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MSA Safety Incorporated (the "Company" or "MSA") is the global leader in advanced safety products, technology and solutions. Driven by its singular mission of safety, the Company has been at the forefront of safety innovation since 1914, protecting workers and facility infrastructure around the world across a broad range of diverse end markets while creating sustainable value for shareholders.
19.83% operating margin is respectable but not wide. ROIC at 15.30%. Suggests the business covers its cost of capital, but doesn't point to a wide moat.
Revenue grew 3.7%, steady but not accelerating.
ROIC dropped from 17.96% to 15.30%, capital efficiency is deteriorating.
Profitability & Returns
Revenue (TTM)
$1.92B
▲ +3.7% YoY
Net Income (TTM)
$291M
▼ -2.1% YoY
Op. Margin
20.19%
▼ -1.7pp YoY
ROIC
14.85%
▼ -2.7pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$309M
▲ +22.0% YoY
Op. Cash Flow (TTM)
$378M
▲ +22.8% YoY
Net Debt
$478M
Cash & Equiv.
$180M
5Y CAGR: +6.8%
5Y CAGR: +13.4%
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