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Side-by-side financial comparison of Mayville Engineering Company, Inc. (MEC) and ONE Group Hospitality, Inc. (STKS). Click either name above to swap in a different company.
ONE Group Hospitality, Inc. is the larger business by last-quarter revenue ($207.0M vs $134.3M, roughly 1.5× Mayville Engineering Company, Inc.). ONE Group Hospitality, Inc. runs the higher net margin — -3.1% vs -3.2%, a 0.2% gap on every dollar of revenue. On growth, Mayville Engineering Company, Inc. posted the faster year-over-year revenue change (10.7% vs -6.7%). Mayville Engineering Company, Inc. produced more free cash flow last quarter ($10.2M vs $-329.0K). Over the past eight quarters, ONE Group Hospitality, Inc.'s revenue compounded faster (56.1% 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.
Target Hospitality is a company that provides workforce lodging and other temporary, modular housing used for oil, gas and mining operations; large-scale events; and disaster relief. Target Hospitality is based in The Woodlands, Texas, and also has offices in Williston, North Dakota; Denver, Colorado; Calgary, Alberta.
MEC vs STKS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $134.3M | $207.0M |
| Net Profit | $-4.4M | $-6.4M |
| Gross Margin | 6.8% | — |
| Operating Margin | -4.1% | 2.2% |
| Net Margin | -3.2% | -3.1% |
| Revenue YoY | 10.7% | -6.7% |
| Net Profit YoY | -127.3% | -531.8% |
| EPS (diluted) | $-0.22 | $-0.50 |
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 | $207.0M | ||
| Q3 25 | $144.3M | $180.2M | ||
| Q2 25 | $132.3M | $207.4M | ||
| Q1 25 | $135.6M | $211.1M | ||
| Q4 24 | $121.3M | $221.9M | ||
| Q3 24 | $135.4M | $194.0M | ||
| Q2 24 | $163.6M | $172.5M | ||
| Q1 24 | $161.3M | $85.0M |
| Q4 25 | $-4.4M | $-6.4M | ||
| Q3 25 | $-2.7M | $-76.7M | ||
| Q2 25 | $-1.1M | $-10.1M | ||
| Q1 25 | $20.0K | $975.0K | ||
| Q4 24 | $16.0M | $1.5M | ||
| Q3 24 | $3.0M | $-9.3M | ||
| Q2 24 | $3.8M | $-7.3M | ||
| Q1 24 | $3.2M | $-2.1M |
| 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% | 2.2% | ||
| Q3 25 | 0.0% | -4.4% | ||
| Q2 25 | 0.1% | 0.3% | ||
| Q1 25 | 1.2% | 5.1% | ||
| Q4 24 | 19.0% | 5.5% | ||
| Q3 24 | 4.2% | -1.9% | ||
| Q2 24 | 5.0% | 0.6% | ||
| Q1 24 | 4.7% | -0.7% |
| Q4 25 | -3.2% | -3.1% | ||
| Q3 25 | -1.9% | -42.6% | ||
| Q2 25 | -0.8% | -4.9% | ||
| Q1 25 | 0.0% | 0.5% | ||
| Q4 24 | 13.2% | 0.7% | ||
| Q3 24 | 2.2% | -4.8% | ||
| Q2 24 | 2.3% | -4.3% | ||
| Q1 24 | 2.0% | -2.4% |
| Q4 25 | $-0.22 | $-0.50 | ||
| Q3 25 | $-0.13 | $-2.75 | ||
| Q2 25 | $-0.05 | $-0.59 | ||
| Q1 25 | $0.00 | $-0.21 | ||
| Q4 24 | $0.76 | $-0.18 | ||
| Q3 24 | $0.14 | $-0.53 | ||
| Q2 24 | $0.18 | $-0.38 | ||
| Q1 24 | $0.16 | $-0.07 |
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 | $4.2M |
| Total DebtLower is stronger | — | $354.2M |
| Stockholders' EquityBook value | $240.7M | $-75.8M |
| Total Assets | $563.6M | $884.2M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.5M | $4.2M | ||
| Q3 25 | $1.2M | $5.5M | ||
| Q2 25 | $206.0K | $4.7M | ||
| Q1 25 | $183.0K | $21.4M | ||
| Q4 24 | $206.0K | $27.6M | ||
| Q3 24 | $178.0K | $28.2M | ||
| Q2 24 | $314.0K | $32.2M | ||
| Q1 24 | $314.0K | $15.4M |
| Q4 25 | — | $354.2M | ||
| Q3 25 | — | $355.0M | ||
| Q2 25 | — | $347.4M | ||
| Q1 25 | — | $348.3M | ||
| Q4 24 | — | $348.3M | ||
| Q3 24 | — | $349.1M | ||
| Q2 24 | — | $350.0M | ||
| Q1 24 | — | $73.5M |
| Q4 25 | $240.7M | $-75.8M | ||
| Q3 25 | $244.8M | $-61.5M | ||
| Q2 25 | $246.8M | $23.0M | ||
| Q1 25 | $250.0M | $40.5M | ||
| Q4 24 | $251.8M | $45.9M | ||
| Q3 24 | $238.4M | $51.4M | ||
| Q2 24 | $238.1M | $68.1M | ||
| Q1 24 | $234.0M | $68.3M |
| Q4 25 | $563.6M | $884.2M | ||
| Q3 25 | $585.6M | $879.5M | ||
| Q2 25 | $433.7M | $935.7M | ||
| Q1 25 | $447.7M | $956.0M | ||
| Q4 24 | $445.6M | $960.1M | ||
| Q3 24 | $466.0M | $953.5M | ||
| Q2 24 | $488.2M | $945.9M | ||
| Q1 24 | $499.9M | $309.3M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 15.07× | ||
| Q1 25 | — | 8.61× | ||
| Q4 24 | — | 7.59× | ||
| Q3 24 | — | 6.79× | ||
| Q2 24 | — | 5.14× | ||
| Q1 24 | — | 1.08× |
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 | $13.1M |
| Free Cash FlowOCF − Capex | $10.2M | $-329.0K |
| FCF MarginFCF / Revenue | 7.6% | -0.2% |
| Capex IntensityCapex / Revenue | 2.4% | 6.5% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $26.9M | $-27.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $13.4M | $13.1M | ||
| Q3 25 | $1.9M | $5.9M | ||
| Q2 25 | $15.0M | $2.8M | ||
| Q1 25 | $8.3M | $8.5M | ||
| Q4 24 | $38.0M | $18.5M | ||
| Q3 24 | $17.9M | $19.1M | ||
| Q2 24 | $23.3M | $-3.8M | ||
| Q1 24 | $10.6M | $10.4M |
| Q4 25 | $10.2M | $-329.0K | ||
| Q3 25 | $-1.1M | $-6.1M | ||
| Q2 25 | $12.5M | $-15.0M | ||
| Q1 25 | $5.4M | $-5.8M | ||
| Q4 24 | $35.6M | $733.0K | ||
| Q3 24 | $15.1M | $287.0K | ||
| Q2 24 | $19.2M | $-23.0M | ||
| Q1 24 | $7.8M | $-5.4M |
| Q4 25 | 7.6% | -0.2% | ||
| Q3 25 | -0.8% | -3.4% | ||
| Q2 25 | 9.5% | -7.2% | ||
| Q1 25 | 4.0% | -2.7% | ||
| Q4 24 | 29.4% | 0.3% | ||
| Q3 24 | 11.1% | 0.1% | ||
| Q2 24 | 11.7% | -13.3% | ||
| Q1 24 | 4.9% | -6.4% |
| Q4 25 | 2.4% | 6.5% | ||
| Q3 25 | 2.1% | 6.7% | ||
| Q2 25 | 1.8% | 8.6% | ||
| Q1 25 | 2.2% | 6.8% | ||
| Q4 24 | 1.9% | 8.0% | ||
| Q3 24 | 2.1% | 9.7% | ||
| Q2 24 | 2.5% | 11.1% | ||
| Q1 24 | 1.7% | 18.6% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 416.65× | 8.76× | ||
| Q4 24 | 2.38× | 12.54× | ||
| Q3 24 | 6.03× | — | ||
| Q2 24 | 6.15× | — | ||
| 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% |
STKS
| Benihanas | $111.3M | 54% |
| Steakhouse Restaurant | $59.2M | 29% |
| Grill Concepts | $32.3M | 16% |
| Other | $4.2M | 2% |
