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Side-by-side financial comparison of Mistras Group, Inc. (MG) and Riot Platforms, Inc. (RIOT). Click either name above to swap in a different company.
Mistras Group, Inc. is the larger business by last-quarter revenue ($181.5M vs $152.8M, roughly 1.2× Riot Platforms, Inc.). Mistras Group, Inc. runs the higher net margin — 2.1% vs -452.0%, a 454.0% gap on every dollar of revenue. On growth, Riot Platforms, Inc. posted the faster year-over-year revenue change (7.2% vs 5.1%). Mistras Group, Inc. produced more free cash flow last quarter ($26.0M vs $-774.3M). Over the past eight quarters, Riot Platforms, Inc.'s revenue compounded faster (38.8% CAGR vs -0.8%).
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.
Riot Platforms, Inc. is a leading U.S.-based enterprise focused on Bitcoin mining, operating multiple large-scale, energy-efficient data centers across North America. It also invests in blockchain infrastructure development and holds Bitcoin as a core long-term reserve asset, centering its business strategy around the digital asset ecosystem.
MG vs RIOT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $181.5M | $152.8M |
| Net Profit | $3.8M | $-690.7M |
| Gross Margin | 28.4% | — |
| Operating Margin | 7.0% | -447.9% |
| Net Margin | 2.1% | -452.0% |
| Revenue YoY | 5.1% | 7.2% |
| Net Profit YoY | -27.4% | -606.3% |
| EPS (diluted) | $0.12 | $-1.89 |
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 | $181.5M | $152.8M | ||
| Q3 25 | $195.5M | $180.2M | ||
| Q2 25 | $185.4M | $153.0M | ||
| Q1 25 | $161.6M | $161.4M | ||
| Q4 24 | $172.7M | $142.6M | ||
| Q3 24 | $182.7M | $84.8M | ||
| Q2 24 | $189.8M | $70.0M | ||
| Q1 24 | $184.4M | $79.3M |
| Q4 25 | $3.8M | $-690.7M | ||
| Q3 25 | $13.1M | $104.5M | ||
| Q2 25 | $3.0M | $219.5M | ||
| Q1 25 | $-3.2M | $-296.4M | ||
| Q4 24 | $5.2M | $136.4M | ||
| Q3 24 | $6.4M | $-154.4M | ||
| Q2 24 | $6.4M | $-84.4M | ||
| Q1 24 | $995.0K | $211.8M |
| 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% | -447.9% | ||
| Q3 25 | 10.4% | 44.4% | ||
| Q2 25 | 4.5% | — | ||
| Q1 25 | -0.6% | -144.9% | ||
| Q4 24 | 6.1% | — | ||
| Q3 24 | 6.5% | -143.3% | ||
| Q2 24 | 6.3% | -167.2% | ||
| Q1 24 | 3.0% | — |
| Q4 25 | 2.1% | -452.0% | ||
| Q3 25 | 6.7% | 58.0% | ||
| Q2 25 | 1.6% | 143.4% | ||
| Q1 25 | -2.0% | -183.6% | ||
| Q4 24 | 3.0% | 95.7% | ||
| Q3 24 | 3.5% | -182.1% | ||
| Q2 24 | 3.4% | -120.6% | ||
| Q1 24 | 0.5% | 267.1% |
| Q4 25 | $0.12 | $-1.89 | ||
| Q3 25 | $0.41 | $0.26 | ||
| Q2 25 | $0.10 | $0.58 | ||
| Q1 25 | $-0.10 | $-0.90 | ||
| Q4 24 | $0.17 | $0.39 | ||
| Q3 24 | $0.20 | $-0.54 | ||
| Q2 24 | $0.20 | $-0.32 | ||
| Q1 24 | $0.03 | $0.51 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $28.0M | $233.5M |
| Total DebtLower is stronger | $178.0M | $840.8M |
| Stockholders' EquityBook value | $235.1M | $2.9B |
| Total Assets | $578.8M | $3.9B |
| Debt / EquityLower = less leverage | 0.76× | 0.29× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $28.0M | $233.5M | ||
| Q3 25 | $27.8M | $330.7M | ||
| Q2 25 | $20.0M | $255.4M | ||
| Q1 25 | $18.5M | $163.7M | ||
| Q4 24 | $18.3M | $277.9M | ||
| Q3 24 | $20.4M | $355.7M | ||
| Q2 24 | $17.2M | $481.2M | ||
| Q1 24 | $16.9M | $688.5M |
| Q4 25 | $178.0M | $840.8M | ||
| Q3 25 | $202.3M | $5.3M | ||
| Q2 25 | $189.4M | $5.3M | ||
| Q1 25 | $171.9M | $5.3M | ||
| Q4 24 | $169.6M | $584.6M | ||
| Q3 24 | $189.7M | $5.7M | ||
| Q2 24 | $199.7M | — | ||
| Q1 24 | $198.4M | — |
| Q4 25 | $235.1M | $2.9B | ||
| Q3 25 | $227.4M | $3.5B | ||
| Q2 25 | $215.8M | $3.3B | ||
| Q1 25 | $198.7M | $2.9B | ||
| Q4 24 | $198.6M | $3.1B | ||
| Q3 24 | $205.2M | $2.7B | ||
| Q2 24 | $193.2M | $2.6B | ||
| Q1 24 | $187.1M | $2.5B |
| Q4 25 | $578.8M | $3.9B | ||
| Q3 25 | $596.3M | $4.5B | ||
| Q2 25 | $571.0M | $4.3B | ||
| Q1 25 | $526.8M | $3.7B | ||
| Q4 24 | $523.0M | $3.9B | ||
| Q3 24 | $551.7M | $2.9B | ||
| Q2 24 | $548.1M | $2.7B | ||
| Q1 24 | $542.1M | $2.6B |
| Q4 25 | 0.76× | 0.29× | ||
| Q3 25 | 0.89× | 0.00× | ||
| Q2 25 | 0.88× | 0.00× | ||
| Q1 25 | 0.87× | 0.00× | ||
| Q4 24 | 0.85× | 0.19× | ||
| Q3 24 | 0.92× | 0.00× | ||
| 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 | $32.1M | $-572.9M |
| Free Cash FlowOCF − Capex | $26.0M | $-774.3M |
| FCF MarginFCF / Revenue | 14.3% | -506.6% |
| Capex IntensityCapex / Revenue | 3.4% | 131.8% |
| Cash ConversionOCF / Net Profit | 8.55× | — |
| TTM Free Cash FlowTrailing 4 quarters | $8.3M | $-1.4B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $32.1M | $-572.9M | ||
| Q3 25 | $4.5M | $-114.0M | ||
| Q2 25 | $-9.3M | $-231.3M | ||
| Q1 25 | $5.6M | $-122.1M | ||
| Q4 24 | $25.7M | $-255.1M | ||
| Q3 24 | $19.4M | $-56.3M | ||
| Q2 24 | $4.5M | $-42.5M | ||
| Q1 24 | $604.0K | $-57.9M |
| Q4 25 | $26.0M | $-774.3M | ||
| Q3 25 | $-4.1M | $-139.7M | ||
| Q2 25 | $-14.7M | $-291.7M | ||
| Q1 25 | $1.1M | $-154.9M | ||
| Q4 24 | $22.1M | $-495.4M | ||
| Q3 24 | $14.6M | $-127.6M | ||
| Q2 24 | $-284.0K | $-96.1M | ||
| Q1 24 | $-4.2M | $-115.2M |
| Q4 25 | 14.3% | -506.6% | ||
| Q3 25 | -2.1% | -77.5% | ||
| Q2 25 | -7.9% | -190.7% | ||
| Q1 25 | 0.7% | -96.0% | ||
| Q4 24 | 12.8% | -347.5% | ||
| Q3 24 | 8.0% | -150.5% | ||
| Q2 24 | -0.1% | -137.2% | ||
| Q1 24 | -2.3% | -145.2% |
| Q4 25 | 3.4% | 131.8% | ||
| Q3 25 | 4.4% | 14.3% | ||
| Q2 25 | 2.9% | 39.5% | ||
| Q1 25 | 2.8% | 20.4% | ||
| Q4 24 | 2.1% | 168.6% | ||
| Q3 24 | 2.6% | 84.1% | ||
| Q2 24 | 2.5% | 76.5% | ||
| Q1 24 | 2.6% | 72.3% |
| Q4 25 | 8.55× | — | ||
| Q3 25 | 0.34× | -1.09× | ||
| Q2 25 | -3.07× | -1.05× | ||
| Q1 25 | — | — | ||
| Q4 24 | 4.96× | -1.87× | ||
| Q3 24 | 3.02× | — | ||
| Q2 24 | 0.71× | — | ||
| Q1 24 | 0.61× | -0.27× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MG
Segment breakdown not available.
RIOT
| Bitcoin Mining Segment | $131.7M | 86% |
| Engineering Segment | $21.1M | 14% |
