MSA SAFETY INC (MSA) Stock Fundamental Analysis
NYSE:MSA - New York Stock Exchange, Inc. - US5534981064 - Common Stock - Currency: USD
Overall MSA gets a fundamental rating of 7 out of 10. We evaluated MSA against 83 industry peers in the Commercial Services & Supplies industry. Both the health and profitability get an excellent rating, making MSA a very profitable company, without any liquidiy or solvency issues. MSA is not valued too expensively and it also shows a decent growth rate.
1. Profitability
1.1 Basic Checks
In the past year MSA was profitable.
In the past year MSA had a positive cash flow from operations.
In the past 5 years MSA has always been profitable.
MSA had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
MSA's Return On Assets of 12.81% is amongst the best of the industry. MSA outperforms 87.95% of its industry peers.
MSA has a better Return On Equity (24.06%) than 89.16% of its industry peers.
The Return On Invested Capital of MSA (16.29%) is better than 91.57% of its industry peers.
The Average Return On Invested Capital over the past 3 years for MSA is above the industry average of 10.89%.
The 3 year average ROIC (14.63%) for MSA is below the current ROIC(16.29%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 12.81% | ||
| ROE | 24.06% | ||
| ROIC | 16.29% |
ROA(3y)7.72%
ROA(5y)6.1%
ROE(3y)16.81%
ROE(5y)13.55%
ROIC(3y)14.63%
ROIC(5y)11.25%
1.3 Margins
MSA has a Profit Margin of 15.77%. This is amongst the best in the industry. MSA outperforms 89.16% of its industry peers.
MSA's Profit Margin has improved in the last couple of years.
Looking at the Operating Margin, with a value of 22.20%, MSA belongs to the top of the industry, outperforming 95.18% of the companies in the same industry.
MSA's Operating Margin has improved in the last couple of years.
MSA has a better Gross Margin (47.26%) than 83.13% of its industry peers.
In the last couple of years the Gross Margin of MSA has remained more or less at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 22.2% | ||
| PM (TTM) | 15.77% | ||
| GM | 47.26% |
OM growth 3Y78.35%
OM growth 5Y6.79%
PM growth 3Y117.98%
PM growth 5Y9.9%
GM growth 3Y2.69%
GM growth 5Y0.88%
2. Health
2.1 Basic Checks
MSA has a Return on Invested Capital (ROIC), which is well above the Cost of Capital (WACC), which means it is creating value.
The number of shares outstanding for MSA remains at a similar level compared to 1 year ago.
MSA has more shares outstanding than it did 5 years ago.
The debt/assets ratio for MSA has been reduced compared to a year ago.
2.2 Solvency
MSA has an Altman-Z score of 6.16. This indicates that MSA is financially healthy and has little risk of bankruptcy at the moment.
MSA has a better Altman-Z score (6.16) than 89.16% of its industry peers.
MSA has a debt to FCF ratio of 1.98. This is a very positive value and a sign of high solvency as it would only need 1.98 years to pay back of all of its debts.
Looking at the Debt to FCF ratio, with a value of 1.98, MSA belongs to the top of the industry, outperforming 81.93% of the companies in the same industry.
A Debt/Equity ratio of 0.39 indicates that MSA is not too dependend on debt financing.
MSA has a Debt to Equity ratio (0.39) which is in line with its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.39 | ||
| Debt/FCF | 1.98 | ||
| Altman-Z | 6.16 |
ROIC/WACC1.86
WACC8.75%
2.3 Liquidity
MSA has a Current Ratio of 2.94. This indicates that MSA is financially healthy and has no problem in meeting its short term obligations.
The Current ratio of MSA (2.94) is better than 81.93% of its industry peers.
MSA has a Quick Ratio of 1.84. This is a normal value and indicates that MSA is financially healthy and should not expect problems in meeting its short term obligations.
The Quick ratio of MSA (1.84) is better than 75.90% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 2.94 | ||
| Quick Ratio | 1.84 |
3. Growth
3.1 Past
MSA shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 6.73%.
Measured over the past years, MSA shows a quite strong growth in Earnings Per Share. The EPS has been growing by 9.91% on average per year.
Looking at the last year, MSA shows a small growth in Revenue. The Revenue has grown by 0.75% in the last year.
The Revenue has been growing slightly by 5.22% on average over the past years.
EPS 1Y (TTM)6.73%
EPS 3Y18.56%
EPS 5Y9.91%
EPS Q2Q%4.35%
Revenue 1Y (TTM)0.75%
Revenue growth 3Y8.9%
Revenue growth 5Y5.22%
Sales Q2Q%1.94%
3.2 Future
The Earnings Per Share is expected to grow by 8.64% on average over the next years. This is quite good.
Based on estimates for the next years, MSA will show a small growth in Revenue. The Revenue will grow by 3.71% on average per year.
EPS Next Y1.41%
EPS Next 2Y6.5%
EPS Next 3Y6.93%
EPS Next 5Y8.64%
Revenue Next Year0.76%
Revenue Next 2Y2.99%
Revenue Next 3Y3.54%
Revenue Next 5Y3.71%
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
4. Valuation
4.1 Price/Earnings Ratio
The Price/Earnings ratio is 20.41, which indicates a rather expensive current valuation of MSA.
Based on the Price/Earnings ratio, MSA is valued a bit cheaper than the industry average as 65.06% of the companies are valued more expensively.
The average S&P500 Price/Earnings ratio is at 26.68. MSA is valued slightly cheaper when compared to this.
Based on the Price/Forward Earnings ratio of 18.16, the valuation of MSA can be described as rather expensive.
Based on the Price/Forward Earnings ratio, MSA is valued a bit cheaper than 66.27% of the companies in the same industry.
When comparing the Price/Forward Earnings ratio of MSA to the average of the S&P500 Index (22.50), we can say MSA is valued inline with the index average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 20.41 | ||
| Fwd PE | 18.16 |
4.2 Price Multiples
MSA's Enterprise Value to EBITDA ratio is in line with the industry average.
63.86% of the companies in the same industry are more expensive than MSA, based on the Price/Free Cash Flow ratio.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 24.56 | ||
| EV/EBITDA | 14.09 |
4.3 Compensation for Growth
The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
MSA has an outstanding profitability rating, which may justify a higher PE ratio.
PEG (NY)14.48
PEG (5Y)2.06
EPS Next 2Y6.5%
EPS Next 3Y6.93%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 1.34%, MSA has a reasonable but not impressive dividend return.
MSA's Dividend Yield is a higher than the industry average which is at 2.46.
Compared to an average S&P500 Dividend Yield of 2.36, MSA's dividend is way lower than the S&P500 average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.34% |
5.2 History
The dividend of MSA has a limited annual growth rate of 4.06%.
MSA has paid a dividend for at least 10 years, which is a reliable track record.
MSA has not decreased their dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)4.06%
Div Incr Years11
Div Non Decr Years11
5.3 Sustainability
MSA pays out 28.04% of its income as dividend. This is a sustainable payout ratio.
The dividend of MSA is growing, but earnings are growing more, so the dividend growth is sustainable.
DP28.04%
EPS Next 2Y6.5%
EPS Next 3Y6.93%
NYSE:MSA (5/19/2025, 2:00:29 PM)
158.575
-0.92 (-0.57%)
Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCommercial & Professional Services
GICS IndustryCommercial Services & Supplies
Earnings (Last)
Earnings (Next)
Inst Owners87.13%
Inst Owner Change2.11%
Ins Owners0.71%
Ins Owner Change-0.43%
Market Cap6.23B
Analysts77.78
Price Target184.62 (16.42%)
Short Float %2.04%
Short Ratio3.21
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.34% |
Yearly Dividend2
Dividend Growth(5Y)4.06%
DP28.04%
Div Incr Years11
Div Non Decr Years11
Ex-Date
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)2.33%
Min EPS beat(2)-0.61%
Max EPS beat(2)5.26%
EPS beat(4)3
Avg EPS beat(4)1.69%
Min EPS beat(4)-0.61%
Max EPS beat(4)5.26%
EPS beat(8)7
Avg EPS beat(8)7.76%
EPS beat(12)11
Avg EPS beat(12)9.79%
EPS beat(16)14
Avg EPS beat(16)10.12%
Revenue beat(2)1
Avg Revenue beat(2)-0.63%
Min Revenue beat(2)-4.87%
Max Revenue beat(2)3.61%
Revenue beat(4)1
Avg Revenue beat(4)-1.66%
Min Revenue beat(4)-4.87%
Max Revenue beat(4)3.61%
Revenue beat(8)4
Avg Revenue beat(8)0.86%
Revenue beat(12)8
Avg Revenue beat(12)1.68%
Revenue beat(16)11
Avg Revenue beat(16)1.58%
PT rev (1m)-2.56%
PT rev (3m)-7.77%
EPS NQ rev (1m)-8.4%
EPS NQ rev (3m)-13.84%
EPS NY rev (1m)-3.36%
EPS NY rev (3m)-3.67%
Revenue NQ rev (1m)-1.35%
Revenue NQ rev (3m)-5.93%
Revenue NY rev (1m)1.42%
Revenue NY rev (3m)-1.69%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 20.41 | ||
| Fwd PE | 18.16 | ||
| P/S | 3.43 | ||
| P/FCF | 24.56 | ||
| P/OCF | 20.26 | ||
| P/B | 5.23 | ||
| P/tB | 19.52 | ||
| EV/EBITDA | 14.09 |
EPS(TTM)7.77
EY4.9%
EPS(NY)8.73
Fwd EY5.51%
FCF(TTM)6.46
FCFY4.07%
OCF(TTM)7.83
OCFY4.93%
SpS46.24
BVpS30.3
TBVpS8.12
PEG (NY)14.48
PEG (5Y)2.06
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 12.81% | ||
| ROE | 24.06% | ||
| ROCE | 20.62% | ||
| ROIC | 16.29% | ||
| ROICexc | 17.84% | ||
| ROICexgc | 34.85% | ||
| OM | 22.2% | ||
| PM (TTM) | 15.77% | ||
| GM | 47.26% | ||
| FCFM | 13.96% |
ROA(3y)7.72%
ROA(5y)6.1%
ROE(3y)16.81%
ROE(5y)13.55%
ROIC(3y)14.63%
ROIC(5y)11.25%
ROICexc(3y)15.96%
ROICexc(5y)12.44%
ROICexgc(3y)32.31%
ROICexgc(5y)24.61%
ROCE(3y)18.52%
ROCE(5y)14.24%
ROICexcg growth 3Y97.54%
ROICexcg growth 5Y5.68%
ROICexc growth 3Y98.64%
ROICexc growth 5Y5.18%
OM growth 3Y78.35%
OM growth 5Y6.79%
PM growth 3Y117.98%
PM growth 5Y9.9%
GM growth 3Y2.69%
GM growth 5Y0.88%
F-Score7
Asset Turnover0.81
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.39 | ||
| Debt/FCF | 1.98 | ||
| Debt/EBITDA | 1 | ||
| Cap/Depr | 82.72% | ||
| Cap/Sales | 2.96% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 65.65% | ||
| Profit Quality | 88.55% | ||
| Current Ratio | 2.94 | ||
| Quick Ratio | 1.84 | ||
| Altman-Z | 6.16 |
F-Score7
WACC8.75%
ROIC/WACC1.86
Cap/Depr(3y)77.54%
Cap/Depr(5y)90.68%
Cap/Sales(3y)2.75%
Cap/Sales(5y)3.08%
Profit Quality(3y)77.96%
Profit Quality(5y)213.06%
High Growth Momentum
Growth
EPS 1Y (TTM)6.73%
EPS 3Y18.56%
EPS 5Y9.91%
EPS Q2Q%4.35%
EPS Next Y1.41%
EPS Next 2Y6.5%
EPS Next 3Y6.93%
EPS Next 5Y8.64%
Revenue 1Y (TTM)0.75%
Revenue growth 3Y8.9%
Revenue growth 5Y5.22%
Sales Q2Q%1.94%
Revenue Next Year0.76%
Revenue Next 2Y2.99%
Revenue Next 3Y3.54%
Revenue Next 5Y3.71%
EBIT growth 1Y1.26%
EBIT growth 3Y94.21%
EBIT growth 5Y12.36%
EBIT Next Year15.91%
EBIT Next 3Y9.43%
EBIT Next 5Y10.51%
FCF growth 1Y228.59%
FCF growth 3Y17.32%
FCF growth 5Y13.53%
OCF growth 1Y301.03%
OCF growth 3Y14.19%
OCF growth 5Y12.43%