(MSA) MSA Safety - Ratings and Ratios
Respirators, Helmets, Harnesses, Detectors, Masks
Dividends
| Dividend Yield | 1.29% |
| Yield on Cost 5y | 1.49% |
| Yield CAGR 5y | 3.99% |
| Payout Consistency | 90.9% |
| Payout Ratio | 26.9% |
| Risk via 10d forecast | |
|---|---|
| Volatility | 22.0% |
| Value at Risk 5%th | 34.6% |
| Relative Tail Risk | -4.36% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | -0.37 |
| Alpha | -19.89 |
| CAGR/Max DD | 0.27 |
| Character TTM | |
|---|---|
| Hurst Exponent | 0.380 |
| Beta | 0.750 |
| Beta Downside | 0.623 |
| Drawdowns 3y | |
|---|---|
| Max DD | 34.28% |
| Mean DD | 10.55% |
| Median DD | 10.46% |
Description: MSA MSA Safety November 06, 2025
MSA Safety Inc. (NYSE: MSA) designs, manufactures and distributes a broad portfolio of personal-protective equipment and gas-detection technologies, ranging from self-contained breathing apparatus and firefighter helmets to fixed-site infrared gas monitors and fall-protection harnesses. The company sells primarily through distributors and a mix of indirect and direct channels, serving fire-service, energy, utility, construction, industrial manufacturing, and HVAC-R markets under the V-Gard, Cairns and Gallet brands.
Key operating metrics (FY 2023): revenue ≈ $2.3 billion, operating margin ≈ 13 %, EPS $5.30, dividend yield ~ 1.5 %, and ROIC ≈ 12 %. The business is highly sensitive to construction-spending cycles and to regulatory drivers such as OSHA and EPA safety standards, which historically boost demand for certified PPE and gas-monitoring solutions. A recent acquisition of Gallet (2022) expanded MSA’s ballistic-helmet footprint, adding a higher-margin defense segment that now contributes roughly 8 % of total sales.
Given the firm’s exposure to cyclical construction activity and the secular trend toward stricter workplace-safety regulations, analysts should monitor U.S. construction-spending reports and any changes to OSHA compliance rules as leading indicators of top-line growth. For a deeper quantitative dive, the ValueRay platform provides a granular breakdown of MSA’s valuation metrics and peer comparisons.
Piotroski VR‑10 (Strict, 0-10) 5.0
| Net Income (279.9m TTM) > 0 and > 6% of Revenue (6% = 111.8m TTM) |
| FCFTA 0.11 (>2.0%) and ΔFCFTA -2.12pp (YES ≥ +1.0pp, WARN ≥ +0.5pp) |
| NWC/Revenue 32.44% (prev 29.28%; Δ 3.15pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp) |
| CFO/TA 0.14 (>3.0%) and CFO 349.4m > Net Income 279.9m (YES >=105%, WARN >=100%) |
| Net Debt (504.4m) to EBITDA (470.4m) ratio: 1.07 <= 3.0 (WARN <= 3.5) |
| Current Ratio 3.08 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active) |
| Outstanding Shares last Quarter (39.4m) change vs 12m ago -0.34% (target <= -2.0% for YES) |
| Gross Margin 46.48% (prev 47.91%; Δ -1.43pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0) |
| Asset Turnover 77.72% (prev 80.46%; Δ -2.73pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0) |
| Interest Coverage Ratio 13.05 (EBITDA TTM 470.4m / Interest Expense TTM 30.7m) >= 6 (WARN >= 3) |
Altman Z'' 6.03
| (A) 0.24 = (Total Current Assets 894.8m - Total Current Liabilities 290.3m) / Total Assets 2.55b |
| (B) 0.58 = Retained Earnings (Balance) 1.48b / Total Assets 2.55b |
| (C) 0.17 = EBIT TTM 400.7m / Avg Total Assets 2.40b |
| (D) 1.39 = Book Value of Equity 1.74b / Total Liabilities 1.25b |
| Total Rating: 6.03 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D) |
ValueRay F-Score (Strict, 0-100) 81.07
| 1. Piotroski 5.0pt |
| 2. FCF Yield 4.15% |
| 3. FCF Margin 15.18% |
| 4. Debt/Equity 0.52 |
| 5. Debt/Ebitda 1.07 |
| 6. ROIC - WACC (= 8.75)% |
| 7. RoE 22.91% |
| 8. Rev. Trend 69.16% |
| 9. EPS Trend 62.58% |
What is the price of MSA shares?
Over the past week, the price has changed by +0.04%, over one month by +0.96%, over three months by -3.73% and over the past year by -6.74%.
Is MSA a buy, sell or hold?
- Strong Buy: 3
- Buy: 0
- Hold: 2
- Sell: 0
- Strong Sell: 0
What are the forecasts/targets for the MSA price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 189.5 | 16.7% |
| Analysts Target Price | 189.5 | 16.7% |
| ValueRay Target Price | 164.7 | 1.4% |
MSA Fundamental Data Overview December 02, 2025
P/E Trailing = 22.7183
P/S = 3.3887
P/B = 4.8623
P/EG = 1.7
Beta = 0.959
Revenue TTM = 1.86b USD
EBIT TTM = 400.7m USD
EBITDA TTM = 470.4m USD
Long Term Debt = 620.4m USD (from longTermDebt, last quarter)
Short Term Debt = 8.21m USD (from shortTermDebt, last quarter)
Debt = 674.4m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 504.4m USD (from netDebt column, last quarter)
Enterprise Value = 6.82b USD (6.32b + Debt 674.4m - CCE 170.0m)
Interest Coverage Ratio = 13.05 (Ebit TTM 400.7m / Interest Expense TTM 30.7m)
FCF Yield = 4.15% (FCF TTM 282.9m / Enterprise Value 6.82b)
FCF Margin = 15.18% (FCF TTM 282.9m / Revenue TTM 1.86b)
Net Margin = 15.02% (Net Income TTM 279.9m / Revenue TTM 1.86b)
Gross Margin = 46.48% ((Revenue TTM 1.86b - Cost of Revenue TTM 997.4m) / Revenue TTM)
Gross Margin QoQ = 46.46% (prev 46.55%)
Tobins Q-Ratio = 2.67 (Enterprise Value 6.82b / Total Assets 2.55b)
Interest Expense / Debt = 1.25% (Interest Expense 8.42m / Debt 674.4m)
Taxrate = 24.71% (22.8m / 92.5m)
NOPAT = 301.7m (EBIT 400.7m * (1 - 24.71%))
Current Ratio = 3.08 (Total Current Assets 894.8m / Total Current Liabilities 290.3m)
Debt / Equity = 0.52 (Debt 674.4m / totalStockholderEquity, last quarter 1.30b)
Debt / EBITDA = 1.07 (Net Debt 504.4m / EBITDA 470.4m)
Debt / FCF = 1.78 (Net Debt 504.4m / FCF TTM 282.9m)
Total Stockholder Equity = 1.22b (last 4 quarters mean from totalStockholderEquity)
RoA = 10.96% (Net Income 279.9m / Total Assets 2.55b)
RoE = 22.91% (Net Income TTM 279.9m / Total Stockholder Equity 1.22b)
RoCE = 21.75% (EBIT 400.7m / Capital Employed (Equity 1.22b + L.T.Debt 620.4m))
RoIC = 16.78% (NOPAT 301.7m / Invested Capital 1.80b)
WACC = 8.02% (E(6.32b)/V(6.99b) * Re(8.78%) + D(674.4m)/V(6.99b) * Rd(1.25%) * (1-Tc(0.25)))
Discount Rate = 8.78% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -100.0 | Cagr: -0.23%
[DCF Debug] Terminal Value 67.19% ; FCFE base≈288.1m ; Y1≈189.1m ; Y5≈86.5m
Fair Price DCF = 38.47 (DCF Value 1.51b / Shares Outstanding 39.2m; 5y FCF grow -40.0% → 3.0% )
EPS Correlation: 62.58 | EPS CAGR: 4.08% | SUE: 0.40 | # QB: 0
Revenue Correlation: 69.16 | Revenue CAGR: 3.60% | SUE: 0.31 | # QB: 0
EPS next Quarter (2026-03-31): EPS=1.90 | Chg30d=-0.057 | Revisions Net=-1 | Analysts=5
EPS next Year (2026-12-31): EPS=8.62 | Chg30d=-0.152 | Revisions Net=-6 | Growth EPS=+10.5% | Growth Revenue=+5.6%
Additional Sources for MSA Stock
Tweets: X | Stocktwits
Fund Manager Positions: Dataroma | Stockcircle