Mistras Group
Detects corrosion and structural fatigue in energy and industrial infrastructure through field inspection and monitoring instruments.
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Profile
Runs field inspections, in-lab testing, and monitoring instruments that detect corrosion and structural fatigue in energy and industrial infrastructure, organized across a North America services unit, a smaller international arm, and a products business that makes the sensors; oil and gas customers supply roughly half of revenue.
Runs non-destructive testing and asset-integrity services — field inspections, in-lab materials testing, and monitoring instruments — that detect corrosion, cracking, and fatigue in energy and industrial infrastructure before failure. A proprietary software layer ties the results into one asset-condition record.
A North America unit of field crews and labs produces most of the revenue; a smaller international arm covers Europe, the Middle East, Asia outside China and South Korea, and South America; a separate unit builds the sensors sold worldwide.
Oil and gas customers account for roughly half of revenue, with the rest spread across aerospace, defense, power generation, manufacturing, and public infrastructure; no single customer dominates the book.
Traces to a 1978 acoustic-emission sensor lab near Princeton, New Jersey, and listed on the NYSE in 2009 after years of acquisitions; a recent leadership change steers it toward cost discipline.
Company facts
Key statistics
Year to date +43.1% · Average volume (30d) 208.2K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Target |
|---|---|---|---|
| Apr 30, 2026 | Roth Capital | Target | $22 |
| Nov 20, 2025 | UBS | Target | $16 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 10, 2026Q2 FY26 | $0.24 | $0.28 | +17.9% | $189.7M | $193.1M | +1.8% | +17.73% |
| May 5, 2026Q1 FY26 | $0.01 | $0.08 | +1,500.0% | $164.2M | $169.0M | +2.9% | −2.01% |
| Mar 4, 2026Q4 FY25 | $0.20 | $0.25 | +25.0% | $176.5M | $181.5M | +2.8% | −5.74% |
| Nov 4, 2025Q3 FY25 | $0.29 | $0.46 | +58.6% | $189.9M | $195.5M | +3.0% | +23.20% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $161.6M | $185.4M | $195.5M | $181.5M | $169.0M | $193.1M | |
| Gross profit | $38.0M | $51.4M | $55.8M | $48.8M | $42.4M | $56.4M | |
| Operating income | $2.1M | $11.4M | $22.1M | $15.2M | $5.2M | $12.9M | |
| Net income | −$3.2M | $3.0M | $13.1M | $3.9M | $2.4M | $7.6M | |
| Diluted EPS | −$0.10 | $0.10 | $0.41 | $0.12 | $0.07 | $0.23 | |
| Gross margin | 23.5% | 27.7% | 28.6% | 26.9% | 25.1% | 29.2% | |
| Operating margin | 1.3% | 6.1% | 11.3% | 8.4% | 3.1% | 6.7% |
Fiscal years (4-quarter sums)FY21 $677.1M · FY22 $687.4M · FY23 $705.5M · FY24 $729.6M · FY25 $724.0M
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $22.0M · Total debt $200.3M · Total assets $584.1M · Shareholders' equity $240.0M
Dividends
No dividends on record.
Ownership
Shares outstanding 31.82M · Float 19.48M · 61.2% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Foglia Stephanie Athena · 10 percent owner | 5.70M | 17.93% | Form 4 | Jun 12, 2026 |
| 2025 Irrevocable Two-Year Grantor Retained Annuity Trust of Aspasia F. Vahaviolos · 10 percent owner | 5.25M | 16.51% | Form 4 | Feb 27, 2026 |
| Mill Road Capital Management LLC | 1.93M | 6.06% | 13F | Aug 14, 2026 |
| Vahaviolos Aspasia Felice · 10 percent owner | 1.79M | 5.64% | Form 4 | Jun 12, 2026 |
| Dimensional Fund Advisors LP | 1.70M | 5.35% | 13F | Aug 11, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Apr 17, 2026 | Stephanie Athena Foglia | 10 percent owner | −1,000 | $18.00 |
| Mar 3, 2026 | Stephanie Athena Foglia | 10 percent owner | −1,000 | $15.50 |
| Feb 3, 2026 | Stephanie Athena Foglia | 10 percent owner | −1,000 | $14.60 |
| Jan 5, 2026 | Stephanie Athena Foglia | 10 percent owner | −1,000 | $13.60 |
| Sep 15, 2025 | Eileen Mary Coggins | officer: EVP & Chief Legal Officer | +40,000 | $9.55 |
Peers
- TIC Solutions
Largest scaled North American NDT rival after the 2025 NV5 merger
- Team
Head-to-head in NDT, turnaround inspection, and mechanical-integrity work
- Baker Hughes
NDT hardware overlap in portable UT, RVI borescopes, and radiography/CT gear
- UL Solutions
Global product-safety TIC leader with narrow overlap in energy field inspection
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Mistras Group | $18.49 | 0.00% | $588.3M | 22.2 | 15.9 | 0.8 | +4.2% |
| TIC Solutions | $9.56 | 0.00% | $2.11B | — | — | 1.0 | +86.1% |
| Team | $24.74 | +0.81% | $113.1M | — | — | 0.1 | −7.8% |
| Baker Hughes | $62.78 | +0.60% | $61.95B | 20.1 | 23.4 | 2.2 | −2.4% |
| UL Solutions | $75.42 | +1.25% | $14.96B | 30.1 | 30.7 | 4.8 | +5.2% |
| Median | 25.1 | 27.0 | 1.6 | +1.4% |