MSA Safety Incorporated (MSA) AI Stock Analysis

NYSE: MSAAI research summary: business, growth, valuation, analysts, bull and bear case.

MSA AI stock analysis summary

AI Research

MSA Safety Incorporated develops, manufactures, and supplies critical safety products and gas detection systems worldwide. In FY2025, the company generated $1.87B in revenue and $278.9M in net income, while delivering free cash flow of $295.4M. For the trailing twelve months ended June 30, 2026, revenue reached $1.95B with an operating margin of 24.6%.

Market cap
$6.91B
Revenue (TTM)
$1.95B
P/E
22.3x
fwd 19.6x
1Y return
9.8%
S&P 500 16.8%
Avg. target
$209.14
16.8% vs last close

Bull case

  • Operating margins expanded from 1.6% in FY2021 to 21.4% in FY2025, reaching 24.6% over the trailing twelve months.
  • Quarterly earnings increased 40.3% year-over-year in the quarter ended June 30, 2026, backed by four consecutive quarters of earnings beats.
  • Free cash flow generation reached $295.4M in FY2025, supporting a 42-year track record of uninterrupted dividend payments.

Bear case

  • Revenue growth has moderated to 3.7% in FY2025 and 1.1% in FY2024, down from 17.0% in FY2023.
  • The stock has lagged broader benchmarks over longer horizons, delivering a 5-year return of 26.7% versus 83.0% for the S&P 500.
  • Valuation multiples remain elevated on an asset basis, including a forward price-to-earnings ratio of 19.6x compared to 17.2x for the median of its US-listed Industrials peers.

What MSA Safety does

Headquartered in Cranberry Township, Pennsylvania, MSA Safety Incorporated develops, manufactures, and supplies safety products designed to safeguard people and facility infrastructures across industries such as oil, gas, petrochemical, fire service, construction, manufacturing, utilities, military, and mining. Its product portfolio features permanently installed fixed gas and flame detection instruments, including monitoring systems and open-path infrared gas detectors. The company also produces self-contained breathing apparatus, portable gas detectors, industrial head protection, firefighter helmets, protective apparel, fall protection solutions, respirators, eye and face protection, ballistic helmets, and gas masks, sold under brands including V-Gard, Cairns, and Gallet.

Growth and profitability

MSA Safety grew revenue from $1.40B in FY2021 to $1.87B in FY2025, recording a 5-year revenue compound annual growth rate of 6.8%. Net income rose from $21.3M in FY2021 to $278.9M in FY2025, supported by gross margins expanding from 43.9% to 46.5% and operating margins climbing from 1.6% to 21.4%. In FY2024, net income reached $285.0M on revenue of $1.81B. For the trailing twelve months ended June 30, 2026, revenue stood at $1.95B with a profit margin of 16.1% and diluted earnings per share of $8.04. In the latest quarter ended June 30, 2026, quarterly revenue grew 6.2% year-over-year while quarterly earnings expanded 40.3%.

MSA income statement →

Balance sheet and cash flow

As of June 30, 2026, MSA Safety held $200.1M in cash and short-term investments against total debt of $643.5M, resulting in net debt of $443.5M. The company maintains a current ratio of 3.24 and a debt-to-equity ratio of 0.46 on shareholders' equity of $1.40B. Operating cash flow totaled $363.9M in FY2025. In that same fiscal year, the business spent $68.4M on capital expenditures, paid $82.3M in dividends, and deployed $90.0M toward share buybacks.

MSA balance sheet →

Valuation and performance

MSA Safety carries a market capitalization of $6.91B and an enterprise value of $7.50B. The stock trades at a trailing price-to-earnings multiple of 22.3x, compared to 24.8x for the median of its US-listed Industrials peers. Its forward price-to-earnings ratio is 19.6x versus the peer median of 17.2x, while enterprise value to EBITDA sits at 14.5x against a peer median of 13.9x. The company has a PEG ratio of 0.99. Over the past year, MSA shares returned 9.8%, trailing the 16.8% return of the S&P 500 (SPY), while its 5-year return of 26.7% compares to 83.0% for the index.

MSA key metrics →

MSA dividend

MSA Safety pays a forward annual dividend of $2.16 per share, yielding 1.21% based on a quarterly distribution schedule. The payout ratio stands at 24.6%, and dividends have been paid for 42 consecutive years. The annualized 5-year dividend growth rate is 4.2%, and the most recent ex-dividend date was August 14, 2026.

MSA dividend history →

What analysts expect

Wall Street coverage includes 2 Strong Buy ratings, 5 Hold ratings, and zero Sell or Strong Sell ratings. The mean price target is $209.14, representing 16.8% upside compared to the last closing price of $179.05 on October 16, 2026. For the fiscal year ending December 31, 2026, consensus estimates project revenue of $2.08B and earnings per share of $9.07, representing 14.4% earnings growth. The company beat earnings estimates in each of the last 4 quarters, with the next earnings release scheduled for October 27, 2026.

MSA forecast and price target →

Key risks and what to watch

  • Net debt totaled $443.5M as of June 30, 2026, which requires consistent cash flow to service alongside capital return programs.
  • Top-line expansion has slowed from a 5-year compound rate of 6.8% to 6.2% year-over-year in the latest quarter.
  • The company's enterprise value to EBITDA ratio of 14.5x trades at a premium to the peer median of 13.9x, leaving less room for multiple contraction if operational targets are missed.

AI-generated research summary. Written with AI from Quotelinks data as of October 16, 2026 and checked so every figure matches that data. For information only, not investment advice. Disclaimer

About this MSA AI stock analysis

This page is an AI-written research summary of MSA Safety Incorporated (MSA). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

Related: MSA income statement, MSA balance sheet, MSA key metrics, MSA analyst forecast, MSA chart. See the MSA stock overview for the latest quote and news.

MSA AI stock analysis FAQ

What is MSA Safety's current dividend yield and payout policy?

MSA Safety pays an annualized dividend of $2.16 per share, representing a dividend yield of 1.21%. The company has paid dividends for 42 consecutive years and maintains a conservative payout ratio of 24.6%.

How does MSA Safety's valuation compare to its peer group?

MSA Safety trades at a trailing price-to-earnings ratio of 22.3x, which is below the median of its US-listed Industrials peers at 24.8x. However, its forward price-to-earnings ratio of 19.6x and EV-to-EBITDA ratio of 14.5x trade above peer medians of 17.2x and 13.9x, respectively.

What are analysts forecasting for MSA Safety's earnings?

For the fiscal year ending December 31, 2026, analysts estimate earnings per share of $9.07 on revenue of $2.08B, reflecting 14.4% earnings growth. For the following fiscal year, 7 analysts project earnings per share of $9.93 on revenue of $2.27B.

What is the condition of MSA Safety's balance sheet?

As of June 30, 2026, the company held $200.1M in cash and short-term investments against $643.5M in total debt. It reported a current ratio of 3.24 and a debt-to-equity ratio of 0.46, supported by $1.40B in shareholders' equity.

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