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 45 d ago 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 26.0× (Sep '26).
The price-to-sales ratio has risen from 3.4× (Mar '23) to 3.9× (Sep '26).
The dividend yield has fallen from 1.4% (Mar '23) to 1.1% (Sep '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?

As of Sep '26, Msa Safety Inc traded at a price-to-earnings ratio of about 26.0× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. 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), corporate-action-adjusted · growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price against the latest annual filing. Informational only — not investment advice.