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Mistras Group, Inc. (MG) 10-Year Financial Performance & Capital Metrics

MG • • Industrial / General
IndustrialsSecurity ServicesSafety Equipment & ComplianceIndustrial Safety Equipment
AboutMistras Group, Inc. provides technology-enabled asset protection solutions worldwide. The company operates through three segments: Services, International, and Products and Systems. It offers non-destructive testing services; predictive maintenance assessments of fixed and rotating assets; inline inspection for pipelines; and develops enterprise inspection database management software and plant condition management software. The company also provides maintenance and light mechanical services, such as corrosion removal, mitigation and prevention, insulation installation and removal, electrical, heat tracing, industrial cleaning, pipefitting, and welding; engineering consulting services primarily for process equipment, technologies, and facilities; and utilizes scaffolding and rope access to access at-height and confined assets. In addition, it offers certified divers for subsea inspection and maintenance; unmanned aerial, land-based, and subsea systems for inspection applications; online condition-monitoring solutions; quality assurance and quality control solutions for new and existing metal and alloy components, materials, and composites. Further, the company designs and installs monitoring systems, as well as provides commissioning, training, reporting, technical support, and annual maintenance services; Web-based solutions; and custom-developed software. Additionally, it designs, manufactures, and sells acoustic emission sensors, instruments, and turnkey systems for monitoring and testing materials, pressure components, processes, and structures, as well as automated ultrasonic systems and scanners. The company serves oil and gas, commercial aerospace and defense, fossil and nuclear power, alternative and renewable energy, industrial, public infrastructure, petrochemical, transportation, and process industries, as well as research and engineering institutions. Mistras Group, Inc. was founded in 1978 and is headquartered in Princeton Junction, New Jersey.Show more
  • Revenue $730M +3.4%
  • EBITDA $73M +126.2%
  • Net Income $19M +208.6%
  • EPS (Diluted) 0.60 +203.4%
  • Gross Margin 29.21% +1.1%
  • EBITDA Margin 9.98% +118.7%
  • Operating Margin 5.46% +2122.3%
  • Net Margin 2.6% +205.0%
  • ROE 9.74% +208.6%
  • ROIC 7.73% +2224.1%
  • Debt/Equity 1.01 -11.3%
  • Interest Coverage 2.33 +2154.2%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Strong 5Y profit CAGR of 25.6%
  • ✓Strong Piotroski F-Score: 7/9
  • ✓Momentum leader: RS Rating 83 (top 17%)
  • ✓High quality earnings: Operating CF exceeds net income
  • ✓Trading near 52-week high
  • ✓Efficient asset utilization: 1.4x turnover

✗Weaknesses

  • ✗Weak 3Y average ROE of 1.3%

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y1.59%
5Y-0.51%
3Y2.52%
TTM-3.2%

Profit (Net Income) CAGR

10Y-1.71%
5Y25.62%
3Y69.98%
TTM61.04%

EPS CAGR

10Y-2.46%
5Y23.36%
3Y66.5%
TTM65.71%

ROCE

10Y Avg2.29%
5Y Avg-0.19%
3Y Avg4.58%
Latest9.64%

Peer Comparison

Industrial Safety Equipment
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
MSAMSA Safety Incorporated7.17B183.0325.391.15%15.02%21.49%3.38%0.49
MGMistras Group, Inc.451.77M14.3223.873.43%2.53%7.96%6.01%1.01

Profit & Loss

May 2016Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+711.25M684.76M700.97M742.35M748.59M592.57M677.13M687.37M705.47M729.64M
Revenue Growth %0.14%-0.04%0.02%0.06%0.01%-0.21%0.14%0.02%0.03%0.03%
Cost of Goods Sold+526.52M516.17M513.26M534.48M531.29M414.04M479.98M489.2M501.67M516.53M
COGS % of Revenue0.74%0.75%0.73%0.72%0.71%0.7%0.71%0.71%0.71%0.71%
Gross Profit+184.73M168.59M187.71M207.87M217.3M178.53M197.15M198.17M203.81M213.11M
Gross Margin %0.26%0.25%0.27%0.28%0.29%0.3%0.29%0.29%0.29%0.29%
Gross Profit Growth %0.07%-0.09%0.11%0.11%0.05%-0.18%0.1%0.01%0.03%0.05%
Operating Expenses+159.55M168.59M165.66M187.5M193.16M279.75M178.98M178.37M205.71M173.28M
OpEx % of Revenue0.22%0.25%0.24%0.25%0.26%0.47%0.26%0.26%0.29%0.24%
Selling, General & Admin143.98M156.1M151.82M165.7M169.47M157.16M161.33M166.4M166.75M156.39M
SG&A % of Revenue0.2%0.23%0.22%0.22%0.23%0.27%0.24%0.24%0.24%0.21%
Research & Development2.52M2.67M2.27M3.31M3.04M2.89M2.52M1.99M1.72M1.12M
R&D % of Revenue0%0%0%0%0%0%0%0%0%0%
Other Operating Expenses13.05M10.69M10.36M11.96M20.65M119.7M15.13M9.98M37.24M15.78M
Operating Income+30.35M25.55M4.16M22.22M24.14M-101.22M18.17M19.8M-1.9M39.83M
Operating Margin %0.04%0.04%0.01%0.03%0.03%-0.17%0.03%0.03%-0%0.05%
Operating Income Growth %-0.21%-0.16%-0.84%4.34%0.09%-5.19%1.18%0.09%-1.1%21.92%
EBITDA+43.4M58.46M35.54M56.63M62.67M-65.51M53.09M53.09M32.2M72.84M
EBITDA Margin %0.06%0.09%0.05%0.08%0.08%-0.11%0.08%0.08%0.05%0.1%
EBITDA Growth %-0.35%0.35%-0.39%0.59%0.11%-2.05%1.81%0%-0.39%1.26%
D&A (Non-Cash Add-back)13.05M32.91M31.38M34.41M38.53M35.7M34.92M33.29M34.1M33.01M
EBIT43.18M25.55M4.16M22.22M24.14M-101.22M18.17M19.8M-1.9M41.31M
Net Interest Income+-4.76M-3.08M-4.39M-7.95M-13.7M-12.96M-10.88M-10.51M-16.76M-17.07M
Interest Income0000000000
Interest Expense4.62M3.08M4.39M7.95M13.7M12.96M10.88M10.51M16.76M17.07M
Other Income/Expense-4.76M992.92K-4.39M-7.95M-13.7M-12.96M-10.88M-10.51M-16.76M-15.58M
Pretax Income+25.73M22.47M-226K14.27M10.44M-114.17M7.29M9.29M-18.66M24.24M
Pretax Margin %0.04%0.03%-0%0.02%0.01%-0.19%0.01%0.01%-0.03%0.03%
Income Tax+9.74M8.01M1.94M7.43M4.36M-14.71M3.4M2.72M-1.22M5.27M
Effective Tax Rate %0.62%0.64%9.62%0.48%0.58%0.87%0.53%0.7%0.94%0.78%
Net Income+16.08M14.46M-2.17M6.84M6.06M-99.46M3.86M6.5M-17.45M18.96M
Net Margin %0.02%0.02%-0%0.01%0.01%-0.17%0.01%0.01%-0.02%0.03%
Net Income Growth %-0.29%-0.1%-1.15%4.14%-0.11%-17.41%1.04%0.68%-3.69%2.09%
Net Income (Continuing)24.65M16.48M-2.17M6.84M6.08M-99.47M3.89M6.57M-17.45M18.97M
Discontinued Operations0-1.96M00000000
Minority Interest110K125K173K177K200K198K229K299K311K327K
EPS (Diluted)+0.540.48-0.080.230.21-3.410.130.21-0.580.60
EPS Growth %-0.3%-0.11%-1.16%4.01%-0.09%-17.24%1.04%0.62%-3.76%2.03%
EPS (Basic)0.560.50-0.080.240.21-3.410.130.22-0.580.61
Diluted Shares Outstanding29.59M30.11M28.42M29.43M29.05M29.15M30.13M30.23M30.33M31.61M
Basic Shares Outstanding28.61M28.96M27.19M28.41M28.74M29.15M29.57M29.9M30.33M30.93M
Dividend Payout Ratio----------

Balance Sheet

May 2016Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+186.43M187.95M195.01M202.79M179.16M162.59M161.34M167.88M180.36M172.47M
Cash & Short-Term Investments10.58M21.19M27.54M25.54M15.02M25.76M24.11M20.49M17.65M18.32M
Cash Only10.58M21.19M27.54M25.54M15.02M25.76M24.11M20.49M17.65M18.32M
Short-Term Investments0000000000
Accounts Receivable149.17M130.85M138.08M148.32M136M107.63M109.51M123.66M132.85M127.28M
Days Sales Outstanding76.5569.7571.972.9366.3166.2959.0365.6668.7363.67
Inventory9.68M9.92M10.5M13.05M13.41M13.13M12.69M13.56M15.28M14.48M
Days Inventory Outstanding6.717.017.478.919.2111.589.6510.1111.1210.24
Other Current Assets4.82M6.23M18.88M15.87M00010.18M14.58M12.39M
Total Non-Current Assets+293.64M294.73M359.43M491.25M540.72M420.73M400.86M367.02M354.42M350.57M
Property, Plant & Equipment76.43M78.68M87.14M93.89M98.61M92.68M86.58M77.56M80.97M80.89M
Fixed Asset Turnover9.31x8.70x8.04x7.91x7.59x6.39x7.82x8.86x8.71x9.02x
Goodwill167.65M169.22M203.44M279.26M282.41M206.01M205.44M199.63M187.35M181.44M
Intangible Assets46.76M43.49M63.74M111.39M109.54M68.64M59.38M49.02M43.99M39.71M
Long-Term Investments0000000000
Other Non-Current Assets1.98M2.34M3.51M4.77M48.38M51.33M47.28M40.03M39.78M42.26M
Total Assets+480.06M482.68M554.44M694.04M719.88M583.31M562.2M534.9M534.78M523.04M
Asset Turnover1.48x1.42x1.26x1.07x1.04x1.02x1.20x1.29x1.32x1.40x
Asset Growth %0.08%0.01%0.15%0.25%0.04%-0.19%-0.04%-0.05%-0%-0.02%
Total Current Liabilities+90.81M96.88M90.22M100.47M109.24M109.85M121.42M103.73M116.52M114.92M
Accounts Payable9.17M6.8M10.36M13.86M15.03M14.24M12.87M12.53M17.03M11.13M
Days Payables Outstanding6.364.817.379.4710.3312.559.799.3512.397.86
Short-Term Debt20.63M1.38M8.23M10.76M6.59M10.68M20.16M7.42M8.9M11.59M
Deferred Revenue (Current)1000K1000K1000K1000K1000K1000K1000K1000K1000K1000K
Other Current Liabilities13.12M49.08M27.05M24.3M9.6M7.77M8.34M7.12M6.84M7.36M
Current Ratio2.05x1.94x2.16x2.02x1.64x1.48x1.33x1.62x1.55x1.50x
Quick Ratio1.95x1.84x2.04x1.89x1.52x1.36x1.22x1.49x1.42x1.37x
Cash Conversion Cycle76.971.957272.3765.265.3258.8966.4367.4666.04
Total Non-Current Liabilities+124.91M109.51M193.42M322.49M324.62M276.25M239.87M232.43M227.75M209.22M
Long-Term Debt87.95M84.39M164.52M283.79M248.12M209.54M182.4M183.83M181.5M158.06M
Capital Lease Obligations10.24M9.68M8.74M9.07M13.04M11.12M9.75M10.04M11.26M15.16M
Deferred Tax Liabilities18.25M18.33M8.8M23.15M21.29M8.24M8.38M6.28M2.55M1.97M
Other Non-Current Liabilities8.48M26.9M11.36M6.48M42.16M47.36M39.33M32.27M32.44M34.03M
Total Liabilities215.72M206.39M283.65M422.96M433.86M386.09M361.28M336.15M344.27M324.14M
Total Debt+125.66M104.78M181.49M303.62M282.02M245.44M226.12M215.87M217.5M201.5M
Net Debt115.08M83.59M153.95M278.07M267M219.68M202.01M195.38M199.86M183.18M
Debt / Equity0.48x0.38x0.67x1.12x0.99x1.24x1.13x1.09x1.14x1.01x
Debt / EBITDA2.90x1.79x5.11x5.36x4.50x-4.26x4.07x6.76x2.77x
Net Debt / EBITDA2.65x1.43x4.33x4.91x4.26x-3.81x3.68x6.21x2.52x
Interest Coverage6.57x8.31x0.95x2.80x1.76x-7.81x1.67x1.88x-0.11x2.33x
Total Equity+264.34M276.29M270.79M271.07M286.02M197.22M200.91M198.75M190.5M198.9M
Equity Growth %0.09%0.05%-0.02%0%0.06%-0.31%0.02%-0.01%-0.04%0.04%
Book Value per Share8.939.179.539.219.856.776.676.576.286.29
Total Shareholders' Equity264.23M276.16M270.62M270.9M285.82M197.02M200.68M198.45M190.19M198.57M
Common Stock289K290K282K285K289K292K295K298K305K402K
Retained Earnings75.87M82.23M64.72M71.55M77.61M-21.85M-17.99M-11.49M-28.94M-9.98M
Treasury Stock0-9M00000000
Accumulated OCI-22.15M-20.1M-16.8M-27.56M-21.29M-16.06M-20.31M-33.39M-28.34M-42.68M
Minority Interest110K125K173K177K200K198K229K299K311K327K

Cash Flow

May 2016Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+50.62M63.21M55.24M41.66M59.11M67.8M42.26M26.41M26.75M50.13M
Operating CF Margin %0.07%0.09%0.08%0.06%0.08%0.11%0.06%0.04%0.04%0.07%
Operating CF Growth %0.37%0.25%-0.13%-0.25%0.42%0.15%-0.38%-0.38%0.01%0.87%
Net Income15.99M14.46M-2.17M6.84M6.08M-99.47M3.89M6.57M-17.45M18.97M
Depreciation & Amortization33.29M32.39M31.38M34.41M38.53M35.7M34.92M33.29M34.1M33.01M
Stock-Based Compensation6.51M7.32M6.57M6.11M5.77M5.85M5.42M5.33M5.71M5.07M
Deferred Taxes-1.75M-1.77M-4.85M1.86M-3.6M-13.41M87K-517K-5.28M-4.87M
Other Non-Cash Items-1.22M-97K16.63M-677K4.82M111.81M1.49M-268K13.8M-1.4M
Working Capital Changes-2.27M10.91M7.68M-6.88M7.51M27.31M-3.55M-18.01M-4.14M-659K
Change in Receivables3.98M-5M2.49M-10.35M8.3M27.31M-3.98M-17.23M-8.03M1.29M
Change in Inventory388K608K-117K-2.76M-302K84K278K-1.28M-1.87M100K
Change in Payables-6.28M-2.79M2.57M2.95M1.14M-1.02M-1.14M-93K4.18M-5.15M
Cash from Investing+-49.94M-22.41M-102.8M-155.45M-25.28M-14.97M-18.55M-12.24M-22.13M-21.37M
Capital Expenditures-15.97M-15.87M-20.57M-21.13M-22.05M-15.4M-19.28M-13.42M-20.85M-17.9M
CapEx % of Revenue0.02%0.02%0.03%0.03%0.03%0.03%0.03%0.02%0.03%0.02%
Acquisitions----------
Investments----------
Other Investing996K1.75M1.2M1.42M995K427K1.17M1.58M-1.28M-3.46M
Cash from Financing+481K-30.03M53.6M113.97M-44.14M-44.17M-23.25M-16.32M-7.71M-27.4M
Debt Issued (Net)----------
Equity Issued (Net)----------
Dividends Paid0000000000
Share Repurchases----------
Other Financing-2.38M43.05M-2.21M-2.83M-4.02M-4.08M-938K-405K-1.57M0
Net Change in Cash----------
Free Cash Flow+34.65M47.34M34.67M20.54M36.19M52.03M22.98M12.99M3.1M27.14M
FCF Margin %0.05%0.07%0.05%0.03%0.05%0.09%0.03%0.02%0%0.04%
FCF Growth %0.8%0.37%-0.27%-0.41%0.76%0.44%-0.56%-0.43%-0.76%7.76%
FCF per Share1.171.571.220.701.251.790.760.430.100.86
FCF Conversion (FCF/Net Income)3.15x4.37x-25.40x6.09x9.75x-0.68x10.95x4.06x-1.53x2.64x
Interest Paid4.15M3.17M4.26M7.75M14.16M12.46M10.08M017.08M15.57M
Taxes Paid10.69M12.36M3.06M10.98M6.1M543K4.71M06.9M6.41M

Key Ratios

Metric2015201620172018201920202021202220232024
Return on Equity (ROE)6.35%5.35%-0.8%2.52%2.18%-41.16%1.94%3.25%-8.97%9.74%
Return on Invested Capital (ROIC)6.42%5.18%0.8%3.42%3.28%-15.65%3.32%3.73%-0.36%7.73%
Gross Margin25.97%24.62%26.78%28%29.03%30.13%29.12%28.83%28.89%29.21%
Net Margin2.26%2.11%-0.31%0.92%0.81%-16.78%0.57%0.95%-2.47%2.6%
Debt / Equity0.48x0.38x0.67x1.12x0.99x1.24x1.13x1.09x1.14x1.01x
Interest Coverage6.57x8.31x0.95x2.80x1.76x-7.81x1.67x1.88x-0.11x2.33x
FCF Conversion3.15x4.37x-25.40x6.09x9.75x-0.68x10.95x4.06x-1.53x2.64x
Revenue Growth14.08%-3.72%2.37%5.9%0.84%-20.84%14.27%1.51%2.63%3.43%

Revenue by Segment

2015201620172018201920202021202220232024
Oil & Gas---418.11M436.02M338.76M366.92M387.75M416M418.92M
Oil & Gas Growth----4.28%-22.31%8.31%5.68%7.28%0.70%
Aerospace and Defense---107.71M93.85M70.27M68.39M80.55M77M87.02M
Aerospace and Defense Growth-----12.87%-25.12%-2.67%17.78%-4.41%13.01%
Industrials---89.9M89.21M66.43M67.72M63.98M70.58M71.67M
Industrials Growth-----0.76%-25.54%1.94%-5.51%10.32%1.53%
Other Process Industries---36.05M39.11M34.87M51.4M54.83M47.6M49.84M
Other Process Industries Growth----8.50%-10.84%47.40%6.67%-13.18%4.71%
Power Generation And Transmission------52.75M42.1M33.97M36.52M
Power Generation And Transmission Growth--------20.18%-19.31%7.49%
Infrastructure, Research and Engineering---25.56M33.1M33.79M32.29M27.22M29.11M33.16M
Infrastructure, Research and Engineering Growth----29.51%2.06%-4.43%-15.69%6.92%13.92%
Other Products and Services---20.91M13.97M8.56M18.06M15.04M16.78M16.94M
Other Products and Services Growth-----33.18%-38.71%110.93%-16.76%11.61%0.95%
Petrochemical------19.61M15.9M14.43M15.57M
Petrochemical Growth--------18.92%-9.21%7.89%
Power Generation and Transmission---44.11M43.31M39.89M----
Power Generation and Transmission Growth-----1.81%-7.91%----
Services540.22M553.28M543.57M-------
Services Growth-2.42%-1.76%-------
International146.95M143.03M144.26M-------
International Growth--2.67%0.87%-------
Products and Systems31.25M30.29M23.3M-------
Products and Systems Growth--3.08%-23.09%-------

Revenue by Geography

2015201620172018201920202021202220232024
UNITED STATES491.82M519.36M466.68M487.41M495.13M411.49M475.22M489.87M500.28M506.94M
UNITED STATES Growth-5.60%-10.14%4.44%1.58%-16.89%15.49%3.08%2.12%1.33%
Europe137.07M118.57M132.42M143.31M127.89M100.54M109.61M100.92M108.14M121.18M
Europe Growth--13.50%11.69%8.22%-10.76%-21.38%9.02%-7.93%7.15%12.06%
Other Americas68.63M67.81M86.87M98.25M111.74M72.83M83.64M89.25M86.94M90.01M
Other Americas Growth--1.19%28.11%13.10%13.73%-34.82%14.84%6.71%-2.59%3.54%
Asia Pacific13.73M13.45M15M13.38M13.83M7.71M8.65M7.33M10.12M11.5M
Asia Pacific Growth--2.11%11.54%-10.78%3.36%-44.28%12.28%-15.31%38.08%13.70%

Frequently Asked Questions

Valuation & Price

Mistras Group, Inc. (MG) has a price-to-earnings (P/E) ratio of 23.9x. This is roughly in line with market averages.

Growth & Financials

Mistras Group, Inc. (MG) reported $715.3M in revenue for fiscal year 2024. This represents a 111% increase from $338.6M in 2011.

Mistras Group, Inc. (MG) grew revenue by 3.4% over the past year. Growth has been modest.

Yes, Mistras Group, Inc. (MG) is profitable, generating $18.1M in net income for fiscal year 2024 (2.6% net margin).

Dividend & Returns

Mistras Group, Inc. (MG) has a return on equity (ROE) of 9.7%. This is below average, suggesting room for improvement.

Mistras Group, Inc. (MG) generated $2.1M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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