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
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
FCF
Total debt
Cash
2025
$724M
$17M
28.2%
5.6%
$8M
$178M
$28M
2024
$730M
$19M
26.3%
5.5%
$32M
$170M
$18M
2023
$705M
-$17M
26.1%
-0.3%
$6M
$190M
$18M
2022
$687M
$6M
28.8%
2.9%
$14M
$191M
$20M
2021
$677M
$4M
29.1%
2.7%
$24M
$203M
$24M
2020
$593M
-$99M
30.1%
-17.1%
$52M
$220M
$26M
2019
$749M
$6M
29.0%
3.2%
$37M
$255M
$15M
2018
$742M
$7M
28.0%
3.0%
$21M
$291M
$26M
2017
$701M
-$2M
26.8%
0.6%
$36M
$167M
$28M
2016
$685M
$14M
28.4%
3.7%
—
$87M
$19M
2016
$719M
$25M
28.2%
6.0%
$53M
$85M
$21M
2015
—
$16M
—
—
—
$113M
$11M
2014
—
$23M
—
—
—
$77M
$10M
2013
—
$12M
—
—
—
$60M
$8M
2012
—
$21M
—
—
—
$40M
$8M
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
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
FCF
Total debt
Cash
Mar '26
$169M
$2M
26.5%
2.8%
-$3M
$181M
$25M
Dec '25
$181M
$4M
28.4%
7.0%
$26M
$178M
$28M
Sep '25
$196M
$13M
29.8%
10.4%
-$4M
$202M
$28M
Jun '25
$185M
$3M
29.1%
4.5%
-$15M
$189M
$20M
Mar '25
$162M
-$3M
25.3%
-0.6%
$1M
$172M
$19M
Dec '24
$173M
$5M
26.5%
6.1%
$22M
$170M
$18M
Sep '24
$183M
$6M
26.8%
6.5%
$15M
$190M
$20M
Jun '24
$190M
$6M
27.1%
6.3%
-$284000
$200M
$17M
Mar '24
$184M
$995000
25.0%
3.0%
-$4M
$198M
$17M
Dec '23
$182M
-$3M
29.5%
0.4%
$10M
$190M
$18M
Sep '23
$179M
-$10M
30.3%
-2.6%
-$12M
$194M
$13M
Jun '23
$176M
$337000
28.2%
2.2%
$8M
$184M
$18M
Mar '23
$168M
-$5M
27.4%
-1.1%
$101000
$189M
$17M
Dec '22
$168M
$3M
30.3%
3.4%
$12M
$191M
$20M
Sep '22
$178M
$4M
30.1%
5.1%
$364000
$201M
$18M
Jun '22
$179M
$5M
29.9%
5.3%
$10M
$200M
$19M
Mar '22
$162M
-$5M
24.7%
-2.9%
-$8M
$209M
$20M
Dec '21
$171M
-$94000
29.0%
1.3%
$17M
$203M
$24M
Sep '21
$175M
$3M
29.9%
5.3%
-$599000
$216M
$23M
Jun '21
$178M
$6M
31.1%
6.4%
$9M
$211M
$20M
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 35.6× (Jun '26).
The price-to-sales ratio has risen from 0.3× (Mar '23) to 0.8× (Jun '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?
As of Jun '26, Mistras Group, Inc. traded at a price-to-earnings ratio of about 35.6× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S have moved with the share price. 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), corporate-action-adjusted ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.