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Side-by-side financial comparison of Mayville Engineering Company, Inc. (MEC) and SHENANDOAH TELECOMMUNICATIONS CO (SHEN). 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 $91.6M, roughly 1.5× SHENANDOAH TELECOMMUNICATIONS CO). Mayville Engineering Company, Inc. runs the higher net margin — -3.2% vs -5.9%, a 2.6% gap on every dollar of revenue. On growth, Mayville Engineering Company, Inc. posted the faster year-over-year revenue change (10.7% vs 7.2%). Mayville Engineering Company, Inc. produced more free cash flow last quarter ($10.2M vs $-78.6M). Over the past eight quarters, SHENANDOAH TELECOMMUNICATIONS CO's revenue compounded faster (15.0% 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.
Shenandoah Telecommunications Co is a U.S. regional telecom provider offering broadband internet, wireless voice/data services, digital cable TV, and fiber-optic solutions. It serves residential, small business and enterprise clients across Mid-Atlantic states, focusing on underserved rural and suburban markets in Virginia, West Virginia, Maryland and Pennsylvania.
MEC vs SHEN — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $134.3M | $91.6M |
| Net Profit | $-4.4M | $-5.4M |
| Gross Margin | 6.8% | — |
| Operating Margin | -4.1% | -1.0% |
| Net Margin | -3.2% | -5.9% |
| Revenue YoY | 10.7% | 7.2% |
| Net Profit YoY | -127.3% | -95.8% |
| EPS (diluted) | $-0.22 | $-0.13 |
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 | $91.6M | ||
| Q3 25 | $144.3M | $89.8M | ||
| Q2 25 | $132.3M | $88.6M | ||
| Q1 25 | $135.6M | $87.9M | ||
| Q4 24 | $121.3M | $85.4M | ||
| Q3 24 | $135.4M | $87.6M | ||
| Q2 24 | $163.6M | $85.8M | ||
| Q1 24 | $161.3M | $69.2M |
| Q4 25 | $-4.4M | $-5.4M | ||
| Q3 25 | $-2.7M | $-9.4M | ||
| Q2 25 | $-1.1M | $-9.0M | ||
| Q1 25 | $20.0K | $-9.1M | ||
| Q4 24 | $16.0M | $-2.7M | ||
| Q3 24 | $3.0M | $-5.3M | ||
| Q2 24 | $3.8M | $-12.9M | ||
| Q1 24 | $3.2M | $214.7M |
| 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% | -1.0% | ||
| Q3 25 | 0.0% | -8.0% | ||
| Q2 25 | 0.1% | -10.3% | ||
| Q1 25 | 1.2% | -6.9% | ||
| Q4 24 | 19.0% | -6.7% | ||
| Q3 24 | 4.2% | -4.8% | ||
| Q2 24 | 5.0% | -18.5% | ||
| Q1 24 | 4.7% | -4.0% |
| Q4 25 | -3.2% | -5.9% | ||
| Q3 25 | -1.9% | -10.5% | ||
| Q2 25 | -0.8% | -10.2% | ||
| Q1 25 | 0.0% | -10.4% | ||
| Q4 24 | 13.2% | -3.2% | ||
| Q3 24 | 2.2% | -6.0% | ||
| Q2 24 | 2.3% | -15.0% | ||
| Q1 24 | 2.0% | 310.0% |
| Q4 25 | $-0.22 | $-0.13 | ||
| Q3 25 | $-0.13 | $-0.20 | ||
| Q2 25 | $-0.05 | $-0.19 | ||
| Q1 25 | $0.00 | $-0.19 | ||
| Q4 24 | $0.76 | $-0.34 | ||
| Q3 24 | $0.14 | $-0.13 | ||
| Q2 24 | $0.18 | $-0.24 | ||
| Q1 24 | $0.16 | $4.25 |
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 | $27.3M |
| Total DebtLower is stronger | — | $642.4M |
| Stockholders' EquityBook value | $240.7M | $880.8M |
| Total Assets | $563.6M | $1.9B |
| Debt / EquityLower = less leverage | — | 0.73× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.5M | $27.3M | ||
| Q3 25 | $1.2M | $22.6M | ||
| Q2 25 | $206.0K | $29.1M | ||
| Q1 25 | $183.0K | $87.5M | ||
| Q4 24 | $206.0K | $46.3M | ||
| Q3 24 | $178.0K | $43.1M | ||
| Q2 24 | $314.0K | $43.8M | ||
| Q1 24 | $314.0K | $389.7M |
| Q4 25 | — | $642.4M | ||
| Q3 25 | — | $535.4M | ||
| Q2 25 | — | $513.1M | ||
| Q1 25 | — | $515.8M | ||
| Q4 24 | — | $418.0M | ||
| Q3 24 | — | $345.2M | ||
| Q2 24 | — | $297.4M | ||
| Q1 24 | — | $298.7M |
| Q4 25 | $240.7M | $880.8M | ||
| Q3 25 | $244.8M | $892.7M | ||
| Q2 25 | $246.8M | $902.0M | ||
| Q1 25 | $250.0M | $910.5M | ||
| Q4 24 | $251.8M | $918.6M | ||
| Q3 24 | $238.4M | $925.4M | ||
| Q2 24 | $238.1M | $933.1M | ||
| Q1 24 | $234.0M | $871.6M |
| Q4 25 | $563.6M | $1.9B | ||
| Q3 25 | $585.6M | $1.9B | ||
| Q2 25 | $433.7M | $1.8B | ||
| Q1 25 | $447.7M | $1.8B | ||
| Q4 24 | $445.6M | $1.7B | ||
| Q3 24 | $466.0M | $1.7B | ||
| Q2 24 | $488.2M | $1.7B | ||
| Q1 24 | $499.9M | $1.4B |
| Q4 25 | — | 0.73× | ||
| Q3 25 | — | 0.60× | ||
| Q2 25 | — | 0.57× | ||
| Q1 25 | — | 0.57× | ||
| Q4 24 | — | 0.46× | ||
| Q3 24 | — | 0.37× | ||
| Q2 24 | — | 0.32× | ||
| Q1 24 | — | 0.34× |
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 | $28.8M |
| Free Cash FlowOCF − Capex | $10.2M | $-78.6M |
| FCF MarginFCF / Revenue | 7.6% | -85.8% |
| Capex IntensityCapex / Revenue | 2.4% | 117.2% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $26.9M | $-257.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $13.4M | $28.8M | ||
| Q3 25 | $1.9M | $30.7M | ||
| Q2 25 | $15.0M | $20.9M | ||
| Q1 25 | $8.3M | $20.5M | ||
| Q4 24 | $38.0M | $20.6M | ||
| Q3 24 | $17.9M | $24.3M | ||
| Q2 24 | $23.3M | $2.5M | ||
| Q1 24 | $10.6M | $15.2M |
| Q4 25 | $10.2M | $-78.6M | ||
| Q3 25 | $-1.1M | $-51.4M | ||
| Q2 25 | $12.5M | $-65.3M | ||
| Q1 25 | $5.4M | $-62.7M | ||
| Q4 24 | $35.6M | $-72.0M | ||
| Q3 24 | $15.1M | $-51.3M | ||
| Q2 24 | $19.2M | $-78.3M | ||
| Q1 24 | $7.8M | $-54.9M |
| Q4 25 | 7.6% | -85.8% | ||
| Q3 25 | -0.8% | -57.2% | ||
| Q2 25 | 9.5% | -73.7% | ||
| Q1 25 | 4.0% | -71.3% | ||
| Q4 24 | 29.4% | -84.3% | ||
| Q3 24 | 11.1% | -58.5% | ||
| Q2 24 | 11.7% | -91.3% | ||
| Q1 24 | 4.9% | -79.3% |
| Q4 25 | 2.4% | 117.2% | ||
| Q3 25 | 2.1% | 91.4% | ||
| Q2 25 | 1.8% | 97.3% | ||
| Q1 25 | 2.2% | 94.7% | ||
| Q4 24 | 1.9% | 108.4% | ||
| Q3 24 | 2.1% | 86.2% | ||
| Q2 24 | 2.5% | 94.2% | ||
| Q1 24 | 1.7% | 101.2% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 416.65× | — | ||
| Q4 24 | 2.38× | — | ||
| Q3 24 | 6.03× | — | ||
| Q2 24 | 6.15× | — | ||
| Q1 24 | 3.28× | 0.07× |
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% |
SHEN
| Residential And SMB Incumbent Broadband | $41.5M | 45% |
| Residential And SMB Glo Fiber Expansion Markets | $23.0M | 25% |
| Commercial Fiber | $20.3M | 22% |
| RLEC Other | $6.8M | 7% |
