vs
Side-by-side financial comparison of Mayville Engineering Company, Inc. (MEC) and Ranpak Holdings Corp. (PACK). 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 $93.7M, roughly 1.4× Ranpak Holdings Corp.). On growth, Mayville Engineering Company, Inc. posted the faster year-over-year revenue change (10.7% vs 2.3%). Over the past eight quarters, Ranpak Holdings Corp.'s revenue compounded faster (13.7% 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.
Ranpak Holdings Corp. manufactures machines and paper products used in protective paper-based packing for shipping goods and merchandise for e-commerce and industry, along with automation solutions. The company is based in Concord, Ohio, and has production facilities and offices in Reno, Nevada; Kansas City, Missouri; the Netherlands; Czech Republic; Shanghai and Singapore. The paper packaging material can be used for multiple applications like wrapping, cushioning, void fill and cold chain p...
MEC vs PACK — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $134.3M | $93.7M |
| Net Profit | $-4.4M | — |
| Gross Margin | 6.8% | 39.0% |
| Operating Margin | -4.1% | -1.0% |
| Net Margin | -3.2% | — |
| Revenue YoY | 10.7% | 2.3% |
| Net Profit YoY | -127.3% | — |
| EPS (diluted) | $-0.22 | $-0.11 |
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 | $93.7M | ||
| Q3 25 | $144.3M | $83.6M | ||
| Q2 25 | $132.3M | $77.8M | ||
| Q1 25 | $135.6M | $77.6M | ||
| Q4 24 | $121.3M | $91.6M | ||
| Q3 24 | $135.4M | $78.6M | ||
| Q2 24 | $163.6M | $72.8M | ||
| Q1 24 | $161.3M | $72.5M |
| Q4 25 | $-4.4M | — | ||
| Q3 25 | $-2.7M | $-10.4M | ||
| Q2 25 | $-1.1M | $-7.5M | ||
| Q1 25 | $20.0K | $-10.9M | ||
| Q4 24 | $16.0M | — | ||
| Q3 24 | $3.0M | $-8.1M | ||
| Q2 24 | $3.8M | $5.5M | ||
| Q1 24 | $3.2M | $-8.1M |
| Q4 25 | 6.8% | 39.0% | ||
| Q3 25 | 11.0% | 41.1% | ||
| Q2 25 | 10.3% | 37.1% | ||
| Q1 25 | 11.3% | 39.8% | ||
| Q4 24 | 8.9% | 45.2% | ||
| Q3 24 | 12.6% | 43.8% | ||
| Q2 24 | 13.6% | 43.5% | ||
| Q1 24 | 13.0% | 44.6% |
| Q4 25 | -4.1% | -1.0% | ||
| Q3 25 | 0.0% | -6.8% | ||
| Q2 25 | 0.1% | -12.5% | ||
| Q1 25 | 1.2% | -10.3% | ||
| Q4 24 | 19.0% | 1.5% | ||
| Q3 24 | 4.2% | -5.3% | ||
| Q2 24 | 5.0% | -7.1% | ||
| Q1 24 | 4.7% | -6.6% |
| Q4 25 | -3.2% | — | ||
| Q3 25 | -1.9% | -12.4% | ||
| Q2 25 | -0.8% | -9.6% | ||
| Q1 25 | 0.0% | -14.0% | ||
| Q4 24 | 13.2% | — | ||
| Q3 24 | 2.2% | -10.3% | ||
| Q2 24 | 2.3% | 7.6% | ||
| Q1 24 | 2.0% | -11.2% |
| Q4 25 | $-0.22 | $-0.11 | ||
| Q3 25 | $-0.13 | $-0.12 | ||
| Q2 25 | $-0.05 | $-0.09 | ||
| Q1 25 | $0.00 | $-0.13 | ||
| Q4 24 | $0.76 | $-0.13 | ||
| Q3 24 | $0.14 | $-0.10 | ||
| Q2 24 | $0.18 | $0.07 | ||
| Q1 24 | $0.16 | $-0.10 |
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 | $63.0M |
| Total DebtLower is stronger | — | $401.9M |
| Stockholders' EquityBook value | $240.7M | $534.9M |
| Total Assets | $563.6M | $1.1B |
| Debt / EquityLower = less leverage | — | 0.75× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.5M | $63.0M | ||
| Q3 25 | $1.2M | $49.9M | ||
| Q2 25 | $206.0K | $49.2M | ||
| Q1 25 | $183.0K | $65.5M | ||
| Q4 24 | $206.0K | $76.1M | ||
| Q3 24 | $178.0K | $69.5M | ||
| Q2 24 | $314.0K | $65.1M | ||
| Q1 24 | $314.0K | $55.1M |
| Q4 25 | — | $401.9M | ||
| Q3 25 | — | $403.1M | ||
| Q2 25 | — | $403.1M | ||
| Q1 25 | — | $405.2M | ||
| Q4 24 | — | $406.4M | ||
| Q3 24 | — | $403.2M | ||
| Q2 24 | — | $396.1M | ||
| Q1 24 | — | $396.7M |
| Q4 25 | $240.7M | $534.9M | ||
| Q3 25 | $244.8M | $537.8M | ||
| Q2 25 | $246.8M | $539.0M | ||
| Q1 25 | $250.0M | $544.1M | ||
| Q4 24 | $251.8M | $548.1M | ||
| Q3 24 | $238.4M | $564.3M | ||
| Q2 24 | $238.1M | $566.2M | ||
| Q1 24 | $234.0M | $560.0M |
| Q4 25 | $563.6M | $1.1B | ||
| Q3 25 | $585.6M | $1.1B | ||
| 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 | $1.1B |
| Q4 25 | — | 0.75× | ||
| Q3 25 | — | 0.75× | ||
| Q2 25 | — | 0.75× | ||
| Q1 25 | — | 0.74× | ||
| Q4 24 | — | 0.74× | ||
| Q3 24 | — | 0.71× | ||
| Q2 24 | — | 0.70× | ||
| Q1 24 | — | 0.71× |
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 | — | — |
| 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 | $8.5M | ||
| Q2 25 | $15.0M | $-3.6M | ||
| Q1 25 | $8.3M | $-1.3M | ||
| Q4 24 | $38.0M | $6.5M | ||
| Q3 24 | $17.9M | $10.1M | ||
| Q2 24 | $23.3M | $19.6M | ||
| Q1 24 | $10.6M | $5.2M |
| Q4 25 | $10.2M | — | ||
| Q3 25 | $-1.1M | — | ||
| Q2 25 | $12.5M | — | ||
| Q1 25 | $5.4M | — | ||
| Q4 24 | $35.6M | — | ||
| Q3 24 | $15.1M | — | ||
| Q2 24 | $19.2M | — | ||
| Q1 24 | $7.8M | — |
| Q4 25 | 7.6% | — | ||
| Q3 25 | -0.8% | — | ||
| Q2 25 | 9.5% | — | ||
| Q1 25 | 4.0% | — | ||
| Q4 24 | 29.4% | — | ||
| Q3 24 | 11.1% | — | ||
| Q2 24 | 11.7% | — | ||
| Q1 24 | 4.9% | — |
| Q4 25 | 2.4% | — | ||
| Q3 25 | 2.1% | — | ||
| Q2 25 | 1.8% | — | ||
| Q1 25 | 2.2% | — | ||
| Q4 24 | 1.9% | — | ||
| Q3 24 | 2.1% | — | ||
| Q2 24 | 2.5% | — | ||
| Q1 24 | 1.7% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 416.65× | — | ||
| Q4 24 | 2.38× | — | ||
| Q3 24 | 6.03× | — | ||
| Q2 24 | 6.15× | 3.56× | ||
| Q1 24 | 3.28× | — |
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% |
PACK
| Other | $47.9M | 51% |
| Europe And Asia Segment | $45.8M | 49% |
