Logo

MSA

MSA Safety Incorporated

MSA

MSA Safety Incorporated • NYSE
$161.30 ▲ 0.21% (+0.34)
Market Cap $6.32 B
52w High $182.86
52w Low $127.86
Dividend Yield 2.10%
P/E 22.72
Volume 106.67K
Outstanding Shares 39.15M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $468.444M ▼ $123.295M ▼ $69.613M ▲ 14.86% ▲ $1.77 ▲ $119.457M ▲
Q2-2025 $474.116M ▲ $134.848M ▲ $62.773M ▲ 13.24% ▼ $1.6 ▲ $108.961M ▲
Q1-2025 $421.34M ▼ $115.634M ▼ $59.605M ▼ 14.147% ▼ $1.51 ▲ $101.035M ▼
Q4-2024 $499.697M ▲ $116.785M ▲ $87.946M ▲ 17.6% ▲ $-5 ▼ $140.917M ▲
Q3-2024 $432.679M $115.979M $66.648M 15.404% $1.69 $113.268M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $169.998M ▲ $2.554B ▲ $1.251B ▼ $1.302B ▲
Q2-2025 $146.988M ▼ $2.55B ▲ $1.298B ▲ $1.253B ▲
Q1-2025 $170.617M ▲ $2.236B ▲ $1.046B ▼ $1.19B ▲
Q4-2024 $164.56M ▲ $2.206B ▼ $1.062B ▼ $1.143B ▲
Q3-2024 $154.371M $2.242B $1.147B $1.095B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $69.613M ▲ $112.462M ▲ $-11.986M ▲ $-71.805M ▼ $22.981M ▲ $100.476M ▲
Q2-2025 $62.773M ▲ $67.218M ▲ $-217.107M ▼ $119.591M ▲ $-23.349M ▼ $37.884M ▼
Q1-2025 $59.605M ▼ $61.833M ▼ $-10.766M ▲ $-45.612M ▲ $6.198M ▼ $51.049M ▼
Q4-2024 $87.946M ▲ $107.908M ▲ $-14.031M ▲ $-72.517M ▼ $10.127M ▲ $93.499M ▲
Q3-2024 $66.648M $84.332M $-14.238M $-68.454M $6.135M $70.078M

Revenue by Products

Product Q4-2022Q1-2023Q2-2023Q3-2023
Other Products
Other Products
 $40.00M ▲$40.00M ▲$40.00M ▲$40.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has climbed steadily over the past five years, showing a business with durable demand rather than rapid, speculative growth. Profitability, however, has been more uneven. Gross profits are healthy, but operating and net income have moved around from year to year, reflecting one‑time charges, cost pressures, or integration spending. The most recent year shows a clear step‑up in earnings power, with stronger margins and much higher profit per share than in the prior couple of years. Overall, the trend is positive: a stable top line gradually shifting toward higher efficiency and better profitability, but with a history of earnings volatility that is worth keeping in mind.

Balance Sheet

Balance Sheet The balance sheet looks relatively solid and conservative. Total assets have held fairly steady, and shareholders’ equity has grown, indicating retained value building over time. Debt is meaningful but not excessive for an industrial company and has edged down from its recent peak, while cash levels have stayed fairly consistent. This points to a company that uses leverage, but not in an aggressive way, and appears to maintain a reasonable financial cushion to support operations, investment, and downturns.

Cash Flow

Cash Flow MSA has consistently generated positive operating cash flow, though the level has bounced around. Even in softer earnings years, the business still produced cash, suggesting that the underlying operations are sound. Free cash flow has remained positive throughout the period and has generally been sufficient to cover regular capital spending with room left over for dividends, debt service, or acquisitions. Capital expenditures have been steady and manageable, supporting ongoing investment without straining liquidity. The most recent year shows notably stronger cash generation, aligning with the earnings improvement.

Competitive Edge

Competitive Edge MSA operates in mission‑critical safety products where reliability and trust matter as much as price. Its long history, strong brand, and deep relationships with fire services and industrial customers give it a durable edge. The move toward connected platforms – integrating devices, sensors, and cloud software – meaningfully raises switching costs once customers adopt the ecosystem. This makes it harder for rivals to displace MSA with standalone products. Global reach and the need to meet strict regulatory and safety standards also create barriers to entry. At the same time, competition from large diversified players and specialized safety firms remains a real factor, and rapid technology shifts mean MSA must keep executing well to maintain its lead.

Innovation and R&D

Innovation and R&D Innovation is central to MSA’s strategy. The company invests a meaningful share of its sales into R&D and has focused heavily on turning traditional safety gear into smart, connected systems. Products like the LUNAR device, connected SCBA gear, and ALTAIR gas detectors, all tied into cloud platforms, show a clear push toward data‑driven, predictive safety solutions rather than just hardware. This approach can deepen customer loyalty and open software and service revenue streams. MSA also supplements internal R&D with targeted acquisitions to add capabilities in areas like gas analysis. The opportunity is to shape industry standards and stay ahead of competitors; the risk is that execution missteps, integration challenges, or cybersecurity issues could blunt the payoff from that innovation spend.

Summary

Overall, MSA looks like a mature industrial technology company with steady revenue growth, improving recent profitability, and consistently positive free cash flow. Its balance sheet appears reasonably strong, with moderate leverage and a growing equity base. Strategically, the shift from stand‑alone equipment to an integrated, connected safety ecosystem gives the company a distinctive competitive position and the potential for more recurring, higher‑margin business over time. Key things to watch include how consistently MSA can translate its innovation into stable earnings growth, how well it manages acquisitions and integration, and how effectively it navigates competition and customer budget cycles in its highly regulated, safety‑critical markets.

NEWS

November 26, 2025 · 4:30 PM UTC

SmartStop Self Storage REIT, Inc. Grows Presence in Orlando MSA With Acquisition of Winter Garden Facility

Read more

November 5, 2025 · 4:30 PM UTC

MSA Safety to Participate in Upcoming Investor Conferences

Read more

November 4, 2025 · 8:15 AM UTC

Breathing Apparatus from MSA Safety Now Certified as Compliant to the 2025 NFPA Standard

Read more

October 31, 2025 · 8:30 AM UTC

MSA Safety Declares Quarterly Dividend

Read more

October 31, 2025 · 7:25 AM UTC

Alterity Therapeutics: Appendix 4C – Q1 FY26 Quarterly Cash Flow Report

Read more