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Side-by-side financial comparison of Mayville Engineering Company, Inc. (MEC) and Metallus Inc. (MTUS). Click either name above to swap in a different company.
Metallus Inc. is the larger business by last-quarter revenue ($267.3M vs $134.3M, roughly 2.0× Mayville Engineering Company, Inc.). Mayville Engineering Company, Inc. runs the higher net margin — -3.2% vs -5.3%, a 2.1% gap on every dollar of revenue. On growth, Metallus Inc. posted the faster year-over-year revenue change (11.1% vs 10.7%). Mayville Engineering Company, Inc. produced more free cash flow last quarter ($10.2M vs $-37.2M). Over the past eight quarters, Mayville Engineering Company, Inc.'s revenue compounded faster (-8.8% 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.
MEC vs MTUS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $134.3M | $267.3M |
| Net Profit | $-4.4M | $-14.3M |
| Gross Margin | 6.8% | 2.2% |
| Operating Margin | -4.1% | -7.7% |
| Net Margin | -3.2% | -5.3% |
| Revenue YoY | 10.7% | 11.1% |
| Net Profit YoY | -127.3% | 33.2% |
| EPS (diluted) | $-0.22 | $-0.34 |
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 | $267.3M | ||
| Q3 25 | $144.3M | $305.9M | ||
| Q2 25 | $132.3M | $304.6M | ||
| Q1 25 | $135.6M | $280.5M | ||
| Q4 24 | $121.3M | $240.5M | ||
| Q3 24 | $135.4M | $227.2M | ||
| Q2 24 | $163.6M | $294.7M | ||
| Q1 24 | $161.3M | $321.6M |
| Q4 25 | $-4.4M | $-14.3M | ||
| Q3 25 | $-2.7M | $8.1M | ||
| Q2 25 | $-1.1M | $3.7M | ||
| Q1 25 | $20.0K | $1.3M | ||
| Q4 24 | $16.0M | $-21.4M | ||
| Q3 24 | $3.0M | $-5.9M | ||
| Q2 24 | $3.8M | $4.6M | ||
| Q1 24 | $3.2M | $24.0M |
| Q4 25 | 6.8% | 2.2% | ||
| Q3 25 | 11.0% | 11.4% | ||
| Q2 25 | 10.3% | 10.6% | ||
| Q1 25 | 11.3% | 7.8% | ||
| Q4 24 | 8.9% | 4.5% | ||
| Q3 24 | 12.6% | 5.3% | ||
| Q2 24 | 13.6% | 8.2% | ||
| Q1 24 | 13.0% | 15.7% |
| Q4 25 | -4.1% | -7.7% | ||
| Q3 25 | 0.0% | 3.6% | ||
| Q2 25 | 0.1% | 2.8% | ||
| Q1 25 | 1.2% | 1.0% | ||
| Q4 24 | 19.0% | -10.1% | ||
| Q3 24 | 4.2% | -3.1% | ||
| Q2 24 | 5.0% | 2.1% | ||
| Q1 24 | 4.7% | 9.3% |
| Q4 25 | -3.2% | -5.3% | ||
| Q3 25 | -1.9% | 2.6% | ||
| Q2 25 | -0.8% | 1.2% | ||
| Q1 25 | 0.0% | 0.5% | ||
| Q4 24 | 13.2% | -8.9% | ||
| Q3 24 | 2.2% | -2.6% | ||
| Q2 24 | 2.3% | 1.6% | ||
| Q1 24 | 2.0% | 7.5% |
| Q4 25 | $-0.22 | $-0.34 | ||
| Q3 25 | $-0.13 | $0.19 | ||
| Q2 25 | $-0.05 | $0.09 | ||
| Q1 25 | $0.00 | $0.03 | ||
| Q4 24 | $0.76 | $-0.46 | ||
| Q3 24 | $0.14 | $-0.13 | ||
| Q2 24 | $0.18 | $0.10 | ||
| Q1 24 | $0.16 | $0.52 |
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 | $156.7M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $240.7M | $686.0M |
| Total Assets | $563.6M | $1.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.5M | $156.7M | ||
| Q3 25 | $1.2M | $191.5M | ||
| Q2 25 | $206.0K | $190.8M | ||
| Q1 25 | $183.0K | $180.3M | ||
| Q4 24 | $206.0K | $240.7M | ||
| Q3 24 | $178.0K | $254.6M | ||
| Q2 24 | $314.0K | $272.8M | ||
| Q1 24 | $314.0K | $278.1M |
| Q4 25 | — | — | ||
| Q3 25 | — | $0 | ||
| Q2 25 | — | $0 | ||
| Q1 25 | — | $5.4M | ||
| Q4 24 | — | $5.4M | ||
| Q3 24 | — | $13.2M | ||
| Q2 24 | — | $13.2M | ||
| Q1 24 | — | $13.2M |
| Q4 25 | $240.7M | $686.0M | ||
| Q3 25 | $244.8M | $697.7M | ||
| Q2 25 | $246.8M | $690.0M | ||
| Q1 25 | $250.0M | $686.1M | ||
| Q4 24 | $251.8M | $690.5M | ||
| Q3 24 | $238.4M | $712.7M | ||
| Q2 24 | $238.1M | $736.3M | ||
| Q1 24 | $234.0M | $739.3M |
| Q4 25 | $563.6M | $1.1B | ||
| Q3 25 | $585.6M | $1.2B | ||
| Q2 25 | $433.7M | $1.1B | ||
| Q1 25 | $447.7M | $1.1B | ||
| Q4 24 | $445.6M | $1.1B | ||
| Q3 24 | $466.0M | $1.1B | ||
| Q2 24 | $488.2M | $1.1B | ||
| Q1 24 | $499.9M | $1.2B |
| Q4 25 | — | — | ||
| Q3 25 | — | 0.00× | ||
| Q2 25 | — | 0.00× | ||
| Q1 25 | — | 0.01× | ||
| Q4 24 | — | 0.01× | ||
| Q3 24 | — | 0.02× | ||
| Q2 24 | — | 0.02× | ||
| Q1 24 | — | 0.02× |
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 | $-1.9M |
| Free Cash FlowOCF − Capex | $10.2M | $-37.2M |
| FCF MarginFCF / Revenue | 7.6% | -13.9% |
| Capex IntensityCapex / Revenue | 2.4% | 13.2% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $26.9M | $-93.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $13.4M | $-1.9M | ||
| Q3 25 | $1.9M | $22.0M | ||
| Q2 25 | $15.0M | $34.8M | ||
| Q1 25 | $8.3M | $-38.9M | ||
| Q4 24 | $38.0M | $13.9M | ||
| Q3 24 | $17.9M | $-15.3M | ||
| Q2 24 | $23.3M | $8.3M | ||
| Q1 24 | $10.6M | $33.4M |
| Q4 25 | $10.2M | $-37.2M | ||
| Q3 25 | $-1.1M | $-6.4M | ||
| Q2 25 | $12.5M | $17.0M | ||
| Q1 25 | $5.4M | $-66.4M | ||
| Q4 24 | $35.6M | $-1.3M | ||
| Q3 24 | $15.1M | $-32.9M | ||
| Q2 24 | $19.2M | $-5.8M | ||
| Q1 24 | $7.8M | $16.0M |
| Q4 25 | 7.6% | -13.9% | ||
| Q3 25 | -0.8% | -2.1% | ||
| Q2 25 | 9.5% | 5.6% | ||
| Q1 25 | 4.0% | -23.7% | ||
| Q4 24 | 29.4% | -0.5% | ||
| Q3 24 | 11.1% | -14.5% | ||
| Q2 24 | 11.7% | -2.0% | ||
| Q1 24 | 4.9% | 5.0% |
| Q4 25 | 2.4% | 13.2% | ||
| Q3 25 | 2.1% | 9.3% | ||
| Q2 25 | 1.8% | 5.8% | ||
| Q1 25 | 2.2% | 9.8% | ||
| Q4 24 | 1.9% | 6.3% | ||
| Q3 24 | 2.1% | 7.7% | ||
| Q2 24 | 2.5% | 4.8% | ||
| Q1 24 | 1.7% | 5.4% |
| Q4 25 | — | — | ||
| Q3 25 | — | 2.72× | ||
| Q2 25 | — | 9.41× | ||
| Q1 25 | 416.65× | -29.92× | ||
| Q4 24 | 2.38× | — | ||
| Q3 24 | 6.03× | — | ||
| Q2 24 | 6.15× | 1.80× | ||
| Q1 24 | 3.28× | 1.39× |
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% |
MTUS
| Industrial Market Sector | $95.3M | 36% |
| Manufactured Components | $67.8M | 25% |
| Aerospace And Defense | $39.6M | 15% |
| Seamless Mechanical Tubing | $31.3M | 12% |
| Energy Market Sector | $18.3M | 7% |
| Other | $11.3M | 4% |
| Other Market Sector | $3.7M | 1% |
