MEC (MEC) financial statements
MEC reported revenue of $546M in fiscal 2025, up 7.2% a year over 8 years.
Net income was -$8M and the operating margin -0.7%, against 3.0% in 2017.
Free cash flow was $27M, and the company returned $5M in net buybacks.
The diluted share count rose 43% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from MEC's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $313M | $355M | $520M | $358M | $455M | $539M | $588M | $582M | $546M |
| Cost of revenue | $279M | $304M | $461M | $326M | $403M | $478M | $519M | $511M | $492M |
| Gross profit | $35M | $51M | $59M | $32M | $51M | $61M | $70M | $71M | $54M |
| Operating income | $9M | $22M | -$2M | -$6M | -$7M | $26M | $20M | $45M | -$4M |
| Interest expense | $4M | $4M | $7M | $3M | $2M | $3M | $11M | $11M | $10M |
| Pre-tax income | $5M | $17M | -$9M | -$9M | -$9M | $22M | $9M | $34M | -$14M |
| Income tax | $0 | -$459,000 | -$4M | -$2M | -$2M | $4M | $1M | $8M | -$6M |
| Net income | $5M | $18M | -$5M | -$7M | -$7M | $19M | $8M | $26M | -$8M |
| EPS (diluted) | $0.37 | $1.29 | -$0.27 | -$0.36 | -$0.36 | $0.91 | $0.38 | $1.24 | -$0.40 |
| Diluted shares | 14M | 14M | 17M | 20M | 21M | 21M | 21M | 21M | 20M |
| Gross margin | 11.1% | 14.3% | 11.3% | 8.8% | 11.3% | 11.3% | 11.8% | 12.2% | 9.9% |
| Operating margin | 3.0% | 6.3% | -0.4% | -1.8% | -1.6% | 4.8% | 3.4% | 7.7% | -0.7% |
| Net margin | 1.7% | 5.1% | -0.9% | -2.0% | -1.6% | 3.5% | 1.3% | 4.5% | -1.5% |
Balance sheet
Fiscal years, from MEC's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $76,000 | $3M | $1,000 | $121,000 | $118,000 | $127,000 | $672,000 | $206,000 | $2M |
| Receivables | — | $52M | $40M | $42M | $55M | $58M | $57M | $50M | $58M |
| Inventory | — | $53M | $46M | $41M | $70M | $72M | $68M | $55M | $59M |
| Total current assets | — | $113M | $90M | $89M | $133M | $141M | $135M | $113M | $128M |
| Property, plant and equipment | — | $124M | $125M | $107M | $121M | $146M | $176M | $157M | $150M |
| Goodwill | — | $69M | $72M | $72M | $72M | $72M | $93M | $93M | $140M |
| Total assets | — | $392M | $364M | $339M | $379M | $441M | $497M | $446M | $564M |
| Total current liabilities | — | $83M | $48M | $53M | $77M | $102M | $72M | $65M | $75M |
| Total liabilities | — | $289M | $163M | $138M | $181M | $223M | $267M | $194M | $323M |
| Shareholders' equity | — | $103M | $201M | $201M | $198M | $218M | $230M | $252M | $241M |
| Net debt | -$76,000 | $6M | -$1,000 | -$121,000 | -$118,000 | -$127,000 | -$672,000 | -$206,000 | -$2M |
Cash flow
Fiscal years, from MEC's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $31M | $37M | $33M | $37M | $14M | $52M | $40M | $90M | $39M |
| Capital spending | $11M | $18M | $26M | $8M | $39M | $59M | $17M | $12M | $12M |
| Free cash flow | $20M | $19M | $8M | $29M | -$25M | -$6M | $24M | $78M | $27M |
| Stock-based compensation | — | — | $3M | $5M | $5M | $4M | $4M | $5M | $3M |
| Share buybacks (net) | -$9M | -$8M | -$3M | -$3M | -$2M | -$5M | -$3M | -$6M | -$5M |
| Net borrowing | — | — | — | — | -$268,000 | -$1M | -$7M | -$806,000 | -$500,000 |
| Free cash flow margin | 6.2% | 5.3% | 1.5% | 8.0% | -5.5% | -1.1% | 4.0% | 13.4% | 4.9% |
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Open MEC in InvestinglyQuestions
What was MEC's revenue in 2025?
$546M in fiscal 2025, from its 10-K filing.
How much free cash flow does MEC generate?
$27M in fiscal 2025 (operating cash flow minus capital spending).
From MEC's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.