Mistras Group (MG) Revenue by Segment

Breaks down sales across the company’s business lines or end markets, showing which areas drive growth and where the company is concentrated. Helps gauge diversification, exposure to cyclical industries, and whether revenue gains are broad-based or reliant on a few services or customers.

North America is still the primary revenue driver but is lumpy—recent quarters show modest YoY growth offset by a material Q1 Oil & Gas decline tied to customer deferments and deliberate exits from low‑margin work. International is the steadier growth leg, gradually reducing dependence on cyclical energy revenue. Products & Systems is volatile and down in Q1, while Corporate & Eliminations expense has increased meaningfully, weighing on free cash flow; management’s margin‑first strategy should improve profitability but keeps near‑term top‑line volatility until higher‑value replacements ramp.