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Side-by-side financial comparison of Mayville Engineering Company, Inc. (MEC) and WORKIVA INC (WK). Click either name above to swap in a different company.
WORKIVA INC is the larger business by last-quarter revenue ($238.9M vs $134.3M, roughly 1.8× Mayville Engineering Company, Inc.). WORKIVA INC runs the higher net margin — 4.9% vs -3.2%, a 8.2% gap on every dollar of revenue. On growth, WORKIVA INC posted the faster year-over-year revenue change (19.5% vs 10.7%). WORKIVA INC produced more free cash flow last quarter ($50.7M vs $10.2M). Over the past eight quarters, WORKIVA INC's revenue compounded faster (16.6% 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.
Workiva, Inc. is a global software-as-a-service (SaaS) company. It provides a cloud-based connected and reporting compliance platform that enables the use of connected data and automation of reporting across finance, accounting, risk, and compliance.
MEC vs WK — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $134.3M | $238.9M |
| Net Profit | $-4.4M | $11.8M |
| Gross Margin | 6.8% | 80.7% |
| Operating Margin | -4.1% | 3.3% |
| Net Margin | -3.2% | 4.9% |
| Revenue YoY | 10.7% | 19.5% |
| Net Profit YoY | -127.3% | 234.0% |
| EPS (diluted) | $-0.22 | $0.21 |
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 | $238.9M | ||
| Q3 25 | $144.3M | $224.2M | ||
| Q2 25 | $132.3M | $215.2M | ||
| Q1 25 | $135.6M | $206.3M | ||
| Q4 24 | $121.3M | $199.9M | ||
| Q3 24 | $135.4M | $185.6M | ||
| Q2 24 | $163.6M | $177.5M | ||
| Q1 24 | $161.3M | $175.7M |
| Q4 25 | $-4.4M | $11.8M | ||
| Q3 25 | $-2.7M | $2.8M | ||
| Q2 25 | $-1.1M | $-19.4M | ||
| Q1 25 | $20.0K | $-21.4M | ||
| Q4 24 | $16.0M | $-8.8M | ||
| Q3 24 | $3.0M | $-17.0M | ||
| Q2 24 | $3.8M | $-17.5M | ||
| Q1 24 | $3.2M | $-11.7M |
| Q4 25 | 6.8% | 80.7% | ||
| Q3 25 | 11.0% | 79.3% | ||
| Q2 25 | 10.3% | 77.0% | ||
| Q1 25 | 11.3% | 76.6% | ||
| Q4 24 | 8.9% | 77.1% | ||
| Q3 24 | 12.6% | 76.5% | ||
| Q2 24 | 13.6% | 76.8% | ||
| Q1 24 | 13.0% | 76.4% |
| Q4 25 | -4.1% | 3.3% | ||
| Q3 25 | 0.0% | -1.5% | ||
| Q2 25 | 0.1% | -10.3% | ||
| Q1 25 | 1.2% | -12.0% | ||
| Q4 24 | 19.0% | -6.7% | ||
| Q3 24 | 4.2% | -11.7% | ||
| Q2 24 | 5.0% | -13.0% | ||
| Q1 24 | 4.7% | -10.4% |
| Q4 25 | -3.2% | 4.9% | ||
| Q3 25 | -1.9% | 1.2% | ||
| Q2 25 | -0.8% | -9.0% | ||
| Q1 25 | 0.0% | -10.4% | ||
| Q4 24 | 13.2% | -4.4% | ||
| Q3 24 | 2.2% | -9.2% | ||
| Q2 24 | 2.3% | -9.9% | ||
| Q1 24 | 2.0% | -6.7% |
| Q4 25 | $-0.22 | $0.21 | ||
| Q3 25 | $-0.13 | $0.05 | ||
| Q2 25 | $-0.05 | $-0.35 | ||
| Q1 25 | $0.00 | $-0.38 | ||
| Q4 24 | $0.76 | $-0.15 | ||
| Q3 24 | $0.14 | $-0.31 | ||
| Q2 24 | $0.18 | $-0.32 | ||
| Q1 24 | $0.16 | $-0.21 |
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 | $338.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $240.7M | $-5.4M |
| Total Assets | $563.6M | $1.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.5M | $338.8M | ||
| Q3 25 | $1.2M | $315.9M | ||
| Q2 25 | $206.0K | $284.3M | ||
| Q1 25 | $183.0K | $242.0M | ||
| Q4 24 | $206.0K | $301.8M | ||
| Q3 24 | $178.0K | $248.2M | ||
| Q2 24 | $314.0K | $267.9M | ||
| Q1 24 | $314.0K | $296.1M |
| Q4 25 | $240.7M | $-5.4M | ||
| Q3 25 | $244.8M | $-36.9M | ||
| Q2 25 | $246.8M | $-66.5M | ||
| Q1 25 | $250.0M | $-75.7M | ||
| Q4 24 | $251.8M | $-41.7M | ||
| Q3 24 | $238.4M | $-50.8M | ||
| Q2 24 | $238.1M | $-77.7M | ||
| Q1 24 | $234.0M | $-83.2M |
| Q4 25 | $563.6M | $1.5B | ||
| Q3 25 | $585.6M | $1.4B | ||
| Q2 25 | $433.7M | $1.3B | ||
| Q1 25 | $447.7M | $1.3B | ||
| Q4 24 | $445.6M | $1.4B | ||
| Q3 24 | $466.0M | $1.3B | ||
| Q2 24 | $488.2M | $1.2B | ||
| Q1 24 | $499.9M | $1.2B |
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 | $51.0M |
| Free Cash FlowOCF − Capex | $10.2M | $50.7M |
| FCF MarginFCF / Revenue | 7.6% | 21.2% |
| Capex IntensityCapex / Revenue | 2.4% | 0.1% |
| Cash ConversionOCF / Net Profit | — | 4.31× |
| TTM Free Cash FlowTrailing 4 quarters | $26.9M | $138.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $13.4M | $51.0M | ||
| Q3 25 | $1.9M | $46.2M | ||
| Q2 25 | $15.0M | $50.3M | ||
| Q1 25 | $8.3M | $-7.4M | ||
| Q4 24 | $38.0M | $44.0M | ||
| Q3 24 | $17.9M | $18.9M | ||
| Q2 24 | $23.3M | $-14.0K | ||
| Q1 24 | $10.6M | $24.8M |
| Q4 25 | $10.2M | $50.7M | ||
| Q3 25 | $-1.1M | $46.1M | ||
| Q2 25 | $12.5M | $49.3M | ||
| Q1 25 | $5.4M | $-8.1M | ||
| Q4 24 | $35.6M | $43.2M | ||
| Q3 24 | $15.1M | $18.7M | ||
| Q2 24 | $19.2M | $-122.0K | ||
| Q1 24 | $7.8M | $24.6M |
| Q4 25 | 7.6% | 21.2% | ||
| Q3 25 | -0.8% | 20.5% | ||
| Q2 25 | 9.5% | 22.9% | ||
| Q1 25 | 4.0% | -3.9% | ||
| Q4 24 | 29.4% | 21.6% | ||
| Q3 24 | 11.1% | 10.1% | ||
| Q2 24 | 11.7% | -0.1% | ||
| Q1 24 | 4.9% | 14.0% |
| Q4 25 | 2.4% | 0.1% | ||
| Q3 25 | 2.1% | 0.0% | ||
| Q2 25 | 1.8% | 0.5% | ||
| Q1 25 | 2.2% | 0.4% | ||
| Q4 24 | 1.9% | 0.4% | ||
| Q3 24 | 2.1% | 0.1% | ||
| Q2 24 | 2.5% | 0.1% | ||
| Q1 24 | 1.7% | 0.1% |
| Q4 25 | — | 4.31× | ||
| Q3 25 | — | 16.57× | ||
| Q2 25 | — | — | ||
| Q1 25 | 416.65× | — | ||
| Q4 24 | 2.38× | — | ||
| Q3 24 | 6.03× | — | ||
| Q2 24 | 6.15× | — | ||
| 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% |
WK
| License And Service | $219.3M | 92% |
| XBRL Professional Services | $16.4M | 7% |
| Other Services | $3.2M | 1% |
