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Side-by-side financial comparison of IMAX CORP (IMAX) 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 $125.2M, roughly 1.4× IMAX CORP). Mistras Group, Inc. runs the higher net margin — 2.1% vs 0.5%, a 1.6% gap on every dollar of revenue. On growth, IMAX CORP posted the faster year-over-year revenue change (35.1% vs 5.1%). IMAX CORP produced more free cash flow last quarter ($28.0M vs $26.0M). Over the past eight quarters, IMAX CORP's revenue compounded faster (25.8% CAGR vs -0.8%).
IMAX Corporation is a Canadian production theatre company which designs and manufactures IMAX cameras and projection systems as well as performing film development, production, post-production and distribution to IMAX-affiliated theatres worldwide. Founded in Montreal in 1967, it has headquarters in the Toronto area, and operations in New York City and Los Angeles.
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.
IMAX vs MG — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $125.2M | $181.5M |
| Net Profit | $637.0K | $3.8M |
| Gross Margin | 57.6% | 28.4% |
| Operating Margin | 19.3% | 7.0% |
| Net Margin | 0.5% | 2.1% |
| Revenue YoY | 35.1% | 5.1% |
| Net Profit YoY | -88.0% | -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 | $125.2M | $181.5M | ||
| Q3 25 | $106.7M | $195.5M | ||
| Q2 25 | $91.7M | $185.4M | ||
| Q1 25 | $86.7M | $161.6M | ||
| Q4 24 | $92.7M | $172.7M | ||
| Q3 24 | $91.5M | $182.7M | ||
| Q2 24 | $89.0M | $189.8M | ||
| Q1 24 | $79.1M | $184.4M |
| Q4 25 | $637.0K | $3.8M | ||
| Q3 25 | $20.7M | $13.1M | ||
| Q2 25 | $11.3M | $3.0M | ||
| Q1 25 | $2.3M | $-3.2M | ||
| Q4 24 | $5.3M | $5.2M | ||
| Q3 24 | $13.9M | $6.4M | ||
| Q2 24 | $3.6M | $6.4M | ||
| Q1 24 | $3.3M | $995.0K |
| Q4 25 | 57.6% | 28.4% | ||
| Q3 25 | 63.1% | 29.8% | ||
| Q2 25 | 58.5% | 29.1% | ||
| Q1 25 | 61.4% | 25.3% | ||
| Q4 24 | 52.2% | 26.5% | ||
| Q3 24 | 55.8% | 26.8% | ||
| Q2 24 | 49.4% | 27.1% | ||
| Q1 24 | 59.3% | 25.0% |
| Q4 25 | 19.3% | 7.0% | ||
| Q3 25 | 27.2% | 10.4% | ||
| Q2 25 | 15.6% | 4.5% | ||
| Q1 25 | 19.3% | -0.6% | ||
| Q4 24 | 10.3% | 6.1% | ||
| Q3 24 | 21.2% | 6.5% | ||
| Q2 24 | 3.2% | 6.3% | ||
| Q1 24 | 15.3% | 3.0% |
| Q4 25 | 0.5% | 2.1% | ||
| Q3 25 | 19.4% | 6.7% | ||
| Q2 25 | 12.3% | 1.6% | ||
| Q1 25 | 2.7% | -2.0% | ||
| Q4 24 | 5.7% | 3.0% | ||
| Q3 24 | 15.2% | 3.5% | ||
| Q2 24 | 4.0% | 3.4% | ||
| Q1 24 | 4.1% | 0.5% |
| Q4 25 | $0.02 | $0.12 | ||
| Q3 25 | $0.37 | $0.41 | ||
| Q2 25 | $0.20 | $0.10 | ||
| Q1 25 | $0.04 | $-0.10 | ||
| Q4 24 | $0.09 | $0.17 | ||
| Q3 24 | $0.26 | $0.20 | ||
| Q2 24 | $0.07 | $0.20 | ||
| Q1 24 | $0.06 | $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 | $151.2M | $28.0M |
| Total DebtLower is stronger | — | $178.0M |
| Stockholders' EquityBook value | $337.9M | $235.1M |
| Total Assets | $894.0M | $578.8M |
| Debt / EquityLower = less leverage | — | 0.76× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $151.2M | $28.0M | ||
| Q3 25 | $143.1M | $27.8M | ||
| Q2 25 | $109.3M | $20.0M | ||
| Q1 25 | $97.1M | $18.5M | ||
| Q4 24 | $100.6M | $18.3M | ||
| Q3 24 | $104.5M | $20.4M | ||
| Q2 24 | $91.6M | $17.2M | ||
| Q1 24 | $81.0M | $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 | $337.9M | $235.1M | ||
| Q3 25 | $349.5M | $227.4M | ||
| Q2 25 | $320.4M | $215.8M | ||
| Q1 25 | $299.5M | $198.7M | ||
| Q4 24 | $299.5M | $198.6M | ||
| Q3 24 | $289.4M | $205.2M | ||
| Q2 24 | $267.2M | $193.2M | ||
| Q1 24 | $258.8M | $187.1M |
| Q4 25 | $894.0M | $578.8M | ||
| Q3 25 | $889.6M | $596.3M | ||
| Q2 25 | $868.6M | $571.0M | ||
| Q1 25 | $848.3M | $526.8M | ||
| Q4 24 | $830.4M | $523.0M | ||
| Q3 24 | $847.6M | $551.7M | ||
| Q2 24 | $827.4M | $548.1M | ||
| Q1 24 | $824.1M | $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 | $29.4M | $32.1M |
| Free Cash FlowOCF − Capex | $28.0M | $26.0M |
| FCF MarginFCF / Revenue | 22.3% | 14.3% |
| Capex IntensityCapex / Revenue | 1.1% | 3.4% |
| Cash ConversionOCF / Net Profit | 46.11× | 8.55× |
| TTM Free Cash FlowTrailing 4 quarters | $118.9M | $8.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $29.4M | $32.1M | ||
| Q3 25 | $67.5M | $4.5M | ||
| Q2 25 | $23.2M | $-9.3M | ||
| Q1 25 | $7.0M | $5.6M | ||
| Q4 24 | $11.5M | $25.7M | ||
| Q3 24 | $35.3M | $19.4M | ||
| Q2 24 | $35.0M | $4.5M | ||
| Q1 24 | $-11.0M | $604.0K |
| Q4 25 | $28.0M | $26.0M | ||
| Q3 25 | $64.8M | $-4.1M | ||
| Q2 25 | $20.9M | $-14.7M | ||
| Q1 25 | $5.3M | $1.1M | ||
| Q4 24 | $6.9M | $22.1M | ||
| Q3 24 | $34.2M | $14.6M | ||
| Q2 24 | $33.5M | $-284.0K | ||
| Q1 24 | $-12.1M | $-4.2M |
| Q4 25 | 22.3% | 14.3% | ||
| Q3 25 | 60.7% | -2.1% | ||
| Q2 25 | 22.8% | -7.9% | ||
| Q1 25 | 6.1% | 0.7% | ||
| Q4 24 | 7.4% | 12.8% | ||
| Q3 24 | 37.3% | 8.0% | ||
| Q2 24 | 37.6% | -0.1% | ||
| Q1 24 | -15.3% | -2.3% |
| Q4 25 | 1.1% | 3.4% | ||
| Q3 25 | 2.6% | 4.4% | ||
| Q2 25 | 2.6% | 2.9% | ||
| Q1 25 | 1.9% | 2.8% | ||
| Q4 24 | 5.0% | 2.1% | ||
| Q3 24 | 1.2% | 2.6% | ||
| Q2 24 | 1.8% | 2.5% | ||
| Q1 24 | 1.4% | 2.6% |
| Q4 25 | 46.11× | 8.55× | ||
| Q3 25 | 3.27× | 0.34× | ||
| Q2 25 | 2.06× | -3.07× | ||
| Q1 25 | 2.99× | — | ||
| Q4 24 | 2.16× | 4.96× | ||
| Q3 24 | 2.54× | 3.02× | ||
| Q2 24 | 9.78× | 0.71× | ||
| Q1 24 | -3.35× | 0.61× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IMAX
| Technology Sales | $46.6M | 37% |
| Image Enhancement And Maintenance Services | $38.1M | 30% |
| Joint Revenue Sharing Arrangement | $20.4M | 16% |
| Maintenance | $16.3M | 13% |
| Finance Income | $2.8M | 2% |
| Other Content Solutions | $1.6M | 1% |
MG
Segment breakdown not available.
