Mayville Engineering Company (NYSE: MEC) is a contract manufacturing company that produces fabricated metal components and assemblies for large original equipment manufacturers. Revenue is transactional, generated by selling manufactured parts, including fabrications, tubes, tanks, performance structures, and aluminum extrusions, to OEM customers across multiple industrial end markets. MEC positions itself as an end-to-end supply chain partner, offering services from product development and prototyping through production and aftermarket components. Primary end markets include heavy- and medium-duty commercial vehicles, construction and access equipment, powersports, data center and critical power, agriculture, and military. The company reported net income of $25.968 million in FY2024 and a net loss of $8.110 million in FY2025, with EBITDA declining from $82.141 million in FY2024 to $37.443 million in FY2025. CEO Jagadeesh A. Reddy and CFO Rachele M. Lehr signed the 10-K filed March 4, 2026. Most customers do not commit to long-term contracts, creating volume and timing uncertainty.

Revenue model

Transactional manufacturing revenue: MEC is paid per component or assembly produced for OEM customers. No subscription or royalty structure is disclosed. Customers generally do not commit to long-term contracts or firm production schedules, per the FY2025 10-K.

Products and services

Fabricated metal components and assemblies including: laser-cut and stamped sheet metal parts, brake-pressed and formed parts, machined components, aluminum extrusions (6000-series alloys, 880 to 3,150-ton presses), tube bending (oval, round, and square tubes), tanks, performance structures, and aftermarket components. Services include upfront product manufacturability advice, prototyping, and final assembly.

Customers and end markets

Large OEM customers across heavy- and medium-duty commercial vehicles, construction and access equipment, powersports, data center and critical power, agriculture, and military end markets. Customers pursue outsourcing and reshoring strategies, preferring to source non-core components externally. No specific customer concentration percentages are disclosed in the excerpts provided.

Value-chain role

Tier-1 or Tier-2 contract manufacturer and supply chain partner to OEMs. MEC participates in customer design and prototyping activities and provides end-to-end manufacturing from concept through aftermarket. Positioned to support OEM vendor consolidation strategies.

Geographic exposure

No specific geographic revenue breakdown or facility count by country is provided in the filing excerpts.

Source: SEC 10-K, filed 2026-03-04

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