Mistras Group Inc — Earnings Quality Grade F
MG · Industrials
Major red flags
Screening Summary
Management Signals
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO increased by 14 days
AR growth 21.5% exceeds revenue growth -0.8%
Revenue -0.8%, CFFO -34.2%. Cash follows revenue
Expense Quality
Inventory -3.3% vs COGS -3.3%. Normal
CapEx growth 27.0% is >2x revenue growth -0.8%
SG&A/Gross Profit = 68.4%. Normal
Gross margin 28.2%, change +1.9pp. Stable
Cash Flow Quality
CFFO/NI = 1.96. Profits backed by cash
FCF $0.0B, FCF/NI = 0.23
Accruals ratio = -2.8%. Low accruals
Cash $0.0B covers only 13% of debt $0.2B
Balance Sheet Health
Goodwill+Intangibles $0.2B = 95% of equity. Over 50%
Debt/EBITDA = 3.1x. Healthy
Other assets -3.4% vs revenue -0.8%. Normal
No write-off data
Acquisition Risk
FCF after acquisitions positive
Goodwill+Intangibles change 1% YoY. Normal
Manipulation Score
M-Score = -2.46 (< -2.22). Unlikely manipulator
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Beneish M-Score
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Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25