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Side-by-side financial comparison of Mistras Group, Inc. (MG) and Bio-Techne (TECH). Click either name above to swap in a different company.
Bio-Techne is the larger business by last-quarter revenue ($295.9M vs $181.5M, roughly 1.6× Mistras Group, Inc.). Bio-Techne runs the higher net margin — 12.8% vs 2.1%, a 10.8% gap on every dollar of revenue. On growth, Mistras Group, Inc. posted the faster year-over-year revenue change (5.1% vs -6.4%). Over the past eight quarters, Bio-Techne's revenue compounded faster (4.2% 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.
Bio-Techne Corporation is an American life sciences company that develops, manufactures and sells life science reagents, instruments and services for the research, diagnostic, and bioprocessing markets.
MG vs TECH — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $181.5M | $295.9M |
| Net Profit | $3.8M | $38.0M |
| Gross Margin | 28.4% | 64.6% |
| Operating Margin | 7.0% | 18.4% |
| Net Margin | 2.1% | 12.8% |
| Revenue YoY | 5.1% | -6.4% |
| Net Profit YoY | -27.4% | 68.3% |
| EPS (diluted) | $0.12 | $0.24 |
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 | $295.9M | ||
| Q3 25 | $195.5M | — | ||
| Q2 25 | $185.4M | $317.0M | ||
| Q1 25 | $161.6M | $316.2M | ||
| Q4 24 | $172.7M | $297.0M | ||
| Q3 24 | $182.7M | $289.5M | ||
| Q2 24 | $189.8M | $306.1M | ||
| Q1 24 | $184.4M | $303.4M |
| Q4 25 | $3.8M | $38.0M | ||
| Q3 25 | $13.1M | — | ||
| Q2 25 | $3.0M | $-17.7M | ||
| Q1 25 | $-3.2M | $22.6M | ||
| Q4 24 | $5.2M | $34.9M | ||
| Q3 24 | $6.4M | $33.6M | ||
| Q2 24 | $6.4M | $40.6M | ||
| Q1 24 | $995.0K | $49.1M |
| Q4 25 | 28.4% | 64.6% | ||
| Q3 25 | 29.8% | — | ||
| Q2 25 | 29.1% | 62.7% | ||
| Q1 25 | 25.3% | 67.9% | ||
| Q4 24 | 26.5% | 65.3% | ||
| Q3 24 | 26.8% | 63.2% | ||
| Q2 24 | 27.1% | 66.4% | ||
| Q1 24 | 25.0% | 67.4% |
| Q4 25 | 7.0% | 18.4% | ||
| Q3 25 | 10.4% | — | ||
| Q2 25 | 4.5% | -7.5% | ||
| Q1 25 | -0.6% | 12.2% | ||
| Q4 24 | 6.1% | 16.0% | ||
| Q3 24 | 6.5% | 13.8% | ||
| Q2 24 | 6.3% | 15.0% | ||
| Q1 24 | 3.0% | 22.1% |
| Q4 25 | 2.1% | 12.8% | ||
| Q3 25 | 6.7% | — | ||
| Q2 25 | 1.6% | -5.6% | ||
| Q1 25 | -2.0% | 7.1% | ||
| Q4 24 | 3.0% | 11.7% | ||
| Q3 24 | 3.5% | 11.6% | ||
| Q2 24 | 3.4% | 13.3% | ||
| Q1 24 | 0.5% | 16.2% |
| Q4 25 | $0.12 | $0.24 | ||
| Q3 25 | $0.41 | — | ||
| Q2 25 | $0.10 | $-0.11 | ||
| Q1 25 | $-0.10 | $0.14 | ||
| Q4 24 | $0.17 | $0.22 | ||
| Q3 24 | $0.20 | $0.21 | ||
| Q2 24 | $0.20 | $0.26 | ||
| Q1 24 | $0.03 | $0.31 |
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 | $172.9M |
| Total DebtLower is stronger | $178.0M | $260.0M |
| Stockholders' EquityBook value | $235.1M | $2.0B |
| Total Assets | $578.8M | $2.5B |
| Debt / EquityLower = less leverage | 0.76× | 0.13× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $28.0M | $172.9M | ||
| Q3 25 | $27.8M | — | ||
| Q2 25 | $20.0M | $162.2M | ||
| Q1 25 | $18.5M | $140.7M | ||
| Q4 24 | $18.3M | $177.5M | ||
| Q3 24 | $20.4M | $187.5M | ||
| Q2 24 | $17.2M | $152.9M | ||
| Q1 24 | $16.9M | $145.3M |
| Q4 25 | $178.0M | $260.0M | ||
| Q3 25 | $202.3M | — | ||
| Q2 25 | $189.4M | $346.0M | ||
| Q1 25 | $171.9M | $330.0M | ||
| Q4 24 | $169.6M | $300.0M | ||
| Q3 24 | $189.7M | $300.0M | ||
| Q2 24 | $199.7M | $319.0M | ||
| Q1 24 | $198.4M | $389.0M |
| Q4 25 | $235.1M | $2.0B | ||
| Q3 25 | $227.4M | — | ||
| Q2 25 | $215.8M | $1.9B | ||
| Q1 25 | $198.7M | $2.0B | ||
| Q4 24 | $198.6M | $2.1B | ||
| Q3 24 | $205.2M | $2.1B | ||
| Q2 24 | $193.2M | $2.1B | ||
| Q1 24 | $187.1M | $2.0B |
| Q4 25 | $578.8M | $2.5B | ||
| Q3 25 | $596.3M | — | ||
| Q2 25 | $571.0M | $2.6B | ||
| Q1 25 | $526.8M | $2.6B | ||
| Q4 24 | $523.0M | $2.7B | ||
| Q3 24 | $551.7M | $2.7B | ||
| Q2 24 | $548.1M | $2.7B | ||
| Q1 24 | $542.1M | $2.7B |
| Q4 25 | 0.76× | 0.13× | ||
| Q3 25 | 0.89× | — | ||
| Q2 25 | 0.88× | 0.18× | ||
| Q1 25 | 0.87× | 0.16× | ||
| Q4 24 | 0.85× | 0.14× | ||
| Q3 24 | 0.92× | 0.14× | ||
| Q2 24 | 1.03× | 0.15× | ||
| Q1 24 | 1.06× | 0.19× |
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 | — |
| Free Cash FlowOCF − Capex | $26.0M | — |
| FCF MarginFCF / Revenue | 14.3% | — |
| Capex IntensityCapex / Revenue | 3.4% | — |
| Cash ConversionOCF / Net Profit | 8.55× | — |
| TTM Free Cash FlowTrailing 4 quarters | $8.3M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $32.1M | — | ||
| Q3 25 | $4.5M | — | ||
| Q2 25 | $-9.3M | $98.2M | ||
| Q1 25 | $5.6M | $41.1M | ||
| Q4 24 | $25.7M | $84.3M | ||
| Q3 24 | $19.4M | $63.9M | ||
| Q2 24 | $4.5M | $75.5M | ||
| Q1 24 | $604.0K | $81.0M |
| Q4 25 | $26.0M | — | ||
| Q3 25 | $-4.1M | — | ||
| Q2 25 | $-14.7M | $93.3M | ||
| Q1 25 | $1.1M | $31.0M | ||
| Q4 24 | $22.1M | $77.5M | ||
| Q3 24 | $14.6M | $54.7M | ||
| Q2 24 | $-284.0K | $57.5M | ||
| Q1 24 | $-4.2M | $64.5M |
| Q4 25 | 14.3% | — | ||
| Q3 25 | -2.1% | — | ||
| Q2 25 | -7.9% | 29.4% | ||
| Q1 25 | 0.7% | 9.8% | ||
| Q4 24 | 12.8% | 26.1% | ||
| Q3 24 | 8.0% | 18.9% | ||
| Q2 24 | -0.1% | 18.8% | ||
| Q1 24 | -2.3% | 21.3% |
| Q4 25 | 3.4% | — | ||
| Q3 25 | 4.4% | — | ||
| Q2 25 | 2.9% | 1.5% | ||
| Q1 25 | 2.8% | 3.2% | ||
| Q4 24 | 2.1% | 2.3% | ||
| Q3 24 | 2.6% | 3.2% | ||
| Q2 24 | 2.5% | 5.9% | ||
| Q1 24 | 2.6% | 5.4% |
| Q4 25 | 8.55× | — | ||
| Q3 25 | 0.34× | — | ||
| Q2 25 | -3.07× | — | ||
| Q1 25 | — | 1.82× | ||
| Q4 24 | 4.96× | 2.42× | ||
| Q3 24 | 3.02× | 1.90× | ||
| Q2 24 | 0.71× | 1.86× | ||
| Q1 24 | 0.61× | 1.65× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MG
Segment breakdown not available.
TECH
| Diagnostics And Spatial Biology | $81.2M | 27% |
| EMEA Excluding UK | $75.4M | 25% |
| Other | $42.4M | 14% |
| Instruments | $29.6M | 10% |
| APAC Excluding Greater China | $22.7M | 8% |
| Services | $22.3M | 8% |
| GB | $13.7M | 5% |
| Royalty | $8.5M | 3% |
