Mistras Group, Inc. key statistics and ratios

In fiscal 2025, Mistras Group, Inc. had return on equity of 7.8% and a net margin of 2.3%. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Mistras Group, Inc.: financial ratios, annual
Fiscal year	2010May 2010	2011May 2011	2012May 2012	2013May 2013	2014May 2014	2015May 2015	2016May 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMSept 2026
Net margin	3.8%	4.9%	4.9%	2.2%	3.6%	2.3%	3.4%	−0.3%	0.9%	0.8%	−16.8%	0.6%	0.9%	−2.5%	2.6%	2.3%	2.8%
Return on equity	8.0%	11.0%	11.9%	5.8%	10.0%	6.6%	9.5%	−0.8%	2.5%	2.2%	−41.2%	1.9%	3.3%	−9.0%	9.8%	7.8%	8.6%
Return on assets	—	6.6%	7.4%	3.3%	5.5%	3.5%	5.2%	−0.4%	1.1%	0.9%	−15.3%	0.7%	1.2%	−3.3%	3.6%	3.1%	3.5%
Effective tax rate	38.4%	39.1%	36.5%	52.0%	35.7%	37.9%	35.8%	—	52.0%	41.8%	—	46.6%	29.3%	—	21.8%	24.7%	29.7%
R&D as % of revenue	0.9%	0.6%	0.5%	0.5%	0.5%	0.4%	0.4%	0.3%	0.4%	0.4%	0.5%	0.4%	0.3%	0.2%	0.2%	0.1%	0.1%
SG&A as % of revenue	20.4%	19.5%	19.0%	19.2%	19.8%	20.2%	19.6%	21.7%	22.3%	22.5%	26.5%	23.8%	24.2%	20.9%	18.6%	19.3%	19.4%

US$ thousands unless shown otherwise. Fiscal quarters.

Mistras Group, Inc.: financial ratios, quarterly
Quarter	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026	2026 Q3Sept 2026
Net margin	3.0%	−2.0%	1.6%	6.7%	2.1%	1.4%	3.9%	3.4%
R&D as % of revenue	0.2%	0.2%	0.1%	0.1%	0.1%	0.1%	0.1%	0.1%
SG&A as % of revenue	17.3%	22.1%	21.5%	17.1%	17.1%	21.9%	20.0%	18.8%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

4 of 7 checks passed · September 30, 2026

What it owns · $597m

Short-term assets $226mLonger-term assets $371m

What it owes, and who funded it · $597m

Short-term liabilities $130mLonger-term liabilities $219mShareholders' equity $248m

Short-term assets cover short-term liabilities $226m of assets due within a year against $130m of liabilities due within a year.
Short-term assets cover long-term liabilities $226m short-term assets against $219m of longer-dated liabilities.
More cash than debt $19m of cash against $174m of debt.
Debt below 40% of shareholders' equity Debt is 70% of equity.
Debt burden no higher than five years ago Debt to equity moved from 95% to 70% over five years.
A year's operating cash flow covers at least 20% of debt $62m of operating cash flow against $174m of debt.
Operating profit covers interest at least five times over Operating income of $45m against $14m of interest.

From Mistras Group, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

26 /100

Weak moat

How hard Mistras Group's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

Returns on capital 6 / 20

Cash operating profit has been a median 5.9% of total assets over 10 years.
Pricing power 11 / 20

Gross margin has been a median 28.6%, moving by 0.9 percentage points (standard deviation) across 10 years.
Durability 0 / 20

Operating margin has been a median 3.2%; its worst year was -17.0%.
Cash conversion 12 / 20

Free cash flow was positive in 10 of 10 years, at a median 3.6% of revenue.
Discipline 13 / 20

The diluted share count rose 11.2% over five years; stock-based pay has been a median 0.8% of revenue.

AI disruption exposure: High. In this industry, the core product is information work that AI systems increasingly perform. The score above includes a 15-point deduction for that exposure (41 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

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Figures from Mistras Group, Inc.'s SEC filings (10-K and 10-Q), retrieved November 2, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Mistras Group, Inc.