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Side-by-side financial comparison of INDEPENDENCE REALTY TRUST, INC. (IRT) 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 $167.1M, roughly 1.1× INDEPENDENCE REALTY TRUST, INC.). INDEPENDENCE REALTY TRUST, INC. runs the higher net margin — 19.9% vs 2.1%, a 17.8% gap on every dollar of revenue. On growth, Mistras Group, Inc. posted the faster year-over-year revenue change (5.1% vs 3.8%). Over the past eight quarters, INDEPENDENCE REALTY TRUST, INC.'s revenue compounded faster (2.0% CAGR vs -0.8%).
Brandywine Realty Trust is a Philadelphia-based real estate investment trust (REIT) that invests in office buildings in Philadelphia, Washington, D.C., and Austin, Texas.
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.
IRT vs MG — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $167.1M | $181.5M |
| Net Profit | $33.3M | $3.8M |
| Gross Margin | — | 28.4% |
| Operating Margin | — | 7.0% |
| Net Margin | 19.9% | 2.1% |
| Revenue YoY | 3.8% | 5.1% |
| Net Profit YoY | 3410.0% | -27.4% |
| EPS (diluted) | $0.14 | $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 | $167.1M | $181.5M | ||
| Q3 25 | $167.1M | $195.5M | ||
| Q2 25 | $162.2M | $185.4M | ||
| Q1 25 | $161.2M | $161.6M | ||
| Q4 24 | $161.0M | $172.7M | ||
| Q3 24 | $160.1M | $182.7M | ||
| Q2 24 | $158.4M | $189.8M | ||
| Q1 24 | $160.5M | $184.4M |
| Q4 25 | $33.3M | $3.8M | ||
| Q3 25 | $6.9M | $13.1M | ||
| Q2 25 | $8.0M | $3.0M | ||
| Q1 25 | $8.4M | $-3.2M | ||
| Q4 24 | $-1.0M | $5.2M | ||
| Q3 24 | $12.4M | $6.4M | ||
| Q2 24 | $10.4M | $6.4M | ||
| Q1 24 | $17.6M | $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 | — | 7.0% | ||
| Q3 25 | — | 10.4% | ||
| Q2 25 | — | 4.5% | ||
| Q1 25 | — | -0.6% | ||
| Q4 24 | — | 6.1% | ||
| Q3 24 | — | 6.5% | ||
| Q2 24 | — | 6.3% | ||
| Q1 24 | — | 3.0% |
| Q4 25 | 19.9% | 2.1% | ||
| Q3 25 | 4.1% | 6.7% | ||
| Q2 25 | 5.0% | 1.6% | ||
| Q1 25 | 5.2% | -2.0% | ||
| Q4 24 | -0.6% | 3.0% | ||
| Q3 24 | 7.7% | 3.5% | ||
| Q2 24 | 6.5% | 3.4% | ||
| Q1 24 | 10.9% | 0.5% |
| Q4 25 | $0.14 | $0.12 | ||
| Q3 25 | $0.03 | $0.41 | ||
| Q2 25 | $0.03 | $0.10 | ||
| Q1 25 | $0.04 | $-0.10 | ||
| Q4 24 | $-0.01 | $0.17 | ||
| Q3 24 | $0.05 | $0.20 | ||
| Q2 24 | $0.05 | $0.20 | ||
| Q1 24 | $0.08 | $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 | $23.6M | $28.0M |
| Total DebtLower is stronger | $2.3B | $178.0M |
| Stockholders' EquityBook value | $3.5B | $235.1M |
| Total Assets | $6.0B | $578.8M |
| Debt / EquityLower = less leverage | 0.66× | 0.76× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $23.6M | $28.0M | ||
| Q3 25 | $23.3M | $27.8M | ||
| Q2 25 | $19.5M | $20.0M | ||
| Q1 25 | $29.1M | $18.5M | ||
| Q4 24 | $21.2M | $18.3M | ||
| Q3 24 | $17.6M | $20.4M | ||
| Q2 24 | $21.0M | $17.2M | ||
| Q1 24 | $21.3M | $16.9M |
| Q4 25 | $2.3B | $178.0M | ||
| Q3 25 | $2.3B | $202.3M | ||
| Q2 25 | $2.2B | $189.4M | ||
| Q1 25 | $2.3B | $171.9M | ||
| Q4 24 | $2.3B | $169.6M | ||
| Q3 24 | $2.3B | $189.7M | ||
| Q2 24 | $2.3B | $199.7M | ||
| Q1 24 | $2.3B | $198.4M |
| Q4 25 | $3.5B | $235.1M | ||
| Q3 25 | $3.5B | $227.4M | ||
| Q2 25 | $3.4B | $215.8M | ||
| Q1 25 | $3.5B | $198.7M | ||
| Q4 24 | $3.4B | $198.6M | ||
| Q3 24 | $3.4B | $205.2M | ||
| Q2 24 | $3.4B | $193.2M | ||
| Q1 24 | $3.4B | $187.1M |
| Q4 25 | $6.0B | $578.8M | ||
| Q3 25 | $6.1B | $596.3M | ||
| Q2 25 | $6.0B | $571.0M | ||
| Q1 25 | $6.0B | $526.8M | ||
| Q4 24 | $6.1B | $523.0M | ||
| Q3 24 | $5.9B | $551.7M | ||
| Q2 24 | $5.9B | $548.1M | ||
| Q1 24 | $6.0B | $542.1M |
| Q4 25 | 0.66× | 0.76× | ||
| Q3 25 | 0.66× | 0.89× | ||
| Q2 25 | 0.66× | 0.88× | ||
| Q1 25 | 0.65× | 0.87× | ||
| Q4 24 | 0.68× | 0.85× | ||
| Q3 24 | 0.68× | 0.92× | ||
| Q2 24 | 0.66× | 1.03× | ||
| Q1 24 | 0.67× | 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 | $282.1M | $32.1M |
| Free Cash FlowOCF − Capex | — | $26.0M |
| FCF MarginFCF / Revenue | — | 14.3% |
| Capex IntensityCapex / Revenue | — | 3.4% |
| Cash ConversionOCF / Net Profit | 8.48× | 8.55× |
| TTM Free Cash FlowTrailing 4 quarters | — | $8.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $282.1M | $32.1M | ||
| Q3 25 | $79.3M | $4.5M | ||
| Q2 25 | $82.2M | $-9.3M | ||
| Q1 25 | $60.4M | $5.6M | ||
| Q4 24 | $259.8M | $25.7M | ||
| Q3 24 | $69.2M | $19.4M | ||
| Q2 24 | $83.0M | $4.5M | ||
| Q1 24 | $44.1M | $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 | 8.48× | 8.55× | ||
| Q3 25 | 11.51× | 0.34× | ||
| Q2 25 | 10.22× | -3.07× | ||
| Q1 25 | 7.23× | — | ||
| Q4 24 | — | 4.96× | ||
| Q3 24 | 5.60× | 3.02× | ||
| Q2 24 | 8.02× | 0.71× | ||
| Q1 24 | 2.51× | 0.61× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
