MECNYSEMetal Forgings & StampingsFiscal year ends December 31
Mayville Engineering Company, Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 5, 2026
$13.94+0.04 (+0.29%)
Close on Oct 19, 2026
- Market cap
- $317.38M
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2017 to 2025
Gross margin
9.9%+1.1 pts over 5 years
Operating margin
-0.7%+1.1 pts over 5 years
Net margin
-1.5%+0.5 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | -6.0% | +0.4% | +8.9% | – | |
| Gross profit | -24.0% | -4.0% | +11.4% | – | |
| Free cash flow | -65.4% | – | -1.3% | – |
Returns and balance sheet
9 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2017 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | -3.5% | -3.3% | |
| Return on assets | – | -2.0% | -1.6% | |
| Current ratio | – | 1.69 | 1.72 | |
| Interest coverage | 2.3× | -2.4× | -0.4× | |
| Inventory turnover | – | 7.5× | 8.6× | |
| Capex to revenue | 3.6% | 2.2% | 2.1% | |
| Diluted shares | 14M | 20M | 20M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Mayville Engineering generated $235.62M from operations and spent $158.53M on capital expenditure, dividends and share buybacks. 87% of that went back into the business.
Generated
$235.62M
Used
$158.53M
Capital expenditure$138.26M87%Dividends$00%Share buybacks$20.26M13%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-1.5%
×Asset turnover1.08×
×Equity multiplier2.05×
=Return on equity, FY2025-3.3%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -1.5% | 1.08× | 2.05× | -3.3% |
| FY2024 | 4.5% | 1.23× | 1.96× | 10.8% |
| FY2023 | 1.3% | 1.26× | 2.09× | 3.5% |
| FY2022 | 3.5% | 1.32× | 1.97× | 9.0% |
| FY2021 | -1.6% | 1.27× | 1.80× | -3.7% |
| FY2020 | -2.0% | 1.02× | 1.75× | -3.5% |
| FY2019 | -0.9% | 1.38× | 2.49× | -3.1% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
4of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero-$8.11M
- Cash generatingOperating cash flow above zero$38.56M
- Return on assets improvedROA up on the prior year5.2% → -1.8%
- Earnings backed by cashOperating cash flow above net income$38.56M vs -$8.11M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose1.75 → 1.72
- No dilutionShare count did not rise21M → 20M
- Gross margin improvedGross margin up on the prior year12.22% → 9.88%
- More efficientAsset turnover rose1.17 → 1.23