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Mayville Engineering Company (MEC) Fair Value & Analysis

Industrials · US · Market cap $910M

ME Mayville Engineering Company logo Mayville Engineering Company MEC · US
Price$24.18
Fair Value$26.38
Upside+9.1%
Quality44/100
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Mixed Growth
Loss-making · -2.9% net margin
Moderate debt · generates free cash flow
Trails peers (1/12)
Narrow moat 10/100
Evidence: Medium Range $19.32 – $33.46 Share as image

Fair value as of: Jul 17, 2026

From 10 valuation models · updated 24 days ago

Fair value updated Jul 17, 2026, revised from $13.19 to $26.38 (+100.0%) since Jun 24, 2026. Share price −25.8% over the past month.

Below-average quality, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • Our model range runs from $19.32 (bear) to $33.46 (bull), base $26.38. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 44/100 (below-average quality) with medium evidence: read the verdict with care.
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Price vs Fair Value (5 years)

$37.54 $6.01 Fair Value $26.38 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 17, 2026.

How to read this chart

60‑month range $6.01 – $37.54 · fair‑value band $19.32 – $33.46 · the $24.18 price screens below the $26.38 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 17, 2026.

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Analysis

Mayville Engineering Company (MEC) currently trades at $24.18, while our model-based Fair Value estimate is $26.38, implying the stock looks roughly 9.1% fairly valued today. The Quality Score stands at 44/100 (below-average quality), in the Industrials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.

Over the trailing twelve months, Mayville Engineering Company generated revenue of $556M at a net margin of -2.9%. Revenue grew 6.8% year over year. It earns a return on equity of -6.8%. Net debt stands at $24.1M. Fundamentals as of Jul 17, 2026

Our scenario range runs from $19.32 (bear case) to $33.46 (bull case); at $24.18, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 34% below its 52-week high and 100% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -72% fair-value upside, at 9%, MEC screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Growth DCF $1.46 $4.15 $7.26 80
Rev-Margin DCF $1.15 $5.45 $9.95 74
EV/EBITDA $2.72 $6.25 $9.79 54
All 10 models by family
DCF Models
FCF DCF $1.27 $4.17 $7.67 38
5Y Revenue Exit $1.15 $5.30 $10.31 39
5Y EBITDA Exit $1.30 $5.57 $10.22 41
10Y Revenue Exit $0.8900 $4.35 $8.45 36
10Y EBITDA Exit $1.21 $4.51 $8.39 37
Multiples
EV/EBITDA $2.72 $6.25 $9.79 54
EV/Revenue $1.72 $5.84 $9.96 43
Asset-Based
NCAV (Graham) $4.72 $6.33 $9.44 50
Growth DCF
Growth DCF $1.46 $4.15 $7.26 80
Rev-Margin DCF $1.15 $5.45 $9.95 74

Widest divergence: Asset-Based ($6.33) versus Growth DCF ($4.15). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) $556M
Revenue growth (YoY) +6.8%
Net margin -2.9%
Return on equity -6.8%
Free cash flow $26.9M FY2025
Operating margin -3.6%
More key figures
EPS (TTM) $-0.8000
EPS growth (YoY) -99.4%
Net debt $24.1M FY2025

Figures from reported company fundamentals · as of Jul 17, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 44/100

Of which business quality 46 · Market factors (momentum, volatility) 58

Profitability 23
Margins and returns on capital today
Quality Growth 5
Are margins and returns improving?
Cashflow 42
Earnings quality: real cash, not paper profit
Fin. Strength 53
Balance sheet, leverage, solvency risk
Investment 80
Disciplined investing over empire-building
Low Volatility 24
Calm price path (market factor)
Momentum 76
Price trend over the last 3–12 months (market factor)
52W Momentum 66
Distance to the 52-week high (market factor)
Net Issuance 93
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Mayville Engineering Company, Inc., together with its subsidiaries, engages in the production, design, prototyping and tooling, fabrication, aluminum extrusion, coating, and assembling of aftermarket components in the United States. It supplies engineered components to original equipment manufacturers.

Full company description

Mayville Engineering Company, Inc., together with its subsidiaries, engages in the production, design, prototyping and tooling, fabrication, aluminum extrusion, coating, and assembling of aftermarket components in the United States. It supplies engineered components to original equipment manufacturers. The company serves heavy and medium duty commercial vehicles, construction and access equipment, powersports, data center and critical power, agriculture, military, and other end markets. Mayville Engineering Company, Inc. was founded in 1945 and is headquartered in Milwaukee, Wisconsin.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Mayville Engineering Company reported revenue of $546M in FY2025 versus $455M in FY2021, a compound +4.7%/yr. Reported net income was −$8.1M in FY2025.

Growth Quality 44/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
$546M
Latest YoY
−6.0%
Avg. growth/yr (3Y)
+0.4%
Avg. growth/yr (5Y)
+8.9%
Avg. growth/yr (8Y)
+7.2%
Revenue +4.7%/yr
FY21 $455M
FY22 $539M
FY23 $588M
FY24 $582M
FY25 $546M
Net income
FY21 −$7.5M
FY22 $18.7M
FY23 $7.8M
FY24 $26.0M
FY25 −$8.1M

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Cite: Fair Value Calculator (2026). "Mayville Engineering Company Fair Value". https://www.fairvalue-calculator.com/stock/MEC

Earlier news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Metal Fabrication · 243 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 44 · Below median
Fair Value upside +9% · Top 25%
Return on assets -1% · Bottom 25%
Net margin (TTM) -3% · Bottom 25%
Operating margin (TTM) -4% · Bottom 25%
Revenue growth 7% · Below median
Debt / equity 0.84× · Higher than 75% of peers

Valuation Multiples vs Metal Fabrication median · lower = cheaper

P/B 3.78× · Pricier than 75% of peers
P/S (TTM) 1.64× · Pricier than median
P/FCF 33.8× · Pricier than 75% of peers
EV/EBITDA 30.1× · Pricier than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 45 · sector 0
FUTURE 34 · sector 35
PAST 0 · sector 21
HEALTH 58 · sector 95
DIVIDEND 0 · sector 25

Insider activity: 46/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

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Frequently asked questions

Is Mayville Engineering Company (MEC) overvalued or undervalued?
As of Jul 17, 2026, our model estimates a fair value of $26.38 versus a price of $24.18, about +9% (fairly valued).
What is the fair value of MEC?
Our model-based fair value for Mayville Engineering Company is $26.38 (as of Jul 17, 2026), built from audited fundamentals. The current price is $24.18.
What is the quality score of MEC?
Mayville Engineering Company has a Quality Score of 44/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Mayville Engineering Company (MEC)?
Mayville Engineering Company reported trailing-twelve-month revenue of about $556M (latest available figure, as of Jul 17, 2026).
What is the net profit margin of MEC?
The net profit margin of Mayville Engineering Company is about -2.9%, meaning it is currently running at a net loss. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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