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Mayville Engineering Company, Inc.（MEC）与Target Hospitality Corp.（TH）财务数据对比。点击上方公司名可切换其他公司
Mayville Engineering Company, Inc.的季度营收约是Target Hospitality Corp.的1.8倍（$134.3M vs $73.5M），Mayville Engineering Company, Inc.净利率更高（-3.2% vs -20.3%，领先17.1%），Target Hospitality Corp.同比增速更快（22.0% vs 10.7%），过去两年Target Hospitality Corp.的营收复合增速更高（0.7% vs -8.8%）
Mayville Engineering Company（MEC）是总部位于美国的领先金属零部件、装配组件及定制工程解决方案供应商，主要服务农业、建筑、商用运输、国防、动力运动等领域的原始设备制造商客户，提供从原型开发到大规模量产的全流程服务。
Target Hospitality是一家专业住宿服务提供商，主营石油、天然气及矿业项目用工住宿，也提供大型活动、灾后救援所需的临时模块化住宿，总部位于得克萨斯州伍德兰兹，同时在北达科他州威利斯顿、科罗拉多州丹佛以及阿尔伯塔省卡尔加里设有办事处。
MEC vs TH — 直观对比
营收规模更大
MEC
是对方的1.8倍
$73.5M
营收增速更快
TH
高出11.3%
10.7%
净利率更高
MEC
高出17.1%
-20.3%
两年增速更快
TH
近两年复合增速
-8.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $134.3M | $73.5M |
| 净利润 | $-4.4M | $-14.9M |
| 毛利率 | 6.8% | 9.6% |
| 营业利润率 | -4.1% | -22.9% |
| 净利率 | -3.2% | -20.3% |
| 营收同比 | 10.7% | 22.0% |
| 净利润同比 | -127.3% | -219.1% |
| 每股收益（稀释后） | $-0.22 | $-0.14 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收MECTH
| Q4 25 | $134.3M | $73.5M | ||
| Q3 25 | $144.3M | $91.6M | ||
| Q2 25 | $132.3M | $54.9M | ||
| Q1 25 | $135.6M | $54.9M | ||
| Q4 24 | $121.3M | $60.2M | ||
| Q3 24 | $135.4M | $65.8M | ||
| Q2 24 | $163.6M | $67.5M | ||
| Q1 24 | $161.3M | $72.4M |
净利润MECTH
| Q4 25 | $-4.4M | $-14.9M | ||
| Q3 25 | $-2.7M | $-795.0K | ||
| Q2 25 | $-1.1M | $-14.9M | ||
| Q1 25 | $20.0K | $-6.5M | ||
| Q4 24 | $16.0M | $12.5M | ||
| Q3 24 | $3.0M | $20.0M | ||
| Q2 24 | $3.8M | $18.4M | ||
| Q1 24 | $3.2M | $20.4M |
毛利率MECTH
| Q4 25 | 6.8% | 9.6% | ||
| Q3 25 | 11.0% | 19.6% | ||
| Q2 25 | 10.3% | -0.6% | ||
| Q1 25 | 11.3% | 32.7% | ||
| Q4 24 | 8.9% | 61.5% | ||
| Q3 24 | 12.6% | 68.7% | ||
| Q2 24 | 13.6% | 69.4% | ||
| Q1 24 | 13.0% | 67.8% |
营业利润率MECTH
| Q4 25 | -4.1% | -22.9% | ||
| Q3 25 | 0.0% | 0.1% | ||
| Q2 25 | 0.1% | -30.8% | ||
| Q1 25 | 1.2% | -2.0% | ||
| Q4 24 | 19.0% | 34.5% | ||
| Q3 24 | 4.2% | 42.5% | ||
| Q2 24 | 5.0% | 43.8% | ||
| Q1 24 | 4.7% | 42.0% |
净利率MECTH
| Q4 25 | -3.2% | -20.3% | ||
| Q3 25 | -1.9% | -0.9% | ||
| Q2 25 | -0.8% | -27.2% | ||
| Q1 25 | 0.0% | -11.8% | ||
| Q4 24 | 13.2% | 20.8% | ||
| Q3 24 | 2.2% | 30.4% | ||
| Q2 24 | 2.3% | 27.2% | ||
| Q1 24 | 2.0% | 28.2% |
每股收益（稀释后）MECTH
| Q4 25 | $-0.22 | $-0.14 | ||
| Q3 25 | $-0.13 | $-0.01 | ||
| Q2 25 | $-0.05 | $-0.15 | ||
| Q1 25 | $0.00 | $-0.07 | ||
| Q4 24 | $0.76 | $0.12 | ||
| Q3 24 | $0.14 | $0.20 | ||
| Q2 24 | $0.18 | $0.18 | ||
| Q1 24 | $0.16 | $0.20 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $1.5M | $8.3M |
| 总债务越低越好 | — | $1.7M |
| 股东权益账面价值 | $240.7M | $389.3M |
| 总资产 | $563.6M | $530.2M |
| 负债/权益比越低杠杆越低 | — | 0.00× |
8季度趋势，按日历期对齐
现金及短期投资MECTH
| Q4 25 | $1.5M | $8.3M | ||
| Q3 25 | $1.2M | $30.4M | ||
| Q2 25 | $206.0K | $19.2M | ||
| Q1 25 | $183.0K | $34.5M | ||
| Q4 24 | $206.0K | $190.7M | ||
| Q3 24 | $178.0K | $177.7M | ||
| Q2 24 | $314.0K | $154.3M | ||
| Q1 24 | $314.0K | $124.3M |
总债务MECTH
| Q4 25 | — | $1.7M | ||
| Q3 25 | — | $2.0M | ||
| Q2 25 | — | $26.3M | ||
| Q1 25 | — | $42.9M | ||
| Q4 24 | — | $1.5M | ||
| Q3 24 | — | $994.0K | ||
| Q2 24 | — | $1.1M | ||
| Q1 24 | — | $179.9M |
股东权益MECTH
| Q4 25 | $240.7M | $389.3M | ||
| Q3 25 | $244.8M | $402.4M | ||
| Q2 25 | $246.8M | $401.3M | ||
| Q1 25 | $250.0M | $415.3M | ||
| Q4 24 | $251.8M | $421.1M | ||
| Q3 24 | $238.4M | $417.6M | ||
| Q2 24 | $238.1M | $397.2M | ||
| Q1 24 | $234.0M | $375.5M |
总资产MECTH
| Q4 25 | $563.6M | $530.2M | ||
| Q3 25 | $585.6M | $541.2M | ||
| Q2 25 | $433.7M | $533.7M | ||
| Q1 25 | $447.7M | $562.5M | ||
| Q4 24 | $445.6M | $725.8M | ||
| Q3 24 | $466.0M | $709.8M | ||
| Q2 24 | $488.2M | $697.0M | ||
| Q1 24 | $499.9M | $687.2M |
负债/权益比MECTH
| Q4 25 | — | 0.00× | ||
| Q3 25 | — | 0.01× | ||
| Q2 25 | — | 0.07× | ||
| Q1 25 | — | 0.10× | ||
| Q4 24 | — | 0.00× | ||
| Q3 24 | — | 0.00× | ||
| Q2 24 | — | 0.00× | ||
| Q1 24 | — | 0.48× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $13.4M | $5.7M |
| 自由现金流经营现金流 - 资本支出 | $10.2M | — |
| 自由现金流率自由现金流/营收 | 7.6% | — |
| 资本支出强度资本支出/营收 | 2.4% | — |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $26.9M | — |
8季度趋势，按日历期对齐
经营现金流MECTH
| Q4 25 | $13.4M | $5.7M | ||
| Q3 25 | $1.9M | $53.4M | ||
| Q2 25 | $15.0M | $11.1M | ||
| Q1 25 | $8.3M | $3.9M | ||
| Q4 24 | $38.0M | $30.6M | ||
| Q3 24 | $17.9M | $31.4M | ||
| Q2 24 | $23.3M | $39.1M | ||
| Q1 24 | $10.6M | $50.6M |
自由现金流MECTH
| Q4 25 | $10.2M | — | ||
| Q3 25 | $-1.1M | — | ||
| Q2 25 | $12.5M | — | ||
| Q1 25 | $5.4M | $-11.6M | ||
| Q4 24 | $35.6M | — | ||
| Q3 24 | $15.1M | — | ||
| Q2 24 | $19.2M | — | ||
| Q1 24 | $7.8M | — |
自由现金流率MECTH
| Q4 25 | 7.6% | — | ||
| Q3 25 | -0.8% | — | ||
| Q2 25 | 9.5% | — | ||
| Q1 25 | 4.0% | -21.1% | ||
| Q4 24 | 29.4% | — | ||
| Q3 24 | 11.1% | — | ||
| Q2 24 | 11.7% | — | ||
| Q1 24 | 4.9% | — |
资本支出强度MECTH
| Q4 25 | 2.4% | — | ||
| Q3 25 | 2.1% | — | ||
| Q2 25 | 1.8% | — | ||
| Q1 25 | 2.2% | 28.2% | ||
| Q4 24 | 1.9% | — | ||
| Q3 24 | 2.1% | — | ||
| Q2 24 | 2.5% | — | ||
| Q1 24 | 1.7% | — |
现金转化率MECTH
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 416.65× | — | ||
| Q4 24 | 2.38× | 2.44× | ||
| Q3 24 | 6.03× | 1.57× | ||
| Q2 24 | 6.15× | 2.13× | ||
| Q1 24 | 3.28× | 2.48× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
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% |
TH
| Services | $40.9M | 56% |
| Hospitality And Facilities Services South | $32.6M | 44% |
