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Stock research / United States / MSA · Orthopedic, Prosthetic & Surgical Appliances & Supplies · NYSE

MSA Safety Inc. (MSA)

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MSA Safety Inc. (MSA) reported revenue of $503 million for Q2 FY2026, the quarter ended 30 June 2026, up 6.2% on the same quarter a year earlier. Net income was $86 million, up 37.3% on the year, and diluted earnings per share $2.23. The figures are the company's own, from the 10-Q it filed with the SEC on 31 July 2026.

Revenue$503 millionup 6.2%
Net income$86 millionup 37.3%
Diluted EPS$2.23
QuarterQ2 FY2026ended 30 June 2026

MSA Safety (MSA) in brief

MSA Safety (MSA) reported revenue of $1.9 billion for fiscal 2025, the year ended 31 December 2025, up 3.7% on the year before.
Read moreNet income was $279 million and diluted earnings per share $7.09. Revenue was $1.8 billion in fiscal 2024, $1.8 billion in fiscal 2023, $1.5 billion in fiscal 2022 and $1.4 billion in fiscal 2021. Net income in the same years was $285 million, $59 million, $180 million and $21 million. Over the twelve months to 30 June 2026, MSA Safety reported revenue of $1.9 billion and net income of $314 million. Revenue grew 6.8% a year, compounded, over the five years to fiscal 2025. MSA Safety declared $2.10 a share in dividends over the last four quarters and had 39 million shares outstanding at the latest filed count. At 30 June 2026 it carried $600 million of debt and $200 million of cash. At the close of 8 October 2026 the market cap of MSA Safety was $6.9 billion, 22.2 times its earnings over the last twelve months.

Ratios

From the filings

ROE22.4%
ROCE20.6%
Operating margin21.2%
Net margin16.1%
FCF margin18.2%
Interest cover12.71
Debt to equity0.43
Cash conversion1.29
Share count, 1 year-1.4%
Sales CAGR, 3 years7.1%
Profit CAGR, 3 years15.8%
EPS, TTM$8.04

At the close of 8 October 2026

Price$178.10
Market cap$6.9 billion
Stock P/E22.15
Price to book4.91
EV / EBITDA14.91
Dividend yield1.2%
Market cap / sales3.53
52-week high$203.08
52-week low$152.94
Price, 1 year2.6%
Price CAGR, 3 years4.5%
Price CAGR, 5 years3.7%
Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest daily close from SimFin. Debt to equity here stands on long-term debt as MSA Safety Inc. files it, with lease liabilities counted separately and never inside it. Nothing here is a valuation or a view.
MSAgreeksoup.ai
Daily closes to 8 October 2026, adjusted for splits; prices from SimFin.
Read moreDay by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on MSA

Filings18 in twelve months: 10 current reports (8-K), about 4 results of operations; 2 officer or director change; 2 other events; 1 shareholder vote; 1 material agreement
Planned insider sales2 Form 144 notices in twelve months, $4.5 million; latest 18 August 2026
Options tapeput/call 0.4 by open interest at the 8 October 2026 close; the straddle prices a 3.4% move to 16 October 2026
13F holders8 of the followed funds hold it; largest Geode Capital Management; 2 Schedule 13D or 13G filings in twelve months
Insider trading4 sales and 1 purchase on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest877,763 shares short, 4.24 days to cover at 15 September 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025Q1 FY2026Q2 FY2026
Revenue447495413462433500421474468511464503
Cost of revenue228257218239225265228253251272244254
Gross profit219238196223207234193221218239220249
Gross margin49%48%47%48%48%47%46%47%46%47%47%50%
R&D17.719.115.917.116.716.815.717.016.516.216.419.2
SG&A10210794.210595.110094.0112103105108114
Operating income94.110280.199.991.511877.885.994.311493.0112
Operating margin21%21%19%22%21%24%18%18%20%22%20%22%
Interest expense12.59.610.79.79.27.36.88.18.48.47.78.0
Pre-tax income87.799.375.694.488.211777.982.792.511393.0111
Tax rate26%23%23%24%24%25%24%24%25%23%23%23%
Net income65.376.458.172.266.687.959.662.869.686.971.386.2
Net margin15%15%14%16%15%18%14%13%15%17%15%17%
Diluted EPS$1.65$1.93$1.47$1.83$1.69$2.22$1.51$1.59$1.77$2.21$1.83$2.23
Operating cash flow12515950.953.384.310861.867.211212275.795.4
Capital expenditure12.711.811.214.314.314.410.829.312.016.310.612.7
Free cash flow11214739.739.070.193.551.037.910010665.182.7
Dividends paid18.518.518.520.120.120.120.020.820.820.720.620.9
Shares outstanding39m39m39m39m39m39m39m39m39m39m39m39m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read moreMoney is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss), 12 fiscal years and the trailing twelve months

FY2014 †FY2015 †FY2016 †FY2017 †FY2018FY2019 †FY2020 †FY2021FY2022FY2023 †FY2024FY2025TTM
Revenue1,1341,1301,1501,1971,3581,4021,3481,4001,5281,7881,8081,8751,946
Cost of revenue6196306276587467637537858549369481,0041,020
Gross profit515501522539612639595615674852860871926
Gross margin45.4%44.3%45.4%45.0%45.1%45.6%44.2%43.9%44.1%47.7%47.6%46.5%47.6%
Research and development48.248.646.850.152.757.858.357.857.068.066.565.368.2
Selling, general and administrative323315308300325331290333339397395414430
Operating income13412316139.617318817222.8239231389372413
Operating margin11.8%10.9%14.0%3.3%12.8%13.4%12.7%1.6%15.7%12.9%21.5%19.8%21.2%
Interest expense9.910.916.415.418.913.69.410.821.746.736.931.832.5
Pre-tax income12711115229.816218616823.6239207375366410
Income tax41.044.457.82.837.246.543.01.858.914890.087.596.1
Effective tax rate32.3%40.0%38.1%9.5%22.9%25.1%25.6%7.7%24.7%71.7%24.0%23.9%23.4%
Net income88.570.891.926.012413812421.318058.6285279314
Net margin7.8%6.3%8.0%2.2%9.1%9.8%9.2%1.5%11.8%3.3%15.8%14.9%16.1%
Diluted EPS$2.33$1.87$2.42$0.67$3.18$3.52$3.15$0.54$4.56$1.48$7.21$7.09$8.04
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Revenue by region

FY2023FY2024FY2025Share
latest year
United States96195594350.3%
Other82785393149.7%
United StatesOther
1,788FY20231,808FY20241,875FY2025

$ million; hover a block for its figure and share

From the latest 10-K, in the company's own words.
Read moreA year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Cash flow and capital returned

FY2014 †FY2015 †FY2016 †FY2017 †FY2018FY2019 †FY2020 †FY2021FY2022FY2023 †FY2024FY2025TTM
Operating cash flow10755.313523026416520719915792.9296364406
Capital expenditure33.636.225.523.734.036.648.943.842.642.854.268.451.6
Free cash flow73.419.010920723012815815511550.1242295354
Free cash flow margin6.5%1.7%9.5%17.3%16.9%9.2%11.7%11.1%7.5%2.8%13.4%15.8%18.2%
Cash from investing-30.7-208-25.5-239-84.4-64.2-72.8-415-4.5-40.0-53.8-258-53.0
Cash from financing-58.1165-99.325.6-163-84.6-127204-113-52.3-209-105-285
Depreciation and amortisation29.832.735.337.937.938.039.745.447.160.864.371.674.9
Share-based compensation9.17.69.211.812.213.86.918.919.630.018.215.218.8
Dividends paid45.647.449.152.557.263.566.668.671.573.578.882.382.9
Dividend per sharen/an/an/an/an/a$1.64$1.71$1.75$1.82$1.87$2.00$2.10n/a
Diluted shares, weighted38m38m38m39m39m39m39m39m39m39m40m39m39m
Shares outstanding at period end37m37m38m38m39m39m39m39m39m39m39m39m39m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2014 †FY2015 †FY2016 †FY2017 †FY2018FY2019 †FY2020 †FY2021FY2022FY2023 †FY2024FY2025TTM
Funded by
Shareholders' equity5345165585986347268398349249671,1431,3671,402
Non-controlling interest4.80.63.05.05.66.88.00.0n/an/an/an/an/a
Short-term borrowings0.1n/an/an/an/an/an/an/an/an/an/an/an/a
Debt252465391474361348307598573602508581600
Operating lease liabilitiesn/an/an/an/a0.042.644.640.735.344.546.046.243.8
Other liabilities474443402608607658721924845557508560556
Total liabilities and equity1,2651,4251,3541,6851,6081,7821,9202,3962,3772,1702,2062,5542,602
Owned
Fixed assets151156149157158167190208208212212283277
Goodwill253340333422414437443637621628621732726
Intangible assets31.390.177.0183170171161307282266246299286
Cash and equivalents106106114134140152161141163146165165200
Receivables211233210244245255252254297295279306348
Inventory123126103154157185245281338293297343350
Other assets389374369390325414468569469331386426415
Total assets1,2651,4251,3541,6851,6081,7821,9202,3962,3772,1702,2062,5542,602
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded5.2%6.8%7.1%6.5%
Profit growth, compounded14.7%17.6%15.8%13.4%
Return on equity, average14.8%14.7%17.1%20.4%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Peers: Medical Equipment

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Intuitive Surgical Inc. ISRG$147.0 billion47.5817.3%31.3%20.7%0.00n/a
Edwards Lifesciences Corp. EW$48.6 billion48.419.5%22.3%14.6%0.06n/a
Steris plc STE$20.5 billion25.7711.2%18.9%8.4%0.261.2%
Zimmer Biomet Holdings, Inc. ZBH$17.0 billion21.576.4%14.2%8.6%0.501.1%
Smith & Nephew plc SNN *$11.8 billion18.8311.8%12.9%6.1%0.592.8%
Cooper Companies, Inc. COO$10.3 billion18.536.8%12.8%4.7%0.310.0%
Align Technology Inc. ALGN$10.0 billion24.539.8%13.2%4.4%0.00n/a
Globus Medical Inc. GMED$9.8 billion18.7511.2%20.3%19.7%0.00n/a
Insulet Corp. PODD$9.3 billion25.1326.4%16.9%29.4%0.65n/a
MSA Safety Inc. MSA$6.9 billion22.1522.4%21.2%6.5%0.431.2%
Haemonetics Corp. HAE$5.4 billion58.5611.5%11.9%0.4%1.42n/a
LivaNova plc LIVN$4.2 billion22.4614.2%12.7%12.4%0.22n/a
All 27 in Medical Equipment
CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Intuitive Surgical Inc. ISRG$147.0 billion47.5817.3%31.3%20.7%0.00n/a
Medtronic plc MDT$112.3 billion21.6110.4%18.1%9.8%0.513.2%
Stryker Corp. SYK$106.2 billion28.7015.5%21.4%8.5%0.621.3%
3M Co. MMM$84.4 billion29.06101.5%18.4%2.3%3.691.8%
Boston Scientific Corp. BSX$60.9 billion17.0214.7%19.8%13.5%0.44n/a
Becton Dickinson & Co. BDX$49.8 billion55.053.9%9.6%-2.6%0.552.3%
Edwards Lifesciences Corp. EW$48.6 billion48.419.5%22.3%14.6%0.06n/a
Resmed Inc. RMD$32.7 billion21.7423.1%33.4%9.9%0.101.1%
Dexcom Inc. DXCM$31.9 billion33.3638.1%22.9%15.5%0.47n/a
GE HealthCare Technologies Inc. GEHC$29.2 billion14.7318.1%12.9%6.5%0.920.2%
West Pharmaceutical Services Inc. WST$25.6 billion46.5118.9%20.5%12.4%0.070.2%
Koninklijke Philips N.V. PHG *$23.4 billion23.218.2%8.0%-1.0%0.741.6%
Steris plc STE$20.5 billion25.7711.2%18.9%8.4%0.261.2%
Zimmer Biomet Holdings, Inc. ZBH$17.0 billion21.576.4%14.2%8.6%0.501.1%
Solventum Corp. SOLV$14.6 billion10.5029.9%25.0%-0.9%1.06n/a
Penumbra Inc. PEN$12.5 billion78.0110.5%12.4%17.6%0.00n/a
Baxter International Inc. BAX$12.4 billionn/a-17.1%-2.4%5.4%1.522.2%
Smith & Nephew plc SNN *$11.8 billion18.8311.8%12.9%6.1%0.592.8%
Cooper Companies, Inc. COO$10.3 billion18.536.8%12.8%4.7%0.310.0%
Align Technology Inc. ALGN$10.0 billion24.539.8%13.2%4.4%0.00n/a
Globus Medical Inc. GMED$9.8 billion18.7511.2%20.3%19.7%0.00n/a
Insulet Corp. PODD$9.3 billion25.1326.4%16.9%29.4%0.65n/a
MSA Safety Inc. MSA$6.9 billion22.1522.4%21.2%6.5%0.431.2%
Haemonetics Corp. HAE$5.4 billion58.5611.5%11.9%0.4%1.42n/a
LivaNova plc LIVN$4.2 billion22.4614.2%12.7%12.4%0.22n/a
Envista Holdings Corp. NVST$3.6 billion39.173.1%9.6%11.9%0.47n/a
Dentsply Sirona Inc. XRAY$1.7 billionn/a-40.4%-8.5%-0.8%1.487.4%
6 companies share its SEC industry code (Orthopedic, Prosthetic & Surgical Appliances & Supplies); the rest are the names nearest in size in its wider industry, Medical Equipment, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

Filings

FilingPeriodFiledWhere
10-Q30 June 202631 July 2026EDGAR
10-Q31 March 20265 May 2026EDGAR
10-K31 December 202512 February 2026EDGAR
10-Q30 September 202529 October 2025EDGAR
10-Q30 June 20255 August 2025EDGAR
10-Q31 March 20251 May 2025EDGAR
10-K31 December 202414 February 2025EDGAR
10-Q30 September 202424 October 2024EDGAR
10-Q30 June 202425 July 2024EDGAR
10-Q31 March 202430 April 2024EDGAR

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