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Side-by-side financial comparison of Mayville Engineering Company, Inc. (MEC) and NICOLET BANKSHARES INC (NIC). 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 $104.0M, roughly 1.3× NICOLET BANKSHARES INC). NICOLET BANKSHARES INC runs the higher net margin — 38.8% vs -3.2%, a 42.0% gap on every dollar of revenue. On growth, NICOLET BANKSHARES INC posted the faster year-over-year revenue change (12.5% vs 10.7%). NICOLET BANKSHARES INC produced more free cash flow last quarter ($149.4M vs $10.2M). Over the past eight quarters, NICOLET BANKSHARES INC's revenue compounded faster (12.5% 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.
Nicolet Bankshares, Inc. is a U.S. regional bank holding company based in Green Bay, Wisconsin. They are the parent company of Nicolet National Bank, the second largest Wisconsin-based bank.
MEC vs NIC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $134.3M | $104.0M |
| Net Profit | $-4.4M | $40.3M |
| Gross Margin | 6.8% | — |
| Operating Margin | -4.1% | 48.3% |
| Net Margin | -3.2% | 38.8% |
| Revenue YoY | 10.7% | 12.5% |
| Net Profit YoY | -127.3% | 16.9% |
| EPS (diluted) | $-0.22 | $2.63 |
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 | $104.0M | ||
| Q3 25 | $144.3M | $102.9M | ||
| Q2 25 | $132.3M | $95.7M | ||
| Q1 25 | $135.6M | $89.4M | ||
| Q4 24 | $121.3M | $92.4M | ||
| Q3 24 | $135.4M | $90.7M | ||
| Q2 24 | $163.6M | $85.0M | ||
| Q1 24 | $161.3M | $82.2M |
| Q4 25 | $-4.4M | $40.3M | ||
| Q3 25 | $-2.7M | $41.7M | ||
| Q2 25 | $-1.1M | $36.0M | ||
| Q1 25 | $20.0K | $32.6M | ||
| Q4 24 | $16.0M | $34.5M | ||
| Q3 24 | $3.0M | $32.5M | ||
| Q2 24 | $3.8M | $29.3M | ||
| Q1 24 | $3.2M | $27.8M |
| 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 | -4.1% | 48.3% | ||
| Q3 25 | 0.0% | 50.4% | ||
| Q2 25 | 0.1% | 46.8% | ||
| Q1 25 | 1.2% | 44.9% | ||
| Q4 24 | 19.0% | 46.8% | ||
| Q3 24 | 4.2% | 45.0% | ||
| Q2 24 | 5.0% | 43.3% | ||
| Q1 24 | 4.7% | 41.8% |
| Q4 25 | -3.2% | 38.8% | ||
| Q3 25 | -1.9% | 40.6% | ||
| Q2 25 | -0.8% | 37.6% | ||
| Q1 25 | 0.0% | 36.4% | ||
| Q4 24 | 13.2% | 37.3% | ||
| Q3 24 | 2.2% | 35.8% | ||
| Q2 24 | 2.3% | 34.5% | ||
| Q1 24 | 2.0% | 33.8% |
| Q4 25 | $-0.22 | $2.63 | ||
| Q3 25 | $-0.13 | $2.73 | ||
| Q2 25 | $-0.05 | $2.34 | ||
| Q1 25 | $0.00 | $2.08 | ||
| Q4 24 | $0.76 | $2.21 | ||
| Q3 24 | $0.14 | $2.10 | ||
| Q2 24 | $0.18 | $1.92 | ||
| Q1 24 | $0.16 | $1.82 |
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 | — |
| Total DebtLower is stronger | — | $134.9M |
| Stockholders' EquityBook value | $240.7M | $1.3B |
| Total Assets | $563.6M | $9.2B |
| Debt / EquityLower = less leverage | — | 0.11× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.5M | — | ||
| Q3 25 | $1.2M | — | ||
| Q2 25 | $206.0K | — | ||
| Q1 25 | $183.0K | — | ||
| Q4 24 | $206.0K | — | ||
| Q3 24 | $178.0K | — | ||
| Q2 24 | $314.0K | — | ||
| Q1 24 | $314.0K | — |
| Q4 25 | — | $134.9M | ||
| Q3 25 | — | $134.6M | ||
| Q2 25 | — | $134.3M | ||
| Q1 25 | — | $156.6M | ||
| Q4 24 | — | $161.4M | ||
| Q3 24 | — | $161.2M | ||
| Q2 24 | — | $162.4M | ||
| Q1 24 | — | $162.3M |
| Q4 25 | $240.7M | $1.3B | ||
| Q3 25 | $244.8M | $1.2B | ||
| Q2 25 | $246.8M | $1.2B | ||
| Q1 25 | $250.0M | $1.2B | ||
| Q4 24 | $251.8M | $1.2B | ||
| Q3 24 | $238.4M | $1.1B | ||
| Q2 24 | $238.1M | $1.1B | ||
| Q1 24 | $234.0M | $1.1B |
| Q4 25 | $563.6M | $9.2B | ||
| Q3 25 | $585.6M | $9.0B | ||
| Q2 25 | $433.7M | $8.9B | ||
| Q1 25 | $447.7M | $9.0B | ||
| Q4 24 | $445.6M | $8.8B | ||
| Q3 24 | $466.0M | $8.6B | ||
| Q2 24 | $488.2M | $8.6B | ||
| Q1 24 | $499.9M | $8.4B |
| Q4 25 | — | 0.11× | ||
| Q3 25 | — | 0.11× | ||
| Q2 25 | — | 0.11× | ||
| Q1 25 | — | 0.13× | ||
| Q4 24 | — | 0.14× | ||
| Q3 24 | — | 0.14× | ||
| Q2 24 | — | 0.15× | ||
| Q1 24 | — | 0.15× |
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 | $153.5M |
| Free Cash FlowOCF − Capex | $10.2M | $149.4M |
| FCF MarginFCF / Revenue | 7.6% | 143.7% |
| Capex IntensityCapex / Revenue | 2.4% | 3.9% |
| Cash ConversionOCF / Net Profit | — | 3.81× |
| TTM Free Cash FlowTrailing 4 quarters | $26.9M | $275.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $13.4M | $153.5M | ||
| Q3 25 | $1.9M | $45.9M | ||
| Q2 25 | $15.0M | $38.9M | ||
| Q1 25 | $8.3M | $41.8M | ||
| Q4 24 | $38.0M | $133.7M | ||
| Q3 24 | $17.9M | $39.6M | ||
| Q2 24 | $23.3M | $37.3M | ||
| Q1 24 | $10.6M | $23.4M |
| Q4 25 | $10.2M | $149.4M | ||
| Q3 25 | $-1.1M | $45.9M | ||
| Q2 25 | $12.5M | $38.4M | ||
| Q1 25 | $5.4M | $41.3M | ||
| Q4 24 | $35.6M | $116.8M | ||
| Q3 24 | $15.1M | $34.7M | ||
| Q2 24 | $19.2M | $34.4M | ||
| Q1 24 | $7.8M | $20.1M |
| Q4 25 | 7.6% | 143.7% | ||
| Q3 25 | -0.8% | 44.6% | ||
| Q2 25 | 9.5% | 40.1% | ||
| Q1 25 | 4.0% | 46.2% | ||
| Q4 24 | 29.4% | 126.4% | ||
| Q3 24 | 11.1% | 38.3% | ||
| Q2 24 | 11.7% | 40.5% | ||
| Q1 24 | 4.9% | 24.4% |
| Q4 25 | 2.4% | 3.9% | ||
| Q3 25 | 2.1% | 0.0% | ||
| Q2 25 | 1.8% | 0.6% | ||
| Q1 25 | 2.2% | 0.5% | ||
| Q4 24 | 1.9% | 18.3% | ||
| Q3 24 | 2.1% | 5.4% | ||
| Q2 24 | 2.5% | 3.5% | ||
| Q1 24 | 1.7% | 4.0% |
| Q4 25 | — | 3.81× | ||
| Q3 25 | — | 1.10× | ||
| Q2 25 | — | 1.08× | ||
| Q1 25 | 416.65× | 1.28× | ||
| Q4 24 | 2.38× | 3.88× | ||
| Q3 24 | 6.03× | 1.22× | ||
| Q2 24 | 6.15× | 1.28× | ||
| Q1 24 | 3.28× | 0.84× |
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% |
NIC
Segment breakdown not available.
