Mayville Engineering Company, Inc.

Worth knowing

• Shareholders being diluted. Shares outstanding up 26% from December 2022 to July 2026.

  Mayville Engineering had 26% more shares at July 2026 than at December 2022, mostly from issuing stock (for pay, acquisitions or fundraising). Each existing share now owns a smaller slice of the business.Mayville Engineering had 26% more shares at July 2026 than at December 2022, mostly from issuing stock. Each existing share now owns a smaller slice of the business.

• Stock pay is large next to buybacks. Stock-based pay expense $13M vs $13M spent repurchasing shares over the 3 fiscal years to 2025.

  Over three fiscal years Mayville Engineering recorded $13M of stock-based pay expense and spent $13M repurchasing shares (repurchases can include shares withheld to cover employees' taxes).Over three fiscal years Mayville Engineering recorded $13M of stock-based pay expense and spent $13M repurchasing shares.

• Earnings slid into a loss. Loss per share this year after a profit last year.

  Mayville Engineering made a loss per share in its latest year after a profit the year before.

• Valuation signals disagree. Cheaper than 44% of peers on operating cash profit (EBITDA), but only 0% on earnings.Cheaper than 44% of peers on operating cash profit, but only 0% on earnings.

  Relative to its operating cash profit (EBITDA), Mayville Engineering looks cheaper than 44% of peers; relative to its earnings, cheaper than only 0%. The valuation score blends the two, so look at which measure fits this business best.Relative to its operating cash profit, Mayville Engineering looks cheaper than 44% of peers; relative to its earnings, cheaper than only 0%. The valuation score blends the two, so look at which measure fits this business best.