What is Mayville Engineering's operating income?

Mayville Engineering's total operating income in 2025 was -$3.84 million, based on the following breakdown: Total Gross Profit: $54.01 million Total Operating Expenses: $57.85 million

Mayville Engineering (MEC) Financials

$35.61 +0.13 (+0.38%)

Closing price 06/12/2026 03:59 PM Eastern

Extended Trading

$35.52 -0.10 (-0.28%)

As of 06/12/2026 06:37 PM Eastern

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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	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	18	-4.75	-7.09	-7.45	19	7.84	26	-8.11
Consolidated Net Income / (Loss)	18	-4.75	-7.09	-7.45	19	7.84	26	-8.11
Net Income / (Loss) Continuing Operations	18	-4.75	-7.09	-7.45	19	7.84	26	-8.11
Total Pre-Tax Income	17	-8.84	-9.17	-9.39	22	8.88	34	-14
Total Operating Income	22	-1.96	-6.50	-7.39	26	20	45	-3.84
Total Gross Profit	51	59	32	51	61	70	71	54
Total Revenue	355	520	358	455	539	588	582	546
Operating Revenue	355	520	358	455	539	588	582	546
Total Cost of Revenue	304	461	326	403	478	519	511	492
Operating Cost of Revenue	304	461	326	403	478	519	511	492
Total Operating Expenses	28	61	38	59	35	50	27	58
Selling, General & Admin Expense	12	25	19	20	25	30	32	39
Amortization Expense	4.10	11	11	11	6.95	7.74	6.93	9.72
Other Operating Expenses / (Income)	12	31	8.25	12	8.00	12	14	8.72
Impairment Charge	-	-	0.00	16	-4.35	0.00	-	0.00
Total Other Income / (Expense), net	-4.69	-6.88	-2.67	-2.00	-3.38	-11	-11	-10
Interest Expense	4.69	6.88	2.67	2.00	3.38	11	11	10
Income Tax Expense	-0.46	-4.09	-2.07	-1.94	3.67	1.04	7.60	-5.95
Basic Earnings per Share	$1.29	($0.27)	($0.36)	($0.37)	$0.92	$0.38	$1.26	($0.40)
Weighted Average Basic Shares Outstanding	0.00	17.45M	19.90M	20.40M	20.40M	20.42M	20.61M	20.47M
Diluted Earnings per Share	$1.29	($0.27)	($0.36)	($0.36)	$0.91	$0.38	$1.24	($0.40)
Weighted Average Diluted Shares Outstanding	0.00	17.45M	19.90M	20.83M	20.68M	20.70M	20.97M	20.47M
Weighted Average Basic & Diluted Shares Outstanding	13.89M	0.00	0.00	20.27M	20.17M	20.36M	20.42M	20.32M

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	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	1.43	2.23	3.24	3.78	2.97	16	0.02	-1.10	-2.68	-4.36	-8.18
Consolidated Net Income / (Loss)	1.43	2.23	3.24	3.78	2.97	16	0.02	-1.10	-2.68	-4.36	-8.18
Net Income / (Loss) Continuing Operations	1.43	2.23	3.24	3.78	2.97	16	0.02	-1.10	-2.68	-4.36	-8.18
Total Pre-Tax Income	1.99	1.80	4.28	5.18	3.07	21	0.01	-1.32	-3.38	-9.37	-11
Total Operating Income	5.89	5.36	7.63	8.15	5.73	23	1.58	0.08	0.05	-5.55	-7.69
Total Gross Profit	19	18	21	22	17	11	15	14	16	9.12	11
Total Revenue	158	149	161	164	135	121	136	132	144	134	145
Operating Revenue	158	149	161	164	135	121	136	132	144	134	145
Total Cost of Revenue	139	130	140	141	118	111	120	119	128	125	134
Operating Cost of Revenue	139	130	140	141	118	111	120	119	128	125	134
Total Operating Expenses	13	13	13	14	11	-12	14	14	16	15	19
Selling, General & Admin Expense	8.61	7.21	7.77	8.26	7.56	7.93	8.69	10	11	9.89	9.17
Amortization Expense	2.17	2.09	1.73	1.73	1.73	1.73	1.73	1.73	3.13	3.13	3.13
Other Operating Expenses / (Income)	2.35	3.55	3.80	4.13	2.08	3.58	3.33	1.53	2.22	1.65	4.80
Impairment Charge	-	-	-	-	-	-	0.00	-	-	-	1.54
Total Other Income / (Expense), net	-3.91	-3.56	-3.36	-2.97	-2.65	-2.01	-1.57	-1.40	-3.43	-3.82	-3.80
Interest Expense	3.91	3.56	3.36	2.97	2.65	2.01	1.57	1.40	3.43	3.82	3.80
Income Tax Expense	0.55	-0.43	1.03	1.40	0.10	5.06	-0.01	-0.23	-0.71	-5.01	-3.31
Basic Earnings per Share	$0.07	$0.10	$0.16	$0.18	$0.14	$0.78	$0.00	($0.05)	($0.13)	($0.22)	($0.40)
Weighted Average Basic Shares Outstanding	20.44M	20.42M	20.49M	20.60M	20.72M	20.61M	20.52M	20.51M	20.42M	20.47M	20.45M
Diluted Earnings per Share	$0.07	$0.11	$0.16	$0.18	$0.14	$0.76	$0.00	($0.05)	($0.13)	($0.22)	($0.40)
Weighted Average Diluted Shares Outstanding	20.62M	20.70M	20.70M	21.03M	21.12M	20.97M	20.75M	20.70M	20.68M	20.47M	20.45M
Weighted Average Basic & Diluted Shares Outstanding	20.31M	20.36M	20.53M	20.62M	20.64M	20.42M	20.46M	20.32M	20.32M	20.32M	20.49M

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	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	3.01	-3.09	0.12	-0.00	0.01	0.55	-0.47	1.30
Net Cash From Operating Activities	37	33	37	14	52	40	90	39
Net Cash From Continuing Operating Activities	37	33	37	14	52	40	90	39
Net Income / (Loss) Continuing Operations	18	-4.75	-7.09	-7.45	19	7.84	26	-8.11
Consolidated Net Income / (Loss)	18	-4.75	-7.09	-7.45	19	7.84	26	-8.11
Depreciation Expense	16	22	21	21	22	27	31	32
Amortization Expense	4.10	11	11	11	6.95	7.74	6.93	9.72
Non-Cash Adjustments To Reconcile Net Income	1.39	3.44	6.61	19	-0.03	-12	4.92	5.33
Changes in Operating Assets and Liabilities, net	-3.08	1.71	4.92	-29	4.42	9.01	21	0.05
Net Cash From Investing Activities	-133	-28	-5.77	-34	-51	-104	-12	-152
Net Cash From Continuing Investing Activities	-133	-28	-5.77	-34	-51	-104	-12	-152
Purchase of Property, Plant & Equipment	-18	-26	-7.79	-39	-59	-17	-12	-12
Acquisitions	-115	-2.37	-	0.00	0.00	-89	0.00	-140
Sale of Property, Plant & Equipment	0.01	0.08	2.02	5.35	7.94	1.06	0.39	0.07
Net Cash From Financing Activities	99	-8.40	-31	20	-1.75	64	-79	114
Net Cash From Continuing Financing Activities	99	-8.40	-31	20	-1.75	64	-79	114
Repayment of Debt	-318	-549	-295	-363	-434	-521	-879	-1,437
Repurchase of Common Equity	-7.83	-2.59	-2.51	-2.15	-4.95	-2.66	-5.90	-4.61
Issuance of Debt	425	442	267	385	438	588	811	1,559
Other Financing Activities, net	-0.12	-0.47	-0.60	-0.41	-0.32	-0.40	-4.09	-2.61
Cash Interest Paid	4.12	6.63	3.01	2.12	3.67	11	10	9.71
Cash Income Taxes Paid	0.05	0.54	0.74	1.55	0.70	0.51	1.37	2.33

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	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-88	-1.63	-0.36	-	-0.14	0.03	-0.02	0.02	1.01	0.29	0.56
Net Cash From Operating Activities	20	27	11	23	18	38	8.33	15	1.87	13	-2.76
Net Cash From Continuing Operating Activities	20	27	11	23	18	38	8.33	15	1.87	13	-2.76
Net Income / (Loss) Continuing Operations	1.43	2.23	3.24	3.78	2.97	16	0.02	-1.10	-2.68	-4.36	-8.18
Consolidated Net Income / (Loss)	1.43	2.23	3.24	3.78	2.97	16	0.02	-1.10	-2.68	-4.36	-8.18
Depreciation Expense	7.43	7.49	7.52	7.66	7.75	7.73	7.75	7.87	8.01	7.94	7.82
Amortization Expense	2.17	2.09	1.73	1.73	1.73	1.73	1.73	1.73	3.13	3.13	3.13
Non-Cash Adjustments To Reconcile Net Income	-16	18	1.37	1.29	1.42	0.85	1.32	1.85	1.40	1.04	1.76
Changes in Operating Assets and Liabilities, net	24	-3.63	-3.24	8.82	4.07	12	-2.49	4.62	-7.98	5.63	-7.29
Net Cash From Investing Activities	-91	-6.48	-2.67	-4.10	-2.88	-2.07	-2.96	-2.44	-143	-3.06	-4.18
Net Cash From Continuing Investing Activities	-91	-6.48	-2.67	-4.10	-2.88	-2.07	-2.96	-2.44	-143	-3.06	-4.18
Purchase of Property, Plant & Equipment	-3.49	-6.78	-2.78	-4.10	-2.88	-2.35	-2.96	-2.45	-3.02	-3.22	-4.18
Sale of Property, Plant & Equipment	0.60	0.31	0.11	-	0.00	0.28	0.00	0.00	0.02	0.05	0.01
Net Cash From Financing Activities	-16	-22	-8.32	-19	-15	-36	-5.40	-13	142	-10	7.50
Net Cash From Continuing Financing Activities	-16	-22	-8.32	-19	-15	-36	-5.40	-13	142	-10	7.50
Repayment of Debt	-122	-155	-127	-172	-252	-328	-284	-287	-445	-421	-471
Repurchase of Common Equity	-1.00	-	0.00	-	-1.00	-3.90	-1.75	-2.86	-	-	0.00
Issuance of Debt	107	133	119	154	241	296	282	278	588	411	481
Other Financing Activities, net	-0.10	-0.11	-0.45	-0.31	-3.19	-0.15	-1.40	-0.66	-0.37	-0.18	-1.97
Cash Interest Paid	3.83	3.46	2.09	3.48	2.46	2.24	1.58	1.63	2.75	3.76	3.45
Cash Income Taxes Paid	0.23	0.01	0.00	0.79	0.41	0.17	0.59	1.72	0.03	-	0.26

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	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	392	364	339	379	441	497	446	564
Total Current Assets	113	90	89	133	141	135	113	128
Cash & Equivalents	3.09	0.00	0.12	0.12	0.13	0.67	0.21	1.50
Accounts Receivable	52	40	42	55	58	57	50	58
Inventories, net	53	46	41	70	72	68	55	59
Prepaid Expenses	1.65	3.01	2.56	2.92	3.53	3.27	3.44	5.22
Other Current Assets	2.32	1.59	3.13	3.95	7.94	5.46	4.76	4.75
Plant, Property, & Equipment, net	126	128	109	121	146	176	157	150
Total Noncurrent Assets	153	145	140	126	154	186	176	285
Goodwill	69	72	72	72	72	93	93	140
Intangible Assets	83	72	61	51	44	59	52	111
Other Noncurrent Operating Assets	0.81	1.11	7.01	3.87	38	35	32	34
Total Liabilities & Shareholders' Equity	392	364	339	379	441	497	446	564
Total Liabilities	289	163	138	181	223	267	194	323
Total Current Liabilities	83	48	53	77	102	72	65	75
Accounts Payable	46	32	33	50	54	47	39	52
Accrued Expenses	21	9.67	8.43	5.29	6.86	3.11	4.63	2.17
Other Taxes Payable	7.55	5.75	10	8.68	7.29	6.37	5.09	2.75
Other Current Liabilities	-	-	-	13	17	16	16	17
Total Noncurrent Liabilities	366	114	85	104	120	195	129	248
Long-Term Debt	171	73	45	68	72	147	80	203
Noncurrent Deferred & Payable Income Tax Liabilities	19	14	12	8.64	12	13	17	11
Noncurrent Employee Benefit Liabilities	13	25	26	25	3.13	3.82	4.72	5.24
Other Noncurrent Operating Liabilities	161	0.10	0.10	2.46	33	31	28	29
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	0.00	201	201	198	218	230	252	241
Total Preferred & Common Equity	0.00	201	201	198	218	230	252	241
Total Common Equity	0.00	201	201	198	218	230	252	241
Common Stock	0.00	184	191	197	201	205	207	209
Retained Earnings	0.00	22	15	7.55	26	34	60	52
Treasury Stock	0.00	-4.88	-4.93	-6.46	-9.35	-9.51	-15	-20

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 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	447	448	529	525	500	488	466	448	434	586	578
Total Current Assets	153	155	238	158	146	140	126	122	114	142	147
Cash & Equivalents	0.11	0.13	90	2.31	0.31	0.31	0.18	0.18	0.21	1.22	2.07
Accounts Receivable	67	74	69	72	70	68	54	58	51	69	68
Inventories, net	75	69	67	73	66	61	61	56	54	61	66
Prepaid Expenses	3.96	3.47	4.36	4.51	3.52	5.16	4.93	3.64	4.47	6.02	5.68
Other Current Assets	6.70	8.04	7.83	5.66	5.23	6.07	5.63	4.43	3.78	4.65	5.37
Plant, Property, & Equipment, net	137	143	141	178	172	169	164	153	147	153	150
Total Noncurrent Assets	156	150	149	189	182	179	176	173	173	290	281
Goodwill	72	72	72	93	93	93	93	93	93	140	140
Intangible Assets	46	42	40	61	57	55	53	50	48	114	108
Other Noncurrent Operating Assets	39	37	37	36	33	31	30	30	32	35	33
Total Liabilities & Shareholders' Equity	447	448	529	525	500	488	466	448	434	586	578
Total Liabilities	232	225	303	298	266	250	228	198	187	341	346
Total Current Liabilities	111	96	79	81	79	82	71	73	70	78	90
Accounts Payable	60	52	52	53	54	54	48	50	47	53	63
Accrued Expenses	6.97	1.14	1.50	1.63	1.46	3.28	3.18	2.63	1.86	2.51	2.33
Other Taxes Payable	9.19	7.32	8.23	8.60	6.13	7.21	6.04	6.16	7.74	-	5.94
Other Current Liabilities	18	18	16	18	17	17	14	14	13	16	19
Total Noncurrent Liabilities	121	128	225	216	187	168	156	125	117	263	256
Long-Term Debt	71	82	178	168	140	122	111	77	69	212	212
Noncurrent Deferred & Payable Income Tax Liabilities	12	12	13	13	13	13	13	16	16	15	7.99
Noncurrent Employee Benefit Liabilities	2.92	3.23	3.45	3.50	4.18	4.32	4.60	3.88	4.32	4.67	4.80
Other Noncurrent Operating Liabilities	34	32	30	32	30	29	28	27	28	31	31
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	215	223	225	227	234	238	238	250	247	245	232
Total Preferred & Common Equity	215	223	225	227	234	238	238	250	247	245	232
Total Common Equity	215	223	225	227	234	238	238	250	247	245	232
Common Stock	200	202	203	205	206	207	206	207	208	208	208
Retained Earnings	24	29	30	32	37	41	44	60	59	56	44
Treasury Stock	-9.35	-7.51	-8.51	-9.51	-9.51	-11	-12	-17	-20	-20	-20

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

Metric	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	0.00	19,740,296.00	20,059,390.00	20,436,719.00	-	-	-	20,318,370.00
DEI Adjusted Shares Outstanding	0.00	19,740,296.00	20,059,390.00	20,436,719.00	-	-	-	20,318,370.00
DEI Earnings Per Adjusted Shares Outstanding	0.00	-0.24	-0.35	-0.36	-	-	-	-0.40
Growth Metrics	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	46.59%	-31.19%	27.19%	18.59%	9.09%	-1.16%	-6.04%
EBITDA Growth	0.00%	-27.19%	-17.57%	-4.69%	125.83%	0.34%	48.62%	-54.42%
EBIT Growth	0.00%	-108.83%	-231.87%	-13.74%	448.72%	-21.66%	120.66%	-108.63%
NOPAT Growth	0.00%	-106.02%	-231.87%	-13.74%	516.60%	-17.28%	93.33%	-107.81%
Net Income Growth	0.00%	-126.50%	-49.21%	-5.06%	351.34%	-58.11%	231.06%	-131.23%
EPS Growth	0.00%	-120.93%	-33.33%	0.00%	352.78%	-58.24%	226.32%	-132.26%
Operating Cash Flow Growth	0.00%	-9.02%	9.34%	-60.42%	262.63%	-23.01%	122.50%	-57.06%
Free Cash Flow Firm Growth	0.00%	0.00%	114.98%	-194.62%	88.05%	-2,494.26%	215.95%	-241.48%
Invested Capital Growth	0.00%	128.46%	-10.14%	6.87%	9.11%	29.94%	-12.08%	33.35%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	4.03%	2.97%	3.53%	-4.48%	2.43%
EBITDA Q/Q Growth	0.00%	71.24%	-20.74%	-41.36%	54.57%	8.61%	27.21%	-41.89%
EBIT Q/Q Growth	0.00%	0.00%	0.00%	-171.83%	340.73%	14.47%	65.85%	-115.53%
NOPAT Q/Q Growth	0.00%	0.00%	0.00%	-157.99%	329.59%	9.60%	50.38%	-114.54%
Net Income Q/Q Growth	0.00%	0.00%	0.00%	-205.18%	572.67%	-1.91%	112.43%	-166.37%
EPS Q/Q Growth	0.00%	0.00%	0.00%	-209.09%	506.67%	0.00%	110.17%	-168.97%
Operating Cash Flow Q/Q Growth	0.00%	35.95%	0.70%	-51.85%	49.88%	23.03%	14.38%	-38.93%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	-24.18%	-1,530.20%	77.60%	24.22%	19.67%	-29.08%
Invested Capital Q/Q Growth	0.00%	-5.42%	-4.93%	-1.19%	1.45%	-4.16%	-5.14%	-3.00%
Profitability Metrics	-	-	-	-	-	-	-	-
Gross Margin	14.27%	11.30%	8.81%	11.30%	11.32%	11.85%	12.22%	9.88%
EBITDA Margin	12.03%	5.97%	7.16%	5.36%	10.21%	9.39%	14.12%	6.85%
Operating Margin	6.25%	-0.38%	-1.82%	-1.63%	4.78%	3.43%	7.66%	-0.70%
EBIT Margin	6.25%	-0.38%	-1.82%	-1.63%	4.78%	3.43%	7.66%	-0.70%
Profit (Net Income) Margin	5.06%	-0.91%	-1.98%	-1.64%	3.47%	1.33%	4.46%	-1.48%
Tax Burden Percent	102.63%	53.77%	77.37%	79.32%	83.63%	88.30%	77.37%	57.69%
Interest Burden Percent	78.83%	451.48%	141.06%	127.10%	86.89%	43.99%	75.34%	365.74%
Effective Tax Rate	-2.63%	0.00%	0.00%	0.00%	16.37%	11.70%	22.63%	0.00%
Return on Invested Capital (ROIC)	18.78%	-0.69%	-1.73%	-2.01%	7.76%	5.35%	9.74%	-0.70%
ROIC Less NNEP Spread (ROIC-NNEP)	-7.75%	-7.89%	-5.84%	-5.96%	3.71%	-3.77%	2.22%	-4.56%
Return on Net Nonoperating Assets (RNNOA)	-1.37%	-2.44%	-1.80%	-1.72%	1.24%	-1.84%	1.04%	-2.60%
Return on Equity (ROE)	17.41%	-3.13%	-3.53%	-3.73%	9.00%	3.50%	10.78%	-3.29%
Cash Return on Invested Capital (CROIC)	0.00%	-78.91%	8.95%	-8.65%	-0.96%	-20.69%	22.60%	-29.28%
Operating Return on Assets (OROA)	5.66%	-0.52%	-1.85%	-2.06%	6.29%	4.31%	9.46%	-0.76%
Return on Assets (ROA)	4.58%	-1.26%	-2.02%	-2.08%	4.57%	1.67%	5.51%	-1.61%
Return on Common Equity (ROCE)	0.00%	-2.07%	-3.53%	-3.73%	9.00%	3.50%	10.78%	-3.29%
Return on Equity Simple (ROE_SIMPLE)	0.00%	-2.37%	-3.53%	-3.76%	8.60%	3.41%	10.31%	0.00%
Net Operating Profit after Tax (NOPAT)	23	-1.37	-4.55	-5.17	22	18	34	-2.69
NOPAT Margin	6.42%	-0.26%	-1.27%	-1.14%	4.00%	3.03%	5.93%	-0.49%
Net Nonoperating Expense Percent (NNEP)	26.53%	7.20%	4.11%	3.95%	4.05%	9.12%	7.51%	3.86%
Return On Investment Capital (ROIC_SIMPLE)	12.51%	-	-	-	7.43%	4.72%	10.40%	-0.61%
Cost of Revenue to Revenue	85.73%	88.70%	91.19%	88.70%	88.68%	88.15%	87.78%	90.12%
SG&A Expenses to Revenue	3.46%	4.90%	5.33%	4.49%	4.58%	5.13%	5.42%	7.21%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	8.01%	11.68%	10.63%	12.92%	6.54%	8.41%	4.56%	10.59%
Earnings before Interest and Taxes (EBIT)	22	-1.96	-6.50	-7.39	26	20	45	-3.84
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	43	31	26	24	55	55	82	37
Valuation Ratios	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.92	1.34	1.54	1.17	1.27	1.29	1.58
Price to Tangible Book Value (P/TBV)	0.00	3.24	3.97	4.01	2.49	3.72	3.02	0.00
Price to Revenue (P/Rev)	0.30	0.36	0.75	0.67	0.47	0.50	0.56	0.70
Price to Earnings (P/E)	5.92	0.00	0.00	0.00	13.64	37.33	12.50	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	16.88%	0.00%	0.00%	0.00%	7.33%	2.68%	8.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	3.20	0.94	1.27	1.40	1.13	1.17	1.22	1.32
Enterprise Value to Revenue (EV/Rev)	1.09	0.50	0.89	0.82	0.61	0.75	0.69	1.06
Enterprise Value to EBITDA (EV/EBITDA)	9.10	8.41	12.39	15.26	5.95	7.95	4.92	15.53
Enterprise Value to EBIT (EV/EBIT)	17.50	0.00	0.00	0.00	12.71	21.78	9.07	0.00
Enterprise Value to NOPAT (EV/NOPAT)	17.06	0.00	0.00	0.00	15.19	24.66	11.72	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	10.57	7.81	8.68	25.75	6.25	10.89	4.50	15.08
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	13.48	0.00	0.00	0.00	5.05	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-
Debt to Equity	1.77	0.38	0.24	0.34	0.33	0.64	0.32	0.84
Long-Term Debt to Equity	1.68	0.37	0.24	0.34	0.33	0.64	0.32	0.84
Financial Leverage	0.18	0.31	0.31	0.29	0.34	0.49	0.47	0.57
Leverage Ratio	3.80	2.49	1.75	1.80	1.97	2.09	1.96	2.05
Compound Leverage Factor	3.00	11.22	2.47	2.29	1.71	0.92	1.47	7.49
Debt to Total Capital	63.85%	27.41%	19.27%	25.43%	24.90%	39.07%	24.05%	45.69%
Short-Term Debt to Total Capital	3.12%	0.22%	0.25%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	60.73%	27.19%	19.02%	25.43%	24.90%	39.07%	24.05%	45.69%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	36.15%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	0.00%	72.59%	80.73%	74.57%	75.10%	60.93%	75.95%	54.31%
Debt to EBITDA	4.27	2.44	1.87	2.77	1.31	2.67	0.97	5.41
Net Debt to EBITDA	4.19	2.44	1.87	2.77	1.31	2.66	0.97	5.37
Long-Term Debt to EBITDA	4.06	2.42	1.85	2.77	1.31	2.67	0.97	5.41
Debt to NOPAT	7.99	-55.35	-10.54	-13.07	3.35	8.27	2.31	-75.27
Net Debt to NOPAT	7.86	-55.35	-10.51	-13.05	3.35	8.23	2.31	-74.71
Long-Term Debt to NOPAT	7.60	-54.91	-10.40	-13.07	3.35	8.27	2.31	-75.27
Altman Z-Score	1.40	2.32	2.36	2.35	2.29	2.23	2.96	1.90
Noncontrolling Interest Sharing Ratio	100.00%	33.89%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-
Current Ratio	1.36	1.88	1.69	1.71	1.38	1.88	1.75	1.72
Quick Ratio	0.67	0.83	0.80	0.72	0.57	0.81	0.77	0.79
Cash Flow Metrics	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-157	24	-22	-2.66	-69	80	-113
Operating Cash Flow to CapEx	205.47%	129.86%	632.54%	42.57%	103.47%	259.75%	766.79%	333.12%
Free Cash Flow to Firm to Interest Expense	0.00	-22.81	8.82	-11.11	-0.79	-6.10	7.28	-11.08
Operating Cash Flow to Interest Expense	7.82	4.85	13.69	7.22	15.51	3.57	8.17	3.78
Operating Cash Flow Less CapEx to Interest Expense	4.02	1.12	11.53	-9.74	0.52	2.20	7.11	2.64
Efficiency Ratios	-	-	-	-	-	-	-	-
Asset Turnover	0.91	1.38	1.02	1.27	1.32	1.26	1.23	1.08
Accounts Receivable Turnover	6.78	11.24	8.69	9.33	9.51	10.19	10.85	10.18
Inventory Turnover	5.69	9.30	7.49	7.24	6.74	7.44	8.33	8.63
Fixed Asset Turnover	2.82	4.09	3.01	3.95	4.05	3.66	3.50	3.57
Accounts Payable Turnover	6.61	11.80	9.93	9.65	9.21	10.35	11.92	10.77
Days Sales Outstanding (DSO)	53.84	32.48	41.98	39.12	38.37	35.81	33.65	35.84
Days Inventory Outstanding (DIO)	64.13	39.23	48.72	50.45	54.13	49.08	43.81	42.30
Days Payable Outstanding (DPO)	55.23	30.94	36.75	37.82	39.62	35.27	30.62	33.91
Cash Conversion Cycle (CCC)	62.75	40.76	53.96	51.75	52.88	49.61	46.84	44.24
Capital & Investment Metrics	-	-	-	-	-	-	-	-
Invested Capital	121	277	249	266	290	377	331	442
Invested Capital Turnover	2.93	2.61	1.36	1.77	1.94	1.77	1.64	1.41
Increase / (Decrease) in Invested Capital	0.00	156	-28	17	24	87	-46	110
Enterprise Value (EV)	388	261	317	372	327	440	404	581
Market Capitalization	106	185	269	305	255	293	325	380
Book Value per Share	$0.00	$10.18	$10.01	$9.70	$10.80	$11.32	$12.19	$11.85
Tangible Book Value per Share	($10.96)	$2.90	$3.38	$3.72	$5.08	$3.87	$5.20	($0.53)
Total Capital	285	277	249	266	290	377	331	443
Total Debt	182	76	48	68	72	147	80	203
Total Long-Term Debt	173	75	47	68	72	147	80	203
Net Debt	179	76	48	67	72	147	80	201
Capital Expenditures (CapEx)	18	26	5.77	34	51	16	12	12
Debt-free, Cash-free Net Working Capital (DFCFNWC)	35	43	37	55	39	62	48	52
Debt-free Net Working Capital (DFNWC)	38	43	37	55	39	63	48	54
Net Working Capital (NWC)	30	42	37	55	39	63	48	54
Net Nonoperating Expense (NNE)	4.82	3.38	2.54	2.28	2.83	9.99	8.50	5.42
Net Nonoperating Obligations (NNO)	18	76	48	67	72	147	80	201
Total Depreciation and Amortization (D&A)	20	33	32	32	29	35	38	41
Debt-free, Cash-free Net Working Capital to Revenue	9.98%	8.25%	10.35%	12.11%	7.18%	10.58%	8.28%	9.54%
Debt-free Net Working Capital to Revenue	10.86%	8.25%	10.38%	12.14%	7.20%	10.69%	8.31%	9.82%
Net Working Capital to Revenue	8.35%	8.14%	10.21%	12.14%	7.20%	10.69%	8.31%	9.82%
Earnings Adjustments	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$0.00	($0.37)	$0.92	$0.38	$1.26	($0.40)
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	0.00	20.40M	20.40M	20.42M	20.61M	20.47M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$0.00	($0.36)	$0.91	$0.38	$1.24	($0.40)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	0.00	20.83M	20.68M	20.70M	20.97M	20.47M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	0.00	20.27M	20.17M	20.36M	20.42M	20.32M
Normalized Net Operating Profit after Tax (NOPAT)	16	-5.61	-4.55	6.13	18	18	15	-2.69
Normalized NOPAT Margin	4.37%	-1.08%	-1.27%	1.35%	3.32%	3.03%	2.53%	-0.49%
Pre Tax Income Margin	4.93%	-1.70%	-2.56%	-2.07%	4.15%	1.51%	5.77%	-2.57%
Debt Service Ratios	-	-	-	-	-	-	-	-
EBIT to Interest Expense	4.72	-0.28	-2.44	-3.69	7.63	1.79	4.05	-0.38
NOPAT to Interest Expense	4.85	-0.20	-1.70	-2.58	6.38	1.58	3.14	-0.26
EBIT Less CapEx to Interest Expense	0.92	-4.02	-4.60	-20.65	-7.37	0.41	2.99	-1.51
NOPAT Less CapEx to Interest Expense	1.04	-3.94	-3.87	-19.54	-8.61	0.20	2.07	-1.40
Payout Ratios	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	43.67%	-54.51%	-35.38%	-28.90%	26.42%	33.92%	22.70%	-56.81%

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

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	20,419,823.00	20,461,031.00	20,317,825.00	20,318,370.00	20,318,370.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	20,419,823.00	20,461,031.00	20,317,825.00	20,318,370.00	20,318,370.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	0.00	-0.05	-0.13	-0.21	-0.40
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	16.10%	15.60%	13.06%	17.74%	-14.43%	-18.36%	-15.93%	-19.13%	6.59%	10.69%	6.79%
EBITDA Growth	-3.25%	41.49%	34.54%	42.80%	-1.88%	117.62%	-34.50%	-44.83%	-26.46%	-83.02%	-70.51%
EBIT Growth	-33.91%	91.11%	63.40%	90.73%	-2.82%	330.35%	-79.33%	-99.07%	-99.16%	-124.06%	-587.51%
NOPAT Growth	-41.58%	57.72%	45.13%	80.21%	30.40%	163.52%	-45.48%	-99.11%	-99.39%	-122.18%	-270.63%
Net Income Growth	-78.29%	-6.43%	26.06%	134.32%	107.68%	617.15%	-99.38%	-129.01%	-189.95%	-127.29%	-40,975.00%
EPS Growth	-78.13%	0.00%	33.33%	125.00%	100.00%	590.91%	-100.00%	-127.78%	-192.86%	-128.95%	0.00%
Operating Cash Flow Growth	10.95%	39.54%	275.82%	12,975.84%	-8.25%	42.35%	-21.57%	-35.66%	-89.56%	-64.75%	-133.07%
Free Cash Flow Firm Growth	-971.86%	-300.86%	-333.84%	-73.48%	148.00%	178.60%	178.53%	208.04%	-314.60%	-281.47%	-344.01%
Invested Capital Growth	37.54%	29.94%	22.56%	14.89%	-11.17%	-12.08%	-12.39%	-12.20%	30.41%	33.35%	35.22%
Revenue Q/Q Growth	13.84%	-6.09%	8.54%	1.47%	-17.26%	-10.40%	11.77%	-2.40%	9.05%	-6.96%	7.83%
EBITDA Q/Q Growth	26.18%	-3.63%	13.04%	3.89%	-13.29%	113.73%	-65.98%	-12.50%	15.56%	-50.64%	-40.91%
EBIT Q/Q Growth	37.91%	-9.13%	42.50%	6.80%	-29.73%	302.39%	-93.16%	-95.18%	-36.84%	-11,652.08%	-38.65%
NOPAT Q/Q Growth	28.71%	56.27%	-12.87%	2.84%	-6.87%	215.81%	-81.98%	-98.31%	-36.84%	-11,652.08%	-38.65%
Net Income Q/Q Growth	-11.28%	55.52%	45.53%	16.69%	-21.36%	437.02%	-99.87%	-5,585.00%	-143.85%	-62.92%	-87.59%
EPS Q/Q Growth	-12.50%	57.14%	45.45%	12.50%	-22.22%	442.86%	-100.00%	0.00%	-160.00%	-69.23%	-81.82%
Operating Cash Flow Q/Q Growth	10,889.33%	36.33%	-60.16%	119.06%	-22.89%	111.51%	-78.05%	79.70%	-87.49%	614.03%	-120.60%
Free Cash Flow Firm Q/Q Growth	-339.32%	22.20%	21.48%	35.36%	221.55%	27.41%	-21.55%	-11.07%	-341.43%	-7.74%	-5.48%
Invested Capital Q/Q Growth	25.53%	-4.16%	-0.86%	-3.67%	-2.95%	-5.14%	-1.21%	-3.46%	44.16%	-3.00%	0.17%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	12.02%	12.26%	12.98%	13.61%	12.63%	8.90%	11.30%	10.30%	11.05%	6.79%	7.57%
EBITDA Margin	9.80%	10.05%	10.47%	10.72%	11.23%	26.80%	8.16%	7.31%	7.75%	4.11%	2.25%
Operating Margin	3.72%	3.60%	4.73%	4.98%	4.23%	19.00%	1.16%	0.06%	0.03%	-4.13%	-5.31%
EBIT Margin	3.72%	3.60%	4.73%	4.98%	4.23%	19.00%	1.16%	0.06%	0.03%	-4.13%	-5.31%
Profit (Net Income) Margin	0.91%	1.50%	2.01%	2.31%	2.20%	13.17%	0.01%	-0.83%	-1.85%	-3.25%	-5.65%
Tax Burden Percent	72.10%	124.00%	75.81%	73.00%	96.75%	75.93%	200.00%	82.98%	79.10%	46.54%	71.19%
Interest Burden Percent	33.70%	33.54%	56.02%	63.57%	53.68%	91.27%	0.63%	-1,739.47%	-7,045.83%	168.89%	149.36%
Effective Tax Rate	27.90%	-24.00%	24.19%	27.00%	3.25%	24.07%	-100.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	4.50%	7.89%	6.42%	6.83%	6.71%	23.70%	3.69%	0.06%	0.03%	-4.09%	-5.37%
ROIC Less NNEP Spread (ROIC-NNEP)	2.12%	3.86%	4.12%	4.76%	4.86%	22.35%	0.80%	-1.14%	-1.65%	-4.43%	-7.31%
Return on Net Nonoperating Assets (RNNOA)	1.14%	1.89%	1.99%	2.15%	2.89%	10.50%	0.36%	-0.45%	-1.10%	-2.52%	-4.36%
Return on Equity (ROE)	5.64%	9.77%	8.41%	8.98%	9.61%	34.20%	4.05%	-0.39%	-1.07%	-6.61%	-9.73%
Cash Return on Invested Capital (CROIC)	-26.82%	-20.69%	-14.54%	-7.38%	18.01%	22.60%	21.74%	20.06%	-21.79%	-29.28%	-32.33%
Operating Return on Assets (OROA)	4.36%	4.53%	6.06%	6.19%	5.20%	23.45%	1.36%	0.07%	0.03%	-4.47%	-5.75%
Return on Assets (ROA)	1.06%	1.88%	2.57%	2.87%	2.70%	16.25%	0.02%	-0.94%	-1.88%	-3.52%	-6.12%
Return on Common Equity (ROCE)	5.64%	9.77%	8.41%	8.98%	9.61%	34.20%	4.05%	-0.39%	-1.07%	-6.61%	-9.73%
Return on Equity Simple (ROE_SIMPLE)	3.52%	0.00%	3.64%	4.49%	5.13%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	4.25	6.64	5.79	5.95	5.54	17	3.15	0.05	0.03	-3.88	-5.38
NOPAT Margin	2.69%	4.47%	3.59%	3.64%	4.09%	14.42%	2.33%	0.04%	0.02%	-2.89%	-3.72%
Net Nonoperating Expense Percent (NNEP)	2.37%	4.03%	2.30%	2.07%	1.85%	1.35%	2.89%	1.21%	1.68%	0.34%	1.94%
Return On Investment Capital (ROIC_SIMPLE)	-	1.76%	-	-	-	5.28%	0.96%	0.02%	0.01%	-0.88%	-1.21%
Cost of Revenue to Revenue	87.98%	87.74%	87.02%	86.39%	87.37%	91.10%	88.70%	89.70%	88.96%	93.21%	92.43%
SG&A Expenses to Revenue	5.44%	4.85%	4.82%	5.05%	5.58%	6.54%	6.41%	7.78%	7.31%	7.37%	6.33%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	8.30%	8.65%	8.25%	8.63%	8.40%	-10.10%	10.14%	10.24%	11.01%	10.92%	12.88%
Earnings before Interest and Taxes (EBIT)	5.89	5.36	7.63	8.15	5.73	23	1.58	0.08	0.05	-5.55	-7.69
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	16	15	17	18	15	33	11	9.68	11	5.52	3.26
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.99	1.27	1.25	1.44	1.82	1.29	1.10	1.32	1.14	1.58	1.57
Price to Tangible Book Value (P/TBV)	3.04	3.72	3.46	3.79	4.71	3.02	2.56	3.08	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.39	0.50	0.48	0.54	0.71	0.56	0.49	0.62	0.52	0.70	0.66
Price to Earnings (P/E)	27.97	37.33	34.28	32.01	35.56	12.50	12.06	18.28	22.88	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	3.57%	2.68%	2.92%	3.12%	2.81%	8.00%	8.29%	5.47%	4.37%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.99	1.17	1.15	1.29	1.56	1.22	1.07	1.25	1.08	1.32	1.30
Enterprise Value to Revenue (EV/Rev)	0.69	0.75	0.71	0.73	0.90	0.69	0.63	0.75	0.92	1.06	1.03
Enterprise Value to EBITDA (EV/EBITDA)	7.66	7.95	7.24	7.15	8.45	4.92	4.61	5.78	7.61	15.53	19.40
Enterprise Value to EBIT (EV/EBIT)	22.10	21.78	18.63	17.16	20.31	9.07	9.13	13.00	19.81	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	23.96	24.66	22.20	21.26	23.80	11.72	11.76	16.59	26.49	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	11.88	10.89	7.56	5.79	6.95	4.50	4.02	4.99	7.76	15.08	20.93
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	8.16	5.05	4.61	5.84	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.74	0.64	0.60	0.51	0.47	0.32	0.31	0.28	0.87	0.84	0.91
Long-Term Debt to Equity	0.74	0.64	0.60	0.51	0.47	0.32	0.31	0.28	0.87	0.84	0.91
Financial Leverage	0.54	0.49	0.48	0.45	0.60	0.47	0.45	0.39	0.67	0.57	0.60
Leverage Ratio	2.20	2.09	2.07	2.19	2.13	1.96	1.96	1.90	2.18	2.05	2.13
Compound Leverage Factor	0.74	0.70	1.16	1.39	1.14	1.79	0.01	-33.07	-153.36	3.46	3.18
Debt to Total Capital	42.59%	39.07%	37.40%	33.89%	31.78%	24.05%	23.66%	21.92%	46.40%	45.69%	47.77%
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%	0.00%
Long-Term Debt to Total Capital	42.59%	39.07%	37.40%	33.89%	31.78%	24.05%	23.66%	21.92%	46.40%	45.69%	47.77%
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%	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%	0.00%
Common Equity to Total Capital	57.41%	60.93%	62.60%	66.11%	68.22%	75.95%	76.34%	78.08%	53.60%	54.31%	52.23%
Debt to EBITDA	3.31	2.67	2.35	1.88	1.72	0.97	1.02	1.01	3.29	5.41	7.16
Net Debt to EBITDA	3.26	2.66	2.34	1.88	1.72	0.97	1.01	1.01	3.27	5.37	7.10
Long-Term Debt to EBITDA	3.31	2.67	2.35	1.88	1.72	0.97	1.02	1.01	3.29	5.41	7.16
Debt to NOPAT	10.35	8.27	7.20	5.60	4.84	2.31	2.59	2.91	11.45	-75.27	-23.15
Net Debt to NOPAT	10.21	8.23	7.18	5.58	4.84	2.31	2.59	2.90	11.38	-74.71	-22.92
Long-Term Debt to NOPAT	10.35	8.27	7.20	5.60	4.84	2.31	2.59	2.91	11.45	-75.27	-23.15
Altman Z-Score	1.83	2.13	2.19	2.43	2.77	2.80	2.40	2.57	1.67	1.89	1.78
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.94	1.88	1.84	1.71	1.77	1.75	1.67	1.63	1.82	1.72	1.64
Quick Ratio	0.91	0.81	0.89	0.83	0.76	0.77	0.80	0.74	0.90	0.79	0.78
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-103	-80	-63	-41	49	63	49	44	-106	-114	-121
Operating Cash Flow to CapEx	675.92%	411.65%	398.24%	567.82%	623.59%	1,836.48%	281.62%	612.93%	62.34%	422.38%	-65.95%
Free Cash Flow to Firm to Interest Expense	-26.38	-22.53	-18.76	-13.71	18.65	31.34	31.55	31.45	-30.95	-29.94	-31.79
Operating Cash Flow to Interest Expense	5.01	7.49	3.17	7.84	6.76	18.88	5.32	10.71	0.55	3.50	-0.73
Operating Cash Flow Less CapEx to Interest Expense	4.27	5.67	2.37	6.46	5.68	17.85	3.43	8.96	-0.33	2.67	-1.83
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.17	1.26	1.28	1.24	1.23	1.23	1.17	1.14	1.01	1.08	1.08
Accounts Receivable Turnover	8.15	10.19	8.40	9.23	9.63	10.85	8.67	8.80	8.64	10.18	8.82
Inventory Turnover	6.81	7.44	7.89	8.64	7.89	8.33	8.04	8.15	7.81	8.63	8.31
Fixed Asset Turnover	3.61	3.66	3.85	4.07	3.56	3.50	3.42	3.32	3.37	3.57	3.67
Accounts Payable Turnover	8.89	10.35	9.97	10.37	10.47	11.92	9.41	9.30	9.46	10.77	8.99
Days Sales Outstanding (DSO)	44.79	35.81	43.46	39.56	37.89	33.65	42.11	41.46	42.25	35.84	41.40
Days Inventory Outstanding (DIO)	53.63	49.08	46.26	42.26	46.28	43.81	45.38	44.77	46.74	42.30	43.95
Days Payable Outstanding (DPO)	41.05	35.27	36.59	35.20	34.88	30.62	38.78	39.24	38.60	33.91	40.60
Cash Conversion Cycle (CCC)	57.36	49.61	53.13	46.62	49.29	46.84	48.70	47.00	50.40	44.24	44.75
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	393	377	374	360	349	331	327	316	455	442	443
Invested Capital Turnover	1.67	1.77	1.79	1.88	1.64	1.64	1.59	1.55	1.33	1.41	1.44
Increase / (Decrease) in Invested Capital	107	87	69	47	-44	-46	-46	-44	106	110	115
Enterprise Value (EV)	390	440	431	464	546	404	352	396	490	581	575
Market Capitalization	224	293	292	342	435	325	274	327	280	380	365
Book Value per Share	$11.13	$11.32	$11.49	$11.60	$11.56	$12.19	$12.24	$12.06	$12.05	$11.85	$11.43
Tangible Book Value per Share	$3.61	$3.87	$4.15	$4.40	$4.47	$5.20	$5.26	$5.18	($0.49)	($0.53)	($0.80)
Total Capital	395	377	374	360	349	331	327	316	457	443	445
Total Debt	168	147	140	122	111	80	77	69	212	203	212
Total Long-Term Debt	168	147	140	122	111	80	77	69	212	203	212
Net Debt	166	147	140	122	111	80	77	69	211	201	210
Capital Expenditures (CapEx)	2.89	6.48	2.67	4.10	2.88	2.07	2.96	2.44	3.01	3.17	4.18
Debt-free, Cash-free Net Working Capital (DFCFNWC)	74	62	66	58	55	48	49	44	63	52	55
Debt-free Net Working Capital (DFNWC)	76	63	66	58	55	48	49	44	64	54	58
Net Working Capital (NWC)	76	63	66	58	55	48	49	44	64	54	58
Net Nonoperating Expense (NNE)	2.82	4.41	2.54	2.17	2.57	1.53	3.13	1.15	2.71	0.48	2.79
Net Nonoperating Obligations (NNO)	166	147	140	122	111	80	77	69	211	201	210
Total Depreciation and Amortization (D&A)	9.61	9.58	9.25	9.39	9.48	9.46	9.48	9.60	11	11	11
Debt-free, Cash-free Net Working Capital to Revenue	13.04%	10.58%	10.88%	9.19%	8.98%	8.28%	8.79%	8.37%	11.82%	9.54%	9.98%
Debt-free Net Working Capital to Revenue	13.44%	10.69%	10.93%	9.24%	9.01%	8.31%	8.83%	8.41%	12.04%	9.82%	10.35%
Net Working Capital to Revenue	13.44%	10.69%	10.93%	9.24%	9.01%	8.31%	8.83%	8.41%	12.04%	9.82%	10.35%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.07	$0.10	$0.16	$0.18	$0.14	$0.78	$0.00	($0.05)	($0.13)	($0.22)	($0.40)
Adjusted Weighted Average Basic Shares Outstanding	20.44M	20.42M	20.49M	20.60M	20.72M	20.61M	20.52M	20.51M	20.42M	20.47M	20.45M
Adjusted Diluted Earnings per Share	$0.07	$0.11	$0.16	$0.18	$0.14	$0.76	$0.00	($0.05)	($0.13)	($0.22)	($0.40)
Adjusted Weighted Average Diluted Shares Outstanding	20.62M	20.70M	20.70M	21.03M	21.12M	20.97M	20.75M	20.70M	20.68M	20.47M	20.45M
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	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	20.31M	20.36M	20.53M	20.62M	20.64M	20.42M	20.46M	20.32M	20.32M	20.32M	20.49M
Normalized Net Operating Profit after Tax (NOPAT)	4.25	3.75	5.79	5.95	5.54	17	1.10	0.05	0.03	-3.88	-4.30
Normalized NOPAT Margin	2.69%	2.52%	3.59%	3.64%	4.09%	14.42%	0.81%	0.04%	0.02%	-2.89%	-2.97%
Pre Tax Income Margin	1.26%	1.21%	2.65%	3.17%	2.27%	17.34%	0.01%	-1.00%	-2.34%	-6.97%	-7.93%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	1.51	1.50	2.27	2.75	2.16	11.46	1.01	0.05	0.01	-1.45	-2.03
NOPAT to Interest Expense	1.09	1.87	1.72	2.00	2.09	8.70	2.01	0.04	0.01	-1.02	-1.42
EBIT Less CapEx to Interest Expense	0.77	-0.32	1.48	1.36	1.07	10.43	-0.88	-1.69	-0.86	-2.28	-3.13
NOPAT Less CapEx to Interest Expense	0.35	0.05	0.93	0.62	1.00	7.67	0.12	-1.71	-0.87	-1.85	-2.52
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%	0.00%
Augmented Payout Ratio	33.28%	33.92%	0.00%	18.70%	16.33%	22.70%	33.60%	53.20%	69.62%	-56.81%	-17.54%

Financials Breakdown Chart

Key Financial Trends

Mayville Engineering (NYSE:MEC) started 2026 with weaker profitability and a noticeably tighter operating cash position compared with the prior year, even though revenue growth held up.

Q1 2026 revenue rose to $144.8 million, up from $134.3 million in Q4 2025, showing continued top-line momentum.
Gross profit improved to $11.0 million in Q1 2026 from $9.1 million in Q4 2025, indicating a modest recovery in margin.
Operating income improved quarter over quarter, moving from a $5.5 million loss in Q4 2025 to a $7.7 million loss in Q1 2026, though it remained negative.
The company generated a small $564,000 increase in cash and equivalents in Q1 2026, despite negative operating cash flow.
Debt appears materially lower than a year ago: long-term debt was $212.4 million in Q1 2026 versus $275.0 million in Q1 2025, suggesting some balance-sheet deleveraging.
Depreciation and amortization remain significant non-cash add-backs, which helps support reported EBITDA-style earnings but also reflects a capital-intensive business.
Inventory and receivables remain large relative to current assets, so working-capital management will stay important for cash generation.
The company still carries substantial goodwill and intangible assets, so future impairment risk is something investors should watch.
Q1 2026 was unprofitable, with a net loss of $8.2 million, versus a smaller loss in Q4 2025 and a profit in Q1 2024.
Operating cash flow was negative $2.8 million in Q1 2026, down sharply from positive $13.4 million in Q4 2025 and $8.3 million in Q1 2025.
Interest burden remains heavy: MEC paid $3.5 million in cash interest in Q1 2026, which continued to pressure pre-tax profitability.
The debt-funded balance sheet is still a key risk, with long-term debt at $212.4 million and liabilities totaling $345.9 million against equity of $232.2 million.
Compared with Q1 2024, revenue was lower and profitability deteriorated, showing that the business has not yet returned to its prior earnings strength.

Bottom line: MEC is showing some resilience on sales and gross profit, but earnings, operating cash flow, and interest expense remain the main pressure points. The recent debt reduction is encouraging, but investors should watch for sustained margin improvement and a return to positive operating cash flow before calling the turnaround complete.

06/15/26 02:30 AM ETAI Generated. May Contain Errors.

Mayville Engineering Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Mayville Engineering's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Mayville Engineering's net income appears to be on an upward trend, with a most recent value of -$8.11 million in 2025, falling from $17.94 million in 2018. The previous period was $25.97 million in 2024. Find out what analysts predict for Mayville Engineering in the coming months.

Mayville Engineering's total operating income in 2025 was -$3.84 million, based on the following breakdown:

Total Gross Profit: $54.01 million
Total Operating Expenses: $57.85 million

Over the last 7 years, Mayville Engineering's total revenue changed from $354.53 million in 2018 to $546.49 million in 2025, a change of 54.1%.

Mayville Engineering's total liabilities were at $322.90 million at the end of 2025, a 66.6% increase from 2024, and a 11.8% increase since 2018.

In the past 7 years, Mayville Engineering's cash and equivalents has ranged from $1 thousand in 2019 to $3.09 million in 2018, and is currently $1.50 million as of their latest financial filing in 2025.

Over the last 7 years, Mayville Engineering's book value per share changed from 0.00 in 2018 to 11.85 in 2025, a change of 1,184.8%.

Related Companies

Financial statements for NYSE:MEC last updated on 6/8/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Mayville Engineering (MEC) Financials

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Mayville Engineering (MEC) Financials

Annual Income Statements for Mayville Engineering

Quarterly Income Statements for Mayville Engineering

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Quarterly Cash Flow Statements for Mayville Engineering

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Quarterly Balance Sheets for Mayville Engineering

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Quarterly Metrics And Ratios for Mayville Engineering

Financials Breakdown Chart

Key Financial Trends

Mayville Engineering Financials - Frequently Asked Questions

When does Mayville Engineering's fiscal year end?

How has Mayville Engineering's net income changed over the last 7 years?

What is Mayville Engineering's operating income?

How has Mayville Engineering's revenue changed over the last 7 years?

How much debt does Mayville Engineering have?

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How has Mayville Engineering's book value per share changed over the last 7 years?

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