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Mayville Engineering (MEC)

MEC is a leading U.S.-based value-added manufacturing partner that provides a broad range of prototyping and tooling, production fabrication, coating, assembly and aftermarket components. Its customers operate in diverse end markets, including heavy- and medium-duty commercial vehicles, construction, powersports, agriculture, military and other end markets. MEC has developed long-standing relationships with its blue-chip customers based upon a high level of experience, trust and confidence. Its one operating segment focuses on producing metal components that are used in a broad range of heavy- and medium-duty commercial vehicles, construction, powersports, agricultural, military and other products.

Company profile

Ticker
MEC
Exchange
Website
CEO
Robert D. Kamphuis
Employees
Location
Fiscal year end
SEC CIK
Subsidiaries
Center Manufacturing Holdings, Inc. • Center Manufacturing, Inc. • Center – Moeller Products LLC • Defiance Metal Products Co. • Defiance Metal Products of Arkansas, Inc. • Defiance Metal Products of PA., Inc. • Defiance Metal Products of WI, Inc. ...
IRS number
390944729

MEC stock data

Calendar

3 Aug 22
25 Sep 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 105K 105K 105K 105K 105K 105K
Cash burn (monthly) 5K 1.17K (no burn) 220.42K (no burn) (no burn)
Cash used (since last report) 14.23K 3.32K n/a 627.1K n/a n/a
Cash remaining 90.77K 101.68K n/a -522.1K n/a n/a
Runway (months of cash) 18.2 87.2 n/a -2.4 n/a n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
10 Aug 22 Todd M Butz Common Stock Buy Acquire P No No 7.2496 2,000 14.5K 85,351
19 Jul 22 Jagadeesh A Reddy RSU Common Stock Grant Acquire A No No 0 96,154 0 96,154
19 Jul 22 Timothy L Christen RSU Common Stock Grant Acquire A No No 0 2,774 0 2,774
20 Apr 22 Jennifer J. Kent Common Stock Option exercise Acquire M No No 0 6,235 0 6,235
20 Apr 22 Jennifer J. Kent RSU Common Stock Option exercise Dispose M No No 0 6,235 0 0
19 Apr 22 Jennifer J. Kent RSU Common Stock Grant Acquire A No No 0 14,485 0 14,485
1.8% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 64 65 -1.5%
Opened positions 17 11 +54.5%
Closed positions 18 15 +20.0%
Increased positions 21 24 -12.5%
Reduced positions 17 21 -19.0%
13F shares Current Prev Q Change
Total value 108.14M 126.97M -14.8%
Total shares 7.18M 7.47M -3.9%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners Shares Value Change
Allspring Global Investments 2.46M $19.03M -1.0%
Jennison Associates 878.26K $6.8M +2.7%
Tocqueville Asset Management 660.77K $5.11M +6.9%
Vanguard 360.04K $2.79M -9.5%
Mill Road Capital Management 229.58K $1.78M NEW
Millennium Management 226.84K $1.76M +365.2%
BLK Blackrock 223.4K $1.73M -63.7%
Dimensional Fund Advisors 204.5K $1.58M +36.4%
Advisor 182.51K $1.41M +41.9%
UBS UBS Group AG - Registered Shares 160.52K $1.24M +18.4%
Largest transactions Shares Bought/sold Change
BLK Blackrock 223.4K -392.78K -63.7%
Wellington Management 0 -235.36K EXIT
Mill Road Capital Management 229.58K +229.58K NEW
Millennium Management 226.84K +178.08K +365.2%
Putnam Investments 0 -167.54K EXIT
STT State Street 33.95K -112.15K -76.8%
First Trust Advisors 0 -93.16K EXIT
Renaissance Technologies 93.14K +81.04K +669.7%
Geode Capital Management 78.15K -72.86K -48.2%
BAC Bank Of America 145.57K +63.27K +76.9%

Financial report summary

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Risks
  • The COVID-19 pandemic has had, and will continue to have, a negative impact on our business, financial condition, cash flows, results of operations and supply chain.
  • We are affected by developments in the industries in which our customers operate.
  • Most of our customers do not commit to long-term production schedules, which makes it difficult for us to schedule production accurately and achieve maximum efficiency of our manufacturing capacity.
  • Failure to compete successfully in our markets could materially adversely affect our business, financial condition, results of operations or prospects.
  • We may be unable to realize net sales represented by our awarded business, which could materially and adversely impact our business, financial condition, results of operations and cash flows.
  • We may not be able to maintain our manufacturing, engineering and technological expertise.
  • Entering new markets, either organically or via acquisition, poses new competitive threats and commercial risks.
  • We depend on our key executive officers, managers, and trade-skilled personnel and may have difficulty retaining and recruiting qualified employees. Moreover, we operate in competitive labor markets, which may also impact our ability to hire and retain employees at our facilities.
  • Availability of, and volatility in the prices of, raw materials and energy prices and our ability to pass along increased costs to our customers could adversely affect our results of operations.
  • Our manufacturing operations are dependent upon third-party suppliers, making us vulnerable to supply shortages.
  • Increases in the cost of employee benefits could impact our financial results and cash flows.
  • Our growth strategy includes acquisitions, and we may not be able to identify attractive acquisition targets or successfully integrate acquired targets without impacting our business.
  • We are dependent on information technology and our systems and infrastructure face certain risks, including cyber security risks and data leakage risks.
  • We may incur additional expenses and delays due to technical problems or other interruptions at our manufacturing facilities.
  • Political and economic developments could adversely affect our business.
  • The impact of foreign trade relations and associated tariffs, as well as our reliance on international suppliers for certain raw materials, could adversely impact our business.
  • The risks associated with climate change, as well as climate change legislation and regulations, could adversely affect our operations and financial condition.
  • Our manufacturing, painting and coating operations are subject to environmental, health and safety laws and regulations that could result in liabilities to us.
  • If our manufacturing processes do not comply with applicable statutory and regulatory requirements, or if we manufacture components containing manufacturing defects, demand for our capabilities may decline and we may be subject to liability claims.
  • Adverse judgments or settlements in legal disputes, including product liability, intellectual property infringement and other claims, could result in materially adverse monetary damages or injunctive relief and damage our business and/or our reputation.
  • Any failure to protect our customers’ intellectual property that we use in the products we manufacture for them could harm our customer relationships and subject us to liability.
  • Compliance or the failure to comply with regulations and governmental policies could cause us to incur significant expense.
  • Because our industry is capital intensive and we have significant fixed and semi-fixed costs, our profitability is sensitive to changes in volume.
  • Prior to our initial public offering, we were treated as an S Corporation, and claims of taxing authorities related to our prior status as an S Corporation could have an adverse effect on our business, financial condition and results of operations.
  • Prior to the completion of our initial public offering we were 100% owned by the ESOP, which is a retirement plan intended to be tax-qualified. If the ESOP fails to meet the requirements of a tax-qualified retirement plan, we could be subject to substantial penalties.
  • The Trustees of the ESOP and the 401(k) Plan may have the power to vote a large block of shares on matters presented to shareholders for approval.
  • The market price of our common stock may be volatile, and you could lose all or part of your investment.
  • We do not expect to declare any dividends in the foreseeable future.
  • Some provisions of Wisconsin law and our articles of incorporation and bylaws could make a merger, tender offer or proxy contest difficult, thereby depressing the trading price of our common stock.
  • We are an emerging growth company, and any decision on our part to comply only with certain reduced reporting and disclosure requirements applicable to emerging growth companies could make our common stock less attractive to investors.

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. freshman Avg
New words: basic, director, half, machinery, moderate, slightly, stabilized, subleased, unfavorable
Removed: rollforward, rose, twelve