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Side-by-side financial comparison of Montrose Environmental Group, Inc. (MEG) and Waldencast plc (WALD). Click either name above to swap in a different company.
Montrose Environmental Group, Inc. is the larger business by last-quarter revenue ($193.3M vs $108.8M, roughly 1.8× Waldencast plc). Montrose Environmental Group, Inc. runs the higher net margin — -4.3% vs -55.7%, a 51.4% gap on every dollar of revenue. On growth, Waldencast plc posted the faster year-over-year revenue change (17.8% vs 2.2%). Montrose Environmental Group, Inc. produced more free cash flow last quarter ($46.5M vs $-13.9M).
Montrose Environmental Group, Inc. is an American multinational corporation that provides wide-ranging environmental services. The company is vertically integrated across the environmental industry and supports public and private sector clientele. Montrose is headquartered in Little Rock, Arkansas and incorporated in the U.S. state of Delaware.
Waldencast plc is a global multi-brand platform focused on acquiring, developing and scaling high-growth premium niche brands across the beauty, personal care and wellness sectors. It operates primarily across North America and European markets, with core offerings including clean skincare, haircare, color cosmetics and wellness products targeted at quality-focused consumers.
MEG vs WALD — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2023
| Metric | | |
|---|---|---|
| Revenue | $193.3M | $108.8M |
| Net Profit | $-8.2M | $-60.6M |
| Gross Margin | 38.6% | 67.5% |
| Operating Margin | -1.3% | -42.9% |
| Net Margin | -4.3% | -55.7% |
| Revenue YoY | 2.2% | 17.8% |
| Net Profit YoY | 70.9% | — |
| EPS (diluted) | $-0.13 | $-0.65 |
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 | $193.3M | — | ||
| Q3 25 | $224.9M | — | ||
| Q2 25 | $234.5M | — | ||
| Q1 25 | $177.8M | — | ||
| Q4 24 | $189.1M | — | ||
| Q3 24 | $178.7M | — | ||
| Q2 24 | $173.3M | — | ||
| Q1 24 | $155.3M | — |
| Q4 25 | $-8.2M | — | ||
| Q3 25 | $8.4M | — | ||
| Q2 25 | $18.4M | — | ||
| Q1 25 | $-19.4M | — | ||
| Q4 24 | $-28.2M | — | ||
| Q3 24 | $-10.6M | — | ||
| Q2 24 | $-10.2M | — | ||
| Q1 24 | $-13.4M | — |
| Q4 25 | 38.6% | — | ||
| Q3 25 | 39.4% | — | ||
| Q2 25 | 43.4% | — | ||
| Q1 25 | 39.0% | — | ||
| Q4 24 | 40.8% | — | ||
| Q3 24 | 40.9% | — | ||
| Q2 24 | 39.9% | — | ||
| Q1 24 | 37.8% | — |
| Q4 25 | -1.3% | — | ||
| Q3 25 | 4.4% | — | ||
| Q2 25 | 6.4% | — | ||
| Q1 25 | -5.9% | — | ||
| Q4 24 | -12.1% | — | ||
| Q3 24 | -0.6% | — | ||
| Q2 24 | -1.5% | — | ||
| Q1 24 | -6.5% | — |
| Q4 25 | -4.3% | — | ||
| Q3 25 | 3.7% | — | ||
| Q2 25 | 7.8% | — | ||
| Q1 25 | -10.9% | — | ||
| Q4 24 | -14.9% | — | ||
| Q3 24 | -5.9% | — | ||
| Q2 24 | -5.9% | — | ||
| Q1 24 | -8.6% | — |
| Q4 25 | $-0.13 | — | ||
| Q3 25 | $0.21 | — | ||
| Q2 25 | $0.42 | — | ||
| Q1 25 | $-0.64 | — | ||
| Q4 24 | $-0.91 | — | ||
| Q3 24 | $-0.39 | — | ||
| Q2 24 | $-0.39 | — | ||
| Q1 24 | $-0.53 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $11.2M | $21.1M |
| Total DebtLower is stronger | $277.1M | — |
| Stockholders' EquityBook value | $451.2M | $624.6M |
| Total Assets | $981.3M | $1.0B |
| Debt / EquityLower = less leverage | 0.61× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $11.2M | — | ||
| Q3 25 | $6.7M | — | ||
| Q2 25 | $10.5M | — | ||
| Q1 25 | $30.3M | — | ||
| Q4 24 | $12.9M | — | ||
| Q3 24 | $13.0M | — | ||
| Q2 24 | $16.9M | — | ||
| Q1 24 | $9.5M | — |
| Q4 25 | $277.1M | — | ||
| Q3 25 | $302.4M | — | ||
| Q2 25 | $264.6M | — | ||
| Q1 25 | $235.6M | — | ||
| Q4 24 | $204.8M | — | ||
| Q3 24 | $233.0M | — | ||
| Q2 24 | $188.7M | — | ||
| Q1 24 | $280.9M | — |
| Q4 25 | $451.2M | — | ||
| Q3 25 | $458.7M | — | ||
| Q2 25 | $470.3M | — | ||
| Q1 25 | $444.1M | — | ||
| Q4 24 | $446.3M | — | ||
| Q3 24 | $449.2M | — | ||
| Q2 24 | $448.8M | — | ||
| Q1 24 | $324.5M | — |
| Q4 25 | $981.3M | — | ||
| Q3 25 | $985.7M | — | ||
| Q2 25 | $998.1M | — | ||
| Q1 25 | $992.2M | — | ||
| Q4 24 | $990.4M | — | ||
| Q3 24 | $1.0B | — | ||
| Q2 24 | $943.9M | — | ||
| Q1 24 | $918.1M | — |
| Q4 25 | 0.61× | — | ||
| Q3 25 | 0.66× | — | ||
| Q2 25 | 0.56× | — | ||
| Q1 25 | 0.53× | — | ||
| Q4 24 | 0.46× | — | ||
| Q3 24 | 0.52× | — | ||
| Q2 24 | 0.42× | — | ||
| Q1 24 | 0.87× | — |
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 | $51.9M | $-13.4M |
| Free Cash FlowOCF − Capex | $46.5M | $-13.9M |
| FCF MarginFCF / Revenue | 24.1% | -12.7% |
| Capex IntensityCapex / Revenue | 2.8% | 0.4% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $91.2M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $51.9M | — | ||
| Q3 25 | $28.1M | — | ||
| Q2 25 | $21.9M | — | ||
| Q1 25 | $5.5M | — | ||
| Q4 24 | $32.0M | — | ||
| Q3 24 | $11.4M | — | ||
| Q2 24 | $894.0K | — | ||
| Q1 24 | $-22.0M | — |
| Q4 25 | $46.5M | — | ||
| Q3 25 | $22.3M | — | ||
| Q2 25 | $19.9M | — | ||
| Q1 25 | $2.4M | — | ||
| Q4 24 | $29.7M | — | ||
| Q3 24 | $10.2M | — | ||
| Q2 24 | $-9.8M | — | ||
| Q1 24 | $-29.3M | — |
| Q4 25 | 24.1% | — | ||
| Q3 25 | 9.9% | — | ||
| Q2 25 | 8.5% | — | ||
| Q1 25 | 1.3% | — | ||
| Q4 24 | 15.7% | — | ||
| Q3 24 | 5.7% | — | ||
| Q2 24 | -5.6% | — | ||
| Q1 24 | -18.9% | — |
| Q4 25 | 2.8% | — | ||
| Q3 25 | 2.6% | — | ||
| Q2 25 | 0.8% | — | ||
| Q1 25 | 1.8% | — | ||
| Q4 24 | 1.2% | — | ||
| Q3 24 | 0.6% | — | ||
| Q2 24 | 6.1% | — | ||
| Q1 24 | 4.7% | — |
| Q4 25 | — | — | ||
| Q3 25 | 3.36× | — | ||
| Q2 25 | 1.19× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
