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Mistras Group (MG) Financials

Mistras Group logo
$18.94 -0.57 (-2.92%)
As of 08/21/2026 03:58 PM Eastern
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Annual Income Statements for Mistras Group

Annual Income Statements for Mistras Group

This table shows Mistras Group's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 5/31/2015 5/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 16 25 -2.18 6.84 6.06 -99 3.86 6.50 -17 19 17
Consolidated Net Income / (Loss)		 16 25 -2.17 6.85 6.08 -99 3.89 6.57 -17 19 17
Net Income / (Loss) Continuing Operations		 16 25 -2.17 6.85 6.08 -99 3.89 6.57 -17 19 17
Total Pre-Tax Income 		26 38 -0.23 14 10 -114 7.29 9.29 -19 24 22
Total Operating Income		 30 43 4.16 22 24 -101 18 20 -1.90 40 41
Total Gross Profit		 185 203 187 207 214 179 197 198 184 192 205
Total Revenue		 711 719 701 742 749 593 677 687 705 730 724
Operating Revenue		 711 719 701 742 749 593 677 687 705 730 724
Total Cost of Revenue		 527 516 514 535 534 414 480 489 521 537 520
Operating Cost of Revenue		 527 516 513 534 531 414 480 489 521 537 520
Total Operating Expenses		 154 160 182 185 190 280 179 178 186 152 164
Selling, General & Admin Expense		 144 141 152 166 169 157 161 166 147 135 140
Research & Development Expense		 2.52 2.52 2.27 3.31 3.05 2.89 2.52 1.99 1.72 1.12 1.03
Depreciation Expense		 13 11 10 12 17 14 12 11 10 9.41 8.64
Impairment Charge		 0.00 0.00 16 0.00 0.00 106 0.00 0.00 14 0.00 0.00
Restructuring Charge		 - - - - - - 0.00 0.20 12 5.52 13
Other Special Charges / (Income)		 0.00 6.32 1.60 - 0.00 -0.22 2.04 -0.99 1.06 0.85 1.74
Total Other Income / (Expense), net		 -4.62 -4.76 -4.39 -7.95 -14 -13 -11 -11 -17 -16 -18
Interest Expense		 4.62 4.76 4.39 7.95 14 13 11 11 17 17 15
Other Income / (Expense), net		 - - - - - - - - 0.00 1.49 -3.45
Income Tax Expense		 9.74 14 1.94 7.43 4.36 -15 3.40 2.72 -1.22 5.27 5.56
Net Income / (Loss) Attributable to Noncontrolling Interest		 -0.09 -0.00 0.01 0.01 0.02 -0.01 0.03 0.08 0.01 0.01 0.08
Basic Earnings per Share		 $0.56 $0.85 ($0.08) $0.24 $0.21 ($3.41) - $0.22 ($0.58) $0.61 $0.54
Weighted Average Basic Shares Outstanding		 28.61M 28.86M 28.42M 28.41M 28.74M 29.15M 29.57M 29.90M 30.33M 30.93M 31.41M
Diluted Earnings per Share		 $0.54 $0.82 ($0.08) $0.23 $0.21 ($3.41) - $0.21 ($0.58) $0.60 $0.53
Weighted Average Diluted Shares Outstanding		 29.59M 29.89M 28.42M 29.43M 29.05M 29.15M 30.13M 30.23M 30.33M 31.61M 32.06M
Weighted Average Basic & Diluted Shares Outstanding		 28.70M 29M 27.20M 28.50M 29.04M 29.23M 29.55M 29.93M 30.63M 31.03M 31.60M

Quarterly Income Statements for Mistras Group

This table shows Mistras Group's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Income / (Loss) Attributable to Common Shareholders		 -2.51 1.00 6.37 6.40 5.19 -3.19 3.02 13 3.90 2.39 7.58
Consolidated Net Income / (Loss)		 -2.51 1.00 6.37 6.42 5.18 -3.17 3.13 13 3.76 2.36 7.55
Net Income / (Loss) Continuing Operations		 -2.51 1.00 6.37 6.42 5.18 -3.17 3.13 13 3.76 2.36 7.55
Total Pre-Tax Income 		-3.95 1.12 7.55 9.03 6.54 -4.34 4.19 17 5.63 2.74 9.82
Total Operating Income		 0.72 5.55 12 12 10 -1.01 8.43 20 13 4.68 13
Total Gross Profit		 54 46 51 49 51 41 54 58 51 45 56
Total Revenue		 182 184 190 183 173 162 185 196 181 169 193
Operating Revenue		 182 184 190 183 173 162 185 196 181 169 193
Total Cost of Revenue		 128 138 138 134 121 121 131 137 130 124 137
Operating Cost of Revenue		 128 138 138 134 121 121 131 137 130 124 137
Total Operating Expenses		 53 41 39 37 41 42 46 38 39 40 43
Selling, General & Admin Expense		 43 36 36 33 35 36 40 33 31 37 39
Research & Development Expense		 0.29 0.34 0.23 0.24 0.30 0.30 0.27 0.21 0.25 0.22 0.24
Depreciation Expense		 2.55 2.45 2.39 2.33 2.24 2.33 1.99 2.16 2.17 2.50 2.55
Restructuring Charge		 6.25 1.56 0.52 2.14 1.30 3.09 2.95 1.76 4.85 0.48 1.53
Other Special Charges / (Income)		 - 0.00 0.06 -0.87 - 0.54 0.52 0.20 0.49 -0.13 0.46
Total Other Income / (Expense), net		 -4.67 -4.43 -4.41 -2.82 -3.92 -3.32 -4.24 -3.38 -7.15 -1.95 -3.13
Interest Expense		 4.67 4.43 4.41 4.30 3.92 3.32 4.24 3.38 3.70 2.88 4.14
Other Income / (Expense), net		 - - - 1.48 - 0.00 0.00 0.00 - 0.93 1.01
Income Tax Expense		 -1.45 0.12 1.17 2.62 1.36 -1.17 1.06 3.80 1.87 0.38 2.27
Net Income / (Loss) Attributable to Noncontrolling Interest		 0.00 0.01 0.00 0.02 -0.02 0.02 0.11 0.10 -0.14 -0.03 -0.03
Basic Earnings per Share		 - $0.03 $0.21 $0.21 - ($0.10) $0.10 $0.42 $0.12 $0.08 $0.24
Weighted Average Basic Shares Outstanding		 30.33M 30.68M 30.98M 31.00M 30.93M 31.10M 31.44M 31.54M 31.41M 31.62M 31.83M
Diluted Earnings per Share		 - $0.03 $0.20 $0.20 - ($0.10) $0.10 $0.41 $0.12 $0.07 $0.23
Weighted Average Diluted Shares Outstanding		 30.33M 31.36M 31.29M 31.66M 31.61M 31.10M 31.69M 31.88M 32.06M 32.66M 32.92M
Weighted Average Basic & Diluted Shares Outstanding		 30.63M 30.97M 30.98M 31.01M 31.03M 31.33M 31.54M 31.55M 31.60M 31.82M 31.85M

Annual Cash Flow Statements for Mistras Group

This table details how cash moves in and out of Mistras Group's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 5/31/2015 5/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 0.54 11 8.39 0.18 -11 11 -1.65 -3.62 -2.84 0.67 9.69
Net Cash From Operating Activities		 50 68 56 42 59 68 42 26 27 50 33
Net Cash From Continuing Operating Activities		 50 68 56 42 59 68 42 26 27 50 33
Net Income / (Loss) Continuing Operations		 16 25 -2.17 6.85 6.08 -99 3.89 6.57 -17 19 17
Consolidated Net Income / (Loss)		 16 25 -2.17 6.85 6.08 -99 3.89 6.57 -17 19 17
Depreciation Expense		 33 32 31 34 39 36 35 33 34 33 31
Non-Cash Adjustments To Reconcile Net Income		 11 5.46 24 6.15 11 118 6.91 5.07 20 3.68 10
Changes in Operating Assets and Liabilities, net		 -10 5.54 2.92 -5.74 3.91 14 -3.46 -19 -10 -5.53 -25
Net Cash From Investing Activities		 -50 -17 -103 -155 -25 -15 -19 -12 -22 -21 -25
Net Cash From Continuing Investing Activities		 -50 -17 -103 -155 -25 -15 -19 -12 -22 -21 -25
Purchase of Property, Plant & Equipment		 -15 -15 -19 -21 -22 -15 -18 -13 -21 -18 -25
Acquisitions		 -35 -1.74 -83 -140 -4.23 0.00 -0.44 - -2.80 -5.08 -4.52
Sale of Property, Plant & Equipment		 1.00 1.17 1.20 1.42 1.87 0.80 1.17 1.18 1.52 1.62 4.07
Net Cash From Financing Activities		 2.07 -40 53 114 -44 -44 -23 -16 -7.71 -27 -0.60
Net Cash From Continuing Financing Activities		 2.07 -40 53 114 -44 -44 -23 -16 -7.71 -27 -0.60
Repayment of Debt		 -107 -95 -60 -54 -69 -76 -106 -328 -85 -98 -74
Issuance of Debt		 113 59 131 178 33 38 89 318 84 72 82
Other Financing Activities, net		 -3.56 -3.87 -1.93 -10 -8.56 -6.68 -6.37 -5.52 -6.62 -1.31 -8.28
Other Net Changes in Cash		 - - 2.34 - - 2.08 -2.12 - - - 2.43
Cash Interest Paid		 4.50 4.15 4.26 7.75 14 12 10 8.60 17 16 13
Cash Income Taxes Paid		 13 11 3.06 11 6.10 -0.54 4.71 -3.07 6.90 6.41 9.33

Quarterly Cash Flow Statements for Mistras Group

This table details how cash moves in and out of Mistras Group's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Change in Cash & Equivalents		 4.89 -0.79 0.32 3.18 -2.04 0.22 1.42 7.85 0.20 -3.02 -3.00
Net Cash From Operating Activities		 16 0.60 4.51 19 26 5.65 -9.26 4.46 32 2.81 15
Net Cash From Continuing Operating Activities		 16 0.60 4.51 19 26 5.65 -9.26 4.46 32 2.81 15
Net Income / (Loss) Continuing Operations		 -2.51 1.00 6.37 6.42 5.18 -3.17 3.13 13 3.76 2.36 7.55
Consolidated Net Income / (Loss)		 -2.51 1.00 6.37 6.42 5.18 -3.17 3.13 13 3.76 2.36 7.55
Depreciation Expense		 8.63 8.38 8.29 8.06 8.28 7.76 7.71 7.69 7.85 7.98 8.27
Non-Cash Adjustments To Reconcile Net Income		 1.38 0.91 1.17 1.34 0.26 2.78 4.82 0.56 2.19 -1.05 1.17
Changes in Operating Assets and Liabilities, net		 8.56 -9.69 -11 3.55 12 -1.73 -25 -17 18 -6.48 -2.08
Net Cash From Investing Activities		 -6.96 -5.65 -5.57 -5.94 -4.21 -5.41 -6.00 -7.55 -6.16 -5.56 -6.30
Net Cash From Continuing Investing Activities		 -6.96 -5.65 -5.57 -5.94 -4.21 -5.41 -6.00 -7.55 -6.16 -5.56 -6.30
Purchase of Property, Plant & Equipment		 -6.45 -4.80 -4.80 -4.72 -3.59 -4.56 -5.45 -8.53 -6.14 -5.97 -4.76
Acquisitions		 - - - - - -1.27 - -0.87 -1.35 -1.29 -1.95
Sale of Property, Plant & Equipment		 0.42 0.27 0.51 0.21 0.63 0.41 0.47 1.86 1.33 1.70 0.41
Net Cash From Financing Activities		 -5.87 5.13 0.13 -12 -21 -0.70 16 11 -27 -0.35 -11
Net Cash From Continuing Financing Activities		 -5.87 5.13 0.13 -12 -21 -0.70 16 11 -27 -0.35 -11
Repayment of Debt		 -21 -6.91 -17 -30 -38 -17 -9.35 -14 -32 -16 -18
Issuance of Debt		 18 15 19 20 19 19 28 27 7.50 19 8.50
Other Financing Activities, net		 -2.21 -2.97 -1.19 -1.35 -1.29 -2.80 -3.04 -1.42 -2.34 -3.56 -1.66
Effect of Exchange Rate Changes		 - -0.87 - - -2.34 - 1.08 -0.37 - 0.08 -0.72
Cash Interest Paid		 4.40 4.03 4.32 4.25 2.98 3.09 3.82 3.16 3.29 2.95 2.75
Cash Income Taxes Paid		 3.20 0.76 0.75 2.90 2.00 1.68 5.10 0.10 2.45 1.44 1.51

Annual Balance Sheets for Mistras Group

This table presents Mistras Group's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 5/31/2015 5/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 472 483 554 694 720 583 562 535 535 523 579
Total Current Assets		 171 188 195 203 179 163 161 168 180 172 216
Cash & Equivalents		 11 21 28 26 15 26 24 20 18 18 28
Accounts Receivable		 133 138 138 148 136 108 110 124 133 127 155
Inventories, net		 11 9.92 11 13 13 13 13 14 15 14 14
Prepaid Expenses		 12 13 19 16 15 16 15 10 15 12 20
Plant, Property, & Equipment, net		 79 79 87 94 99 0.00 87 78 81 81 93
Total Noncurrent Assets		 221 216 272 397 442 421 314 289 273 270 269
Goodwill		 166 169 203 279 282 206 205 200 187 181 185
Intangible Assets		 51 43 64 111 110 69 59 49 44 40 38
Noncurrent Deferred & Refundable Income Taxes		 1.21 1.00 1.61 1.93 1.79 2.07 2.17 0.78 2.32 6.27 5.38
Other Noncurrent Operating Assets		 2.11 2.34 3.51 4.77 48 144 47 40 40 42 41
Total Liabilities & Shareholders' Equity		 472 483 554 694 720 583 562 535 535 523 579
Total Liabilities		 227 206 284 423 434 386 361 336 344 324 343
Total Current Liabilities		 94 97 90 100 109 110 121 104 117 115 124
Short-Term Debt		 27 20 8.23 11 6.59 11 20 7.43 8.90 12 13
Accounts Payable		 11 11 10 14 15 14 13 13 17 11 15
Accrued Expenses		 56 63 66 74 81 79 84 78 84 85 88
Current Deferred & Payable Income Tax Liabilities		 0.53 2.71 6.07 1.96 2.09 2.66 0.76 1.73 1.10 1.66 1.47
Other Current Liabilities		 - - - - 4.13 3.77 3.77 4.20 5.16 5.32 7.03
Total Noncurrent Liabilities		 133 110 193 322 325 276 240 232 228 209 219
Long-Term Debt		 96 72 165 284 248 210 182 184 181 158 165
Noncurrent Deferred & Payable Income Tax Liabilities		 17 18 8.80 23 21 8.24 8.39 6.28 2.55 1.97 1.26
Other Noncurrent Operating Liabilities		 9.93 6.79 11 6.48 42 47 49 42 44 49 52
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 245 276 271 271 286 197 201 199 191 199 236
Total Preferred & Common Equity		 245 276 271 271 286 197 201 198 190 199 235
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 245 276 271 271 286 197 201 198 190 199 235
Common Stock		 208 214 223 227 229 235 239 243 247 251 257
Retained Earnings		 58 82 65 72 78 -22 -18 -11 -29 -9.98 6.85
Accumulated Other Comprehensive Income / (Loss)		 -21 -20 -17 -28 -21 -16 -20 -33 -28 -43 -29
Noncontrolling Interest		 0.19 0.13 0.17 0.18 0.20 0.20 0.23 0.30 0.31 0.33 0.54

Quarterly Balance Sheets for Mistras Group

This table presents Mistras Group's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026
Period end date 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026 6/30/2026
Total Assets		 531 541 537 542 548 552 527 571 596 573 584
Total Current Assets		 166 171 183 187 193 193 176 213 237 211 219
Cash & Equivalents		 17 18 13 17 17 20 19 20 28 25 22
Accounts Receivable		 120 119 136 140 150 144 128 160 175 151 162
Inventories, net		 15 16 16 15 15 15 14 15 15 15 17
Prepaid Expenses		 14 18 18 15 11 14 15 18 20 19 18
Plant, Property, & Equipment, net		 79 81 80 80 79 80 83 86 88 95 100
Total Noncurrent Assets		 286 289 274 275 276 279 268 272 271 267 265
Goodwill		 200 202 186 186 185 186 182 185 184 184 182
Intangible Assets		 47 46 44 43 42 42 39 40 38 38 38
Noncurrent Deferred & Refundable Income Taxes		 0.33 0.92 2.23 2.65 3.66 5.64 6.35 6.69 5.07 5.67 5.64
Other Noncurrent Operating Assets		 38 40 42 44 46 45 41 40 44 40 39
Total Liabilities & Shareholders' Equity		 531 541 537 542 548 552 527 571 596 573 584
Total Liabilities		 335 340 351 355 355 346 328 355 368 339 344
Total Current Liabilities		 103 110 111 115 115 115 118 128 126 117 128
Short-Term Debt		 7.37 7.55 8.40 9.46 10 11 12 13 13 13 13
Accounts Payable		 14 17 15 16 14 13 13 18 18 18 22
Accrued Expenses		 77 79 82 84 86 86 85 90 88 78 84
Current Deferred & Payable Income Tax Liabilities		 0.33 0.98 1.03 0.41 0.39 0.96 0.57 1.03 0.44 0.49 0.42
Other Current Liabilities		 4.75 5.19 5.25 4.91 4.65 4.59 5.74 5.68 6.08 7.32 8.14
Total Noncurrent Liabilities		 231 231 240 240 240 231 210 226 243 222 216
Long-Term Debt		 182 176 185 189 190 179 160 176 189 168 159
Noncurrent Deferred & Payable Income Tax Liabilities		 7.87 10 8.54 2.69 2.57 3.78 2.09 2.22 2.88 1.91 2.47
Other Noncurrent Operating Liabilities		 42 44 46 48 48 48 49 48 51 52 55
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 196 201 186 187 193 206 199 216 228 234 240
Total Preferred & Common Equity		 196 200 185 187 193 205 199 216 227 233 240
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 196 200 185 187 193 205 199 216 227 233 240
Common Stock		 244 245 246 248 249 250 252 254 256 257 260
Retained Earnings		 -16 -16 -26 -28 -22 -15 -13 -10 2.96 9.24 17
Accumulated Other Comprehensive Income / (Loss)		 -32 -29 -34 -33 -34 -30 -40 -28 -31 -33 -36
Noncontrolling Interest		 0.31 0.35 0.31 0.32 0.32 0.34 0.34 0.33 0.42 0.37 0.21

Annual Metrics And Ratios for Mistras Group

This table displays calculated financial ratios and metrics derived from Mistras Group's official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 5/31/2015 5/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 28,702,420.00 28,924,214.00 28,290,709.00 28,543,235.00 28,915,088.00 29,192,562.00 29,458,243.00 - - - 31,548,153.00
DEI Adjusted Shares Outstanding		 28,702,420.00 28,924,214.00 28,290,709.00 28,543,235.00 28,915,088.00 29,192,562.00 29,458,243.00 - - - 31,548,153.00
DEI Earnings Per Adjusted Shares Outstanding		 0.56 0.85 -0.08 0.24 0.21 -3.41 0.13 - - - 0.53
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 14.08% 1.11% -2.53% 5.90% 0.84% -20.84% 14.27% 1.51% 2.63% 3.43% -0.77%
EBITDA Growth		 -4.62% 18.88% -53.02% 59.34% 10.66% -204.53% 181.04% 0.00% -39.36% 130.85% -8.33%
EBIT Growth		 -20.74% 42.25% -90.37% 434.16% 8.62% -519.34% 117.95% 8.97% -109.62% 2,269.70% -10.14%
NOPAT Growth		 -23.41% 46.88% -89.49% 266.01% 31.90% -603.99% 113.70% 44.29% -109.52% 2,438.11% -1.99%
Net Income Growth		 -29.17% 54.15% -108.80% 415.73% -11.18% -1,735.95% 103.91% 68.87% -365.36% 208.74% -10.80%
EPS Growth		 -29.87% 51.85% -109.76% 387.50% -8.70% -1,723.81% 0.00% 0.00% -376.19% 0.00% -11.67%
Operating Cash Flow Growth		 35.17% 36.69% -18.09% -25.33% 41.87% 14.70% -37.67% -37.52% 1.30% 87.41% -34.21%
Free Cash Flow Firm Growth		 25.70% 289.98% -276.46% -83.60% 121.49% 166.41% -49.13% -27.98% -79.37% 797.65% -111.00%
Invested Capital Growth		 11.32% -2.02% 18.02% 29.29% -1.89% -25.24% -5.82% -2.60% -1.69% -3.59% 10.11%
Revenue Q/Q Growth		 -0.62% 1.34% 0.50% -0.92% -0.24% -2.98% 1.56% -0.43% 2.00% -1.26% 1.22%
EBITDA Q/Q Growth		 -7.17% 0.54% 1.38% -4.78% 1.87% 1.90% -3.76% 4.83% -12.56% 17.15% -2.25%
EBIT Q/Q Growth		 -16.14% 0.68% 48.78% -14.54% -0.68% 2.24% -11.44% 21.48% -159.72% 37.31% -2.96%
NOPAT Q/Q Growth		 -18.05% 0.33% 48.78% -10.58% 64.25% 2.24% -5.67% 73.90% -159.72% 26.17% 1.85%
Net Income Q/Q Growth		 -21.16% 2.63% -718.11% -22.02% 45.45% -0.68% -6.22% 81.75% -44.50% 68.05% -7.73%
EPS Q/Q Growth		 -21.74% 1.23% -100.00% -23.33% 40.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Cash Flow Q/Q Growth		 2.13% -4.22% 17.35% -6.91% 1.99% 12.21% -12.83% -12.92% 0.71% 23.67% 24.45%
Free Cash Flow Firm Q/Q Growth		 35.32% -27.62% -1,424.16% -113.62% 124.05% 10.37% 258.69% -43.85% -10.74% 164.39% -288.63%
Invested Capital Q/Q Growth		 -1.95% 1.75% 18.08% 29.25% 0.70% -0.19% -6.24% -0.18% -0.99% -6.58% -4.14%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 25.97% 28.23% 26.61% 27.91% 28.62% 30.13% 29.12% 28.83% 28.89% 29.21% 28.25%
EBITDA Margin		 8.95% 10.52% 5.07% 7.63% 8.37% -11.06% 7.84% 7.72% 4.56% 10.19% 9.41%
Operating Margin		 4.27% 6.00% 0.59% 2.99% 3.22% -17.08% 2.68% 2.88% -0.27% 5.46% 5.60%
EBIT Margin		 4.27% 6.00% 0.59% 2.99% 3.22% -17.08% 2.68% 2.88% -0.27% 5.66% 5.13%
Profit (Net Income) Margin		 2.25% 3.43% -0.31% 0.92% 0.81% -16.79% 0.57% 0.96% -2.47% 2.60% 2.34%
Tax Burden Percent		 62.15% 64.17% 959.29% 47.96% 58.24% 87.12% 53.42% 70.73% 93.46% 78.25% 75.28%
Interest Burden Percent		 84.77% 88.97% -5.43% 64.22% 43.25% 112.80% 40.11% 46.94% 980.30% 58.69% 60.55%
Effective Tax Rate		 37.85% 35.83% 0.00% 52.04% 41.76% 0.00% 46.58% 29.27% 0.00% 21.75% 24.72%
Return on Invested Capital (ROIC)		 5.41% 7.62% 0.74% 2.19% 2.58% -15.05% 2.48% 3.74% -0.36% 8.74% 8.30%
ROIC Less NNEP Spread (ROIC-NNEP)		 2.67% 4.65% -3.53% 0.42% -0.42% -27.54% -0.55% -0.52% -9.74% 1.21% -0.74%
Return on Net Nonoperating Assets (RNNOA)		 1.15% 1.84% -1.53% 0.34% -0.40% -26.12% -0.53% -0.45% -8.60% 1.01% -0.51%
Return on Equity (ROE)		 6.56% 9.46% -0.79% 2.53% 2.18% -41.17% 1.96% 3.29% -8.96% 9.74% 7.79%
Cash Return on Invested Capital (CROIC)		 -5.30% 9.66% -15.79% -23.36% 4.49% 13.83% 8.47% 6.37% 1.34% 12.39% -1.32%
Operating Return on Assets (OROA)		 6.63% 9.05% 0.80% 3.56% 3.41% -15.53% 3.17% 3.61% -0.36% 7.81% 6.74%
Return on Assets (ROA)		 3.49% 5.17% -0.42% 1.10% 0.86% -15.27% 0.68% 1.20% -3.26% 3.59% 3.07%
Return on Common Equity (ROCE)		 6.56% 9.45% -0.79% 2.52% 2.18% -41.13% 1.95% 3.29% -8.95% 9.73% 7.77%
Return on Equity Simple (ROE_SIMPLE)		 6.53% 8.93% -0.80% 2.53% 2.13% -50.49% 1.94% 3.31% -9.17% 9.55% 0.00%
Net Operating Profit after Tax (NOPAT)		 19 28 2.91 11 14 -71 9.71 14 -1.33 31 31
NOPAT Margin		 2.65% 3.85% 0.42% 1.44% 1.88% -11.96% 1.43% 2.04% -0.19% 4.27% 4.22%
Net Nonoperating Expense Percent (NNEP)		 2.74% 2.97% 4.28% 1.77% 3.01% 12.49% 3.03% 4.26% 9.38% 7.52% 9.04%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - 3.59% -0.35% 8.46% 7.38%
Cost of Revenue to Revenue		 74.03% 71.77% 73.39% 72.09% 71.38% 69.87% 70.89% 71.18% 71.11% 70.79% 71.75%
SG&A Expenses to Revenue		 20.24% 19.64% 21.66% 22.32% 22.53% 26.52% 23.83% 24.21% 23.64% 21.43% 19.32%
R&D to Revenue		 0.35% 0.35% 0.32% 0.45% 0.41% 0.49% 0.37% 0.29% 0.24% 0.15% 0.14%
Operating Expenses to Revenue		 21.71% 22.22% 26.01% 24.92% 25.40% 47.21% 26.43% 25.94% 29.16% 23.75% 22.64%
Earnings before Interest and Taxes (EBIT)		 30 43 4.16 22 24 -101 18 20 -1.90 41 37
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 64 76 36 57 63 -66 53 53 32 74 68
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 2.17 2.60 2.45 1.52 1.44 1.15 1.09 0.74 1.17 1.41 1.70
Price to Tangible Book Value (P/TBV)		 19.58 11.31 192.91 0.00 0.00 0.00 0.00 0.00 0.00 0.00 33.63
Price to Revenue (P/Rev)		 0.75 1.00 0.95 0.55 0.55 0.38 0.32 0.21 0.31 0.39 0.55
Price to Earnings (P/E)		 33.04 29.11 0.00 60.04 68.09 0.00 56.70 22.68 0.00 14.82 23.70
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 3.03% 3.44% 0.00% 1.67% 1.47% 0.00% 1.76% 4.41% 0.00% 6.75% 4.22%
Enterprise Value to Invested Capital (EV/IC)		 1.78 2.23 1.93 1.25 1.24 1.07 1.05 0.86 1.09 1.24 1.43
Enterprise Value to Revenue (EV/Rev)		 0.92 1.11 1.17 0.93 0.89 0.73 0.59 0.46 0.56 0.59 0.76
Enterprise Value to EBITDA (EV/EBITDA)		 10.27 10.59 23.02 12.16 10.62 0.00 7.49 6.00 12.28 5.82 8.07
Enterprise Value to EBIT (EV/EBIT)		 21.54 18.56 196.66 30.99 27.57 0.00 21.88 16.08 0.00 10.47 14.81
Enterprise Value to NOPAT (EV/NOPAT)		 34.66 28.92 280.94 64.62 47.34 0.00 40.96 22.74 0.00 13.88 18.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 13.12 11.76 14.66 16.53 11.26 6.38 9.41 12.06 14.78 8.63 16.66
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 22.82 0.00 0.00 27.23 6.64 12.00 13.35 80.28 9.79 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.54 0.38 0.67 1.12 0.94 1.17 1.01 0.96 1.00 0.85 0.76
Long-Term Debt to Equity		 0.43 0.31 0.64 1.08 0.91 1.12 0.91 0.92 0.95 0.79 0.70
Financial Leverage		 0.43 0.39 0.43 0.80 0.95 0.95 0.96 0.87 0.88 0.83 0.69
Leverage Ratio		 1.88 1.83 1.90 2.30 2.54 2.70 2.88 2.75 2.75 2.72 2.54
Compound Leverage Factor		 1.59 1.63 -0.10 1.48 1.10 3.04 1.15 1.29 26.94 1.59 1.54
Debt to Total Capital		 35.15% 27.50% 40.13% 52.83% 48.35% 53.98% 50.20% 49.04% 49.99% 46.03% 43.03%
Short-Term Debt to Total Capital		 7.03% 5.35% 1.82% 1.87% 1.19% 2.49% 5.00% 1.90% 2.34% 3.15% 3.11%
Long-Term Debt to Total Capital		 28.13% 22.15% 38.31% 50.96% 47.16% 51.49% 45.21% 47.13% 47.65% 42.89% 39.92%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.05% 0.03% 0.04% 0.03% 0.04% 0.05% 0.06% 0.08% 0.08% 0.09% 0.13%
Common Equity to Total Capital		 64.80% 72.47% 59.83% 47.14% 51.61% 45.97% 49.74% 50.88% 49.93% 53.88% 56.84%
Debt to EBITDA		 2.09 1.39 5.11 5.36 4.27 -3.53 3.82 3.60 5.91 2.28 2.61
Net Debt to EBITDA		 1.92 1.10 4.33 4.91 4.03 -3.14 3.36 3.22 5.37 2.04 2.20
Long-Term Debt to EBITDA		 1.67 1.12 4.87 5.17 4.17 -3.37 3.44 3.46 5.64 2.13 2.42
Debt to NOPAT		 7.04 3.78 62.33 28.49 19.05 -3.27 20.87 13.66 -142.86 5.44 5.83
Net Debt to NOPAT		 6.48 3.02 52.87 26.09 17.98 -2.90 18.39 12.19 -129.62 4.86 4.91
Long-Term Debt to NOPAT		 5.63 3.05 59.50 27.48 18.58 -3.11 18.79 13.13 -136.18 5.07 5.41
Altman Z-Score		 3.50 4.34 3.08 2.08 1.99 0.85 1.72 1.78 1.76 2.28 2.37
Noncontrolling Interest Sharing Ratio		 0.10% 0.06% 0.05% 0.06% 0.07% 0.08% 0.11% 0.13% 0.16% 0.16% 0.20%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.83 1.94 2.16 2.02 1.64 1.48 1.33 1.62 1.55 1.50 1.74
Quick Ratio		 1.54 1.64 1.84 1.73 1.38 1.21 1.10 1.39 1.29 1.27 1.47
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -18 35 -62 -114 24 65 33 24 4.92 44 -4.86
Operating Cash Flow to CapEx		 353.27% 497.47% 307.98% 217.36% 292.93% 464.62% 248.65% 231.37% 138.32% 307.88% 160.07%
Free Cash Flow to Firm to Interest Expense		 -4.00 7.37 -14.13 -14.31 1.78 5.03 3.04 2.27 0.29 2.59 -0.33
Operating Cash Flow to Interest Expense		 10.78 14.31 12.72 5.24 4.32 5.23 3.88 2.51 1.60 2.94 2.25
Operating Cash Flow Less CapEx to Interest Expense		 7.73 11.43 8.59 2.83 2.84 4.11 2.32 1.43 0.44 1.98 0.85
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 1.55 1.51 1.35 1.19 1.06 0.91 1.18 1.25 1.32 1.38 1.31
Accounts Receivable Turnover		 5.25 5.30 5.08 5.18 5.27 4.86 6.24 5.90 5.50 5.61 5.14
Inventory Turnover		 47.40 49.73 50.39 45.43 40.38 31.19 37.18 37.29 34.79 34.70 36.47
Fixed Asset Turnover		 9.06 9.11 8.45 8.20 7.78 0.00 0.00 8.38 8.90 9.02 8.32
Accounts Payable Turnover		 41.28 48.41 48.63 44.18 36.98 28.29 35.41 38.52 33.94 36.69 39.85
Days Sales Outstanding (DSO)		 69.55 68.81 71.86 70.41 69.32 75.03 58.52 61.91 66.36 65.06 71.07
Days Inventory Outstanding (DIO)		 7.70 7.34 7.24 8.03 9.04 11.70 9.82 9.79 10.49 10.52 10.01
Days Payable Outstanding (DPO)		 8.84 7.54 7.51 8.26 9.87 12.90 10.31 9.48 10.76 9.95 9.16
Cash Conversion Cycle (CCC)		 68.41 68.60 71.59 70.18 68.49 73.83 58.03 62.22 66.09 65.63 71.92
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 367 360 425 549 539 403 379 370 363 350 386
Invested Capital Turnover		 2.04 1.98 1.79 1.52 1.38 1.26 1.73 1.84 1.93 2.05 1.97
Increase / (Decrease) in Invested Capital		 37 -7.40 65 124 -10 -136 -23 -9.86 -6.26 -13 35
Enterprise Value (EV)		 654 801 818 689 666 432 398 318 395 433 550
Market Capitalization		 531 718 664 410 413 227 219 147 222 281 399
Book Value per Share		 $8.53 $9.55 $9.57 $9.49 $9.88 $6.75 $6.81 $6.64 $6.27 $6.40 $7.45
Tangible Book Value per Share		 $0.95 $2.19 $0.12 ($4.20) ($3.67) ($2.66) ($2.18) ($1.68) ($1.36) ($0.73) $0.38
Total Capital		 378 381 452 575 554 429 403 390 381 369 414
Total Debt		 133 105 181 304 268 231 203 191 190 170 178
Total Long-Term Debt		 106 84 173 293 261 221 182 184 181 158 165
Net Debt		 122 84 154 278 253 206 178 171 173 151 150
Capital Expenditures (CapEx)		 14 14 18 19 20 15 17 11 19 16 21
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 94 90 85 88 61 38 36 51 55 51 77
Debt-free Net Working Capital (DFNWC)		 104 111 113 113 77 63 60 72 73 69 105
Net Working Capital (NWC)		 78 91 105 102 70 53 40 64 64 58 92
Net Nonoperating Expense (NNE)		 2.87 3.06 5.08 3.81 7.98 29 5.81 7.43 16 12 14
Net Nonoperating Obligations (NNO)		 122 84 154 278 253 206 178 171 173 151 150
Total Depreciation and Amortization (D&A)		 33 32 31 34 39 36 35 33 34 33 31
Debt-free, Cash-free Net Working Capital to Revenue		 13.21% 12.55% 12.19% 11.79% 8.21% 6.36% 5.31% 7.43% 7.81% 6.96% 10.60%
Debt-free Net Working Capital to Revenue		 14.69% 15.50% 16.12% 15.23% 10.22% 10.70% 8.87% 10.41% 10.31% 9.48% 14.47%
Net Working Capital to Revenue		 10.96% 12.66% 14.95% 13.78% 9.34% 8.90% 5.90% 9.33% 9.05% 7.89% 12.69%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.56 $0.85 ($0.08) $0.24 $0.21 ($3.41) $0.13 $0.00 $0.00 $0.00 $0.54
Adjusted Weighted Average Basic Shares Outstanding		 28.61M 28.86M 28.42M 28.41M 28.74M 29.15M 29.57M 0.00 30.33M 30.93M 31.41M
Adjusted Diluted Earnings per Share		 $0.54 $0.82 ($0.08) $0.23 $0.21 ($3.41) $0.13 $0.00 $0.00 $0.00 $0.53
Adjusted Weighted Average Diluted Shares Outstanding		 29.59M 29.89M 28.42M 29.43M 29.05M 29.15M 30.13M 0.00 30.33M 31.61M 32.06M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 28.70M 28.96M 28.30M 28.56M 29.04M 29.23M 29.55M 0.00 30.63M 31.03M 31.60M
Normalized Net Operating Profit after Tax (NOPAT)		 19 32 15 16 14 3.24 11 13 18 36 41
Normalized NOPAT Margin		 2.65% 4.42% 2.15% 2.10% 1.88% 0.55% 1.59% 1.96% 2.50% 4.95% 5.72%
Pre Tax Income Margin		 3.62% 5.34% -0.03% 1.92% 1.39% -19.27% 1.08% 1.35% -2.65% 3.32% 3.10%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 6.57 9.07 0.95 2.80 1.76 -7.81 1.67 1.88 -0.11 2.42 2.54
NOPAT to Interest Expense		 4.08 5.82 0.66 1.34 1.03 -5.47 0.89 1.33 -0.08 1.83 2.09
EBIT Less CapEx to Interest Expense		 3.51 6.19 -3.18 0.38 0.29 -8.94 0.11 0.80 -1.27 1.47 1.13
NOPAT Less CapEx to Interest Expense		 1.03 2.94 -3.47 -1.07 -0.45 -6.60 -0.67 0.25 -1.23 0.87 0.68
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% -734.46% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Quarterly Metrics And Ratios for Mistras Group

This table displays calculated financial ratios and metrics derived from Mistras Group's official financial filings.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
DEI Shares Outstanding		 - - - - - 31,032,045.00 31,329,814.00 31,538,050.00 31,548,153.00 31,595,562.00 31,816,681.00
DEI Adjusted Shares Outstanding		 - - - - - 31,032,045.00 31,329,814.00 31,538,050.00 31,548,153.00 31,595,562.00 31,816,681.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - -0.10 0.10 0.42 0.12 0.08 0.24
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 8.24% 9.78% 7.81% 1.86% -5.13% -12.38% -2.30% 7.04% 5.05% 4.59% 4.17%
EBITDA Growth		 -33.11% 111.67% 65.94% 426.14% 100.56% -51.55% -20.31% 31.22% 10.04% 101.42% 37.76%
EBIT Growth		 -87.69% 403.44% 207.19% 384.86% 1,362.38% -118.22% -29.53% 52.82% 22.18% 654.74% 65.63%
NOPAT Growth		 -93.71% 487.55% -75.85% 356.96% 1,553.47% -114.27% -37.73% 87.95% 3.19% 669.58% 58.28%
Net Income Growth		 -187.37% 120.17% 1,594.95% 162.06% 306.67% -415.54% -50.95% 105.78% -27.37% 174.40% 141.59%
EPS Growth		 0.00% 117.65% 0.00% 0.00% 0.00% -433.33% -50.00% 105.00% -29.41% 170.00% 130.00%
Operating Cash Flow Growth		 1.19% -86.37% -67.52% 353.45% 59.72% 834.60% -305.36% -76.95% 25.26% -50.24% 260.93%
Free Cash Flow Firm Growth		 -62.07% -81.54% -99.52% 6,545.78% 215.35% 239.92% -1,229.67% -2,739.90% -226.09% -310.07% 259.21%
Invested Capital Growth		 -1.69% 0.07% 2.68% 2.18% -3.59% -4.52% 2.56% 7.31% 10.11% 10.68% 1.21%
Revenue Q/Q Growth		 1.52% 1.30% 2.89% -3.73% -5.45% -6.44% 14.72% 5.47% -7.21% -6.85% 14.26%
EBITDA Q/Q Growth		 129.81% 49.12% 45.31% 5.65% -12.40% -63.98% 139.00% 73.98% -26.54% -34.06% 63.47%
EBIT Q/Q Growth		 115.27% 676.64% 115.36% 11.52% -21.60% -109.68% 932.81% 141.82% -37.32% -56.05% 148.65%
NOPAT Q/Q Growth		 115.27% 891.92% 103.44% -16.62% -1.73% -108.56% 987.82% 151.68% -46.05% -52.75% 146.72%
Net Income Q/Q Growth		 75.77% 140.08% 534.76% 0.67% -19.31% -161.19% 198.67% 322.36% -71.52% -37.31% 220.41%
EPS Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% -158.82% 200.00% 310.00% -70.73% -41.67% 228.57%
Operating Cash Flow Q/Q Growth		 310.34% -96.24% 646.85% 329.08% 32.56% -78.00% -264.11% 148.16% 620.26% -91.26% 430.76%
Free Cash Flow Firm Q/Q Growth		 102,271.21% -30.38% -93.73% 48.68% 4,757.63% -24.96% -120.84% -247.44% -132.01% -25.02% 115.80%
Invested Capital Q/Q Growth		 -0.99% 1.59% 1.89% -0.30% -6.58% 0.60% 9.45% 4.32% -4.14% 1.12% 0.08%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 29.45% 27.70% 29.57% 29.87% 29.71% 25.30% 29.10% 29.76% 28.37% 26.46% 29.23%
EBITDA Margin		 5.13% 7.55% 10.67% 11.71% 10.85% 4.18% 8.70% 14.36% 11.36% 8.04% 11.51%
Operating Margin		 0.39% 3.01% 6.30% 6.49% 6.05% -0.63% 4.55% 10.42% 7.04% 2.77% 6.70%
EBIT Margin		 0.39% 3.01% 6.30% 7.30% 6.05% -0.63% 4.55% 10.42% 7.04% 3.32% 7.23%
Profit (Net Income) Margin		 -1.38% 0.54% 3.36% 3.51% 3.00% -1.96% 1.69% 6.75% 2.07% 1.39% 3.91%
Tax Burden Percent		 63.37% 89.40% 84.46% 71.02% 79.15% 73.06% 74.62% 77.66% 66.84% 86.18% 76.90%
Interest Burden Percent		 -552.87% 20.22% 63.10% 67.74% 62.56% 428.46% 49.70% 83.41% 44.03% 48.72% 70.36%
Effective Tax Rate		 0.00% 10.60% 15.54% 28.98% 20.85% 0.00% 25.38% 22.34% 33.16% 13.82% 23.10%
Return on Invested Capital (ROIC)		 0.53% 5.27% 10.55% 9.18% 9.80% -0.86% 6.26% 14.90% 9.26% 4.70% 9.82%
ROIC Less NNEP Spread (ROIC-NNEP)		 -1.22% 3.03% 8.41% 8.04% 7.89% -2.33% 4.46% 13.37% 6.09% 3.62% 8.32%
Return on Net Nonoperating Assets (RNNOA)		 -1.08% 2.80% 7.43% 7.20% 6.56% -2.02% 3.83% 10.61% 4.22% 2.59% 5.82%
Return on Equity (ROE)		 -0.55% 8.07% 17.98% 16.38% 16.36% -2.88% 10.09% 25.51% 13.48% 7.30% 15.64%
Cash Return on Invested Capital (CROIC)		 1.34% 0.97% -0.09% 4.51% 12.39% 11.89% 3.32% 0.66% -1.32% -0.67% 8.80%
Operating Return on Assets (OROA)		 0.52% 4.05% 8.51% 9.91% 8.35% -0.83% 5.71% 12.99% 9.25% 4.42% 9.25%
Return on Assets (ROA)		 -1.81% 0.73% 4.54% 4.77% 4.13% -2.59% 2.12% 8.41% 2.72% 1.86% 5.00%
Return on Common Equity (ROCE)		 -0.55% 8.05% 17.95% 16.36% 16.34% -2.87% 10.07% 25.46% 13.46% 7.28% 15.63%
Return on Equity Simple (ROE_SIMPLE)		 0.00% -6.13% -2.83% 5.50% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 0.50 4.96 10 8.42 8.28 -0.71 6.29 16 8.54 4.03 9.96
NOPAT Margin		 0.27% 2.69% 5.32% 4.61% 4.79% -0.44% 3.39% 8.09% 4.71% 2.39% 5.15%
Net Nonoperating Expense Percent (NNEP)		 1.75% 2.24% 2.14% 1.14% 1.91% 1.47% 1.80% 1.53% 3.17% 1.08% 1.50%
Return On Investment Capital (ROIC_SIMPLE)		 0.13% - - - 2.25% -0.19% 1.55% 3.68% 2.06% 0.97% 2.41%
Cost of Revenue to Revenue		 70.55% 72.30% 70.43% 70.13% 70.29% 74.70% 70.90% 70.24% 71.63% 73.54% 70.77%
SG&A Expenses to Revenue		 23.56% 22.33% 21.58% 21.28% 20.48% 22.06% 21.46% 17.12% 17.06% 21.88% 20.05%
R&D to Revenue		 0.16% 0.19% 0.12% 0.13% 0.18% 0.19% 0.15% 0.11% 0.14% 0.13% 0.13%
Operating Expenses to Revenue		 29.06% 24.69% 23.27% 23.38% 23.66% 25.93% 24.55% 19.34% 21.33% 23.69% 22.52%
Earnings before Interest and Taxes (EBIT)		 0.72 5.55 12 13 10 -1.01 8.43 20 13 5.61 14
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 9.34 14 20 21 19 6.75 16 28 21 14 22
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.17 1.56 1.33 1.72 1.41 1.65 1.16 1.36 1.70 2.00 2.32
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 59.35 33.63 39.29 28.21
Price to Revenue (P/Rev)		 0.31 0.41 0.35 0.48 0.39 0.46 0.36 0.43 0.55 0.64 0.75
Price to Earnings (P/E)		 0.00 0.00 0.00 31.28 14.82 22.22 21.97 17.12 23.70 20.84 20.61
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 3.20% 6.75% 4.50% 4.55% 5.84% 4.22% 4.80% 4.85%
Enterprise Value to Invested Capital (EV/IC)		 1.09 1.29 1.17 1.39 1.24 1.37 1.09 1.21 1.43 1.60 1.81
Enterprise Value to Revenue (EV/Rev)		 0.56 0.66 0.60 0.71 0.59 0.68 0.60 0.68 0.76 0.85 0.96
Enterprise Value to EBITDA (EV/EBITDA)		 12.28 12.01 9.24 8.23 5.82 7.34 6.84 6.96 8.07 8.32 8.71
Enterprise Value to EBIT (EV/EBIT)		 0.00 86.65 32.45 17.35 10.47 14.49 14.15 12.68 14.81 14.26 14.33
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 123.79 46.36 21.13 13.88 18.40 18.90 16.18 18.00 17.75 18.20
Enterprise Value to Operating Cash Flow (EV/OCF)		 14.78 20.71 32.46 12.88 8.63 8.74 10.16 18.31 16.66 20.69 13.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 80.28 132.83 0.00 31.22 9.79 11.24 33.29 188.24 0.00 0.00 20.68
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 1.00 1.06 1.03 0.92 0.85 0.86 0.88 0.89 0.76 0.78 0.72
Long-Term Debt to Equity		 0.95 1.01 0.98 0.87 0.79 0.80 0.82 0.83 0.70 0.72 0.66
Financial Leverage		 0.88 0.92 0.88 0.90 0.83 0.87 0.86 0.79 0.69 0.72 0.70
Leverage Ratio		 2.75 2.80 2.76 2.78 2.72 2.77 2.73 2.65 2.54 2.54 2.53
Compound Leverage Factor		 -15.19 0.57 1.74 1.88 1.70 11.85 1.36 2.21 1.12 1.24 1.78
Debt to Total Capital		 49.99% 51.42% 50.79% 48.00% 46.03% 46.34% 46.70% 47.03% 43.03% 43.70% 41.74%
Short-Term Debt to Total Capital		 2.34% 2.45% 2.55% 2.71% 3.15% 3.34% 3.22% 3.03% 3.11% 3.10% 3.11%
Long-Term Debt to Total Capital		 47.65% 48.97% 48.24% 45.29% 42.89% 43.01% 43.48% 44.00% 39.92% 40.61% 38.63%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.08% 0.08% 0.08% 0.09% 0.09% 0.09% 0.08% 0.10% 0.13% 0.09% 0.05%
Common Equity to Total Capital		 49.93% 48.50% 49.12% 51.92% 53.88% 53.57% 53.22% 52.87% 56.84% 56.21% 58.21%
Debt to EBITDA		 5.91 5.02 4.20 2.99 2.28 2.62 3.08 2.90 2.61 2.42 2.12
Net Debt to EBITDA		 5.37 4.59 3.84 2.67 2.04 2.34 2.75 2.50 2.20 2.09 1.85
Long-Term Debt to EBITDA		 5.64 4.78 3.99 2.82 2.13 2.43 2.87 2.72 2.42 2.25 1.96
Debt to NOPAT		 -142.86 51.74 21.06 7.68 5.44 6.56 8.51 6.75 5.83 5.16 4.44
Net Debt to NOPAT		 -129.62 47.34 19.25 6.86 4.86 5.85 7.61 5.82 4.91 4.45 3.87
Long-Term Debt to NOPAT		 -136.18 49.27 20.01 7.25 5.07 6.09 7.92 6.31 5.41 4.79 4.11
Altman Z-Score		 1.78 1.95 1.97 2.16 2.09 2.03 1.86 2.05 2.23 2.36 2.54
Noncontrolling Interest Sharing Ratio		 0.16% 0.16% 0.17% 0.16% 0.16% 0.17% 0.16% 0.18% 0.20% 0.16% 0.12%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.55 1.63 1.69 1.68 1.50 1.50 1.66 1.89 1.74 1.81 1.71
Quick Ratio		 1.29 1.37 1.46 1.43 1.27 1.25 1.40 1.61 1.47 1.51 1.44
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 6.76 4.70 0.30 0.44 21 16 -3.33 -12 -27 -34 5.31
Operating Cash Flow to CapEx		 266.14% 13.33% 105.35% 429.47% 866.24% 136.12% -186.14% 66.86% 668.71% 65.86% 342.74%
Free Cash Flow to Firm to Interest Expense		 1.45 1.06 0.07 0.10 5.43 4.81 -0.79 -3.42 -7.26 -11.67 1.28
Operating Cash Flow to Interest Expense		 3.44 0.14 1.02 4.50 6.54 1.70 -2.19 1.32 8.69 0.98 3.60
Operating Cash Flow Less CapEx to Interest Expense		 2.15 -0.89 0.05 3.45 5.79 0.45 -3.36 -0.65 7.39 -0.51 2.55
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 1.32 1.35 1.35 1.36 1.38 1.32 1.26 1.25 1.31 1.33 1.28
Accounts Receivable Turnover		 5.50 5.54 5.47 5.27 5.61 5.26 4.54 4.49 5.14 5.23 4.60
Inventory Turnover		 34.79 34.39 33.56 34.57 34.70 35.59 32.73 33.82 36.47 35.56 33.17
Fixed Asset Turnover		 8.90 9.11 9.19 9.26 9.02 8.70 8.53 8.54 8.32 8.22 7.94
Accounts Payable Turnover		 33.94 35.06 33.82 37.53 36.69 35.84 30.75 31.32 39.85 33.29 26.48
Days Sales Outstanding (DSO)		 66.36 65.94 66.67 69.26 65.06 69.35 80.48 81.36 71.07 69.76 79.40
Days Inventory Outstanding (DIO)		 10.49 10.61 10.87 10.56 10.52 10.26 11.15 10.79 10.01 10.26 11.00
Days Payable Outstanding (DPO)		 10.76 10.41 10.79 9.73 9.95 10.18 11.87 11.65 9.16 10.96 13.79
Cash Conversion Cycle (CCC)		 66.09 66.14 66.75 70.10 65.63 69.42 79.77 80.50 71.92 69.06 76.61
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 363 369 376 375 350 352 386 402 386 390 390
Invested Capital Turnover		 1.93 1.96 1.98 1.99 2.05 1.96 1.84 1.84 1.97 1.97 1.91
Increase / (Decrease) in Invested Capital		 -6.26 0.26 9.81 7.98 -13 -17 9.62 27 35 38 4.65
Enterprise Value (EV)		 395 475 440 522 433 482 421 485 550 624 706
Market Capitalization		 222 293 257 352 281 328 251 310 399 467 556
Book Value per Share		 $6.27 $6.11 $6.24 $6.62 $6.40 $6.40 $6.89 $7.21 $7.45 $7.38 $7.54
Tangible Book Value per Share		 ($1.36) ($1.35) ($1.08) ($0.72) ($0.73) ($0.71) ($0.28) $0.17 $0.38 $0.38 $0.62
Total Capital		 381 386 393 395 369 371 406 430 414 415 412
Total Debt		 190 198 200 190 170 172 189 202 178 181 172
Total Long-Term Debt		 181 189 190 179 158 160 176 189 165 168 159
Net Debt		 173 182 183 169 151 153 169 174 150 156 150
Capital Expenditures (CapEx)		 6.04 4.53 4.28 4.51 2.96 4.15 4.98 6.67 4.81 4.27 4.35
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 55 65 72 69 51 52 78 97 77 82 82
Debt-free Net Working Capital (DFNWC)		 73 82 89 89 69 71 98 125 105 107 104
Net Working Capital (NWC)		 64 72 79 78 58 58 85 112 92 94 91
Net Nonoperating Expense (NNE)		 3.01 3.96 3.73 2.01 3.10 2.46 3.16 2.63 4.78 1.68 2.40
Net Nonoperating Obligations (NNO)		 173 182 183 169 151 153 169 174 150 156 150
Total Depreciation and Amortization (D&A)		 8.63 8.38 8.29 8.06 8.28 7.76 7.71 7.69 7.85 7.98 8.27
Debt-free, Cash-free Net Working Capital to Revenue		 7.81% 8.96% 9.75% 9.27% 6.96% 7.39% 11.09% 13.55% 10.60% 11.20% 11.07%
Debt-free Net Working Capital to Revenue		 10.31% 11.30% 12.09% 12.03% 9.48% 10.02% 13.93% 17.44% 14.47% 14.62% 14.04%
Net Working Capital to Revenue		 9.05% 9.99% 10.73% 10.58% 7.89% 8.27% 12.07% 15.62% 12.69% 12.86% 12.31%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.03 $0.00 $0.00 $0.00 ($0.10) $0.10 $0.42 $0.12 $0.08 $0.24
Adjusted Weighted Average Basic Shares Outstanding		 30.33M 30.68M 30.98M 31.00M 30.93M 31.10M 31.44M 31.54M 31.41M 31.62M 31.83M
Adjusted Diluted Earnings per Share		 $0.00 $0.03 $0.00 $0.00 $0.00 ($0.10) $0.10 $0.41 $0.12 $0.07 $0.23
Adjusted Weighted Average Diluted Shares Outstanding		 30.33M 31.36M 31.29M 31.66M 31.61M 31.10M 31.69M 31.88M 32.06M 32.66M 32.92M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 30.63M 30.97M 30.98M 31.01M 31.03M 31.33M 31.54M 31.55M 31.60M 31.82M 31.85M
Normalized Net Operating Profit after Tax (NOPAT)		 4.88 6.36 11 9.33 9.30 1.83 8.88 17 12 4.33 11
Normalized NOPAT Margin		 2.68% 3.45% 5.58% 5.11% 5.39% 1.13% 4.79% 8.87% 6.67% 2.56% 5.95%
Pre Tax Income Margin		 -2.17% 0.61% 3.98% 4.94% 3.79% -2.68% 2.26% 8.69% 3.10% 1.62% 5.09%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.15 1.25 2.71 3.10 2.67 -0.30 1.99 6.03 3.45 1.95 3.37
NOPAT to Interest Expense		 0.11 1.12 2.29 1.96 2.11 -0.21 1.48 4.68 2.31 1.40 2.41
EBIT Less CapEx to Interest Expense		 -1.14 0.23 1.74 2.05 1.91 -1.55 0.81 4.05 2.15 0.47 2.32
NOPAT Less CapEx to Interest Expense		 -1.19 0.10 1.32 0.91 1.36 -1.46 0.31 2.71 1.01 -0.08 1.35
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Financials Breakdown Chart

Key Financial Trends

Mistras Group (NYSE: MG) shows a mixed picture: better profitability in recent quarters, but still a highly leveraged balance sheet and inconsistent cash generation. Over the last four years, the company has generally improved from losing money in early 2023 to posting solid profits in 2025 and Q1 2026. However, revenue has softened recently, operating cash flow has become more erratic, and debt remains a major drag on results.

Positive trends

  • Profitability improved materially versus 2023: Q1 2026 net income was $2.4 million, compared with a loss of $3.2 million in Q1 2025 and a loss of $5.0 million in Q1 2023.
  • Operating margin has recovered from a loss to positive territory: Q1 2026 operating income was $4.7 million versus an operating loss of $1.0 million in Q1 2025 and $1.8 million in Q1 2023.
  • Gross profit remains strong in absolute dollars, with Q1 2026 gross profit of $44.7 million on $169.0 million of revenue.
  • The company generated positive operating cash flow in Q1 2026 of $2.8 million after weak Q2 2025 cash generation and a loss in Q1 2025.
  • Cash and equivalents rose to $24.9 million at Q1 2026 from $18.5 million at Q1 2025, giving the company a better short-term liquidity cushion.
  • Share count has been relatively stable, helping limit dilution pressure on per-share results.

Neutral trends

  • Revenue in Q1 2026 was $169.0 million, up from Q1 2025 but below the stronger levels seen in late 2024 and mid-2025.
  • Accounts receivable remained large at $151.4 million in Q1 2026, which is normal for the business but means working capital management matters.
  • Capital spending continues at a moderate pace, with $6.0 million spent on property and equipment in Q1 2026.
  • Goodwill and intangible assets remain significant on the balance sheet, reflecting the company’s acquisition history.
  • The company still relies on a mix of debt issuance and repayment each quarter to manage financing needs.

Negative trends

  • Revenue has softened from recent peaks, falling from $195.5 million in Q3 2025 and $181.5 million in Q4 2025 to $169.0 million in Q1 2026.
  • Operating cash flow turned choppy in 2025: Q2 2025 posted negative operating cash flow of $9.3 million, and Q1 2025 generated only $5.6 million.
  • Debt remains elevated: total debt was about $181.4 million in Q1 2026, including $168.5 million of long-term debt.
  • Leverage is still high relative to equity, with total liabilities of $339.1 million versus total equity of $233.2 million.
  • Interest expense is still meaningful, at $2.9 million in Q1 2026 and $3.7 million in Q4 2025, which limits bottom-line growth.
  • Retained earnings remain low at just $9.2 million in Q1 2026, after years of weak profitability and losses.
  • The balance sheet carries a sizable accumulated other comprehensive loss of $33.0 million, indicating past equity erosion from non-operating items.

Bottom line: Mistras Group has made real progress on earnings, and the latest quarter shows a return to profitability with positive operating cash flow. But investors should not overlook the balance sheet risk: debt is still large, interest costs remain heavy, and revenue momentum has recently cooled. For retail investors, MG looks like a turnaround story that is improving operationally, but the financial foundation is not yet clean enough to call it low risk.

08/23/26 07:54 AM ETAI Generated. May Contain Errors.

Mistras Group Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Mistras Group's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Mistras Group's net income appears to be on an upward trend, with a most recent value of $16.92 million in 2025, rising from $15.99 million in 2015. The previous period was $18.97 million in 2024. See where experts think Mistras Group is headed by visiting Mistras Group's forecast page.

Mistras Group's total operating income in 2025 was $40.57 million, based on the following breakdown:
  • Total Gross Profit: $204.51 million
  • Total Operating Expenses: $163.94 million

Over the last 10 years, Mistras Group's total revenue changed from $711.25 million in 2015 to $724.02 million in 2025, a change of 1.8%.

Mistras Group's total liabilities were at $343.14 million at the end of 2025, a 5.9% increase from 2024, and a 51.4% increase since 2015.

In the past 10 years, Mistras Group's cash and equivalents has ranged from $10.56 million in 2015 to $28.01 million in 2025, and is currently $28.01 million as of their latest financial filing in 2025.

Over the last 10 years, Mistras Group's book value per share changed from 8.53 in 2015 to 7.45 in 2025, a change of -12.6%.


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Financial statements for NYSE:MG last updated on 8/10/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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