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Side-by-side financial comparison of BALCHEM CORP (BCPC) and Mistras Group, Inc. (MG). Click either name above to swap in a different company.
BALCHEM CORP is the larger business by last-quarter revenue ($270.7M vs $181.5M, roughly 1.5× Mistras Group, Inc.). BALCHEM CORP runs the higher net margin — 14.9% vs 2.1%, a 12.8% gap on every dollar of revenue. On growth, BALCHEM CORP posted the faster year-over-year revenue change (8.1% vs 5.1%). BALCHEM CORP produced more free cash flow last quarter ($33.8M vs $26.0M). Over the past eight quarters, BALCHEM CORP's revenue compounded faster (7.5% CAGR vs -0.8%).
Balchem Corp is a global specialty chemicals and nutritional ingredients provider that develops, manufactures and distributes application-specific products for human nutrition, animal health, pharmaceutical and industrial end markets, serving customers across North America, Europe and Asia Pacific.
Mistras Group, Inc. is a global provider of asset integrity and protection solutions, offering non-destructive testing, inspection, real-time monitoring, and engineering consulting services. Its key client segments include oil and gas, aerospace, power generation, and manufacturing industries, with operations spanning North America, Europe, and Asia-Pacific, helping clients enhance operational safety, extend asset lifespans, and minimize unplanned downtime.
BCPC vs MG — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $270.7M | $181.5M |
| Net Profit | $40.3M | $3.8M |
| Gross Margin | — | 28.4% |
| Operating Margin | 20.5% | 7.0% |
| Net Margin | 14.9% | 2.1% |
| Revenue YoY | 8.1% | 5.1% |
| Net Profit YoY | 8.7% | -27.4% |
| EPS (diluted) | $1.25 | $0.12 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $270.7M | — | ||
| Q4 25 | $263.6M | $181.5M | ||
| Q3 25 | $267.6M | $195.5M | ||
| Q2 25 | $255.5M | $185.4M | ||
| Q1 25 | $250.5M | $161.6M | ||
| Q4 24 | $240.0M | $172.7M | ||
| Q3 24 | $239.9M | $182.7M | ||
| Q2 24 | $234.1M | $189.8M |
| Q1 26 | $40.3M | — | ||
| Q4 25 | $39.2M | $3.8M | ||
| Q3 25 | $40.3M | $13.1M | ||
| Q2 25 | $38.3M | $3.0M | ||
| Q1 25 | $37.1M | $-3.2M | ||
| Q4 24 | $33.6M | $5.2M | ||
| Q3 24 | $33.8M | $6.4M | ||
| Q2 24 | $32.1M | $6.4M |
| Q1 26 | — | — | ||
| Q4 25 | 35.6% | 28.4% | ||
| Q3 25 | 35.7% | 29.8% | ||
| Q2 25 | 36.4% | 29.1% | ||
| Q1 25 | 35.2% | 25.3% | ||
| Q4 24 | 36.0% | 26.5% | ||
| Q3 24 | 35.6% | 26.8% | ||
| Q2 24 | 35.5% | 27.1% |
| Q1 26 | 20.5% | — | ||
| Q4 25 | 19.8% | 7.0% | ||
| Q3 25 | 20.4% | 10.4% | ||
| Q2 25 | 20.1% | 4.5% | ||
| Q1 25 | 20.4% | -0.6% | ||
| Q4 24 | 19.8% | 6.1% | ||
| Q3 24 | 20.0% | 6.5% | ||
| Q2 24 | 19.6% | 6.3% |
| Q1 26 | 14.9% | — | ||
| Q4 25 | 14.9% | 2.1% | ||
| Q3 25 | 15.1% | 6.7% | ||
| Q2 25 | 15.0% | 1.6% | ||
| Q1 25 | 14.8% | -2.0% | ||
| Q4 24 | 14.0% | 3.0% | ||
| Q3 24 | 14.1% | 3.5% | ||
| Q2 24 | 13.7% | 3.4% |
| Q1 26 | $1.25 | — | ||
| Q4 25 | $1.21 | $0.12 | ||
| Q3 25 | $1.24 | $0.41 | ||
| Q2 25 | $1.17 | $0.10 | ||
| Q1 25 | $1.13 | $-0.10 | ||
| Q4 24 | $1.03 | $0.17 | ||
| Q3 24 | $1.03 | $0.20 | ||
| Q2 24 | $0.98 | $0.20 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $72.9M | $28.0M |
| Total DebtLower is stronger | — | $178.0M |
| Stockholders' EquityBook value | $1.3B | $235.1M |
| Total Assets | $1.7B | $578.8M |
| Debt / EquityLower = less leverage | — | 0.76× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $72.9M | — | ||
| Q4 25 | $74.6M | $28.0M | ||
| Q3 25 | $65.1M | $27.8M | ||
| Q2 25 | $65.4M | $20.0M | ||
| Q1 25 | $49.9M | $18.5M | ||
| Q4 24 | $49.5M | $18.3M | ||
| Q3 24 | $73.7M | $20.4M | ||
| Q2 24 | $63.7M | $17.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | $178.0M | ||
| Q3 25 | — | $202.3M | ||
| Q2 25 | — | $189.4M | ||
| Q1 25 | — | $171.9M | ||
| Q4 24 | — | $169.6M | ||
| Q3 24 | — | $189.7M | ||
| Q2 24 | — | $199.7M |
| Q1 26 | $1.3B | — | ||
| Q4 25 | $1.3B | $235.1M | ||
| Q3 25 | $1.3B | $227.4M | ||
| Q2 25 | $1.3B | $215.8M | ||
| Q1 25 | $1.2B | $198.7M | ||
| Q4 24 | $1.1B | $198.6M | ||
| Q3 24 | $1.2B | $205.2M | ||
| Q2 24 | $1.1B | $193.2M |
| Q1 26 | $1.7B | — | ||
| Q4 25 | $1.7B | $578.8M | ||
| Q3 25 | $1.7B | $596.3M | ||
| Q2 25 | $1.7B | $571.0M | ||
| Q1 25 | $1.6B | $526.8M | ||
| Q4 24 | $1.6B | $523.0M | ||
| Q3 24 | $1.6B | $551.7M | ||
| Q2 24 | $1.6B | $548.1M |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.76× | ||
| Q3 25 | — | 0.89× | ||
| Q2 25 | — | 0.88× | ||
| Q1 25 | — | 0.87× | ||
| Q4 24 | — | 0.85× | ||
| Q3 24 | — | 0.92× | ||
| Q2 24 | — | 1.03× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $40.1M | $32.1M |
| Free Cash FlowOCF − Capex | $33.8M | $26.0M |
| FCF MarginFCF / Revenue | 12.5% | 14.3% |
| Capex IntensityCapex / Revenue | 2.3% | 3.4% |
| Cash ConversionOCF / Net Profit | 0.99× | 8.55× |
| TTM Free Cash FlowTrailing 4 quarters | — | $8.3M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $40.1M | — | ||
| Q4 25 | $67.3M | $32.1M | ||
| Q3 25 | $65.6M | $4.5M | ||
| Q2 25 | $47.3M | $-9.3M | ||
| Q1 25 | $36.5M | $5.6M | ||
| Q4 24 | $52.3M | $25.7M | ||
| Q3 24 | $51.3M | $19.4M | ||
| Q2 24 | $45.0M | $4.5M |
| Q1 26 | $33.8M | — | ||
| Q4 25 | — | $26.0M | ||
| Q3 25 | — | $-4.1M | ||
| Q2 25 | — | $-14.7M | ||
| Q1 25 | — | $1.1M | ||
| Q4 24 | — | $22.1M | ||
| Q3 24 | — | $14.6M | ||
| Q2 24 | — | $-284.0K |
| Q1 26 | 12.5% | — | ||
| Q4 25 | — | 14.3% | ||
| Q3 25 | — | -2.1% | ||
| Q2 25 | — | -7.9% | ||
| Q1 25 | — | 0.7% | ||
| Q4 24 | — | 12.8% | ||
| Q3 24 | — | 8.0% | ||
| Q2 24 | — | -0.1% |
| Q1 26 | 2.3% | — | ||
| Q4 25 | — | 3.4% | ||
| Q3 25 | — | 4.4% | ||
| Q2 25 | — | 2.9% | ||
| Q1 25 | — | 2.8% | ||
| Q4 24 | — | 2.1% | ||
| Q3 24 | — | 2.6% | ||
| Q2 24 | — | 2.5% |
| Q1 26 | 0.99× | — | ||
| Q4 25 | 1.72× | 8.55× | ||
| Q3 25 | 1.63× | 0.34× | ||
| Q2 25 | 1.23× | -3.07× | ||
| Q1 25 | 0.98× | — | ||
| Q4 24 | 1.56× | 4.96× | ||
| Q3 24 | 1.52× | 3.02× | ||
| Q2 24 | 1.40× | 0.71× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
