NYSE:MSA

Stock Analysis Report

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Executive Summary

MSA Safety Incorporated develops, manufactures, and supplies safety products that protect people and facility infrastructures in the oil, gas, petrochemical, fire service, construction, industrial manufacturing applications, utilities, and mining industries in North America, Latin America, and internationally. More Details


Snowflake Analysis

Outstanding track record with excellent balance sheet.


Similar Companies

Share Price & News

How has MSA Safety's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: MSA has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-0.6%

MSA

-2.0%

US Commercial Services

-2.4%

US Market


1 Year Return

26.2%

MSA

7.2%

US Commercial Services

18.2%

US Market

Return vs Industry: MSA exceeded the US Commercial Services industry which returned 8.7% over the past year.

Return vs Market: MSA exceeded the US Market which returned 19.5% over the past year.


Shareholder returns

MSAIndustryMarket
7 Day-0.6%-2.0%-2.4%
30 Day6.8%2.8%4.2%
90 Day26.0%11.2%6.3%
1 Year27.9%26.2%8.8%7.2%20.9%18.2%
3 Year84.4%76.1%50.0%40.4%41.2%31.8%
5 Year288.7%253.6%110.5%89.0%84.8%63.9%

Price Volatility Vs. Market

How volatile is MSA Safety's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is MSA Safety undervalued compared to its fair value and its price relative to the market?

36.3x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: MSA ($143.21) is trading above our estimate of fair value ($38.94)

Significantly Below Fair Value: MSA is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: MSA is poor value based on its PE Ratio (36.3x) compared to the US Commercial Services industry average (27.3x).

PE vs Market: MSA is poor value based on its PE Ratio (36.3x) compared to the US market (19x).


Price to Earnings Growth Ratio

PEG Ratio: MSA is poor value based on its PEG Ratio (2.8x)


Price to Book Ratio

PB vs Industry: MSA is overvalued based on its PB Ratio (7.5x) compared to the US Commercial Services industry average (1.5x).


Next Steps

Future Growth

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

13.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: MSA's forecast earnings growth (13.1% per year) is above the savings rate (2.2%).

Earnings vs Market: MSA's earnings (13.1% per year) are forecast to grow slower than the US market (22.1% per year).

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

Revenue vs Market: MSA's revenue (4.6% per year) is forecast to grow slower than the US market (10% per year).

High Growth Revenue: MSA's revenue (4.6% 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


Next Steps

Past Performance

How has MSA Safety performed over the past 5 years?

15.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: MSA has high quality earnings.

Growing Profit Margin: MSA's current net profit margins (11.1%) are higher than last year (8.9%).


Past Earnings Growth Analysis

Earnings Trend: MSA's earnings have grown by 15% per year over the past 5 years.

Accelerating Growth: MSA's earnings growth over the past year (25.8%) exceeds its 5-year average (15% per year).

Earnings vs Industry: MSA earnings growth over the past year (25.8%) exceeded the Commercial Services industry -8%.


Return on Equity

High ROE: MSA's Return on Equity (20.6%) is considered high.


Next Steps

Financial Health

How is MSA Safety's financial position?


Financial Position Analysis

Short Term Liabilities: MSA's short term assets ($721.6M) exceed its short term liabilities ($293.4M).

Long Term Liabilities: MSA's short term assets ($721.6M) exceed its long term liabilities ($710.9M).


Debt to Equity History and Analysis

Debt Level: MSA's debt to equity ratio (43.5%) is considered high.

Reducing Debt: MSA's debt to equity ratio has reduced from 51.2% to 43.5% over the past 5 years.

Debt Coverage: MSA's debt is well covered by operating cash flow (64.7%).

Interest Coverage: MSA's interest payments on its debt are well covered by EBIT (32.3x coverage).


Balance Sheet


Next Steps

Dividend

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

1.20%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: MSA's dividend (1.2%) isn’t notable compared to the bottom 25% of dividend payers in the US market (1.62%).

High Dividend: MSA's dividend (1.2%) is low compared to the top 25% of dividend payers in the US market (4.66%).


Stability and Growth of Payments

Stable Dividend: MSA's dividends per share have been stable in the past 10 years.

Growing Dividend: MSA's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (42.8%), MSA's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

2.8yrs

Average management tenure


CEO

Nish Vartanian (60 yo)

2.42yrs

Tenure

US$6,656,880

Compensation

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 also serves as its Chairman since May, 2 ...


CEO Compensation Analysis

Compensation vs Market: Nish's total compensation ($USD6.66M) is about average for companies of similar size in the US market ($USD7.31M).

Compensation vs Earnings: Nish's compensation has increased by more than 20% in the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Nishan Vartanian
Chairman2.42yrsUS$6.66m0.10%
$ 5.8m
Kenneth Krause
Senior VP4.83yrsUS$1.95m0.027%
$ 1.5m
Steven Blanco
VP & President of Americas3.17yrsUS$1.56m0.029%
$ 1.6m
Bob Leenen
VP & President of MSA International3.08yrsUS$1.06m0.019%
$ 1.1m
Jonathan Buck
Corporate Controller & Principal Accounting Officer0.67yrno data0.0045%
$ 249.5k
Markus Weber
Chief Information Officer & VP10.5yrsno datano data
Elyse Lorenzato
Director of Investor Relationsno datano datano data
Stephanie Sciullo
VP & Chief Legal Officer0.75yrno data0.0079%
$ 442.1k
Mark Deasy
Director of Public Relations & Strategic Communicationsno datano datano data
David McArthur
VP of Global Marketing & Chief Customer Officer0.42yrno datano data
Chris Hepler
Executive Director of Corporate Developmentno datano datano data
Glennis Williams
VP & Chief Human Resources Officerno datano datano data

2.8yrs

Average Tenure

45yo

Average Age

Experienced Management: MSA's management team is considered experienced (2.8 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Nishan Vartanian
Chairman2.42yrsUS$6.66m0.10%
$ 5.8m
Robert Bruggeworth
Lead Independent Director3.42yrsUS$244.66k0.076%
$ 4.3m
John Ryan
Independent Director12.25yrsUS$218.73k6.07%
$ 338.0m
William Lambert
Director13.75yrsUS$269.98k0.21%
$ 11.8m
Diane Pearse
Independent Director16.75yrsUS$217.48k0.079%
$ 4.4m
Gregory Jordan
Independent Director1.67yrsUS$227.54k0.0068%
$ 380.9k
Rebecca Roberts
Independent Director7yrsUS$222.48k0.031%
$ 1.7m
William Sperry
Independent Director1.67yrsUS$242.87k0.0071%
$ 393.1k
Sandra Rogers
Independent Director3yrsUS$214.66k0.011%
$ 638.7k

3.4yrs

Average Tenure

60yo

Average Age

Experienced Board: MSA's board of directors are considered experienced (3.4 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

MSA Safety Incorporated's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: MSA Safety Incorporated
  • Ticker: MSA
  • Exchange: NYSE
  • Founded: 1914
  • Industry: Office Services and Supplies
  • Sector: Commercial Services
  • Market Cap: US$5.569b
  • Shares outstanding: 38.88m
  • Website: https://www.msasafety.com

Number of Employees


Location

  • MSA Safety Incorporated
  • 1000 Cranberry Woods Drive
  • Cranberry Township
  • Pennsylvania
  • 16066-5207
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
MSANYSE (New York Stock Exchange)YesCommon StockUSUSDDec 1972
M07DB (Deutsche Boerse AG)YesCommon StockDEEURDec 1972
MNES.POTCPK (Pink Sheets LLC)PFDUSUSDOct 1990

Biography

MSA Safety Incorporated develops, manufactures, and supplies safety products that protect people and facility infrastructures in the oil, gas, petrochemical, fire service, construction, industrial manufact ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/10/20 01:15
End of Day Share Price2020/10/19 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


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.