MSA Safety Incorporated

NYSE:MSA Stock Report

Market Cap: US$6.7b

MSA Safety Future Growth

Future criteria checks 1/6

MSA Safety is forecast to grow earnings and revenue by 11.1% and 5.2% per annum respectively while EPS is expected to grow by 11.1% per annum.

Key information

11.1%

Earnings growth rate

11.14%

EPS growth rate

Commercial Services earnings growth13.5%
Revenue growth rate5.2%
Future return on equityn/a
Analyst coverage

Good

Last updated10 May 2026

Recent future growth updates

Recent updates

Narrative Update • May 12

MSA: NFPA Recovery And Capital Returns Will Support Future Compounding

MSA Safety's updated analyst price target has edged down by about $2 to $205.71, as analysts factor in a slightly higher discount rate alongside modest adjustments to long term growth and profitability assumptions, including a lower future P/E multiple. Analyst Commentary Recent research on MSA Safety has shifted from earlier target increases following Q4 results to a series of target trims and more cautious stances, reflecting updated views on valuation, growth visibility and execution risk.
Narrative Update • Apr 28

MSA: NFPA Recovery And Recurring Revenue Will Support Future Compounding

Analyst price targets on MSA Safety have been adjusted by a net $10 swing, with recent research citing steady mid single digit organic growth expectations, easing NFPA related headwinds and a view of the business as a high quality compounder with increasing recurring revenue, while other firms maintain more neutral stances after updating models post Q4 results. Analyst Commentary Recent research on MSA Safety clusters around how well the company can execute on its organic growth outlook, how sticky its revenue base can become, and whether the current valuation already reflects these qualities.
Seeking Alpha • Apr 21

MSA Safety: Q1 2026 Earnings And A Dividend Increase Likely Coming

Summary MSA Safety demonstrates resilient revenue growth, robust margins, and improving return on invested capital, supporting its high-quality business profile. MSA's dividend yield stands at 1.22%, with a consistent growth track record and a conservative payout ratio near 25%, enabling continued shareholder rewards. Recent earnings highlight Q4 non-GAAP EPS of $2.38, beating consensus, with revenue of $511M and modest year-over-year growth in key segments. My FCF valuation model suggests MSA is trading for a discount at this time. Read the full article on Seeking Alpha
Narrative Update • Apr 13

MSA: NFPA Recovery And Recurring Revenue Will Drive Future Upside

Analysts have trimmed the MSA Safety price target by about $4 to reflect slightly higher discount rates and a modestly lower future P/E assumption, even as their revenue growth outlook edges a bit higher following recent research updates from firms covering the stock. Analyst Commentary Recent Street research on MSA Safety shows a mix of optimism on the business outlook and more cautious adjustments to valuation and rating, giving you a balanced set of signals to consider.
Narrative Update • Mar 28

MSA: NFPA Recovery And Recurring Revenue Will Support Future Upside

Analysts have lifted their average MSA Safety price targets into a $205 to $235 range, citing Q4 earnings, a return to mid single digit organic growth as NFPA related issues fade, and the company's positioning as a wide moat business with rising recurring revenue. Analyst Commentary Recent Street research around MSA Safety has focused on how the Q4 earnings print, the outlook for organic growth and the mix of recurring revenue stack up against current valuation after the latest round of price target revisions into the $205 to $235 range.
Narrative Update • Mar 14

MSA: Recurring Revenue And NFPA Recovery Will Shape Future Returns

Analysts have raised their price targets on MSA Safety into a higher $200 to $235 range, reflecting updated models after Q4 results and expectations for mid single digit organic growth as NFPA related headwinds ease and recurring revenue strengthens. Analyst Commentary Recent research updates cluster around higher valuation ranges for MSA Safety after Q4 results, with different firms adjusting their models to reflect refreshed assumptions on growth, recurring revenue and fire related headwinds tied to NFPA standards.
Narrative Update • Feb 28

MSA: Mid Single Digit Outlook And Recurring Revenue Will Shape Future Returns

Analysts have raised their blended price target for MSA Safety from about $198 to roughly $212, citing recent Q4 results, refreshed models, and expectations for mid single digit organic growth as NFPA related headwinds ease and recurring revenue increases. Analyst Commentary Recent Street research on MSA Safety clusters around Q4 results, the updated outlook for organic growth, and the role of recurring revenue in supporting valuation.
Narrative Update • Feb 14

MSA: Neutral Research And Modest Assumption Shifts Will Shape Returns

Analysts have raised their average price target on MSA Safety by about $11, reflecting updated views on fair value, growth, margins, and future P/E following recent research. This includes a higher target and a new neutral initiation.
Analysis Article • Dec 28

Is MSA Safety Incorporated (NYSE:MSA) Trading At A 21% Discount?

Key Insights The projected fair value for MSA Safety is US$209 based on 2 Stage Free Cash Flow to Equity MSA Safety's...
Narrative Update • Nov 04

MSA: Backlog Conversion And Acquisitions Will Drive Upside Amid Margin Caution

Analysts have slightly lowered their fair value estimate for MSA Safety to $187.40, down from $191.80. They cite recent results that were above expectations due to backlog conversion and acquisitions.
Analysis Article • Oct 07

MSA Safety Incorporated's (NYSE:MSA) Shareholders Might Be Looking For Exit

When close to half the companies in the United States have price-to-earnings ratios (or "P/E's") below 19x, you may...
Narrative Update • Sep 05

Connected Safety And European Expansion Will Strengthen Future Position

Analysts note that MSA Safety's Q2 outperformance and contributions from the M&C TechGroup acquisition support constructive fundamentals, but maintain a cautious outlook pending more clarity on catalysts like the SCBA replacement cycle, resulting in an unchanged consensus price target of $191.80. Analyst Commentary Q2 results exceeded expectations, driven by stronger backlog conversion.
Analysis Article • Jul 27

MSA Safety (NYSE:MSA) Seems To Use Debt Quite Sensibly

Warren Buffett famously said, 'Volatility is far from synonymous with risk.' It's only natural to consider a company's...
Analysis Article • Jul 15

Estimating The Intrinsic Value Of MSA Safety Incorporated (NYSE:MSA)

Key Insights MSA Safety's estimated fair value is US$195 based on 2 Stage Free Cash Flow to Equity With US$173 share...
Analysis Article • Jun 21

Is It Time To Consider Buying MSA Safety Incorporated (NYSE:MSA)?

MSA Safety Incorporated ( NYSE:MSA ), might not be a large cap stock, but it led the NYSE gainers with a relatively...
Analysis Article • May 28

MSA Safety Incorporated's (NYSE:MSA) Shares May Have Run Too Fast Too Soon

When close to half the companies in the United States have price-to-earnings ratios (or "P/E's") below 17x, you may...
Seeking Alpha • Mar 18

MSA Safety: A Premium Safety Business Looks To Get More Safe Itself

Summary MSA Safety's shares have fallen to 2020 levels, trading at 20 times earnings, despite a strong long-term outlook and impeccable dividend track record. The company generates $1.8 billion in sales from safety products, with a significant presence in the Americas and strong positions in niche segments. Despite a mixed performance in late 2024, MSA Safety's balance sheet remains strong, with reduced net debt and potential for stock buybacks or acquisitions. Given the current valuation and diminished organic growth, I recommend buying MSA Safety shares at $130-$140 for a safer investment. Read the full article on Seeking Alpha
Seeking Alpha • Sep 30

MSA Safety: The Safe Move Here Is A Downgrade

Summary MSA Safety's stock is downgraded from 'hold' to 'sell' due to a relatively high valuation and limited future growth compared to similar firms. Despite impressive revenue growth, profitability metrics have been volatile, and future growth projections don't justify the current premium valuation. MSA Safety's market segments, including Fire Service, Detection, and Industrial PPE, show room for expansion but not enough to meet broader market returns. Management's forecast suggests only 3.7% to 4.2% annualized upside, significantly lower than the typical 11% to 12% market growth. Read the full article on Seeking Alpha
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New Narrative • Aug 28

Innovative Safety Gear And Critical Shifts Poised To Boost Revenue And Appeal To Responsible Investors

Strategic optimizations and overcoming supply chain issues signal operational efficiency, poised to enhance revenue growth and customer satisfaction.

Earnings and Revenue Growth Forecasts

NYSE:MSA - Analysts future estimates and past financials data (USD Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
12/31/20282,1953974034692
12/31/20272,1183593964617
12/31/20262,0033273223747
3/31/20261,917291309378N/A
12/31/20251,875279295364N/A
9/30/20251,864280283349N/A
6/30/20251,828277253321N/A
3/31/20251,816286254307N/A
12/31/20241,808285242296N/A
9/30/20241,804273296347N/A
6/30/20241,818272338388N/A
3/31/20241,803267384430N/A
12/31/20231,788595093N/A
9/30/20231,73634-57-13N/A
6/30/20231,67113-114-73N/A
3/31/20231,596-6-196-153N/A
12/31/20221,528180115157N/A
9/30/20221,49567131173N/A
6/30/20221,45343112155N/A
3/31/20221,42220136178N/A
12/31/20211,40021155199N/A
9/30/20211,37899179227N/A
6/30/20211,342106158207N/A
3/31/20211,316117187239N/A
12/31/20201,348124158207N/A
9/30/20201,335139141187N/A
6/30/20201,382153168210N/A
3/31/20201,417157139177N/A
12/31/20191,402138N/A165N/A
9/30/20191,389130N/A166N/A
6/30/20191,369121N/A236N/A
3/31/20191,358115N/A248N/A
12/31/20181,358124N/A264N/A
9/30/20181,34266N/A227N/A
6/30/20181,30764N/A149N/A
3/31/20181,25744N/A151N/A
12/31/20171,19726N/A230N/A
9/30/20171,14784N/A293N/A
6/30/20171,12978N/A269N/A
3/31/20171,13694N/A242N/A
12/31/20161,15092N/A135N/A
9/30/20161,16788N/A77N/A
6/30/20161,16278N/A60N/A
3/31/20161,15373N/A61N/A
12/31/20151,13169N/A55N/A
9/30/20151,12981N/A66N/A
6/30/20151,13084N/A99N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: MSA's forecast earnings growth (11.1% per year) is above the savings rate (3.5%).

Earnings vs Market: MSA's earnings (11.1% per year) are forecast to grow slower than the US market (16.7% per year).

High Growth Earnings: MSA's earnings are forecast to grow, but not significantly.

Revenue vs Market: MSA's revenue (5.2% per year) is forecast to grow slower than the US market (11.7% per year).

High Growth Revenue: MSA's revenue (5.2% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: Insufficient data to determine if MSA's Return on Equity is forecast to be high in 3 years time

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/05/15 10:53
End of Day Share Price 2026/05/15 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

MSA Safety Incorporated is covered by 14 analysts. 7 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Robert MasonBaird
Quinn FredricksonBaird
Rudolf HokansonBarrington Research Associates, Inc.