MSA Safety (MSA) AI Stock Analysis

• Market Cap: $6.95B
• Dividend Yield: 1.14%
• Average Volume (3M): 203.62K
• Price to Earnings (P/E): 24.5
• Beta (1Y): 0.92
• Revenue Growth: 0.75%
• EPS Growth: 7.20%
• Country: US
• Employees: 5,000
• Sector: Industrials
• Sector Strength: 93
• Industry: Security & Protection Services
• EPS (TTM): 1.68
• Shares Outstanding: 39,305,893
• 10 Day Avg. Volume: 162,927
• 30 Day Avg. Volume: 203,615
• PEG Ratio: N/A
• Price to Book (P/B): 5.69
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 26.67
• Enterprise Value/Market Cap: 1.02
• Enterprise Value/Revenue: 0.98
• Enterprise Value/Gross Profit: 8.26
• Enterprise Value/Ebitda: 3.78
• 1Y Price Target: $182.20
• Price Target Upside: 1.21% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 6

• Rating: 78 Outperform
• Price Target: $198.00 ▲(9.98%Upside)

MSA Safety's strong financial performance and strategic acquisition are significant positives, supporting its position in the industry. However, high valuation and technical indicators suggest caution due to potential overbought conditions. The balanced sentiment from the earnings call and challenges such as tariff impacts and margin contraction also moderate the overall score.

Positive Factors

Financial Performance

First-quarter adjusted EPS were above the consensus estimate, benefiting from adjusted operating margins above the consensus estimate and higher-than-expected revenue.

Growth Opportunities

There is a positive long-term view on the shares due to the upcoming SCBA replacement cycle and opportunities to grow recurring software and subscription revenue.

Market Expansion

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

Negative Factors

Macroeconomic Risks

Management noted increased risk due to macroeconomic factors impacting the low-single-digit organic revenue growth guidance for the full year.

Regulatory Delays

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

Short-Term Challenges

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

MSA Safety Business Overview & Revenue Model

Company Description

MSA Safety (MSA) is a global leader in the development, manufacture, and supply of safety products that protect people and facility infrastructures. The company operates in sectors such as oil, gas, petrochemical, construction, mining, and fire service. MSA's core products include self-contained breathing apparatus, fixed gas and flame detection systems, portable gas detection instruments, industrial head protection products, firefighter protective apparel, and fall protection devices. Founded in 1914, MSA is committed to providing innovative safety solutions worldwide.

How the Company Makes Money

MSA Safety makes money primarily through the sale of its safety products and solutions. The company's revenue streams are largely derived from its wide range of safety equipment designed for industrial use, including gas detection systems, respiratory protection equipment, head protection, and fall protection devices. MSA serves a diverse customer base in industries such as oil and gas, firefighting, construction, and mining. Key revenue drivers include new product innovations, the expansion of its product portfolio, and long-term service contracts for equipment maintenance and monitoring. Additionally, MSA benefits from strategic partnerships and collaborations that enhance its market reach and product offerings.

MSA Safety Financial Statement Overview

Summary

MSA Safety demonstrates strong financial health with consistent revenue growth, robust profitability, and effective cash flow generation. The improvement in leverage metrics and consistent equity growth highlight financial stability. However, 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	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	1.81B	1.79B	1.53B	1.40B	1.35B
Gross Profit	860.45M	852.14M	673.83M	615.35M	590.45M
EBITDA	476.23M	314.19M	316.51M	84.68M	217.25M
Net Income	284.97M	58.58M	179.63M	21.34M	124.08M
Balance Sheet
Total Assets	2.21B	2.17B	2.38B	2.40B	1.87B
Cash, Cash Equivalents and Short-Term Investments	164.56M	146.44M	162.90M	140.90M	160.67M
Total Debt	554.00M	646.19M	572.83M	597.65M	351.80M
Total Liabilities	1.06B	1.20B	1.45B	1.56B	1.06B
Stockholders Equity	1.14B	966.80M	923.74M	834.39M	809.89M
Cash Flow
Free Cash Flow	242.21M	50.09M	113.51M	150.02M	157.65M
Operating Cash Flow	296.43M	92.86M	157.46M	199.15M	206.56M
Investing Cash Flow	-53.76M	-39.95M	-4.48M	-415.47M	-72.77M
Financing Cash Flow	-208.69M	-52.25M	-113.35M	203.93M	-126.53M

MSA Safety Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 180.03
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

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 180.03 is above the 20-day moving average (MA) of 173.65, above the 50-day MA of 167.45, and above the 200-day MA of 162.71, indicating a bullish trend. The MACD of 3.01 indicates Negative momentum. The RSI at 67.86 is Neutral, neither overbought nor oversold. The STOCH value of 88.73 is Negative, 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
NSSC	79 Outperform	$1.06B	24.18	27.48%	1.69%	-1.05%	-2.78%
MSA	78 Outperform	$6.95B	24.50	26.22%	1.14%	0.75%	7.20%
BRC	77 Outperform	$3.33B	17.37	17.80%	1.37%	8.62%	3.59%
ADT	76 Outperform	$7.25B	12.63	17.13%	2.61%	3.80%	-3.18%
REZI	76 Outperform	$3.61B	61.80	2.58%	―	14.02%	-69.91%
BCO	72 Outperform	$3.92B	25.31	54.50%	1.07%	1.97%	41.88%
Sector *	65 Neutral	$11.05B	15.76	5.13%	1.92%	3.11%	-24.90%

MSA Safety Corporate Events

MSA Safety Elects New Directors at Annual Meeting

At the annual meeting of shareholders held on May 13, 2025, MSA Safety Incorporated elected Robert A. Bruggeworth, Gregory B. Jordan, and William R. Sperry as directors to serve until 2028. Ernst & Young LLP was selected as the independent registered public accounting firm for 2025, and the advisory vote approved the executive compensation for the company’s named executive officers.

The most recent analyst rating on (MSA) stock is a Buy with a $200.00 price target. To see the full list of analyst forecasts on MSA Safety stock, see the MSA Stock Forecast page.

MSA Safety Completes Acquisition of M&C TechGroup

On May 6, 2025, MSA Europe Holdings GmbH, a subsidiary of MSA Safety Incorporated, completed the acquisition of M&C TechGroup Germany GmbH for approximately $200 million. This acquisition is expected to enhance MSA’s detection solutions and expand its capabilities in the gas analysis and process safety markets. M&C TechGroup, with annual revenues of about $55 million, complements MSA’s existing technology and customer base. The transaction aligns with MSA’s strategy to grow its detection business and is anticipated to be accretive to its adjusted earnings in 2025. The acquisition positions MSA as a leading provider of gas analysis solutions, leveraging M&C’s expertise and MSA’s global distribution network to optimize processes and enhance safety across various industries.