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Mistras Group Inc

MG Industrials Security & Protection Services

Mistras Group Inc’s revenue for fiscal 2025 (year ended December 2025) was $724.0 million, down 0.77% from fiscal 2024.

Revenue
+4.17%
EPS
+140.0%
Free cash flow
+156.4%
Total debt
−6.38%

Quarter to June 2026, against a year earlier

20.18 0.02 −0.10%
Market cap
$643.6M
P/E
23.5×
Fwd P/E
20.7×
Dividend yield
—
F-score
5/9
Altman Z
2.38
Beneish M
−2.46
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Sold, $m 0.06
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — 1 — — — — — — — — — —
Insider Ownership 44.24%

Capital & Financial Ratios $m

Size
Market Cap 643.58
Revenue ttm 739.17
Net income ttm 26.87
Free cash flow ttm 28.75
Net debt Q 170.21
Valuation
P/E 23.48
Forward P/E 20.70
Price / sales 0.87
Forward P/S Powerpack
Price / FCF 22.35
Price / book 2.68
Financial health
Current ratio Q 1.71 (at or above 1.5: strong)
Debt / equity Q 0.80
Interest coverage Q 3.13
Growth
Revenue growth Q +4.17% (above 0%: growing)
Operating income growth Q +53.61% (above 0%: growing)
EPS, this year +15.34% (at or above 15%: strong)
EPS, next year A +23.15% (at or above 15%: strong)
Revenue, next year A +3.19%
EPS, past 5 yrs —
EPS, next 5 yrs A +18.38% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 1.1×, against a ten-year median of 0.8×; over the ten years it ranged from 0.4× in 2022 to 1.2× in 2016.
P/E against its own 10 years 16.10%
10-year low 10-year high
P/S against its own 10 years 83.69%
10-year low 10-year high
P/B against its own 10 years 97.28%
10-year low 10-year high
EV/Sales against its own 10 years 93.13%
10-year low 10-year high
EV/FCF against its own 10 years 75.38%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 18 18 28 22
Receivables 133 127 155 162
Inventory 15 14 14 17
Other — — — —
180 172 216 219
2023 2024 2025 Q'26
Payables 17 11 15 22
ST’ Debt 9 12 13 13
Other — — — —
117 115 124 128

Compound Annual Growth %

10y 5y 3y
Sales 0.07% 4.09% 1.75%
Cash Flow (7.00%) (13.42%) 7.69%
Earnings (3.74%) 0.00% 37.34%
Book Value (1.58%) 3.62% 5.84%

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate 0.25 Actual 0.28

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY25 0.26 0.46 Beat by 0.20
Q4 FY25 0.20 0.25 Beat by 0.05
Q1 FY26 0.00 0.08 Beat by 0.08
Q2 FY26 0.25 0.28 Beat by 0.03
Q3 FY26 0.38 — Reports 3 November 2026

EPS $

Mar Jun Sep Dec Year
’26 0.07 0.23 — — —
’25 (0.10) 0.10 0.41 0.12 0.53
’24 0.03 0.20 0.20 0.17 0.60
’23 (0.17) 0.01 (0.34) (0.08) (0.58)
’22 (0.18) 0.15 0.14 0.09 0.21
’21 (0.18) 0.20 0.11 0.00 0.13
’20 (3.40) (0.09) 0.05 0.01 (3.41)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 169 193 — — —
’25 162 185 196 181 724
’24 184 190 183 173 730
’23 168 176 179 182 705
’22 162 179 178 168 687
’21 154 178 175 171 677
’20 159 124 148 161 593
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 3 15 — — —
’25 6 (9) 4 32 33
’24 1 5 19 26 50
’23 4 14 (8) 16 27
’22 (5) 13 3 16 26
’21 3 15 4 20 42
’20 6 29 7 26 68
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (3) 9 — — —
’25 0 (15) (3) 26 8
’24 (5) (1) 13 21 29
’23 0 9 (13) 9 5
’22 (8) 9 0 13 14
’21 (1) 9 (1) 17 24
’20 2 26 4 22 53
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 693 701 742 749 593 677 687 705 730 724 739 +0.5% 747 787 822 +4.3%
Gross margin, % 27.38 26.78 28.00 29.03 30.13 29.12 28.83 26.12 26.34 28.25 28.53 +0.9 pt
EBT 27 0 14 10 (114) 7 9 (19) 24 22 35 (1.8%)
EBT margin, % 3.83 (0.03) 1.92 1.39 (19.27) 1.08 1.35 (2.65) 3.32 3.10 4.76 (0.7) pt
Net income 0 (2) 7 6 (99) 4 7 (17) 19 17 27 n/m
Per share, $
Per share, $ Revenue 23.90 24.66 26.13 26.05 20.33 22.90 22.99 23.26 23.59 23.05 23.22 (0.4%)
Earnings 0.54 (0.08) 0.24 0.21 (3.41) 0.13 0.22 (0.58) 0.61 0.54 0.86 0.0%
Cash flow 1.04 1.96 1.47 2.06 2.33 1.43 0.88 0.88 1.62 1.05 1.71 +0.1%
Capex 0.00 (0.68) (0.69) (0.73) (0.51) (0.61) (0.41) (0.73) (0.69) (0.80) (0.80) n/m
Free cash flow 1.04 1.28 0.77 1.32 1.81 0.82 0.47 0.15 0.93 0.25 0.90 (14.7%)
Book value 9.34 9.53 9.54 9.95 6.77 6.79 6.65 6.28 6.43 7.50 7.55 (2.4%)
Shares, m 29 28 28 29 29 30 30 30 31 31 32 +0.9%
Valuation, ×
Valuation, × P/E 31.77 0.00 62.52 67.95 0.00 57.15 23.24 0.00 14.61 23.43 23.48 28.1
P/S 1.08 0.96 0.55 0.55 0.38 0.32 0.21 0.31 0.38 0.55 0.87 0.5
P/B 2.76 2.48 1.51 1.43 1.15 1.09 0.73 1.16 1.41 1.69 2.68 1.5
EV/Sales 1.19 1.17 0.92 0.89 0.73 0.60 0.48 0.57 0.61 0.78 1.10 0.8
EV/FCF (54.76) 22.50 31.09 17.42 8.17 16.89 23.06 87.72 15.53 71.85 28.27 23.9
Cash, $m
Cash, $m Operating cash flow 30 56 42 59 68 42 26 27 50 33 54 +1.0%
Capex (10) (19) (20) (21) (15) (18) (12) (22) (21) (25) (26) +11.0%
Free cash flow 30 36 22 38 53 24 14 5 29 8 29 (13.9%)
Balance, $m
Balance, $m Working capital 105 105 102 70 53 40 64 64 58 92 91 (1.5%)
Net debt 78 148 274 253 206 188 181 184 166 167 170 +8.9%
Shareholders’ equity 271 271 271 286 197 201 199 191 199 236 240 (1.5%)
Returns, %
Returns, % ROA 3.45 (0.42) 1.10 0.86 (15.26) 0.67 1.18 (3.26) 3.58 3.06 4.67 (0.4) pt
ROIC 0.00 0.62 2.55 2.80 (15.71) 2.92 3.26 (0.32) 6.81 6.29 7.73 +6.3 pt
ROE 6.00 (0.80) 2.52 2.18 (41.16) 1.94 3.25 (8.97) 9.74 7.75 11.82 +1.8 pt
People
People Employees 5,700 6,000 5,700 5,500 5,400 5,400 5,400 4,800 4,800 4,800 — (1.9%)
Revenue/emp, $m 0.00 0.12 0.13 0.14 0.11 0.13 0.13 0.15 0.15 0.15 — n/m
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Mistras Group Inc vs peers in Security & Protection Services (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
BCO Brink's Company (The) $4.2B 23.7× 16.6× +7.06% (above 0%: growing) +3.88% (above 0%: growing) −97.49% (below 0%: shrinking) 26.29% 9.57% Compare
BRC Brady Corporation $3.9B 19.0× 13.7× +9.98% (above 0%: growing) −7.62% (below 0%: shrinking) +22.90% (above 0%: growing) 52.90% 13.76% Compare
GEO Geo Group Inc (The) $3.8B 13.3× 21.7× +15.08% (above 0%: growing) +71.43% (above 0%: growing) +2,422.02% (above 0%: growing) 27.51% 13.89% Compare
CXW CoreCivic, Inc. $3.1B 24.3× 2.0× +27.27% (above 0%: growing) +8.57% (above 0%: growing) +55.25% (above 0%: growing) 21.74% 10.07% Compare
NSSC NAPCO Security Technologies, Inc. $1.4B 32.5× 24.1× +10.02% (above 0%: growing) +51.52% (above 0%: growing) +19.89% (above 0%: growing) 61.31% 33.02% Compare
EVLV Evolv Technologies Holdings, Inc. $878.5M — (loss-making) — (loss-making) +34.44% (above 0%: growing) n/m +203.88% (above 0%: growing) 50.17% (24.11%) Compare
MG Mistras Group Inc $643.6M 23.5× 20.7× +4.17% (above 0%: growing) +140.00% (above 0%: growing) +156.37% (above 0%: growing) 29.23% 6.70%
CIX CompX International Inc. $440.2M 20.1× 12.8× +8.05% (above 0%: growing) +34.09% (above 0%: growing) +79.73% (above 0%: growing) 35.62% 20.45% Compare
NL NLI Holdings, Inc. $341.8M — (loss-making) 9.8× +8.05% (above 0%: growing) +1,700.00% (above 0%: growing) +65.68% (above 0%: growing) 35.62% 14.06% Compare
Median of peers $2.3B 21.9× 13.7× +10.00% +34.09% +60.47% 35.62% 13.82%

All 22 Security & Protection Services stocks →

Pay and ownership Proxy statement filed 7 April 2026

Ownership

Directors and executive officers, together 7.10%
Stephanie Foglia 21.70%
Aspasia Vahaviolos 19.30%
2025 Irrevocable Two-Year Grantor Retained Annuity Trust of Aspasia F. Vahaviolos 16.60%
Mill Road Capital III, L.P. and related parties 5.70%
Dimensional Fund Advisors LP 5.20%
Kristy Kyriakopoulos 5.10%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Mistras Group Inc (MG) Latest News

28 Oct

Impact 4 · · GlobeNewswire

19 Oct

Impact 3 · · GlobeNewswire

13 Oct

Impact 3 · · Zacks
Impact 3 · · Zacks

24 Sep

Impact 4 · · GlobeNewswire

18 Sep

Impact 5 ·
Impact 5 ·

2 Sep

Impact 4 ·

27 Aug

Impact 4 ·

18 Aug

Impact 4 ·

17 Aug

Impact 3 · · The Motley Fool transcript

11 Aug

Impact 3 · · MarketBeat
Impact 3 · · Moby

10 Aug

Impact 3 ·

23 Jul

Impact 3 ·

15 Jul

Impact 4 ·

25 Jun

Impact 3 · · GlobeNewswire

15 May

Impact 4 · · Simply Wall St.

11 May

Impact 4 · · MarketBeat
Impact 4 · · Simply Wall St.

7 May

Impact 4 · · The Motley Fool transcript

6 May

Impact 4 · · Moby
Impact 3 · · Zacks

5 May

Impact 4 · · Zacks
Impact 4 · · GlobeNewswire

20 Apr

Impact 3 ·
Impact 3 ·

14 Apr

Impact 3 · · PR Newswire

3 Apr

Impact 4 · · Zacks

13 Mar

Impact 4 · · GuruFocus.com
stockrow.com/MG · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com