Financials · MSA

MSA Safety Incorporated (MSA) financials

For the twelve months ended Sep 30, 2026, MSA Safety Incorporated reported $2.01B of revenue and $302.79M of net income.

Revenue, TTM
$2.01B
Revenue growth, YoY
+8.1%
Net income, TTM
$302.79M
Net income growth, YoY
+8.2%
Net margin
15.0%
Free cash flow, TTM
$322.01M
EPS, diluted, TTM
$7.78
EPS growth, YoY
+9.7%
Cash
$187.25M
Total debt
$1.12B
P/E
22.02
P/S
3.31
Market cap
$6.67B
Annual revenue$1.87B
FY2016FY2025
Annual net income$278.92M
FY2016FY2025
Annual free cash flow$295.43M
FY2016FY2025

MSA revenue and earnings growth

MSA revenueQ3 2026$536.43M

Quarter YoY
+14.5%
QoQ
+6.6%
FY YoY
+3.7%
5Y CAGR
+6.8%
10Y CAGR
+5.2%

MSA revenue was $536.43M in fiscal Q3 2026 (ended Sep 30, 2026), up 14.5% from a year earlier and up 6.6% from the prior quarter. For the full fiscal 2025 it was $1.87B, up 3.7% from fiscal 2024. Compound annual growth was +6.8% over 5 years and +5.2% over 10 years. It rose in 9 of the last 10 fiscal years. Fiscal 2025 is the highest of the 15 fiscal years on file.

MSA net incomeQ3 2026$58.40M

Quarter YoY
-16.1%
QoQ
-32.3%
FY YoY
-2.1%
5Y CAGR
+17.6%
10Y CAGR
+14.7%

MSA net income was $58.40M in fiscal Q3 2026 (ended Sep 30, 2026), down 16.1% from a year earlier and down 32.3% from the prior quarter. For the full fiscal 2025 it was $278.92M, down 2.1% from fiscal 2024. Compound annual growth was +17.6% over 5 years and +14.7% over 10 years. It rose in 5 of the last 10 fiscal years.

MSA EPSQ3 2026$1.51

Quarter YoY
-14.7%
QoQ
-32.3%
FY YoY
-1.7%
5Y CAGR
+17.6%
10Y CAGR
+14.3%

MSA diluted EPS was $1.51 in fiscal Q3 2026 (ended Sep 30, 2026), down 14.7% from a year earlier and down 32.3% from the prior quarter. For the full fiscal 2025 it was $7.09, down 1.7% from fiscal 2024. Compound annual growth was +17.6% over 5 years and +14.3% over 10 years.

MSA free cash flowQ3 2026$68.18M

Quarter YoY
-32.1%
QoQ
-17.6%
FY YoY
+22.0%
5Y CAGR
+13.4%
10Y CAGR
+31.6%

MSA free cash flow was $68.18M in fiscal Q3 2026 (ended Sep 30, 2026), down 32.1% from a year earlier and down 17.6% from the prior quarter. For the full fiscal 2025 it was $295.43M, up 22.0% from fiscal 2024. Compound annual growth was +13.4% over 5 years and +31.6% over 10 years. It rose in 6 of the last 10 fiscal years. Fiscal 2025 is the highest of the 15 fiscal years on file.

Export CSV

Income statement

Income statement
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Revenue$1.87B$1.81B$1.79B$1.53B$1.40B$1.35B$1.40B$1.36B$1.20B$1.15B
Cost of revenue$1.00B$947.70M$935.51M$854.12M$784.83M$752.73M$763.35M$746.24M$657.92M$627.28M
Gross profit$871.11M$860.45M$852.14M$673.83M$615.35M$595.49M$638.63M$611.86M$538.89M$522.25M
Research and development$65.34M$66.53M$67.99M$57.01M$57.79M$58.27M$57.85M$52.70M$50.06M$46.85M
Selling, general and admin$414.25M$394.71M$396.64M$338.87M$332.86M$290.33M$330.50M$324.78M$300.06M$308.24M
Operating income$371.82M$389.18M$231.32M$239.14M$22.78M$171.90M$188.25M$173.48M$39.58M$160.70M
Interest expense$31.80M$36.89M$46.73M$21.66M$10.76M$9.43M$13.59M$18.88M$15.36M$16.41M
Pre-tax income$366.40M$375.01M$206.69M$238.53M$23.60M$168.15M$185.75M$162.34M$29.77M$151.91M
Income tax$87.47M$90.04M$148.10M$58.90M$1.82M$43.01M$46.55M$37.22M$2.82M$57.80M
Net income$278.92M$284.97M$58.58M$179.63M$21.34M$124.08M$138.00M$124.15M$26.03M$91.94M
EPS, basic$7.11$7.24$1.49$4.58$0.54$3.19$3.56$3.23$0.68$2.45
EPS, diluted$7.09$7.21$1.48$4.56$0.54$3.15$3.52$3.18$0.67$2.42
Diluted shares39.3M39.5M39.5M39.4M39.4M39.3M39.2M39.0M38.7M38.0M

Balance sheet

Balance sheet
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Cash and equivalents$165.07M$165.10M$146.44M$164.43M$141.44M$161.03M$152.54M$140.60M$137.89M$114.96M
Receivables$306.45M$279.21M$294.68M$297.03M$254.19M$252.28M$255.08M$245.03M$244.20M$209.51M
Inventory$343.04M$296.80M$292.60M$338.32M$280.62M$244.97M$185.03M$156.60M$153.74M$103.07M
Current assets$869.29M$803.03M$786.27M$880.13M$792.80M$801.42M$693.36M$656.62M$622.30M$472.81M
Goodwill$731.59M$620.89M$627.53M$620.62M$636.86M$443.27M$436.68M$413.64M$422.19M$333.28M
Total assets$2.55B$2.21B$2.17B$2.38B$2.40B$1.92B$1.78B$1.61B$1.68B$1.35B
Current liabilities$289.21M$288.09M$332.82M$345.87M$330.61M$310.55M$277.51M$282.06M$289.28M$221.41M
Short-term debt$8.22M$26.39M$26.52M$7.39M$0$20.00M$20.00M$20.06M$26.68M$26.67M
Long-term debt$572.71M$481.62M$575.17M$565.45M$597.65M$287.16M$328.39M$341.31M$447.83M$363.84M
Total debt$580.93M$508.01M$601.69M$572.83M$597.65M$307.16M$348.39M$361.37M$474.51M$390.50M
Total liabilities$1.19B$1.06B$1.20B$1.45B$1.56B$1.07B$1.01B$968.49M$1.08B$792.71M
Shareholders' equity$1.37B$1.14B$966.80M$923.74M$834.39M$839.20M$725.80M$633.88M$597.60M$558.16M

Cash flow

Cash flow
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Operating cash flow$363.87M$296.43M$92.86M$157.46M$199.15M$206.56M$164.96M$263.89M$230.34M$134.89M
Capital expenditures$68.44M$54.22M$42.76M$42.55M$43.84M$48.91M$36.60M$33.96M$23.73M$25.52M
Free cash flow$295.43M$242.21M$50.09M$114.90M$155.31M$157.65M$128.36M$229.93M$206.61M$109.37M
Investing cash flow-$257.63M-$53.76M-$39.95M-$4.48M-$415.47M-$72.77M-$64.16M-$84.39M-$239.20M-$25.46M
Financing cash flow-$105.47M-$208.69M-$52.25M-$113.35M$203.93M-$126.53M-$84.62M-$163.27M$25.60M-$99.35M
Dividends paid$82.34M$78.76M$73.49M$71.50M$68.59M$66.58M$63.52M$57.25M$52.54M$49.07M
Stock-based compensation$15.20M$18.18M$30.02M$19.65M$18.91M$6.92M$13.76M$12.24M$11.76M$9.21M
Depreciation and amortization$71.59M$64.33M$60.77M$56.32M$45.42M$39.67M$38.02M$37.85M$37.88M$35.27M

Key ratios

Key ratios
Line item
Dec 31, 2025
Dec 31, 2024
Dec 31, 2023
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Revenue growth, YoY3.7%1.1%17.0%9.1%3.9%-3.8%3.2%13.5%4.1%1.7%
Net income growth, YoY-2.1%386.4%-67.4%741.8%-82.8%-10.1%11.2%377.0%-71.7%29.8%
EPS growth, YoY-1.7%387.2%-67.5%744.4%-82.9%-10.5%10.7%374.6%-72.3%29.4%
Gross margin46.5%47.6%47.7%44.1%43.9%44.2%45.6%45.1%45.0%45.4%
Operating margin19.8%21.5%12.9%15.7%1.6%12.7%13.4%12.8%3.3%14.0%
Net margin14.9%15.8%3.3%11.8%1.5%9.2%9.8%9.1%2.2%8.0%
Free cash flow margin15.8%13.4%2.8%7.5%11.1%11.7%9.2%16.9%17.3%9.5%
Return on equity20.4%24.9%6.1%19.4%2.6%14.8%19.0%19.6%4.4%16.5%
Return on assets10.9%12.9%2.7%7.6%0.9%6.5%7.7%7.7%1.5%6.8%
Current ratio3.012.792.362.542.402.582.502.332.152.14
Debt to equity0.420.440.620.620.720.370.480.570.790.70

Source: XBRL data MSA Safety Incorporated files with the SEC, latest filing dated Nov 3, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

MSA peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
MSA$2.01B+8.1%$302.79M15.0%$6.67B
ISRG$11.58B+20.5%$2.96B25.5%$159.65B
EW$6.67B+13.4%$1.02B15.3%$60.21B
STE$6.17B+8.1%$826.90M13.4%$24.95B
ZBH$8.57B+7.0%$767.30M9.0%$20.50B
MAS$7.67B+0.9%$926.00M12.1%$16.56B
SNN$6.16B+6.1%$625.00M10.1%$13.00B
ALGN$4.16B+4.4%$491.87M11.8%$12.28B
AIT$5.06B+8.5%$424.12M8.4%$10.86B

MSA FAQ

9 questions
  • What is MSA revenue?
    MSA Safety Incorporated (MSA) reported $2.01B of revenue for the twelve months ended Sep 30, 2026. That is up 8.1% from the year before. Revenue for fiscal 2025 was $1.87B.
  • Is MSA profitable?
    Yes. MSA Safety Incorporated earned $302.79M in net income for the twelve months ended Sep 30, 2026, a net margin of 15.0%.
  • How much cash and debt does MSA have?
    MSA Safety Incorporated reported $187.25M in cash and cash equivalents and $1.12B of debt on its most recent balance sheet in SEC filings.
  • How fast is MSA revenue growing?
    MSA Safety Incorporated's revenue changed +3.7% in fiscal 2025, to $1.87B. Its compound annual growth rate was +6.8% over 5 years and +5.2% over 10 years.
  • What is MSA gross margin?
    MSA Safety Incorporated's gross profit was $952.50M on $2.01B of revenue for the twelve months ended Sep 30, 2026, a gross margin of 47.3%.
  • What is MSA free cash flow?
    MSA Safety Incorporated generated $322.01M of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of $375.73M less capital expenditures.
  • What is MSA earnings per share?
    Diluted earnings per share were $7.78 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.
  • When did MSA last report financial results?
    The latest statements here come from MSA Safety Incorporated's 10-Q filed on Nov 3, 2026, covering the period ended Sep 30, 2026.
  • Where does this MSA financial data come from?
    Quantisnow builds these statements from the structured XBRL data MSA Safety Incorporated files with the SEC. It is provided for information only and is not investment advice.