MSA

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MSA Safety Inc.

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Key Metrics

Previous Close: $189.43
52-Week Range: $151.11 – $208.92
Market Cap: $7.27B
P/E (TTM): 23.47
EPS (TTM): 8.03
Dividend Yield: 1.14%

Advanced Metrics

Price/Book: 5.20
PEG Ratio: 0.99
Return on Equity: 23.66%
Return on Assets: 11.07%
Gross Margin: 47.57%
Operating Margin: 24.59%
Profit Margin: 16.13%
Current Ratio: 3.24
Debt/Equity: 0.46
Total Debt: $643.51M
Free Cash Flow: $316.46M
Revenue Growth: 6.20%
Earnings Growth: 40.30%
Enterprise Value: $7.75B

MSA Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$1.53B	$1.79B	$1.81B	$1.87B
Cost of Revenue	$854.12M	$935.51M	$947.70M	$1.00B
Gross Profit	$673.83M	$852.14M	$860.45M	$871.11M
Research & Development	$57.01M	$67.99M	$66.53M	$65.34M
Selling, General & Admin	$338.87M	$396.64M	$394.71M	$414.25M
Operating Expenses	$395.88M	$464.63M	$461.23M	$479.60M
Operating Income	$277.95M	$387.50M	$399.21M	$391.52M
EBITDA	$316.51M	$314.19M	$476.23M	$469.79M
Pretax Income	$238.53M	$206.69M	$375.01M	$366.40M
Income Tax	$58.90M	$148.10M	$90.04M	$87.47M
Net Income	$179.63M	$58.58M	$284.97M	$278.92M
Diluted EPS	4.56	1.48	7.21	7.09
Diluted Shares	39.41M	39.47M	39.53M	39.35M

MSA Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$162.90M	$146.44M	$164.56M	$165.07M
Receivables	$302.96M	$294.68M	$279.21M	$306.45M
Inventory	$338.32M	$292.60M	$296.80M	$343.04M
Current Assets	$880.13M	$786.27M	$803.03M	$869.29M
Total Assets	$2.38B	$2.17B	$2.21B	$2.55B
Current Liabilities	$345.87M	$332.82M	$288.09M	$289.21M
Long-Term Debt	$565.45M	$575.17M	$481.62M	$572.71M
Total Debt	$608.18M	$646.19M	$554.00M	$627.09M
Total Liabilities	$1.45B	$1.20B	$1.06B	$1.19B
Retained Earnings	$1.16B	$1.14B	$1.35B	$1.55B
Shareholders' Equity	$923.74M	$966.80M	$1.14B	$1.37B
Working Capital	$534.26M	$453.45M	$514.94M	$580.08M
Net Debt	$409.93M	$455.25M	$343.45M	$415.87M

MSA Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	$157.46M	$92.86M	$296.43M	$363.87M
Capital Expenditure	-$43.94M	-$42.76M	-$54.22M	-$68.44M
Free Cash Flow	$113.51M	$50.09M	$242.21M	$295.43M
Depreciation & Amortisation	$56.32M	$60.77M	$64.33M	$71.59M
Stock-Based Compensation	$19.65M	$30.02M	$18.18M	$15.20M
Investing Cash Flow	-$4.48M	-$39.95M	-$53.76M	-$257.63M
Financing Cash Flow	-$113.35M	-$52.25M	-$208.69M	-$105.47M
Dividends Paid	-$71.50M	-$73.49M	-$78.76M	-$82.34M
Share Repurchases	-$34.39M	-$3.96M	-$37.34M	-$89.96M
Net Change in Cash	$39.62M	$651.00K	$33.98M	$768.00K

MSA Income statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Revenue	$474.12M	$468.44M	$510.91M	$463.63M	—
Cost of Revenue	$253.41M	$250.83M	$271.52M	$244.05M	—
Gross Profit	$220.71M	$217.62M	$239.39M	$219.58M	—
Research & Development	$17.00M	$16.52M	$16.16M	$16.36M	—
Selling, General & Admin	$112.08M	$102.85M	$105.36M	$107.68M	—
Operating Expenses	$129.07M	$119.37M	$121.52M	$124.04M	—
Operating Income	$91.64M	$98.24M	$117.88M	$95.54M	—
EBITDA	$108.96M	$119.46M	$140.34M	$119.05M	—
Pretax Income	$82.75M	$92.46M	$113.25M	$92.99M	—
Income Tax	$19.97M	$22.84M	$26.32M	$21.72M	—
Net Income	$62.77M	$69.61M	$86.93M	$71.27M	—
Diluted EPS	1.59	1.77	2.21	1.83	2.23
Diluted Shares	39.36M	39.28M	39.25M	38.99M	38.70M

MSA Balance Sheet statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Cash & Equivalents	$170.62M	$146.99M	$170.00M	$165.07M	$180.16M
Receivables	$294.42M	$333.75M	$306.95M	$306.45M	$325.01M
Inventory	$306.68M	$343.88M	$355.49M	$343.04M	$352.31M
Current Assets	$823.16M	$887.46M	$894.77M	$869.29M	$891.67M
Total Assets	$2.24B	$2.55B	$2.55B	$2.55B	$2.56B
Current Liabilities	$280.44M	$285.46M	$290.27M	$289.21M	$281.27M
Long-Term Debt	$469.17M	$670.97M	$620.37M	$572.71M	$605.08M
Total Debt	$547.74M	$725.93M	$674.40M	$627.09M	$658.35M
Total Liabilities	$1.05B	$1.30B	$1.25B	$1.19B	$1.21B
Retained Earnings	$1.39B	$1.43B	$1.48B	$1.55B	$1.60B
Shareholders' Equity	$1.19B	$1.25B	$1.30B	$1.37B	$1.36B
Working Capital	$542.72M	$602.00M	$604.50M	$580.08M	$610.40M
Net Debt	$331.44M	$532.36M	$458.58M	$415.87M	$432.99M

MSA Cash Flow statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Operating Cash Flow	$61.83M	$67.22M	$112.46M	$122.35M	$75.69M
Capital Expenditure	-$10.78M	-$29.33M	-$11.99M	-$16.33M	-$10.59M
Free Cash Flow	$51.05M	$37.88M	$100.48M	$106.02M	$65.10M
Depreciation & Amortisation	$16.25M	$18.10M	$18.59M	$18.66M	$18.35M
Stock-Based Compensation	$2.63M	$5.37M	$3.35M	$3.85M	$3.81M
Investing Cash Flow	-$10.77M	-$217.11M	-$11.99M	-$17.77M	-$10.55M
Financing Cash Flow	-$45.61M	$119.59M	-$71.81M	-$107.64M	-$47.22M
Dividends Paid	-$20.03M	-$20.85M	-$20.76M	-$20.71M	-$20.56M
Share Repurchases	-$18.34M	-$30.53M	-$1.15M	-$39.94M	-$60.44M
Net Change in Cash	$5.46M	-$30.30M	$28.67M	-$3.06M	$17.91M

Market Snapshot

About

Manufacturer of safety products and equipment including gas detection systems, firefighting gear, fall protection, head protection, and breathing apparatus. Serves industries like oil and gas, construction, mining, fire service, and utilities with life-saving protective equipment.