Mayville Engineering Company, Inc. (MEC)

MEC Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue	581.6	588.43	539.39	454.83	357.61
Revenue Growth (YoY)	-1.16%	9.09%	18.59%	27.19%	-31.19%
Cost of Revenue	504.25	510.93	478.32	398.17	318.34
Gross Profit	77.36	77.49	61.07	56.66	39.27
Selling, General & Admin	49.28	43.75	32.69	37.19	31.76
Operating Expenses	56.22	51.5	39.64	47.9	42.47
Operating Income	21.14	26	21.43	8.76	-3.2
Interest Expense	-10.99	-11.09	-3.38	-2	-2.67
EBT Excluding Unusual Items	10.15	14.91	18.05	6.76	-5.87
Merger & Restructuring Charges	-	-3.16	-	-	-2.52
Asset Writedown	-	-	4.35	-16.15	-0.78
Legal Settlements	23.41	-2.65	-	-	-
Other Unusual Items	-	-0.22	-	-	-
Pretax Income	33.56	8.88	22.39	-9.39	-9.17
Income Tax Expense	7.6	1.04	3.67	-1.94	-2.07
Earnings From Continuing Operations	25.97	7.84	18.73	-7.45	-7.09
Net Income	25.97	7.84	18.73	-7.45	-7.09
Net Income to Common	25.97	7.84	18.73	-7.45	-7.09
Net Income Growth	231.06%	-58.11%	-	-	-
Shares Outstanding (Basic)	21	20	20	20	20
Shares Outstanding (Diluted)	21	21	21	20	20
Shares Change (YoY)	1.32%	0.08%	1.36%	2.54%	14.05%
EPS (Basic)	1.26	0.38	0.92	-0.37	-0.36
EPS (Diluted)	1.24	0.38	0.91	-0.37	-0.36
EPS Growth	226.32%	-58.24%	-	-	-
Free Cash Flow	77.71	23.77	-6.18	-24.85	28.73
Free Cash Flow Per Share	3.71	1.15	-0.30	-1.22	1.44
Gross Margin	13.30%	13.17%	11.32%	12.46%	10.98%
Operating Margin	3.64%	4.42%	3.97%	1.93%	-0.90%
Profit Margin	4.46%	1.33%	3.47%	-1.64%	-1.98%
Free Cash Flow Margin	13.36%	4.04%	-1.15%	-5.46%	8.03%
EBITDA	58.73	61.08	50.74	40.54	28.89
EBITDA Margin	10.10%	10.38%	9.41%	8.91%	8.08%
D&A For EBITDA	37.59	35.08	29.31	31.78	32.09
EBIT	21.14	26	21.43	8.76	-3.2
EBIT Margin	3.64%	4.42%	3.97%	1.93%	-0.89%
Effective Tax Rate	22.63%	11.70%	16.38%	-	-
Advertising Expenses	0.11	0.14	0.17	0.16	0.1

Updated Mar 6, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q