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Side-by-side financial comparison of Mistras Group, Inc. (MG) and Latham Group, Inc. (SWIM). Click either name above to swap in a different company.
Mistras Group, Inc. is the larger business by last-quarter revenue ($181.5M vs $100.0M, roughly 1.8× Latham Group, Inc.). Mistras Group, Inc. runs the higher net margin — 2.1% vs -7.0%, a 9.1% gap on every dollar of revenue. On growth, Latham Group, Inc. posted the faster year-over-year revenue change (14.5% vs 5.1%). Mistras Group, Inc. produced more free cash flow last quarter ($26.0M vs $14.1M). Over the past eight quarters, Mistras Group, Inc.'s revenue compounded faster (-0.8% CAGR vs -4.9%).
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.
Latham & Watkins LLP is an American multinational law firm. Founded in 1934 in Los Angeles, California, it is known for its litigation, corporate, and regulatory law practices.
MG vs SWIM — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $181.5M | $100.0M |
| Net Profit | $3.8M | $-7.0M |
| Gross Margin | 28.4% | 28.0% |
| Operating Margin | 7.0% | -10.7% |
| Net Margin | 2.1% | -7.0% |
| Revenue YoY | 5.1% | 14.5% |
| Net Profit YoY | -27.4% | 76.0% |
| EPS (diluted) | $0.12 | $-0.06 |
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 | $100.0M | ||
| Q3 25 | $195.5M | $161.9M | ||
| Q2 25 | $185.4M | $172.6M | ||
| Q1 25 | $161.6M | $111.4M | ||
| Q4 24 | $172.7M | $87.3M | ||
| Q3 24 | $182.7M | $150.5M | ||
| Q2 24 | $189.8M | $160.1M | ||
| Q1 24 | $184.4M | $110.6M |
| Q4 25 | $3.8M | $-7.0M | ||
| Q3 25 | $13.1M | $8.1M | ||
| Q2 25 | $3.0M | $16.0M | ||
| Q1 25 | $-3.2M | $-6.0M | ||
| Q4 24 | $5.2M | $-29.2M | ||
| Q3 24 | $6.4M | $5.9M | ||
| Q2 24 | $6.4M | $13.3M | ||
| Q1 24 | $995.0K | $-7.9M |
| Q4 25 | 28.4% | 28.0% | ||
| Q3 25 | 29.8% | 35.4% | ||
| Q2 25 | 29.1% | 37.1% | ||
| Q1 25 | 25.3% | 29.5% | ||
| Q4 24 | 26.5% | 24.6% | ||
| Q3 24 | 26.8% | 32.4% | ||
| Q2 24 | 27.1% | 33.1% | ||
| Q1 24 | 25.0% | 27.7% |
| Q4 25 | 7.0% | -10.7% | ||
| Q3 25 | 10.4% | 13.3% | ||
| Q2 25 | 4.5% | 14.3% | ||
| Q1 25 | -0.6% | -4.4% | ||
| Q4 24 | 6.1% | -14.9% | ||
| Q3 24 | 6.5% | 8.9% | ||
| Q2 24 | 6.3% | 12.5% | ||
| Q1 24 | 3.0% | -1.9% |
| Q4 25 | 2.1% | -7.0% | ||
| Q3 25 | 6.7% | 5.0% | ||
| Q2 25 | 1.6% | 9.3% | ||
| Q1 25 | -2.0% | -5.4% | ||
| Q4 24 | 3.0% | -33.4% | ||
| Q3 24 | 3.5% | 3.9% | ||
| Q2 24 | 3.4% | 8.3% | ||
| Q1 24 | 0.5% | -7.1% |
| Q4 25 | $0.12 | $-0.06 | ||
| Q3 25 | $0.41 | $0.07 | ||
| Q2 25 | $0.10 | $0.13 | ||
| Q1 25 | $-0.10 | $-0.05 | ||
| Q4 24 | $0.17 | $-0.24 | ||
| Q3 24 | $0.20 | $0.05 | ||
| Q2 24 | $0.20 | $0.11 | ||
| Q1 24 | $0.03 | $-0.07 |
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 | — |
| Total DebtLower is stronger | $178.0M | $279.8M |
| Stockholders' EquityBook value | $235.1M | $405.9M |
| Total Assets | $578.8M | $823.2M |
| Debt / EquityLower = less leverage | 0.76× | 0.69× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $28.0M | — | ||
| Q3 25 | $27.8M | — | ||
| Q2 25 | $20.0M | — | ||
| Q1 25 | $18.5M | — | ||
| Q4 24 | $18.3M | — | ||
| Q3 24 | $20.4M | — | ||
| Q2 24 | $17.2M | — | ||
| Q1 24 | $16.9M | — |
| Q4 25 | $178.0M | $279.8M | ||
| Q3 25 | $202.3M | $281.1M | ||
| Q2 25 | $189.4M | $281.5M | ||
| Q1 25 | $171.9M | $306.9M | ||
| Q4 24 | $169.6M | $281.5M | ||
| Q3 24 | $189.7M | $282.8M | ||
| Q2 24 | $199.7M | $282.4M | ||
| Q1 24 | $198.4M | $282.8M |
| Q4 25 | $235.1M | $405.9M | ||
| Q3 25 | $227.4M | $408.4M | ||
| Q2 25 | $215.8M | $398.4M | ||
| Q1 25 | $198.7M | $381.1M | ||
| Q4 24 | $198.6M | $387.2M | ||
| Q3 24 | $205.2M | $416.6M | ||
| Q2 24 | $193.2M | $408.1M | ||
| Q1 24 | $187.1M | $391.8M |
| Q4 25 | $578.8M | $823.2M | ||
| Q3 25 | $596.3M | $844.4M | ||
| Q2 25 | $571.0M | $822.1M | ||
| Q1 25 | $526.8M | $824.6M | ||
| Q4 24 | $523.0M | $794.2M | ||
| Q3 24 | $551.7M | $853.4M | ||
| Q2 24 | $548.1M | $830.0M | ||
| Q1 24 | $542.1M | $808.6M |
| Q4 25 | 0.76× | 0.69× | ||
| Q3 25 | 0.89× | 0.69× | ||
| Q2 25 | 0.88× | 0.71× | ||
| Q1 25 | 0.87× | 0.81× | ||
| Q4 24 | 0.85× | 0.73× | ||
| Q3 24 | 0.92× | 0.68× | ||
| Q2 24 | 1.03× | 0.69× | ||
| Q1 24 | 1.06× | 0.72× |
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 | $23.3M |
| Free Cash FlowOCF − Capex | $26.0M | $14.1M |
| FCF MarginFCF / Revenue | 14.3% | 14.1% |
| Capex IntensityCapex / Revenue | 3.4% | 9.2% |
| Cash ConversionOCF / Net Profit | 8.55× | — |
| TTM Free Cash FlowTrailing 4 quarters | $8.3M | $38.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $32.1M | $23.3M | ||
| Q3 25 | $4.5M | $51.0M | ||
| Q2 25 | $-9.3M | $36.0M | ||
| Q1 25 | $5.6M | $-46.9M | ||
| Q4 24 | $25.7M | $6.2M | ||
| Q3 24 | $19.4M | $37.2M | ||
| Q2 24 | $4.5M | $52.4M | ||
| Q1 24 | $604.0K | $-34.5M |
| Q4 25 | $26.0M | $14.1M | ||
| Q3 25 | $-4.1M | $45.2M | ||
| Q2 25 | $-14.7M | $29.1M | ||
| Q1 25 | $1.1M | $-50.3M | ||
| Q4 24 | $22.1M | $-98.0K | ||
| Q3 24 | $14.6M | $33.2M | ||
| Q2 24 | $-284.0K | $47.9M | ||
| Q1 24 | $-4.2M | $-39.9M |
| Q4 25 | 14.3% | 14.1% | ||
| Q3 25 | -2.1% | 27.9% | ||
| Q2 25 | -7.9% | 16.8% | ||
| Q1 25 | 0.7% | -45.2% | ||
| Q4 24 | 12.8% | -0.1% | ||
| Q3 24 | 8.0% | 22.1% | ||
| Q2 24 | -0.1% | 29.9% | ||
| Q1 24 | -2.3% | -36.0% |
| Q4 25 | 3.4% | 9.2% | ||
| Q3 25 | 4.4% | 3.6% | ||
| Q2 25 | 2.9% | 4.0% | ||
| Q1 25 | 2.8% | 3.1% | ||
| Q4 24 | 2.1% | 7.2% | ||
| Q3 24 | 2.6% | 2.7% | ||
| Q2 24 | 2.5% | 2.8% | ||
| Q1 24 | 2.6% | 4.8% |
| Q4 25 | 8.55× | — | ||
| Q3 25 | 0.34× | 6.29× | ||
| Q2 25 | -3.07× | 2.25× | ||
| Q1 25 | — | — | ||
| Q4 24 | 4.96× | — | ||
| Q3 24 | 3.02× | 6.32× | ||
| Q2 24 | 0.71× | 3.95× | ||
| Q1 24 | 0.61× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MG
Segment breakdown not available.
SWIM
| In Ground Swimming Pools | $50.2M | 50% |
| Covers | $37.0M | 37% |
| Liners | $12.7M | 13% |
