MG on NYSE

Mistras Group, Inc.

American engineering services company based in Princeton Junction.

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Last updated Oct 18, 2026.

Overview

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  • TickerMG on NYSE
  • IndustryServices-Engineering Services
  • HeadquartersPrinceton Junction, United States
  • Incorporated inDE2
  • Business address195 Clarksville Road, Princeton Junction, Nj 085502
  • Filer categoryAccelerated filer2

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Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

28.2%Gross margin3
5.6%Operating margin3
2.3%Net margin3
-0.8%Revenue growth, 20253
7.2%Return on equity3
0.70×Debt to equity3
$8.3MFree cash flow3

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Oil & Gas brought in 55% of the revenue Mistras Group, Inc. broke down this way in fiscal 2025.

  1. Oil & Gas$396.8M355%down 5% from 2024
  2. Aerospace and Defense$93.8M313%up 8% from 2024
  3. Industrials$80.7M311%up 13% from 2024
  4. Power Generation And Transmission$44.2M36%up 21% from 2024
  5. Other Process Industries$40.1M36%down 20% from 2024
  6. Infrastructure, Research and Engineering$37.5M35%up 13% from 2024
  7. Other Products and Services$17.7M32%up 5% from 2024
  8. Petrochemical$13.1M32%down 16% from 2024
Products and services by year
Products and services202320242025
Oil & Gas$416.0M$418.9M$396.8M
Aerospace and Defense$77.0M$87.0M$93.8M
Industrials$70.6M$71.7M$80.7M
Power Generation And Transmission$34.0M$36.5M$44.2M
Other Process Industries$47.6M$49.8M$40.1M
Infrastructure, Research and Engineering$29.1M$33.2M$37.5M
Other Products and Services$16.8M$16.9M$17.7M
Petrochemical$14.4M$15.6M$13.1M

Business segments

North America brought in 79% of the revenue Mistras Group, Inc. broke down this way in fiscal 2025.

  1. North America$584.1M379%down 2% from 2024
  2. International$143.8M319%up 6% from 2024
  3. Products and Systems$14.0M32%up 2% from 2024
Business segments by year
Business segments202320242025
North America$579.3M$593.5M$584.1M
International$124.4M$136.0M$143.8M
Products and Systems$13.0M$13.7M$14.0M

Regions

United States brought in 70% of the revenue Mistras Group, Inc. broke down this way in fiscal 2025.

  1. United States$509.4M370%up 0% from 2024
  2. Europe$133.7M318%up 10% from 2024
  3. Other Americas$70.9M310%down 21% from 2024
  4. Asia Pacific$10.0M31%down 13% from 2024
Regions by year
Regions202320242025
United States$500.3M$506.9M$509.4M
Europe$108.1M$121.2M$133.7M
Other Americas$86.9M$90.0M$70.9M
Asia Pacific$10.1M$11.5M$10.0M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Research and development0¢$1.0M
  • Selling, general and admin19¢$139.9M
  • Other costs77¢$560.7M
  • Income tax1¢$5.6M
  • Profit2¢$16.8M

Out of $724.0M in revenue.3

Where each dollar of operating cash went, fiscal 2025

  • Capital spending75¢$24.7M
  • Kept or used elsewhere25¢$8.3M

Out of $33.0M of cash from operations.3

Financial statements

Revenue45673$724.0M in 2025−3% since 2019
0$200.0M$400.0M$600.0M$800.0M2019: $748.6M$748.6M20192020: $592.6M$592.6M2020−21%2021: $677.1M$677.1M2021+14%2022: $687.4M$687.4M2022+2%2023: $705.5M$705.5M2023+3%2024: $729.6M$729.6M2024+3%2025: $724.0M$724.0M2025−1%
Gross profit45673$204.5M in 2025−6% since 2019
0$100.0M$200.0M$300.0M2019: $217.3M$217.3M20192020: $178.5M$178.5M2020−18%2021: $197.1M$197.1M2021+10%2022: $198.2M$198.2M2022+1%2023: $184.3M$184.3M2023−7%2024: $192.2M$192.2M2024+4%2025: $204.5M$204.5M2025+6%
Operating income45673$40.6M in 2025+68% since 2019
-$150.0M-$100.0M-$50.0M0$50.0M2019: $24.1M$24.1M20192020: -$101.2M-$101.2M20202021: $18.2M$18.2M20212022: $19.8M$19.8M2022+9%2023: -$1.9M-$1.9M20232024: $39.8M$39.8M20242025: $40.6M$40.6M2025+2%
Net income45673$16.8M in 2025+178% since 2019
-$100.0M-$50.0M0$50.0M2019: $6.1M$6.1M20192020: -$99.5M-$99.5M20202021: $3.9M$3.9M20212022: $6.5M$6.5M2022+68%2023: -$17.5M-$17.5M20232024: $19.0M$19.0M20242025: $16.8M$16.8M2025−11%

Every line of the income statement as filed: the last 3 fiscal years, latest first.3

Period ending2025-12-312024-12-312023-12-31
Revenue$724.0M$729.6M$705.5M
Cost of revenue$497.1M$513.9M$497.2M
Depreciation$22.4M$23.6M$24.0M
Gross profit$204.5M$192.2M$184.3M
Selling, general and administrative expenses$139.9M$135.5M$147.2M
Reorganization and other costs$12.7M$5.5M$12.3M
Environmental expense$1.7M$1.7M$0
Goodwill impairment charges$0$0$13.8M
Legal settlement and litigation charges (benefit), net$0-$808.0K$1.1M
Research and engineering$1.0M$1.1M$1.7M
Depreciation and amortization$8.6M$9.4M$10.1M
Income (loss) from operations$40.6M$39.8M-$1.9M
Other expense (income), net$3.5M-$1.5M$0
Interest expense$14.6M$17.1M$16.8M
Income (loss) before provision (benefit) for income taxes$22.5M$24.2M-$18.7M
Provision (benefit) for income taxes$5.6M$5.3M-$1.2M
Net income (loss)$16.9M$19.0M-$17.4M
Less: net income attributable to noncontrolling interests, net of taxes$84.0K$12.0K$8.0K
Net income (loss) attributable to Mistras Group, Inc.$16.8M$19.0M-$17.5M
Basic (in dollars per share)$0.54$0.61-$0.58
Diluted (in dollars per share)$0.53$0.60-$0.58
Basic (in shares)31.4M shares30.9M shares30.3M shares
Diluted (in shares)32.1M shares31.6M shares30.3M shares

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Leadership

Who has led Mistras Group, Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Sotirios J. Vahaviolos2009–2017
  2. Dennis Bertolotti2017–2023
  3. Manuel N. Stamatakis2023–2024
  4. Natalia Shuman-Fabbri2025–now

Chair

  1. Sotirios J. Vahaviolos2009–2023
  2. Manuel N. Stamatakis2025–now

President

  1. Sotirios J. Vahaviolos2009–2015
  2. Dennis Bertolotti2010–2023
  3. Manuel N. Stamatakis2023–2024
  4. Natalia Shuman-Fabbri2025–now

Chief financial officer

  1. Paul Peterik2009–2010
  2. Francis T. Joyce2010–2013
  3. Jonathan H. Wolk2013–2018
  4. Edward J. Prajzner2018–now

Chief operating officer

  1. Dennis Bertolotti2010–2017
  2. Jonathan H. Wolk2017–2023
  3. Hanei Wail Hammad2025–now
2010201520202025
Board members and other officers (24)

Timeline

  1. Jan 10, 2025New chief executive Natalia Shuman-Fabbri becomes CEO12
  2. Oct 13, 2023New chief executive Manuel N. Stamatakis becomes CEO13
  3. Aug 16, 2017New chief executive Dennis Bertolotti becomes CEO14
  4. Oct 7, 2009New chief executive Sotirios J. Vahaviolos becomes CEO15
  5. Oct 12, 1994Founded Mistras Group, Inc. is founded45

Filings

312 filings to the SEC since October 2021: 6 annual reports, 15 quarterly reports, 44 major events, 177 insider forms, 24 large holders, 46 other. The latest 20:

  1. Oct 15, 2026PREM14A EDGAR
  2. Oct 7, 20264/A EDGAR
  3. Oct 7, 2026SCHEDULE 13D/A EDGAR
  4. Sep 22, 20264 PRIMARY DOCUMENT EDGAR
  5. Sep 21, 2026SCHEDULE 13D/A EDGAR
  6. Sep 18, 20264 PRIMARY DOCUMENT EDGAR
  7. Sep 18, 2026SCHEDULE 13D/A EDGAR
  8. Sep 18, 2026DEFA14A EDGAR
  9. Sep 18, 2026DEFA14A EDGAR
  10. Sep 18, 2026DEFA14A EDGAR
  11. Sep 18, 2026DEFA14A EDGAR
  12. Sep 18, 2026DEFA14A EDGAR
  13. Sep 18, 2026DEFA14A EDGAR
  14. Sep 18, 2026DEFA14A EDGAR
  15. Sep 18, 20268-K EDGAR
  16. Sep 14, 20264 EDGAR
  17. Sep 14, 20264 EDGAR
  18. Sep 14, 2026SCHEDULE 13D/A EDGAR
  19. Sep 9, 20264 PRIMARY DOCUMENT EDGAR
  20. Aug 13, 2026SCHEDULE 13G/A EDGAR

The 312 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last three years, summarized. The full record is on SEC EDGAR.

Insider trades and holders

Large holders

Investors who own more than 5% must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively. 24 such filings since October 2021, the latest 10:

  1. Oct 7, 2026SCHEDULE 13D/A
  2. Sep 21, 2026SCHEDULE 13D/A
  3. Sep 18, 2026SCHEDULE 13D/A
  4. Sep 14, 2026SCHEDULE 13D/A
  5. Aug 13, 2026SCHEDULE 13G/A
  6. Jun 12, 2026SCHEDULE 13D/A
  7. Jun 4, 2026SCHEDULE 13D/A
  8. Apr 23, 2026SCHEDULE 13D/A
  9. Mar 31, 2026SCHEDULE 13G/A
  10. Mar 31, 2026SCHEDULE 13G

From Forms 4 and Schedules 13D and 13G filed with the SEC.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Mill Road Capital Management LLC1,929,509$33.7M16.6%+58,929
Dimensional Fund Advisors LP1,700,793$29.7M0.0%−2,888
Royce & Associates LP1,580,728$27.6M0.2%+47,676
Weber Capital Management LLC /adv1,448,154$25.3M21.5%−8,815
BlackRock, Inc.1,166,197$20.4M0.0%+306,745
IES Holdings, Inc.1,124,235$19.6M6.3%+3,690
First Eagle Investment Management, LLC1,107,710$19.4M0.0%+826,178
Vanguard Capital Management LLC1,052,512$18.4M0.0%+122,334
Federated Hermes, Inc.656,032$11.5M0.0%No change
Geode Capital Management, LLC510,059$8.9M0.0%+156,648
Deutsche Bank Ag\389,488$6.8M0.0%+10,034
State Street Corp385,924$6.7M0.0%+73,760
Bridgeway Capital Management, LLC354,371$6.2M0.1%No change
Pacific Ridge Capital Partners, LLC282,880$4.9M0.9%−2,394
Qube Research & Technologies Ltd275,749$4.8M0.0%+57,703
Clearline Capital LP267,460$4.7M0.3%−286,629
Essex Investment Management Co LLC257,127$4.5M0.6%−11,440
Algert Global LLC232,669$4.1M0.0%+53,379
Empowered Funds, LLC225,494$3.9M0.0%No change
Jb Capital Partners LP202,243$3.5M0.5%No change
Northern Trust Corp201,968$3.5M0.0%+42,217
O'shaughnessy Asset Management, LLC161,333$2.8M0.0%+26,165
Citadel Advisors LLC151,487$2.6M0.0%+25,253
Goldman Sachs Group Inc149,648$2.6M0.0%+18,272
Two Sigma Investments, LP149,357$2.6M0.0%−81,968

13F reports cover disclosed long positions in U.S. stocks only.

Sources

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