Mayville Engineering (MEC) Financials

$15.98 +0.22 (+1.40%)

Closing price 05/29/2025 03:59 PM Eastern

Extended Trading

$15.92 -0.06 (-0.38%)

As of 05/29/2025 04:04 PM Eastern

Annual Income Statements for Mayville Engineering

This table shows Mayville Engineering's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022
Period end date	12/31/2024	12/31/2023	12/31/2022
Net Income / (Loss) Attributable to Common Shareholders	26	7.84	19
Consolidated Net Income / (Loss)	26	7.84	19
Net Income / (Loss) Continuing Operations	26	7.84	19
Total Pre-Tax Income	34	8.88	22
Total Operating Income	45	20	26
Total Gross Profit	71	70	61
Total Revenue	582	588	539
Operating Revenue	582	588	539
Total Cost of Revenue	511	519	478
Operating Cost of Revenue	511	519	478
Total Operating Expenses	27	50	35
Selling, General & Admin Expense	32	30	25
Amortization Expense	6.93	7.74	6.95
Other Operating Expenses / (Income)	14	12	8.00
Impairment Charge	0.00	0.00	-4.35
Other Special Charges / (Income)	-26	0.00	0.00
Total Other Income / (Expense), net	-11	-11	-3.38
Interest Expense	11	11	3.38
Income Tax Expense	7.60	1.04	3.67
Basic Earnings per Share	$1.26	$0.38	$0.92
Weighted Average Basic Shares Outstanding	20.61M	20.42M	20.40M
Diluted Earnings per Share	$1.24	$0.38	$0.91
Weighted Average Diluted Shares Outstanding	20.97M	20.70M	20.68M
Weighted Average Basic & Diluted Shares Outstanding	20.42M	20.36M	20.17M

This table shows Mayville Engineering's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	16	2.97	3.78	3.24	2.23	1.43	1.61	2.57	2.38	6.60
Consolidated Net Income / (Loss)	16	2.97	3.78	3.24	2.23	1.43	1.61	2.57	2.38	6.60
Net Income / (Loss) Continuing Operations	16	2.97	3.78	3.24	2.23	1.43	1.61	2.57	2.38	6.60
Total Pre-Tax Income	21	3.07	5.18	4.28	1.80	1.99	2.09	3.01	1.58	8.09
Total Operating Income	23	5.73	8.15	7.63	5.36	5.89	4.27	4.67	2.80	8.92
Total Gross Profit	11	17	22	21	18	19	16	16	12	15
Total Revenue	121	135	164	161	149	158	139	143	129	136
Operating Revenue	121	135	164	161	149	158	139	143	129	136
Total Cost of Revenue	111	118	141	140	130	139	123	126	116	121
Operating Cost of Revenue	111	118	141	140	130	139	123	126	116	121
Total Operating Expenses	-12	11	14	13	13	13	12	12	9.66	6.55
Selling, General & Admin Expense	7.93	7.56	8.26	7.77	7.21	8.61	7.40	6.97	6.04	6.53
Amortization Expense	1.73	1.73	1.73	1.73	2.09	2.17	1.74	1.74	1.74	1.74
Other Operating Expenses / (Income)	3.58	2.08	4.13	3.80	3.55	2.35	2.69	3.00	2.41	0.01
Total Other Income / (Expense), net	-2.01	-2.65	-2.97	-3.36	-3.56	-3.91	-2.18	-1.66	-1.22	-0.83
Interest Expense	2.01	2.65	2.97	3.36	3.56	3.91	2.18	1.66	1.22	0.83
Income Tax Expense	5.06	0.10	1.40	1.03	-0.43	0.55	0.48	0.44	-0.80	1.49
Basic Earnings per Share	$0.78	$0.14	$0.18	$0.16	$0.10	$0.07	$0.08	$0.13	$0.12	$0.32
Weighted Average Basic Shares Outstanding	20.61M	20.72M	20.60M	20.49M	20.42M	20.44M	20.49M	20.32M	20.40M	20.39M
Diluted Earnings per Share	$0.76	$0.14	$0.18	$0.16	$0.11	$0.07	$0.08	$0.12	$0.11	$0.32
Weighted Average Diluted Shares Outstanding	20.97M	21.12M	21.03M	20.70M	20.70M	20.62M	20.83M	20.75M	20.68M	20.39M
Weighted Average Basic & Diluted Shares Outstanding	20.42M	20.64M	20.62M	20.53M	20.36M	20.31M	20.39M	20.47M	20.17M	20.17M

This table details how cash moves in and out of Mayville Engineering's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022
Period end date	12/31/2024	12/31/2023	12/31/2022
Net Change in Cash & Equivalents	-0.47	0.55	0.01
Net Cash From Operating Activities	90	40	52
Net Cash From Continuing Operating Activities	90	40	52
Net Income / (Loss) Continuing Operations	26	7.84	19
Consolidated Net Income / (Loss)	26	7.84	19
Depreciation Expense	31	27	22
Amortization Expense	6.93	7.74	6.95
Non-Cash Adjustments To Reconcile Net Income	4.92	5.52	-0.03
Changes in Operating Assets and Liabilities, net	21	-8.08	4.42
Net Cash From Investing Activities	-12	-104	-51
Net Cash From Continuing Investing Activities	-12	-104	-51
Purchase of Property, Plant & Equipment	-12	-17	-59
Acquisitions	0.00	-89	0.00
Sale of Property, Plant & Equipment	0.39	1.06	7.94
Net Cash From Financing Activities	-79	64	-1.75
Net Cash From Continuing Financing Activities	-79	64	-1.75
Repayment of Debt	-879	-521	-434
Repurchase of Common Equity	-5.90	-2.66	-4.95
Issuance of Debt	811	588	438
Other Financing Activities, net	-4.09	-0.40	-0.32
Cash Interest Paid	10	11	3.67
Cash Income Taxes Paid	1.37	0.51	0.70

This table details how cash moves in and out of Mayville Engineering's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	0.03	-0.14	-	-0.36	-1.63	-88	90	-0.00	0.02	0.01
Net Cash From Operating Activities	38	18	23	11	27	20	0.18	-6.04	19	18
Net Cash From Continuing Operating Activities	38	18	23	11	27	20	0.18	-6.04	19	18
Net Income / (Loss) Continuing Operations	16	2.97	3.78	3.24	2.23	1.43	1.61	2.57	2.38	6.60
Consolidated Net Income / (Loss)	16	2.97	3.78	3.24	2.23	1.43	1.61	2.57	2.38	6.60
Depreciation Expense	7.73	7.75	7.66	7.52	7.49	7.43	6.27	6.14	6.02	5.37
Amortization Expense	1.73	1.73	1.73	1.73	2.09	2.17	1.74	1.74	1.74	1.74
Non-Cash Adjustments To Reconcile Net Income	0.85	1.42	1.29	1.37	18	-16	1.92	0.97	6.28	-6.96
Changes in Operating Assets and Liabilities, net	12	4.07	8.82	-3.24	-3.63	24	-11	-17	2.69	11
Net Cash From Investing Activities	-2.07	-2.88	-4.10	-2.67	-6.48	-91	-3.91	-2.26	-20	-9.95
Net Cash From Continuing Investing Activities	-2.07	-2.88	-4.10	-2.67	-6.48	-91	-3.91	-2.26	-20	-9.95
Purchase of Property, Plant & Equipment	-2.35	-2.88	-4.10	-2.78	-6.78	-3.49	-3.91	-2.41	-20	-12
Sale of Property, Plant & Equipment	0.28	0.00	-	0.11	0.31	0.60	-	0.15	0.21	2.51
Net Cash From Financing Activities	-36	-15	-19	-8.32	-22	-16	94	8.30	0.50	-7.68
Net Cash From Continuing Financing Activities	-36	-15	-19	-8.32	-22	-16	94	8.30	0.50	-7.68
Repayment of Debt	-328	-252	-172	-127	-155	-122	-133	-111	-110	-113
Repurchase of Common Equity	-3.90	-1.00	-	-	-	-1.00	-	-	-	-2.62
Issuance of Debt	296	241	154	119	133	107	228	120	111	108
Other Financing Activities, net	-0.15	-3.19	-0.31	-0.45	-0.11	-0.10	0.57	-0.76	-0.09	-0.08
Cash Interest Paid	2.24	2.46	3.48	2.09	3.46	3.83	3.27	0.11	1.91	0.76
Cash Income Taxes Paid	0.17	0.41	0.79	0.00	0.01	0.23	0.28	0.00	0.06	0.19

This table presents Mayville Engineering's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022
Period end date	12/31/2024	12/31/2023	12/31/2022
Total Assets	446	497	441
Total Current Assets	113	135	141
Cash & Equivalents	0.21	0.67	0.13
Accounts Receivable	50	57	58
Inventories, net	55	68	72
Prepaid Expenses	3.44	3.27	3.53
Other Current Assets	4.76	5.46	7.94
Plant, Property, & Equipment, net	157	176	146
Total Noncurrent Assets	176	186	154
Goodwill	93	93	72
Intangible Assets	52	59	44
Other Noncurrent Operating Assets	32	35	38
Total Liabilities & Shareholders' Equity	446	497	441
Total Liabilities	194	267	223
Total Current Liabilities	65	72	102
Accounts Payable	39	47	54
Accrued Expenses	4.38	3.11	6.86
Other Taxes Payable	5.09	6.37	7.29
Other Current Liabilities	16	16	17
Total Noncurrent Liabilities	129	195	120
Long-Term Debt	80	147	72
Noncurrent Deferred & Payable Income Tax Liabilities	17	13	12
Noncurrent Employee Benefit Liabilities	4.72	3.82	3.13
Other Noncurrent Operating Liabilities	28	31	33
Commitments & Contingencies	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	252	230	218
Total Preferred & Common Equity	252	230	218
Total Common Equity	252	230	218
Common Stock	207	205	201
Retained Earnings	60	34	26
Treasury Stock	-15	-9.51	-9.35

This table presents Mayville Engineering's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	9/30/2024	6/30/2024	3/31/2024	9/30/2023	6/30/2023	3/31/2023	9/30/2022
Total Assets	466	488	500	525	529	448	447
Total Current Assets	126	140	146	158	238	155	153
Cash & Equivalents	0.18	0.31	0.31	2.31	90	0.13	0.11
Accounts Receivable	54	68	70	72	69	74	67
Inventories, net	61	61	66	73	67	69	75
Prepaid Expenses	4.93	5.16	3.52	4.51	4.36	3.47	3.96
Other Current Assets	5.63	6.07	5.23	5.66	7.83	8.04	6.70
Plant, Property, & Equipment, net	164	169	172	178	141	143	137
Total Noncurrent Assets	176	179	182	189	149	150	156
Goodwill	93	93	93	93	72	72	72
Intangible Assets	53	55	57	61	40	42	46
Other Noncurrent Operating Assets	30	31	33	36	37	37	39
Total Liabilities & Shareholders' Equity	466	488	500	525	529	448	447
Total Liabilities	228	250	266	298	303	225	232
Total Current Liabilities	71	82	79	81	79	96	111
Accounts Payable	48	54	54	53	52	52	60
Accrued Expenses	3.18	3.28	1.46	1.63	1.50	1.14	6.97
Other Taxes Payable	6.04	7.21	6.13	8.60	8.23	7.32	9.19
Other Current Liabilities	14	17	17	18	16	18	18
Total Noncurrent Liabilities	156	168	187	216	225	128	121
Long-Term Debt	111	122	140	168	178	82	71
Noncurrent Deferred & Payable Income Tax Liabilities	13	13	13	13	13	12	12
Noncurrent Employee Benefit Liabilities	4.60	4.32	4.18	3.50	3.45	3.23	2.92
Other Noncurrent Operating Liabilities	28	29	30	32	30	32	34
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	238	238	234	227	225	223	215
Total Preferred & Common Equity	238	238	234	227	225	223	215
Total Common Equity	238	238	234	227	225	223	215
Common Stock	206	207	206	205	203	202	200
Retained Earnings	44	41	37	32	30	29	24
Treasury Stock	-12	-11	-9.51	-9.51	-8.51	-7.51	-9.35

This table displays calculated financial ratios and metrics derived from Mayville Engineering's official financial filings.

Metric	2024	2023	2022
Period end date	12/31/2024	12/31/2023	12/31/2022
Growth Metrics	-	-	-
Revenue Growth	-1.16%	9.09%	18.59%
EBITDA Growth	48.62%	0.34%	125.83%
EBIT Growth	120.66%	-21.66%	448.72%
NOPAT Growth	93.33%	-17.28%	516.60%
Net Income Growth	231.06%	-58.11%	351.34%
EPS Growth	226.32%	-58.24%	352.78%
Operating Cash Flow Growth	122.50%	-23.01%	262.63%
Free Cash Flow Firm Growth	215.95%	-2,494.26%	88.05%
Invested Capital Growth	-12.08%	29.94%	9.11%
Revenue Q/Q Growth	-4.48%	3.53%	2.97%
EBITDA Q/Q Growth	27.21%	8.61%	54.57%
EBIT Q/Q Growth	65.85%	14.47%	340.73%
NOPAT Q/Q Growth	50.38%	9.60%	329.59%
Net Income Q/Q Growth	112.43%	-1.91%	572.67%
EPS Q/Q Growth	110.17%	0.00%	506.67%
Operating Cash Flow Q/Q Growth	14.38%	23.03%	49.88%
Free Cash Flow Firm Q/Q Growth	19.67%	24.22%	77.60%
Invested Capital Q/Q Growth	-5.14%	-4.16%	1.45%
Profitability Metrics	-	-	-
Gross Margin	12.22%	11.85%	11.32%
EBITDA Margin	14.12%	9.39%	10.21%
Operating Margin	7.66%	3.43%	4.78%
EBIT Margin	7.66%	3.43%	4.78%
Profit (Net Income) Margin	4.46%	1.33%	3.47%
Tax Burden Percent	77.37%	88.30%	83.63%
Interest Burden Percent	75.34%	43.99%	86.89%
Effective Tax Rate	22.63%	11.70%	16.37%
Return on Invested Capital (ROIC)	9.74%	5.35%	7.76%
ROIC Less NNEP Spread (ROIC-NNEP)	2.22%	-3.77%	3.71%
Return on Net Nonoperating Assets (RNNOA)	1.04%	-1.84%	1.24%
Return on Equity (ROE)	10.78%	3.50%	9.00%
Cash Return on Invested Capital (CROIC)	22.60%	-20.69%	-0.96%
Operating Return on Assets (OROA)	9.46%	4.31%	6.29%
Return on Assets (ROA)	5.51%	1.67%	4.57%
Return on Common Equity (ROCE)	10.78%	3.50%	9.00%
Return on Equity Simple (ROE_SIMPLE)	10.31%	3.41%	8.60%
Net Operating Profit after Tax (NOPAT)	34	18	22
NOPAT Margin	5.93%	3.03%	4.00%
Net Nonoperating Expense Percent (NNEP)	7.51%	9.12%	4.05%
Return On Investment Capital (ROIC_SIMPLE)	10.40%	4.72%	7.43%
Cost of Revenue to Revenue	87.78%	88.15%	88.68%
SG&A Expenses to Revenue	5.42%	5.13%	4.58%
R&D to Revenue	0.00%	0.00%	0.00%
Operating Expenses to Revenue	4.56%	8.41%	6.54%
Earnings before Interest and Taxes (EBIT)	45	20	26
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	82	55	55
Valuation Ratios	-	-	-
Price to Book Value (P/BV)	1.29	1.27	1.17
Price to Tangible Book Value (P/TBV)	3.02	3.72	2.49
Price to Revenue (P/Rev)	0.56	0.50	0.47
Price to Earnings (P/E)	12.50	37.33	13.64
Dividend Yield	0.00%	0.00%	0.00%
Earnings Yield	8.00%	2.68%	7.33%
Enterprise Value to Invested Capital (EV/IC)	1.22	1.17	1.13
Enterprise Value to Revenue (EV/Rev)	0.69	0.75	0.61
Enterprise Value to EBITDA (EV/EBITDA)	4.92	7.95	5.95
Enterprise Value to EBIT (EV/EBIT)	9.07	21.78	12.71
Enterprise Value to NOPAT (EV/NOPAT)	11.72	24.66	15.19
Enterprise Value to Operating Cash Flow (EV/OCF)	4.50	10.89	6.25
Enterprise Value to Free Cash Flow (EV/FCFF)	5.05	0.00	0.00
Leverage & Solvency	-	-	-
Debt to Equity	0.32	0.64	0.33
Long-Term Debt to Equity	0.32	0.64	0.33
Financial Leverage	0.47	0.49	0.34
Leverage Ratio	1.96	2.09	1.97
Compound Leverage Factor	1.47	0.92	1.71
Debt to Total Capital	24.05%	39.07%	24.90%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	24.05%	39.07%	24.90%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%
Common Equity to Total Capital	75.95%	60.93%	75.10%
Debt to EBITDA	0.97	2.67	1.31
Net Debt to EBITDA	0.97	2.66	1.31
Long-Term Debt to EBITDA	0.97	2.67	1.31
Debt to NOPAT	2.31	8.27	3.35
Net Debt to NOPAT	2.31	8.23	3.35
Long-Term Debt to NOPAT	2.31	8.27	3.35
Altman Z-Score	2.96	2.23	2.29
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-
Current Ratio	1.75	1.88	1.38
Quick Ratio	0.77	0.81	0.57
Cash Flow Metrics	-	-	-
Free Cash Flow to Firm (FCFF)	80	-69	-2.66
Operating Cash Flow to CapEx	766.79%	259.75%	103.47%
Free Cash Flow to Firm to Interest Expense	7.28	-6.10	-0.79
Operating Cash Flow to Interest Expense	8.17	3.57	15.51
Operating Cash Flow Less CapEx to Interest Expense	7.11	2.20	0.52
Efficiency Ratios	-	-	-
Asset Turnover	1.23	1.26	1.32
Accounts Receivable Turnover	10.85	10.19	9.51
Inventory Turnover	8.33	7.44	6.74
Fixed Asset Turnover	3.50	3.66	4.05
Accounts Payable Turnover	11.92	10.35	9.21
Days Sales Outstanding (DSO)	33.65	35.81	38.37
Days Inventory Outstanding (DIO)	43.81	49.08	54.13
Days Payable Outstanding (DPO)	30.62	35.27	39.62
Cash Conversion Cycle (CCC)	46.84	49.61	52.88
Capital & Investment Metrics	-	-	-
Invested Capital	331	377	290
Invested Capital Turnover	1.64	1.77	1.94
Increase / (Decrease) in Invested Capital	-46	87	24
Enterprise Value (EV)	404	440	327
Market Capitalization	325	293	255
Book Value per Share	$12.19	$11.32	$10.80
Tangible Book Value per Share	$5.20	$3.87	$5.08
Total Capital	331	377	290
Total Debt	80	147	72
Total Long-Term Debt	80	147	72
Net Debt	80	147	72
Capital Expenditures (CapEx)	12	16	51
Debt-free, Cash-free Net Working Capital (DFCFNWC)	48	62	39
Debt-free Net Working Capital (DFNWC)	48	63	39
Net Working Capital (NWC)	48	63	39
Net Nonoperating Expense (NNE)	8.50	9.99	2.83
Net Nonoperating Obligations (NNO)	80	147	72
Total Depreciation and Amortization (D&A)	38	35	29
Debt-free, Cash-free Net Working Capital to Revenue	8.28%	10.58%	7.18%
Debt-free Net Working Capital to Revenue	8.31%	10.69%	7.20%
Net Working Capital to Revenue	8.31%	10.69%	7.20%
Earnings Adjustments	-	-	-
Adjusted Basic Earnings per Share	$1.26	$0.38	$0.92
Adjusted Weighted Average Basic Shares Outstanding	20.61M	20.42M	20.40M
Adjusted Diluted Earnings per Share	$1.24	$0.38	$0.91
Adjusted Weighted Average Diluted Shares Outstanding	20.97M	20.70M	20.68M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	20.42M	20.36M	20.17M
Normalized Net Operating Profit after Tax (NOPAT)	15	18	18
Normalized NOPAT Margin	2.53%	3.03%	3.32%
Pre Tax Income Margin	5.77%	1.51%	4.15%
Debt Service Ratios	-	-	-
EBIT to Interest Expense	4.05	1.79	7.63
NOPAT to Interest Expense	3.14	1.58	6.38
EBIT Less CapEx to Interest Expense	2.99	0.41	-7.37
NOPAT Less CapEx to Interest Expense	2.07	0.20	-8.61
Payout Ratios	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%
Augmented Payout Ratio	22.70%	33.92%	26.42%

This table displays calculated financial ratios and metrics derived from Mayville Engineering's official financial filings.

Metric	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-18.36%	-14.43%	17.74%	13.06%	15.60%	16.10%	0.46%	4.69%	13.77%	25.00%
EBITDA Growth	117.62%	-1.88%	42.80%	34.54%	41.49%	-3.25%	-21.94%	-1.72%	218.74%	81.54%
EBIT Growth	330.35%	-2.82%	90.73%	63.40%	91.11%	-33.91%	-49.68%	-16.07%	116.36%	931.94%
NOPAT Growth	163.52%	30.40%	80.21%	45.13%	57.72%	-41.58%	-49.33%	-6.33%	135.12%	934.64%
Net Income Growth	617.15%	107.68%	134.32%	26.06%	-6.43%	-78.29%	-72.78%	-32.73%	117.55%	2,298.55%
EPS Growth	590.91%	100.00%	125.00%	33.33%	0.00%	-78.13%	-72.41%	-36.84%	116.92%	3,100.00%
Operating Cash Flow Growth	42.35%	-8.25%	12,975.84%	275.82%	39.54%	10.95%	-98.90%	-1,321.88%	1,048.50%	424.28%
Free Cash Flow Firm Growth	178.60%	148.00%	-73.48%	-333.84%	-300.86%	-971.86%	-4.17%	45.46%	31.19%	-44.30%
Invested Capital Growth	-12.08%	-11.17%	14.89%	22.56%	29.94%	37.54%	9.34%	6.46%	9.11%	6.28%
Revenue Q/Q Growth	-10.40%	-17.26%	1.47%	8.54%	-6.09%	13.84%	-2.57%	10.98%	-5.69%	-1.49%
EBITDA Q/Q Growth	113.73%	-13.29%	3.89%	13.04%	-3.63%	26.18%	-2.12%	18.88%	-34.11%	1.80%
EBIT Q/Q Growth	302.39%	-29.73%	6.80%	42.50%	-9.13%	37.91%	-8.50%	66.67%	-68.57%	4.99%
NOPAT Q/Q Growth	215.81%	-6.87%	2.84%	-12.87%	56.27%	28.71%	-17.18%	-5.32%	-42.11%	11.62%
Net Income Q/Q Growth	437.02%	-21.36%	16.69%	45.53%	55.52%	-11.28%	-37.22%	8.03%	-63.92%	11.25%
EPS Q/Q Growth	442.86%	-22.22%	12.50%	45.45%	57.14%	-12.50%	-33.33%	9.09%	-65.63%	10.34%
Operating Cash Flow Q/Q Growth	111.51%	-22.89%	119.06%	-60.16%	36.33%	10,889.33%	102.95%	-131.62%	8.39%	9.45%
Free Cash Flow Firm Q/Q Growth	27.41%	221.55%	35.36%	21.48%	22.20%	-339.32%	-61.64%	27.45%	-108.04%	57.30%
Invested Capital Q/Q Growth	-5.14%	-2.95%	-3.67%	-0.86%	-4.16%	25.53%	2.75%	5.11%	1.45%	-0.20%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	8.90%	12.63%	13.61%	12.98%	12.26%	12.02%	11.58%	11.48%	9.70%	11.35%
EBITDA Margin	26.80%	11.23%	10.72%	10.47%	10.05%	9.80%	8.84%	8.80%	8.21%	11.76%
Operating Margin	19.00%	4.23%	4.98%	4.73%	3.60%	3.72%	3.07%	3.27%	2.18%	6.54%
EBIT Margin	19.00%	4.23%	4.98%	4.73%	3.60%	3.72%	3.07%	3.27%	2.18%	6.54%
Profit (Net Income) Margin	13.17%	2.20%	2.31%	2.01%	1.50%	0.91%	1.16%	1.80%	1.85%	4.84%
Tax Burden Percent	75.93%	96.75%	73.00%	75.81%	124.00%	72.10%	77.26%	85.36%	150.25%	81.57%
Interest Burden Percent	91.27%	53.68%	63.57%	56.02%	33.54%	33.70%	48.89%	64.50%	56.53%	90.69%
Effective Tax Rate	24.07%	3.25%	27.00%	24.19%	-24.00%	27.90%	22.74%	14.64%	-50.25%	18.43%
Return on Invested Capital (ROIC)	23.70%	6.71%	6.83%	6.42%	7.89%	4.50%	4.33%	5.16%	6.36%	10.08%
ROIC Less NNEP Spread (ROIC-NNEP)	22.35%	4.86%	4.76%	4.12%	3.86%	2.12%	2.27%	3.44%	3.74%	9.02%
Return on Net Nonoperating Assets (RNNOA)	10.50%	2.89%	2.15%	1.99%	1.89%	1.14%	0.85%	1.33%	1.25%	2.71%
Return on Equity (ROE)	34.20%	9.61%	8.98%	8.41%	9.77%	5.64%	5.18%	6.49%	7.61%	12.79%
Cash Return on Invested Capital (CROIC)	22.60%	18.01%	-7.38%	-14.54%	-20.69%	-26.82%	-2.79%	0.95%	-0.96%	-4.28%
Operating Return on Assets (OROA)	23.45%	5.20%	6.19%	6.06%	4.53%	4.36%	3.45%	4.01%	2.87%	8.30%
Return on Assets (ROA)	16.25%	2.70%	2.87%	2.57%	1.88%	1.06%	1.30%	2.21%	2.44%	6.14%
Return on Common Equity (ROCE)	34.20%	9.61%	8.98%	8.41%	9.77%	5.64%	5.18%	6.49%	7.61%	12.79%
Return on Equity Simple (ROE_SIMPLE)	0.00%	5.13%	4.49%	3.64%	0.00%	3.52%	5.84%	7.82%	0.00%	1.30%
Net Operating Profit after Tax (NOPAT)	17	5.54	5.95	5.79	6.64	4.25	3.30	3.99	4.21	7.27
NOPAT Margin	14.42%	4.09%	3.64%	3.59%	4.47%	2.69%	2.38%	2.79%	3.28%	5.34%
Net Nonoperating Expense Percent (NNEP)	1.35%	1.85%	2.07%	2.30%	4.03%	2.37%	2.06%	1.72%	2.62%	1.06%
Return On Investment Capital (ROIC_SIMPLE)	5.28%	-	-	-	1.76%	-	-	-	1.45%	-
Cost of Revenue to Revenue	91.10%	87.37%	86.39%	87.02%	87.74%	87.98%	88.42%	88.52%	90.30%	88.65%
SG&A Expenses to Revenue	6.54%	5.58%	5.05%	4.82%	4.85%	5.44%	5.32%	4.88%	4.70%	4.79%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	-10.10%	8.40%	8.63%	8.25%	8.65%	8.30%	8.51%	8.21%	7.52%	4.81%
Earnings before Interest and Taxes (EBIT)	23	5.73	8.15	7.63	5.36	5.89	4.27	4.67	2.80	8.92
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	33	15	18	17	15	16	12	13	11	16
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.29	1.82	1.44	1.25	1.27	0.99	1.13	1.35	1.17	0.62
Price to Tangible Book Value (P/TBV)	3.02	4.71	3.79	3.46	3.72	3.04	2.25	2.74	2.49	1.37
Price to Revenue (P/Rev)	0.56	0.71	0.54	0.48	0.50	0.39	0.47	0.55	0.47	0.26
Price to Earnings (P/E)	12.50	35.56	32.01	34.28	37.33	27.97	19.38	17.22	13.64	48.01
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	8.00%	2.81%	3.12%	2.92%	2.68%	3.57%	5.16%	5.81%	7.33%	2.08%
Enterprise Value to Invested Capital (EV/IC)	1.22	1.56	1.29	1.15	1.17	0.99	1.09	1.25	1.13	0.72
Enterprise Value to Revenue (EV/Rev)	0.69	0.90	0.73	0.71	0.75	0.69	0.63	0.70	0.61	0.39
Enterprise Value to EBITDA (EV/EBITDA)	4.92	8.45	7.15	7.24	7.95	7.66	6.67	6.97	5.95	5.75
Enterprise Value to EBIT (EV/EBIT)	9.07	20.31	17.16	18.63	21.78	22.10	16.59	15.37	12.71	35.04
Enterprise Value to NOPAT (EV/NOPAT)	11.72	23.80	21.26	22.20	24.66	23.96	18.62	17.95	15.19	40.84
Enterprise Value to Operating Cash Flow (EV/OCF)	4.50	6.95	5.79	7.56	10.89	11.88	11.10	8.17	6.25	5.86
Enterprise Value to Free Cash Flow (EV/FCFF)	5.05	8.16	0.00	0.00	0.00	0.00	0.00	136.32	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.32	0.47	0.51	0.60	0.64	0.74	0.79	0.37	0.33	0.33
Long-Term Debt to Equity	0.32	0.47	0.51	0.60	0.64	0.74	0.79	0.37	0.33	0.33
Financial Leverage	0.47	0.60	0.45	0.48	0.49	0.54	0.38	0.39	0.34	0.30
Leverage Ratio	1.96	2.13	2.19	2.07	2.09	2.20	2.24	2.09	1.97	1.94
Compound Leverage Factor	1.79	1.14	1.39	1.16	0.70	0.74	1.09	1.35	1.11	1.76
Debt to Total Capital	24.05%	31.78%	33.89%	37.40%	39.07%	42.59%	44.12%	26.75%	24.90%	24.96%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	24.05%	31.78%	33.89%	37.40%	39.07%	42.59%	44.12%	26.75%	24.90%	24.96%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	75.95%	68.22%	66.11%	62.60%	60.93%	57.41%	55.88%	73.25%	75.10%	75.04%
Debt to EBITDA	0.97	1.72	1.88	2.35	2.67	3.31	3.46	1.49	1.31	2.00
Net Debt to EBITDA	0.97	1.72	1.88	2.34	2.66	3.26	1.71	1.48	1.31	2.00
Long-Term Debt to EBITDA	0.97	1.72	1.88	2.35	2.67	3.31	3.46	1.49	1.31	2.00
Debt to NOPAT	2.31	4.84	5.60	7.20	8.27	10.35	9.67	3.83	3.35	14.23
Net Debt to NOPAT	2.31	4.84	5.58	7.18	8.23	10.21	4.77	3.82	3.35	14.20
Long-Term Debt to NOPAT	2.31	4.84	5.60	7.20	8.27	10.35	9.67	3.83	3.35	14.23
Altman Z-Score	2.80	2.77	2.43	2.19	2.13	1.83	2.01	2.30	2.12	1.77
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.75	1.77	1.71	1.84	1.88	1.94	3.03	1.61	1.38	1.38
Quick Ratio	0.77	0.76	0.83	0.89	0.81	0.91	2.02	0.77	0.57	0.61
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	63	49	-41	-63	-80	-103	-23	-15	-20	-9.61
Operating Cash Flow to CapEx	1,836.48%	623.59%	567.82%	398.24%	411.65%	675.92%	4.55%	-267.98%	97.53%	177.21%
Free Cash Flow to Firm to Interest Expense	31.34	18.65	-13.71	-18.76	-22.53	-26.38	-10.74	-8.75	-16.42	-11.58
Operating Cash Flow to Interest Expense	18.88	6.76	7.84	3.17	7.49	5.01	0.08	-3.64	15.69	21.24
Operating Cash Flow Less CapEx to Interest Expense	17.85	5.68	6.46	2.37	5.67	4.27	-1.71	-5.00	-0.40	9.26
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.23	1.23	1.24	1.28	1.26	1.17	1.12	1.22	1.32	1.27
Accounts Receivable Turnover	10.85	9.63	9.23	8.40	10.19	8.15	7.79	7.44	9.51	8.30
Inventory Turnover	8.33	7.89	8.64	7.89	7.44	6.81	6.90	6.84	6.74	6.76
Fixed Asset Turnover	3.50	3.56	4.07	3.85	3.66	3.61	4.04	4.08	4.05	4.04
Accounts Payable Turnover	11.92	10.47	10.37	9.97	10.35	8.89	8.75	8.61	9.21	8.48
Days Sales Outstanding (DSO)	33.65	37.89	39.56	43.46	35.81	44.79	46.85	49.03	38.37	43.98
Days Inventory Outstanding (DIO)	43.81	46.28	42.26	46.26	49.08	53.63	52.92	53.35	54.13	54.00
Days Payable Outstanding (DPO)	30.62	34.88	35.20	36.59	35.27	41.05	41.69	42.38	39.62	43.06
Cash Conversion Cycle (CCC)	46.84	49.29	46.62	53.13	49.61	57.36	58.08	60.00	52.88	54.92
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	331	349	360	374	377	393	313	305	290	286
Invested Capital Turnover	1.64	1.64	1.88	1.79	1.77	1.67	1.82	1.85	1.94	1.89
Increase / (Decrease) in Invested Capital	-46	-44	47	69	87	107	27	18	24	17
Enterprise Value (EV)	404	546	464	431	440	390	343	382	327	205
Market Capitalization	325	435	342	292	293	224	255	301	255	134
Book Value per Share	$12.19	$11.56	$11.60	$11.49	$11.32	$11.13	$11.01	$11.07	$10.80	$10.45
Tangible Book Value per Share	$5.20	$4.47	$4.40	$4.15	$3.87	$3.61	$5.55	$5.44	$5.08	$4.75
Total Capital	331	349	360	374	377	395	403	305	290	286
Total Debt	80	111	122	140	147	168	178	82	72	71
Total Long-Term Debt	80	111	122	140	147	168	178	82	72	71
Net Debt	80	111	122	140	147	166	88	81	72	71
Capital Expenditures (CapEx)	2.07	2.88	4.10	2.67	6.48	2.89	3.91	2.26	20	9.95
Debt-free, Cash-free Net Working Capital (DFCFNWC)	48	55	58	66	62	74	69	59	39	42
Debt-free Net Working Capital (DFNWC)	48	55	58	66	63	76	160	59	39	42
Net Working Capital (NWC)	48	55	58	66	63	76	160	59	39	42
Net Nonoperating Expense (NNE)	1.53	2.57	2.17	2.54	4.41	2.82	1.69	1.42	1.83	0.68
Net Nonoperating Obligations (NNO)	80	111	122	140	147	166	88	81	72	71
Total Depreciation and Amortization (D&A)	9.46	9.48	9.39	9.25	9.58	9.61	8.01	7.88	7.76	7.11
Debt-free, Cash-free Net Working Capital to Revenue	8.28%	8.98%	9.19%	10.88%	10.58%	13.04%	12.70%	10.72%	7.18%	8.02%
Debt-free Net Working Capital to Revenue	8.31%	9.01%	9.24%	10.93%	10.69%	13.44%	29.19%	10.75%	7.20%	8.04%
Net Working Capital to Revenue	8.31%	9.01%	9.24%	10.93%	10.69%	13.44%	29.19%	10.75%	7.20%	8.04%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.78	$0.14	$0.18	$0.16	$0.10	$0.07	$0.08	$0.13	$0.12	$0.32
Adjusted Weighted Average Basic Shares Outstanding	20.61M	20.72M	20.60M	20.49M	20.42M	20.44M	20.49M	20.32M	20.40M	20.39M
Adjusted Diluted Earnings per Share	$0.76	$0.14	$0.18	$0.16	$0.11	$0.07	$0.08	$0.12	$0.11	$0.32
Adjusted Weighted Average Diluted Shares Outstanding	20.97M	21.12M	21.03M	20.70M	20.70M	20.62M	20.83M	20.75M	20.68M	20.39M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	20.42M	20.64M	20.62M	20.53M	20.36M	20.31M	20.39M	20.47M	20.17M	20.17M
Normalized Net Operating Profit after Tax (NOPAT)	17	5.54	5.95	5.79	3.75	4.25	3.30	3.99	1.60	5.86
Normalized NOPAT Margin	14.42%	4.09%	3.64%	3.59%	2.52%	2.69%	2.38%	2.79%	1.24%	4.30%
Pre Tax Income Margin	17.34%	2.27%	3.17%	2.65%	1.21%	1.26%	1.50%	2.11%	1.23%	5.93%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	11.46	2.16	2.75	2.27	1.50	1.51	1.96	2.82	2.30	10.74
NOPAT to Interest Expense	8.70	2.09	2.00	1.72	1.87	1.09	1.51	2.40	3.46	8.76
EBIT Less CapEx to Interest Expense	10.43	1.07	1.36	1.48	-0.32	0.77	0.17	1.46	-13.79	-1.24
NOPAT Less CapEx to Interest Expense	7.67	1.00	0.62	0.93	0.05	0.35	-0.28	1.04	-12.63	-3.22
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	22.70%	16.33%	18.70%	0.00%	33.92%	33.28%	32.56%	0.00%	26.42%	231.57%

Frequently Asked Questions About Mayville Engineering's Financials

When does Mayville Engineering's financial year end?

According to the most recent income statement we have on file, Mayville Engineering's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Mayville Engineering's net income changed over the last 2 years?

Mayville Engineering's net income appears to be on an upward trend, with a most recent value of $25.97 million in 2024, rising from $18.73 million in 2022. The previous period was $7.84 million in 2023. See where experts think Mayville Engineering is headed by visiting Mayville Engineering's forecast page.

What is Mayville Engineering's operating income?

Mayville Engineering's total operating income in 2024 was $44.55 million, based on the following breakdown:

Total Gross Profit: $71.10 million
Total Operating Expenses: $26.54 million

How has Mayville Engineering revenue changed over the last 2 years?

Over the last 2 years, Mayville Engineering's total revenue changed from $539.39 million in 2022 to $581.60 million in 2024, a change of 7.8%.

How much debt does Mayville Engineering have?

Mayville Engineering's total liabilities were at $193.82 million at the end of 2024, a 27.3% decrease from 2023, and a 13.0% decrease since 2022.

How much cash does Mayville Engineering have?

In the past 2 years, Mayville Engineering's cash and equivalents has ranged from $127 thousand in 2022 to $672 thousand in 2023, and is currently $206 thousand as of their latest financial filing in 2024.

How has Mayville Engineering's book value per share changed over the last 2 years?

Over the last 2 years, Mayville Engineering's book value per share changed from 10.80 in 2022 to 12.19 in 2024, a change of 12.9%.

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This page (NYSE:MEC) was last updated on 5/30/2025 by MarketBeat.com Staff

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Mayville Engineering (MEC) Financials

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Mayville Engineering (MEC) Financials

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