15 years of revenue, profit, cash flow and balance-sheet history through FY2025,
from SEC filings — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has grown 4.1% per year over the past 5 years.
Operating margin has expanded, at 5.6% in the latest year.
Free cash flow has declined 30.8% per year over the past 5 years.
Financial health
Total debt ($178M) exceeds cash ($28M); net debt is $150M.
Total debt has grown slower than revenue (-4.2% vs 4.1% per year).
Operating income covered interest expense 2.8× in the latest year.
Total debt is 2.5× EBITDA.
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Return on equity & assets (ROE / ROA)
ROEROA
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
ROE
ROA
FCF
Total debt
Cash
2025
$724M
$17M
28.2%
5.6%
7.2%
2.9%
$8M
$178M
$28M
2024
$730M
$19M
26.3%
5.5%
9.5%
3.6%
$32M
$170M
$18M
2023
$705M
-$17M
26.1%
-0.3%
-9.2%
-3.3%
$6M
$190M
$18M
2022
$687M
$6M
28.8%
2.9%
3.3%
1.2%
$14M
$191M
$20M
2021
$677M
$4M
29.1%
2.7%
1.9%
0.7%
$24M
$203M
$24M
2020
$593M
-$99M
30.1%
-17.1%
-50.5%
-17.1%
$52M
$220M
$26M
2019
$749M
$6M
29.0%
3.2%
2.1%
0.8%
$37M
$255M
$15M
2018
$742M
$7M
28.0%
3.0%
2.5%
1.0%
$21M
$291M
$26M
2017
$701M
-$2M
26.8%
0.6%
-0.8%
-0.4%
$36M
$167M
$28M
2016
$685M
$14M
28.4%
3.7%
5.3%
3.1%
—
$87M
$19M
2016
$719M
$25M
28.2%
6.0%
8.9%
5.1%
$53M
$85M
$21M
2015
—
$16M
—
—
6.6%
3.4%
—
$113M
$11M
2014
—
$23M
—
—
9.3%
5.1%
—
$77M
$10M
2013
—
$12M
—
—
5.5%
3.1%
—
$60M
$8M
2012
—
$21M
—
—
11.1%
6.5%
—
$40M
$8M
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Return on equity & assets (ROE / ROA)
ROEROA
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
ROE
ROA
FCF
Total debt
Cash
Sep '26
$205M
$7M
30.3%
7.4%
2.8%
1.2%
$686000
$174M
$19M
Jun '26
$193M
$8M
29.2%
6.7%
3.2%
1.3%
$10M
$172M
$22M
Mar '26
$169M
$2M
26.5%
2.8%
1.0%
0.4%
-$3M
$181M
$25M
Dec '25
$181M
$4M
28.4%
7.0%
1.7%
0.7%
$26M
$178M
$28M
Sep '25
$196M
$13M
29.8%
10.4%
5.8%
2.2%
-$4M
$202M
$28M
Jun '25
$185M
$3M
29.1%
4.5%
1.4%
0.5%
-$15M
$189M
$20M
Mar '25
$162M
-$3M
25.3%
-0.6%
-1.6%
-0.6%
$1M
$172M
$19M
Dec '24
$173M
$5M
26.5%
6.1%
2.6%
1.0%
$22M
$170M
$18M
Sep '24
$183M
$6M
26.8%
6.5%
3.1%
1.2%
$15M
$190M
$20M
Jun '24
$190M
$6M
27.1%
6.3%
3.3%
1.2%
-$284000
$200M
$17M
Mar '24
$184M
$995000
25.0%
3.0%
0.5%
0.2%
-$4M
$198M
$17M
Dec '23
$182M
-$3M
29.5%
0.4%
-1.3%
-0.5%
$10M
$190M
$18M
Sep '23
$179M
-$10M
30.3%
-2.6%
-5.6%
-1.9%
-$12M
$194M
$13M
Jun '23
$176M
$337000
28.2%
2.2%
0.2%
0.1%
$8M
$184M
$18M
Mar '23
$168M
-$5M
27.4%
-1.1%
-2.5%
-0.9%
$101000
$189M
$17M
Dec '22
$168M
$3M
30.3%
3.4%
1.4%
0.5%
$12M
$191M
$20M
Sep '22
$178M
$4M
30.1%
5.1%
2.3%
0.8%
$364000
$201M
$18M
Jun '22
$179M
$5M
29.9%
5.3%
2.4%
0.8%
$10M
$200M
$19M
Mar '22
$162M
-$5M
24.7%
-2.9%
-2.7%
-0.9%
-$8M
$209M
$20M
Dec '21
$171M
-$94000
29.0%
1.3%
-0.0%
-0.0%
$17M
$203M
$24M
Valuation over time
How the market has priced MG against its own fundamentals since 2023-03 —
each month-end's share price set against the most recent annual filing, so the multiple moves
as price runs ahead of (or behind) earnings. Split-adjusted.
The price-to-earnings ratio has risen from 33.2× (Mar '23) to 38.3× (Nov '26).
The price-to-sales ratio has risen from 0.3× (Mar '23) to 0.9× (Nov '26).
Price / earnings (P/E)
P/E
Price / sales (P/S)
P/S
Frequently asked questions
Is MG growing its revenue and profit?
Over the past 5 years, Mistras Group, Inc.'s revenue has grown 4.1% per year. These are computed facts, not advice.
How much debt does MG have?
As of FY2025, Mistras Group, Inc. reported $178M of total debt against $28M of cash; operating income covered interest expense 2.8×.
What is MG's profit margin?
In FY2025, gross margin was 28.2%, operating margin 5.6%, and net margin 2.3%.
What is MG's P/E ratio?
Mistras Group, Inc.'s P/E (TTM) is 30.97 as of the 2026-11-04 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the MG stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 38.3× as of Nov '26) can differ. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.