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Side-by-side financial comparison of Mayville Engineering Company, Inc. (MEC) and Tecnoglass Inc. (TGLS). Click either name above to swap in a different company.
Tecnoglass Inc. is the larger business by last-quarter revenue ($245.3M vs $134.3M, roughly 1.8× Mayville Engineering Company, Inc.). Tecnoglass Inc. runs the higher net margin — 10.6% vs -3.2%, a 13.9% gap on every dollar of revenue. On growth, Mayville Engineering Company, Inc. posted the faster year-over-year revenue change (10.7% vs 2.4%). Tecnoglass Inc. produced more free cash flow last quarter ($11.4M vs $10.2M). Over the past eight quarters, Tecnoglass Inc.'s revenue compounded faster (12.8% 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.
Tecnoglass Inc. is a leading manufacturer of high-performance architectural glass, aluminum windows, doors, and associated building components. It primarily caters to residential and commercial construction sectors across North America and Latin America, offering custom, energy-efficient solutions for new construction and renovation projects.
MEC vs TGLS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $134.3M | $245.3M |
| Net Profit | $-4.4M | $26.1M |
| Gross Margin | 6.8% | 40.0% |
| Operating Margin | -4.1% | 18.3% |
| Net Margin | -3.2% | 10.6% |
| Revenue YoY | 10.7% | 2.4% |
| Net Profit YoY | -127.3% | -44.5% |
| EPS (diluted) | $-0.22 | $0.57 |
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 | $245.3M | ||
| Q3 25 | $144.3M | $260.5M | ||
| Q2 25 | $132.3M | $255.5M | ||
| Q1 25 | $135.6M | $222.3M | ||
| Q4 24 | $121.3M | $239.6M | ||
| Q3 24 | $135.4M | $238.3M | ||
| Q2 24 | $163.6M | $219.7M | ||
| Q1 24 | $161.3M | $192.6M |
| Q4 25 | $-4.4M | $26.1M | ||
| Q3 25 | $-2.7M | $47.2M | ||
| Q2 25 | $-1.1M | $44.1M | ||
| Q1 25 | $20.0K | $42.2M | ||
| Q4 24 | $16.0M | $47.0M | ||
| Q3 24 | $3.0M | $49.5M | ||
| Q2 24 | $3.8M | $35.0M | ||
| Q1 24 | $3.2M | $29.7M |
| Q4 25 | 6.8% | 40.0% | ||
| Q3 25 | 11.0% | 42.7% | ||
| Q2 25 | 10.3% | 44.7% | ||
| Q1 25 | 11.3% | 43.9% | ||
| Q4 24 | 8.9% | 44.5% | ||
| Q3 24 | 12.6% | 45.8% | ||
| Q2 24 | 13.6% | 40.8% | ||
| Q1 24 | 13.0% | 38.8% |
| Q4 25 | -4.1% | 18.3% | ||
| Q3 25 | 0.0% | 25.1% | ||
| Q2 25 | 0.1% | 24.0% | ||
| Q1 25 | 1.2% | 26.7% | ||
| Q4 24 | 19.0% | 28.0% | ||
| Q3 24 | 4.2% | 28.4% | ||
| Q2 24 | 5.0% | 23.3% | ||
| Q1 24 | 4.7% | 21.3% |
| Q4 25 | -3.2% | 10.6% | ||
| Q3 25 | -1.9% | 18.1% | ||
| Q2 25 | -0.8% | 17.3% | ||
| Q1 25 | 0.0% | 19.0% | ||
| Q4 24 | 13.2% | 19.6% | ||
| Q3 24 | 2.2% | 20.8% | ||
| Q2 24 | 2.3% | 15.9% | ||
| Q1 24 | 2.0% | 15.4% |
| Q4 25 | $-0.22 | $0.57 | ||
| Q3 25 | $-0.13 | $1.01 | ||
| Q2 25 | $-0.05 | $0.94 | ||
| Q1 25 | $0.00 | $0.90 | ||
| Q4 24 | $0.76 | $1.00 | ||
| Q3 24 | $0.14 | $1.05 | ||
| Q2 24 | $0.18 | $0.75 | ||
| Q1 24 | $0.16 | $0.63 |
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 | $104.1M |
| Total DebtLower is stronger | — | $174.4M |
| Stockholders' EquityBook value | $240.7M | $713.1M |
| Total Assets | $563.6M | $1.3B |
| Debt / EquityLower = less leverage | — | 0.24× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.5M | $104.1M | ||
| Q3 25 | $1.2M | $127.1M | ||
| Q2 25 | $206.0K | $140.9M | ||
| Q1 25 | $183.0K | $160.2M | ||
| Q4 24 | $206.0K | $137.5M | ||
| Q3 24 | $178.0K | $124.8M | ||
| Q2 24 | $314.0K | $129.5M | ||
| Q1 24 | $314.0K | $138.8M |
| Q4 25 | — | $174.4M | ||
| Q3 25 | — | $114.7M | ||
| Q2 25 | — | $110.6M | ||
| Q1 25 | — | $110.6M | ||
| Q4 24 | — | $111.1M | ||
| Q3 24 | — | $126.8M | ||
| Q2 24 | — | $144.7M | ||
| Q1 24 | — | $160.9M |
| Q4 25 | $240.7M | $713.1M | ||
| Q3 25 | $244.8M | $764.0M | ||
| Q2 25 | $246.8M | $736.0M | ||
| Q1 25 | $250.0M | $685.1M | ||
| Q4 24 | $251.8M | $631.2M | ||
| Q3 24 | $238.4M | $613.3M | ||
| Q2 24 | $238.1M | $574.8M | ||
| Q1 24 | $234.0M | $573.6M |
| Q4 25 | $563.6M | $1.3B | ||
| Q3 25 | $585.6M | $1.2B | ||
| Q2 25 | $433.7M | $1.2B | ||
| Q1 25 | $447.7M | $1.1B | ||
| Q4 24 | $445.6M | $1.0B | ||
| Q3 24 | $466.0M | $996.3M | ||
| Q2 24 | $488.2M | $942.5M | ||
| Q1 24 | $499.9M | $981.6M |
| Q4 25 | — | 0.24× | ||
| Q3 25 | — | 0.15× | ||
| Q2 25 | — | 0.15× | ||
| Q1 25 | — | 0.16× | ||
| Q4 24 | — | 0.18× | ||
| Q3 24 | — | 0.21× | ||
| Q2 24 | — | 0.25× | ||
| Q1 24 | — | 0.28× |
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 | $31.0M |
| Free Cash FlowOCF − Capex | $10.2M | $11.4M |
| FCF MarginFCF / Revenue | 7.6% | 4.7% |
| Capex IntensityCapex / Revenue | 2.4% | 8.0% |
| Cash ConversionOCF / Net Profit | — | 1.19× |
| TTM Free Cash FlowTrailing 4 quarters | $26.9M | $34.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $13.4M | $31.0M | ||
| Q3 25 | $1.9M | $40.0M | ||
| Q2 25 | $15.0M | $17.9M | ||
| Q1 25 | $8.3M | $46.9M | ||
| Q4 24 | $38.0M | $61.1M | ||
| Q3 24 | $17.9M | $41.5M | ||
| Q2 24 | $23.3M | $34.5M | ||
| Q1 24 | $10.6M | $33.4M |
| Q4 25 | $10.2M | $11.4M | ||
| Q3 25 | $-1.1M | $21.2M | ||
| Q2 25 | $12.5M | $-14.7M | ||
| Q1 25 | $5.4M | $16.5M | ||
| Q4 24 | $35.6M | $35.4M | ||
| Q3 24 | $15.1M | $17.8M | ||
| Q2 24 | $19.2M | $14.2M | ||
| Q1 24 | $7.8M | $23.6M |
| Q4 25 | 7.6% | 4.7% | ||
| Q3 25 | -0.8% | 8.2% | ||
| Q2 25 | 9.5% | -5.7% | ||
| Q1 25 | 4.0% | 7.4% | ||
| Q4 24 | 29.4% | 14.8% | ||
| Q3 24 | 11.1% | 7.5% | ||
| Q2 24 | 11.7% | 6.5% | ||
| Q1 24 | 4.9% | 12.2% |
| Q4 25 | 2.4% | 8.0% | ||
| Q3 25 | 2.1% | 7.2% | ||
| Q2 25 | 1.8% | 12.7% | ||
| Q1 25 | 2.2% | 13.7% | ||
| Q4 24 | 1.9% | 10.7% | ||
| Q3 24 | 2.1% | 9.9% | ||
| Q2 24 | 2.5% | 9.2% | ||
| Q1 24 | 1.7% | 5.1% |
| Q4 25 | — | 1.19× | ||
| Q3 25 | — | 0.85× | ||
| Q2 25 | — | 0.41× | ||
| Q1 25 | 416.65× | 1.11× | ||
| Q4 24 | 2.38× | 1.30× | ||
| Q3 24 | 6.03× | 0.84× | ||
| Q2 24 | 6.15× | 0.98× | ||
| Q1 24 | 3.28× | 1.13× |
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% |
TGLS
| Product Sales | $164.2M | 67% |
| Fixed Price Contracts | $81.1M | 33% |
| Related Party | $692.0K | 0% |
