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Side-by-side financial comparison of Mayville Engineering Company, Inc. (MEC) and NWPX Infrastructure, Inc. (NWPX). Click either name above to swap in a different company.
NWPX Infrastructure, Inc. is the larger business by last-quarter revenue ($138.3M vs $134.3M, roughly 1.0× Mayville Engineering Company, Inc.). NWPX Infrastructure, Inc. runs the higher net margin — 7.6% vs -3.2%, a 10.9% gap on every dollar of revenue. On growth, NWPX Infrastructure, Inc. posted the faster year-over-year revenue change (19.1% vs 10.7%). Over the past eight quarters, NWPX Infrastructure, Inc.'s revenue compounded faster (3.3% 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 NWPX — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $134.3M | $138.3M |
| Net Profit | $-4.4M | $10.5M |
| Gross Margin | 6.8% | 19.3% |
| Operating Margin | -4.1% | 9.2% |
| Net Margin | -3.2% | 7.6% |
| Revenue YoY | 10.7% | 19.1% |
| Net Profit YoY | -127.3% | 165.7% |
| EPS (diluted) | $-0.22 | $1.08 |
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.
| Q1 26 | — | $138.3M | ||
| Q4 25 | $134.3M | $125.6M | ||
| Q3 25 | $144.3M | $151.1M | ||
| Q2 25 | $132.3M | $133.2M | ||
| Q1 25 | $135.6M | $116.1M | ||
| Q4 24 | $121.3M | $119.6M | ||
| Q3 24 | $135.4M | $130.2M | ||
| Q2 24 | $163.6M | $129.5M |
| Q1 26 | — | $10.5M | ||
| Q4 25 | $-4.4M | $8.9M | ||
| Q3 25 | $-2.7M | $13.5M | ||
| Q2 25 | $-1.1M | $9.1M | ||
| Q1 25 | $20.0K | $4.0M | ||
| Q4 24 | $16.0M | $10.1M | ||
| Q3 24 | $3.0M | $10.3M | ||
| Q2 24 | $3.8M | $8.6M |
| Q1 26 | — | 19.3% | ||
| Q4 25 | 6.8% | 21.3% | ||
| Q3 25 | 11.0% | 21.3% | ||
| Q2 25 | 10.3% | 19.0% | ||
| Q1 25 | 11.3% | 16.7% | ||
| Q4 24 | 8.9% | 18.8% | ||
| Q3 24 | 12.6% | 20.8% | ||
| Q2 24 | 13.6% | 19.9% |
| Q1 26 | — | 9.2% | ||
| Q4 25 | -4.1% | 10.4% | ||
| Q3 25 | 0.0% | 12.6% | ||
| Q2 25 | 0.1% | 9.9% | ||
| Q1 25 | 1.2% | 4.8% | ||
| Q4 24 | 19.0% | 8.8% | ||
| Q3 24 | 4.2% | 11.9% | ||
| Q2 24 | 5.0% | 10.5% |
| Q1 26 | — | 7.6% | ||
| Q4 25 | -3.2% | 7.1% | ||
| Q3 25 | -1.9% | 8.9% | ||
| Q2 25 | -0.8% | 6.8% | ||
| Q1 25 | 0.0% | 3.4% | ||
| Q4 24 | 13.2% | 8.4% | ||
| Q3 24 | 2.2% | 7.9% | ||
| Q2 24 | 2.3% | 6.7% |
| Q1 26 | — | $1.08 | ||
| Q4 25 | $-0.22 | $0.88 | ||
| Q3 25 | $-0.13 | $1.38 | ||
| Q2 25 | $-0.05 | $0.91 | ||
| Q1 25 | $0.00 | $0.39 | ||
| Q4 24 | $0.76 | $1.00 | ||
| Q3 24 | $0.14 | $1.02 | ||
| Q2 24 | $0.18 | $0.86 |
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 | $14.3M |
| Total DebtLower is stronger | — | $10.7M |
| Stockholders' EquityBook value | $240.7M | $403.7M |
| Total Assets | $563.6M | $634.1M |
| Debt / EquityLower = less leverage | — | 0.03× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $14.3M | ||
| Q4 25 | $1.5M | $2.3M | ||
| Q3 25 | $1.2M | $2.7M | ||
| Q2 25 | $206.0K | $2.0M | ||
| Q1 25 | $183.0K | $5.3M | ||
| Q4 24 | $206.0K | $5.0M | ||
| Q3 24 | $178.0K | $5.7M | ||
| Q2 24 | $314.0K | $4.5M |
| Q1 26 | — | $10.7M | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $403.7M | ||
| Q4 25 | $240.7M | $394.8M | ||
| Q3 25 | $244.8M | $386.4M | ||
| Q2 25 | $246.8M | $379.5M | ||
| Q1 25 | $250.0M | $378.5M | ||
| Q4 24 | $251.8M | $374.0M | ||
| Q3 24 | $238.4M | $362.4M | ||
| Q2 24 | $238.1M | $351.2M |
| Q1 26 | — | $634.1M | ||
| Q4 25 | $563.6M | $579.6M | ||
| Q3 25 | $585.6M | $605.2M | ||
| Q2 25 | $433.7M | $592.6M | ||
| Q1 25 | $447.7M | $582.2M | ||
| Q4 24 | $445.6M | $589.7M | ||
| Q3 24 | $466.0M | $617.2M | ||
| Q2 24 | $488.2M | $631.7M |
| Q1 26 | — | 0.03× | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | $29.3M |
| Free Cash FlowOCF − Capex | $10.2M | — |
| FCF MarginFCF / Revenue | 7.6% | — |
| Capex IntensityCapex / Revenue | 2.4% | — |
| Cash ConversionOCF / Net Profit | — | 2.78× |
| TTM Free Cash FlowTrailing 4 quarters | $26.9M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $29.3M | ||
| Q4 25 | $13.4M | $36.0M | ||
| Q3 25 | $1.9M | $21.0M | ||
| Q2 25 | $15.0M | $5.4M | ||
| Q1 25 | $8.3M | $4.8M | ||
| Q4 24 | $38.0M | $36.1M | ||
| Q3 24 | $17.9M | $22.7M | ||
| Q2 24 | $23.3M | $22.3M |
| Q1 26 | — | — | ||
| Q4 25 | $10.2M | $30.8M | ||
| Q3 25 | $-1.1M | $13.2M | ||
| Q2 25 | $12.5M | $1.9M | ||
| Q1 25 | $5.4M | $1.2M | ||
| Q4 24 | $35.6M | $31.9M | ||
| Q3 24 | $15.1M | $16.8M | ||
| Q2 24 | $19.2M | $16.2M |
| Q1 26 | — | — | ||
| Q4 25 | 7.6% | 24.5% | ||
| Q3 25 | -0.8% | 8.7% | ||
| Q2 25 | 9.5% | 1.4% | ||
| Q1 25 | 4.0% | 1.0% | ||
| Q4 24 | 29.4% | 26.7% | ||
| Q3 24 | 11.1% | 12.9% | ||
| Q2 24 | 11.7% | 12.5% |
| Q1 26 | — | — | ||
| Q4 25 | 2.4% | 4.1% | ||
| Q3 25 | 2.1% | 5.2% | ||
| Q2 25 | 1.8% | 2.6% | ||
| Q1 25 | 2.2% | 3.2% | ||
| Q4 24 | 1.9% | 3.5% | ||
| Q3 24 | 2.1% | 4.6% | ||
| Q2 24 | 2.5% | 4.7% |
| Q1 26 | — | 2.78× | ||
| Q4 25 | — | 4.06× | ||
| Q3 25 | — | 1.55× | ||
| Q2 25 | — | 0.60× | ||
| Q1 25 | 416.65× | 1.22× | ||
| Q4 24 | 2.38× | 3.58× | ||
| Q3 24 | 6.03× | 2.22× | ||
| Q2 24 | 6.15× | 2.58× |
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% |
NWPX
| Water Transmission Systems | $93.5M | 68% |
| Precast Infrastructure and Engineered Systems | $44.8M | 32% |
