MSA Financials Msa Safety Inc

15 years of revenue, profit, cash flow and balance-sheet history through FY2025, from SEC filings — with a computed, factual read of the trend. Updated Aug 4, 2026, 19:37 UTC Overview →

Growth & profitability

Revenue has grown 6.8% per year over the past 5 years.
Net income has grown faster than revenue (17.6% vs 6.8% per year).
Operating margin has expanded, at 19.8% in the latest year.
Free cash flow has grown 13.4% per year over the past 5 years.

Financial health

Total debt ($581M) exceeds cash ($165M); net debt is $416M.
Total debt has grown faster than revenue (13.6% vs 6.8% per year).
Operating income covered interest expense 12× in the latest year.
Total debt is 1.3× EBITDA.

Shareholder returns

Dividends have been paid for 15 consecutive years, consuming 29.5% of earnings and 27.9% of free cash flow.
The dividend has grown 4.3% per year over the past 5 years.

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key annual figures

FY	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
2025	$1.9B	$279M	46.5%	19.8%	20.4%	10.9%	$295M	$581M	$165M
2024	$1.8B	$285M	47.6%	21.5%	24.9%	12.9%	$242M	$508M	$165M
2023	$1.8B	$59M	47.7%	12.9%	6.1%	2.7%	$50M	$602M	$146M
2022	$1.5B	$180M	44.1%	15.7%	19.4%	7.6%	$115M	$573M	$163M
2021	$1.4B	$21M	43.9%	1.6%	2.6%	0.9%	$155M	$598M	$141M
2020	$1.3B	$124M	44.2%	12.7%	14.6%	6.5%	$158M	$307M	$161M
2019	$1.4B	$138M	45.6%	13.4%	18.8%	7.7%	$128M	$348M	$152M
2018	—	$124M	—	—	19.4%	7.7%	$230M	$361M	$140M
2017	—	$26M	—	—	4.3%	1.5%	$207M	$474M	$134M
2016	—	$92M	—	—	16.4%	6.8%	$109M	$391M	$114M
2015	—	$71M	—	—	13.7%	5.0%	$19M	$465M	$106M
2014	—	$89M	—	—	16.4%	7.0%	$73M	$252M	$106M
2013	—	$88M	—	—	15.4%	7.1%	$74M	$268M	$96M
2012	—	$91M	—	—	19.3%	8.2%	$118M	$279M	$83M
2011	—	$70M	—	—	15.9%	6.3%	$55M	$342M	$60M

Revenue & net income

RevenueNet income

Margins (gross / operating / net)

GrossOperatingNet

Return on equity & assets (ROE / ROA)

ROEROA

Free cash flow (CFO − capex, quarterly)

Free cash flow

Cash vs total debt

CashTotal debt

Cash flow: operating / investing / financing

OperatingInvestingFinancing

Key quarterly figures

Quarter	Revenue	Net income	Gross M	Op M	ROE	ROA	FCF	Total debt	Cash
Jun '26	$503M	$86M	49.5%	22.2%	6.1%	3.3%	$83M	$600M	$200M
Mar '26	$464M	$71M	47.4%	20.1%	5.3%	2.8%	$65M	$613M	$180M
Dec '25	$511M	$87M	46.9%	22.3%	6.4%	3.4%	$106M	$581M	$165M
Sep '25	$468M	$70M	46.5%	20.1%	5.3%	2.7%	$100M	$629M	$170M
Jun '25	$474M	$63M	46.6%	18.1%	5.0%	2.5%	$38M	$679M	$147M
Mar '25	$421M	$60M	45.9%	18.5%	5.0%	2.7%	$51M	$502M	$171M
Dec '24	$500M	$88M	46.9%	23.5%	7.7%	4.0%	$93M	$508M	$165M
Sep '24	$433M	$67M	47.9%	21.1%	6.1%	3.0%	$70M	$555M	$154M
Jun '24	$462M	$72M	48.2%	21.6%	7.0%	3.2%	$39M	$588M	$147M
Mar '24	$413M	$58M	47.3%	19.4%	5.8%	2.7%	$40M	$596M	$148M
Dec '23	$495M	$76M	48.1%	20.6%	7.9%	3.5%	$147M	$602M	$146M
Sep '23	$447M	$65M	49.0%	21.1%	7.5%	3.0%	$112M	$742M	$164M
Jun '23	$447M	$67M	47.8%	21.2%	8.1%	3.1%	$85M	$814M	$147M
Mar '23	$398M	-$150M	45.5%	-15.1%	-19.5%	-6.9%	-$294M	$870M	$139M
Dec '22	$443M	$51M	44.5%	15.9%	5.6%	2.2%	$40M	$573M	$163M
Sep '22	$382M	$45M	44.4%	16.8%	5.3%	1.9%	$55M	$605M	$160M
Jun '22	$372M	$48M	44.2%	16.5%	5.7%	2.0%	$4M	$623M	$134M
Mar '22	$331M	$36M	43.2%	12.9%	4.1%	1.5%	$17M	$599M	$147M
Dec '21	$410M	-$61M	43.4%	-21.7%	-7.4%	-2.6%	$56M	$598M	$141M
Sep '21	$340M	$21M	43.9%	9.5%	2.6%	0.9%	$36M	$613M	$117M

Valuation over time

How the market has priced MSA against its own fundamentals since 2023-03 — each month-end's share price set against the most recent annual filing, so the multiple moves as price runs ahead of (or behind) earnings. Split-adjusted.

The price-to-earnings ratio has fallen from 28.7× (Mar '23) to 25.9× (Nov '26).
The price-to-sales ratio has risen from 3.4× (Mar '23) to 3.8× (Nov '26).
The dividend yield has fallen from 1.4% (Mar '23) to 1.1% (Nov '26).

Price / earnings (P/E)

P/E

Price / sales (P/S)

P/S

Dividend yield (%)

Dividend yield %

Frequently asked questions

Is MSA growing its revenue and profit?

Over the past 5 years, Msa Safety Inc's revenue has grown 6.8% per year, and net income grown 17.6% per year. These are computed facts, not advice.

How much debt does MSA have?

As of FY2025, Msa Safety Inc reported $581M of total debt against $165M of cash; operating income covered interest expense 12×.

What is MSA's profit margin?

In FY2025, gross margin was 46.5%, operating margin 19.8%, and net margin 14.9%.

What is MSA's P/E ratio?

Msa Safety Inc's P/E (TTM) is 22.98 as of the 2026-11-02 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the MSA stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 25.9× as of Nov '26) can differ. These are computed facts, not advice.

Where does this data come from?

All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.

Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.