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Side-by-side financial comparison of Industrial Logistics Properties Trust (ILPT) 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 $113.9M, roughly 1.6× Industrial Logistics Properties Trust). Mistras Group, Inc. runs the higher net margin — 2.1% vs -1.6%, a 3.6% gap on every dollar of revenue. On growth, Mistras Group, Inc. posted the faster year-over-year revenue change (5.1% vs 3.1%). Industrial Logistics Properties Trust produced more free cash flow last quarter ($42.0M vs $26.0M). Over the past eight quarters, Industrial Logistics Properties Trust's revenue compounded faster (0.7% CAGR vs -0.8%).
Industrial Logistics Properties Trust is a real estate investment trust that owns and operates a portfolio of industrial and logistics real estate assets primarily across the United States. Its holdings include distribution centers, warehouses, and last-mile delivery properties, serving e-commerce, retail, manufacturing and supply chain operators to meet their storage and logistics operation needs.
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.
ILPT vs MG — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $113.9M | $181.5M |
| Net Profit | $-1.8M | $3.8M |
| Gross Margin | — | 28.4% |
| Operating Margin | -22.1% | 7.0% |
| Net Margin | -1.6% | 2.1% |
| Revenue YoY | 3.1% | 5.1% |
| Net Profit YoY | 92.6% | -27.4% |
| EPS (diluted) | $-0.02 | $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 | $113.9M | $181.5M | ||
| Q3 25 | $110.9M | $195.5M | ||
| Q2 25 | $112.1M | $185.4M | ||
| Q1 25 | $111.9M | $161.6M | ||
| Q4 24 | $110.5M | $172.7M | ||
| Q3 24 | $108.9M | $182.7M | ||
| Q2 24 | $110.6M | $189.8M | ||
| Q1 24 | $112.2M | $184.4M |
| Q4 25 | $-1.8M | $3.8M | ||
| Q3 25 | $-21.6M | $13.1M | ||
| Q2 25 | $-21.3M | $3.0M | ||
| Q1 25 | $-21.5M | $-3.2M | ||
| Q4 24 | $-24.1M | $5.2M | ||
| Q3 24 | $-25.0M | $6.4M | ||
| Q2 24 | $-23.2M | $6.4M | ||
| Q1 24 | $-23.4M | $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 | -22.1% | 7.0% | ||
| Q3 25 | -29.4% | 10.4% | ||
| Q2 25 | -30.8% | 4.5% | ||
| Q1 25 | -26.9% | -0.6% | ||
| Q4 24 | -31.1% | 6.1% | ||
| Q3 24 | -33.5% | 6.5% | ||
| Q2 24 | -32.4% | 6.3% | ||
| Q1 24 | -31.7% | 3.0% |
| Q4 25 | -1.6% | 2.1% | ||
| Q3 25 | -19.4% | 6.7% | ||
| Q2 25 | -19.0% | 1.6% | ||
| Q1 25 | -19.2% | -2.0% | ||
| Q4 24 | -21.8% | 3.0% | ||
| Q3 24 | -22.9% | 3.5% | ||
| Q2 24 | -20.9% | 3.4% | ||
| Q1 24 | -20.9% | 0.5% |
| Q4 25 | $-0.02 | $0.12 | ||
| Q3 25 | $-0.33 | $0.41 | ||
| Q2 25 | $-0.32 | $0.10 | ||
| Q1 25 | $-0.33 | $-0.10 | ||
| Q4 24 | $-0.37 | $0.17 | ||
| Q3 24 | $-0.38 | $0.20 | ||
| Q2 24 | $-0.35 | $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 | $94.8M | $28.0M |
| Total DebtLower is stronger | $4.2B | $178.0M |
| Stockholders' EquityBook value | $489.7M | $235.1M |
| Total Assets | $5.2B | $578.8M |
| Debt / EquityLower = less leverage | 8.56× | 0.76× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $94.8M | $28.0M | ||
| Q3 25 | $83.2M | $27.8M | ||
| Q2 25 | $58.6M | $20.0M | ||
| Q1 25 | $108.0M | $18.5M | ||
| Q4 24 | $131.7M | $18.3M | ||
| Q3 24 | $153.9M | $20.4M | ||
| Q2 24 | $146.2M | $17.2M | ||
| Q1 24 | $128.4M | $16.9M |
| Q4 25 | $4.2B | $178.0M | ||
| Q3 25 | $4.2B | $202.3M | ||
| Q2 25 | $4.2B | $189.4M | ||
| Q1 25 | $4.3B | $171.9M | ||
| Q4 24 | $4.3B | $169.6M | ||
| Q3 24 | $4.3B | $189.7M | ||
| Q2 24 | $4.3B | $199.7M | ||
| Q1 24 | $4.3B | $198.4M |
| Q4 25 | $489.7M | $235.1M | ||
| Q3 25 | $494.1M | $227.4M | ||
| Q2 25 | $519.1M | $215.8M | ||
| Q1 25 | $539.5M | $198.7M | ||
| Q4 24 | $562.0M | $198.6M | ||
| Q3 24 | $585.9M | $205.2M | ||
| Q2 24 | $618.3M | $193.2M | ||
| Q1 24 | $643.2M | $187.1M |
| Q4 25 | $5.2B | $578.8M | ||
| Q3 25 | $5.2B | $596.3M | ||
| Q2 25 | $5.2B | $571.0M | ||
| Q1 25 | $5.4B | $526.8M | ||
| Q4 24 | $5.4B | $523.0M | ||
| Q3 24 | $5.5B | $551.7M | ||
| Q2 24 | $5.5B | $548.1M | ||
| Q1 24 | $5.5B | $542.1M |
| Q4 25 | 8.56× | 0.76× | ||
| Q3 25 | 8.49× | 0.89× | ||
| Q2 25 | 8.09× | 0.88× | ||
| Q1 25 | 7.96× | 0.87× | ||
| Q4 24 | 7.65× | 0.85× | ||
| Q3 24 | 7.35× | 0.92× | ||
| Q2 24 | 6.96× | 1.03× | ||
| Q1 24 | 6.70× | 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 | $60.7M | $32.1M |
| Free Cash FlowOCF − Capex | $42.0M | $26.0M |
| FCF MarginFCF / Revenue | 36.9% | 14.3% |
| Capex IntensityCapex / Revenue | 16.4% | 3.4% |
| Cash ConversionOCF / Net Profit | — | 8.55× |
| TTM Free Cash FlowTrailing 4 quarters | $79.8M | $8.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $60.7M | $32.1M | ||
| Q3 25 | $22.7M | $4.5M | ||
| Q2 25 | $18.4M | $-9.3M | ||
| Q1 25 | $11.4M | $5.6M | ||
| Q4 24 | $2.0M | $25.7M | ||
| Q3 24 | $-3.4M | $19.4M | ||
| Q2 24 | $10.8M | $4.5M | ||
| Q1 24 | $8.0M | $604.0K |
| Q4 25 | $42.0M | $26.0M | ||
| Q3 25 | $17.6M | $-4.1M | ||
| Q2 25 | $15.2M | $-14.7M | ||
| Q1 25 | $5.0M | $1.1M | ||
| Q4 24 | $-3.7M | $22.1M | ||
| Q3 24 | $-5.9M | $14.6M | ||
| Q2 24 | $9.4M | $-284.0K | ||
| Q1 24 | $5.9M | $-4.2M |
| Q4 25 | 36.9% | 14.3% | ||
| Q3 25 | 15.9% | -2.1% | ||
| Q2 25 | 13.5% | -7.9% | ||
| Q1 25 | 4.5% | 0.7% | ||
| Q4 24 | -3.4% | 12.8% | ||
| Q3 24 | -5.5% | 8.0% | ||
| Q2 24 | 8.5% | -0.1% | ||
| Q1 24 | 5.2% | -2.3% |
| Q4 25 | 16.4% | 3.4% | ||
| Q3 25 | 4.6% | 4.4% | ||
| Q2 25 | 2.9% | 2.9% | ||
| Q1 25 | 5.7% | 2.8% | ||
| Q4 24 | 5.2% | 2.1% | ||
| Q3 24 | 2.3% | 2.6% | ||
| Q2 24 | 1.3% | 2.5% | ||
| Q1 24 | 1.9% | 2.6% |
| Q4 25 | — | 8.55× | ||
| Q3 25 | — | 0.34× | ||
| Q2 25 | — | -3.07× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 4.96× | ||
| Q3 24 | — | 3.02× | ||
| Q2 24 | — | 0.71× | ||
| Q1 24 | — | 0.61× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
