Mayville Engineering Company, Inc. (MEC) AI Stock Analysis

Mayville Engineering Company, Inc. is a contract manufacturer based in Mayville, Wisconsin, established in 1945. The company serves heavy and medium-duty commercial vehicle sectors, construction and access equipment, powersports, agriculture, military applications, and other industrial markets. Its operations cover prototyping, tooling, production fabrication, coating, assembly, and aftermarket component supply. In addition, the firm delivers engineered components to original equipment manufacturers (OEMs) to support customer manufacturing processes, enhance operational efficiency, and deliver tailored manufacturing solutions across key US industrial markets.

Over five years from FY2020 to FY2025, revenue achieved a CAGR of 8.9%. In FY2024, revenue stood at $581.6M with a net income of $26.0M and an operating margin of 7.7%. However, FY2025 revenue fell 6.0% to $546.5M, resulting in an operating margin of -0.7% and a net loss of -$8.1M. In the trailing twelve months, revenue was $586.3M with an operating margin of 0.3% and diluted EPS of -$0.83. For the latest quarter ended June 30, 2026, quarterly revenue rose 23.2% year-over-year, while quarterly earnings contracted by 99.4%.

As of June 30, 2026, Mayville Engineering held $2.2M in cash and short-term investments against total debt of $154.7M, resulting in net debt of $152.5M. Total assets stood at $588.6M against shareholders' equity of $325.5M, producing a debt-to-equity ratio of 0.48 and a current ratio of 1.70. In FY2025, operating cash flow was $38.6M and free cash flow was $26.9M. Cash deployment during FY2025 included $11.6M in capital expenditures and $4.6M allocated to share buybacks.

At $13.90 per share, Mayville Engineering has a market capitalization of $354.5M and an enterprise value of $597.5M. The stock trades at a forward P/E of 22.1x and an EV/EBITDA of 19.0x, compared to the median of its US-listed Industrials peers of 17.2x forward P/E and 13.9x EV/EBITDA. Its price-to-sales ratio of 0.6x sits below the peer median of 1.5x. Over the past year, MEC shares gained 10.7%, trailing the 16.8% return of the S&P 500 (SPY), while its 5-year return of -26.7% lagged the S&P 500's 83.0% advance.

All 5 analysts covering Mayville Engineering rate the stock a Strong Buy. The mean price target is $36.80, representing a 164.7% upside relative to the last close of $13.90. For the fiscal year ending December 31, 2026, consensus estimates project revenue of $636.1M and EPS of $0.26, an expected EPS decline of 16.6%. For the following year, 4 analysts forecast revenue of $725.6M and EPS of $1.02. Over the last four quarters, the company beat EPS estimates 2 times. The next earnings date is November 3, 2026.

This page is an AI-written research summary of Mayville Engineering Company, Inc. (MEC). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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