Latest Ratios: P/E Ratio 31.7x · EV/EBITDA 8.7x · ROE 7.7%. (2008–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $535M | $406M | $286M | $222M | $149M | $224M | $226M | $414M | $423M | $667M | $773M |
| Enterprise Value | $749M | $620M | $470M | $422M | $344M | $426M | $446M | $681M | $701M | $821M | $857M |
| P/E Ratio → | 31.70 | 23.87 | 15.10 | — | 22.41 | 57.15 | — | 67.95 | 62.52 | — | 53.50 |
| P/S Ratio | 0.74 | 0.56 | 0.39 | 0.31 | 0.22 | 0.33 | 0.38 | 0.55 | 0.57 | 0.95 | 1.13 |
| P/B Ratio | 2.29 | 1.72 | 1.44 | 1.17 | 0.75 | 1.11 | 1.15 | 1.45 | 1.56 | 2.46 | 2.80 |
| P/FCF | 64.35 | 48.82 | 10.55 | 71.64 | 11.47 | 9.74 | 4.35 | 11.45 | 20.60 | 19.24 | 16.34 |
| P/OCF | 16.21 | 12.30 | 5.71 | 8.30 | 5.64 | 5.30 | 3.34 | 7.01 | 10.16 | 12.08 | 12.23 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.86 | 0.64 | 0.60 | 0.50 | 0.63 | 0.75 | 0.91 | 0.94 | 1.17 | 1.25 |
| EV / EBITDA | 8.71 | 7.21 | 6.45 | 13.10 | 6.49 | 8.02 | — | 10.87 | 12.38 | 23.10 | 14.66 |
| EV / EBIT | 14.07 | 11.65 | 11.37 | — | 17.40 | 23.44 | — | 28.23 | 31.56 | 197.36 | 33.54 |
| EV / FCF | — | 74.65 | 17.30 | 136.13 | 26.51 | 18.53 | 8.57 | 18.83 | 34.14 | 23.68 | 18.10 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 26.8% | 26.8% | 29.2% | 28.9% | 28.8% | 29.1% | 30.1% | 29.0% | 28.0% | 26.8% | 24.6% |
| Operating Margin | 7.4% | 7.4% | 5.5% | -0.3% | 2.9% | 2.7% | -17.1% | 3.2% | 3.0% | 0.6% | 3.7% |
| Net Profit Margin | 2.3% | 2.3% | 2.6% | -2.5% | 0.9% | 0.6% | -16.8% | 0.8% | 0.9% | -0.3% | 2.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 7.7% | 7.7% | 9.7% | -9.0% | 3.3% | 1.9% | -41.2% | 2.2% | 2.5% | -0.8% | 5.4% |
| ROA | 3.1% | 3.1% | 3.6% | -3.3% | 1.2% | 0.7% | -15.3% | 0.9% | 1.1% | -0.4% | 3.0% |
| ROIC | 9.6% | 9.6% | 7.7% | -0.4% | 3.7% | 3.3% | -15.7% | 3.3% | 3.4% | 0.8% | 5.2% |
| ROCE | 12.3% | 12.3% | 9.6% | -0.4% | 4.5% | 4.0% | -18.7% | 4.0% | 4.2% | 1.0% | 6.6% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.03 | 1.03 | 1.01 | 1.14 | 1.09 | 1.13 | 1.24 | 0.99 | 1.12 | 0.67 | 0.38 |
| Debt / EBITDA | 2.82 | 2.82 | 2.77 | 6.76 | 4.07 | 4.26 | — | 4.50 | 5.36 | 5.11 | 1.79 |
| Net Debt / Equity | — | 0.91 | 0.92 | 1.05 | 0.98 | 1.01 | 1.11 | 0.93 | 1.03 | 0.57 | 0.30 |
| Net Debt / EBITDA | 2.50 | 2.50 | 2.52 | 6.21 | 3.68 | 3.81 | — | 4.26 | 4.91 | 4.33 | 1.43 |
| Debt / FCF | — | 25.83 | 6.75 | 64.49 | 15.04 | 8.79 | 4.22 | 7.38 | 13.54 | 4.44 | 1.77 |
| Interest Coverage | 3.63 | 3.63 | 2.42 | -0.11 | 1.88 | 1.67 | -7.81 | 1.76 | 2.80 | 0.95 | 8.31 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.47 | 1.47 | 1.50 | 1.55 | 1.62 | 1.33 | 1.48 | 1.64 | 2.02 | 2.16 | 1.94 |
| Quick Ratio | 1.36 | 1.36 | 1.37 | 1.42 | 1.49 | 1.22 | 1.36 | 1.52 | 1.89 | 2.04 | 1.84 |
| Cash Ratio | 0.23 | 0.23 | 0.16 | 0.15 | 0.20 | 0.20 | 0.23 | 0.14 | 0.25 | 0.31 | 0.22 |
| Asset Turnover | — | 1.25 | 1.40 | 1.32 | 1.29 | 1.20 | 1.02 | 1.04 | 1.07 | 1.26 | 1.42 |
| Inventory Turnover | 37.84 | 37.84 | 35.66 | 32.83 | 36.09 | 37.84 | 31.52 | 39.61 | 40.95 | 48.87 | 52.04 |
| Days Sales Outstanding | — | 77.97 | 63.67 | 68.73 | 65.66 | 59.03 | 66.29 | 66.31 | 72.93 | 71.90 | 69.75 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.2% | 4.2% | 6.6% | — | 4.5% | 1.7% | — | 1.5% | 1.6% | — | 1.9% |
| FCF Yield | 1.6% | 2.0% | 9.5% | 1.4% | 8.7% | 10.3% | 23.0% | 8.7% | 4.9% | 5.2% | 6.1% |
| Buyback Yield | 0.0% | 0.0% | 0.5% | 0.7% | 0.7% | 0.6% | 0.2% | 0.0% | 0.5% | 2.4% | 1.2% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.5% | 0.7% | 0.7% | 0.6% | 0.2% | 0.0% | 0.5% | 2.4% | 1.2% |
| Shares Outstanding | — | $32M | $32M | $30M | $30M | $30M | $29M | $29M | $29M | $28M | $30M |
Cyclical margin compression
Based on reported figures, Mistras Group trades at a P/S of 0.83 and a forward P/E of 18.05, suggesting that investors are pricing the company as a cyclical turnaround play rather than a high-growth industrial technology firm with durable competitive advantages.
The valuation multiples appear to discount the potential for software-driven margin expansion, reflecting skepticism regarding the company's ability to transition away from labor-intensive service models. Investors should monitor whether the forward P/E compression indicates an expectation of earnings recovery or merely a reflection of depressed sector-wide sentiment.
According to recent financial statements, Mistras Group's net margin remains extremely thin at 2.33%, which, when compared to the broader industrial services sector, suggests that the company lacks the pricing power necessary to offset persistent wage inflation and operational inefficiencies.
The volatility in gross margins, which fluctuated between 19.6% and 32.6% over the last ten quarters, indicates that the company's earning power is highly sensitive to project mix and technician utilization. This lack of margin stability warrants further investigation into whether the current cost structure is fundamentally misaligned with its service-heavy revenue model.
As reported in quarterly filings, Mistras Group's ROIC has struggled to maintain positive momentum, frequently dipping toward 0.9% in recent periods, which implies that the company is failing to generate returns on invested capital that exceed its likely cost of capital.
The persistent decay in ROIC suggests that past acquisitions may not be yielding the expected synergies, as the capital base remains bloated relative to the modest operating income generated. Investors should consider whether the company's reliance on intangible assets, such as goodwill, is masking a structural inability to compound shareholder value.
Based on the provided data, Mistras Group's cash conversion cycle remains volatile, with DSO levels hovering around 80 days, indicating that the company faces significant challenges in managing its receivables and optimizing cash flow from its industrial service contracts.
The extended collection periods suggest that Mistras may have limited leverage over its larger oil and gas clients, forcing the company to absorb the working capital burden of long-term maintenance projects. This inefficiency appears to be a primary driver of the company's inconsistent free cash flow generation.
As indicated by the company's historical financial data, the P/E ratio is a frequently misapplied metric for Mistras Group because it fails to account for the significant non-cash charges and restructuring costs that frequently distort the company's reported net income.
Analysts should instead prioritize EV/EBITDA or P/FCF to better capture the underlying cash-generating capacity of the business, as these metrics are less susceptible to the accounting volatility inherent in the company's acquisition-heavy strategy. Relying on P/E alone may lead to an inaccurate assessment of the company's true valuation relative to its peers.
Includes 30+ ratios · 18 years · Updated daily
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Quick answers to the most common questions about buying MG stock.
Mistras Group, Inc.'s current P/E ratio is 31.7x. The historical average is 39.9x. This places it at the 54th percentile of its historical range.
Mistras Group, Inc.'s current EV/EBITDA is 8.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 12.7x.
Mistras Group, Inc.'s return on equity (ROE) is 7.7%. The historical average is 3.2%.
Based on historical data, Mistras Group, Inc. is trading at a P/E of 31.7x. This is at the 54th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Mistras Group, Inc. has 26.8% gross margin and 7.4% operating margin.
Mistras Group, Inc.'s Debt/EBITDA ratio is 2.8x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.