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Side-by-side financial comparison of INSTEEL INDUSTRIES INC (IIIN) and Mistras Group, Inc. (MG). Click either name above to swap in a different company.
Mistras Group, Inc. is the larger business by last-quarter revenue ($181.5M vs $159.9M, roughly 1.1× INSTEEL INDUSTRIES INC). INSTEEL INDUSTRIES INC runs the higher net margin — 4.7% vs 2.1%, a 2.7% gap on every dollar of revenue. On growth, INSTEEL INDUSTRIES INC posted the faster year-over-year revenue change (23.3% vs 5.1%). Mistras Group, Inc. produced more free cash flow last quarter ($26.0M vs $-2.2M). Over the past eight quarters, INSTEEL INDUSTRIES INC's revenue compounded faster (12.0% CAGR vs -0.8%).
Insteel Industries Inc is a leading U.S. manufacturer of steel reinforcing products including welded wire reinforcement and steel fibers. It primarily serves non-residential construction, infrastructure, and precast concrete segments across North America, delivering high-performance reinforcement solutions for various construction projects.
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.
IIIN vs MG — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $159.9M | $181.5M |
| Net Profit | $7.6M | $3.8M |
| Gross Margin | 11.3% | 28.4% |
| Operating Margin | 6.0% | 7.0% |
| Net Margin | 4.7% | 2.1% |
| Revenue YoY | 23.3% | 5.1% |
| Net Profit YoY | 602.4% | -27.4% |
| EPS (diluted) | $0.39 | $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 | $159.9M | $181.5M | ||
| Q3 25 | $177.4M | $195.5M | ||
| Q2 25 | $179.9M | $185.4M | ||
| Q1 25 | $160.7M | $161.6M | ||
| Q4 24 | $129.7M | $172.7M | ||
| Q3 24 | $134.3M | $182.7M | ||
| Q2 24 | $145.8M | $189.8M | ||
| Q1 24 | $127.4M | $184.4M |
| Q4 25 | $7.6M | $3.8M | ||
| Q3 25 | $14.6M | $13.1M | ||
| Q2 25 | $15.2M | $3.0M | ||
| Q1 25 | $10.2M | $-3.2M | ||
| Q4 24 | $1.1M | $5.2M | ||
| Q3 24 | $4.7M | $6.4M | ||
| Q2 24 | $6.6M | $6.4M | ||
| Q1 24 | $6.9M | $995.0K |
| Q4 25 | 11.3% | 28.4% | ||
| Q3 25 | 16.1% | 29.8% | ||
| Q2 25 | 17.1% | 29.1% | ||
| Q1 25 | 15.3% | 25.3% | ||
| Q4 24 | 7.3% | 26.5% | ||
| Q3 24 | 9.1% | 26.8% | ||
| Q2 24 | 10.6% | 27.1% | ||
| Q1 24 | 12.3% | 25.0% |
| Q4 25 | 6.0% | 7.0% | ||
| Q3 25 | 10.8% | 10.4% | ||
| Q2 25 | 11.0% | 4.5% | ||
| Q1 25 | 8.3% | -0.6% | ||
| Q4 24 | 1.1% | 6.1% | ||
| Q3 24 | 4.5% | 6.5% | ||
| Q2 24 | 6.0% | 6.3% | ||
| Q1 24 | 7.0% | 3.0% |
| Q4 25 | 4.7% | 2.1% | ||
| Q3 25 | 8.2% | 6.7% | ||
| Q2 25 | 8.4% | 1.6% | ||
| Q1 25 | 6.4% | -2.0% | ||
| Q4 24 | 0.8% | 3.0% | ||
| Q3 24 | 3.5% | 3.5% | ||
| Q2 24 | 4.5% | 3.4% | ||
| Q1 24 | 5.4% | 0.5% |
| Q4 25 | $0.39 | $0.12 | ||
| Q3 25 | $0.74 | $0.41 | ||
| Q2 25 | $0.78 | $0.10 | ||
| Q1 25 | $0.52 | $-0.10 | ||
| Q4 24 | $0.06 | $0.17 | ||
| Q3 24 | $0.24 | $0.20 | ||
| Q2 24 | $0.34 | $0.20 | ||
| Q1 24 | $0.35 | $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 | $15.6M | $28.0M |
| Total DebtLower is stronger | — | $178.0M |
| Stockholders' EquityBook value | $358.8M | $235.1M |
| Total Assets | $456.1M | $578.8M |
| Debt / EquityLower = less leverage | — | 0.76× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $15.6M | $28.0M | ||
| Q3 25 | $38.6M | $27.8M | ||
| Q2 25 | $53.7M | $20.0M | ||
| Q1 25 | $28.4M | $18.5M | ||
| Q4 24 | $36.0M | $18.3M | ||
| Q3 24 | $111.5M | $20.4M | ||
| Q2 24 | $97.7M | $17.2M | ||
| Q1 24 | $83.9M | $16.9M |
| 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 24 | — | $198.4M |
| Q4 25 | $358.8M | $235.1M | ||
| Q3 25 | $371.5M | $227.4M | ||
| Q2 25 | $356.2M | $215.8M | ||
| Q1 25 | $341.4M | $198.7M | ||
| Q4 24 | $331.6M | $198.6M | ||
| Q3 24 | $350.9M | $205.2M | ||
| Q2 24 | $346.0M | $193.2M | ||
| Q1 24 | $340.6M | $187.1M |
| Q4 25 | $456.1M | $578.8M | ||
| Q3 25 | $462.6M | $596.3M | ||
| Q2 25 | $471.9M | $571.0M | ||
| Q1 25 | $421.9M | $526.8M | ||
| Q4 24 | $404.7M | $523.0M | ||
| Q3 24 | $422.6M | $551.7M | ||
| Q2 24 | $414.6M | $548.1M | ||
| Q1 24 | $397.2M | $542.1M |
| 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× | ||
| 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 | $-701.0K | $32.1M |
| Free Cash FlowOCF − Capex | $-2.2M | $26.0M |
| FCF MarginFCF / Revenue | -1.4% | 14.3% |
| Capex IntensityCapex / Revenue | 0.9% | 3.4% |
| Cash ConversionOCF / Net Profit | -0.09× | 8.55× |
| TTM Free Cash FlowTrailing 4 quarters | $439.0K | $8.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-701.0K | $32.1M | ||
| Q3 25 | $-17.0M | $4.5M | ||
| Q2 25 | $28.5M | $-9.3M | ||
| Q1 25 | $-3.3M | $5.6M | ||
| Q4 24 | $19.0M | $25.7M | ||
| Q3 24 | $16.2M | $19.4M | ||
| Q2 24 | $18.8M | $4.5M | ||
| Q1 24 | $1.4M | $604.0K |
| Q4 25 | $-2.2M | $26.0M | ||
| Q3 25 | $-18.7M | $-4.1M | ||
| Q2 25 | $26.9M | $-14.7M | ||
| Q1 25 | $-5.5M | $1.1M | ||
| Q4 24 | $16.3M | $22.1M | ||
| Q3 24 | $14.5M | $14.6M | ||
| Q2 24 | $15.5M | $-284.0K | ||
| Q1 24 | $-580.0K | $-4.2M |
| Q4 25 | -1.4% | 14.3% | ||
| Q3 25 | -10.6% | -2.1% | ||
| Q2 25 | 15.0% | -7.9% | ||
| Q1 25 | -3.5% | 0.7% | ||
| Q4 24 | 12.6% | 12.8% | ||
| Q3 24 | 10.8% | 8.0% | ||
| Q2 24 | 10.7% | -0.1% | ||
| Q1 24 | -0.5% | -2.3% |
| Q4 25 | 0.9% | 3.4% | ||
| Q3 25 | 1.0% | 4.4% | ||
| Q2 25 | 0.9% | 2.9% | ||
| Q1 25 | 1.4% | 2.8% | ||
| Q4 24 | 2.1% | 2.1% | ||
| Q3 24 | 1.3% | 2.6% | ||
| Q2 24 | 2.2% | 2.5% | ||
| Q1 24 | 1.5% | 2.6% |
| Q4 25 | -0.09× | 8.55× | ||
| Q3 25 | -1.17× | 0.34× | ||
| Q2 25 | 1.88× | -3.07× | ||
| Q1 25 | -0.32× | — | ||
| Q4 24 | 17.56× | 4.96× | ||
| Q3 24 | 3.48× | 3.02× | ||
| Q2 24 | 2.86× | 0.71× | ||
| Q1 24 | 0.20× | 0.61× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IIIN
| Welded Wire Reinforcement | $108.4M | 68% |
| PC Strand | $51.6M | 32% |
MG
Segment breakdown not available.
