MG - Mistras Group, Inc.

📈 Is growth accelerating? 7 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 May 31, 2016 10-K ↗	FY 2014 May 31, 2015 10-K ↗	FY 2013 May 31, 2014 10-K ↗	FY 2012 May 31, 2013 10-K ↗	FY 2011 May 31, 2012 10-K ↗	FY 2010 May 31, 2011 10-K ↗	FY 2009 May 31, 2010 10-K ↗	FY 2008 May 31, 2009 10-K ↗
Revenue Growth YoY (%)	-0.8% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-115%)	3.4% Caution ↓ Caution Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-31%)	2.6% Caution ↑ Caution Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-47%)	1.5% Caution ↑ Caution Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-70%)	14.3% Good ↑ Good Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+185%)	-20.8% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-517%)	0.8% Caution ↓ Caution Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-83%)	5.9% Fair ↑ Fair Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+18%)	2.4% Caution ↓ Caution Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-53%)	-4.8% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-196%)	1.1% Caution ↓ Caution Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-78%)	14.1% Good ↓ Good Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+182%)	17.8% Good ↓ Good Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+256%)	21.2% Excellent ↓ Excellent Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+323%)	29.0% Excellent Excellent Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+481%)	24.4% Excellent Excellent Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+388%)	—	—
EPS Growth YoY (%)	-11.5% Weak Weak Year-over-year change in earnings per share Optimal: > 10%	—	—	69.2% Excellent Excellent Year-over-year change in earnings per share Optimal: > 10%	N/M	N/M	-12.5% Weak Weak Year-over-year change in earnings per share Optimal: > 10%	N/M	—	—	—	—	—	—	—	—	—	—
Net Income Growth YoY (%)	-11.2% Weak Weak Year-over-year change in net income	N/M	N/M	68.4% Excellent Excellent Year-over-year change in net income	N/M	N/M	-11.4% Weak Weak Year-over-year change in net income	N/M	N/M	-41.6% Weak ↓ Weak Declining Year-over-year change in net income	53.3% Excellent ↑ Excellent Improving Year-over-year change in net income	-28.6% Weak ↓ Weak Declining Year-over-year change in net income	93.4% Excellent ↑ Excellent Improving Year-over-year change in net income	-45.5% Weak ↓ Weak Declining Year-over-year change in net income	30.0% Excellent Excellent Year-over-year change in net income	57.6% Excellent Excellent Year-over-year change in net income	—	—
FCF Growth YoY (%)	-74.6% Weak ↓ Weak Declining Year-over-year change in free cash flow	436.2% Excellent ↑ Excellent Improving Year-over-year change in free cash flow	-57.9% Weak ↓ Weak Declining Year-over-year change in free cash flow	-43.3% Weak ↓ Weak Declining Year-over-year change in free cash flow	-54.7% Weak ↓ Weak Declining Year-over-year change in free cash flow	39.4% Excellent ↑ Excellent Improving Year-over-year change in free cash flow	73.8% Excellent Excellent Year-over-year change in free cash flow	-42.2% Weak Weak Year-over-year change in free cash flow	—	—	—	—	—	—	—	—	—	—
Revenue CAGR 3Y (%)	1.7% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	2.5% Caution ↑ Caution Improving Compound annual revenue growth over 3 years	6.0% Fair ↑ Fair Improving Compound annual revenue growth over 3 years	-2.8% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	-3.0% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	-5.4% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	3.0% Caution ↑ Caution Improving Compound annual revenue growth over 3 years	1.1% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	-0.5% Weak ↓ Weak Declining Compound annual revenue growth over 3 years	3.2% Caution ↓ Caution Declining Compound annual revenue growth over 3 years	10.8% Good ↓ Good Declining Compound annual revenue growth over 3 years	17.6% Excellent ↓ Excellent Declining Compound annual revenue growth over 3 years	22.6% Excellent Excellent Compound annual revenue growth over 3 years	24.8% Excellent Excellent Compound annual revenue growth over 3 years	—	—	—	—
Revenue CAGR 5Y (%)	4.1% Fair ↑ Fair Improving Compound annual revenue growth over 5 years	-0.5% Weak ↑ Weak Improving Compound annual revenue growth over 5 years	-1.0% Weak ↑ Weak Improving Compound annual revenue growth over 5 years	-0.4% Weak ↑ Weak Improving Compound annual revenue growth over 5 years	-0.2% Weak ↓ Weak Declining Compound annual revenue growth over 5 years	-3.8% Weak ↓ Weak Declining Compound annual revenue growth over 5 years	1.0% Caution ↓ Caution Declining Compound annual revenue growth over 5 years	3.6% Caution ↓ Caution Declining Compound annual revenue growth over 5 years	5.8% Fair ↓ Fair Declining Compound annual revenue growth over 5 years	9.4% Good ↓ Good Declining Compound annual revenue growth over 5 years	16.3% Excellent Excellent Compound annual revenue growth over 5 years	21.2% Excellent Excellent Compound annual revenue growth over 5 years	—	—	—	—	—	—
EPS CAGR 3Y (%)	34.9% Excellent → Excellent Stable Compound annual EPS growth over 3 years	67.4% Excellent ↑ Excellent Improving Compound annual EPS growth over 3 years	—	1.6% Caution Caution Compound annual EPS growth over 3 years	-18.5% Weak Weak Compound annual EPS growth over 3 years	—	—	—	—	—	—	—	—	—	—	—	—	—

💰 Are margins durable? 5 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 May 31, 2016 10-K ↗	FY 2014 May 31, 2015 10-K ↗	FY 2013 May 31, 2014 10-K ↗	FY 2012 May 31, 2013 10-K ↗	FY 2011 May 31, 2012 10-K ↗	FY 2010 May 31, 2011 10-K ↗	FY 2009 May 31, 2010 10-K ↗	FY 2008 May 31, 2009 10-K ↗
Operating Margin (%) (%)	5.6% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-53%)	5.5% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-55%)	-0.3% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-102%)	2.9% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-76%)	2.7% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-78%)	-17.1% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-242%)	3.2% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-73%)	3.0% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-75%)	0.6% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-95%)	3.7% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-69%)	6.0% Caution ↑ Caution Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-50%)	4.3% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-64%)	6.1% Caution ↓ Caution Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-49%)	5.2% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-57%)	8.3% Caution → Caution Stable Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-31%)	8.7% Caution Caution Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-27%)	7.7% Caution Caution Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-36%)	—
Effective Tax Rate (%) (%)	24.7% Fair ↑ Fair Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	21.8% Fair ↓ Fair Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	6.5% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	29.3% Caution → Caution Stable Actual taxes paid relative to pre-tax income Optimal: 15-25%	46.6% Weak Weak Actual taxes paid relative to pre-tax income Optimal: 15-25%	12.9% Excellent Excellent Actual taxes paid relative to pre-tax income Optimal: 15-25%	—	—	—	—	—	—	—	—	—	—	—	—
Profit Margin (%) (%)	2.3% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-71%)	2.6% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-68%)	-2.5% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-131%)	0.9% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-88%)	0.6% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-93%)	-16.8% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-310%)	0.8% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-90%)	0.9% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-88%)	-0.3% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-104%)	2.1% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-74%)	3.4% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-57%)	2.3% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-72%)	3.6% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-55%)	2.2% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-72%)	4.9% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-39%)	4.9% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-39%)	3.8% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-52%)	—
FCF Margin (%) (%)	1.1% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	4.4% Weak ↑ Weak Improving Free cash flow as a percentage of revenue Optimal: > 10%	0.8% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	2.0% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	3.6% Weak ↓ Weak Declining Free cash flow as a percentage of revenue Optimal: > 10%	8.8% Caution ↑ Caution Improving Free cash flow as a percentage of revenue Optimal: > 10%	5.0% Weak ↑ Weak Improving Free cash flow as a percentage of revenue Optimal: > 10%	2.8% Weak Weak Free cash flow as a percentage of revenue Optimal: > 10%	5.2% Caution Caution Free cash flow as a percentage of revenue Optimal: > 10%	—	—	—	—	—	—	—	—	—
FCF / Net Income (x)	0.49x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	1.70x Excellent ↓ Excellent Declining Free cash flow relative to reported net income Optimal: > 1x	-0.34x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	2.13x Excellent ↓ Excellent Declining Free cash flow relative to reported net income Optimal: > 1x	6.24x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	-0.53x Weak ↑ Weak Improving Free cash flow relative to reported net income Optimal: > 1x	6.12x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	3.08x Excellent Excellent Free cash flow relative to reported net income Optimal: > 1x	-16.77x Weak Weak Free cash flow relative to reported net income Optimal: > 1x	—	—	—	—	—	—	—	—	—

🎯 Is capital allocation efficient? 3 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 May 31, 2016 10-K ↗	FY 2014 May 31, 2015 10-K ↗	FY 2013 May 31, 2014 10-K ↗	FY 2012 May 31, 2013 10-K ↗	FY 2011 May 31, 2012 10-K ↗	FY 2010 May 31, 2011 10-K ↗	FY 2009 May 31, 2010 10-K ↗	FY 2008 May 31, 2009 10-K ↗
Return on Invested Capital (%)	7.4% Fair ↑ Fair Improving Return earned on debt + equity capital invested Optimal: > 10%	8.5% Fair ↑ Fair Improving Return earned on debt + equity capital invested Optimal: > 10%	-0.5% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	3.6% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	2.4% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-21.1% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	3.5% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	3.1% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	0.8% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	5.6% Caution ↓ Caution Declining Return earned on debt + equity capital invested Optimal: > 10%	9.4% Fair ↑ Fair Improving Return earned on debt + equity capital invested Optimal: > 10%	6.7% Caution ↓ Caution Declining Return earned on debt + equity capital invested Optimal: > 10%	9.5% Fair ↓ Fair Declining Return earned on debt + equity capital invested Optimal: > 10%	8.1% Fair ↓ Fair Declining Return earned on debt + equity capital invested Optimal: > 10%	12.2% Good Good Return earned on debt + equity capital invested Optimal: > 10%	12.9% Good Good Return earned on debt + equity capital invested Optimal: > 10%	—	—
Return on Capital (%) (%)	7.0% Fair ↑ Fair Improving Operating profit relative to total assets Optimal: > 10%	7.6% Fair ↑ Fair Improving Operating profit relative to total assets Optimal: > 10%	-0.4% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	3.7% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	3.2% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-17.4% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	3.4% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	3.2% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	0.8% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	5.4% Caution ↓ Caution Declining Operating profit relative to total assets Optimal: > 10%	8.9% Fair ↑ Fair Improving Operating profit relative to total assets Optimal: > 10%	6.4% Caution ↓ Caution Declining Operating profit relative to total assets Optimal: > 10%	8.6% Fair ↓ Fair Declining Operating profit relative to total assets Optimal: > 10%	7.3% Fair ↓ Fair Declining Operating profit relative to total assets Optimal: > 10%	10.9% Good Good Operating profit relative to total assets Optimal: > 10%	11.9% Good Good Operating profit relative to total assets Optimal: > 10%	—	—
Return on Common Equity (%) (%)	7.2% Caution ↑ Caution Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-52%)	9.5% Caution ↑ Caution Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-36%)	-9.2% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-161%)	3.3% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-78%)	1.9% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-87%)	-50.5% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-437%)	2.1% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-86%)	2.5% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-83%)	-0.8% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-105%)	5.3% Caution ↓ Caution Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-64%)	8.9% Caution ↑ Caution Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-40%)	6.6% Caution ↓ Caution Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-56%)	9.3% Caution ↑ Caution Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-38%)	5.5% Caution ↓ Caution Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-63%)	11.1% Fair Fair Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-26%)	9.8% Caution Caution Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-34%)	—	—

⚖️ Is the balance sheet risky? 4 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 May 31, 2016 10-K ↗	FY 2014 May 31, 2015 10-K ↗	FY 2013 May 31, 2014 10-K ↗	FY 2012 May 31, 2013 10-K ↗	FY 2011 May 31, 2012 10-K ↗	FY 2010 May 31, 2011 10-K ↗	FY 2009 May 31, 2010 10-K ↗	FY 2008 May 31, 2009 10-K ↗
Debt to Equity (x)	0.76x Fair ↓ Fair Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+8%)	0.85x Fair ↓ Fair Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+22%)	1.00x Caution → Caution Stable Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+43%)	0.96x Fair → Fair Stable Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+38%)	1.01x Caution → Caution Stable Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+44%)	1.12x Caution ↑ Caution Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+60%)	0.89x Fair ↑ Fair Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+27%)	1.07x Caution ↑ Caution Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+53%)	0.62x Fair ↑ Fair Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-12%)	0.32x Good ↓ Good Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-54%)	0.31x Good ↓ Good Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-56%)	0.46x Good ↑ Good Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-34%)	0.32x Good ↑ Good Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-55%)	0.29x Excellent ↑ Excellent Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-59%)	0.21x Excellent Excellent Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-70%)	0.09x Excellent Excellent Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-88%)	—	—
Interest Coverage (x)	3.04x Fair ↑ Fair Improving Operating income divided by interest expense Optimal: > 5x	2.56x Caution ↑ Caution Improving Operating income divided by interest expense Optimal: > 5x	-0.11x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	1.88x Caution ↑ Caution Improving Operating income divided by interest expense Optimal: > 5x	1.67x Caution ↑ Caution Improving Operating income divided by interest expense Optimal: > 5x	-7.81x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	1.76x Caution ↓ Caution Declining Operating income divided by interest expense Optimal: > 5x	2.80x Caution ↓ Caution Declining Operating income divided by interest expense Optimal: > 5x	0.95x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	8.31x Good ↓ Good Declining Operating income divided by interest expense Optimal: > 5x	9.07x Good → Good Stable Operating income divided by interest expense Optimal: > 5x	6.57x Good Good Operating income divided by interest expense Optimal: > 5x	12.00x Excellent Excellent Operating income divided by interest expense Optimal: > 5x	—	—	—	—	—
Net Debt (USD)	$149.98M	$151.33M	$172.75M	$170.76M	$178.46M	$194.46M	$239.70M	$265.08M	$139.34M	$68.14M	$63.82M	$102.90M	$66.63M	$52.47M	$31.82M	$3.75M	$-16.04M	$-5.67M
Debt / EBITDA (x)	2.49x Fair ↓ Fair Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	2.33x Fair ↓ Fair Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	5.91x Weak ↑ Weak Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	3.60x Caution ↑ Caution Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	3.82x Caution ↑ Caution Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	-3.36x Excellent ↓ Excellent Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	4.06x Weak ↓ Weak Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	5.13x Weak ↑ Weak Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	4.70x Weak ↑ Weak Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	3.42x Caution ↑ Caution Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	1.12x Good ↓ Good Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	1.78x Good ↑ Good Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	1.15x Good ↑ Good Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	1.11x Good ↑ Good Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	0.69x Excellent Excellent Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	0.30x Excellent Excellent Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	—	—

📊 What does each share earn? 6 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 May 31, 2016 10-K ↗	FY 2014 May 31, 2015 10-K ↗	FY 2013 May 31, 2014 10-K ↗	FY 2012 May 31, 2013 10-K ↗	FY 2011 May 31, 2012 10-K ↗	FY 2010 May 31, 2011 10-K ↗	FY 2009 May 31, 2010 10-K ↗	FY 2008 May 31, 2009 10-K ↗
Revenue per Share (USD)	$23.05	$23.59	$23.26	$22.99	$22.90	$20.33	$26.05	$26.13	$24.66	$23.65	$24.92	$24.86	$21.98	$18.81	$15.69	$12.67	$12.52	—
Basic EPS, GAAP (USD)	$0.54	$0.61	—	$0.22	$0.13	$-3.41	$0.21	$0.24	$-0.08	—	—	—	—	—	—	—	—	—
Free Cash Flow per Share (USD)	$0.26	$1.04	$0.19	$0.46	$0.81	$1.80	$1.29	$0.74	$1.28	—	—	—	—	—	—	—	—	—
Book Value per Share (USD)	$7.49	$6.42	$6.27	$6.64	$6.79	$6.76	$9.95	$9.54	$9.52	$9.34	$9.54	$8.53	$8.51	$7.45	$6.89	$6.04	—	—
Tangible Book Value per Share (USD)	$0.38	$-0.73	$-1.36	$-1.68	$-2.17	$-2.66	$-3.69	$-4.22	$0.12	$2.09	$2.19	$0.95	$1.89	$1.50	$2.20	$2.74	—	—
Basic Weighted Avg Shares (shares)	31.41M	30.93M	30.33M	29.90M	29.57M	29.15M	28.74M	28.41M	28.42M	28.96M	28.86M	28.61M	28.36M	28.14M	27.84M	26.72M	21.74M	—

🏦 How resilient is the balance sheet? 3 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 May 31, 2016 10-K ↗	FY 2014 May 31, 2015 10-K ↗	FY 2013 May 31, 2014 10-K ↗	FY 2012 May 31, 2013 10-K ↗	FY 2011 May 31, 2012 10-K ↗	FY 2010 May 31, 2011 10-K ↗	FY 2009 May 31, 2010 10-K ↗	FY 2008 May 31, 2009 10-K ↗
Working Capital (USD)	$91.88M	$57.55M	$63.83M	$64.15M	$39.92M	$52.74M	$69.92M	$102.32M	$104.78M	$104.94M	$91.07M	$77.94M	$88.34M	$68.09M	$69.30M	$56.19M	—	—
LT Debt (USD)	$177.99M	$169.65M	$190.40M	$191.25M	$202.56M	$220.22M	$254.71M	$290.62M	$166.88M	$87.30M	$85.01M	$113.46M	$76.65M	$60.27M	$40.23M	$14.62M	—	—
Total Equity (USD)	$235.10M	$198.57M	$190.19M	$198.45M	$200.68M	$197.02M	$285.82M	$270.90M	$270.62M	$270.58M	$276.16M	$244.82M	$242.10M	$210.05M	$193.01M	$167.16M	—	—

📋 What is driving earnings? 4 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 May 31, 2016 10-K ↗	FY 2014 May 31, 2015 10-K ↗	FY 2013 May 31, 2014 10-K ↗	FY 2012 May 31, 2013 10-K ↗	FY 2011 May 31, 2012 10-K ↗	FY 2010 May 31, 2011 10-K ↗	FY 2009 May 31, 2010 10-K ↗	FY 2008 May 31, 2009 10-K ↗
Sales/Revenue/Turnover (USD)	$724.02M	$729.64M	$705.47M	$687.37M	$677.13M	$592.57M	$748.59M	$742.35M	$700.97M	$684.76M	$719.18M	$711.25M	$623.45M	$529.28M	$436.88M	$338.59M	$272.13M	—
Depreciation Expense (USD)	$31.01M	$33.01M	$34.10M	$33.29M	$34.92M	$35.70M	$38.53M	$34.41M	$31.38M	—	$32.47M	$33.29M	$28.43M	$26.65M	$22.02M	$18.59M	$15.18M	—
Net Income, GAAP (USD)	$16.84M	$18.96M	$-17.45M	$6.50M	$3.86M	$-99.46M	$6.06M	$6.84M	$-2.17M	$14.41M	$24.65M	$16.08M	$22.52M	$11.65M	$21.35M	$16.43M	$10.43M	—
Operating Cash Flow (USD)	$32.98M	$50.13M	$26.75M	$26.41M	$42.26M	$67.80M	$59.11M	$41.66M	$55.80M	—	—	—	—	—	—	—	—	—

Mistras Group, Inc.

Analytical Summary

18-Year Financial Trajectory

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