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MSA Safety

DB:M07
Snowflake Description

Reasonable growth potential with proven track record and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
M07
DB
$4B
Market Cap
  1. Home
  2. DE
  3. Commercial Services
Company description

MSA Safety Incorporated develops, manufactures, and supplies safety products that protect people and facility infrastructures in the oil, gas, petrochemical, fire service, construction, utilities, and mining industries worldwide. The last earnings update was 55 days ago. More info.


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M07 Share Price and Events
7 Day Returns
2%
DB:M07
3.7%
DE Commercial Services
2.5%
DE Market
1 Year Returns
33.1%
DB:M07
-8.4%
DE Commercial Services
-6.7%
DE Market
M07 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
MSA Safety (M07) 2% 4.5% 9.1% 33.1% 118.6% 137.8%
DE Commercial Services 3.7% 1.2% 12.5% -8.4% 3.6% -42.7%
DE Market 2.5% 3.3% 9.2% -6.7% 9% 13.5%
1 Year Return vs Industry and Market
  • M07 outperformed the Commercial Services industry which returned -8.4% over the past year.
  • M07 outperformed the Market in Germany which returned -6.7% over the past year.
Price Volatility
M07
Industry
5yr Volatility vs Market
Related Companies

Value

 Is MSA Safety undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of MSA Safety to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for MSA Safety.

DB:M07 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 4 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 5.3%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:M07
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Commercial Services Unlevered Beta Simply Wall St/ S&P Global 0.73
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.735 (1 + (1- 21%) (8.86%))
0.857
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.86
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (0.857 * 5.96%)
5.33%

Discounted Cash Flow Calculation for DB:M07 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for MSA Safety is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

DB:M07 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 5.33%)
2019 96.92 Analyst x1 92.01
2020 189.21 Analyst x1 170.54
2021 176.23 Est @ -6.86% 150.79
2022 167.88 Est @ -4.74% 136.38
2023 162.43 Est @ -3.25% 125.27
2024 158.85 Est @ -2.2% 116.30
2025 156.51 Est @ -1.47% 108.79
2026 155.00 Est @ -0.96% 102.28
2027 154.06 Est @ -0.61% 96.52
2028 153.51 Est @ -0.36% 91.30
Present value of next 10 years cash flows $1,190.18
DB:M07 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $153.51 × (1 + 0.23%) ÷ (5.33% – 0.23%)
$3,013.80
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $3,013.80 ÷ (1 + 5.33%)10
$1,792.50
DB:M07 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $1,190.18 + $1,792.50
$2,982.68
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $2,982.68 / 38.53
$77.41
DB:M07 Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:M07 represents 0.89511x of NYSE:MSA
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.89511x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 77.41 x 0.89511
€69.29
Value per share (EUR) From above. €69.29
Current discount Discount to share price of €94.73
= -1 x (€94.73 - €69.29) / €69.29
-36.7%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of MSA Safety is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for MSA Safety's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are MSA Safety's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:M07 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $3.23
NYSE:MSA Share Price ** NYSE (2019-04-18) in USD $105.83
Europe Commercial Services Industry PE Ratio Median Figure of 105 Publicly-Listed Commercial Services Companies 16.91x
Germany Market PE Ratio Median Figure of 421 Publicly-Listed Companies 19.69x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of MSA Safety.

DB:M07 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:MSA Share Price ÷ EPS (both in USD)

= 105.83 ÷ 3.23

32.74x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • MSA Safety is overvalued based on earnings compared to the Europe Commercial Services industry average.
  • MSA Safety is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does MSA Safety's expected growth come at a high price?
Raw Data
DB:M07 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 32.74x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts
19.8%per year
Europe Commercial Services Industry PEG Ratio Median Figure of 54 Publicly-Listed Commercial Services Companies 1.33x
Germany Market PEG Ratio Median Figure of 270 Publicly-Listed Companies 1.58x

*Line of best fit is calculated by linear regression .

DB:M07 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 32.74x ÷ 19.8%

1.65x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • MSA Safety is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on MSA Safety's assets?
Raw Data
DB:M07 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $16.36
NYSE:MSA Share Price * NYSE (2019-04-18) in USD $105.83
Germany Commercial Services Industry PB Ratio Median Figure of 8 Publicly-Listed Commercial Services Companies 2.04x
Germany Market PB Ratio Median Figure of 570 Publicly-Listed Companies 1.87x
DB:M07 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:MSA Share Price ÷ Book Value per Share (both in USD)

= 105.83 ÷ 16.36

6.47x

* Primary Listing of MSA Safety.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • MSA Safety is overvalued based on assets compared to the DE Commercial Services industry average.
X
Value checks
We assess MSA Safety's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Commercial Services industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Commercial Services industry average (and greater than 0)? (1 check)
  5. MSA Safety has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is MSA Safety expected to perform in the next 1 to 3 years based on estimates from 4 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
19.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is MSA Safety expected to grow at an attractive rate?
  • MSA Safety's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • MSA Safety's earnings growth is expected to exceed the Germany market average.
  • MSA Safety's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:M07 Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:M07 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts 19.8%
DB:M07 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts 4.9%
Germany Commercial Services Industry Earnings Growth Rate Market Cap Weighted Average 31.4%
Germany Commercial Services Industry Revenue Growth Rate Market Cap Weighted Average 3.6%
Germany Market Earnings Growth Rate Market Cap Weighted Average 11.7%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.8%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:M07 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:M07 Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 1,498 199 192 4
2019-12-31 1,428 121 177 4
DB:M07 Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 1,358 264 124
2018-09-30 1,342 227 66
2018-06-30 1,307 149 64
2018-03-31 1,257 151 44
2017-12-31 1,197 230 26
2017-09-30 1,147 293 84
2017-06-30 1,129 269 78
2017-03-31 1,136 242 94
2016-12-31 1,150 135 92
2016-09-30 1,167 77 88
2016-06-30 1,162 60 78
2016-03-31 1,153 61 73

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • MSA Safety's earnings are expected to grow by 19.8% yearly, however this is not considered high growth (20% yearly).
  • MSA Safety's revenue is expected to grow by 4.9% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:M07 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below

All data from MSA Safety Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:M07 Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 4.90 5.21 4.63 3.00
2019-12-31 4.51 4.77 4.13 3.00
DB:M07 Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 3.23
2018-09-30 1.73
2018-06-30 1.69
2018-03-31 1.15
2017-12-31 0.68
2017-09-30 2.22
2017-06-30 2.05
2017-03-31 2.49
2016-12-31 2.46
2016-09-30 2.34
2016-06-30 2.08
2016-03-31 1.95

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • MSA Safety is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess MSA Safety's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
MSA Safety has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has MSA Safety performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare MSA Safety's growth in the last year to its industry (Commercial Services).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • MSA Safety's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • MSA Safety's 1-year earnings growth exceeds its 5-year average (378.3% vs -2.4%)
  • MSA Safety's earnings growth has exceeded the Europe Commercial Services industry average in the past year (378.3% vs 16%).
Earnings and Revenue History
MSA Safety's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from MSA Safety Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:M07 Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 1,358.10 123.99 319.72 52.70
2018-09-30 1,342.46 66.15 309.74 54.53
2018-06-30 1,307.49 64.49 301.42 53.59
2018-03-31 1,256.94 43.87 292.61 51.61
2017-12-31 1,196.81 25.92 286.39 50.06
2017-09-30 1,146.70 84.08 290.42 47.51
2017-06-30 1,128.80 77.51 295.04 48.27
2017-03-31 1,136.03 93.53 299.90 47.48
2016-12-31 1,149.53 92.00 302.22 46.85
2016-09-30 1,166.82 87.53 303.94 46.82
2016-06-30 1,162.33 77.55 303.73 46.24
2016-03-31 1,153.34 72.76 305.60 48.08
2015-12-31 1,130.78 69.25 307.77 48.63
2015-09-30 1,128.65 81.07 309.10 48.07
2015-06-30 1,130.07 84.02 313.68 48.96
2015-03-31 1,125.55 82.16 318.92 47.92
2014-12-31 1,133.89 86.14 322.80 48.25
2014-09-30 1,114.13 78.22 322.49 48.18
2014-06-30 1,103.85 78.51 316.58 47.06
2014-03-31 1,107.22 79.54 312.84 46.52
2013-12-31 1,112.06 84.48 309.21 45.86
2013-09-30 1,056.28 75.36 308.36 45.47
2013-06-30 1,077.97 75.70 318.58 43.25
2013-03-31 1,086.84 80.51 317.40 42.19
2012-12-31 1,110.44 85.91 312.86 40.90
2012-09-30 1,178.54 87.21 315.58 39.31
2012-06-30 1,190.22 87.91 312.59 38.90

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • MSA Safety has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • MSA Safety used its assets more efficiently than the Europe Commercial Services industry average last year based on Return on Assets.
  • MSA Safety has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess MSA Safety's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Commercial Services industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
MSA Safety has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is MSA Safety's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up MSA Safety's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • MSA Safety is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • MSA Safety's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of MSA Safety's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 1.8x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from MSA Safety Company Filings, last reported 3 months ago.

DB:M07 Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 639.52 361.37 195.20
2018-09-30 659.71 390.20 175.16
2018-06-30 639.07 430.61 116.65
2018-03-31 641.19 468.21 124.88
2017-12-31 602.58 474.51 134.24
2017-09-30 621.21 472.38 112.19
2017-06-30 601.60 269.51 115.36
2017-03-31 578.28 295.42 104.43
2016-12-31 561.21 390.50 113.76
2016-09-30 566.93 471.34 106.03
2016-06-30 552.40 453.91 103.15
2016-03-31 540.64 478.30 111.90
2015-12-31 517.13 464.67 105.93
2015-09-30 524.90 394.81 189.34
2015-06-30 532.56 269.67 88.13
2015-03-31 519.25 273.21 86.30
2014-12-31 538.63 251.70 106.00
2014-09-30 589.66 277.34 97.36
2014-06-30 598.10 288.35 96.18
2014-03-31 580.89 283.46 102.21
2013-12-31 572.35 268.17 96.27
2013-09-30 508.26 289.45 96.01
2013-06-30 490.27 300.35 82.41
2013-03-31 480.72 286.32 76.79
2012-12-31 470.70 279.16 82.72
2012-09-30 490.62 304.73 74.46
2012-06-30 475.37 302.56 65.06
  • MSA Safety's level of debt (56.5%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (46.9% vs 56.5% today).
  • Debt is well covered by operating cash flow (73%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 16.8x coverage).
X
Financial health checks
We assess MSA Safety's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. MSA Safety has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is MSA Safety's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1.44%
Current annual income from MSA Safety dividends. Estimated to be 1.44% next year.
If you bought €2,000 of MSA Safety shares you are expected to receive €29 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • MSA Safety's pays a lower dividend yield than the bottom 25% of dividend payers in Germany (1.44%).
  • MSA Safety's dividend is below the markets top 25% of dividend payers in Germany (3.74%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:M07 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
Germany Commercial Services Industry Average Dividend Yield Market Cap Weighted Average of 7 Stocks 3.3%
Germany Market Average Dividend Yield Market Cap Weighted Average of 324 Stocks 3%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.9%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
Germany Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:M07 Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2020-12-31 1.52 1.00
2019-12-31 1.52 1.00
DB:M07 Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-01-15 1.520 1.486
2018-11-01 1.520 1.499
2018-08-03 1.520 1.496
2018-05-07 1.520 1.597
2018-01-09 1.400 1.708
2017-10-25 1.400 1.754
2017-08-01 1.400 1.884
2017-05-12 1.400 1.742
2017-01-10 1.320 1.861
2016-10-27 1.320 2.064
2016-08-02 1.320 2.337
2016-05-09 1.320 2.539
2016-01-12 1.280 2.865
2015-11-10 1.280 2.917
2015-08-04 1.280 2.900
2015-05-12 1.280 2.674
2015-01-21 1.240 2.567
2014-11-05 1.240 2.356
2014-08-05 1.240 2.356
2014-05-06 1.240 2.237
2014-01-14 1.200 2.252
2013-10-30 1.200 2.424
2013-08-06 1.200 2.355
2013-05-07 1.200 2.447
2013-01-15 1.120 2.342
2012-11-01 1.120 2.816
2012-08-02 1.120 3.070
2012-05-08 1.120 2.847
2012-01-17 1.040 2.717
2011-11-03 1.040 3.111
2011-08-04 1.040 3.594
2011-05-11 1.040 2.925
2011-01-14 1.000 2.896
2010-11-05 1.000 3.289
2010-08-04 1.000 3.955
2010-05-11 1.000 3.884
2010-01-15 0.960 3.614
2009-11-04 0.960 3.663
2009-08-04 0.960 3.552
2009-05-12 0.960 4.036
2009-04-20 0.960 4.042

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of MSA Safety's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.4x coverage).
X
Income/ dividend checks
We assess MSA Safety's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can MSA Safety afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. MSA Safety has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of MSA Safety's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Nish Vartanian
COMPENSATION $2,658,326
AGE 58
TENURE AS CEO 0.9 years
CEO Bio

Mr. Nishan J. Vartanian, also known as Nish, has been the President at MSA Safety Incorporated since June 4, 2017 and its Chief Executive Officer since May 15, 2018 and served as its Senior Vice President and President of MSA Americas Segment since May 2015. Mr. Vartanian serves as Senior Vice President and President of MSA Americas Segment at MSA Nederland B.V. He was the Chief Operating Officer of MSA Safety Incorporated from June 4, 2017 to May 15, 2018. He served as President of MSA North America at MSA Safety Incorporated from August 2013 to May 2015 and served as its Vice President until May 2015 and Vice President of Fixed Gas and Flame Detection since December 2012. He joined MSA in 1985. He was appointed to MSA's Executive Leadership Team in 2011. He served as the Chief Operating Officer of General Monitors since 2011. He has served in various roles of increasing responsibility within MSA North America. He began his career as a sales representative in Atlanta, Ga. He served as U.S. National Sales Manager since 2005 and was Director of North America Commercial Sales and Distribution. He has been a Director of MSA Safety Inc. since December 14, 2017. Mr. Vartanian received a Bachelor's degree in Management from the University of Massachusetts in 1983.

CEO Compensation
  • Nish's compensation has increased by more than 20% in the past year.
  • Nish's remuneration is about average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the MSA Safety management team in years:

3
Average Tenure
54.5
Average Age
  • The tenure for the MSA Safety management team is about average.
Management Team

Nish Vartanian

TITLE
President
COMPENSATION
$3M
AGE
58
TENURE
0.9 yrs

Ken Krause

TITLE
Senior VP
COMPENSATION
$1M
AGE
42
TENURE
3.3 yrs

Douglas McClaine

TITLE
Senior VP
COMPENSATION
$1M
AGE
60
TENURE
3 yrs

Markus Weber

TITLE
Chief Information Officer & VP
AGE
53
TENURE
9 yrs

Elyse Lorenzato

TITLE
Director of Investor Relations

Mark Deasy

TITLE
Director of Public Relations & Strategic Communications

Paul Uhler

TITLE
Chief Human Resource Officer & Senior VP
AGE
59
TENURE
3.1 yrs

Roberta Herman

TITLE
Chief Customer Officer & VP of Global Operational Excellence
AGE
56
TENURE
3.5 yrs

Steve Blanco

TITLE
VP & President of Americas
AGE
51
TENURE
1.7 yrs

Bob Leenen

TITLE
VP & President of MSA International
AGE
44
TENURE
1.5 yrs
Board of Directors Tenure

Average tenure and age of the MSA Safety board of directors in years:

5.5
Average Tenure
60
Average Age
  • The tenure for the MSA Safety board of directors is about average.
Board of Directors

Bill Lambert

TITLE
Non-Executive Chairman
COMPENSATION
$5M
AGE
60
TENURE
3.9 yrs

Nish Vartanian

TITLE
President
COMPENSATION
$3M
AGE
58
TENURE
1.3 yrs

Ed Shaw

TITLE
Director
COMPENSATION
$211K
AGE
73
TENURE
21.3 yrs

Diane Pearse

TITLE
Director
COMPENSATION
$200K
AGE
60
TENURE
15.3 yrs

Alvaro Garcia-Tunon

TITLE
Director
COMPENSATION
$210K
AGE
66
TENURE
6.3 yrs

Becky Roberts

TITLE
Director
COMPENSATION
$203K
AGE
65
TENURE
5.5 yrs

Bob Bruggeworth

TITLE
Lead Independent Director
COMPENSATION
$218K
AGE
57

John Ryan

TITLE
Director
COMPENSATION
$198K
AGE
74
TENURE
10.8 yrs

Tom Giacomini

TITLE
Director
COMPENSATION
$153K
AGE
52
TENURE
1.8 yrs

Sandra Rogers

TITLE
Director
COMPENSATION
$74K
AGE
52
TENURE
1.5 yrs
Who owns this company?
Recent Insider Trading
  • MSA Safety insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
14. Mar 19 Sell William Lambert Individual 13. Mar 19 13. Mar 19 -24,592 €92.02 €-2,251,462
28. Feb 19 Sell L. Shaw Individual 26. Feb 19 27. Feb 19 -50,000 €91.82 €-4,573,384
03. Dec 18 Sell William Lambert Individual 28. Nov 18 28. Nov 18 -10,137 €93.92 €-952,041
28. Nov 18 Sell William Lambert Individual 26. Nov 18 26. Nov 18 -9,863 €93.90 €-926,181
19. Nov 18 Sell Steven Blanco Individual 16. Nov 18 16. Nov 18 -1,766 €95.38 €-168,442
06. Nov 18 Sell Kenneth Krause Individual 06. Nov 18 06. Nov 18 -1,572 €93.75 €-147,380
01. Nov 18 Sell Douglas McClaine Individual 30. Oct 18 30. Oct 18 -2,387 €93.83 €-223,966
05. Jun 18 Sell Randall Killeen Individual 05. Jun 18 05. Jun 18 -1,700 €81.97 €-139,355
23. May 18 Sell Douglas McClaine Individual 21. May 18 21. May 18 -5,363 €78.26 €-419,696
22. May 18 Sell Steven Blanco Individual 22. May 18 22. May 18 -1,700 €76.70 €-130,387
22. May 18 Sell Kenneth Krause Individual 21. May 18 21. May 18 -1,250 €78.24 €-97,796
X
Management checks
We assess MSA Safety's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. MSA Safety has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

MSA Safety Incorporated develops, manufactures, and supplies safety products that protect people and facility infrastructures in the oil, gas, petrochemical, fire service, construction, utilities, and mining industries worldwide. It operates through Americas and International segments. The company’s core product offerings include permanently installed fixed gas and flame detection instruments, such as permanently installed gas detection monitoring systems, and flame detectors and open-path infrared gas detectors, as well as replacement components and related services to detect the presence or absence of various gases in the air. Its core product offerings also consist of breathing apparatus products, such as self-contained breathing apparatus, face masks, and respirators; hand-held portable gas detection instruments; industrial head protection products; firefighter helmets and protective apparel; and fall protection equipment comprising confined space equipment, harnesses, lanyards, and lifelines. In addition, the company offers respirators, eye and face protection products, ballistic helmets, and gas masks. It serves distributors, and industrial or military end-users through indirect and direct sales channels. The company was founded in 1914 and is based in Cranberry Township, Pennsylvania.

Details
Name: MSA Safety Incorporated
M07
Exchange: DB
Founded: 1914
$3,626,392,211
38,529,585
Website: http://www.msasafety.com
Address: MSA Safety Incorporated
1000 Cranberry Woods Drive,
Cranberry Township,
Pennsylvania, 16066,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE MSA Common Stock New York Stock Exchange US USD 14. Dec 1972
DB M07 Common Stock Deutsche Boerse AG DE EUR 14. Dec 1972
Number of employees
Current staff
Staff numbers
4,800
MSA Safety employees.
Industry
Office Services and Supplies
Commercial Services
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/18 21:44
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/04/12
Last earnings filing: 2019/02/22
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.