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Side-by-side financial comparison of Mayville Engineering Company, Inc. (MEC) and VICOR CORP (VICR). 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 $113.0M, roughly 1.2× VICOR CORP). VICOR CORP runs the higher net margin — 18.3% vs -3.2%, a 21.5% gap on every dollar of revenue. On growth, VICOR CORP posted the faster year-over-year revenue change (20.2% vs 10.7%). Over the past eight quarters, VICOR CORP's revenue compounded faster (14.7% 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.
Vicor Corporation is a manufacturer of power modules headquartered in Andover, Massachusetts.
MEC vs VICR — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $134.3M | $113.0M |
| Net Profit | $-4.4M | $20.7M |
| Gross Margin | 6.8% | — |
| Operating Margin | -4.1% | 59.7% |
| Net Margin | -3.2% | 18.3% |
| Revenue YoY | 10.7% | 20.2% |
| Net Profit YoY | -127.3% | 713.9% |
| EPS (diluted) | $-0.22 | $0.44 |
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.
| Q1 26 | — | $113.0M | ||
| Q4 25 | $134.3M | $107.3M | ||
| Q3 25 | $144.3M | $110.4M | ||
| Q2 25 | $132.3M | $96.0M | ||
| Q1 25 | $135.6M | $94.0M | ||
| Q4 24 | $121.3M | $96.2M | ||
| Q3 24 | $135.4M | $93.2M | ||
| Q2 24 | $163.6M | $85.9M |
| Q1 26 | — | $20.7M | ||
| Q4 25 | $-4.4M | $46.5M | ||
| Q3 25 | $-2.7M | $28.3M | ||
| Q2 25 | $-1.1M | $41.2M | ||
| Q1 25 | $20.0K | $2.5M | ||
| Q4 24 | $16.0M | $10.2M | ||
| Q3 24 | $3.0M | $11.6M | ||
| Q2 24 | $3.8M | $-1.2M |
| Q1 26 | — | — | ||
| Q4 25 | 6.8% | 55.4% | ||
| Q3 25 | 11.0% | 57.5% | ||
| Q2 25 | 10.3% | 95.9% | ||
| Q1 25 | 11.3% | 47.2% | ||
| Q4 24 | 8.9% | 52.4% | ||
| Q3 24 | 12.6% | 49.1% | ||
| Q2 24 | 13.6% | 49.8% |
| Q1 26 | — | 59.7% | ||
| Q4 25 | -4.1% | 14.6% | ||
| Q3 25 | 0.0% | 18.9% | ||
| Q2 25 | 0.1% | 47.3% | ||
| Q1 25 | 1.2% | -0.2% | ||
| Q4 24 | 19.0% | 9.6% | ||
| Q3 24 | 4.2% | 5.8% | ||
| Q2 24 | 5.0% | 0.2% |
| Q1 26 | — | 18.3% | ||
| Q4 25 | -3.2% | 43.4% | ||
| Q3 25 | -1.9% | 25.6% | ||
| Q2 25 | -0.8% | 42.9% | ||
| Q1 25 | 0.0% | 2.7% | ||
| Q4 24 | 13.2% | 10.7% | ||
| Q3 24 | 2.2% | 12.4% | ||
| Q2 24 | 2.3% | -1.4% |
| Q1 26 | — | $0.44 | ||
| Q4 25 | $-0.22 | $1.01 | ||
| Q3 25 | $-0.13 | $0.63 | ||
| Q2 25 | $-0.05 | $0.91 | ||
| Q1 25 | $0.00 | $0.06 | ||
| Q4 24 | $0.76 | $0.24 | ||
| Q3 24 | $0.14 | $0.26 | ||
| Q2 24 | $0.18 | $-0.03 |
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 | $404.2M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $240.7M | $754.1M |
| Total Assets | $563.6M | $804.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $404.2M | ||
| Q4 25 | $1.5M | $402.8M | ||
| Q3 25 | $1.2M | $362.4M | ||
| Q2 25 | $206.0K | $338.5M | ||
| Q1 25 | $183.0K | $296.1M | ||
| Q4 24 | $206.0K | $277.3M | ||
| Q3 24 | $178.0K | $267.6M | ||
| Q2 24 | $314.0K | $251.9M |
| Q1 26 | — | $754.1M | ||
| Q4 25 | $240.7M | $711.6M | ||
| Q3 25 | $244.8M | $630.1M | ||
| Q2 25 | $246.8M | $608.6M | ||
| Q1 25 | $250.0M | $580.3M | ||
| Q4 24 | $251.8M | $570.1M | ||
| Q3 24 | $238.4M | $554.6M | ||
| Q2 24 | $238.1M | $537.2M |
| Q1 26 | — | $804.9M | ||
| Q4 25 | $563.6M | $785.8M | ||
| Q3 25 | $585.6M | $710.2M | ||
| Q2 25 | $433.7M | $693.5M | ||
| Q1 25 | $447.7M | $665.0M | ||
| Q4 24 | $445.6M | $641.1M | ||
| Q3 24 | $466.0M | $632.8M | ||
| Q2 24 | $488.2M | $613.2M |
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 | — |
| Free Cash FlowOCF − Capex | $10.2M | — |
| FCF MarginFCF / Revenue | 7.6% | — |
| Capex IntensityCapex / Revenue | 2.4% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $26.9M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $13.4M | $15.7M | ||
| Q3 25 | $1.9M | $38.5M | ||
| Q2 25 | $15.0M | $65.2M | ||
| Q1 25 | $8.3M | $20.1M | ||
| Q4 24 | $38.0M | $10.1M | ||
| Q3 24 | $17.9M | $22.6M | ||
| Q2 24 | $23.3M | $15.6M |
| Q1 26 | — | — | ||
| Q4 25 | $10.2M | $10.2M | ||
| Q3 25 | $-1.1M | $34.5M | ||
| Q2 25 | $12.5M | $59.0M | ||
| Q1 25 | $5.4M | $15.6M | ||
| Q4 24 | $35.6M | $8.4M | ||
| Q3 24 | $15.1M | $14.1M | ||
| Q2 24 | $19.2M | $9.4M |
| Q1 26 | — | — | ||
| Q4 25 | 7.6% | 9.5% | ||
| Q3 25 | -0.8% | 31.2% | ||
| Q2 25 | 9.5% | 61.5% | ||
| Q1 25 | 4.0% | 16.6% | ||
| Q4 24 | 29.4% | 8.7% | ||
| Q3 24 | 11.1% | 15.2% | ||
| Q2 24 | 11.7% | 11.0% |
| Q1 26 | — | — | ||
| Q4 25 | 2.4% | 5.2% | ||
| Q3 25 | 2.1% | 3.6% | ||
| Q2 25 | 1.8% | 6.5% | ||
| Q1 25 | 2.2% | 4.8% | ||
| Q4 24 | 1.9% | 1.8% | ||
| Q3 24 | 2.1% | 9.1% | ||
| Q2 24 | 2.5% | 7.2% |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.34× | ||
| Q3 25 | — | 1.36× | ||
| Q2 25 | — | 1.58× | ||
| Q1 25 | 416.65× | 7.93× | ||
| Q4 24 | 2.38× | 0.99× | ||
| Q3 24 | 6.03× | 1.95× | ||
| Q2 24 | 6.15× | — |
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% |
VICR
| Product revenue | $98.0M | 87% |
| Royalty revenue | $15.0M | 13% |
