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Side-by-side financial comparison of Mistras Group, Inc. (MG) and Vericel Corp (VCEL). Click either name above to swap in a different company.
Mistras Group, Inc. is the larger business by last-quarter revenue ($181.5M vs $92.9M, roughly 2.0× Vericel Corp). Vericel Corp runs the higher net margin — 25.0% vs 2.1%, a 22.9% gap on every dollar of revenue. On growth, Vericel Corp posted the faster year-over-year revenue change (23.3% vs 5.1%). Mistras Group, Inc. produced more free cash flow last quarter ($26.0M vs $12.8M). Over the past eight quarters, Vericel Corp's revenue compounded faster (34.6% 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.
Vericel Corporation is a publicly traded American biopharmaceutical company which was known prior to October 2014 as Aastrom Bio. Aastrom Bio was formed in 1989 in Ann Arbor, Michigan.
MG vs VCEL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $181.5M | $92.9M |
| Net Profit | $3.8M | $23.2M |
| Gross Margin | 28.4% | 78.7% |
| Operating Margin | 7.0% | 24.1% |
| Net Margin | 2.1% | 25.0% |
| Revenue YoY | 5.1% | 23.3% |
| Net Profit YoY | -27.4% | 17.3% |
| EPS (diluted) | $0.12 | $0.46 |
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 | $92.9M | ||
| Q3 25 | $195.5M | $67.5M | ||
| Q2 25 | $185.4M | $63.2M | ||
| Q1 25 | $161.6M | $52.6M | ||
| Q4 24 | $172.7M | $75.4M | ||
| Q3 24 | $182.7M | $57.9M | ||
| Q2 24 | $189.8M | $52.7M | ||
| Q1 24 | $184.4M | $51.3M |
| Q4 25 | $3.8M | $23.2M | ||
| Q3 25 | $13.1M | $5.1M | ||
| Q2 25 | $3.0M | $-553.0K | ||
| Q1 25 | $-3.2M | $-11.2M | ||
| Q4 24 | $5.2M | $19.8M | ||
| Q3 24 | $6.4M | $-901.0K | ||
| Q2 24 | $6.4M | $-4.7M | ||
| Q1 24 | $995.0K | $-3.9M |
| Q4 25 | 28.4% | 78.7% | ||
| Q3 25 | 29.8% | 73.5% | ||
| Q2 25 | 29.1% | 73.7% | ||
| Q1 25 | 25.3% | 69.0% | ||
| Q4 24 | 26.5% | 77.6% | ||
| Q3 24 | 26.8% | 71.9% | ||
| Q2 24 | 27.1% | 69.5% | ||
| Q1 24 | 25.0% | 68.9% |
| Q4 25 | 7.0% | 24.1% | ||
| Q3 25 | 10.4% | 5.1% | ||
| Q2 25 | 4.5% | -3.2% | ||
| Q1 25 | -0.6% | -24.3% | ||
| Q4 24 | 6.1% | 24.5% | ||
| Q3 24 | 6.5% | -4.3% | ||
| Q2 24 | 6.3% | -11.5% | ||
| Q1 24 | 3.0% | -10.7% |
| Q4 25 | 2.1% | 25.0% | ||
| Q3 25 | 6.7% | 7.5% | ||
| Q2 25 | 1.6% | -0.9% | ||
| Q1 25 | -2.0% | -21.4% | ||
| Q4 24 | 3.0% | 26.3% | ||
| Q3 24 | 3.5% | -1.6% | ||
| Q2 24 | 3.4% | -8.9% | ||
| Q1 24 | 0.5% | -7.5% |
| Q4 25 | $0.12 | $0.46 | ||
| Q3 25 | $0.41 | $0.10 | ||
| Q2 25 | $0.10 | $-0.01 | ||
| Q1 25 | $-0.10 | $-0.23 | ||
| Q4 24 | $0.17 | $0.40 | ||
| Q3 24 | $0.20 | $-0.02 | ||
| Q2 24 | $0.20 | $-0.10 | ||
| Q1 24 | $0.03 | $-0.08 |
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 | $137.5M |
| Total DebtLower is stronger | $178.0M | — |
| Stockholders' EquityBook value | $235.1M | $354.6M |
| Total Assets | $578.8M | $488.0M |
| Debt / EquityLower = less leverage | 0.76× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $28.0M | $137.5M | ||
| Q3 25 | $27.8M | $135.4M | ||
| Q2 25 | $20.0M | $116.9M | ||
| Q1 25 | $18.5M | $112.9M | ||
| Q4 24 | $18.3M | $116.2M | ||
| Q3 24 | $20.4M | $101.7M | ||
| Q2 24 | $17.2M | $102.5M | ||
| Q1 24 | $16.9M | $110.6M |
| Q4 25 | $178.0M | — | ||
| Q3 25 | $202.3M | — | ||
| Q2 25 | $189.4M | — | ||
| Q1 25 | $171.9M | — | ||
| Q4 24 | $169.6M | — | ||
| Q3 24 | $189.7M | — | ||
| Q2 24 | $199.7M | — | ||
| Q1 24 | $198.4M | — |
| Q4 25 | $235.1M | $354.6M | ||
| Q3 25 | $227.4M | $321.9M | ||
| Q2 25 | $215.8M | $306.8M | ||
| Q1 25 | $198.7M | $295.5M | ||
| Q4 24 | $198.6M | $292.0M | ||
| Q3 24 | $205.2M | $257.5M | ||
| Q2 24 | $193.2M | $243.0M | ||
| Q1 24 | $187.1M | $233.9M |
| Q4 25 | $578.8M | $488.0M | ||
| Q3 25 | $596.3M | $453.3M | ||
| Q2 25 | $571.0M | $435.6M | ||
| Q1 25 | $526.8M | $424.6M | ||
| Q4 24 | $523.0M | $432.7M | ||
| Q3 24 | $551.7M | $390.4M | ||
| Q2 24 | $548.1M | $376.8M | ||
| Q1 24 | $542.1M | $356.7M |
| Q4 25 | 0.76× | — | ||
| Q3 25 | 0.89× | — | ||
| Q2 25 | 0.88× | — | ||
| Q1 25 | 0.87× | — | ||
| Q4 24 | 0.85× | — | ||
| Q3 24 | 0.92× | — | ||
| 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 | $15.0M |
| Free Cash FlowOCF − Capex | $26.0M | $12.8M |
| FCF MarginFCF / Revenue | 14.3% | 13.8% |
| Capex IntensityCapex / Revenue | 3.4% | 2.4% |
| Cash ConversionOCF / Net Profit | 8.55× | 0.65× |
| TTM Free Cash FlowTrailing 4 quarters | $8.3M | $24.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $32.1M | $15.0M | ||
| Q3 25 | $4.5M | $22.1M | ||
| Q2 25 | $-9.3M | $8.2M | ||
| Q1 25 | $5.6M | $6.6M | ||
| Q4 24 | $25.7M | $22.2M | ||
| Q3 24 | $19.4M | $10.2M | ||
| Q2 24 | $4.5M | $18.5M | ||
| Q1 24 | $604.0K | $7.2M |
| Q4 25 | $26.0M | $12.8M | ||
| Q3 25 | $-4.1M | $19.5M | ||
| Q2 25 | $-14.7M | $81.0K | ||
| Q1 25 | $1.1M | $-7.6M | ||
| Q4 24 | $22.1M | $8.5M | ||
| Q3 24 | $14.6M | $-9.2M | ||
| Q2 24 | $-284.0K | $1.8M | ||
| Q1 24 | $-4.2M | $-6.8M |
| Q4 25 | 14.3% | 13.8% | ||
| Q3 25 | -2.1% | 28.8% | ||
| Q2 25 | -7.9% | 0.1% | ||
| Q1 25 | 0.7% | -14.5% | ||
| Q4 24 | 12.8% | 11.2% | ||
| Q3 24 | 8.0% | -15.9% | ||
| Q2 24 | -0.1% | 3.4% | ||
| Q1 24 | -2.3% | -13.3% |
| Q4 25 | 3.4% | 2.4% | ||
| Q3 25 | 4.4% | 3.9% | ||
| Q2 25 | 2.9% | 12.9% | ||
| Q1 25 | 2.8% | 27.0% | ||
| Q4 24 | 2.1% | 18.3% | ||
| Q3 24 | 2.6% | 33.5% | ||
| Q2 24 | 2.5% | 31.8% | ||
| Q1 24 | 2.6% | 27.3% |
| Q4 25 | 8.55× | 0.65× | ||
| Q3 25 | 0.34× | 4.35× | ||
| Q2 25 | -3.07× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 4.96× | 1.12× | ||
| Q3 24 | 3.02× | — | ||
| Q2 24 | 0.71× | — | ||
| 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.
VCEL
| MACI Implants And Kits | $84.1M | 90% |
| Other | $8.8M | 10% |
