Mayville Engineering Company, Inc. (MEC)

Model N Income Statement

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue	524.61	581.6	588.43	539.39	454.83	357.61
Revenue Growth (YoY)	-16.95%	-1.16%	9.09%	18.59%	27.19%	-31.19%
Cost of Revenue	461.13	504.25	510.93	478.32	398.17	318.34
Gross Profit	63.47	77.36	77.49	61.07	56.66	39.27
Selling, General & Admin	47.15	49.28	43.75	32.69	37.19	31.76
Operating Expenses	54.08	56.22	51.5	39.64	47.9	42.47
Operating Income	9.39	21.14	26	21.43	8.76	-3.2
Interest Expense	-7.63	-10.99	-11.09	-3.38	-2	-2.67
EBT Excluding Unusual Items	1.76	10.15	14.91	18.05	6.76	-5.87
Merger & Restructuring Charges	-2.38	-	-3.16	-	-	-2.52
Asset Writedown	-	-	-	4.35	-16.15	-0.78
Legal Settlements	23.41	23.41	-2.65	-	-	-
Other Unusual Items	-	-	-0.22	-	-	-
Pretax Income	22.8	33.56	8.88	22.39	-9.39	-9.17
Income Tax Expense	4.93	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	17.87	25.97	7.84	18.73	-7.45	-7.09
Net Income to Common	17.87	25.97	7.84	18.73	-7.45	-7.09
Net Income Growth	67.27%	231.06%	-58.11%	-	-	-
Shares Outstanding (Basic)	21	21	20	20	20	20
Shares Outstanding (Diluted)	21	21	21	21	20	20
Shares Change (YoY)	0.54%	1.32%	0.08%	1.36%	2.54%	14.05%
EPS (Basic)	0.87	1.26	0.38	0.92	-0.37	-0.36
EPS (Diluted)	0.86	1.24	0.38	0.91	-0.37	-0.36
EPS Growth	64.18%	226.32%	-58.24%	-	-	-
Free Cash Flow	68.58	77.71	23.77	-6.18	-24.85	28.73
Free Cash Flow Per Share	3.29	3.71	1.15	-0.30	-1.22	1.44
Gross Margin	12.10%	13.30%	13.17%	11.32%	12.46%	10.98%
Operating Margin	1.79%	3.64%	4.42%	3.97%	1.93%	-0.90%
Profit Margin	3.41%	4.46%	1.33%	3.47%	-1.64%	-1.98%
Free Cash Flow Margin	13.07%	13.36%	4.04%	-1.15%	-5.46%	8.03%
EBITDA	47.42	58.73	61.08	50.74	40.54	28.89
EBITDA Margin	9.04%	10.10%	10.38%	9.41%	8.91%	8.08%
D&A For EBITDA	38.03	37.59	35.08	29.31	31.78	32.09
EBIT	9.39	21.14	26	21.43	8.76	-3.2
EBIT Margin	1.79%	3.64%	4.42%	3.97%	1.93%	-0.89%
Effective Tax Rate	21.62%	22.63%	11.70%	16.38%	-	-
Advertising Expenses	-	0.11	0.14	0.17	0.16	0.1

Updated May 7, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q