MSA Safety (MSA) AI Stock Analysis

• Market Cap: $6.74B
• Dividend Yield: 1.21%
• Average Volume (3M): 220.32K
• Price to Earnings (P/E): 24.6
• Beta (1Y): 0.95
• Revenue Growth: 0.55%
• EPS Growth: 1.85%
• Country: US
• Employees: 5,000
• Sector: Industrials
• Sector Strength: 74
• Industry: Security & Protection Services
• EPS (TTM): 1.93
• Shares Outstanding: 39,143,220
• 10 Day Avg. Volume: 180,968
• 30 Day Avg. Volume: 220,321
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 1.06
• Enterprise Value/Revenue: 3.93
• Enterprise Value/Gross Profit: 8.38
• Enterprise Value/Ebitda: 16.69
• 1Y Price Target: $193.00
• Price Target Upside: 13.22% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 4

• Rating: 75 Outperform
• Price Target: $196.00 ▲(14.98% Upside)

MSA Safety's strong financial performance and strategic leadership changes are significant strengths. However, technical indicators and valuation suggest moderate growth potential, while earnings call insights highlight both opportunities and challenges. Overall, the company is well-positioned but faces some operational pressures.

Positive Factors

Acquisition Impact

MSA Safety announced the acquisition of M&C TechGroup, a leading provider of gas analysis systems, expanding MSA's fixed gas detection business.

Earnings

MSA posted better-than-expected second-quarter results with revenue exceeding consensus due to operational outperformance and benefits from the acquisition of M&C TechGroup.

Product Growth

Strength in portable gas detection is expected to accelerate MSA’s progress toward its 2028 outlook for roughly $12.00 of adjusted EPS.

Negative Factors

Near-term Headwinds

There are expected headwinds from difficult SCBA comparisons, tariffs, and slowing short-cycle activity in the near term.

Operating Margins

Adjusted operating margins fell reflecting transactional FX, inflation, volume, and tariff headwinds.

Standard Delays

The finalization of new SCBA standards (NFPA 1852) has been delayed following administrative cuts at the regulatory body (NIOSH) earlier this year.

MSA Safety Business Overview & Revenue Model

Company Description

MSA Safety Incorporated develops, manufactures, and supplies safety products that protect people and facility infrastructures in the oil, gas, petrochemical, fire service, construction, industrial manufacturing applications, utilities, military, and mining industries in North America, Latin America, and internationally. The company's core product offerings include permanently installed fixed gas and flame detection instruments, such as permanently installed gas detection monitoring systems, and flame detectors and open-path infrared gas detectors, as well as replacement components and related services to detect the presence or absence of various gases in the air. Its core product offerings also comprise breathing apparatus products, such as self-contained breathing apparatus; hand-held portable gas detection instruments; industrial head protection products; firefighter helmets and protective apparel; and fall protection equipment, including confined space equipment, harnesses, lanyards, and self-retracting lifelines, as well as engineered systems. In addition, the company offers air-purifying respirators, eye and face protection products, ballistic helmets, and gas masks. It serves distributors and end-users through indirect and direct sales channels. The company offers its product under the V-Gard, Cairns, and Gallet brand names. MSA Safety Incorporated was founded in 1914 and is based in Cranberry Township, Pennsylvania.

How the Company Makes Money

MSA generates revenue through the sale of its safety products and services, which include equipment rentals and maintenance. The primary revenue streams consist of direct sales to customers, contracts with government agencies, and partnerships with distributors worldwide. MSA's focus on innovation leads to the development of advanced technologies, such as smart helmets and wireless gas detectors, which command higher price points. Additionally, the company benefits from long-term relationships with key clients in various industries, ensuring steady demand for its safety solutions and contributing to recurring revenue through service contracts and product upgrades.

MSA Safety Financial Statement Overview

Summary

MSA Safety demonstrates a strong financial position with consistent revenue growth, robust profitability, and effective cash flow generation. The improvement in leverage metrics and consistent equity growth highlight financial stability. While operational and cash flow metrics reflect efficiency, minor fluctuations in asset levels and cash flow sustainability warrant attention.

Income Statement

MSA Safety shows robust revenue growth with a consistent increase from $1.35 billion in 2020 to $1.82 billion in TTM. Gross profit margin remains strong at approximately 47.3% for TTM, indicating efficient cost management. The net profit margin for TTM is 15.8%, reflecting healthy profitability. Notably, EBIT and EBITDA margins are also solid, contributing to high operational efficiency. The consistent growth trajectory and strong margins suggest excellent financial health, though slight fluctuations in profitability should be monitored.

Balance Sheet

The balance sheet showcases a healthy equity position with an increasing stockholders' equity, reaching $1.19 billion in TTM. The debt-to-equity ratio has improved significantly from 0.74 in 2020 to 0.04 in TTM, indicating reduced leverage risk. ROE for TTM is strong at 24.1%, suggesting effective use of equity capital. While the equity ratio of 53.2% supports financial stability, the decrease in total assets over the years requires caution.

Cash Flow

Cash flows are strong, with operating cash flow consistently supporting net income, evidenced by an operating cash flow to net income ratio of 1.07 in TTM. Free cash flow remains positive and growing, with a TTM free cash flow of $191.75 million. The free cash flow to net income ratio of 0.67 for TTM indicates robust cash generation relative to earnings, though the decline from the previous year suggests monitoring for sustainability.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	1.83B	1.81B	1.79B	1.53B	1.40B	1.35B
Gross Profit	855.99M	860.45M	852.14M	673.83M	615.35M	590.45M
EBITDA	429.83M	476.23M	314.19M	316.51M	84.68M	217.25M
Net Income	276.97M	284.97M	58.58M	179.63M	21.34M	124.08M
Balance Sheet
Total Assets	2.55B	2.21B	2.17B	2.38B	2.40B	1.87B
Cash, Cash Equivalents and Short-Term Investments	146.99M	164.56M	146.44M	162.90M	140.90M	160.67M
Total Debt	0.00	565.40M	646.19M	572.83M	597.65M	351.80M
Total Liabilities	1.30B	1.06B	1.20B	1.45B	1.56B	1.06B
Stockholders Equity	1.25B	1.14B	966.80M	923.74M	834.39M	809.89M
Cash Flow
Free Cash Flow	252.51M	242.21M	50.09M	113.51M	150.02M	157.65M
Operating Cash Flow	321.29M	296.43M	92.86M	157.46M	199.15M	206.56M
Investing Cash Flow	-256.14M	-53.76M	-39.95M	-4.48M	-415.47M	-72.77M
Financing Cash Flow	-66.99M	-208.69M	-52.25M	-113.35M	203.93M	-126.53M

MSA Safety Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 170.46
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MSA, the sentiment is Positive. The current price of 170.46 is below the 20-day moving average (MA) of 171.34, below the 50-day MA of 173.09, and above the 200-day MA of 162.88, indicating a neutral trend. The MACD of -0.65 indicates Positive momentum. The RSI at 47.11 is Neutral, neither overbought nor oversold. The STOCH value of 35.60 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for MSA.

MSA Safety Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ADT	78 Outperform	$7.33B	12.99	17.13%	2.53%	3.80%	-3.18%
MSA	75 Outperform	$6.74B	24.57	24.23%	1.21%	0.55%	1.85%
REZI	75 Outperform	$5.23B	64.31	-26.27%	―	20.00%	-547.75%
NSSC	73 Outperform	$1.40B	33.43	24.98%	1.30%	-3.81%	-11.48%
BRC	68 Neutral	$3.92B	21.03	16.76%	1.17%	12.84%	-3.06%
BCO	67 Neutral	$4.74B	30.17	56.23%	0.87%	2.17%	25.34%
Sector *	64 Neutral	$10.73B	15.74	7.56%	2.01%	2.76%	-15.10%

MSA Safety Corporate Events

MSA Safety Appoints Julie Beck as New CFO

On August 13, 2025, MSA Safety announced the appointment of Julie A. Beck as Senior Vice President, Chief Financial Officer, and Treasurer, effective August 18, 2025. Ms. Beck, who previously held the CFO position at Terex Corporation, brings extensive global financial experience and expertise in mergers and acquisitions, inflation management, and business transformation. Her leadership is expected to enhance MSA Safety’s financial strategies and operational growth, succeeding interim CFO Elyse Brody, who will continue as Executive Director of Financial Planning and Analysis and Strategy.