MSA SAFETY INC (MSA) Stock Fundamental Analysis
USA - NYSE:MSA - US5534981064 - Common Stock
170.97 USD
+0.39 (+0.23%)
170.97 USD
0 (0%)
Overall MSA gets a fundamental rating of 7 out of 10. We evaluated MSA against 84 industry peers in the Commercial Services & Supplies industry. MSA has outstanding health and profitabily ratings, belonging to the best of the industry. This is a solid base for any company. MSA is not valued too expensively and it also shows a decent growth rate. Finally MSA also has an excellent dividend rating. This makes MSA very considerable for dividend investing!
1. Profitability
1.1 Basic Checks
MSA had positive earnings in the past year.
In the past year MSA had a positive cash flow from operations.
MSA had positive earnings in each of the past 5 years.
Each year in the past 5 years MSA had a positive operating cash flow.
1.2 Ratios
The Return On Assets of MSA (10.86%) is better than 86.90% of its industry peers.
MSA has a Return On Equity of 22.11%. This is amongst the best in the industry. MSA outperforms 89.29% of its industry peers.
MSA's Return On Invested Capital of 13.57% is amongst the best of the industry. MSA outperforms 85.71% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for MSA is above the industry average of 10.60%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 10.86% | ||
| ROE | 22.11% | ||
| ROIC | 13.57% |
ROA(3y)7.72%
ROA(5y)6.1%
ROE(3y)16.81%
ROE(5y)13.55%
ROIC(3y)14.63%
ROIC(5y)11.25%
1.3 Margins
MSA has a Profit Margin of 15.15%. This is amongst the best in the industry. MSA outperforms 90.48% of its industry peers.
MSA's Profit Margin has improved in the last couple of years.
MSA has a better Operating Margin (21.28%) than 95.24% of its industry peers.
MSA's Operating Margin has improved in the last couple of years.
Looking at the Gross Margin, with a value of 46.83%, MSA belongs to the top of the industry, outperforming 84.52% of the companies in the same industry.
In the last couple of years the Gross Margin of MSA has remained more or less at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 21.28% | ||
| PM (TTM) | 15.15% | ||
| GM | 46.83% |
OM growth 3Y78.35%
OM growth 5Y6.79%
PM growth 3Y117.98%
PM growth 5Y9.9%
GM growth 3Y2.69%
GM growth 5Y0.88%
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), MSA is creating some value.
MSA has about the same amout of shares outstanding than it did 1 year ago.
Compared to 5 years ago, MSA has more shares outstanding
Compared to 1 year ago, MSA has an improved debt to assets ratio.
2.2 Solvency
MSA has an Altman-Z score of 5.38. This indicates that MSA is financially healthy and has little risk of bankruptcy at the moment.
MSA's Altman-Z score of 5.38 is amongst the best of the industry. MSA outperforms 82.14% of its industry peers.
The Debt to FCF ratio of MSA is 2.69, which is a good value as it means it would take MSA, 2.69 years of fcf income to pay off all of its debts.
With a decent Debt to FCF ratio value of 2.69, MSA is doing good in the industry, outperforming 75.00% of the companies in the same industry.
MSA has a Debt/Equity ratio of 0.54. This is a neutral value indicating MSA is somewhat dependend on debt financing.
The Debt to Equity ratio of MSA (0.54) is comparable to the rest of the industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.54 | ||
| Debt/FCF | 2.69 | ||
| Altman-Z | 5.38 |
ROIC/WACC1.6
WACC8.47%
2.3 Liquidity
MSA has a Current Ratio of 3.11. This indicates that MSA is financially healthy and has no problem in meeting its short term obligations.
Looking at the Current ratio, with a value of 3.11, MSA belongs to the top of the industry, outperforming 84.52% of the companies in the same industry.
A Quick Ratio of 1.90 indicates that MSA should not have too much problems paying its short term obligations.
With a decent Quick ratio value of 1.90, MSA is doing good in the industry, outperforming 78.57% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 3.11 | ||
| Quick Ratio | 1.9 |
3. Growth
3.1 Past
The Earnings Per Share has been growing slightly by 3.08% over the past year.
The Earnings Per Share has been growing by 9.91% on average over the past years. This is quite good.
MSA shows a small growth in Revenue. In the last year, the Revenue has grown by 0.55%.
The Revenue has been growing slightly by 5.22% on average over the past years.
EPS 1Y (TTM)3.08%
EPS 3Y18.56%
EPS 5Y9.91%
EPS Q2Q%-3.98%
Revenue 1Y (TTM)0.55%
Revenue growth 3Y8.9%
Revenue growth 5Y5.22%
Sales Q2Q%2.52%
3.2 Future
MSA is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 8.77% yearly.
Based on estimates for the next years, MSA will show a small growth in Revenue. The Revenue will grow by 4.60% on average per year.
EPS Next Y3.01%
EPS Next 2Y6.98%
EPS Next 3Y7.99%
EPS Next 5Y8.77%
Revenue Next Year3.09%
Revenue Next 2Y4.24%
Revenue Next 3Y4.31%
Revenue Next 5Y4.6%
3.3 Evolution
The EPS growth rate is stable: in the next years the growth will be about the same than in the last years.
The Revenue growth rate is stable: in the next years the growth will be about the same than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
Based on the Price/Earnings ratio of 22.23, the valuation of MSA can be described as rather expensive.
Based on the Price/Earnings ratio, MSA is valued a bit cheaper than the industry average as 66.67% of the companies are valued more expensively.
Compared to an average S&P500 Price/Earnings ratio of 27.38, MSA is valued at the same level.
With a Price/Forward Earnings ratio of 19.40, MSA is valued on the expensive side.
Compared to the rest of the industry, the Price/Forward Earnings ratio of MSA indicates a somewhat cheap valuation: MSA is cheaper than 70.24% of the companies listed in the same industry.
MSA is valuated at similar levels of the S&P average when we compare the Price/Forward Earnings ratio to 22.86, which is the current average of the S&P500 Index.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 22.23 | ||
| Fwd PE | 19.4 |
4.2 Price Multiples
The rest of the industry has a similar Enterprise Value to EBITDA ratio as MSA.
Based on the Price/Free Cash Flow ratio, MSA is valued a bit cheaper than 67.86% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 26.51 | ||
| EV/EBITDA | 15.82 |
4.3 Compensation for Growth
The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates MSA does not grow enough to justify the current Price/Earnings ratio.
The excellent profitability rating of MSA may justify a higher PE ratio.
PEG (NY)7.39
PEG (5Y)2.24
EPS Next 2Y6.98%
EPS Next 3Y7.99%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 1.23%, MSA has a reasonable but not impressive dividend return.
MSA's Dividend Yield is rather good when compared to the industry average which is at 2.27. MSA pays more dividend than 80.95% of the companies in the same industry.
Compared to an average S&P500 Dividend Yield of 2.38, MSA's dividend is way lower than the S&P500 average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.23% |
5.2 History
The dividend of MSA has a limited annual growth rate of 4.06%.
MSA has paid a dividend for at least 10 years, which is a reliable track record.
MSA has not decreased its dividend for at least 10 years, so it has a reliable track record of non decreasing dividend.
Dividend Growth(5Y)4.06%
Div Incr Years11
Div Non Decr Years11
5.3 Sustainability
MSA pays out 29.27% of its income as dividend. This is a sustainable payout ratio.
MSA's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP29.27%
EPS Next 2Y6.98%
EPS Next 3Y7.99%
170.97
+0.39 (+0.23%)
Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCommercial & Professional Services
GICS IndustryCommercial Services & Supplies
Earnings (Last)
Earnings (Next)
Inst Owners89.58%
Inst Owner Change2.83%
Ins Owners0.8%
Ins Owner Change-1.43%
Market Cap6.70B
Analysts76
Price Target195.64 (14.43%)
Short Float %3.42%
Short Ratio5.95
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 1.23% |
Yearly Dividend2
Dividend Growth(5Y)4.06%
DP29.27%
Div Incr Years11
Div Non Decr Years11
Ex-Date
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)6.28%
Min EPS beat(2)5.26%
Max EPS beat(2)7.29%
EPS beat(4)3
Avg EPS beat(4)3.08%
Min EPS beat(4)-0.61%
Max EPS beat(4)7.29%
EPS beat(8)7
Avg EPS beat(8)5.71%
EPS beat(12)11
Avg EPS beat(12)10.22%
EPS beat(16)14
Avg EPS beat(16)10.53%
Revenue beat(2)2
Avg Revenue beat(2)4.33%
Min Revenue beat(2)3.61%
Max Revenue beat(2)5.05%
Revenue beat(4)2
Avg Revenue beat(4)-0.25%
Min Revenue beat(4)-4.87%
Max Revenue beat(4)5.05%
Revenue beat(8)4
Avg Revenue beat(8)0.84%
Revenue beat(12)8
Avg Revenue beat(12)1.99%
Revenue beat(16)11
Avg Revenue beat(16)1.73%
PT rev (1m)7.63%
PT rev (3m)8.21%
EPS NQ rev (1m)-1.37%
EPS NQ rev (3m)-5.14%
EPS NY rev (1m)1.55%
EPS NY rev (3m)1.58%
Revenue NQ rev (1m)1.06%
Revenue NQ rev (3m)2.08%
Revenue NY rev (1m)2.26%
Revenue NY rev (3m)2.31%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 22.23 | ||
| Fwd PE | 19.4 | ||
| P/S | 3.66 | ||
| P/FCF | 26.51 | ||
| P/OCF | 20.84 | ||
| P/B | 5.34 | ||
| P/tB | 32.12 | ||
| EV/EBITDA | 15.82 |
EPS(TTM)7.69
EY4.5%
EPS(NY)8.81
Fwd EY5.15%
FCF(TTM)6.45
FCFY3.77%
OCF(TTM)8.2
OCFY4.8%
SpS46.68
BVpS31.99
TBVpS5.32
PEG (NY)7.39
PEG (5Y)2.24
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 10.86% | ||
| ROE | 22.11% | ||
| ROCE | 17.17% | ||
| ROIC | 13.57% | ||
| ROICexc | 14.51% | ||
| ROICexgc | 28.62% | ||
| OM | 21.28% | ||
| PM (TTM) | 15.15% | ||
| GM | 46.83% | ||
| FCFM | 13.81% |
ROA(3y)7.72%
ROA(5y)6.1%
ROE(3y)16.81%
ROE(5y)13.55%
ROIC(3y)14.63%
ROIC(5y)11.25%
ROICexc(3y)15.96%
ROICexc(5y)12.44%
ROICexgc(3y)32.31%
ROICexgc(5y)24.61%
ROCE(3y)18.52%
ROCE(5y)14.24%
ROICexcg growth 3Y97.54%
ROICexcg growth 5Y5.68%
ROICexc growth 3Y98.64%
ROICexc growth 5Y5.18%
OM growth 3Y78.35%
OM growth 5Y6.79%
PM growth 3Y117.98%
PM growth 5Y9.9%
GM growth 3Y2.69%
GM growth 5Y0.88%
F-Score5
Asset Turnover0.72
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.54 | ||
| Debt/FCF | 2.69 | ||
| Debt/EBITDA | 1.47 | ||
| Cap/Depr | 102.54% | ||
| Cap/Sales | 3.76% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 70.46% | ||
| Profit Quality | 91.18% | ||
| Current Ratio | 3.11 | ||
| Quick Ratio | 1.9 | ||
| Altman-Z | 5.38 |
F-Score5
WACC8.47%
ROIC/WACC1.6
Cap/Depr(3y)77.54%
Cap/Depr(5y)90.68%
Cap/Sales(3y)2.75%
Cap/Sales(5y)3.08%
Profit Quality(3y)77.96%
Profit Quality(5y)213.06%
High Growth Momentum
Growth
EPS 1Y (TTM)3.08%
EPS 3Y18.56%
EPS 5Y9.91%
EPS Q2Q%-3.98%
EPS Next Y3.01%
EPS Next 2Y6.98%
EPS Next 3Y7.99%
EPS Next 5Y8.77%
Revenue 1Y (TTM)0.55%
Revenue growth 3Y8.9%
Revenue growth 5Y5.22%
Sales Q2Q%2.52%
Revenue Next Year3.09%
Revenue Next 2Y4.24%
Revenue Next 3Y4.31%
Revenue Next 5Y4.6%
EBIT growth 1Y-3.38%
EBIT growth 3Y94.21%
EBIT growth 5Y12.36%
EBIT Next Year13.37%
EBIT Next 3Y9.25%
EBIT Next 5Y10.52%
FCF growth 1Y318.25%
FCF growth 3Y17.32%
FCF growth 5Y13.53%
OCF growth 1Y538.32%
OCF growth 3Y14.19%
OCF growth 5Y12.43%