Msa Safety Financials
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Msa Safety has an operating margin of 19.8%, meaning the company retains $20 of operating profit per $100 of revenue. This strong profitability earns a score of 99/100, reflecting efficient cost management and pricing power. This is down from 21.5% the prior year.
Msa Safety's revenue declined 99.9% year-over-year, from $1.8B to $1.9M. This contraction results in a growth score of 0/100.
Msa Safety has a moderate D/E ratio of 2.03. This balance of debt and equity financing earns a leverage score of 36/100.
With a current ratio of 3.01, Msa Safety holds $3.01 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.
Msa Safety converts 15.8% of revenue into free cash flow ($295K). This strong cash generation earns a score of 79/100.
Msa Safety earns a strong 20.8% return on equity (ROE), meaning it generates $21 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 83/100. This is down from 24.9% the prior year.
Msa Safety scores 2069.80, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($7.8B) relative to total liabilities ($2.3M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Msa Safety passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Msa Safety generates $6.21 in operating cash flow ($364K OCF vs $59K net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Msa Safety earns $11.7 in operating income for every $1 of interest expense ($372K vs $32K). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
This page shows Msa Safety (MSA) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 18 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Key Financial Metrics
Msa Safety generated $1.9M in revenue in fiscal year 2025. This represents a decrease of 99.9% from the prior year.
Msa Safety's EBITDA was $419K in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 99.9% from the prior year.
Msa Safety generated $295K in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 99.9% from the prior year.
Msa Safety reported $59K in net income in fiscal year 2025. This represents a decrease of 100.0% from the prior year.
Msa Safety earned $7.09 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 1.7% from the prior year.
Msa Safety held $165K in cash against $573K in long-term debt as of fiscal year 2025.
Msa Safety paid $1.87 per share in dividends in fiscal year 2025. This represents a decrease of 6.5% from the prior year.
Msa Safety had 39M shares outstanding in fiscal year 2025. This represents a decrease of 1.2% from the prior year.
Msa Safety's gross margin was 46.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 1.1 percentage points from the prior year.
Msa Safety's operating margin was 19.8% in fiscal year 2025, reflecting core business profitability. This is down 1.7 percentage points from the prior year.
Msa Safety's net profit margin was 3.1% in fiscal year 2025, showing the share of revenue converted to profit. This is down 12.6 percentage points from the prior year.
Msa Safety's ROE was 20.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 4.1 percentage points from the prior year.
Msa Safety invested $65K in research and development in fiscal year 2025. This represents a decrease of 99.9% from the prior year.
Msa Safety spent $90K on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 99.8% from the prior year.
Msa Safety invested $68K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 99.9% from the prior year.
MSA Income Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $510.9M+9.1% | $468.4M-1.2% | $474.1M+12.5% | $421.3M-15.7% | $499.7M+15.5% | $432.7M-6.4% | $462.5M+11.9% | $413.3M |
| Cost of Revenue | $271.5M+8.2% | $250.8M-1.0% | $253.4M+11.2% | $227.9M-14.1% | $265.3M+17.8% | $225.2M-5.9% | $239.4M+9.9% | $217.8M |
| Gross Profit | $239.4M+10.0% | $217.6M-1.4% | $220.7M+14.1% | $193.4M-17.5% | $234.4M+13.0% | $207.5M-7.0% | $223.0M+14.1% | $195.5M |
| R&D Expenses | $16.2M-2.2% | $16.5M-2.8% | $17.0M+8.5% | $15.7M-6.9% | $16.8M+0.7% | $16.7M-2.1% | $17.1M+7.2% | $15.9M |
| SG&A Expenses | $105.4M+2.4% | $102.9M-8.2% | $112.1M+19.3% | $94.0M-6.4% | $100.4M+5.5% | $95.1M-9.5% | $105.1M+11.6% | $94.2M |
| Operating Income | $113.9M+20.8% | $94.3M+9.8% | $85.9M+10.4% | $77.8M-33.9% | $117.6M+28.6% | $91.5M-8.5% | $99.9M+24.8% | $80.1M |
| Interest Expense | $8.4M+0.2% | $8.4M+3.7% | $8.1M+18.7% | $6.8M-6.8% | $7.3M-19.9% | $9.2M-5.3% | $9.7M-10.0% | $10.7M |
| Income Tax | $26.3M+15.2% | $22.8M+14.4% | $20.0M+8.9% | $18.3M-36.5% | $28.9M+34.2% | $21.5M-3.1% | $22.2M+27.1% | $17.5M |
| Net Income | $86.9M+24.9% | $69.6M+10.9% | $62.8M+5.3% | $59.6M-32.2% | $87.9M+32.0% | $66.6M-7.7% | $72.2M+24.2% | $58.1M |
| EPS (Diluted) | $2.21+24.9% | $1.77+11.3% | $1.59+5.3% | $1.51-32.0% | $2.22+31.4% | $1.69-7.7% | $1.83+24.5% | $1.47 |
MSA Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $2.6B0.0% | $2.6B+0.1% | $2.6B+14.1% | $2.2B+1.4% | $2.2B-1.6% | $2.2B-0.1% | $2.2B+3.2% | $2.2B |
| Current Assets | $869.3M-2.8% | $894.8M+0.8% | $887.5M+7.8% | $823.2M+2.5% | $803.0M-4.7% | $842.7M-2.2% | $861.4M+8.6% | $792.9M |
| Cash & Equivalents | $165.1M-2.9% | $170.0M+15.7% | $147.0M-13.8% | $170.6M+3.7% | $164.6M+6.6% | $154.4M+5.1% | $146.8M-1.0% | $148.3M |
| Inventory | $343.0M-3.5% | $355.5M+3.4% | $343.9M+12.1% | $306.7M+3.3% | $296.8M-15.6% | $351.8M+9.6% | $320.9M+5.0% | $305.6M |
| Accounts Receivable | $306.5M-0.2% | $306.9M-8.0% | $333.8M+13.4% | $294.4M+5.4% | $279.2M+0.7% | $277.3M-7.3% | $299.1M+7.2% | $279.1M |
| Goodwill | $731.6M-0.1% | $732.2M-0.1% | $733.2M+16.9% | $627.2M+1.0% | $620.9M-1.9% | $632.8M+1.3% | $624.6M-0.1% | $625.0M |
| Total Liabilities | $1.2B-5.1% | $1.3B-3.6% | $1.3B+24.1% | $1.0B-1.6% | $1.1B-7.3% | $1.1B-5.2% | $1.2B+2.6% | $1.2B |
| Current Liabilities | $289.2M-0.4% | $290.3M+1.7% | $285.5M+1.8% | $280.4M-2.7% | $288.1M-8.4% | $314.5M-10.6% | $351.8M+11.1% | $316.5M |
| Long-Term Debt | $572.7M-7.7% | $620.4M-7.5% | $671.0M+43.0% | $469.2M-2.6% | $481.6M-8.8% | $527.8M-6.0% | $561.8M-1.4% | $569.7M |
| Total Equity | $1.4B+5.0% | $1.3B+4.0% | $1.3B+5.3% | $1.2B+4.1% | $1.1B+4.4% | $1.1B+6.0% | $1.0B+3.9% | $994.8M |
| Retained Earnings | $1.5B+4.5% | $1.5B+3.4% | $1.4B+3.0% | $1.4B+2.9% | $1.3B+5.3% | $1.3B+3.8% | $1.2B+4.4% | $1.2B |
MSA Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $122.4M+8.8% | $112.5M+67.3% | $67.2M+8.7% | $61.8M-42.7% | $107.9M+28.0% | $84.3M+58.2% | $53.3M+4.7% | $50.9M |
| Capital Expenditures | $16.3M+36.3% | $12.0M-59.1% | $29.3M+172.0% | $10.8M-25.2% | $14.4M+1.1% | $14.3M-0.6% | $14.3M+27.8% | $11.2M |
| Free Cash Flow | $106.0M+5.5% | $100.5M+165.2% | $37.9M-25.8% | $51.0M-45.4% | $93.5M+33.4% | $70.1M+79.9% | $39.0M-1.8% | $39.7M |
| Investing Cash Flow | -$17.8M-48.3% | -$12.0M+94.5% | -$217.1M-1916.6% | -$10.8M+23.3% | -$14.0M+1.5% | -$14.2M+0.2% | -$14.3M-27.2% | -$11.2M |
| Financing Cash Flow | -$107.6M-49.9% | -$71.8M-160.0% | $119.6M+362.2% | -$45.6M+37.1% | -$72.5M-5.9% | -$68.5M-77.2% | -$38.6M-32.8% | -$29.1M |
| Dividends Paid | $20.7M-0.2% | $20.8M-0.4% | $20.8M+4.1% | $20.0M-0.3% | $20.1M0.0% | $20.1M-0.1% | $20.1M+8.7% | $18.5M |
| Share Buybacks | $39.9M+3372.8% | $1.1M-96.2% | $30.5M+66.5% | $18.3M+85.0% | $9.9M-6.5% | $10.6M-3.6% | $11.0M+88.3% | $5.8M |
MSA Financial Ratios
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 46.9%+0.4pp | 46.5%-0.1pp | 46.6%+0.7pp | 45.9%-1.0pp | 46.9%-1.0pp | 47.9%-0.3pp | 48.2%+0.9pp | 47.3% |
| Operating Margin | 22.3%+2.2pp | 20.1%+2.0pp | 18.1%-0.3pp | 18.5%-5.1pp | 23.5%+2.4pp | 21.1%-0.5pp | 21.6%+2.2pp | 19.4% |
| Net Margin | 17.0%+2.2pp | 14.9%+1.6pp | 13.2%-0.9pp | 14.1%-3.5pp | 17.6%+2.2pp | 15.4%-0.2pp | 15.6%+1.6pp | 14.1% |
| Return on Equity | 6.4%+1.0pp | 5.3%+0.3pp | 5.0%0.0pp | 5.0%-2.7pp | 7.7%+1.6pp | 6.1%-0.9pp | 7.0%+1.2pp | 5.8% |
| Return on Assets | 3.4%+0.7pp | 2.7%+0.3pp | 2.5%-0.2pp | 2.7%-1.3pp | 4.0%+1.0pp | 3.0%-0.2pp | 3.2%+0.5pp | 2.7% |
| Current Ratio | 3.01-0.1 | 3.08-0.0 | 3.11+0.2 | 2.94+0.1 | 2.79+0.1 | 2.68+0.2 | 2.45-0.1 | 2.51 |
| Debt-to-Equity | 0.42-0.1 | 0.48-0.1 | 0.54+0.1 | 0.39-0.0 | 0.42-0.1 | 0.48-0.1 | 0.54-0.0 | 0.57 |
| FCF Margin | 20.8%-0.7pp | 21.4%+13.5pp | 8.0%-4.1pp | 12.1%-6.6pp | 18.7%+2.5pp | 16.2%+7.8pp | 8.4%-1.2pp | 9.6% |
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Frequently Asked Questions
What is Msa Safety's annual revenue?
Msa Safety (MSA) reported $1.9M in total revenue for fiscal year 2025. This represents a -99.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Msa Safety's revenue growing?
Msa Safety (MSA) revenue declined by 99.9% year-over-year, from $1.8B to $1.9M in fiscal year 2025.
Is Msa Safety profitable?
Yes, Msa Safety (MSA) reported a net income of $59K in fiscal year 2025, with a net profit margin of 3.1%.
What is Msa Safety's earnings per share (EPS)?
Msa Safety (MSA) reported diluted earnings per share of $7.09 for fiscal year 2025. This represents a -1.7% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Msa Safety's EBITDA?
Msa Safety (MSA) had EBITDA of $419K in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Msa Safety have?
As of fiscal year 2025, Msa Safety (MSA) had $165K in cash and equivalents against $573K in long-term debt.
What is Msa Safety's gross margin?
Msa Safety (MSA) had a gross margin of 46.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Msa Safety's operating margin?
Msa Safety (MSA) had an operating margin of 19.8% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Msa Safety's net profit margin?
Msa Safety (MSA) had a net profit margin of 3.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Msa Safety pay dividends?
Yes, Msa Safety (MSA) paid $1.87 per share in dividends during fiscal year 2025.
What is Msa Safety's return on equity (ROE)?
Msa Safety (MSA) has a return on equity of 20.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Msa Safety's free cash flow?
Msa Safety (MSA) generated $295K in free cash flow during fiscal year 2025. This represents a -99.9% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Msa Safety's operating cash flow?
Msa Safety (MSA) generated $364K in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Msa Safety's total assets?
Msa Safety (MSA) had $2.6M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Msa Safety's capital expenditures?
Msa Safety (MSA) invested $68K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Msa Safety spend on research and development?
Msa Safety (MSA) invested $65K in research and development during fiscal year 2025.
Does Msa Safety buy back shares?
Yes, Msa Safety (MSA) spent $90K on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
How many shares does Msa Safety have outstanding?
Msa Safety (MSA) had 39M shares outstanding as of fiscal year 2025.
What is Msa Safety's current ratio?
Msa Safety (MSA) had a current ratio of 3.01 as of fiscal year 2025, which is generally considered healthy.
What is Msa Safety's debt-to-equity ratio?
Msa Safety (MSA) had a debt-to-equity ratio of 2.03 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Msa Safety's return on assets (ROA)?
Msa Safety (MSA) had a return on assets of 2.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Msa Safety's Altman Z-Score?
Msa Safety (MSA) has an Altman Z-Score of 2069.80, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Msa Safety's Piotroski F-Score?
Msa Safety (MSA) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Msa Safety's earnings high quality?
Msa Safety (MSA) has an earnings quality ratio of 6.21x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Msa Safety cover its interest payments?
Msa Safety (MSA) has an interest coverage ratio of 11.7x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Msa Safety?
Msa Safety (MSA) scores 66 out of 100 on our Financial Profile, indicating strong overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.