MSA Safety (MSA) Financials

$164.23 +1.90 (+1.17%)

Closing price 05/29/2025 03:59 PM Eastern

Extended Trading

$164.20 -0.02 (-0.02%)

As of 05/29/2025 04:15 PM Eastern

Annual Income Statements for MSA Safety

This table shows MSA Safety's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Income / (Loss) Attributable to Common Shareholders	285	59	180	21	124	138	124	26	92	71
Consolidated Net Income / (Loss)	285	59	180	22	125	139	125	27	92	71
Net Income / (Loss) Continuing Operations	285	59	180	22	125	139	125	27	94	67
Total Pre-Tax Income	375	207	239	24	168	186	162	30	152	111
Total Operating Income	389	231	239	23	172	188	173	40	161	123
Total Gross Profit	860	852	674	615	595	639	612	539	522	501
Total Revenue	1,808	1,788	1,528	1,400	1,348	1,402	1,358	1,197	1,150	1,131
Operating Revenue	1,808	1,788	1,528	1,400	1,348	1,402	1,358	1,197	1,150	1,131
Total Cost of Revenue	948	936	854	785	753	763	746	658	627	630
Operating Cost of Revenue	948	936	854	785	753	763	746	658	627	630
Total Operating Expenses	471	621	435	593	424	450	438	499	362	378
Selling, General & Admin Expense	395	397	339	333	290	331	370	426	308	315
Marketing Expense	0.00	0.00	21	185	39	28	-	-	-	-
Research & Development Expense	67	68	57	58	58	58	53	50	47	49
Other Operating Expenses / (Income)	3.64	17	10	0.22	8.58	20	2.33	5.13	0.77	2.20
Restructuring Charge	6.40	9.89	7.97	16	27	14	13	18	5.69	12
Other Special Charges / (Income)	0.00	129	0.00	-	-	-	-	-	-	-
Total Other Income / (Expense), net	-14	-25	-0.60	0.82	-3.75	-2.50	-11	-9.80	-8.79	-12
Interest Expense	37	47	22	11	9.43	14	20	15	16	11
Other Income / (Expense), net	23	22	21	12	5.68	11	9.23	5.56	7.62	-0.86
Income Tax Expense	90	148	59	1.82	43	47	37	2.82	58	44
Basic Earnings per Share	$7.24	$1.49	$4.58	$0.54	$3.19	$3.56	-	-	$2.45	$1.89
Weighted Average Basic Shares Outstanding	39.25M	39.32M	39.21M	39.28M	39.09M	38.86M	38.36M	38.00M	37.46M	37.29M
Diluted Earnings per Share	$7.21	$1.48	$4.56	$0.54	$3.15	$3.52	-	-	$2.42	$1.87
Weighted Average Diluted Shares Outstanding	39.25M	39.32M	39.21M	39.28M	39.09M	38.86M	38.36M	38.00M	37.46M	37.29M
Weighted Average Basic & Diluted Shares Outstanding	39.25M	39.32M	39.21M	39.28M	39.09M	38.86M	38.36M	38.00M	37.46M	37.29M
Cash Dividends to Common per Share	$2.00	$1.87	$1.82	$1.75	$1.71	$1.64	$1.49	-	$1.31	$1.27

This table shows MSA Safety's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	60	88	67	72	58	76	65	67	-150	51	45
Consolidated Net Income / (Loss)	60	88	67	72	58	76	65	67	-150	51	45
Net Income / (Loss) Continuing Operations	60	88	67	72	58	76	65	67	-150	51	45
Total Pre-Tax Income	78	117	88	94	76	99	88	87	-68	69	61
Total Operating Income	78	118	91	100	80	102	94	95	-60	71	64
Total Gross Profit	193	234	207	223	196	238	219	214	181	197	169
Total Revenue	421	500	433	462	413	495	447	447	398	443	382
Operating Revenue	421	500	433	462	413	495	447	447	398	443	382
Total Cost of Revenue	228	265	225	239	218	257	228	234	217	246	212
Operating Cost of Revenue	228	265	225	239	218	257	228	234	217	246	212
Total Operating Expenses	116	117	116	123	115	136	125	119	241	127	105
Selling, General & Admin Expense	94	100	95	105	94	107	102	96	91	91	83
Research & Development Expense	16	17	17	17	16	19	18	16	15	14	14
Other Operating Expenses / (Income)	4.08	-1.08	2.99	-0.60	2.33	8.30	1.50	3.11	4.18	5.47	2.98
Restructuring Charge	1.92	0.65	1.18	1.54	3.02	1.51	3.29	3.35	1.75	4.82	0.90
Total Other Income / (Expense), net	0.19	-0.83	-3.32	-5.52	-4.51	-2.97	-6.46	-7.53	-7.68	-1.57	-3.60
Interest Expense	6.84	7.33	9.15	9.66	11	9.58	12	13	11	7.50	5.96
Other Income / (Expense), net	7.02	6.50	5.83	4.15	6.24	6.61	6.04	5.65	3.80	5.93	2.36
Income Tax Expense	18	29	22	22	17	23	22	20	82	18	16
Basic Earnings per Share	$1.51	$2.24	$1.69	$1.83	$1.48	$1.95	$1.66	$1.71	($3.83)	$1.32	$1.15
Weighted Average Basic Shares Outstanding	39.31M	39.25M	39.31M	39.35M	39.38M	39.32M	-	-	39.31M	39.21M	39.20M
Diluted Earnings per Share	$1.51	$2.22	$1.69	$1.83	$1.47	$1.96	$1.65	$1.70	($3.83)	$1.31	$1.14
Weighted Average Diluted Shares Outstanding	39.31M	39.25M	39.31M	39.35M	39.38M	39.32M	-	-	39.31M	39.21M	39.20M
Weighted Average Basic & Diluted Shares Outstanding	39.31M	39.25M	39.31M	39.35M	39.38M	39.32M	-	-	39.31M	39.21M	39.20M
Cash Dividends to Common per Share	$0.51	$0.51	$0.51	$0.51	$0.47	$0.47	$0.47	$0.47	$0.46	$0.46	$0.46

This table details how cash moves in and out of MSA Safety's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Change in Cash & Equivalents	17	-16	23	-20	8.49	12	2.72	23	6.60	-0.07
Net Cash From Operating Activities	296	93	157	199	207	165	264	230	135	55
Net Cash From Continuing Operating Activities	296	93	157	199	207	165	264	230	135	55
Net Income / (Loss) Continuing Operations	285	59	180	22	125	139	125	27	94	68
Consolidated Net Income / (Loss)	285	59	180	22	125	139	125	27	94	68
Depreciation Expense	64	61	56	50	40	38	38	38	35	32
Non-Cash Adjustments To Reconcile Net Income	14	-102	34	38	37	58	124	148	59	-19
Changes in Operating Assets and Liabilities, net	-67	76	-113	89	5.07	-71	-23	18	-53	-25
Net Cash From Investing Activities	-54	-40	-4.48	-415	-73	-64	-84	-239	-25	-208
Net Cash From Continuing Investing Activities	-54	-40	-4.48	-415	-73	-64	-84	-239	-25	-208
Purchase of Property, Plant & Equipment	-54	-43	-43	-44	-49	-37	-34	-24	-26	-36
Purchase of Investments	0.00	0.00	-80	-134	-199	-169	-73	0.00	0.00	-
Sale and/or Maturity of Investments	0.00	0.00	119	160	175	175	18	0.00	0.00	-
Other Investing Activities, net	0.47	2.81	-1.39	-5.29	0.45	0.22	-	-	-	-
Net Cash From Financing Activities	-209	-52	-113	204	-127	-85	-163	26	-99	165
Net Cash From Continuing Financing Activities	-209	-52	-113	204	-127	-85	-163	26	-99	165
Repayment of Debt	-1,244	-1,872	-1,023	-1,349	-1,031	-881	-573	-560	-444	-292
Repurchase of Common Equity	-37	-3.96	-34	-6.17	-29	-13	-4.82	-18	-1.88	-9.89
Payment of Dividends	-79	-73	-71	-88	-67	-64	-57	-53	-49	-47
Issuance of Debt	1,150	1,895	1,010	1,640	987	864	463	637	383	511
Issuance of Common Equity	1.36	0.96	0.89	0.86	0.75	0.64	0.56	0.53	0.57	0.49
Other Financing Activities, net	0.50	1.47	4.65	5.77	12	7.47	8.57	18	13	1.93
Effect of Exchange Rate Changes	-17	-	-	-	-	-4.24	-14	6.19	-3.48	-12
Cash Interest Paid	36	47	21	9.29	9.86	14	20	16	16	11
Cash Income Taxes Paid	103	69	60	46	61	49	41	40	58	50

This table details how cash moves in and out of MSA Safety's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	6.20	10	6.14	-1.48	1.91	-18	18	8.24	-24	3.14	26
Net Cash From Operating Activities	62	108	84	53	51	159	125	95	-286	54	64
Net Cash From Continuing Operating Activities	62	108	84	53	51	159	125	95	-286	54	64
Net Income / (Loss) Continuing Operations	60	88	67	72	58	76	65	67	-150	51	45
Consolidated Net Income / (Loss)	60	88	67	72	58	76	65	67	-150	51	45
Depreciation Expense	16	17	16	16	16	16	16	15	15	14	14
Non-Cash Adjustments To Reconcile Net Income	2.87	0.69	5.20	4.24	4.36	16	7.99	12	-138	11	12
Changes in Operating Assets and Liabilities, net	-17	2.50	-3.48	-39	-27	51	36	1.44	-13	-23	-6.94
Net Cash From Investing Activities	-11	-14	-14	-14	-11	-12	-13	-7.28	-8.37	-0.09	1.20
Net Cash From Continuing Investing Activities	-11	-14	-14	-14	-11	-12	-13	-7.28	-8.37	-0.09	1.20
Purchase of Property, Plant & Equipment	-11	-14	-14	-14	-11	-12	-13	-9.92	-8.40	-14	-8.95
Other Investing Activities, net	0.02	0.38	0.02	0.07	0.00	0.12	0.02	2.64	0.04	-1.43	0.04
Net Cash From Financing Activities	-46	-73	-68	-39	-29	-163	-86	-76	273	-57	-26
Net Cash From Continuing Financing Activities	-46	-73	-68	-39	-29	-163	-86	-76	273	-57	-26
Repayment of Debt	-253	-324	-309	-280	-331	-533	-467	-366	-507	-252	-236
Repurchase of Common Equity	-18	-9.91	-11	-11	-5.84	-0.02	-0.07	-0.18	-3.69	-0.03	-2.21
Payment of Dividends	-20	-20	-20	-20	-18	-18	-18	-18	-18	-18	-18
Issuance of Debt	246	281	271	272	326	388	399	307	801	212	226
Other Financing Activities, net	0.23	0.01	0.17	0.07	0.25	0.03	0.90	0.54	0.00	0.49	3.87
Effect of Exchange Rate Changes	0.74	-11	4.50	-1.88	-8.68	-	-	-	-2.29	-	-13

This table presents MSA Safety's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Total Assets	2,206	2,170	2,377	2,396	1,920	1,740	1,608	1,685	1,354	1,423
Total Current Assets	803	786	880	793	801	693	657	622	473	505
Cash & Equivalents	165	146	163	141	161	152	140	134	114	106
Accounts Receivable	279	295	297	254	252	255	245	244	210	233
Inventories, net	297	293	338	281	245	185	157	154	103	126
Prepaid Expenses	44	40	44	43	39	34	45	41	26	24
Current Deferred & Refundable Income Taxes	19	13	22	21	26	13	11	31	16	8.75
Plant, Property, & Equipment, net	212	212	208	208	190	167	158	157	149	156
Total Noncurrent Assets	1,191	1,172	1,289	1,396	929	879	793	906	732	762
Goodwill	621	628	621	637	443	437	414	422	333	340
Intangible Assets	246	266	282	307	161	171	170	183	77	90
Noncurrent Deferred & Refundable Income Taxes	26	33	25	35	36	33	33	26	23	26
Employee Benefit Assets	225	172	142	163	98	75	58	83	63	62
Other Noncurrent Operating Assets	73	73	181	209	143	111	64	132	173	242
Total Liabilities & Shareholders' Equity	2,206	2,170	2,377	2,396	1,920	1,740	1,608	1,685	1,354	1,423
Total Liabilities	1,062	1,203	1,453	1,562	1,072	1,007	968	1,082	793	906
Total Current Liabilities	288	333	346	331	311	278	282	289	221	252
Short-Term Debt	26	27	7.39	0.00	20	20	20	27	27	6.65
Accounts Payable	108	112	113	107	87	89	78	87	63	68
Current Deferred & Payable Income Tax Liabilities	15	20	6.15	5.37	3.58	6.74	0.00	-	3.89	12
Current Employee Benefit Liabilities	55	73	45	50	40	42	51	39	40	38
Other Current Liabilities	84	101	175	169	160	120	132	136	88	128
Total Noncurrent Liabilities	774	871	1,107	1,231	762	730	686	793	571	654
Long-Term Debt	482	575	565	598	287	328	341	448	364	458
Noncurrent Deferred & Payable Income Tax Liabilities	108	102	32	33	21	9.79	7.16	9.34	34	25
Noncurrent Employee Benefit Liabilities	134	144	138	190	208	187	166	171	158	156
Other Noncurrent Operating Liabilities	51	49	372	410	246	205	172	165	15	15
Total Equity & Noncontrolling Interests	1,143	967	924	834	847	733	640	603	561	517
Total Preferred & Common Equity	1,143	967	924	834	839	726	634	598	558	516
Preferred Stock	3.57	3.57	3.57	3.57	3.57	3.57	3.57	3.57	3.57	3.57
Total Common Equity	1,140	963	920	831	836	722	630	594	555	513
Common Stock	330	312	282	260	243	229	212	195	173	158
Retained Earnings	1,350	1,143	1,158	1,050	1,103	1,012	936	869	901	859
Treasury Stock	-398	-363	-361	-330	-328	-305	-298	-298	-289	-295
Accumulated Other Comprehensive Income / (Loss)	-142	-129	-159	-149	-182	-214	-219	-172	-230	-208

This table presents MSA Safety's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q3 2024	Q2 2024	Q1 2024	Q1 2023	Q3 2022
Period end date	3/31/2025	9/30/2024	6/30/2024	3/31/2024	9/30/2023	9/30/2022
Total Assets	2,236	2,242	2,244	2,174	2,194	2,387
Total Current Assets	823	843	861	793	852	862
Cash & Equivalents	171	154	147	148	164	160
Accounts Receivable	294	277	299	279	295	249
Inventories, net	307	352	321	306	324	350
Prepaid Expenses	51	59	55	46	39	42
Plant, Property, & Equipment, net	212	217	213	211	206	200
Total Noncurrent Assets	1,201	1,183	1,169	1,170	1,137	1,326
Goodwill	627	633	625	625	620	607
Intangible Assets	244	254	256	261	268	281
Noncurrent Deferred & Refundable Income Taxes	27	35	34	34	26	32
Employee Benefit Assets	230	184	180	176	151	183
Other Noncurrent Operating Assets	73	77	74	74	71	184
Total Liabilities & Shareholders' Equity	2,236	2,242	2,244	2,174	2,194	2,387
Total Liabilities	1,046	1,147	1,210	1,180	1,326	1,545
Total Current Liabilities	280	314	352	317	325	349
Short-Term Debt	33	27	26	26	26	6.82
Accounts Payable	116	128	132	117	109	105
Current Employee Benefit Liabilities	40	57	42	38	59	47
Other Current Liabilities	92	103	110	100	104	167
Total Noncurrent Liabilities	765	832	858	863	1,000	1,196
Long-Term Debt	469	528	562	570	716	598
Noncurrent Deferred & Payable Income Tax Liabilities	108	103	102	102	102	30
Noncurrent Employee Benefit Liabilities	137	144	141	142	138	174
Other Noncurrent Operating Liabilities	51	57	53	49	45	394
Total Equity & Noncontrolling Interests	1,190	1,095	1,034	995	869	842
Total Preferred & Common Equity	1,190	1,095	1,034	995	869	842
Preferred Stock	3.57	3.57	3.57	3.57	3.57	3.57
Total Common Equity	1,187	1,092	1,030	991	865	839
Common Stock	330	325	321	315	303	273
Retained Earnings	1,389	1,282	1,235	1,183	1,086	1,125
Treasury Stock	-414	-388	-378	-368	-363	-362
Accumulated Other Comprehensive Income / (Loss)	-119	-126	-148	-140	-160	-197

This table displays calculated financial ratios and metrics derived from MSA Safety's official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	1.15%	17.00%	9.13%	3.85%	-3.83%	3.23%	13.48%	4.11%	1.66%	-0.27%
EBITDA Growth	51.57%	-0.73%	273.78%	-61.02%	-8.47%	7.62%	165.70%	-59.23%	32.58%	-8.04%
EBIT Growth	62.53%	-2.60%	657.21%	-80.65%	-10.92%	9.10%	304.81%	-73.19%	38.10%	-11.08%
NOPAT Growth	351.06%	-63.59%	756.43%	-83.56%	-9.32%	5.51%	273.16%	-64.01%	35.17%	-19.03%
Net Income Growth	386.43%	-67.39%	724.44%	-82.59%	-10.11%	11.26%	364.15%	-70.68%	29.84%	-20.00%
EPS Growth	387.16%	-67.54%	744.44%	-82.86%	-10.51%	0.00%	0.00%	0.00%	29.41%	-19.74%
Operating Cash Flow Growth	219.23%	-41.03%	-20.93%	-3.59%	25.21%	-37.49%	14.57%	70.75%	144.13%	-67.77%
Free Cash Flow Firm Growth	806.01%	-133.22%	132.56%	-443.26%	29.79%	-74.94%	492.05%	-150.26%	216.64%	-178.11%
Invested Capital Growth	4.55%	7.42%	6.57%	35.21%	4.53%	9.08%	-14.55%	12.52%	-4.33%	27.98%
Revenue Q/Q Growth	0.24%	3.00%	2.21%	1.60%	0.97%	0.97%	1.17%	4.37%	-1.43%	0.22%
EBITDA Q/Q Growth	3.53%	12.01%	106.14%	-55.90%	-7.87%	0.62%	50.02%	-48.35%	10.99%	-8.98%
EBIT Q/Q Growth	3.85%	14.61%	166.57%	-76.36%	-9.79%	0.53%	68.83%	-63.73%	13.93%	-11.97%
NOPAT Q/Q Growth	3.44%	72.12%	173.06%	-78.85%	-11.42%	4.23%	75.77%	-59.94%	3.09%	-12.46%
Net Income Q/Q Growth	4.22%	74.03%	169.45%	-78.20%	-11.59%	6.07%	85.63%	-67.30%	1.08%	-13.41%
EPS Q/Q Growth	3.74%	78.31%	169.82%	-78.49%	-12.01%	0.00%	0.00%	0.00%	4.31%	-13.82%
Operating Cash Flow Q/Q Growth	-14.68%	842.56%	-8.94%	-12.09%	10.54%	-0.59%	16.10%	-21.31%	75.50%	-57.65%
Free Cash Flow Firm Q/Q Growth	119.10%	-102.52%	32.99%	-19.93%	-29.56%	-38.50%	48.21%	-271.34%	230.48%	-195.49%
Invested Capital Q/Q Growth	-0.60%	0.00%	4.85%	-2.24%	-0.04%	-2.31%	-7.89%	-3.93%	-10.12%	19.92%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	47.59%	47.67%	44.10%	43.95%	44.17%	45.55%	45.05%	45.03%	45.43%	44.31%
EBITDA Margin	26.34%	17.58%	20.71%	6.05%	16.11%	16.93%	16.24%	6.94%	17.71%	13.58%
Operating Margin	21.52%	12.94%	15.65%	1.63%	12.75%	13.43%	12.77%	3.31%	13.98%	10.85%
EBIT Margin	22.78%	14.18%	17.03%	2.45%	13.17%	14.22%	13.45%	3.77%	14.64%	10.78%
Profit (Net Income) Margin	15.76%	3.28%	11.76%	1.56%	9.28%	9.93%	9.21%	2.25%	8.00%	6.26%
Tax Burden Percent	75.99%	28.34%	75.31%	92.31%	74.42%	74.94%	77.07%	90.53%	60.52%	63.78%
Interest Burden Percent	91.04%	81.56%	91.68%	68.69%	94.69%	93.18%	88.85%	65.97%	90.25%	91.09%
Effective Tax Rate	24.01%	71.66%	24.69%	7.69%	25.58%	25.06%	22.93%	9.47%	38.05%	40.00%
Return on Invested Capital (ROIC)	20.33%	4.78%	14.04%	1.95%	14.23%	16.75%	15.29%	4.02%	11.62%	9.44%
ROIC Less NNEP Spread (ROIC-NNEP)	17.64%	3.14%	13.92%	2.26%	11.67%	15.55%	11.90%	1.15%	9.22%	8.31%
Return on Net Nonoperating Assets (RNNOA)	6.68%	1.42%	6.40%	0.65%	1.61%	3.54%	4.85%	0.61%	5.43%	3.97%
Return on Equity (ROE)	27.01%	6.20%	20.43%	2.59%	15.84%	20.29%	20.15%	4.63%	17.05%	13.41%
Cash Return on Invested Capital (CROIC)	15.88%	-2.38%	7.68%	-27.99%	9.80%	8.06%	30.98%	-7.76%	16.04%	-15.11%
Operating Return on Assets (OROA)	18.83%	11.15%	10.90%	1.59%	9.71%	11.91%	11.10%	2.97%	12.12%	9.07%
Return on Assets (ROA)	13.02%	2.58%	7.53%	1.01%	6.84%	8.32%	7.60%	1.77%	6.62%	5.27%
Return on Common Equity (ROCE)	26.92%	6.17%	20.35%	2.57%	15.62%	20.00%	19.86%	4.57%	16.88%	13.25%
Return on Equity Simple (ROE_SIMPLE)	24.92%	6.06%	19.45%	2.61%	14.91%	19.18%	19.74%	4.51%	16.47%	13.71%
Net Operating Profit after Tax (NOPAT)	296	66	180	21	128	141	134	36	100	74
NOPAT Margin	16.36%	3.67%	11.79%	1.50%	9.49%	10.06%	9.84%	2.99%	8.66%	6.51%
Net Nonoperating Expense Percent (NNEP)	2.70%	1.63%	0.11%	-0.32%	2.56%	1.20%	3.39%	2.88%	2.40%	1.13%
Return On Investment Capital (ROIC_SIMPLE)	17.91%	4.18%	12.03%	-	-	-	-	-	-	-
Cost of Revenue to Revenue	52.41%	52.33%	55.90%	56.05%	55.83%	54.45%	54.95%	54.97%	54.57%	55.69%
SG&A Expenses to Revenue	21.83%	22.19%	22.18%	23.77%	21.53%	23.57%	27.25%	35.64%	26.81%	27.88%
R&D to Revenue	3.68%	3.80%	3.73%	4.13%	4.32%	4.13%	3.88%	4.18%	4.08%	4.30%
Operating Expenses to Revenue	26.06%	34.73%	28.45%	42.32%	31.42%	32.12%	32.28%	41.72%	31.45%	33.46%
Earnings before Interest and Taxes (EBIT)	412	253	260	34	178	199	183	45	168	122
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	476	314	317	85	217	237	221	83	204	154
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	5.70	6.79	5.98	6.88	6.66	6.39	5.35	4.54	4.21	2.76
Price to Tangible Book Value (P/TBV)	23.85	94.05	311.02	0.00	24.05	40.43	71.45	0.00	16.20	17.18
Price to Revenue (P/Rev)	3.59	3.66	3.60	4.08	4.13	3.29	2.48	2.25	2.03	1.25
Price to Earnings (P/E)	22.80	111.68	30.64	268.00	44.83	33.47	27.14	103.55	25.42	20.02
Dividend Yield	1.21%	1.12%	1.30%	1.20%	1.20%	1.38%	1.70%	1.95%	2.62%	3.35%
Earnings Yield	4.39%	0.90%	3.26%	0.37%	2.23%	2.99%	3.68%	0.97%	3.93%	5.00%
Enterprise Value to Invested Capital (EV/IC)	4.60	4.92	4.46	4.94	6.15	5.43	4.40	3.23	3.13	2.03
Enterprise Value to Revenue (EV/Rev)	3.78	3.92	3.87	4.38	4.19	3.41	2.61	2.54	2.28	1.57
Enterprise Value to EBITDA (EV/EBITDA)	14.37	22.28	18.67	72.40	25.99	20.12	16.07	36.67	12.87	11.59
Enterprise Value to EBIT (EV/EBIT)	16.61	27.63	22.71	178.41	31.79	23.95	19.40	67.44	15.57	14.61
Enterprise Value to NOPAT (EV/NOPAT)	23.14	106.78	32.81	291.55	44.13	33.85	26.51	84.95	26.32	24.18
Enterprise Value to Operating Cash Flow (EV/OCF)	23.09	75.40	37.52	30.78	27.33	28.95	13.43	13.21	19.43	32.22
Enterprise Value to Free Cash Flow (EV/FCFF)	29.62	0.00	59.98	0.00	64.08	70.33	13.09	0.00	19.07	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.44	0.62	0.62	0.72	0.36	0.48	0.57	0.79	0.70	0.90
Long-Term Debt to Equity	0.42	0.59	0.61	0.72	0.34	0.45	0.53	0.74	0.65	0.89
Financial Leverage	0.38	0.45	0.46	0.29	0.14	0.23	0.41	0.53	0.59	0.48
Leverage Ratio	2.07	2.41	2.72	2.57	2.32	2.44	2.65	2.61	2.58	2.55
Compound Leverage Factor	1.89	1.96	2.49	1.76	2.19	2.27	2.36	1.72	2.32	2.32
Debt to Total Capital	30.76%	38.36%	38.28%	41.73%	26.61%	32.23%	36.11%	44.06%	41.03%	47.33%
Short-Term Debt to Total Capital	1.60%	1.69%	0.49%	0.00%	1.73%	1.85%	2.00%	2.48%	2.80%	0.68%
Long-Term Debt to Total Capital	29.17%	36.67%	37.78%	41.73%	24.88%	30.38%	34.10%	41.58%	38.23%	46.65%
Preferred Equity to Total Capital	0.22%	0.23%	0.24%	0.25%	0.31%	0.33%	0.36%	0.33%	0.38%	0.36%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.69%	0.63%	0.56%	0.46%	0.32%	0.06%
Common Equity to Total Capital	69.02%	61.41%	61.49%	58.02%	72.39%	66.81%	62.98%	55.15%	58.27%	52.24%
Debt to EBITDA	1.07	1.92	1.81	7.06	1.41	1.47	1.64	5.72	1.92	3.03
Net Debt to EBITDA	0.72	1.45	1.26	4.82	0.33	0.62	0.75	4.10	1.36	2.34
Long-Term Debt to EBITDA	1.01	1.83	1.79	7.06	1.32	1.38	1.55	5.39	1.79	2.98
Debt to NOPAT	1.72	9.18	3.18	28.42	2.40	2.47	2.70	13.24	3.92	6.31
Net Debt to NOPAT	1.16	6.94	2.22	19.39	0.56	1.04	1.24	9.50	2.78	4.87
Long-Term Debt to NOPAT	1.63	8.77	3.14	28.42	2.24	2.33	2.55	12.50	3.65	6.22
Altman Z-Score	6.24	5.46	4.23	3.67	5.23	5.04	4.40	3.25	4.18	3.07
Noncontrolling Interest Sharing Ratio	0.34%	0.38%	0.41%	0.90%	1.39%	1.42%	1.43%	1.30%	1.00%	1.19%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.79	2.36	2.54	2.40	2.58	2.50	2.33	2.15	2.14	2.00
Quick Ratio	1.54	1.33	1.38	1.36	1.58	1.66	1.57	1.37	1.48	1.37
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	231	-33	98	-302	88	68	271	-69	137	-118
Operating Cash Flow to CapEx	546.68%	217.14%	370.02%	454.29%	422.36%	450.67%	898.40%	1,006.14%	1,845.59%	195.80%
Free Cash Flow to Firm to Interest Expense	6.26	-0.70	4.55	-28.11	9.34	5.00	13.29	-4.50	8.38	-10.86
Operating Cash Flow to Interest Expense	8.04	1.99	7.27	18.51	21.90	12.14	12.95	15.00	8.22	5.09
Operating Cash Flow Less CapEx to Interest Expense	6.57	1.07	5.30	14.44	16.71	9.45	11.51	13.51	7.77	2.49
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.83	0.79	0.64	0.65	0.74	0.84	0.82	0.79	0.83	0.84
Accounts Receivable Turnover	6.30	6.04	5.54	5.53	5.31	5.61	5.55	5.28	5.20	5.09
Inventory Turnover	3.22	2.97	2.76	2.99	3.50	4.47	4.81	5.12	5.48	5.06
Fixed Asset Turnover	8.53	8.52	7.36	7.05	7.56	8.63	8.62	7.83	7.55	7.36
Accounts Payable Turnover	8.61	8.34	7.79	8.11	8.56	9.12	9.02	8.78	9.58	9.10
Days Sales Outstanding (DSO)	57.92	60.41	65.84	66.01	68.68	65.10	65.74	69.19	70.23	71.71
Days Inventory Outstanding (DIO)	113.50	123.08	132.25	122.22	104.25	81.68	75.90	71.24	66.60	72.11
Days Payable Outstanding (DPO)	42.37	43.78	46.86	45.03	42.67	40.04	40.46	41.55	38.10	40.12
Cash Conversion Cycle (CCC)	129.05	139.71	151.22	143.20	130.27	106.73	101.18	98.87	98.74	103.70
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,487	1,422	1,324	1,242	919	879	806	943	838	876
Invested Capital Turnover	1.24	1.30	1.19	1.30	1.50	1.66	1.55	1.34	1.34	1.45
Increase / (Decrease) in Invested Capital	65	98	82	323	40	73	-137	105	-38	191
Enterprise Value (EV)	6,843	7,001	5,908	6,131	5,646	4,775	3,545	3,044	2,621	1,781
Market Capitalization	6,496	6,542	5,504	5,719	5,563	4,618	3,369	2,695	2,337	1,418
Book Value per Share	$28.99	$24.50	$23.47	$21.19	$21.45	$18.64	$16.39	$15.62	$14.75	$13.74
Tangible Book Value per Share	$6.93	$1.77	$0.45	($2.88)	$5.94	$2.95	$1.23	($0.30)	$3.84	$2.21
Total Capital	1,651	1,568	1,497	1,432	1,154	1,081	1,001	1,077	952	982
Total Debt	508	602	573	598	307	348	361	475	391	465
Total Long-Term Debt	482	575	565	598	287	328	341	448	364	458
Net Debt	343	455	400	408	72	146	166	340	277	359
Capital Expenditures (CapEx)	54	43	43	44	49	37	29	23	7.31	28
Debt-free, Cash-free Net Working Capital (DFCFNWC)	377	334	369	272	275	234	199	225	164	153
Debt-free Net Working Capital (DFNWC)	541	480	542	462	511	436	395	360	278	259
Net Working Capital (NWC)	515	453	534	462	491	416	375	333	251	253
Net Nonoperating Expense (NNE)	11	6.98	0.45	-0.76	2.79	1.87	8.59	8.87	7.62	2.84
Net Nonoperating Obligations (NNO)	343	455	400	408	72	146	166	340	277	359
Total Depreciation and Amortization (D&A)	64	61	56	50	40	38	38	38	35	32
Debt-free, Cash-free Net Working Capital to Revenue	20.84%	18.66%	24.14%	19.45%	20.41%	16.67%	14.68%	18.84%	14.29%	13.57%
Debt-free Net Working Capital to Revenue	29.94%	26.85%	35.45%	33.01%	37.89%	31.09%	29.06%	30.05%	24.19%	22.94%
Net Working Capital to Revenue	28.48%	25.37%	34.97%	33.01%	36.41%	29.66%	27.58%	27.83%	21.87%	22.35%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$7.24	$1.49	$4.58	$0.54	$0.00	$0.00	$3.23	$0.68	$2.45	$1.89
Adjusted Weighted Average Basic Shares Outstanding	39.25M	39.32M	39.21M	39.28M	39.09M	38.86M	38.23M	38.23M	37.76M	37.37M
Adjusted Diluted Earnings per Share	$7.21	$1.48	$4.56	$0.54	$0.00	$0.00	$3.18	$0.67	$2.42	$1.87
Adjusted Weighted Average Diluted Shares Outstanding	39.25M	39.32M	39.21M	39.28M	39.09M	38.86M	38.23M	38.23M	37.76M	37.37M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	39.25M	39.32M	39.21M	39.28M	39.09M	38.86M	38.23M	38.23M	37.76M	37.37M
Normalized Net Operating Profit after Tax (NOPAT)	301	259	186	36	148	151	144	52	103	81
Normalized NOPAT Margin	16.62%	14.50%	12.18%	2.59%	11.00%	10.80%	10.60%	4.33%	8.97%	7.16%
Pre Tax Income Margin	20.74%	11.56%	15.61%	1.69%	12.47%	13.25%	11.95%	2.49%	13.22%	9.82%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	11.17	5.42	12.01	3.19	18.83	14.67	8.97	2.94	10.26	11.23
NOPAT to Interest Expense	8.02	1.40	8.31	1.95	13.56	10.38	6.56	2.33	6.07	6.79
EBIT Less CapEx to Interest Expense	9.70	4.51	10.05	-0.88	13.64	11.98	7.53	1.45	9.81	8.63
NOPAT Less CapEx to Interest Expense	6.55	0.49	6.35	-2.12	8.38	7.69	5.12	0.84	5.62	4.19
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	27.64%	125.44%	39.80%	402.05%	53.20%	45.63%	45.76%	194.90%	53.38%	66.91%
Augmented Payout Ratio	40.74%	132.20%	58.95%	430.37%	76.49%	54.72%	49.61%	259.87%	55.42%	80.87%

This table displays calculated financial ratios and metrics derived from MSA Safety's official financial filings.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	1.94%	0.88%	-3.14%	3.39%	3.78%	11.75%	17.04%	20.14%	20.43%	8.04%	12.20%
EBITDA Growth	-0.85%	13.03%	-2.07%	3.97%	344.44%	37.02%	43.74%	41.12%	-165.99%	226.40%	64.72%
EBIT Growth	-1.81%	14.04%	-2.85%	3.41%	253.48%	42.21%	50.23%	48.12%	-214.79%	188.99%	92.32%
NOPAT Growth	-3.48%	12.55%	-1.30%	4.93%	246.53%	49.45%	47.29%	57.34%	-225.85%	184.68%	114.22%
Net Income Growth	2.52%	15.10%	2.13%	7.67%	138.71%	48.40%	45.32%	40.67%	-522.52%	183.75%	112.02%
EPS Growth	2.72%	13.27%	2.42%	7.65%	138.38%	49.62%	44.74%	40.50%	-525.56%	183.97%	111.11%
Operating Cash Flow Growth	21.51%	-32.10%	-32.42%	-43.93%	117.80%	196.75%	95.20%	515.21%	-1,265.88%	-22.39%	38.28%
Free Cash Flow Firm Growth	-129.95%	221.75%	-207.05%	-202.44%	130.32%	32.30%	2,293.32%	576.07%	27.29%	92.50%	116.90%
Invested Capital Growth	5.48%	4.55%	0.00%	0.00%	-0.25%	7.42%	0.00%	0.00%	13.60%	6.57%	-0.64%
Revenue Q/Q Growth	-15.68%	15.49%	-6.44%	11.89%	0.00%	10.89%	-0.13%	12.31%	-10.15%	16.13%	2.52%
EBITDA Q/Q Growth	-28.30%	24.41%	-5.72%	17.89%	0.00%	7.79%	0.10%	377.16%	-145.82%	13.07%	-1.72%
EBIT Q/Q Growth	-31.71%	27.58%	-6.52%	20.55%	0.00%	8.69%	-0.49%	278.91%	-173.49%	14.82%	-1.89%
NOPAT Q/Q Growth	-32.87%	28.07%	-9.54%	24.11%	0.00%	12.32%	-3.84%	273.30%	-179.84%	10.69%	2.73%
Net Income Q/Q Growth	-32.23%	31.96%	-7.73%	24.24%	0.00%	17.09%	-2.73%	144.68%	-391.66%	14.66%	-5.84%
EPS Q/Q Growth	-31.98%	31.36%	-7.65%	24.49%	0.00%	18.79%	-2.94%	144.39%	-392.37%	14.91%	-5.79%
Operating Cash Flow Q/Q Growth	-42.70%	27.96%	58.22%	4.75%	0.00%	27.35%	31.26%	133.25%	-633.89%	-16.23%	313.69%
Free Cash Flow Firm Q/Q Growth	-181.95%	101.67%	-2.00%	-2,243.03%	0.00%	-101.47%	-2.39%	734.31%	-643.77%	-151.97%	119.42%
Invested Capital Q/Q Growth	2.34%	-0.60%	1.40%	2.25%	0.00%	0.00%	0.00%	-100.00%	9.25%	4.85%	-2.31%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	45.90%	46.91%	47.95%	48.23%	47.31%	48.08%	48.97%	47.80%	45.55%	44.50%	44.38%
EBITDA Margin	23.98%	28.20%	26.18%	25.98%	24.66%	25.17%	25.89%	25.83%	-10.47%	20.53%	21.08%
Operating Margin	18.46%	23.54%	21.14%	21.61%	19.38%	20.64%	21.07%	21.24%	-15.08%	15.93%	16.85%
EBIT Margin	20.12%	24.84%	22.49%	22.51%	20.89%	21.98%	22.42%	22.50%	-14.13%	17.27%	17.47%
Profit (Net Income) Margin	14.15%	17.60%	15.40%	15.62%	14.07%	15.43%	14.61%	15.00%	-37.71%	11.62%	11.76%
Tax Burden Percent	76.47%	75.29%	75.60%	76.50%	76.90%	76.96%	74.44%	76.69%	221.70%	74.57%	73.97%
Interest Burden Percent	91.94%	94.09%	90.59%	90.72%	87.56%	91.20%	87.52%	86.91%	120.40%	90.20%	91.06%
Effective Tax Rate	23.53%	24.71%	24.40%	23.50%	23.10%	23.04%	25.56%	23.31%	0.00%	25.43%	26.03%
Return on Invested Capital (ROIC)	17.29%	22.04%	38.55%	40.75%	18.60%	20.69%	0.00%	0.00%	-12.39%	14.15%	14.71%
ROIC Less NNEP Spread (ROIC-NNEP)	17.33%	21.88%	37.30%	38.84%	17.93%	20.15%	0.00%	0.00%	-34.24%	13.86%	14.10%
Return on Net Nonoperating Assets (RNNOA)	6.18%	8.28%	13.63%	16.58%	9.86%	9.12%	0.00%	0.00%	-19.59%	6.37%	7.33%
Return on Equity (ROE)	23.47%	30.32%	52.19%	57.33%	28.47%	29.80%	0.00%	0.00%	-31.98%	20.52%	22.04%
Cash Return on Invested Capital (CROIC)	14.48%	15.88%	-161.77%	-161.11%	19.86%	-2.38%	0.00%	0.00%	-13.22%	7.68%	5.85%
Operating Return on Assets (OROA)	16.57%	20.53%	18.10%	18.24%	17.24%	17.28%	0.00%	0.00%	-9.78%	11.06%	11.24%
Return on Assets (ROA)	11.65%	14.54%	12.39%	12.66%	11.61%	12.13%	0.00%	0.00%	-26.10%	7.44%	7.57%
Return on Common Equity (ROCE)	23.40%	30.21%	52.02%	57.13%	28.36%	29.69%	0.00%	0.00%	-31.85%	20.43%	21.95%
Return on Equity Simple (ROE_SIMPLE)	24.07%	0.00%	24.96%	26.32%	26.83%	0.00%	0.00%	0.00%	-0.70%	0.00%	7.91%
Net Operating Profit after Tax (NOPAT)	59	89	69	76	62	79	70	73	-42	53	48
NOPAT Margin	14.11%	17.73%	15.98%	16.53%	14.91%	15.89%	15.68%	16.29%	-10.56%	11.88%	12.46%
Net Nonoperating Expense Percent (NNEP)	-0.04%	0.16%	1.25%	1.91%	0.68%	0.53%	0.00%	0.00%	21.85%	0.29%	0.62%
Return On Investment Capital (ROIC_SIMPLE)	3.51%	5.36%	-	-	-	5.02%	-	-	-	3.52%	-
Cost of Revenue to Revenue	54.10%	53.09%	52.05%	51.77%	52.69%	51.92%	51.03%	52.20%	54.45%	55.50%	55.62%
SG&A Expenses to Revenue	22.30%	20.09%	21.98%	22.72%	22.78%	21.61%	22.87%	21.54%	22.87%	20.64%	21.68%
R&D to Revenue	3.72%	3.37%	3.86%	3.69%	3.85%	3.85%	3.96%	3.58%	3.82%	3.16%	3.78%
Operating Expenses to Revenue	27.44%	23.37%	26.80%	26.62%	27.93%	27.44%	27.90%	26.56%	60.63%	28.57%	27.53%
Earnings before Interest and Taxes (EBIT)	85	124	97	104	86	109	100	101	-56	77	67
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	101	141	113	120	102	125	116	116	-42	91	80
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	4.85	5.70	6.39	7.16	7.64	6.79	0.00	0.00	5.95	5.98	4.98
Price to Tangible Book Value (P/TBV)	18.25	23.85	34.11	49.43	71.93	94.05	0.00	0.00	0.00	311.02	0.00
Price to Revenue (P/Rev)	3.17	3.59	3.87	4.05	4.20	3.66	3.53	4.03	3.23	3.60	2.79
Price to Earnings (P/E)	20.10	22.80	25.52	27.09	28.36	111.68	182.02	506.12	0.00	30.64	62.63
Dividend Yield	1.39%	1.21%	1.11%	1.03%	0.98%	1.12%	1.19%	1.08%	1.40%	1.30%	1.69%
Earnings Yield	4.97%	4.39%	3.92%	3.69%	3.53%	0.90%	0.55%	0.20%	0.00%	3.26%	1.60%
Enterprise Value to Invested Capital (EV/IC)	4.00	4.60	4.94	5.30	5.56	4.92	0.00	0.00	3.96	4.46	3.64
Enterprise Value to Revenue (EV/Rev)	3.35	3.78	4.09	4.30	4.45	3.92	0.00	0.00	3.59	3.87	3.08
Enterprise Value to EBITDA (EV/EBITDA)	12.82	14.37	16.05	16.90	17.52	22.28	0.00	0.00	27.06	18.67	29.95
Enterprise Value to EBIT (EV/EBIT)	14.85	16.61	18.61	19.57	20.25	27.63	0.00	0.00	36.97	22.71	47.12
Enterprise Value to NOPAT (EV/NOPAT)	20.75	23.14	25.82	27.25	28.31	106.78	0.00	0.00	0.00	32.81	69.73
Enterprise Value to Operating Cash Flow (EV/OCF)	19.82	23.09	21.25	20.15	18.67	75.40	0.00	0.00	0.00	37.52	26.60
Enterprise Value to Free Cash Flow (EV/FCFF)	28.39	29.62	0.00	0.00	27.95	0.00	0.00	0.00	0.00	59.98	62.10
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.42	0.44	0.51	0.57	0.60	0.62	0.00	0.00	0.85	0.62	0.72
Long-Term Debt to Equity	0.39	0.42	0.48	0.54	0.57	0.59	0.00	0.00	0.82	0.61	0.71
Financial Leverage	0.36	0.38	0.37	0.43	0.55	0.45	0.00	0.00	0.57	0.46	0.52
Leverage Ratio	2.02	2.07	2.05	2.17	2.34	2.41	0.00	0.00	2.67	2.72	2.79
Compound Leverage Factor	1.86	1.95	1.85	1.97	2.05	2.19	0.00	0.00	3.21	2.45	2.54
Debt to Total Capital	29.67%	30.76%	33.62%	36.27%	37.47%	38.36%	0.00%	0.00%	46.07%	38.28%	41.79%
Short-Term Debt to Total Capital	1.94%	1.60%	1.63%	1.63%	1.66%	1.69%	0.00%	0.00%	1.63%	0.49%	0.47%
Long-Term Debt to Total Capital	27.73%	29.17%	31.99%	34.64%	35.81%	36.67%	0.00%	0.00%	44.44%	37.78%	41.31%
Preferred Equity to Total Capital	0.21%	0.22%	0.22%	0.22%	0.22%	0.23%	0.00%	0.00%	0.22%	0.24%	0.25%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	70.12%	69.02%	66.17%	63.51%	62.30%	61.41%	0.00%	0.00%	53.71%	61.49%	57.97%
Debt to EBITDA	1.06	1.07	1.21	1.27	1.30	1.92	0.00	0.00	3.51	1.81	3.94
Net Debt to EBITDA	0.70	0.72	0.87	0.95	0.98	1.45	0.00	0.00	2.73	1.26	2.74
Long-Term Debt to EBITDA	0.99	1.01	1.15	1.22	1.24	1.83	0.00	0.00	3.38	1.79	3.89
Debt to NOPAT	1.71	1.72	1.94	2.05	2.10	9.18	0.00	0.00	-112.10	3.18	9.17
Net Debt to NOPAT	1.13	1.16	1.40	1.54	1.58	6.94	0.00	0.00	-87.25	2.22	6.37
Long-Term Debt to NOPAT	1.60	1.63	1.85	1.96	2.01	8.77	0.00	0.00	-108.14	3.14	9.07
Altman Z-Score	5.40	5.81	5.68	5.66	5.83	5.24	0.00	0.00	3.95	3.97	3.26
Noncontrolling Interest Sharing Ratio	0.33%	0.34%	0.33%	0.35%	0.38%	0.38%	0.00%	0.00%	0.41%	0.41%	0.43%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.94	2.79	2.68	2.45	2.51	2.36	0.00	0.00	2.62	2.54	2.47
Quick Ratio	1.66	1.54	1.37	1.27	1.35	1.33	0.00	0.00	1.41	1.38	1.26
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-20	24	-1,427	-1,399	65	-20	1,333	1,365	-215	-29	56
Operating Cash Flow to CapEx	573.38%	748.89%	591.64%	371.68%	453.57%	1,348.44%	985.89%	958.35%	-3,402.87%	388.06%	714.43%
Free Cash Flow to Firm to Interest Expense	-2.86	3.25	-155.85	-144.72	6.08	-2.04	106.63	103.62	-18.75	-3.86	9.34
Operating Cash Flow to Interest Expense	9.05	14.72	9.21	5.52	4.74	16.58	9.98	7.22	-24.91	7.14	10.72
Operating Cash Flow Less CapEx to Interest Expense	7.47	12.75	7.66	4.03	3.69	15.35	8.97	6.46	-25.65	5.30	9.22
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.82	0.83	0.80	0.81	0.83	0.79	0.00	0.00	0.69	0.64	0.64
Accounts Receivable Turnover	6.33	6.30	6.50	6.08	6.28	6.04	0.00	0.00	5.92	5.54	6.38
Inventory Turnover	3.13	3.22	2.67	2.94	2.97	2.97	0.00	0.00	2.74	2.76	2.81
Fixed Asset Turnover	8.59	8.53	8.33	8.53	8.65	8.52	0.00	0.00	7.75	7.36	7.40
Accounts Payable Turnover	8.20	8.61	7.34	7.15	8.30	8.34	0.00	0.00	8.14	7.79	8.50
Days Sales Outstanding (DSO)	57.63	57.92	56.12	60.05	58.11	60.41	0.00	0.00	61.64	65.84	57.23
Days Inventory Outstanding (DIO)	116.65	113.50	136.66	124.29	122.71	123.08	0.00	0.00	133.44	132.25	130.12
Days Payable Outstanding (DPO)	44.51	42.37	49.74	51.04	43.98	43.78	0.00	0.00	44.84	46.86	42.92
Cash Conversion Cycle (CCC)	129.77	129.05	143.05	133.30	136.84	139.71	0.00	0.00	150.24	151.22	144.43
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,522	1,487	1,496	1,475	1,443	1,422	0.00	0.00	1,446	1,324	1,263
Invested Capital Turnover	1.23	1.24	2.41	2.46	1.25	1.30	0.00	0.00	1.17	1.19	1.18
Increase / (Decrease) in Invested Capital	79	65	1,496	1,475	-3.66	98	-1,263	-1,292	173	82	-8.11
Enterprise Value (EV)	6,093	6,843	7,383	7,816	8,019	7,001	0.00	0.00	5,728	5,908	4,599
Market Capitalization	5,758	6,496	6,979	7,371	7,568	6,542	6,127	6,738	5,147	5,504	4,175
Book Value per Share	$30.23	$28.99	$27.74	$26.16	$25.17	$24.50	$0.00	$0.00	$22.06	$23.47	$21.44
Tangible Book Value per Share	$8.04	$6.93	$5.20	$3.79	$2.67	$1.77	$0.00	$0.00	($0.60)	$0.45	($1.27)
Total Capital	1,692	1,651	1,650	1,622	1,591	1,568	0.00	0.00	1,611	1,497	1,447
Total Debt	502	508	555	588	596	602	0.00	0.00	742	573	605
Total Long-Term Debt	469	482	528	562	570	575	0.00	0.00	716	565	598
Net Debt	331	343	400	441	448	455	0.00	0.00	578	400	420
Capital Expenditures (CapEx)	11	14	14	14	11	12	13	9.92	8.40	14	8.95
Debt-free, Cash-free Net Working Capital (DFCFNWC)	405	377	401	389	355	334	0.00	0.00	388	369	335
Debt-free Net Working Capital (DFNWC)	576	541	555	536	503	480	0.00	0.00	553	542	520
Net Working Capital (NWC)	543	515	528	510	476	453	0.00	0.00	526	534	513
Net Nonoperating Expense (NNE)	-0.14	0.62	2.51	4.22	3.46	2.29	4.81	5.77	108	1.17	2.67
Net Nonoperating Obligations (NNO)	331	343	400	441	448	455	0.00	0.00	578	400	420
Total Depreciation and Amortization (D&A)	16	17	16	16	16	16	16	15	15	14	14
Debt-free, Cash-free Net Working Capital to Revenue	22.30%	20.84%	22.22%	21.42%	19.67%	18.66%	0.00%	0.00%	24.33%	24.14%	22.42%
Debt-free Net Working Capital to Revenue	31.69%	29.94%	30.77%	29.49%	27.90%	26.85%	0.00%	0.00%	34.64%	35.45%	34.77%
Net Working Capital to Revenue	29.88%	28.48%	29.28%	28.04%	26.43%	25.37%	0.00%	0.00%	32.99%	34.97%	34.31%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.51	$2.24	$1.69	$1.83	$1.48	$1.95	$0.00	$0.00	$0.00	$1.32	$1.15
Adjusted Weighted Average Basic Shares Outstanding	39.31M	39.25M	39.31M	39.35M	39.38M	39.32M	0.00	0.00	0.00	39.21M	39.20M
Adjusted Diluted Earnings per Share	$1.51	$2.22	$1.69	$1.83	$1.47	$1.96	$0.00	$0.00	$0.00	$1.31	$1.14
Adjusted Weighted Average Diluted Shares Outstanding	39.31M	39.25M	39.31M	39.35M	39.38M	39.32M	0.00	0.00	0.00	39.21M	39.20M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	39.31M	39.25M	39.31M	39.35M	39.38M	39.32M	0.00	0.00	0.00	39.21M	39.20M
Normalized Net Operating Profit after Tax (NOPAT)	61	89	70	78	64	80	73	75	50	56	48
Normalized NOPAT Margin	14.46%	17.82%	16.19%	16.79%	15.47%	16.12%	16.23%	16.86%	12.46%	12.69%	12.64%
Pre Tax Income Margin	18.50%	23.38%	20.37%	20.42%	18.29%	20.04%	19.62%	19.56%	-17.01%	15.58%	15.91%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	12.40	16.93	10.63	10.77	8.04	11.36	8.01	7.64	-4.90	10.20	11.18
NOPAT to Interest Expense	8.70	12.08	7.56	7.91	5.74	8.21	5.61	5.53	-3.66	7.02	7.98
EBIT Less CapEx to Interest Expense	10.83	14.97	9.07	9.29	7.00	10.13	7.00	6.89	-5.63	8.37	9.68
NOPAT Less CapEx to Interest Expense	7.12	10.11	6.00	6.43	4.69	6.98	4.59	4.78	-4.40	5.18	6.48
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	28.04%	27.64%	28.22%	27.78%	27.70%	125.44%	217.01%	545.45%	-1,187.35%	39.80%	106.07%
Augmented Payout Ratio	45.44%	40.74%	38.26%	34.00%	29.99%	132.20%	228.80%	591.34%	-1,753.03%	58.95%	157.67%

Frequently Asked Questions About MSA Safety's Financials

When does MSA Safety's financial year end?

According to the most recent income statement we have on file, MSA Safety's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has MSA Safety's net income changed over the last 9 years?

MSA Safety's net income appears to be on an upward trend, with a most recent value of $284.97 million in 2024, rising from $70.81 million in 2015. The previous period was $58.58 million in 2023. See where experts think MSA Safety is headed by visiting MSA Safety's forecast page.

What is MSA Safety's operating income?

MSA Safety's total operating income in 2024 was $389.18 million, based on the following breakdown:

Total Gross Profit: $860.45 million
Total Operating Expenses: $471.27 million

How has MSA Safety revenue changed over the last 9 years?

Over the last 9 years, MSA Safety's total revenue changed from $1.13 billion in 2015 to $1.81 billion in 2024, a change of 59.9%.

How much debt does MSA Safety have?

MSA Safety's total liabilities were at $1.06 billion at the end of 2024, a 11.7% decrease from 2023, and a 17.3% increase since 2015.

How much cash does MSA Safety have?

In the past 9 years, MSA Safety's cash and equivalents has ranged from $105.93 million in 2015 to $164.56 million in 2024, and is currently $164.56 million as of their latest financial filing in 2024.

How has MSA Safety's book value per share changed over the last 9 years?

Over the last 9 years, MSA Safety's book value per share changed from 13.74 in 2015 to 28.99 in 2024, a change of 111.1%.

Related Companies

This page (NYSE:MSA) was last updated on 5/30/2025 by MarketBeat.com Staff

From Our Partners

Get 30 Days of MarketBeat All Access for Free

Start Your 30-Day Trial

In-depth profiles and analysis for 20,000 public companies.
Real-time analyst ratings, insider transactions, earnings data, and more.
Our daily ratings and market update email newsletter.

Sign In
Create Account

Your Email Address:

Your Password:

Forgot your password?

Your Email Address:

Choose a Password:

By creating a free account, you agree to our terms of service. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

MSA Safety (MSA) Financials

Frequently Asked Questions About MSA Safety's Financials

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools

About MarketBeat

MarketBeat Products

Popular Tools

Financial Calendars

Terms & Info

MSA Safety (MSA) Financials

Annual Income Statements for MSA Safety

Quarterly Income Statements for MSA Safety

Annual Cash Flow Statements for MSA Safety

Quarterly Cash Flow Statements for MSA Safety

Annual Balance Sheets for MSA Safety

Quarterly Balance Sheets for MSA Safety

Annual Metrics And Ratios for MSA Safety

Quarterly Metrics And Ratios for MSA Safety

Frequently Asked Questions About MSA Safety's Financials

MarketBeat All Access Features

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools