What If Mistras Isn't As Broken As It Looks?

  • Mistras Group has underperformed since IPO, but now trades at a deep discount with significant upside potential based on EV/EBITDA and EV/S multiples. Short-term headwinds from Oil & Gas weakness and project delays have hit revenues, but cost controls and margin improvements—especially in Data Solutions—offer resilience. The Data Analytical Solutions segment is a bright spot, with higher margins and recurring revenue potential from new unified offerings, softening industry pressures.