Mayville Engineering Company, Inc. (MEC)

MEC 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	Mar 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue	555.91	581.6	588.43	539.39	454.83	357.61
Revenue Growth (YoY)	-8.42%	-1.16%	9.09%	18.59%	27.19%	-31.19%
Cost of Revenue	484.12	504.25	510.93	478.32	398.17	318.34
Gross Profit	71.8	77.36	77.49	61.07	56.66	39.27
Selling, General & Admin	50.26	49.28	43.75	32.69	37.19	31.76
Operating Expenses	57.19	56.22	51.5	39.64	47.9	42.47
Operating Income	14.61	21.14	26	21.43	8.76	-3.2
Interest Expense	-9.2	-10.99	-11.09	-3.38	-2	-2.67
EBT Excluding Unusual Items	5.41	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	23.89	23.41	-2.65	-	-	-
Other Unusual Items	-	-	-0.22	-	-	-
Pretax Income	29.3	33.56	8.88	22.39	-9.39	-9.17
Income Tax Expense	6.55	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	22.75	25.97	7.84	18.73	-7.45	-7.09
Net Income to Common	22.75	25.97	7.84	18.73	-7.45	-7.09
Net Income Growth	167.17%	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)	1.44%	1.32%	0.08%	1.36%	2.54%	14.05%
EPS (Basic)	1.10	1.26	0.38	0.92	-0.37	-0.36
EPS (Diluted)	1.08	1.24	0.38	0.91	-0.37	-0.36
EPS Growth	160.08%	226.32%	-58.24%	-	-	-
Free Cash Flow	75.23	77.71	23.77	-6.18	-24.85	28.73
Free Cash Flow Per Share	3.58	3.71	1.15	-0.30	-1.22	1.44
Gross Margin	12.91%	13.30%	13.17%	11.32%	12.46%	10.98%
Operating Margin	2.63%	3.64%	4.42%	3.97%	1.93%	-0.90%
Profit Margin	4.09%	4.46%	1.33%	3.47%	-1.64%	-1.98%
Free Cash Flow Margin	13.53%	13.36%	4.04%	-1.15%	-5.46%	8.03%
EBITDA	52.43	58.73	61.08	50.74	40.54	28.89
EBITDA Margin	9.43%	10.10%	10.38%	9.41%	8.91%	8.08%
D&A For EBITDA	37.82	37.59	35.08	29.31	31.78	32.09
EBIT	14.61	21.14	26	21.43	8.76	-3.2
EBIT Margin	2.63%	3.64%	4.42%	3.97%	1.93%	-0.89%
Effective Tax Rate	22.36%	22.63%	11.70%	16.38%	-	-
Advertising Expenses	-	0.11	0.14	0.17	0.16	0.1

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

SEC Filings: 10-K · 10-Q