MSA Safety (MSA) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of MSA Safety stock $122, price $170, that is 28.4% below the price, quality 68 out of 100. Rating: overvalued. Calculated from audited financials with 25 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.
How to read this chart
60‑month range $104.14 – $201.35 · fair‑value band $79.29 – $162.29 · the $170.14 price screens above the $121.81 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.
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MSA Safety Incorporated develops, manufactures, and supplies safety products and technology solutions that protect workers and facility infrastructures worldwide.
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The company offers breathing apparatus products, including self-contained breathing apparatus; firefighter helmets and protective apparel; and fixed gas and flame detection systems, such as fixed gas detection monitoring systems, flame detectors and open-path infrared gas detectors, and refrigerant detection and identification solution, as well as hand-held portable gas detection instruments to detect the presence or absence of various gases in the air.
It also provides industrial head protection and accessories; fall protection equipment, such as confined space equipment, harnesses, lanyards, and self-retracting lifelines, as well as engineered systems; and air-purifying respirators, eye and face protection products, ballistic helmets, and gas masks.
The company serves fire service, energy, utility, construction, and industrial manufacturing applications, as well as heating, ventilation, air conditioning, and refrigeration industries through distributors and end-users through indirect and direct sales channels.
It offers its products under the V-Gard, Cairns, and Gallet brand names. MSA Safety Incorporated was founded in 1914 and is based in Cranberry Township, Pennsylvania.
Stock analysis
MSA Safety (MSA) currently trades at $170.14, while our model-based Fair Value estimate is $121.81, 28% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of $124.84 per share, and 0 of the 25 models we run sit above the $170.14 price.
Bear case: the Dividend Discount group reads lowest at $30.53, and 25 of the 25 models stay below the price. Data coverage for this calculation is high.
Scenario range: $79.29 (bear) to $162.29 (bull), the price of $170.14 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 68/100 (solid quality), in the Industrials sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
MSA Safety reported revenue of $1.9B in FY2025 versus $1.4B in FY2021, a compound +7.6%/yr. Reported net income was $279M in FY2025, compounding +90.1%/yr from FY2021. FY2021 was a trough year, so the rate overstates the trend.
Key figures
Market cap $6.6B Mid · P/E ratio 21.2 · P/S ratio 3.41 · EPS (TTM) $8.04 · Dividend yield 1.3% · Net margin 16.1% · Return on equity 23.7% · Return on assets (EBIT) 11.0% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 76 out of 100 (low confidence).
What moves the price
The share trades about 16% below its 52-week high and 12% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Industrials peers we cover trades at 7% fair-value upside, at −28%, MSA screens richer than that median.
Fair Value models
Bear$79.29Fair Value $121.81Bull$162.29
Price $170.14 · Downside -28.4%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then ($5.07 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
In the last 6 months, one officer or director bought shares worth $71,093, on Jun 11, 2026. Over the same period, 2 people sold shares worth $4.0M.
SaleNishan J. VartanianDirector20,000 shares at $193.99$3.9MAug 7, 2026
SaleJonathan D. BuckChief Accounting Officer3× since Nov 25, 2025: 1,902 shares, avg. $192.97$367,020Aug 4, 2026
BuyJulie A BeckChief Financial Officer448 shares at $158.69$71,093Jun 11, 2026
Plus 22 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.83/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+3.7%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+7.1%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+6.8%
Start year 2020 (pandemic). Over 10 years: +5.2% a year
Revenue growth 40 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+4.0%
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What shareholders gained per year (last 5 years) (mathematically smoothed) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip.
+24.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year+22.9%
Dividend (yield on the price)1.3%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.17.6% vs 11.7%, picking up
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.13% → 21%
2025 sits 56% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+12.3%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+8.4%
Yearly sales growth analysts expect, extended to five years.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +9.6% a year for the price and +5.9% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (94 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Hype
Recent news coverage is unusually upbeat, far more positive than stocks are typically covered.
AI conclusion: MSA Safety's strength is its shift toward recurring service revenue via connected safety offerings, while its main weak point remains the thin evidence across most durability categories.
Main risk: Draeger's new U.S. products at closer price points and distribution deals plus Honeywell and 3M offerings could erode MSA's margins or share in firefighter SCBA and portable gas detection.
Bull case: MSA could leverage its connected platforms and recent Autronica acquisition to lock in recurring service revenue and outpace rivals in integrated safety solutions.
Bear case: Intensified competition from Draeger and software rivals combined with regulatory shifts could compress margins and slow adoption of MSA's hardware and connected offerings.
MSA Safety is expanding its connected safety offerings with the recent G1 City Edition SCBA that adds beacon technology for faster firefighter location during rescues. This fits the longer shift toward recurring service revenue alongside traditional product cycles in protection equipment. Our models see the shares as overvalued, so will the connected pivot and replacement demand generate enough margin lift to close that gap?
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Security & Protection Services · 105 stocks
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "MSA Safety Fair Value". https://www.fairvalue-calculator.com/stock/MSA
Frequently asked questions
Is MSA Safety (MSA) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of $121.81 versus a price of $170.14, about 28% lower (overvalued).
What is the fair value of MSA?
Our model-based fair value for MSA Safety is $121.81 (as of Nov 7, 2026), built from audited fundamentals. The current price: $170.14.
What is the quality score of MSA?
MSA Safety has a Quality Score of 68/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for MSA Safety (MSA)?
Our model-based price target is the fair value of $121.81 (as of Nov 7, 2026) from 25 valuation models. Cautious scenario $79.29, optimistic scenario $162.29. It is a calculation from audited fundamentals, not an analyst target.
What is the MSA Safety stock forecast for 2026?
Our models put fair value at $121.81, about 28% lower versus a price of $170.14 (overvalued). Cautious scenario $79.29, optimistic scenario $162.29. The calculation is refreshed regularly with new filings.
What is the revenue of MSA Safety (MSA)?
MSA Safety reported trailing-twelve-month revenue of about $1.9B (latest available figure, as of Nov 7, 2026).
Does MSA Safety pay a dividend?
MSA Safety currently shows a dividend yield of 1.25% relative to its recent price (as of Nov 7, 2026).
How much is the dividend of MSA Safety (MSA) and when is the ex-dividend date?
MSA Safety pays a dividend of $2.13 per share a year, a dividend yield of 1.3%. The next ex-dividend date is Nov 13, 2026, with payment on Dec 10, 2026. A dividend has been paid every year since at least 1985. The payout ratio is 26.5% of earnings. Free cash flow covers the dividend 3.60 times. Our assessment: Well covered. A low payout and the dividend is fully funded by free cash flow, a comfortable, sustainable dividend.
What growth is priced into MSA Safety (MSA)?
For today's price to be fair in a discounted-cash-flow model, MSA Safety would have to grow free cash flow by +12.3 % per year for five years (discount rate 9.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +6.8 % per year. As of Nov 7, 2026.
What discount rate (WACC) does the fair value of MSA use?
Our models discount MSA Safety at 9.5 %: a base by market capitalisation (mid), damped by beta 0.91, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For MSA Safety that is +12.3 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (9.5 %) and the same formula as our fair value.
How much growth has MSA Safety (MSA) delivered so far?
Over the past 5 years revenue at MSA Safety grew +6.8 % a year. The price currently implies free-cash-flow growth of +12.3 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of MSA Safety (MSA) growing?
The median revenue growth in the sector is +7.8 % a year. That is the yardstick for the growth priced into MSA Safety (+12.3 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of MSA Safety (MSA)?
The free-cash-flow yield on the price is 4.45 %: that much free cash flow MSA Safety produces per unit of market value. When it exceeds the discount rate of our models (9.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of MSA Safety (MSA)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For MSA Safety it is $121.81 per share (as of Nov 7, 2026), against a price of $170.14. It is the blended result of 25 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is MSA Safety stock overvalued or undervalued in 2026?
As of Nov 7, 2026, MSA trades above its calculated fair value: price $170.14, fair value $121.81, a gap of about −28% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of MSA?
No. The price is what the market pays today ($170.14); the fair value is what the company's own numbers justify ($121.81). For MSA Safety the two are $48.33 per share apart. That gap is exactly why we show both numbers side by side.
How much is MSA Safety worth?
The market values MSA Safety at about $6.6B (market capitalisation, as of Nov 7, 2026). Per share that is $170.14; our models calculate a fair value of $121.81 per share.
What do the bullish and bearish scenarios say about MSA?
Our models span a range for MSA Safety: cautious scenario $79.29, base $121.81, optimistic $162.29 per share (as of Nov 7, 2026, price $170.14). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of MSA?
MSA Safety trades at a price-to-earnings ratio of 21.2 (as of Nov 7, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $121.81 is built from several models across several years. Median P/E at fiscal year-end, 10 fiscal years (2016 to 2025), reported earnings: 33.8. Other multiples: PEG 1.0, P/B 4.9, P/S 3.4, EV/EBITDA 13.6.
What is the PEG ratio of MSA?
The PEG ratio of MSA Safety is 0.99 (P/E divided by earnings growth, as of Nov 7, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of MSA Safety (MSA)?
Balance-sheet figures for MSA Safety (as of Nov 7, 2026): return on equity 23.7%, debt of 0.42 per unit of equity. They feed the Quality Score of 68/100, which measures business quality independently of the share price.
How far is MSA from its 52-week high?
MSA Safety trades at $170.14, about 16% below its 52-week high of $201.35 and 12% above the low of $151.64 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of $121.81 is for.
Which stocks are comparable to MSA Safety?
From the same area (Industrials) we also value Allegion plc, ADT Inc, Zhejiang Dahua Technology Co, The Brink's Company, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is MSA Safety stock attractive at the current price?
The data as of Nov 7, 2026: price $170.14, calculated fair value $121.81 (−28%), Quality Score 68/100, from 25 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of MSA calculated?
We run MSA Safety through 25 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of $121.81 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. MSA Safety itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of MSA Safety (MSA)?
The closing price on Nov 6, 2026 was $170.14. Our model-based fair value is $121.81, about 28% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with MSA Safety right now?
The price sits above even our optimistic bull case ($162.29). The favourable scenario is already priced in. Solid but not exceptional quality (68/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range ($79.29 to $162.29) leaves room in how you read the outcome.
Where does the earnings growth of MSA Safety (MSA) come from?
Earnings per share at MSA Safety grew +10.1 % a year from 2014 to 2025. Broken into its drivers: revenue per share +4.9 %, EBIT margin +4.2 %, tax rate +0.3 %, residual (interest, one-offs) +0.4 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of MSA Safety
How large is the market capitalisation of MSA Safety (MSA)?
The market capitalisation of MSA Safety is $6.6B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of MSA Safety (MSA)?
The price-to-sales ratio of MSA Safety is 3.41 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of MSA Safety (MSA)?
Earnings per share at MSA Safety are $8.04 (price ÷ EPS = P/E 21.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of MSA Safety (MSA)?
The dividend yield of MSA Safety is 1.3% (payout 26.5%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of MSA Safety (MSA)?
The net margin of MSA Safety is 16.1% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of MSA Safety (MSA)?
The return on equity (ROE) of MSA Safety is 23.7% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of MSA Safety (MSA)?
On an EBIT basis the return on assets of MSA Safety is 11.0% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of MSA Safety (MSA)?
The operating margin of MSA Safety is 24.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at MSA Safety (MSA)?
Revenue at MSA Safety is growing +6.2% versus a year earlier (3y avg +7.1%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at MSA Safety (MSA)?
Earnings per share at MSA Safety are growing +40.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does MSA Safety (MSA) carry?
The net debt of MSA Safety is $462M (fiscal year 2025, ≈ 1.6 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Nov 7, 2026