Mayville Engineering Company, Inc.
MEC · NYSE
Company research
Mayville Engineering Company, Inc. (NYSE: MEC) is a leading U.S.-based, vertically integrated, value-added contract manufacturer and metal fabrication specialist founded in 1945 and headquartered in Milwaukee, Wisconsin. The company provides a comprehensive suite of manufacturing solutions — spanning design, prototyping and tooling, production fabrication, aluminum extrusion, coating, assembly, and aftermarket components — serving as a critical Tier 1 supply chain partner for original equipment manufacturers (OEMs) across heavy- and medium-duty commercial vehicles, construction and access equipment, powersports, agriculture, military, and other industrial end markets. MEC operates 23 facilities across seven U.S. states, leveraging advanced capabilities including CNC stamping, fiber laser cutting, robotic welding, tube bending, and a broad range of finishing services such as e-coating, powder coating, and military-grade CARC painting. With approximately 2,400 employees and a market capitalization of approximately $731 million, MEC has distinguished itself as the largest metal fabricator in the nation for 14 consecutive years, generating full-year 2024 net sales of $581.6 million under the leadership of President and CEO Jagadeesh "Jag" Reddy.
Research reports
Comprehensive fundamental and strategic analysis arguing that MEC is transforming into a key AI/datacenter and critical power fabrication partner, with Accu-Fab integration and a large datacenter pipeline offsetting cyclical weakness in legacy commercial vehicle and agriculture segments. The report emphasizes that the stock’s sharp run has pushed EV/EBITDA and forward valuation to stretched levels, concluding that “growth is fully priced” and presenting scenario analysis that yields a probability‑weighted price target slightly below the current share price, leaving limited upside and meaningful execution and balance‑sheet risks.
Simply Wall St · June 21, 2026Mayville Engineering Company (MEC) Stock ReportA data‑driven stock report that highlights MEC’s strong 1‑year share price performance and analyst expectations for high earnings growth, driven by growing exposure to data center and critical power markets following Accu-Fab, alongside detailed coverage of margins, leverage, and volatility. It stresses concerns about weak profitability, high debt relative to equity, shareholder dilution and insider selling, while presenting a range of bullish and cautious analyst narratives and fair‑value estimates, framing the risk‑reward as mixed rather than clearly bullish or bearish.
StockStory · March 30, 2026Mayville Engineering (MEC) Research Report: Q4 CY2025 UpdateThe StockStory analyst team rates MEC “Underperform” and expresses wariness about the business, citing low gross margins, poor returns on capital and significant leverage despite a decent five‑year revenue CAGR and EPS growth. In its Q4 CY2025 update, the report notes revenue and EPS broadly in line with expectations but weaker EBITDA and guidance versus consensus, and argues that MEC’s very high forward P/E leaves investors paying a premium for a low‑quality, highly levered industrial, recommending that capital be deployed into higher‑quality alternatives instead.