NYSE : MG
Mistras Group, Inc. — Financial statements
Industrials · Security & Protection Services · United States
Last price 20.18 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 642.73M
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Financial statements
Mistras Group, Inc. (MG) reported revenue of 739.17M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 739.17M | 724.02M | 729.64M | 705.47M | 687.37M | 677.13M |
| Cost of Revenue | 505.90M | 497.14M | 513.86M | 497.18M | 466.57M | 457.01M |
| Gross Profit | 233.27M | 226.88M | 215.78M | 208.30M | 220.81M | 220.12M |
| Selling, General & Admin | 140.14M | 139.88M | 135.45M | 147.24M | 166.40M | 161.33M |
| Research & Development | 924.00K | 1.03M | 1.12M | 1.72M | 1.99M | 2.52M |
| Other Operating Expenses | 1.74M | 1.74M | 1.66M | |||
| Operating Expenses | 174.60M | 173.66M | 171.24M | 183.06M | 201.69M | 198.77M |
| Operating Income | 58.67M | 53.23M | 44.53M | 25.23M | 19.12M | 21.34M |
| Interest Expense | -14.10M | -14.64M | -17.07M | -16.76M | -10.51M | -10.88M |
| Other Non Operating Income (Expenses) | -1.51M | -3.45M | 1.49M | |||
| EBT Excluding Unusual Items | 43.07M | 35.13M | 28.95M | 8.47M | 8.61M | 10.46M |
| Merger & Restructuring Charges | -9.62M | -12.65M | -5.52M | -12.28M | -271.00K | -1.13M |
| Impairment of Goodwill | -13.80M | |||||
| Legal Settlements | 808.00K | -1.06M | 994.00K | -2.04M | ||
| Other Unusual Items | 1.73M | -42.00K | ||||
| Pretax Income | 35.18M | 22.48M | 24.24M | -18.66M | 9.29M | 7.29M |
| Income Tax Expense | 8.31M | 5.56M | 5.27M | -1.22M | 2.72M | 3.40M |
| Earnings From Continuing Operations | 26.87M | 16.92M | 18.97M | -17.45M | 6.57M | 3.89M |
| Minority Interest in Earnings | 103.00K | -84.00K | -12.00K | -8.00K | -75.00K | -33.00K |
| Net Income | 26.98M | 16.84M | 18.96M | -17.45M | 6.50M | 3.86M |
| Net Income to Common | 26.98M | 16.84M | 18.96M | -17.45M | 6.50M | 3.86M |
| Shares Outstanding (Basic) | 31.64M | 31.41M | 30.93M | 30.33M | 29.90M | 29.57M |
| Shares Outstanding (Diluted) | 32.84M | 32.06M | 31.61M | 30.33M | 30.23M | 30.13M |
| EPS (Basic) | 0.85 | 0.54 | 0.61 | -0.58 | 0.22 | 0.13 |
| EPS (Diluted) | 0.82 | 0.53 | 0.60 | -0.58 | 0.21 | 0.13 |
| Free Cash Flow | 28.92M | 8.31M | 32.23M | 5.89M | 13.81M | 24.10M |
| Free Cash Flow Per Share | 0.88 | 0.26 | 1.02 | 0.19 | 0.46 | 0.80 |
| Gross Margin | 31.56% | 31.34% | 29.57% | 29.53% | 32.12% | 32.51% |
| Operating Margin | 7.94% | 7.35% | 6.10% | 3.58% | 2.78% | 3.15% |
| Profit Margin | 3.65% | 2.33% | 2.60% | -2.47% | 0.95% | 0.57% |
| Free Cash Flow Margin | 3.91% | 1.15% | 4.42% | 0.83% | 2.01% | 3.56% |
| EBITDA | 86.86M | 80.63M | 74.64M | 56.43M | 49.51M | 53.27M |
| EBITDA Margin | 11.75% | 11.14% | 10.23% | 8.00% | 7.20% | 7.87% |
| D&A For EBITDA | 28.19M | 27.41M | 30.11M | 31.20M | 30.39M | 31.92M |
| EBIT | 58.67M | 53.23M | 44.53M | 25.23M | 19.12M | 21.34M |
| EBIT Margin | 7.94% | 7.35% | 6.10% | 3.58% | 2.78% | 3.15% |
| Effective Tax Rate | 23.62% | 24.72% | 21.75% | 29.27% | 46.58% | |
| Advertising Expenses | 400.00K | 1.00M | 1.40M | 2.00M | 1.00M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 21.99M | 28.01M | 18.32M | 17.65M | 20.49M | 24.11M |
| Cash & Short-Term Investments | 21.99M | 28.01M | 18.32M | 17.65M | 20.49M | 24.11M |
| Receivables | 161.76M | 154.67M | 127.28M | 132.85M | 123.66M | 109.51M |
| Inventory | 16.73M | 14.00M | 14.48M | 15.28M | 13.56M | 12.69M |
| Prepaid Expenses | 18.02M | 19.51M | 12.39M | 14.58M | 10.18M | 15.03M |
| Total Current Assets | 218.50M | 216.19M | 172.47M | 180.36M | 167.88M | 161.34M |
| Property, Plant & Equipment | 100.24M | 132.10M | 121.29M | 118.48M | 114.51M | 129.03M |
| Goodwill | 182.20M | 184.83M | 181.44M | 187.35M | 199.63M | 205.44M |
| Other Intangible Assets | 38.06M | 38.41M | 39.71M | 43.99M | 49.02M | 59.38M |
| Long-Term Deferred Tax Assets | 5.64M | 5.38M | 6.27M | 2.32M | 779.00K | 2.17M |
| Long-Term Deferred Charges | 400.00K | 500.00K | ||||
| Other Long-Term Assets | 39.08M | 1.38M | 1.86M | 2.27M | 3.09M | 4.83M |
| Total Assets | 584.12M | 578.78M | 523.04M | 534.78M | 534.90M | 562.20M |
| Accounts Payable | 21.67M | 14.94M | 11.13M | 17.03M | 12.53M | 12.87M |
| Accrued Expenses | 62.54M | 68.05M | 65.76M | 66.51M | 59.01M | 65.79M |
| Current Portion of Long-Term Debt | 12.83M | 12.85M | 11.59M | 8.90M | 7.42M | 20.16M |
| Current Portion of Leases | 18.40M | 17.91M | 16.69M | 15.85M | 14.58M | 13.80M |
| Current Income Taxes Payable | 424.00K | 1.47M | 1.66M | 1.10M | 1.73M | 755.00K |
| Current Unearned Revenue | 11.65M | 9.10M | 8.10M | 7.14M | 7.52M | 6.20M |
| Other Current Liabilities | 937.00K | 1.83M | ||||
| Total Current Liabilities | 127.52M | 124.31M | 114.92M | 116.52M | 103.73M | 121.42M |
| Long-Term Debt | 159.26M | 165.14M | 158.06M | 181.50M | 183.83M | 182.40M |
| Long-Term Leases | 54.70M | 46.72M | 45.44M | 39.48M | 38.11M | 43.78M |
| Long-Term Deferred Tax Liabilities | 2.47M | 1.26M | 1.97M | 2.55M | 6.28M | 8.38M |
| Other Long-Term Liabilities | 5.70M | 3.75M | 4.22M | 4.21M | 5.30M | |
| Total Liabilities | 343.95M | 343.14M | 324.14M | 344.27M | 336.15M | 361.28M |
| Common Stock | 690.00K | 499.00K | 402.00K | 305.00K | 298.00K | 295.00K |
| Additional Paid-In Capital | 258.84M | 256.86M | 250.83M | 247.16M | 243.03M | 238.69M |
| Retained Earnings | 16.82M | 6.85M | -9.98M | -28.94M | -11.49M | -17.99M |
| Comprehensive Income & Other | -36.39M | -29.11M | -42.68M | -28.34M | -33.39M | -20.31M |
| Total Common Equity | 239.96M | 235.10M | 198.57M | 190.19M | 198.45M | 200.68M |
| Minority Interest | 213.00K | 541.00K | 327.00K | 311.00K | 299.00K | 229.00K |
| Shareholders' Equity | 240.18M | 235.65M | 198.90M | 190.50M | 198.75M | 200.91M |
| Total Liabilities & Equity | 584.12M | 578.78M | 523.04M | 534.78M | 534.90M | 562.20M |
| Total Debt | 245.19M | 242.62M | 231.78M | 245.72M | 243.94M | 260.15M |
| Net Cash (Debt) | -223.21M | -214.61M | -213.46M | -228.08M | -223.45M | -236.04M |
| Net Cash Per Share | -6.80 | -6.69 | -6.75 | -7.52 | -7.39 | -7.83 |
| Filing Date Shares Outstanding | 31.85M | 31.60M | 31.03M | 30.63M | 29.93M | 29.55M |
| Total Common Shares Outstanding | 31.85M | 31.57M | 31.01M | 30.60M | 29.90M | 29.55M |
| Working Capital | 90.98M | 91.88M | 57.55M | 63.83M | 64.15M | 39.92M |
| Book Value Per Share | 7.53 | 7.45 | 6.40 | 6.22 | 6.64 | 6.79 |
| Tangible Book Value | 19.70M | 11.87M | -22.58M | -41.16M | -50.20M | -64.14M |
| Tangible Book Value Per Share | 0.62 | 0.38 | -0.73 | -1.35 | -1.68 | -2.17 |
| Land | 2.46M | 2.47M | 2.43M | 2.45M | 2.53M | 2.76M |
| Buildings | 22.69M | 22.38M | 27.97M | 26.66M | 24.80M | 24.79M |
| Machinery | 338.22M | 325.34M | 291.68M | 290.64M | 269.34M | 266.79M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 26.98M | 16.84M | 18.96M | -17.45M | 6.50M | 3.86M |
| Depreciation & Amortization | 28.19M | 27.41M | 30.11M | 31.20M | 30.39M | 31.92M |
| Other Amortization | 3.60M | 3.60M | 2.90M | 2.90M | 2.90M | 3.00M |
| Asset Writedown & Restructuring Costs | 13.80M | |||||
| Stock-Based Compensation | 6.99M | 7.79M | 5.07M | 5.71M | 5.33M | 5.42M |
| Provision & Write-off of Bad Debts | 1.32M | 1.75M | 846.00K | 346.00K | 42.00K | |
| Other Operating Activities | -4.19M | 1.20M | -7.10M | -4.68M | -219.00K | 1.60M |
| Change in Accounts Receivable | -4.99M | -24.95M | 1.29M | -8.03M | -17.23M | -3.98M |
| Change in Inventory | -1.89M | 772.00K | 100.00K | -1.87M | -1.28M | 278.00K |
| Change in Accounts Payable | 350.00K | 3.28M | -5.15M | 4.18M | -93.00K | -1.14M |
| Change in Income Taxes | -978.00K | -326.00K | 655.00K | -580.00K | 1.08M | -1.92M |
| Change in Other Net Operating Assets | -1.06M | -4.39M | 2.45M | 1.22M | -1.03M | 3.21M |
| Operating Cash Flow | 54.32M | 32.98M | 50.13M | 26.75M | 26.41M | 42.26M |
| Capital Expenditures | -25.40M | -24.67M | -17.90M | -20.85M | -12.59M | -18.16M |
| Sale of Property, Plant & Equipment | 5.31M | 4.07M | 1.62M | 1.52M | 1.18M | 1.17M |
| Cash Acquisitions | -440.00K | |||||
| Sale (Purchase) of Intangibles | -5.47M | -4.52M | -5.08M | -2.79M | -825.00K | -1.11M |
| Investing Cash Flow | -25.57M | -25.12M | -21.37M | -22.13M | -12.24M | -18.55M |
| Long-Term Debt Issued | 81.50M | 72.00M | 83.61M | 317.50M | 89.00M | |
| Total Debt Issued | 62.20M | 81.50M | 72.00M | 83.61M | 317.50M | 89.00M |
| Long-Term Debt Repaid | -80.44M | -98.09M | -89.75M | -332.30M | -109.39M | |
| Total Debt Repaid | -87.00M | -80.44M | -98.09M | -89.75M | -332.30M | -109.39M |
| Net Debt Issued (Repaid) | -24.80M | 1.06M | -26.09M | -6.13M | -14.79M | -20.39M |
| Repurchase of Common Stock | -1.80M | -1.66M | -1.31M | -1.57M | -977.00K | -1.37M |
| Other Financing Activities | -141.00K | -552.00K | -1.49M | |||
| Financing Cash Flow | -26.74M | -595.00K | -27.40M | -7.71M | -16.32M | -23.25M |
| Foreign Exchange Rate Adjustments | 22.00K | 2.43M | -694.00K | 249.00K | -1.47M | -2.12M |
| Net Cash Flow | 2.03M | 9.69M | 671.00K | -2.84M | -3.62M | -1.65M |
| Free Cash Flow | 28.92M | 8.31M | 32.23M | 5.89M | 13.81M | 24.10M |
| Free Cash Flow Margin | 3.91% | 1.15% | 4.42% | 0.83% | 2.01% | 3.56% |
| Free Cash Flow Per Share | 0.88 | 0.26 | 1.02 | 0.19 | 0.46 | 0.80 |
| Levered Free Cash Flow | 30.27M | 6.59M | 35.68M | 16.19M | 14.71M | 29.60M |
| Unlevered Free Cash Flow | 39.09M | 15.75M | 46.35M | 26.67M | 21.27M | 36.40M |
| Cash Income Tax Paid | 5.50M | 9.33M | 6.41M | 6.90M | -3.07M | 4.71M |
| Change in Working Capital | -8.56M | -25.61M | -659.00K | -5.08M | -18.55M | -3.55M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 641.93M | 399.08M | 280.95M | 222.18M | 147.38M | 218.87M |
| Enterprise Value | 865.14M | 641.96M | 515.21M | 465.37M | 383.32M | 470.03M |
| Last Close Price | 20.18 | 12.65 | 9.06 | 7.32 | 4.93 | 7.43 |
| PE Ratio | 24.50 | 23.70 | 14.82 | 22.68 | 56.70 | |
| Forward PE | 17.53 | 12.84 | 11.54 | 10.51 | 10.13 | 13.93 |
| PS Ratio | 0.87 | 0.55 | 0.39 | 0.32 | 0.21 | 0.32 |
| PB Ratio | 2.68 | 1.69 | 1.41 | 1.17 | 0.74 | 1.09 |
| P/TBV Ratio | 32.59 | 33.63 | ||||
| P/FCF Ratio | 22.21 | 48.04 | 8.72 | 37.70 | 10.67 | 9.08 |
| P/OCF Ratio | 11.82 | 12.10 | 5.61 | 8.31 | 5.58 | 5.18 |
| PEG Ratio | 1.10 | 0.80 | 0.72 | 0.42 | 0.41 | 0.56 |
| EV/Sales Ratio | 1.17 | 0.89 | 0.71 | 0.66 | 0.56 | 0.69 |
| EV/EBITDA Ratio | 9.96 | 7.96 | 6.90 | 8.25 | 7.74 | 8.82 |
| EV/EBIT Ratio | 14.75 | 12.06 | 11.57 | 18.45 | 20.05 | 22.02 |
| EV/FCF Ratio | 29.92 | 77.28 | 15.99 | 78.96 | 27.75 | 19.50 |
| Debt / Equity Ratio | 1.02 | 1.03 | 1.17 | 1.29 | 1.23 | 1.29 |
| Debt / EBITDA Ratio | 2.38 | 2.51 | 2.56 | 3.42 | 3.78 | 3.78 |
| Debt / FCF Ratio | 8.48 | 29.21 | 7.19 | 41.69 | 17.66 | 10.79 |
| Net Debt / Equity Ratio | 0.93 | 0.91 | 1.07 | 1.20 | 1.12 | 1.18 |
| Net Debt / EBITDA Ratio | 2.57 | 2.66 | 2.86 | 4.04 | 4.51 | 4.43 |
| Net Debt / FCF Ratio | 7.72 | 25.84 | 6.62 | 38.70 | 16.18 | 9.79 |
| Asset Turnover | 1.28 | 1.31 | 1.38 | 1.32 | 1.25 | 1.18 |
| Inventory Turnover | 31.77 | 34.90 | 34.52 | 34.48 | 35.56 | 35.40 |
| Quick Ratio | 1.44 | 1.47 | 1.27 | 1.29 | 1.39 | 1.10 |
| Current Ratio | 1.71 | 1.74 | 1.50 | 1.55 | 1.62 | 1.33 |
| Return on Equity (ROE) | 11.78% | 7.79% | 9.74% | -8.96% | 3.29% | 1.96% |
| Return on Assets (ROA) | 6.35% | 6.04% | 5.26% | 2.95% | 2.18% | 2.33% |
| Return on Invested Capital (ROIC) | 9.71% | 9.29% | 8.39% | 6.00% | 3.15% | 2.56% |
| Return on Capital Employed (ROCE) | 12.80% | 11.70% | 10.90% | 6.00% | 4.40% | 4.80% |
| Earnings Yield | 4.08% | 4.22% | 6.75% | -7.85% | 4.41% | 1.76% |
| FCF Yield | 4.50% | 2.08% | 11.47% | 2.65% | 9.37% | 11.01% |
| Buyback Yield / Dilution | -4.03% | -1.42% | -4.21% | -0.33% | -0.33% | -3.37% |