MSA Safety Inc

MSA · Healthcare · $6.7B mkt cap · FY2025 filings · Narrow moat

On the watchlist

Narrow moat

The four filters

Pricing power77

Median gross margin 45.2% over 10y, very stable.

Returns on capital64

Median ROIC 13.2%, above the 9% hurdle in 80% of years.

Balance-sheet safety66

Net debt/EBITDA 0.9x, interest coverage 12x.

Capital discipline74

Owner earnings +12.0%/yr, share count growing (dilution).

Margin of safety

Above valueOn sale

101% above value

Owner earnings (normalized): $184.2M
Est. intrinsic value / share: $85.20
Recent price: $171.25
Discount to value: 101% above value

Conservative model: 9% discount rate, 4% assumed growth (capped at 4%), maintenance capex ≈ min(capex, D&A).

Moat Score history

Score history begins 2026-07-17. Check back as the record builds.

Scores are logged append-only and never overwritten — this record can't be backfilled, which is exactly why it's worth keeping.

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Scored from primary SEC filings via the public methodology. Educational only — not a recommendation to buy or sell MSA. See the disclaimer.