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MSA Safety (MSA)



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Upturn Advisory Summary
08/28/2025: MSA (1-star) is currently NOT-A-BUY. Pass it for now.
1 Year Target Price $191.8
1 Year Target Price $191.8
3 | Strong Buy |
0 | Buy |
2 | Hold |
0 | Sell |
0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit 17.98% | Avg. Invested days 42 | Today’s Advisory PASS |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Mid-Cap Stock | Market Capitalization 6.77B USD | Price to earnings Ratio 24.69 | 1Y Target Price 191.8 |
Price to earnings Ratio 24.69 | 1Y Target Price 191.8 | ||
Volume (30-day avg) 5 | Beta 0.95 | 52 Weeks Range 127.04 - 185.07 | Updated Date 08/29/2025 |
52 Weeks Range 127.04 - 185.07 | Updated Date 08/29/2025 | ||
Dividends yield (FY) 1.19% | Basic EPS (TTM) 6.91 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 15.15% | Operating Margin (TTM) 21.71% |
Management Effectiveness
Return on Assets (TTM) 10.85% | Return on Equity (TTM) 24.23% |
Valuation
Trailing PE 24.69 | Forward PE - | Enterprise Value 7349593873 | Price to Sales(TTM) 3.7 |
Enterprise Value 7349593873 | Price to Sales(TTM) 3.7 | ||
Enterprise Value to Revenue 4.02 | Enterprise Value to EBITDA 15.83 | Shares Outstanding 39143200 | Shares Floating 36678763 |
Shares Outstanding 39143200 | Shares Floating 36678763 | ||
Percent Insiders 6.16 | Percent Institutions 96.33 |
Upturn AI SWOT
MSA Safety

Company Overview
History and Background
MSA Safety was founded in 1914 as Mine Safety Appliances, initially focused on providing safety equipment for coal miners. Over time, it expanded its product line and diversified into various industrial and commercial safety markets, becoming a global leader in safety solutions.
Core Business Areas
- Americas: Provides safety products and services primarily for North and South America, including gas detection, respiratory protection, fall protection, head protection, and thermal imaging.
- International: Supplies similar safety products and services to customers outside of the Americas, with a strong presence in Europe, the Middle East, and Asia-Pacific.
- MSA Connected Work: Focused on digitally connected safety solutions, including software and technology-enabled services, enhancing worker safety and productivity through real-time data and analytics.
Leadership and Structure
The leadership team consists of the CEO, CFO, and other executive officers responsible for different business segments and functional areas. The organizational structure is divisional, aligned with its geographic regions and product lines.
Top Products and Market Share
Key Offerings
- Fall Protection Equipment: Harnesses, lanyards, and other equipment prevent falls from heights in construction and other industries. Competitors include 3M and Honeywell. Estimated market share is 15-20%.
- Gas Detection Instruments: Portable and fixed gas detectors are used to monitor potentially dangerous gases. MSA competes with Honeywell, Dru00e4ger, and Industrial Scientific. Market Share is estimated at 20-25%.
- Industrial Head Protection: Hard hats and other head protection are vital safety gear in various industries. Key competitors are Honeywell and Bullard. Estimated Market Share is around 20%.
- Self-Contained Breathing Apparatus (SCBA): SCBAs are crucial for firefighters and industrial workers in hazardous environments. MSA is a market leader in SCBAs; global competitor is Scott Safety (part of Johnson Controls). Market share is around 45%.
Market Dynamics
Industry Overview
The safety equipment market is driven by increasing regulatory requirements, growing awareness of workplace safety, and technological advancements in safety solutions. The demand is influenced by industries like construction, oil & gas, mining, and fire service.
Positioning
MSA Safety is a leading player in the safety equipment market, known for its comprehensive product portfolio, strong brand reputation, and global reach. Its competitive advantages include innovation, quality, and a focus on connected safety solutions.
Total Addressable Market (TAM)
The global safety equipment market is estimated to be around $50 billion. MSA is positioned to capture a significant portion of this market through its diverse product offerings and established distribution channels.
Upturn SWOT Analysis
Strengths
- Strong brand reputation
- Diversified product portfolio
- Global distribution network
- Focus on innovation and technology
- Strong Financial perfomance
Weaknesses
- High dependence on regulatory compliance
- Sensitivity to economic cycles
- Product liability risks
- Relatively high R&D expense
- Fluctuations in revenue from different segments
Opportunities
- Growing demand for connected safety solutions
- Expansion into emerging markets
- Increasing automation and robotics in industry
- Stringent workplace safety regulations
- Development of new products and services
Threats
- Intense competition from established players
- Economic downturns affecting industrial activity
- Changing regulatory landscape
- Disruptive technologies
- Raw material price fluctuations
Competitors and Market Share
Key Competitors
- HON
- MMM
- JCI
Competitive Landscape
MSA Safety competes on product breadth, innovation, and customer service. It holds a strong position in SCBAs and gas detection, but faces competition from larger diversified companies in other segments. MSA Safety has a competitive advantage as a pure play safty company, while others such as 3M have a wider range of products and services.
Major Acquisitions
Bacharach
- Year: 2021
- Acquisition Price (USD millions): 337
- Strategic Rationale: Expanded MSA's gas detection capabilities and access to HVAC markets.
Growth Trajectory and Initiatives
Historical Growth: MSA Safety has experienced steady growth in revenue and earnings over the past decade, driven by organic growth and strategic acquisitions.
Future Projections: Analysts project continued growth for MSA Safety, supported by increasing demand for safety products and services and the company's strong market position.
Recent Initiatives: Recent initiatives include the expansion of its connected safety solutions portfolio, strategic acquisitions to strengthen its market presence, and investments in R&D to develop innovative products.
Summary
MSA Safety demonstrates strength in its market position and diversified product portfolio and the business is growing through acquisitions and organic innovation in Safety. A potential issue is economic cycles which might impact industrial activity and safety investments. The company has a strong financial profile, which is supported by consistent dividend payouts. Increasing demand for workplace saftey should allow continued growth.
Peer Comparison
Sources and Disclaimers
Data Sources:
- Company Filings (10-K, 10-Q)
- Investor Presentations
- Analyst Reports
- Industry Research Reports
Disclaimers:
The data and analysis provided are for informational purposes only and should not be considered financial advice. Actual results may vary.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About MSA Safety
Exchange NYSE | Headquaters Cranberry Township, PA, United States | ||
IPO Launch date 1990-03-26 | President, CEO & Director Mr. Steven C. Blanco Sr. | ||
Sector Industrials | Industry Security & Protection Services | Full time employees 5000 | Website https://www.msasafety.com |
Full time employees 5000 | Website https://www.msasafety.com |
MSA Safety Incorporated develops, manufactures, and supplies safety products and technology solutions that protect people and facility infrastructures worldwide. The company offers breathing apparatus products, including self-contained breathing apparatus; firefighter helmets and protective apparel; and fixed gas and flame detection systems, such as fixed gas detection monitoring systems, flame detectors and open-path infrared gas detectors, and refrigerant detection and identification solution, as well as hand-held portable gas detection instruments to detect the presence or absence of various gases in the air. It also provides industrial head protection products; and fall protection equipment, such as confined space equipment, harnesses, lanyards, and self-retracting lifelines, as well as engineered systems. In addition, the company offers air-purifying respirators, eye and face protection products, ballistic helmets, and gas masks. It serves fire service, energy, utility, construction, and industrial manufacturing applications, as well as heating, ventilation, air conditioning, and refrigeration industries through distributors and end-users through indirect and direct sales channels. The company offers its products under the V-Gard, Cairns, and Gallet brand names. MSA Safety Incorporated was founded in 1914 and is based in Cranberry Township, Pennsylvania.

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