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Side-by-side financial comparison of Mayville Engineering Company, Inc. (MEC) and QUALYS, INC. (QLYS). Click either name above to swap in a different company.
QUALYS, INC. is the larger business by last-quarter revenue ($175.3M vs $134.3M, roughly 1.3× Mayville Engineering Company, Inc.). QUALYS, INC. runs the higher net margin — 30.3% vs -3.2%, a 33.6% gap on every dollar of revenue. On growth, Mayville Engineering Company, Inc. posted the faster year-over-year revenue change (10.7% vs 10.1%). QUALYS, INC. produced more free cash flow last quarter ($74.9M vs $10.2M). Over the past eight quarters, QUALYS, INC.'s revenue compounded faster (9.6% 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.
Qualys, Inc. is an American technology firm based in Foster City, California, specializing in cloud security, compliance and related services.
MEC vs QLYS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $134.3M | $175.3M |
| Net Profit | $-4.4M | $53.1M |
| Gross Margin | 6.8% | 83.4% |
| Operating Margin | -4.1% | 33.6% |
| Net Margin | -3.2% | 30.3% |
| Revenue YoY | 10.7% | 10.1% |
| Net Profit YoY | -127.3% | 20.9% |
| EPS (diluted) | $-0.22 | $1.47 |
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 | $175.3M | ||
| Q3 25 | $144.3M | $169.9M | ||
| Q2 25 | $132.3M | $164.1M | ||
| Q1 25 | $135.6M | $159.9M | ||
| Q4 24 | $121.3M | $159.2M | ||
| Q3 24 | $135.4M | $153.9M | ||
| Q2 24 | $163.6M | $148.7M | ||
| Q1 24 | $161.3M | $145.8M |
| Q4 25 | $-4.4M | $53.1M | ||
| Q3 25 | $-2.7M | $50.3M | ||
| Q2 25 | $-1.1M | $47.3M | ||
| Q1 25 | $20.0K | $47.5M | ||
| Q4 24 | $16.0M | $44.0M | ||
| Q3 24 | $3.0M | $46.2M | ||
| Q2 24 | $3.8M | $43.8M | ||
| Q1 24 | $3.2M | $39.7M |
| Q4 25 | 6.8% | 83.4% | ||
| Q3 25 | 11.0% | 83.6% | ||
| Q2 25 | 10.3% | 82.4% | ||
| Q1 25 | 11.3% | 81.9% | ||
| Q4 24 | 8.9% | 81.8% | ||
| Q3 24 | 12.6% | 81.3% | ||
| Q2 24 | 13.6% | 82.2% | ||
| Q1 24 | 13.0% | 81.3% |
| Q4 25 | -4.1% | 33.6% | ||
| Q3 25 | 0.0% | 35.3% | ||
| Q2 25 | 0.1% | 31.3% | ||
| Q1 25 | 1.2% | 32.4% | ||
| Q4 24 | 19.0% | 31.0% | ||
| Q3 24 | 4.2% | 29.2% | ||
| Q2 24 | 5.0% | 32.3% | ||
| Q1 24 | 4.7% | 30.7% |
| Q4 25 | -3.2% | 30.3% | ||
| Q3 25 | -1.9% | 29.6% | ||
| Q2 25 | -0.8% | 28.8% | ||
| Q1 25 | 0.0% | 29.7% | ||
| Q4 24 | 13.2% | 27.6% | ||
| Q3 24 | 2.2% | 30.0% | ||
| Q2 24 | 2.3% | 29.4% | ||
| Q1 24 | 2.0% | 27.2% |
| Q4 25 | $-0.22 | $1.47 | ||
| Q3 25 | $-0.13 | $1.39 | ||
| Q2 25 | $-0.05 | $1.29 | ||
| Q1 25 | $0.00 | $1.29 | ||
| Q4 24 | $0.76 | $1.19 | ||
| Q3 24 | $0.14 | $1.24 | ||
| Q2 24 | $0.18 | $1.17 | ||
| Q1 24 | $0.16 | $1.05 |
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 | $250.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $240.7M | $561.2M |
| Total Assets | $563.6M | $1.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.5M | $250.3M | ||
| Q3 25 | $1.2M | $225.3M | ||
| Q2 25 | $206.0K | $194.0M | ||
| Q1 25 | $183.0K | $290.7M | ||
| Q4 24 | $206.0K | $232.2M | ||
| Q3 24 | $178.0K | $235.4M | ||
| Q2 24 | $314.0K | $281.2M | ||
| Q1 24 | $314.0K | $273.8M |
| Q4 25 | $240.7M | $561.2M | ||
| Q3 25 | $244.8M | $529.4M | ||
| Q2 25 | $246.8M | $508.2M | ||
| Q1 25 | $250.0M | $498.0M | ||
| Q4 24 | $251.8M | $477.1M | ||
| Q3 24 | $238.4M | $449.6M | ||
| Q2 24 | $238.1M | $427.8M | ||
| Q1 24 | $234.0M | $404.2M |
| Q4 25 | $563.6M | $1.1B | ||
| Q3 25 | $585.6M | $1.0B | ||
| Q2 25 | $433.7M | $999.5M | ||
| Q1 25 | $447.7M | $996.5M | ||
| Q4 24 | $445.6M | $973.5M | ||
| Q3 24 | $466.0M | $908.3M | ||
| Q2 24 | $488.2M | $876.6M | ||
| Q1 24 | $499.9M | $861.8M |
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 | $75.7M |
| Free Cash FlowOCF − Capex | $10.2M | $74.9M |
| FCF MarginFCF / Revenue | 7.6% | 42.8% |
| Capex IntensityCapex / Revenue | 2.4% | 0.4% |
| Cash ConversionOCF / Net Profit | — | 1.42× |
| TTM Free Cash FlowTrailing 4 quarters | $26.9M | $304.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $13.4M | $75.7M | ||
| Q3 25 | $1.9M | $90.4M | ||
| Q2 25 | $15.0M | $33.8M | ||
| Q1 25 | $8.3M | $109.6M | ||
| Q4 24 | $38.0M | $47.7M | ||
| Q3 24 | $17.9M | $61.0M | ||
| Q2 24 | $23.3M | $49.8M | ||
| Q1 24 | $10.6M | $85.5M |
| Q4 25 | $10.2M | $74.9M | ||
| Q3 25 | $-1.1M | $89.5M | ||
| Q2 25 | $12.5M | $32.4M | ||
| Q1 25 | $5.4M | $107.5M | ||
| Q4 24 | $35.6M | $41.9M | ||
| Q3 24 | $15.1M | $57.6M | ||
| Q2 24 | $19.2M | $48.8M | ||
| Q1 24 | $7.8M | $83.5M |
| Q4 25 | 7.6% | 42.8% | ||
| Q3 25 | -0.8% | 52.7% | ||
| Q2 25 | 9.5% | 19.8% | ||
| Q1 25 | 4.0% | 67.3% | ||
| Q4 24 | 29.4% | 26.3% | ||
| Q3 24 | 11.1% | 37.4% | ||
| Q2 24 | 11.7% | 32.8% | ||
| Q1 24 | 4.9% | 57.2% |
| Q4 25 | 2.4% | 0.4% | ||
| Q3 25 | 2.1% | 0.5% | ||
| Q2 25 | 1.8% | 0.8% | ||
| Q1 25 | 2.2% | 1.3% | ||
| Q4 24 | 1.9% | 3.7% | ||
| Q3 24 | 2.1% | 2.2% | ||
| Q2 24 | 2.5% | 0.7% | ||
| Q1 24 | 1.7% | 1.4% |
| Q4 25 | — | 1.42× | ||
| Q3 25 | — | 1.80× | ||
| Q2 25 | — | 0.71× | ||
| Q1 25 | 416.65× | 2.31× | ||
| Q4 24 | 2.38× | 1.09× | ||
| Q3 24 | 6.03× | 1.32× | ||
| Q2 24 | 6.15× | 1.14× | ||
| Q1 24 | 3.28× | 2.15× |
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% |
QLYS
| Sales Channel Through Intermediary | $88.6M | 51% |
| Sales Channel Directly To Consumer | $86.7M | 49% |
