Capital investment and capacitynegative · 4 filings
“The decrease in free cash flow was due to a decrease in cash provided by operating activities and higher capital expenditures.”10-Q · May 6, 2026 ↗
Mayville Engineering Company, Inc.
MEC
Market read
Mayville Engineering Company, Inc.'s current read is isolated; its market group is not confirming.
No new filing conclusion is available. 0 of 6 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 4 directly disclosed connections are confirming.
Company-2.4% todayVolume comparison unavailable
Market group0 of 6 activeElectric Vehicle Innovators · unavailable
Disclosed network0 of 4 confirmingNo filing-linked name is confirming now
What would change this read
Watch this read- MEC's market-adjusted activity becomes unusual and at least one connected name confirms.
Invalidation: The isolated read changes if MEC's group or a disclosed connection begins moving with it.
Research brief
The story so far
No new filing conclusion is available. 0 of 6 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 4 directly disclosed connections are confirming.
Evidence that supports
No thresholded supportive filing evidence is available yet.
Evidence that challenges
No thresholded adverse filing evidence is available yet.
What would clarify the read
- MEC's market-adjusted activity becomes unusual and at least one connected name confirms.
Company research
Understand the business, not just the ticker
Business model and earnings drivers
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
Key research questions
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
Annual periods9
Price observations319
Usable filing statements84
Verified relationships4
Evidence supporting the case
No qualifying supportive evidence was identified.
Evidence challenging the case
- Latest annual revenue changed -6.0% year over year.
- Operating margin changed -8.4 percentage points in the latest annual period.
- Net margin changed -5.9 percentage points in the latest annual period.
- Capital investment and capacity has repeated adverse evidence across 4 filings.
- Credit and interest rates has repeated adverse evidence across 4 filings.
- Demand and volume has repeated adverse evidence across 4 filings.
- Restructuring and cost reductions has repeated adverse evidence across 4 filings.
Questions before a position
- EV/sales is 69% below the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context
Price as of Sep 10, 2026
18.886m-10.1%12m+29.5%24m—
Annual trajectory
Reported annual revenue and per-share history. This is accounting history, not a forecast.
PeriodRevenueYoYDiluted EPSShare change
2021-12-31$454.8M+27.2%$-0.36+4.7%
2022-12-31$539.4M+18.6%$0.91-0.7%
2023-12-31$588.4M+9.1%$0.38+0.1%
2024-12-31$581.6M-1.2%$1.24+1.3%
2025-12-31$546.5M-6.0%$-0.40-2.4%
What management says matters
Persistent and emerging business drivers
Credit and interest ratesnegative · 4 filings
“The $12,896 increase in cash provided by financing activities was mainly due to borrowings in excess of debt repayments during the current year period on the Company’s revolving credit facility.”10-Q · May 6, 2026 ↗
Demand and volumemixed · 4 filings
“The increase of $1,222 was driven by an increase in capital investments needed to support rapidly accelerating demand in the Datacenter & Critical Power end market.”10-Q · May 6, 2026 ↗
Restructuring and cost reductionsnegative · 4 filings
“The decrease was primarily driven by non-recurring restructuring costs, project launch costs related to the Datacenter & Critical Power end market and lower capacity utilization due to softer demand primarily within the Commercial Vehicle end market, partiall…”10-Q · May 6, 2026 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales 0.7× · EV/sales 0.7×. Comparisons use only industry-matched filing peers.
Scenario scaffold
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
19.25-2.4% today
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 11 Sept, 09:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for MEC. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Filing analysis
No comparable filing assessment is available yet
Jodie has not yet found a suitable current-versus-prior filing comparison for MEC. This does not mean the latest filing was neutral or immaterial.
Business ecosystem
The relationships behind MEC
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
PCAR13.6% of MECcustomerMar 4, 2026 ▾
“For the year ended December 31, 2025, PACCAR Inc.”
DE10.0% of MECcustomerMar 4, 2026 ▾
“For example, we provide John Deere, a leading customer, with 2025 net sales accounting for 10.0% of our total revenue, with over 3,000 SKUs across over 65 individual John Deere platforms including the agriculture, forestry, turf care, power systems and constr…”
CVGIFiling-linked namecustomerMay 6, 2026 ▾
“This was partially offset by lower customer demand within the Commercial Vehicle and Military end markets.”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 5 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
MEC is currently a Leader in the organic co-movement group Electric Vehicle Innovators. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
This group is retained as the last observed read for MEC; it is not active in the latest market snapshot.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.