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Verdict
Quantitative factor alignment verified for current market regime.
Quant Score
Rank
#1405
Positioning
Market Dominance
Manufacturing
Fabricated Products
$280M
Jagadeesh A. Reddy
Mayville Engineering Company, Inc. operates as a contract manufacturer that serves the heavy and medium duty commercial vehicle, construction and access equipment, powersports, agriculture, military, and other end markets in the United States. The company was founded in 1945 and is headquartered in Mayville, Wisconsin.
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X-AXIS: EV/EBITDA (LOWER = CHEAPER) | Y-AXIS: ROE (HIGHER = ELITE) | RED CIRCLE = MEC ANALYSIS TARGET
| Stock | Rating | Score▼ | Quality | Value | Momentum | P/E | EV/EBITDA | ROE | ROA | Gross Mgn | Op Mgn | Net Mgn | Rev Growth | Div Yield | D/E | Mkt Cap | AUDIT |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
$UL UNILEVER PLC | 78 | 96 | 98 | 59 | - | - | - | - | - | - | - | - | - | - | $0 | VS | |
$ASML ASML HOLDING NV | 77 | 89 | 86 | 83 | - | - | - | - | - | - | - | - | - | - | $0 | VS | |
$ESLT ELBIT SYSTEMS LTD | 76 | 81 | 87 | 85 | - | - | - | - | - | - | - | - | - | - | $0 | VS | |
$MT ArcelorMittal | 75 | 71 | 98 | 85 | - | - | - | - | - | - | - | - | - | - | $0 | VS | |
$AMAT APPLIED MATERIALS INC /DE | 75 | 85 | 87 | 84 | 20.9x | 13.6x | 32.9% | 20.5% | 48.8% | 30.6% | 24.4% | 7.7% | 0.9% | 32.0x | $148.6B | VS | |
$SIMO Silicon Motion Technology CORP | 75 | 84 | 86 | 85 | - | - | - | - | - | - | - | - | - | - | $0 | VS | |
$CODA Coda Octopus Group, Inc. | 74 | 83 | 90 | 79 | 16.3x | 11.9x | 7.4% | 7.5% | 68.3% | 19.5% | 18.2% | 29.0% | 0.0% | 0.0x | $84M | VS | |
$GSK GSK plc | 74 | 84 | 90 | 70 | - | - | - | - | - | - | - | - | - | - | $0 | VS | |
$EFXT Enerflex Ltd. | 74 | 80 | 91 | 83 | - | - | - | - | - | - | - | - | - | - | $0 | VS | |
$BUD Anheuser-Busch InBev SA/NV | 74 | 84 | 97 | 63 | - | - | - | - | - | - | - | - | - | - | $0 | VS | |
$MEC Mayville Engineering Company, Inc. | 54 | 40 | 49 | 69 | - | 60.5x | -0.3% | -0.1% | 11.3% | 1.4% | -0.1% | -11.8% | 0.0% | 139.0x | $280M | ||
| SECTOR BENCH | - | - | - | - | - | 22.3x | 11.5x | -1.9% | 0.9% | 44.1% | 2.5% | 1.0% | 6.7% | 0.0% | 0.2x | - | REF |
Mayville Engineering Company, Inc. (MEC) receives a "Hold" rating with a composite score of 53.9/100. It ranks #1405 out of 7,333 stocks in our coverage universe and carries a 3-star rating. Ratings are driven by a 6-factor quantitative model measuring quality, value, momentum, investment, stability, and short interest.
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Outperforming peers — winners tend to keep winning over 3-12 months
Fair valuation relative to peers
Average quality profile
Low volatility — smoother ride and historically better risk-adjusted returns
Aggressive spending — empire-building risk, dilutive growth
Mid-range overall rating
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Relative valuation derived from Manufacturing sector benchmarks. Model weights: EV/EBITDA (40%), P/B (35%), P/S (25%). Re-calculated daily.
No analyst ratings for MEC.
View All Ratings| Factor | Global | Sector | Tilt |
|---|---|---|---|
| PROFITABILITY | 40 | 27 | +13ALPHA |
| MOMENTUM | 69 | 72 | -3NEUTRAL |
| VALUATION | 49 | 39 | +10ALPHA |
| INVESTMENT | 28 | 31 | -3NEUTRAL |
| STABILITY | 74 | 77 | -3NEUTRAL |
| SHORT INT | 49 | 48 | +1NEUTRAL |
Global = full universe. Sector = relative to industry peers. Positive tilt indicates idiosyncratic strength.
ROIC 0.0% vs WACC 7.0% (spread -7.0%)
GM 11% vs sector 44%, OM 1% vs sector 3%
Capital turnover 0.69x
Rev growth -12%, 7yr history
Interest coverage 0.0x, Net debt/EBITDA 4388.4x
Composite assessment of profitability, capital efficiency, and financial strength. Top-tier entities demonstrate sustainable cash flow generation and elite competitive moats.
Profit generated per dollar of shareholder equity
Efficiency of asset utilization
Pricing power and cost efficiency
Core business profitability
Bottom-line profitability
The Quality factor evaluates the persistence and magnitude of realized cash flows. Companies with scores >70 exhibit superior pricing power and structural financial resilience through diverse economic regimes.
Our uncertainty rating tracks the predictability of future cash flows and potential for permanent capital loss. Moderate visibility with standard industry cyclicality.
We rate Mayville Engineering Company, Inc. (MEC) as a Hold with a composite score of 53.9/100 at a current price of $21.68. The stock presents a mixed quantitative picture — neither compelling enough to warrant new accumulation nor weak enough to justify selling.
Mayville Engineering Company, Inc. holds a top-quartile position (#0 of 50) within the Manufacturing sector, based on our composite quantitative scoring across quality, value, momentum, and stability factors. The composite score of 53.9/100 places it at rank #1405 in our full universe.
The near-term outlook is constructive, with revenue growing at -12% and momentum in the 69th percentile confirming positive market sentiment. The combination of strong top-line growth and favorable price dynamics suggests the company is executing well on its growth strategy.
No Moat
High
Poor
Fair Value
Positive momentum indicates institutional accumulation.
Stable competitive position in a defensive sector.
Leverage of 139% D/E amplifies downside risk.
Vulnerability to macroeconomic shocks and interest rate volatility.
Mayville Engineering Company, Inc. represents a hold based on multi-factor quantitative performance.
Our model assigns Mayville Engineering Company, Inc. a Hold rating, with a composite score of 53.9/100 and 3 out of 5 stars. Ranked #1405 of 7,333 stocks, MEC presents a mixed quantitative picture — neither compelling enough to initiate new positions nor weak enough to warrant selling. Investors already holding may consider maintaining their position while monitoring for changes in the factor profile.
MEC's quality score of 40/100 is below average, suggesting challenges with profitability or capital efficiency. The company reports a return on equity of -0.3% (sector avg: -1.9%), gross margins of 11.3% (sector avg: 44.1%), net margins of -0.1% (sector avg: 1.0%). Investors should examine whether management is actively addressing these weaknesses or if they reflect structural industry headwinds.
With a value score of 49/100, MEC appears somewhat expensive relative to its fundamentals. Key valuation metrics include an EV/EBITDA of 60.51x, a P/B ratio of 1.84x. Investors paying a premium here are likely betting on above-average growth or margin expansion to justify current prices.
Mayville Engineering Company, Inc.'s investment score of 28/100 suggests limited reinvestment activity. Key growth metrics include revenue growth of -11.8% vs. a sector average of 6.7% and a return on assets of -0.1% (sector: 0.9%). While this can be positive for mature, cash-generative businesses returning capital to shareholders, it may also signal a lack of growth opportunities or management conservatism.
MEC demonstrates moderate momentum with a score of 69/100, suggesting a neutral price trend without strong directional conviction. Revenue growth stands at -11.8% year-over-year, while a beta of 0.80 reflects its sensitivity to broader market moves. Moderate momentum may indicate the stock is consolidating or transitioning between trends, warranting close monitoring of upcoming catalysts.
MEC shows good financial stability with a score of 74/100. Key stability metrics include a beta of 0.80 and a debt-to-equity ratio of 139.00x (sector avg: 0.2x). This suggests manageable leverage and moderate price volatility, making it appropriate for investors seeking a balance between growth potential and capital preservation.
The short interest score of 49/100 for MEC suggests somewhat elevated bearish positioning by institutional traders. Specific risk factors include elevated leverage (D/E: 139.00x), micro-cap liquidity risk. With a $280M market cap (micro-cap), Mayville Engineering Company, Inc. may experience above-average volatility. Investors should consider whether the short thesis has merit or if it creates a potential short-squeeze opportunity.
Mayville Engineering Company, Inc. is a micro-cap company in the Manufacturing sector, ranked #0 of 50 in its sector (100th percentile) and #1405 of 7,333 overall (81st percentile). Key comparisons include ROE of -0.3% exceeding the -1.9% sector median and operating margins of 1.4% below the 2.5% sector average. This top-quartile standing reflects exceptional competitive strength relative to Manufacturing peers.
While MEC currently exhibits a HOLD profile, superior opportunities exist within the MANUFACTURING sector. Our model identifies several "Strong Buy" candidates with higher quality scores and more attractive valuations among direct industry competitors.
View Top Manufacturing Alpha →Quant Factor Profile
Key factor gap
Stability (74) vs Investment (28) — closing this gap could shift the rating.
EV/EBITDA 428% ABOVE SECTOR MEDIAN
ROE 83% BELOW SECTOR MEDIAN
Gross Margin 74% BELOW SECTOR MEDIAN
Above 50MA
37.18%
Net New Highs
+51081
What a time it’s been for Mayville Engineering. In the past six months alone, the company’s stock price has increased by a massive 54.2%, setting a new 52-week high of $22.12 per share. This was partly thanks to its solid quarterly results, and the run-up might have investors contemplating their next move.
Here are three Zacks Engineering-R and D Services Industry stocks that currently sport a Zacks Rank #2 (Buy) and have seen their stocks soar in 2024.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Mayville Engineering (MEC) delivered earnings and revenue surprises of -38.89% and 5.41%, respectively, for the quarter ended December 2023. Do the numbers hold clues to what lies ahead for the stock?