MG · Mistras Group, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $169.03M | - | $195.55M | $185.41M | $161.62M | - | $182.69M | $189.77M | $184.44M | - |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | $44.73M | - | $58.19M | $53.95M | $40.89M | - | $54.58M | $56.12M | $51.09M | - |
| R&D | $221.0K | - | $210.0K | $269.0K | $299.0K | - | $241.0K | $231.0K | $343.0K | - |
| SG&A | $36.99M | - | $33.48M | $39.79M | $35.65M | - | $38.87M | $40.96M | $41.19M | - |
| Total Operating Expenses | - | - | - | - | - | - | - | - | - | - |
| D&A | $7.98M | - | $2.16M | $1.99M | $7.76M | - | $8.06M | $8.29M | $8.38M | - |
| Operating Income | $4.68M | - | $20.38M | $8.43M | ($1.01M) | - | $11.86M | $11.96M | $5.55M | - |
| Interest Expense | $2.88M | - | $3.38M | $4.24M | $4.43M | - | $4.30M | $3.86M | $4.43M | - |
| Income Tax | $378.0K | - | $3.80M | $1.06M | ($1.17M) | - | $2.62M | $1.17M | $119.0K | - |
| Net Income | $2.39M | - | $13.11M | $3.02M | ($3.19M) | - | $6.40M | $6.37M | $995.0K | - |
| EPS - Basic | $0.08 | - | $0.21 | $0.10 | ($0.10) | - | - | - | $0.03 | - |
| EPS - Diluted | $0.07 | - | $0.20 | $0.20 | ($0.10) | - | - | - | $0.03 | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $24.99M | $28.01M | $27.80M | $19.96M | $18.54M | $18.32M | $20.36M | $17.18M | $16.86M | $17.65M |
| Accounts Receivable | $151.41M | $154.67M | $174.79M | $159.82M | $128.19M | $127.28M | $144.10M | $149.96M | $140.40M | $132.85M |
| Inventory | $15.28M | $14.00M | $14.79M | $15.12M | $14.14M | $14.48M | $14.51M | $14.94M | $15.08M | $15.28M |
| Accounts Payable | $18.04M | $14.94M | $18.38M | $18.24M | $13.38M | $11.13M | $13.27M | $13.76M | $15.63M | $17.03M |
| Current Assets | $210.88M | $216.19M | $237.50M | $213.31M | $175.97M | $172.47M | $193.33M | $193.46M | $186.97M | $180.36M |
| Total Assets | $572.67M | $578.78M | $596.26M | $571.04M | $526.79M | $523.04M | $551.68M | $548.15M | $542.13M | $534.78M |
| Current Liabilities | $116.82M | $124.31M | $125.79M | $128.49M | $117.55M | $114.92M | $115.16M | $114.55M | $114.88M | $116.52M |
| Long-term Debt | $168.49M | $165.14M | $189.24M | $176.34M | $159.50M | $158.06M | $178.99M | $189.69M | $188.96M | $181.50M |
| Total Liabilities | $339.07M | $343.14M | $368.43M | $354.87M | $327.79M | $324.14M | $346.14M | $354.67M | $354.66M | $344.27M |
| Stockholders' Equity | $233.23M | $235.10M | $227.40M | $215.85M | $198.66M | $198.57M | $205.20M | $193.15M | $187.15M | $190.19M |
| Retained Earnings | $9.24M | $6.85M | $2.96M | ($10.15M) | ($13.17M) | ($9.98M) | ($15.18M) | ($21.58M) | ($27.95M) | ($28.94M) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $2.81M | - | - | - | $5.64M | - | - | - | $604.0K | - |
| Investing Cash Flow | ($5.56M) | - | - | - | ($5.41M) | - | - | - | ($5.65M) | - |
| Financing Cash Flow | ($349.0K) | - | - | - | ($702.0K) | - | - | - | $5.13M | - |
| CapEx | $5.97M | - | - | - | $4.55M | - | - | - | $4.80M | - |
| Free Cash Flow | ($3.16M) | - | - | - | $1.09M | - | - | - | ($4.20M) | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 26.5% | - | 29.8% | 29.1% | 25.3% | - | 29.9% | 29.6% | 27.7% | - |
| Operating margin | 2.8% | - | 10.4% | 4.5% | -0.6% | - | 6.5% | 6.3% | 3.0% | - |
| EBITDA margin | 7.5% | - | 11.5% | 5.6% | 4.2% | - | 10.9% | 10.7% | 7.6% | - |
| Net margin | 1.4% | - | 6.7% | 1.6% | -2.0% | - | 3.5% | 3.4% | 0.5% | - |
| Free cash flow margin | -1.9% | - | - | - | 0.7% | - | - | - | -2.3% | - |
| FCF / Net income | -1.32 | - | - | - | -0.34 | - | - | - | -4.22 | - |
| R&D / Revenue | 0.1% | - | 0.1% | 0.1% | 0.2% | - | 0.1% | 0.1% | 0.2% | - |
| SG&A / Revenue | 21.9% | - | 17.1% | 21.5% | 22.1% | - | 21.3% | 21.6% | 22.3% | - |
| Effective tax rate | 13.7% | - | 22.5% | 26.1% | - | - | 29.0% | 15.6% | 10.7% | - |
| Return on assets | 0.4% | - | 2.2% | 0.5% | -0.6% | - | 1.2% | 1.2% | 0.2% | - |
| Return on equity | 1.0% | - | 5.8% | 1.4% | -1.6% | - | 3.1% | 3.3% | 0.5% | - |
| Return on invested capital | 1.0% | - | 3.8% | 1.6% | -0.2% | - | 2.2% | 2.6% | 1.3% | - |
| Liquidity | ||||||||||
| Current ratio | 1.81 | 1.74 | 1.89 | 1.66 | 1.50 | 1.50 | 1.68 | 1.69 | 1.63 | 1.55 |
| Quick ratio | 1.67 | 1.63 | 1.77 | 1.54 | 1.38 | 1.37 | 1.55 | 1.56 | 1.50 | 1.42 |
| Cash ratio | 0.21 | 0.23 | 0.22 | 0.16 | 0.16 | 0.16 | 0.18 | 0.15 | 0.15 | 0.15 |
| Leverage | ||||||||||
| Debt / Equity | 0.72 | 0.70 | 0.83 | 0.82 | 0.80 | 0.80 | 0.87 | 0.98 | 1.01 | 0.95 |
| Debt / Assets | 0.29 | 0.29 | 0.32 | 0.31 | 0.30 | 0.30 | 0.32 | 0.35 | 0.35 | 0.34 |
| Debt / EBITDA | 13.30 | - | 8.39 | 16.93 | 23.63 | - | 8.99 | 9.37 | 13.56 | - |
| Interest coverage | 1.6x | - | 6.0x | 2.0x | -0.2x | - | 2.8x | 3.1x | 1.3x | - |
| Equity multiplier | 2.46 | 2.46 | 2.62 | 2.65 | 2.65 | 2.63 | 2.69 | 2.84 | 2.90 | 2.81 |
| Liabilities / Assets | 0.59 | 0.59 | 0.62 | 0.62 | 0.62 | 0.62 | 0.63 | 0.65 | 0.65 | 0.64 |
| Efficiency | ||||||||||
| Asset turnover | 0.30 | - | 0.33 | 0.32 | 0.31 | - | 0.33 | 0.35 | 0.34 | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | 327d | - | 326d | 315d | 290d | - | 288d | 288d | 278d | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | 211.1x | - | 49.2x | 40.0x | - | - | - | - | 318.7x | - |
| P / B | 2.1x | - | 1.4x | 1.2x | 1.7x | - | 1.8x | 1.3x | 1.6x | - |
| P / S | 2.9x | - | 1.6x | 1.4x | 2.0x | - | 2.0x | 1.4x | 1.6x | - |
| EV / EBITDA | 49.4x | - | 21.1x | 39.4x | 69.6x | - | 26.0x | 21.3x | 33.9x | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 4.6% | - | 7.0% | -2.3% | -12.4% | - | 1.9% | 7.8% | 9.8% | - |
| Revenue CAGR (3y) | 0.2% | - | 3.1% | 1.2% | -0.0% | - | 1.5% | 2.2% | 6.3% | - |
| Revenue CAGR (5y) | 1.9% | - | 5.7% | 8.3% | 0.3% | - | -1.0% | -1.1% | 0.9% | - |
| Gross profit growth (YoY) | 9.4% | - | 6.6% | -3.9% | -20.0% | - | 0.4% | 12.9% | 10.9% | - |
| Operating income growth (YoY) | - | - | 71.9% | -29.5% | - | - | - | 207.2% | - | - |
| Net income growth (YoY) | - | - | 104.8% | -52.6% | - | - | - | 1789.9% | - | - |
| EPS growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | -9.6% | - | - | - | - | - |
| Book value growth (YoY) | 17.4% | 18.4% | 10.8% | 11.8% | 6.2% | 4.4% | 10.6% | -3.5% | -4.4% | -4.2% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$741.94M totalNorth America Segment$584.13M · 78.7%
International$143.84M · 19.4%
Productsand Systems$13.97M · 1.9%
Product / service
$584.13M totalOil Gas$360.16M · 61.7%
Aerospaceand Defense$67.07M · 11.5%
Industrials$50.28M · 8.6%
Power Generation And Transmission$33.57M · 5.7%
Other Process Industries$22.18M · 3.8%
Infrastructure Researchand Engineering$18.94M · 3.2%
Other Productsand Services$18.91M · 3.2%
Petrochemical$13.01M · 2.2%
Geographic
$584.13M totalUS$502.48M · 86.0%
Other Americas$74.57M · 12.8%
Europe$3.89M · 0.7%
Asia Pacific$3.19M · 0.5%
Peer comparison
Same SIC group: Services-Engineering Services
Comparing Mistras Group against the 5 most active filers in the same SIC group.