MEC
Mayville Engineering Company, Inc.

Mayville Engineering Company, Inc.MEC

Industrials · Metal Fabrication
16.01USD
-0.31%
Nov 05, 2026
MEC overview ready
MEC is a domestic engineered-metal manufacturing enabler for critical-power and data-center OEMs, supplying fabricated enclosures, racks, frames, and subassemblies rather than owning the electrical or cooling system design.
Theme not measured
No economic group is assigned yet.
Price trend is broken
Longer-term context reads early recovery, with a near-term setup of reclaim attempt.
Fair valuation
The price broadly reflects how much growth and cash flow it delivers per turn of revenue multiple, with upside and risk….
Low free cash flow yield
Free cash flow yield is weak.
Primary risk
Exposure to cyclical industrial end markets.
Market Nov 4Price action Nov 4Research Nov 4

Conviction Level

Theme Momentum has no canonical measurement for this company — a research-profile dimension, not an input to this score.

PriceAction3.4BusinessPerformance7.0BusinessQuality4.8Valuation6.2ThemeMomentum—Improving — Revenue is growing at a steady pace (+18% year over year). Earnings turned positive: diluted EPS of $0.02 against a loss of -$0.13 a year earlier. — From filed financial statements. Describes the recent trajectory of the business, not the stock. 20 of the 100 Conviction points.

Conviction uses Price Action, Business Performance, Business Quality, Valuation. Theme Momentum is research context, not an input.

Theme momentumPrimary theme · group context, not entry timing
No economic group yet — pending research
Price
Loading price history…

Price Action

Price trend is broken
Longer-term context reads early recovery, with a near-term setup of reclaim attempt.
EntryWeak / unconfirmed recovery

The daily chart may be improving, but the weekly fast averages have not been reclaimed — the recovery is not yet confirmed on the higher timeframe.

Key Financials

Market Cap
$408.3M
Provider figure at the stated date
Avg Volume (60D)
539.3K
60 sessions
Revenue Growth YoY
+23.2%
Latest quarter
Gross Margin
+10.8%
Trailing twelve months
Operating Margin
+0.3%
Trailing twelve months
Free Cash Flow Yield
-2.0%
Provider figure at the stated date
Distance from 200DMA
-29.2%
EV / EBITDA
16.2x
Provider figure at the stated date
EV / Sales
1.0x
Provider figure at the stated date
Market metrics as of Nov 5, 2026

Business Performance

Improving

Revenue is growing at a steady pace (+18% year over year). Earnings turned positive: diluted EPS of $0.02 against a loss of -$0.13 a year earlier.

Latest reported: Q3 FY2026, ended Sep 30
Revenue growthGrowing
+18%
$170M in Q3 FY2026 · YoY
YoY growth, last 4 quarters
  1. +11%
  2. +6.8%
  3. +23%
  4. +18%
Earnings growthTurned profitable
$0.02
Diluted EPS $0.02 vs -$0.13 a year earlier · GAAP
Too few comparable EPS quarters: a loss or a turn to profit has no meaningful percentage.
Operating marginStable
2.5%
+2.5 pp YoY
The share count is rising

Fundamentals & Valuation

Only one valuation perspective could be built for this company, and it reads fair.
Mayville Engineering Company, Inc. has a Fair valuation stance because the price broadly reflects how much growth and cash flow it delivers per turn of revenue multiple, with upside and risk reasonably balanced.

Company Research

Thesis
MEC is a domestic engineered-metal manufacturing enabler for critical-power and data-center OEMs, supplying fabricated enclosures, racks, frames, and subassemblies rather than owning the electrical or cooling system design.
Opportunity
High opportunity
AI-driven data-center construction is increasing spending on the electrical distribution, backup-power, thermal-management, enclosure, rack, and structural systems required to deploy high-density compute capacity.
Key risk
Exposure to cyclical industrial end markets.

Economic classification

Loading the economic classification…

Business & Markets

Industrials · Metal Fabrication
What they do

Mayville Engineering Company designs, prototypes, fabricates, and assembles aftermarket engineered metal components primarily in the United States, supplying original equipment manufacturers across multiple industrial sectors.

How it earns

The company generates revenue through transactional sales of engineered metal components and assemblies to OEM customers.

Products & services
Metal fabrication
Aluminum extrusion
Coating
Assembling of aftermarket components
Customers & end markets
Heavy and medium duty commercial vehicles
Construction and access equipment
Powersports
Data center and critical power
Agriculture
Military
Market position

Niche supplier of engineered metal components serving specialized industrial end markets.

Demand drivers
Medium cyclicality

Business is tied to industrial and commercial vehicle production cycles which fluctuate with economic conditions.