Mayville Engineering Company, Inc.

Industrials
Industrial Specialties
www.mecinc.com

Earnings Score
Moat Score

Market Cap $353.11M
PE 29
Debt $NaN
Cash $178.00K
EV $NaN
FCF $61.98M

Earnings

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Sales & Net Margins

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Earnings	$12.22M
EBIT	$26.86M
ROE	5%
ROA	6%
FCF	$61.98M
Equity	$238.36M
Growth Stability	-367%
PE	28.89
PEG	1.03
PB	1.48
P/FCF	5.7
P/S	0.58
Price/Cash	0
Net Margins	2%
Gross Margins	13%
Op. Margins	4%
Earnings CAGR	2%
Sales Growth YoY	-14%
Sales Growth QoQ	-17%
Sales CAGR	8%
FCF CAGR	4%
Equity CAGR	9%
Earnings Stability	-0.4
Earnings Growth YoY	108%

Earnings Growth QoQ	-21%
Earnings CAGR 5Y	28%
Sales CAGR 5Y	10%
FCF CAGR 5Y	9%
Equity CAGR 5Y	4%
Earnings CAGR 3Y	12%
Sales CAGR 3Y	12%
FCF CAGR 3Y	53%
Equity CAGR 3Y	7%
Market Cap	$353.11M
Revenue	$608.88M
Assets	$466.00M
Cash	$178.00K
Shares Outstanding	20.6M
Earnings Score	6%
Moat Score	65%
Working Capital	54.88M
Current Ratio	1.77
Gross Profit	$78.52M
Shares Growth 3y	0%
Equity Growth QoQ	0%
Equity Growth YoY	5%

Assets & ROA

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Stockholders Equity & ROE

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Mayville Engineering Co Inc is involved in a manufacturing partner that provides a broad range of prototyping and tooling, production fabrication, coating, assembly, and aftermarket components. Its customers operate in diverse end markets, including heavy- and medium-duty commercial vehicles, construction, powersports, agriculture, military, and other end markets. Its services comprise stamping, shearing, fiber laser cutting, forming, drilling, tapping, grinding, tube bending, machining, welding, assembly, and logistic services.

SEC Filings

Direct access to Mayville Engineering Company, Inc. (MEC) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Mayville Engineering Company, Inc. compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Mayville Engineering Company, Inc. compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 2%

Stability -40%

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Mayville Engineering Company, Inc. Discounted Cash Flow

Fully customizable DCF calculator online for Mayville Engineering Company, Inc..

Years

Calculation mode

= $837M

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$62M	$65M	$68M	$70M	$74M	$77M	$80M	$84M	$87M	$91M	$95M	$952M
DCF		$59M	$56M	$53M	$50M	$48M	$45M	$43M	$41M	$39M	$37M	$367M
Value	$837M

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Net Margins	2%	5%	-1%	-2%	-2%	3%	1%	2%
ROA	-	6%	-1%	-2%	-2%	6%	4%	6%
ROE	-	17%	-2%	-4%	-4%	9%	3%	5%

Bad Net Margins (2.17%)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Debt over FCF	-	6.39	-	-	-	-	-	-
Debt over Equity	-	1.17	-	-	-	-	-	-
Growth Stability	-	-	-	-115%	-367%	-	100%	-367%

Neutral Debt/FCF ratio (-)

Net Margins are at a level that is not too high nor too low. They are not a competitive advantage but they are not a competitive disadvantage either.

Neutral Debt/Equity ratio (-)

The company has a balance between equity and debt that is not too good nor too bad.

Bad Graham’s Stability (-367%)

The company has a bad stability in its earnings, which is a sign of a bad competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	13%	47%	-31%	27%	19%	9%	10%
Earnings YoY growth	-	242%	-127%	49%	5%	-351%	-58%	28%
Equity YoY growth	-	-	95%	-0%	-1%	10%	6%	4%
FCF YoY growth	-	-4%	-60%	278%	-187%	-75%	-484%	9%