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Side-by-side financial comparison of Mayville Engineering Company, Inc. (MEC) and Terreno Realty Corp (TRNO). Click either name above to swap in a different company.
Terreno Realty Corp is the larger business by last-quarter revenue ($137.5M vs $134.3M, roughly 1.0× Mayville Engineering Company, Inc.). Terreno Realty Corp runs the higher net margin — 115.1% vs -3.2%, a 118.3% gap on every dollar of revenue. On growth, Terreno Realty Corp posted the faster year-over-year revenue change (32.6% vs 10.7%). Over the past eight quarters, Terreno Realty Corp's revenue compounded faster (27.2% 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.
Terreno Realty Corp is a publicly traded real estate investment trust that specializes in owning, operating, and acquiring high-quality industrial real estate assets. Its portfolio mainly includes distribution warehouses and logistics facilities located in high-demand coastal U.S. metropolitan markets, serving tenants across e-commerce, last-mile delivery, retail supply chain, and light manufacturing segments.
MEC vs TRNO — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $134.3M | $137.5M |
| Net Profit | $-4.4M | $158.2M |
| Gross Margin | 6.8% | — |
| Operating Margin | -4.1% | — |
| Net Margin | -3.2% | 115.1% |
| Revenue YoY | 10.7% | 32.6% |
| Net Profit YoY | -127.3% | 107.9% |
| EPS (diluted) | $-0.22 | $1.54 |
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 | $137.5M | ||
| Q3 25 | $144.3M | $116.2M | ||
| Q2 25 | $132.3M | $112.2M | ||
| Q1 25 | $135.6M | $110.4M | ||
| Q4 24 | $121.3M | $103.7M | ||
| Q3 24 | $135.4M | $99.6M | ||
| Q2 24 | $163.6M | $94.2M | ||
| Q1 24 | $161.3M | $85.0M |
| Q4 25 | $-4.4M | $158.2M | ||
| Q3 25 | $-2.7M | $103.4M | ||
| Q2 25 | $-1.1M | $93.3M | ||
| Q1 25 | $20.0K | $48.1M | ||
| Q4 24 | $16.0M | $76.1M | ||
| Q3 24 | $3.0M | $36.6M | ||
| Q2 24 | $3.8M | $35.7M | ||
| Q1 24 | $3.2M | $36.1M |
| 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% | — | ||
| Q3 25 | 0.0% | — | ||
| Q2 25 | 0.1% | — | ||
| Q1 25 | 1.2% | — | ||
| Q4 24 | 19.0% | — | ||
| Q3 24 | 4.2% | — | ||
| Q2 24 | 5.0% | — | ||
| Q1 24 | 4.7% | — |
| Q4 25 | -3.2% | 115.1% | ||
| Q3 25 | -1.9% | 88.9% | ||
| Q2 25 | -0.8% | 83.1% | ||
| Q1 25 | 0.0% | 43.6% | ||
| Q4 24 | 13.2% | 73.4% | ||
| Q3 24 | 2.2% | 36.8% | ||
| Q2 24 | 2.3% | 37.9% | ||
| Q1 24 | 2.0% | 42.4% |
| Q4 25 | $-0.22 | $1.54 | ||
| Q3 25 | $-0.13 | $1.00 | ||
| Q2 25 | $-0.05 | $0.90 | ||
| Q1 25 | $0.00 | $0.47 | ||
| Q4 24 | $0.76 | $0.78 | ||
| Q3 24 | $0.14 | $0.37 | ||
| Q2 24 | $0.18 | $0.37 | ||
| Q1 24 | $0.16 | $0.40 |
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 | $25.0M |
| Total DebtLower is stronger | — | $943.3M |
| Stockholders' EquityBook value | $240.7M | $4.1B |
| Total Assets | $563.6M | $5.4B |
| Debt / EquityLower = less leverage | — | 0.23× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.5M | $25.0M | ||
| Q3 25 | $1.2M | $26.2M | ||
| Q2 25 | $206.0K | $128.4M | ||
| Q1 25 | $183.0K | $156.5M | ||
| Q4 24 | $206.0K | $18.1M | ||
| Q3 24 | $178.0K | $243.7M | ||
| Q2 24 | $314.0K | $182.0M | ||
| Q1 24 | $314.0K | $649.6M |
| Q4 25 | — | $943.3M | ||
| Q3 25 | — | $1.0B | ||
| Q2 25 | — | $742.4M | ||
| Q1 25 | — | $741.9M | ||
| Q4 24 | — | $823.4M | ||
| Q3 24 | — | $672.2M | ||
| Q2 24 | — | $772.0M | ||
| Q1 24 | — | $771.8M |
| Q4 25 | $240.7M | $4.1B | ||
| Q3 25 | $244.8M | $4.0B | ||
| Q2 25 | $246.8M | $3.9B | ||
| Q1 25 | $250.0M | $3.9B | ||
| Q4 24 | $251.8M | $3.7B | ||
| Q3 24 | $238.4M | $3.6B | ||
| Q2 24 | $238.1M | $3.4B | ||
| Q1 24 | $234.0M | $3.4B |
| Q4 25 | $563.6M | $5.4B | ||
| Q3 25 | $585.6M | $5.3B | ||
| Q2 25 | $433.7M | $5.0B | ||
| Q1 25 | $447.7M | $4.9B | ||
| Q4 24 | $445.6M | $4.8B | ||
| Q3 24 | $466.0M | $4.6B | ||
| Q2 24 | $488.2M | $4.5B | ||
| Q1 24 | $499.9M | $4.4B |
| Q4 25 | — | 0.23× | ||
| Q3 25 | — | 0.26× | ||
| Q2 25 | — | 0.19× | ||
| Q1 25 | — | 0.19× | ||
| Q4 24 | — | 0.22× | ||
| Q3 24 | — | 0.19× | ||
| Q2 24 | — | 0.22× | ||
| Q1 24 | — | 0.22× |
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 | $271.9M |
| Free Cash FlowOCF − Capex | $10.2M | — |
| FCF MarginFCF / Revenue | 7.6% | — |
| Capex IntensityCapex / Revenue | 2.4% | — |
| Cash ConversionOCF / Net Profit | — | 1.72× |
| TTM Free Cash FlowTrailing 4 quarters | $26.9M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $13.4M | $271.9M | ||
| Q3 25 | $1.9M | $79.5M | ||
| Q2 25 | $15.0M | $60.6M | ||
| Q1 25 | $8.3M | $61.4M | ||
| Q4 24 | $38.0M | $232.7M | ||
| Q3 24 | $17.9M | $70.0M | ||
| Q2 24 | $23.3M | $64.3M | ||
| Q1 24 | $10.6M | $47.0M |
| Q4 25 | $10.2M | — | ||
| Q3 25 | $-1.1M | — | ||
| Q2 25 | $12.5M | — | ||
| Q1 25 | $5.4M | — | ||
| Q4 24 | $35.6M | — | ||
| Q3 24 | $15.1M | — | ||
| Q2 24 | $19.2M | — | ||
| Q1 24 | $7.8M | — |
| Q4 25 | 7.6% | — | ||
| Q3 25 | -0.8% | — | ||
| Q2 25 | 9.5% | — | ||
| Q1 25 | 4.0% | — | ||
| Q4 24 | 29.4% | — | ||
| Q3 24 | 11.1% | — | ||
| Q2 24 | 11.7% | — | ||
| Q1 24 | 4.9% | — |
| Q4 25 | 2.4% | — | ||
| Q3 25 | 2.1% | — | ||
| Q2 25 | 1.8% | — | ||
| Q1 25 | 2.2% | — | ||
| Q4 24 | 1.9% | — | ||
| Q3 24 | 2.1% | — | ||
| Q2 24 | 2.5% | — | ||
| Q1 24 | 1.7% | — |
| Q4 25 | — | 1.72× | ||
| Q3 25 | — | 0.77× | ||
| Q2 25 | — | 0.65× | ||
| Q1 25 | 416.65× | 1.28× | ||
| Q4 24 | 2.38× | 3.06× | ||
| Q3 24 | 6.03× | 1.91× | ||
| Q2 24 | 6.15× | 1.80× | ||
| Q1 24 | 3.28× | 1.30× |
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% |
TRNO
| Disposal Group Disposed Of By Sale Not Discontinued Operations | $109.5M | 80% |
| Other | $23.8M | 17% |
| At Market Equity Offering Program500Million | $4.1M | 3% |
