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Side-by-side financial comparison of Mayville Engineering Company, Inc. (MEC) and Wingstop Inc. (WING). Click either name above to swap in a different company.
Wingstop Inc. is the larger business by last-quarter revenue ($183.7M vs $134.3M, roughly 1.4× Mayville Engineering Company, Inc.). Wingstop Inc. runs the higher net margin — 16.3% vs -3.2%, a 19.5% gap on every dollar of revenue. On growth, Mayville Engineering Company, Inc. posted the faster year-over-year revenue change (10.7% vs 7.4%). Over the past eight quarters, Wingstop Inc.'s revenue compounded faster (8.6% 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.
Wingstop Inc. is an American international fast food chain that primarily sells buffalo wings. Wingstop locations are decorated with a 1930s and 1940s pre-jet aviation theme.
MEC vs WING — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $134.3M | $183.7M |
| Net Profit | $-4.4M | $29.9M |
| Gross Margin | 6.8% | 86.5% |
| Operating Margin | -4.1% | 27.4% |
| Net Margin | -3.2% | 16.3% |
| Revenue YoY | 10.7% | 7.4% |
| Net Profit YoY | -127.3% | — |
| EPS (diluted) | $-0.22 | $1.08 |
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 | — | $183.7M | ||
| Q4 25 | $134.3M | $175.7M | ||
| Q3 25 | $144.3M | $175.7M | ||
| Q2 25 | $132.3M | $174.3M | ||
| Q1 25 | $135.6M | $171.1M | ||
| Q4 24 | $121.3M | $161.8M | ||
| Q3 24 | $135.4M | $162.5M | ||
| Q2 24 | $163.6M | $155.7M |
| Q1 26 | — | $29.9M | ||
| Q4 25 | $-4.4M | $26.8M | ||
| Q3 25 | $-2.7M | $28.5M | ||
| Q2 25 | $-1.1M | $26.8M | ||
| Q1 25 | $20.0K | $92.3M | ||
| Q4 24 | $16.0M | $26.8M | ||
| Q3 24 | $3.0M | $25.7M | ||
| Q2 24 | $3.8M | $27.5M |
| Q1 26 | — | 86.5% | ||
| Q4 25 | 6.8% | — | ||
| Q3 25 | 11.0% | — | ||
| Q2 25 | 10.3% | — | ||
| Q1 25 | 11.3% | — | ||
| Q4 24 | 8.9% | 85.6% | ||
| Q3 24 | 12.6% | 85.0% | ||
| Q2 24 | 13.6% | 85.4% |
| Q1 26 | — | 27.4% | ||
| Q4 25 | -4.1% | 26.7% | ||
| Q3 25 | 0.0% | 27.9% | ||
| Q2 25 | 0.1% | 25.9% | ||
| Q1 25 | 1.2% | 22.4% | ||
| Q4 24 | 19.0% | 25.9% | ||
| Q3 24 | 4.2% | 24.5% | ||
| Q2 24 | 5.0% | 26.5% |
| Q1 26 | — | 16.3% | ||
| Q4 25 | -3.2% | 15.2% | ||
| Q3 25 | -1.9% | 16.2% | ||
| Q2 25 | -0.8% | 15.4% | ||
| Q1 25 | 0.0% | 53.9% | ||
| Q4 24 | 13.2% | 16.5% | ||
| Q3 24 | 2.2% | 15.8% | ||
| Q2 24 | 2.3% | 17.7% |
| Q1 26 | — | $1.08 | ||
| Q4 25 | $-0.22 | $0.99 | ||
| Q3 25 | $-0.13 | $1.02 | ||
| Q2 25 | $-0.05 | $0.96 | ||
| Q1 25 | $0.00 | $3.24 | ||
| Q4 24 | $0.76 | $0.91 | ||
| Q3 24 | $0.14 | $0.88 | ||
| Q2 24 | $0.18 | $0.93 |
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 | $128.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $240.7M | — |
| Total Assets | $563.6M | $648.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $128.8M | ||
| Q4 25 | $1.5M | $196.6M | ||
| Q3 25 | $1.2M | $237.6M | ||
| Q2 25 | $206.0K | $227.9M | ||
| Q1 25 | $183.0K | $251.4M | ||
| Q4 24 | $206.0K | $315.9M | ||
| Q3 24 | $178.0K | $84.0M | ||
| Q2 24 | $314.0K | $96.7M |
| Q1 26 | — | — | ||
| Q4 25 | — | $1.2B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $1.2B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | $240.7M | $-736.8M | ||
| Q3 25 | $244.8M | $-702.6M | ||
| Q2 25 | $246.8M | $-686.0M | ||
| Q1 25 | $250.0M | $-715.0M | ||
| Q4 24 | $251.8M | $-675.6M | ||
| Q3 24 | $238.4M | $-447.5M | ||
| Q2 24 | $238.1M | $-437.5M |
| Q1 26 | — | $648.9M | ||
| Q4 25 | $563.6M | $693.4M | ||
| Q3 25 | $585.6M | $721.0M | ||
| Q2 25 | $433.7M | $708.3M | ||
| Q1 25 | $447.7M | $696.8M | ||
| Q4 24 | $445.6M | $716.2M | ||
| Q3 24 | $466.0M | $484.8M | ||
| Q2 24 | $488.2M | $451.8M |
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 | $57.3M | ||
| Q3 25 | $1.9M | $63.9M | ||
| Q2 25 | $15.0M | $6.6M | ||
| Q1 25 | $8.3M | $25.3M | ||
| Q4 24 | $38.0M | $7.7M | ||
| Q3 24 | $17.9M | $69.0M | ||
| Q2 24 | $23.3M | $36.2M |
| Q1 26 | — | — | ||
| Q4 25 | $10.2M | $34.5M | ||
| Q3 25 | $-1.1M | $61.7M | ||
| Q2 25 | $12.5M | $-7.8M | ||
| Q1 25 | $5.4M | $17.3M | ||
| Q4 24 | $35.6M | $-8.6M | ||
| Q3 24 | $15.1M | $54.9M | ||
| Q2 24 | $19.2M | $25.9M |
| Q1 26 | — | — | ||
| Q4 25 | 7.6% | 19.6% | ||
| Q3 25 | -0.8% | 35.1% | ||
| Q2 25 | 9.5% | -4.5% | ||
| Q1 25 | 4.0% | 10.1% | ||
| Q4 24 | 29.4% | -5.3% | ||
| Q3 24 | 11.1% | 33.8% | ||
| Q2 24 | 11.7% | 16.6% |
| Q1 26 | — | — | ||
| Q4 25 | 2.4% | 13.0% | ||
| Q3 25 | 2.1% | 1.3% | ||
| Q2 25 | 1.8% | 8.2% | ||
| Q1 25 | 2.2% | 4.7% | ||
| Q4 24 | 1.9% | 10.1% | ||
| Q3 24 | 2.1% | 8.7% | ||
| Q2 24 | 2.5% | 6.6% |
| Q1 26 | — | — | ||
| Q4 25 | — | 2.14× | ||
| Q3 25 | — | 2.24× | ||
| Q2 25 | — | 0.25× | ||
| Q1 25 | 416.65× | 0.27× | ||
| Q4 24 | 2.38× | 0.29× | ||
| Q3 24 | 6.03× | 2.68× | ||
| Q2 24 | 6.15× | 1.32× |
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% |
WING
| Royalty revenue, franchise fees and other | $87.5M | 48% |
| Advertising fees | $63.3M | 34% |
| Company-owned restaurant sales | $33.0M | 18% |
