Filing Flows › Mistras Group (MG) › Q4 2025
Mistras Group (MG) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 11, 2026
Mistras Group (MG) reported revenue of $181M for the fourth quarter 2025 (Q4 2025), +5% from a year earlier and -7% from the quarter before. Operating margin was 7.0%, net earnings $3.8M (2.1% of revenue).
Mistras Group, Q4 2025: revenue $181M (+5% year over year), operating margin 7.0%, net earnings $3.8M, operating cash flow $32.1M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $181M | -7% | +5% |
| Gross profit | $51.5M | -12% | +12% |
| Operating profit | $12.8M | -37% | +22% |
| Net earnings | $3.8M | -72% | -27% |
| Operating cash flow | $32.1M | +620% | +25% |
| Free cash flow | $26.0M | — | +18% |
What changed
Revenue was $181.5M in Q4 2025, up 5% year over year and down 7% from the previous quarter.
Gross margin was 28.4%, up 1.9 points from a year earlier. Operating profit was $12.8M, a 7.0% margin (up 1.0 points year over year). Of the extra revenue versus a year earlier, 27% reached operating profit, above the 6% margin then. Operating expenses grew 10% against revenue growth of 5%. The fastest-growing cost line was Other operating costs (+44%). Net earnings were $3.9M, down 25% year over year. The effective tax rate was 33.2%.
Operating cash flow was $32.1M (up 25% year over year), 855% of net income including minority interests. Non-cash charges added back $7.8M of depreciation and amortization and $1.7M of share-based compensation. Working capital and other items added $18.8M. Capital expenditures of $6.1M left free cash flow of $26.0M.
Questions
What was Mistras Group's revenue in the fourth quarter 2025?
Mistras Group (MG) reported revenue of $181M for the fourth quarter 2025 (Q4 2025), +5% from a year earlier and -7% from the quarter before.
Was Mistras Group profitable in the fourth quarter 2025?
Operating profit was $12.8M (7.0% of revenue) and net earnings $3.8M.
Source: Mistras Group 10-K on SEC EDGAR.