Mistras Group, Inc. provides technology-enabled asset protection solutions in the United States, other Americas, Europe, and the Asia-Pacific. The company offers non-destructive testing services; inline inspection for pipelines; and plant condition management software. It also provides maintenance and light mechanical services, such as corrosion removal, mitigation and prevention, insulation installation and removal, electrical services, heat tracing, industrial cleaning, pipefitting, and …
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Competitive advantage assessment
Key strengths
ROIC Sustainably Above PeersROIC at 76.0th percentile exceeds peers and WACC, demonstrating superior capital allocation.
Margins Stable Across CyclesOperating margin volatility is low (stability score 0.73), demonstrating pricing resilience across cycles.
Key risks
Liquidity ConcernsLiquidity is concerning (score 0.23), raising questions about short-term obligations.
The dashed ring is the peer median. Defense scores are percentile ranks
against peers, so 50 is roughly the typical company in this group.
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Mistras Group Inc ranks #11 of 27
scored companies in Security & Protection Services by moat score — the top 41%.
The widest moat in the group is NAPCO Security Technologies, In (NSSC)
at 84/100.
Moat scores for companies ranked near MG in Security & Protection Services
Pricing power is the ability to raise prices without losing volume.
Cost Advantage
Score 65
· 15% of the moat score
A cost advantage means delivering the same product for structurally less — better purchasing, denser distribution, a more automated process.
Customer Stickiness
Score 67
· 15% of the moat score
Stickiness is what makes revenue repeat without being re-won every year.
Capital Efficiency
Score 68
· 18% of the moat score
Capital efficiency asks what the company earns on the money tied up in the business.
Resilience
Score 46
· 17% of the moat score
Resilience is the capacity to get through a bad year on its own terms — enough liquidity, enough interest cover, and enough cash generation to avoid a rescue financing or a forced sale.
Scale & Market Position
Score 41
· 15% of the moat score
Scale matters only when it converts into economics.
Mistras Group Inc (MG) scores 58 out of 100 on the StatsAlpha Moat Map, which rates its competitive advantage as moderate. It ranks #11 of 27 scored companies in Security & Protection Services, the top 41%. The score is a weighted composite of 6 competitive defenses, each measured against industry peers of 26 companies in Security & Protection Services. Its strongest defense is Capital Efficiency (68/100) and its weakest is Scale & Market Position (41/100).
How does Mistras Group Inc compare with other Security & Protection Services companies?
Mistras Group Inc ranks #11 of 27 scored companies in Security & Protection Services by moat score. The widest moat in Security & Protection Services is NAPCO Security Technologies, In (NSSC) at 84/100. The companies ranked closest are Geo Group Inc (The) REIT (GEO) at 58 just above it and SU Group Holdings Limited (SUGP) at 58 just below it.
How is the moat score calculated?
Each company is scored with an industry-specific template — Corporate Default in this case, chosen because the defenses that matter to a bank are not the ones that matter to a software company. Every defense combines several financial signals, and each signal is measured as a percentile against a peer group of 26 companies in Security & Protection Services. The defenses are then weighted to produce the overall score out of 100.
Why is Mistras Group Inc scored with the Corporate Default template?
Most public companies sell a product or a service at a margin, so the moat question is whether that margin survives contact with competitors. The Corporate template scores the six defenses that show up in a general operating company's financial signature: whether it can hold price, produce more cheaply than rivals, keep its customers, earn a return above its cost of capital, withstand a downturn, and turn size into economics.
Which competitive defenses are measured for Mistras Group Inc?
The Corporate Default template measures 6 defenses, and MG scores: Pricing Power (58), Cost Advantage (65), Customer Stickiness (67), Capital Efficiency (68), Resilience (46), Scale & Market Position (41). Each is scored independently as a percentile against peers, so a company can be strong on one and weak on another — the overall score reflects how those defenses are weighted for this industry.
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