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Side-by-side financial comparison of Mayville Engineering Company, Inc. (MEC) and TACTILE SYSTEMS TECHNOLOGY INC (TCMD). 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 $103.6M, roughly 1.3× TACTILE SYSTEMS TECHNOLOGY INC). TACTILE SYSTEMS TECHNOLOGY INC runs the higher net margin — 10.3% vs -3.2%, a 13.5% gap on every dollar of revenue. On growth, TACTILE SYSTEMS TECHNOLOGY INC posted the faster year-over-year revenue change (21.0% vs 10.7%). TACTILE SYSTEMS TECHNOLOGY INC produced more free cash flow last quarter ($16.8M vs $10.2M). Over the past eight quarters, TACTILE SYSTEMS TECHNOLOGY INC's revenue compounded faster (30.2% 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.
Dominion Voting Systems Corporation was a North American company that produced and sold electronic voting hardware and software, including voting machines and tabulators, in Canada and the United States.
MEC vs TCMD — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $134.3M | $103.6M |
| Net Profit | $-4.4M | $10.6M |
| Gross Margin | 6.8% | 78.2% |
| Operating Margin | -4.1% | 18.1% |
| Net Margin | -3.2% | 10.3% |
| Revenue YoY | 10.7% | 21.0% |
| Net Profit YoY | -127.3% | 9.4% |
| EPS (diluted) | $-0.22 | $0.45 |
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 | $103.6M | ||
| Q3 25 | $144.3M | $85.8M | ||
| Q2 25 | $132.3M | $78.9M | ||
| Q1 25 | $135.6M | $61.3M | ||
| Q4 24 | $121.3M | $85.6M | ||
| Q3 24 | $135.4M | $73.1M | ||
| Q2 24 | $163.6M | $73.2M | ||
| Q1 24 | $161.3M | $61.1M |
| Q4 25 | $-4.4M | $10.6M | ||
| Q3 25 | $-2.7M | $8.2M | ||
| Q2 25 | $-1.1M | $3.2M | ||
| Q1 25 | $20.0K | $-3.0M | ||
| Q4 24 | $16.0M | $9.7M | ||
| Q3 24 | $3.0M | $5.2M | ||
| Q2 24 | $3.8M | $4.3M | ||
| Q1 24 | $3.2M | $-2.2M |
| Q4 25 | 6.8% | 78.2% | ||
| Q3 25 | 11.0% | 75.8% | ||
| Q2 25 | 10.3% | 74.5% | ||
| Q1 25 | 11.3% | 74.0% | ||
| Q4 24 | 8.9% | 75.2% | ||
| Q3 24 | 12.6% | 75.0% | ||
| Q2 24 | 13.6% | 73.9% | ||
| Q1 24 | 13.0% | 71.1% |
| Q4 25 | -4.1% | 18.1% | ||
| Q3 25 | 0.0% | 12.8% | ||
| Q2 25 | 0.1% | 5.2% | ||
| Q1 25 | 1.2% | -7.4% | ||
| Q4 24 | 19.0% | 14.6% | ||
| Q3 24 | 4.2% | 9.3% | ||
| Q2 24 | 5.0% | 8.0% | ||
| Q1 24 | 4.7% | -4.9% |
| Q4 25 | -3.2% | 10.3% | ||
| Q3 25 | -1.9% | 9.6% | ||
| Q2 25 | -0.8% | 4.1% | ||
| Q1 25 | 0.0% | -4.9% | ||
| Q4 24 | 13.2% | 11.4% | ||
| Q3 24 | 2.2% | 7.1% | ||
| Q2 24 | 2.3% | 5.9% | ||
| Q1 24 | 2.0% | -3.6% |
| Q4 25 | $-0.22 | $0.45 | ||
| Q3 25 | $-0.13 | $0.36 | ||
| Q2 25 | $-0.05 | $0.14 | ||
| Q1 25 | $0.00 | $-0.13 | ||
| Q4 24 | $0.76 | $0.40 | ||
| Q3 24 | $0.14 | $0.21 | ||
| Q2 24 | $0.18 | $0.18 | ||
| Q1 24 | $0.16 | $-0.09 |
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 | $83.4M |
| Total DebtLower is stronger | — | $0 |
| Stockholders' EquityBook value | $240.7M | $218.9M |
| Total Assets | $563.6M | $273.9M |
| Debt / EquityLower = less leverage | — | 0.00× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.5M | $83.4M | ||
| Q3 25 | $1.2M | $66.0M | ||
| Q2 25 | $206.0K | $81.5M | ||
| Q1 25 | $183.0K | $83.6M | ||
| Q4 24 | $206.0K | $94.4M | ||
| Q3 24 | $178.0K | $82.1M | ||
| Q2 24 | $314.0K | $73.6M | ||
| Q1 24 | $314.0K | $60.7M |
| Q4 25 | — | $0 | ||
| Q3 25 | — | $0 | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $27.0M | ||
| Q2 24 | — | $27.8M | ||
| Q1 24 | — | $28.5M |
| Q4 25 | $240.7M | $218.9M | ||
| Q3 25 | $244.8M | $204.9M | ||
| Q2 25 | $246.8M | $194.9M | ||
| Q1 25 | $250.0M | $205.6M | ||
| Q4 24 | $251.8M | $216.6M | ||
| Q3 24 | $238.4M | $207.9M | ||
| Q2 24 | $238.1M | $200.7M | ||
| Q1 24 | $234.0M | $193.5M |
| Q4 25 | $563.6M | $273.9M | ||
| Q3 25 | $585.6M | $259.2M | ||
| Q2 25 | $433.7M | $273.0M | ||
| Q1 25 | $447.7M | $280.2M | ||
| Q4 24 | $445.6M | $297.9M | ||
| Q3 24 | $466.0M | $287.7M | ||
| Q2 24 | $488.2M | $278.8M | ||
| Q1 24 | $499.9M | $272.0M |
| Q4 25 | — | 0.00× | ||
| Q3 25 | — | 0.00× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.13× | ||
| Q2 24 | — | 0.14× | ||
| Q1 24 | — | 0.15× |
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 | $17.3M |
| Free Cash FlowOCF − Capex | $10.2M | $16.8M |
| FCF MarginFCF / Revenue | 7.6% | 16.2% |
| Capex IntensityCapex / Revenue | 2.4% | 0.5% |
| Cash ConversionOCF / Net Profit | — | 1.63× |
| TTM Free Cash FlowTrailing 4 quarters | $26.9M | $40.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $13.4M | $17.3M | ||
| Q3 25 | $1.9M | $10.3M | ||
| Q2 25 | $15.0M | $14.8M | ||
| Q1 25 | $8.3M | $417.0K | ||
| Q4 24 | $38.0M | $16.3M | ||
| Q3 24 | $17.9M | $10.3M | ||
| Q2 24 | $23.3M | $13.1M | ||
| Q1 24 | $10.6M | $924.0K |
| Q4 25 | $10.2M | $16.8M | ||
| Q3 25 | $-1.1M | $9.2M | ||
| Q2 25 | $12.5M | $14.4M | ||
| Q1 25 | $5.4M | $38.0K | ||
| Q4 24 | $35.6M | $15.9M | ||
| Q3 24 | $15.1M | $9.3M | ||
| Q2 24 | $19.2M | $12.6M | ||
| Q1 24 | $7.8M | $442.0K |
| Q4 25 | 7.6% | 16.2% | ||
| Q3 25 | -0.8% | 10.8% | ||
| Q2 25 | 9.5% | 18.2% | ||
| Q1 25 | 4.0% | 0.1% | ||
| Q4 24 | 29.4% | 18.5% | ||
| Q3 24 | 11.1% | 12.7% | ||
| Q2 24 | 11.7% | 17.3% | ||
| Q1 24 | 4.9% | 0.7% |
| Q4 25 | 2.4% | 0.5% | ||
| Q3 25 | 2.1% | 1.3% | ||
| Q2 25 | 1.8% | 0.5% | ||
| Q1 25 | 2.2% | 0.6% | ||
| Q4 24 | 1.9% | 0.5% | ||
| Q3 24 | 2.1% | 1.3% | ||
| Q2 24 | 2.5% | 0.7% | ||
| Q1 24 | 1.7% | 0.8% |
| Q4 25 | — | 1.63× | ||
| Q3 25 | — | 1.26× | ||
| Q2 25 | — | 4.59× | ||
| Q1 25 | 416.65× | — | ||
| Q4 24 | 2.38× | 1.68× | ||
| Q3 24 | 6.03× | 1.99× | ||
| Q2 24 | 6.15× | 3.06× | ||
| 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% |
TCMD
| Private Insurers | $57.6M | 56% |
| Medicare | $24.6M | 24% |
| Durable Medical Equipment Distributors | $14.1M | 14% |
| Veterans Administration | $7.3M | 7% |
