25 | — | $453.0M | ||
| Q4 24 | — | $443.9M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $477.9M |
| Q4 25 | $240.7M | $943.3M | ||
| Q3 25 | $244.8M | $934.6M | ||
| Q2 25 | $246.8M | $910.6M | ||
| Q1 25 | $250.0M | $887.9M | ||
| Q4 24 | $251.8M | $868.9M | ||
| Q3 24 | $238.4M | $931.9M | ||
| Q2 24 | $238.1M | $907.1M | ||
| Q1 24 | $234.0M | $889.9M |
| Q4 25 | $563.6M | $1.8B | ||
| Q3 25 | $585.6M | $1.8B | ||
| Q2 25 | $433.7M | $1.7B | ||
| Q1 25 | $447.7M | $1.8B | ||
| Q4 24 | $445.6M | $1.7B | ||
| Q3 24 | $466.0M | $1.9B | ||
| Q2 24 | $488.2M | $1.8B | ||
| Q1 24 | $499.9M | $1.8B |
| Q4 25 | — | 0.49× | ||
| Q3 25 | — | 0.49× | ||
| Q2 25 | — | 0.47× | ||
| Q1 25 | — | 0.51× | ||
| Q4 24 | — | 0.51× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 0.54× |
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 | $13.4M | $19.5M |
| Free Cash FlowOCF − Capex | $10.2M | — |
| FCF MarginFCF / Revenue | 7.6% | — |
| Capex IntensityCapex / Revenue | 2.4% | — |
| Cash ConversionOCF / Net Profit | — | 2.97× |
| TTM Free Cash FlowTrailing 4 quarters | $26.9M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $13.4M | $19.5M | ||
| Q3 25 | $1.9M | $18.3M | ||
| Q2 25 | $15.0M | $49.9M | ||
| Q1 25 | $8.3M | $15.5M | ||
| Q4 24 | $38.0M | $76.3M | ||
| Q3 24 | $17.9M | $5.1M | ||
| Q2 24 | $23.3M | $20.3M | ||
| Q1 24 | $10.6M | $-13.8M |
| Q4 25 | $10.2M | — | ||
| Q3 25 | $-1.1M | — | ||
| Q2 25 | $12.5M | — | ||
| Q1 25 | $5.4M | $3.2M | ||
| Q4 24 | $35.6M | — | ||
| Q3 24 | $15.1M | $-24.3M | ||
| Q2 24 | $19.2M | — | ||
| Q1 24 | $7.8M | $-35.1M |
| Q4 25 | 7.6% | — | ||
| Q3 25 | -0.8% | — | ||
| Q2 25 | 9.5% | — | ||
| Q1 25 | 4.0% | 0.8% | ||
| Q4 24 | 29.4% | — | ||
| Q3 24 | 11.1% | -5.6% | ||
| Q2 24 | 11.7% | — | ||
| Q1 24 | 4.9% | -9.1% |
| Q4 25 | 2.4% | — | ||
| Q3 25 | 2.1% | — | ||
| Q2 25 | 1.8% | — | ||
| Q1 25 | 2.2% | 2.9% | ||
| Q4 24 | 1.9% | — | ||
| Q3 24 | 2.1% | 6.7% | ||
| Q2 24 | 2.5% | — | ||
| Q1 24 | 1.7% | 5.5% |
| Q4 25 | — | 2.97× | ||
| Q3 25 | — | 0.72× | ||
| Q2 25 | — | 1.99× | ||
| Q1 25 | 416.65× | 0.88× | ||
| Q4 24 | 2.38× | — | ||
| Q3 24 | 6.03× | 0.23× | ||
| Q2 24 | 6.15× | 1.07× | ||
| Q1 24 | 3.28× | -1.03× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
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% |
MTRN
| Electronic Materials | $313.9M | 64% |
| Aerospaceand Defense | $48.4M | 10% |
| Industrial Components | $34.3M | 7% |
| Precision Optics | $27.5M | 6% |
| Other End Market | $22.3M | 5% |
| Energy | $18.8M | 4% |
| Automotive Electronics | $18.5M | 4% |
| Semiconductor | $3.6M | 1% |
| Consumer Electronics | $362.0K | 0% |
