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Side-by-side financial comparison of Clearwater Paper Corp (CLW) and Mistras Group, Inc. (MG). Click either name above to swap in a different company.
Clearwater Paper Corp is the larger business by last-quarter revenue ($360.3M vs $181.5M, roughly 2.0× Mistras Group, Inc.). Mistras Group, Inc. runs the higher net margin — 2.1% vs -3.6%, a 5.6% gap on every dollar of revenue. On growth, Mistras Group, Inc. posted the faster year-over-year revenue change (5.1% vs -4.7%). Over the past eight quarters, Clearwater Paper Corp's revenue compounded faster (2.3% CAGR vs -0.8%).
Clearwater Paper Corporation is an American pulp and paperboard manufacturer. The company was created on December 9, 2008, via a spin-off from Potlatch Corporation and is headquartered in Spokane, Washington.
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.
CLW vs MG — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $360.3M | $181.5M |
| Net Profit | $-12.8M | $3.8M |
| Gross Margin | -0.2% | 28.4% |
| Operating Margin | — | 7.0% |
| Net Margin | -3.6% | 2.1% |
| Revenue YoY | -4.7% | 5.1% |
| Net Profit YoY | -103.2% | -27.4% |
| EPS (diluted) | — | $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 | $360.3M | — | ||
| Q4 25 | $386.4M | $181.5M | ||
| Q3 25 | $399.0M | $195.5M | ||
| Q2 25 | $391.8M | $185.4M | ||
| Q1 25 | $378.2M | $161.6M | ||
| Q4 24 | $387.1M | $172.7M | ||
| Q3 24 | $393.3M | $182.7M | ||
| Q2 24 | $344.4M | $189.8M |
| Q1 26 | $-12.8M | — | ||
| Q4 25 | $38.3M | $3.8M | ||
| Q3 25 | $-53.3M | $13.1M | ||
| Q2 25 | $2.7M | $3.0M | ||
| Q1 25 | $-6.3M | $-3.2M | ||
| Q4 24 | $199.1M | $5.2M | ||
| Q3 24 | $5.8M | $6.4M | ||
| Q2 24 | $-25.8M | $6.4M |
| Q1 26 | -0.2% | — | ||
| Q4 25 | 4.5% | 28.4% | ||
| Q3 25 | 4.7% | 29.8% | ||
| Q2 25 | 11.0% | 29.1% | ||
| Q1 25 | 9.7% | 25.3% | ||
| Q4 24 | 3.8% | 26.5% | ||
| Q3 24 | 7.7% | 26.8% | ||
| Q2 24 | -0.6% | 27.1% |
| Q1 26 | — | — | ||
| Q4 25 | 1.9% | 7.0% | ||
| Q3 25 | -13.9% | 10.4% | ||
| Q2 25 | 2.5% | 4.5% | ||
| Q1 25 | -1.1% | -0.6% | ||
| Q4 24 | -4.0% | 6.1% | ||
| Q3 24 | -0.3% | 6.5% | ||
| Q2 24 | -13.6% | 6.3% |
| Q1 26 | -3.6% | — | ||
| Q4 25 | 9.9% | 2.1% | ||
| Q3 25 | -13.4% | 6.7% | ||
| Q2 25 | 0.7% | 1.6% | ||
| Q1 25 | -1.7% | -2.0% | ||
| Q4 24 | 51.4% | 3.0% | ||
| Q3 24 | 1.5% | 3.5% | ||
| Q2 24 | -7.5% | 3.4% |
| Q1 26 | — | — | ||
| Q4 25 | $2.36 | $0.12 | ||
| Q3 25 | $-3.30 | $0.41 | ||
| Q2 25 | $0.17 | $0.10 | ||
| Q1 25 | $-0.38 | $-0.10 | ||
| Q4 24 | $11.87 | $0.17 | ||
| Q3 24 | $0.35 | $0.20 | ||
| Q2 24 | $-1.55 | $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 | $36.5M | $28.0M |
| Total DebtLower is stronger | $361.1M | $178.0M |
| Stockholders' EquityBook value | $813.8M | $235.1M |
| Total Assets | $1.6B | $578.8M |
| Debt / EquityLower = less leverage | 0.44× | 0.76× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $36.5M | — | ||
| Q4 25 | $30.7M | $28.0M | ||
| Q3 25 | $34.4M | $27.8M | ||
| Q2 25 | $46.7M | $20.0M | ||
| Q1 25 | $44.0M | $18.5M | ||
| Q4 24 | $79.6M | $18.3M | ||
| Q3 24 | $35.5M | $20.4M | ||
| Q2 24 | $39.6M | $17.2M |
| Q1 26 | $361.1M | — | ||
| Q4 25 | $346.8M | $178.0M | ||
| Q3 25 | $337.0M | $202.3M | ||
| Q2 25 | $330.1M | $189.4M | ||
| Q1 25 | — | $171.9M | ||
| Q4 24 | $283.4M | $169.6M | ||
| Q3 24 | $1.2B | $189.7M | ||
| Q2 24 | $1.1B | $199.7M |
| Q1 26 | $813.8M | — | ||
| Q4 25 | $825.3M | $235.1M | ||
| Q3 25 | $783.0M | $227.4M | ||
| Q2 25 | $836.8M | $215.8M | ||
| Q1 25 | $836.6M | $198.7M | ||
| Q4 24 | $854.6M | $198.6M | ||
| Q3 24 | $664.6M | $205.2M | ||
| Q2 24 | $658.6M | $193.2M |
| Q1 26 | $1.6B | — | ||
| Q4 25 | $1.6B | $578.8M | ||
| Q3 25 | $1.6B | $596.3M | ||
| Q2 25 | $1.6B | $571.0M | ||
| Q1 25 | $1.6B | $526.8M | ||
| Q4 24 | $1.7B | $523.0M | ||
| Q3 24 | $2.5B | $551.7M | ||
| Q2 24 | $2.5B | $548.1M |
| Q1 26 | 0.44× | — | ||
| Q4 25 | 0.42× | 0.76× | ||
| Q3 25 | 0.43× | 0.89× | ||
| Q2 25 | 0.39× | 0.88× | ||
| Q1 25 | — | 0.87× | ||
| Q4 24 | 0.33× | 0.85× | ||
| Q3 24 | 1.73× | 0.92× | ||
| Q2 24 | 1.74× | 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 | — | $32.1M |
| Free Cash FlowOCF − Capex | — | $26.0M |
| FCF MarginFCF / Revenue | — | 14.3% |
| Capex IntensityCapex / Revenue | — | 3.4% |
| Cash ConversionOCF / Net Profit | — | 8.55× |
| TTM Free Cash FlowTrailing 4 quarters | — | $8.3M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $5.0M | $32.1M | ||
| Q3 25 | $34.0M | $4.5M | ||
| Q2 25 | $-28.2M | $-9.3M | ||
| Q1 25 | $1.5M | $5.6M | ||
| Q4 24 | $-35.1M | $25.7M | ||
| Q3 24 | $16.2M | $19.4M | ||
| Q2 24 | $21.1M | $4.5M |
| Q1 26 | — | — | ||
| Q4 25 | $-9.9M | $26.0M | ||
| Q3 25 | $15.7M | $-4.1M | ||
| Q2 25 | $-51.1M | $-14.7M | ||
| Q1 25 | $-31.2M | $1.1M | ||
| Q4 24 | $-68.1M | $22.1M | ||
| Q3 24 | $-30.8M | $14.6M | ||
| Q2 24 | $3.0M | $-284.0K |
| Q1 26 | — | — | ||
| Q4 25 | -2.6% | 14.3% | ||
| Q3 25 | 3.9% | -2.1% | ||
| Q2 25 | -13.0% | -7.9% | ||
| Q1 25 | -8.2% | 0.7% | ||
| Q4 24 | -17.6% | 12.8% | ||
| Q3 24 | -7.8% | 8.0% | ||
| Q2 24 | 0.9% | -0.1% |
| Q1 26 | — | — | ||
| Q4 25 | 3.9% | 3.4% | ||
| Q3 25 | 4.6% | 4.4% | ||
| Q2 25 | 5.8% | 2.9% | ||
| Q1 25 | 8.6% | 2.8% | ||
| Q4 24 | 8.5% | 2.1% | ||
| Q3 24 | 12.0% | 2.6% | ||
| Q2 24 | 5.3% | 2.5% |
| Q1 26 | — | — | ||
| Q4 25 | 0.13× | 8.55× | ||
| Q3 25 | — | 0.34× | ||
| Q2 25 | -10.44× | -3.07× | ||
| Q1 25 | — | — | ||
| Q4 24 | -0.18× | 4.96× | ||
| Q3 24 | 2.79× | 3.02× | ||
| Q2 24 | — | 0.71× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
