vs
Side-by-side financial comparison of CSW INDUSTRIALS, INC. (CSW) and Mistras Group, Inc. (MG). Click either name above to swap in a different company.
CSW INDUSTRIALS, INC. is the larger business by last-quarter revenue ($233.0M vs $181.5M, roughly 1.3× Mistras Group, Inc.). CSW INDUSTRIALS, INC. runs the higher net margin — 4.4% vs 2.1%, a 2.3% gap on every dollar of revenue. On growth, CSW INDUSTRIALS, INC. posted the faster year-over-year revenue change (20.3% vs 5.1%). Mistras Group, Inc. produced more free cash flow last quarter ($26.0M vs $22.7M). Over the past eight quarters, CSW INDUSTRIALS, INC.'s revenue compounded faster (5.1% CAGR vs -0.8%).
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.
CSW vs MG — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $233.0M | $181.5M |
| Net Profit | $10.3M | $3.8M |
| Gross Margin | 39.7% | 28.4% |
| Operating Margin | 7.4% | 7.0% |
| Net Margin | 4.4% | 2.1% |
| Revenue YoY | 20.3% | 5.1% |
| Net Profit YoY | -61.9% | -27.4% |
| EPS (diluted) | $0.62 | $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.
| Q4 25 | $233.0M | $181.5M | ||
| Q3 25 | $277.0M | $195.5M | ||
| Q2 25 | $263.6M | $185.4M | ||
| Q1 25 | $230.5M | $161.6M | ||
| Q4 24 | $193.6M | $172.7M | ||
| Q3 24 | $227.9M | $182.7M | ||
| Q2 24 | $226.2M | $189.8M | ||
| Q1 24 | $210.9M | $184.4M |
| Q4 25 | $10.3M | $3.8M | ||
| Q3 25 | $40.7M | $13.1M | ||
| Q2 25 | $40.9M | $3.0M | ||
| Q1 25 | $35.1M | $-3.2M | ||
| Q4 24 | $26.9M | $5.2M | ||
| Q3 24 | $36.1M | $6.4M | ||
| Q2 24 | $38.6M | $6.4M | ||
| Q1 24 | $31.8M | $995.0K |
| Q4 25 | 39.7% | 28.4% | ||
| Q3 25 | 43.0% | 29.8% | ||
| Q2 25 | 43.8% | 29.1% | ||
| Q1 25 | 44.2% | 25.3% | ||
| Q4 24 | 41.4% | 26.5% | ||
| Q3 24 | 45.6% | 26.8% | ||
| Q2 24 | 47.5% | 27.1% | ||
| Q1 24 | 44.4% | 25.0% |
| Q4 25 | 7.4% | 7.0% | ||
| Q3 25 | 20.5% | 10.4% | ||
| Q2 25 | 20.8% | 4.5% | ||
| Q1 25 | 19.5% | -0.6% | ||
| Q4 24 | 15.3% | 6.1% | ||
| Q3 24 | 22.6% | 6.5% | ||
| Q2 24 | 24.3% | 6.3% | ||
| Q1 24 | 21.0% | 3.0% |
| Q4 25 | 4.4% | 2.1% | ||
| Q3 25 | 14.7% | 6.7% | ||
| Q2 25 | 15.5% | 1.6% | ||
| Q1 25 | 15.2% | -2.0% | ||
| Q4 24 | 13.9% | 3.0% | ||
| Q3 24 | 15.8% | 3.5% | ||
| Q2 24 | 17.1% | 3.4% | ||
| Q1 24 | 15.1% | 0.5% |
| Q4 25 | $0.62 | $0.12 | ||
| Q3 25 | $2.41 | $0.41 | ||
| Q2 25 | $2.43 | $0.10 | ||
| Q1 25 | $2.05 | $-0.10 | ||
| Q4 24 | $1.60 | $0.17 | ||
| Q3 24 | $2.26 | $0.20 | ||
| Q2 24 | $2.47 | $0.20 | ||
| Q1 24 | $2.03 | $0.03 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $40.2M | $28.0M |
| Total DebtLower is stronger | — | $178.0M |
| Stockholders' EquityBook value | $1.1B | $235.1M |
| Total Assets | $2.3B | $578.8M |
| Debt / EquityLower = less leverage | — | 0.76× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $40.2M | $28.0M | ||
| Q3 25 | $31.5M | $27.8M | ||
| Q2 25 | $38.0M | $20.0M | ||
| Q1 25 | $225.8M | $18.5M | ||
| Q4 24 | $213.8M | $18.3M | ||
| Q3 24 | $273.2M | $20.4M | ||
| Q2 24 | $18.9M | $17.2M | ||
| Q1 24 | $22.2M | $16.9M |
| Q4 25 | — | $178.0M | ||
| Q3 25 | — | $202.3M | ||
| Q2 25 | — | $189.4M | ||
| Q1 25 | $800.1M | $171.9M | ||
| Q4 24 | — | $169.6M | ||
| Q3 24 | — | $189.7M | ||
| Q2 24 | — | $199.7M | ||
| Q1 24 | $166.0M | $198.4M |
| Q4 25 | $1.1B | $235.1M | ||
| Q3 25 | $1.1B | $227.4M | ||
| Q2 25 | $1.1B | $215.8M | ||
| Q1 25 | $1.1B | $198.7M | ||
| Q4 24 | $1.0B | $198.6M | ||
| Q3 24 | $1.0B | $205.2M | ||
| Q2 24 | $650.2M | $193.2M | ||
| Q1 24 | $615.7M | $187.1M |
| Q4 25 | $2.3B | $578.8M | ||
| Q3 25 | $1.5B | $596.3M | ||
| Q2 25 | $1.5B | $571.0M | ||
| Q1 25 | $1.4B | $526.8M | ||
| Q4 24 | $1.4B | $523.0M | ||
| Q3 24 | $1.4B | $551.7M | ||
| Q2 24 | $1.1B | $548.1M | ||
| Q1 24 | $1.0B | $542.1M |
| Q4 25 | — | 0.76× | ||
| Q3 25 | — | 0.89× | ||
| Q2 25 | — | 0.88× | ||
| Q1 25 | 0.75× | 0.87× | ||
| Q4 24 | — | 0.85× | ||
| Q3 24 | — | 0.92× | ||
| Q2 24 | — | 1.03× | ||
| Q1 24 | 0.27× | 1.06× |
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 | $28.9M | $32.1M |
| Free Cash FlowOCF − Capex | $22.7M | $26.0M |
| FCF MarginFCF / Revenue | 9.8% | 14.3% |
| Capex IntensityCapex / Revenue | 2.6% | 3.4% |
| Cash ConversionOCF / Net Profit | 2.81× | 8.55× |
| TTM Free Cash FlowTrailing 4 quarters | $162.0M | $8.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $28.9M | $32.1M | ||
| Q3 25 | $61.8M | $4.5M | ||
| Q2 25 | $60.6M | $-9.3M | ||
| Q1 25 | $27.3M | $5.6M | ||
| Q4 24 | $11.6M | $25.7M | ||
| Q3 24 | $66.8M | $19.4M | ||
| Q2 24 | $62.7M | $4.5M | ||
| Q1 24 | $22.4M | $604.0K |
| Q4 25 | $22.7M | $26.0M | ||
| Q3 25 | $58.7M | $-4.1M | ||
| Q2 25 | $57.7M | $-14.7M | ||
| Q1 25 | $22.8M | $1.1M | ||
| Q4 24 | $8.5M | $22.1M | ||
| Q3 24 | $61.3M | $14.6M | ||
| Q2 24 | $59.6M | $-284.0K | ||
| Q1 24 | $17.5M | $-4.2M |
| Q4 25 | 9.8% | 14.3% | ||
| Q3 25 | 21.2% | -2.1% | ||
| Q2 25 | 21.9% | -7.9% | ||
| Q1 25 | 9.9% | 0.7% | ||
| Q4 24 | 4.4% | 12.8% | ||
| Q3 24 | 26.9% | 8.0% | ||
| Q2 24 | 26.3% | -0.1% | ||
| Q1 24 | 8.3% | -2.3% |
| Q4 25 | 2.6% | 3.4% | ||
| Q3 25 | 1.1% | 4.4% | ||
| Q2 25 | 1.1% | 2.9% | ||
| Q1 25 | 2.0% | 2.8% | ||
| Q4 24 | 1.6% | 2.1% | ||
| Q3 24 | 2.4% | 2.6% | ||
| Q2 24 | 1.4% | 2.5% | ||
| Q1 24 | 2.3% | 2.6% |
| Q4 25 | 2.81× | 8.55× | ||
| Q3 25 | 1.52× | 0.34× | ||
| Q2 25 | 1.48× | -3.07× | ||
| Q1 25 | 0.78× | — | ||
| Q4 24 | 0.43× | 4.96× | ||
| Q3 24 | 1.85× | 3.02× | ||
| Q2 24 | 1.62× | 0.71× | ||
| Q1 24 | 0.71× | 0.61× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CSW
| Contractor Solutions Segment | $166.3M | 71% |
| Specialized Reliability Solutions Segment | $38.2M | 16% |
| Engineered Building Solutions Segment | $28.5M | 12% |
MG
Segment breakdown not available.
