Mayville Engineering Company, Inc. (MEC) Stock

Mayville Engineering Company, Inc. (MEC) is a Industrials stock trading at $22.64 (as of 2026-08-20), with a market capitalization of $577.33M. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Mayville Engineering Company, Inc., together with its subsidiaries, is a contract manufacturer serving the heavy and medium-duty commercial vehicle, construction and access equipment, powersports, agriculture, military, and other end markets in the United States. It offers prototyping and tooling, production fabrication, coating, assembly, and aftermarket components, and supplies engineered components to original equipment manufacturers.

Understand Mayville Engineering Company, Inc.: how it makes money

Mayville Engineering Company manufactures customized fabricated and engineered components for heavy and medium duty commercial vehicles, construction and access equipment, powersports, agriculture, and military end markets, and it makes money through contract manufacturing plus supplying engineered components to original equipment manufacturers (OEMs).

Its profit engine is connected to contract-manufacturing business sustainability, keeping recurring revenue through high retention while converting qualified opportunity pipeline into new project wins and awards that support continued customer demand.

Business quality (Weak): Operationally, the company shows negative operating margin in the latest quarter, but it also reports high recurring revenue retention, suggesting demand continuity even as profitability is under pressure.

Bull case

  • Recurring customer base: The company reports a Recurring Revenue Retention Rate of 97 percent (and 98 percent adjusted for E-Trade deconversion), indicating it keeps most recurring revenue over the measurement period.
  • Pipeline visible: It reports a Qualified Opportunity Pipeline of 0.12 USD_B and New Project Wins Booked of 0.08 USD_B, which together point to ongoing sales activity for future work.

Bear case

  • Profitability pressure: In the latest quarter, operating margin was -5.3 percent, and gross margin was 7.6 percent, indicating limited cushion between production economics and operating expenses.
  • Conversion gap risk: New Project Wins Booked (0.08 USD_B) and New Project Awards (0.05 USD_B) are both measured, and differences between wins and awards can reflect timing and execution risk in converting opportunities into funded programs.
Valuation — source: SEC EDGAR (first-party)
Price$22.64
Market Cap$577.33M
EV / EBITDA34.2
Price / Book1.77
Price / Sales0.97
FCF Yield-1.9%
DCF Value (model)$93.32
DCF Upside vs Price312.2%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$546.49M
Net Margin-1.5%
Revenue Growth (YoY)-6.0%
EPS Growth (YoY)-131.7%
FCF Growth (YoY)-65.4%
Financial Health — source: SEC EDGAR
Altman Z-Score2.05 (grey)
Valuation vs Sector & Industry
Sector P/E (Industrials)25.9
Industry P/E (Fabricated Products)25.3
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderAllspring Global Investments Holdings, LLC ($35.85M)
Institutional Holders Tracked10
Company
SectorIndustrials
IndustryFabricated Products
CEOJagadeesh A. Reddy
Employees2,200
CountryUS
IPO Date2019-05-09

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MEC earnings history · MEC institutional & insider holders · MEC KPIs & operating metrics · MEC financials · MEC investor presentations & press releases · MEC SEC filings · MEC peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.