Industrials · Security & Protection Services
Price
$167.48
Market Cap
$6.5B
Employees
5,000
Beta
0.96
Avg Volume
303,883
CEO
Steven C. Blanco
Business Description
MSA Safety Incorporated is a prominent global manufacturer and provider of safety equipment, specializing in the engineering, production, and distribution of solutions designed to safeguard both personnel and critical infrastructure. The company serves a diverse range of high-risk sectors, including the energy industry (oil, gas, and petrochemical), emergency services (fire departments), construction, industrial manufacturing, utilities, military, and mining. Its international footprint extends significantly across North America, Latin America, and other global markets. Among its principal offerings are permanently installed systems for gas and flame detection, encompassing sophisticated monitoring units, flame sensors, and open-path infrared detectors. These are complemented by essential replacement parts and associated services, all crucial for identifying the presence or absence of various atmospheric gases. The company also provides advanced respiratory protection, including self-contained breathing apparatus (SCBA), alongside portable gas detection devices for on-the-go analysis. MSA Safety's product line further includes a comprehensive range of head protection solutions for industrial use, as well as specialized helmets and protective clothing tailored for firefighters. Additionally, the company offers robust fall protection systems, featuring confined space apparatus, safety harnesses, lanyards, and self-retracting lifelines, often integrated into custom-engineered safety setups. Further expanding its portfolio, the company supplies air-purifying respirators, eye and face shields, ballistic helmets, and gas masks. Distribution reaches both end-users and wholesale partners via direct and indirect sales channels. Its products are marketed under well-known brand names such as V-Gard, Cairns, and Gallet. Founded in 1914, MSA Safety Incorporated maintains its headquarters in Cranberry Township, Pennsylvania.
Business History
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
API Direct from provider
CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
CALCStock Price / EPS (Diluted)
23.55
Stock Price: $167.48
EPS (Diluted): 7.11
EPS (Diluted): 7.11
P/B Ratio (Price vs net asset value)
APIStock Price / Book Value Per Share
4.59
Stock Price: $167.48
Total Equity: $1.37B
Shares: 39,346,000
Total Equity: $1.37B
Shares: 39,346,000
EV/EBITDA (Total value vs operating profit)
APIEnterprise Value / EBITDA
14.35
Market Cap: $6.47B
Total Debt: $580.93M
Cash: $165.07M
EBITDA: $469.79M
Total Debt: $580.93M
Cash: $165.07M
EBITDA: $469.79M
Enterprise Value (Takeover price (cap + debt - cash))
APIMarket Cap + Total Debt - Cash
$6.7B
Market Cap: $6.47B
Total Debt: $580.93M
Cash: $165.07M
Total Debt: $580.93M
Cash: $165.07M
Gross Margin (Revenue left after direct costs)
APIGross Profit / Revenue
46.5%
Gross Profit: $871.11M
Revenue: $1.87B
Revenue: $1.87B
Operating Margin (Revenue left after all operations)
APIOperating Income / Revenue
21.4%
Operating Income: $401.98M
Revenue: $1.87B
Revenue: $1.87B
Net Margin (Revenue left as actual profit)
APINet Income / Revenue
14.9%
Net Income: $278.92M
Revenue: $1.87B
Revenue: $1.87B
ROE (Profit from shareholder equity)
CALCNet Income / Total Equity
20.4%
Net Income: $278.92M
Total Equity: $1.37B
Total Equity: $1.37B
ROIC (Profit from all invested capital)
CALCNOPAT / Invested Capital
17.2%
Operating Income: $401.98M
Tax Rate: 23.9%
Equity: $1.37B
Total Debt: $580.93M
Cash: $165.07M
Tax Rate: 23.9%
Equity: $1.37B
Total Debt: $580.93M
Cash: $165.07M
Current Ratio (Can it pay short-term bills)
APICurrent Assets / Current Liabilities
3.01
Current Assets: $869.29M
Current Liabilities: $289.21M
Current Liabilities: $289.21M
Debt/Equity (Leverage — debt vs equity)
CALCTotal Debt / Total Equity
0.42
Short-Term Debt: $8.23M
Long-Term Debt: $572.71M
Total Debt: $580.93M
Total Equity: $1.37B
Long-Term Debt: $572.71M
Total Debt: $580.93M
Total Equity: $1.37B
Rev/Share (Top-line per share)
CALCRevenue / Shares Outstanding
$47.65
Revenue: $1.87B
Shares: 39,346,000
Shares: 39,346,000
Book Value/Share (Net assets per share)
CALC(Total Assets - Total Liabilities) / Shares
$34.74
Total Equity: $1.37B
Shares: 39,346,000
Shares: 39,346,000
FCF/Share (Real cash generated per share)
CALC(Operating Cash Flow + CapEx) / Shares
$7.51
Operating CF: $363.87M
CapEx: -$68.44M
Shares: 39,346,000
CapEx: -$68.44M
Shares: 39,346,000
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
APILast Annual Dividend / Stock Price
1.3%
Last Dividend: N/A
Stock Price: $167.48
Stock Price: $167.48
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: $278.92M
Net Income: $278.92M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares MSA against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: Jun 21, 2026 6:40pm (5d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $1.4B | $1.5B | $1.8B | $1.8B | $1.9B |
| Cost of Revenue | $784.8M | $854.1M | $935.5M | $947.7M | $1.0B |
| Gross Profit | $615.3M | $673.8M | $852.1M | $860.4M | $871.1M |
| Operating Expenses | $592.6M | $434.7M | $620.8M | $471.3M | $469.1M |
| Operating Income | $22.8M | $239.1M | $231.3M | $389.2M | $402.0M |
| Net Income | $21.3M | $179.6M | $58.6M | $285.0M | $278.9M |
| EBITDA | $84.7M | $316.5M | $314.2M | $476.2M | $469.8M |
| EPS | $0.54 | $4.58 | $1.49 | $7.24 | $7.11 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: Jun 21, 2026 6:40pm (5d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $141.4M | $162.9M | $146.4M | $164.6M | $165.1M |
| Total Current Assets | $792.8M | $880.1M | $786.3M | $803.0M | $869.3M |
| Total Assets | $2.4B | $2.4B | $2.2B | $2.2B | $2.6B |
| Current Liabilities | $330.6M | $345.9M | $332.8M | $288.1M | $289.2M |
| Long-Term Debt | $597.7M | $565.4M | $575.2M | $481.6M | $572.7M |
| Total Liabilities | $1.6B | $1.5B | $1.2B | $1.1B | $1.2B |
| Total Equity | $834.4M | $923.7M | $966.8M | $1.1B | $1.4B |
| Retained Earnings | $1.1B | $1.2B | $1.1B | $1.3B | $1.5B |
Cash Flow (Annual)
Last updated: Jun 21, 2026 6:40pm (5d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | $199.1M | $157.5M | $92.9M | $296.4M | $363.9M |
| Capital Expenditure | -$49.1M | -$43.9M | -$42.8M | -$54.2M | -$68.4M |
| Free Cash Flow | $150.0M | $113.5M | $50.1M | $242.2M | $295.4M |
| Acquisitions (net) | -$392.4M | $1.4M | $0 | $0 | -$189.3M |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | -$6.2M | -$34.4M | -$4.0M | -$37.3M | -$90.0M |
| Net Change in Cash | -$19.6M | $23.0M | -$16.0M | $16.7M | $-30,000 |
Analyst Estimates (Annual)
Last updated: Jun 26, 2026 11:35am (21h ago)| Metric | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|
| Revenue |
$1.9B $1.8B – $1.9B
|
$2.0B $2.0B – $2.1B
|
$2.1B $2.1B – $2.2B
|
$2.2B $2.2B – $2.2B
|
| EBITDA |
$793.3M $782.0M – $797.6M
|
$848.8M $840.4M – $869.9M
|
$897.7M $876.7M – $952.2M
|
$930.3M $930.3M – $930.3M
|
| Net Income |
$307.1M $303.2M – $311.1M
|
$348.5M $343.4M – $353.6M
|
$380.5M $374.2M – $386.8M
|
$430.0M $413.4M – $446.6M
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
Last updated: Jun 21, 2026 6:40pm (5d ago)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | +9.1% | +17.0% | +1.1% | +3.7% |
| Gross Profit Growth | +9.5% | +26.5% | +1.0% | +1.2% |
| Operating Income Growth | +949.8% | -3.3% | +68.2% | +3.3% |
| Net Income Growth | +741.8% | -67.4% | +386.4% | -2.1% |
| EBITDA Growth | +273.8% | -0.7% | +51.6% | -1.4% |
Dividend History (Last 20)
Last updated: Jun 21, 2026 6:40pm (5d ago)| Date | Dividend | Declaration | Record | Payment |
|---|---|---|---|---|
| 2026-05-15 | $0.54 | 2026-05-04 | 2026-05-15 | 2026-06-10 |
| 2026-02-13 | $0.53 | 2026-01-15 | 2026-02-13 | 2026-03-10 |
| 2025-11-14 | $0.53 | 2025-10-31 | 2025-11-14 | 2025-12-10 |
| 2025-08-15 | $0.53 | 2025-08-02 | 2025-08-15 | 2025-09-10 |
| 2025-05-15 | $0.53 | 2025-05-02 | 2025-05-15 | 2025-06-10 |
| 2025-02-14 | $0.51 | 2025-01-15 | 2025-02-14 | 2025-03-10 |
| 2024-11-15 | $0.51 | 2024-10-31 | 2024-11-15 | 2024-12-10 |
| 2024-08-15 | $0.51 | 2024-08-01 | 2024-08-15 | 2024-09-10 |
| 2024-05-14 | $0.51 | 2024-05-02 | 2024-05-15 | 2024-06-10 |
| 2024-02-14 | $0.47 | 2024-01-16 | 2024-02-15 | 2024-03-10 |
| 2023-11-14 | $0.47 | 2023-10-27 | 2023-11-15 | 2023-12-10 |
| 2023-08-15 | $0.47 | 2023-08-01 | 2023-08-16 | 2023-09-10 |
| 2023-05-15 | $0.47 | 2023-05-02 | 2023-05-16 | 2023-06-10 |
| 2023-02-13 | $0.46 | 2023-02-03 | 2023-02-14 | 2023-03-10 |
| 2022-11-14 | $0.46 | 2022-10-31 | 2022-11-15 | 2022-12-10 |
| 2022-08-15 | $0.46 | 2022-08-02 | 2022-08-16 | 2022-09-10 |
| 2022-05-13 | $0.46 | 2022-05-02 | 2022-05-16 | 2022-06-10 |
| 2022-02-11 | $0.44 | 2022-01-18 | 2022-02-14 | 2022-03-10 |
| 2021-11-12 | $0.44 | 2021-10-29 | 2021-11-15 | 2021-12-10 |
| 2021-08-13 | $0.44 | 2021-08-03 | 2021-08-16 | 2021-09-10 |
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for MSA — it's generated by the pipeline (
market-narrative step).
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Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.352 · d1100787 · 2026-06-26 11:39:30