Mayville Engineering (MEC) Financials

$12.41 -0.13 (-1.07%)

Closing price 03:59 PM Eastern

Extended Trading

$12.42 +0.01 (+0.11%)

As of 04:02 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	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	19	7.84	26
Consolidated Net Income / (Loss)	19	7.84	26
Net Income / (Loss) Continuing Operations	19	7.84	26
Total Pre-Tax Income	22	8.88	34
Total Operating Income	26	20	45
Total Gross Profit	61	70	71
Total Revenue	539	588	582
Operating Revenue	539	588	582
Total Cost of Revenue	478	519	511
Operating Cost of Revenue	478	519	511
Total Operating Expenses	35	50	27
Selling, General & Admin Expense	25	30	32
Amortization Expense	6.95	7.74	6.93
Other Operating Expenses / (Income)	8.00	12	14
Impairment Charge	-4.35	0.00	0.00
Other Special Charges / (Income)	0.00	0.00	-26
Total Other Income / (Expense), net	-3.38	-11	-11
Interest Expense	3.38	11	11
Income Tax Expense	3.67	1.04	7.60
Basic Earnings per Share	$0.92	$0.38	$1.26
Weighted Average Basic Shares Outstanding	20.40M	20.42M	20.61M
Diluted Earnings per Share	$0.91	$0.38	$1.24
Weighted Average Diluted Shares Outstanding	20.68M	20.70M	20.97M
Weighted Average Basic & Diluted Shares Outstanding	20.17M	20.36M	20.42M

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

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

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

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

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

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

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

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

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

Frequently Asked Questions About Mayville Engineering's Financials

When does Mayville Engineering's fiscal year end?

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

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 4/15/2025 by MarketBeat.com Staff

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Mayville Engineering (MEC) Financials

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Mayville Engineering (MEC) Financials

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