Oil & Gas was Mistras’s largest product and service line in fiscal 2025, bringing in $396.83M of $724.02M (55%).
| Product and Service | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|
| Oil & Gas | $387.75M | $416.00M | $418.92M | $396.83M | ||||
| Aerospace & Defense | $80.55M | $77.00M | $87.02M | $93.82M | ||||
| Industrials | $63.98M | $70.58M | $71.67M | $80.69M | ||||
| Other Process Industries | $54.83M | $47.60M | $49.85M | $40.07M | ||||
| Power Generation & Transmission | $42.10M | $33.97M | $36.52M | $44.22M | ||||
| Infrastructure, Research & Engineering | $27.22M | $29.11M | $33.16M | $37.53M | ||||
| Other | $26.15M | $28.04M | $30.46M | $35.65M | ||||
| Petrochemical | $15.90M | $14.43M | $15.57M | $13.15M | ||||
| Corporate & Eliminations | -$11.12M | -$11.26M | -$13.52M | -$17.92M | ||||
| Total | $687.37M | $705.47M | $729.64M | $724.02M |
Mistras brought in $724.02M from its nine product and service lines in fiscal 2025, the year ended December 31, 2025. That was down 0.8% from $729.64M in fiscal 2024. Oil & Gas was the largest at $396.83M (54.8%), ahead of Aerospace & Defense at $93.82M (13.0%) and Industrials at $80.69M (11.1%). The other five lines brought in $170.61M combined.
Compared with fiscal 2024, Power Generation & Transmission grew fastest, up 21.1% to $44.22M, while Other Process Industries fell the most, down 19.6% to $40.07M. From fiscal 2022 to 2025, combined revenue from these lines grew from $687.37M to $724.02M, a compound annual growth rate of 1.7%. Oil & Gas' share of the total fell from 56.4% to 54.8%.
The total is net of Corporate & Eliminations, which took $17.92M off revenue in fiscal 2025.
North America was Mistras’s largest region in fiscal 2025, bringing in $513.30M of $724.02M (71%).
| Geography | FY 2011 | FY 2012 | FY 2013 | FY 2014 | FY 2015 | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| North America | — | $502.65M | $509.48M | $513.30M | |||||||||||
| United States | $492.96M | — | — | — | |||||||||||
| Us | — | — | — | — | |||||||||||
| Europe | $104.42M | $111.52M | $125.30M | $140.15M | |||||||||||
| Other Americas | $93.36M | $91.64M | $96.06M | $77.96M | |||||||||||
| Asia Pacific | $7.75M | $10.92M | $12.32M | $10.53M | |||||||||||
| Asia-Pacific | — | — | — | — | |||||||||||
| Corporate & Eliminations | -$11.12M | -$11.26M | -$13.52M | -$17.92M | |||||||||||
| Total | $687.37M | $705.47M | $729.64M | $724.02M |
Mistras brought in $724.02M from its five regions in fiscal 2025, the year ended December 31, 2025. That was down 0.8% from $729.64M in fiscal 2024. North America was the largest at $513.30M (70.9%), ahead of Europe at $140.15M (19.4%) and Other Americas at $77.96M (10.8%). The remaining region, Asia Pacific, brought in $10.53M.
Compared with fiscal 2024, Europe grew fastest, up 11.9% to $140.15M, while Other Americas fell the most, down 18.8% to $77.96M.
Mistras began breaking out North America in fiscal 2023, when it brought in $502.65M. Mistras stopped reporting United States as a separate region after fiscal 2022, when it brought in $492.96M. The total is net of Corporate & Eliminations, which took $17.92M off revenue in fiscal 2025.
North America was Mistras’s largest segment in fiscal 2025, bringing in $584.13M of $724.02M (81%).
| Segment | FY 2011 | FY 2012 | FY 2013 | FY 2014 | FY 2015 | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| North America | $573.34M | $579.33M | $593.53M | $584.13M | |||||||||||
| Services | — | — | — | — | |||||||||||
| International | $112.43M | $124.41M | $135.97M | $143.84M | |||||||||||
| Products & Systems | $12.73M | $12.99M | $13.66M | $13.97M | |||||||||||
| Corporate & Eliminations | -$11.12M | -$11.26M | -$13.52M | -$17.92M | |||||||||||
| Intersegment Elimination | — | — | — | — | |||||||||||
| Total | $687.37M | $705.47M | $729.64M | $724.02M |
Mistras brought in $724.02M from its four segments in fiscal 2025, the year ended December 31, 2025. That was down 0.8% from $729.64M in fiscal 2024. North America was the largest at $584.13M (80.7%), ahead of International at $143.84M (19.9%) and Products & Systems at $13.97M (1.9%).
Compared with fiscal 2024, International grew 5.8% to $143.84M, while North America fell 1.6% to $584.13M. From fiscal 2022 to 2025, combined revenue from these segments grew from $687.37M to $724.02M, a compound annual growth rate of 1.7%. North America's share of the total fell from 83.4% to 80.7%.
The total is net of Corporate & Eliminations, which took $17.92M off revenue in fiscal 2025.
Mistras (MG) reports its revenue by product and service, by geography and by segment. In fiscal 2025, Oil & Gas was its largest product and service line, bringing in $396.83M (54.8% of the total), followed by Aerospace & Defense at $93.82M (13.0%).
Oil & Gas was Mistras' largest product and service line in fiscal 2025, bringing in $396.83M, or 54.8% of the $724.02M total across its nine product and service lines.
North America was Mistras' largest region in fiscal 2025, bringing in $513.30M, or 70.9% of the $724.02M total across its five regions.
North America was Mistras' largest segment in fiscal 2025, bringing in $584.13M, or 80.7% of the $724.02M total across its four segments.
Among Mistras' product and service lines that make up at least 2% of revenue, Power Generation & Transmission grew fastest in fiscal 2025, up 21.1% from $36.52M to $44.22M.
Every figure comes from Mistras' annual financial filings, as reported. Each line keeps the name Mistras gives it, and years follow its fiscal calendar.
Mistras' revenue by product and service goes back to fiscal 2018, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.