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Side-by-side financial comparison of H2O AMERICA (HTO) and Mistras Group, Inc. (MG). Click either name above to swap in a different company.
H2O AMERICA is the larger business by last-quarter revenue ($199.4M vs $181.5M, roughly 1.1× Mistras Group, Inc.). H2O AMERICA runs the higher net margin — 8.1% vs 2.1%, a 6.1% gap on every dollar of revenue. On growth, Mistras Group, Inc. posted the faster year-over-year revenue change (5.1% vs 1.5%). Over the past eight quarters, H2O AMERICA's revenue compounded faster (15.3% CAGR vs -0.8%).
H2O Wireless is a United States-based prepaid cell phone service, that utilizes the AT&T network. It is a brand of the mobile virtual network operator (MVNO) Locus Telecommunications, a subsidiary of Telrite Holdings, Inc., since 2019. Locus was formerly a subsidiary of KDDI America corporation, starting in 2010. H2O Wireless is primarily advertised as a non-restrictive phone service for customers to bring or buy unlocked smartphones, although AT&T contract/locked phones may be accepted as well.
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.
HTO vs MG — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $199.4M | $181.5M |
| Net Profit | $16.2M | $3.8M |
| Gross Margin | — | 28.4% |
| Operating Margin | 16.6% | 7.0% |
| Net Margin | 8.1% | 2.1% |
| Revenue YoY | 1.5% | 5.1% |
| Net Profit YoY | -29.2% | -27.4% |
| EPS (diluted) | $0.45 | $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 | $199.4M | $181.5M | ||
| Q3 25 | $243.5M | $195.5M | ||
| Q2 25 | $197.8M | $185.4M | ||
| Q1 25 | $164.9M | $161.6M | ||
| Q4 24 | $196.5M | $172.7M | ||
| Q3 24 | $216.7M | $182.7M | ||
| Q2 24 | $173.1M | $189.8M | ||
| Q1 24 | $150.0M | $184.4M |
| Q4 25 | $16.2M | $3.8M | ||
| Q3 25 | $45.1M | $13.1M | ||
| Q2 25 | $24.7M | $3.0M | ||
| Q1 25 | $16.6M | $-3.2M | ||
| Q4 24 | $22.9M | $5.2M | ||
| Q3 24 | $38.7M | $6.4M | ||
| Q2 24 | $20.7M | $6.4M | ||
| Q1 24 | $11.7M | $995.0K |
| Q4 25 | — | 28.4% | ||
| Q3 25 | — | 29.8% | ||
| Q2 25 | — | 29.1% | ||
| Q1 25 | — | 25.3% | ||
| Q4 24 | — | 26.5% | ||
| Q3 24 | — | 26.8% | ||
| Q2 24 | — | 27.1% | ||
| Q1 24 | — | 25.0% |
| Q4 25 | 16.6% | 7.0% | ||
| Q3 25 | 26.5% | 10.4% | ||
| Q2 25 | 22.2% | 4.5% | ||
| Q1 25 | 21.8% | -0.6% | ||
| Q4 24 | 22.2% | 6.1% | ||
| Q3 24 | 26.9% | 6.5% | ||
| Q2 24 | 23.4% | 6.3% | ||
| Q1 24 | 18.6% | 3.0% |
| Q4 25 | 8.1% | 2.1% | ||
| Q3 25 | 18.5% | 6.7% | ||
| Q2 25 | 12.5% | 1.6% | ||
| Q1 25 | 10.0% | -2.0% | ||
| Q4 24 | 11.7% | 3.0% | ||
| Q3 24 | 17.8% | 3.5% | ||
| Q2 24 | 12.0% | 3.4% | ||
| Q1 24 | 7.8% | 0.5% |
| Q4 25 | $0.45 | $0.12 | ||
| Q3 25 | $1.27 | $0.41 | ||
| Q2 25 | $0.71 | $0.10 | ||
| Q1 25 | $0.49 | $-0.10 | ||
| Q4 24 | $0.70 | $0.17 | ||
| Q3 24 | $1.17 | $0.20 | ||
| Q2 24 | $0.64 | $0.20 | ||
| Q1 24 | $0.36 | $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 | $20.7M | $28.0M |
| Total DebtLower is stronger | $1.9B | $178.0M |
| Stockholders' EquityBook value | $1.5B | $235.1M |
| Total Assets | $5.1B | $578.8M |
| Debt / EquityLower = less leverage | 1.23× | 0.76× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $20.7M | $28.0M | ||
| Q3 25 | $11.3M | $27.8M | ||
| Q2 25 | $19.8M | $20.0M | ||
| Q1 25 | $23.7M | $18.5M | ||
| Q4 24 | $11.1M | $18.3M | ||
| Q3 24 | $4.0M | $20.4M | ||
| Q2 24 | $22.8M | $17.2M | ||
| Q1 24 | $4.5M | $16.9M |
| Q4 25 | $1.9B | $178.0M | ||
| Q3 25 | — | $202.3M | ||
| Q2 25 | — | $189.4M | ||
| Q1 25 | — | $171.9M | ||
| Q4 24 | $1.7B | $169.6M | ||
| Q3 24 | — | $189.7M | ||
| Q2 24 | — | $199.7M | ||
| Q1 24 | — | $198.4M |
| Q4 25 | $1.5B | $235.1M | ||
| Q3 25 | $1.5B | $227.4M | ||
| Q2 25 | $1.5B | $215.8M | ||
| Q1 25 | $1.4B | $198.7M | ||
| Q4 24 | $1.4B | $198.6M | ||
| Q3 24 | $1.3B | $205.2M | ||
| Q2 24 | $1.3B | $193.2M | ||
| Q1 24 | $1.2B | $187.1M |
| Q4 25 | $5.1B | $578.8M | ||
| Q3 25 | $5.0B | $596.3M | ||
| Q2 25 | $4.8B | $571.0M | ||
| Q1 25 | $4.7B | $526.8M | ||
| Q4 24 | $4.7B | $523.0M | ||
| Q3 24 | $4.6B | $551.7M | ||
| Q2 24 | $4.4B | $548.1M | ||
| Q1 24 | $4.4B | $542.1M |
| Q4 25 | 1.23× | 0.76× | ||
| Q3 25 | — | 0.89× | ||
| Q2 25 | — | 0.88× | ||
| Q1 25 | — | 0.87× | ||
| Q4 24 | 1.26× | 0.85× | ||
| Q3 24 | — | 0.92× | ||
| Q2 24 | — | 1.03× | ||
| Q1 24 | — | 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 | $63.5M | $32.1M |
| Free Cash FlowOCF − Capex | — | $26.0M |
| FCF MarginFCF / Revenue | — | 14.3% |
| Capex IntensityCapex / Revenue | — | 3.4% |
| Cash ConversionOCF / Net Profit | 3.92× | 8.55× |
| TTM Free Cash FlowTrailing 4 quarters | — | $8.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $63.5M | $32.1M | ||
| Q3 25 | $77.3M | $4.5M | ||
| Q2 25 | $60.8M | $-9.3M | ||
| Q1 25 | $43.2M | $5.6M | ||
| Q4 24 | $41.5M | $25.7M | ||
| Q3 24 | $53.5M | $19.4M | ||
| Q2 24 | $49.3M | $4.5M | ||
| Q1 24 | $51.2M | $604.0K |
| 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 24 | — | $-4.2M |
| 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 24 | — | -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 24 | — | 2.6% |
| Q4 25 | 3.92× | 8.55× | ||
| Q3 25 | 1.71× | 0.34× | ||
| Q2 25 | 2.47× | -3.07× | ||
| Q1 25 | 2.61× | — | ||
| Q4 24 | 1.81× | 4.96× | ||
| Q3 24 | 1.39× | 3.02× | ||
| Q2 24 | 2.38× | 0.71× | ||
| Q1 24 | 4.38× | 0.61× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HTO
| Water Utility Services | $191.0M | 96% |
| Other | $8.4M | 4% |
MG
Segment breakdown not available.
