MSA
MSA Safety Incorporated
Security & Protection Services
Market Cap$6.67B
5Y Perf.+44.5%
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Stock Comparison
MSA vs AMSF
Revenue, margins, valuation, and 5-year total return — side by side.
AMSF
AMERISAFE, Inc.
Insurance - Specialty
Market Cap$569M
5Y Perf.-50.6%
MSA vs AMSF — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | MSA | AMSF |
|---|---|---|
| Industry | Security & Protection Services | Insurance - Specialty |
| Market Cap | $6.67B | $569M |
| Revenue (TTM) | $1.92B | $325M |
| Net Income (TTM) | $291M | $46M |
| Gross Margin | 46.8% | 47.6% |
| Operating Margin | 22.0% | 17.8% |
| Forward P/E | 19.8x | 14.4x |
| Total Debt | $627M | $491K |
| Cash & Equiv. | $165M | $62M |
MSA vs AMSF — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
MSA
AMSF
| Stock | May 20 | May 26 | Return |
|---|---|---|---|
| MSA Safety Incorpor… (MSA) | 100 | 144.5 | +44.5% |
| AMERISAFE, Inc. (AMSF) | 100 | 49.4 | -50.6% |
Price return only. Dividends and distributions are not included.
Quick Verdict: MSA vs AMSF
Each card shows where this stock fits in a portfolio — not just who wins on paper.
Bottom line: MSA leads in 5 of 7 categories, making it the strongest pick for growth and revenue expansion and profitability and margin quality. AMERISAFE, Inc. is the stronger pick specifically for valuation and capital efficiency and capital preservation and lower volatility. This set spans 2 sectors — these stocks serve different portfolio roles, not just different price points.
MSA
MSA Safety Incorporated
The Growth Play
MSA carries the broadest edge in this set and is the clearest fit for growth exposure and long-term compounding.
- Rev growth 3.7%, EPS growth -1.7%, 3Y rev CAGR 7.1%
- 294.0% 10Y total return vs AMSF's 31.8%
- 3.7% revenue growth vs AMSF's 2.6%
Best for: growth exposure and long-term compounding
AMSF
AMERISAFE, Inc.
The Insurance Pick
AMSF is the clearest fit if your priority is income & stability and sleep-well-at-night.
- Dividend streak 0 yrs, beta 0.23, yield 8.4%
- Lower volatility, beta 0.23, Low D/E 0.2%, current ratio 0.32x
- Beta 0.23, yield 8.4%, current ratio 0.32x
Best for: income & stability and sleep-well-at-night
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | MSA | 3.7% revenue growth vs AMSF's 2.6% |
| Value | AMSF | Lower P/E (14.4x vs 19.8x) |
| Quality / Margins | MSA | 15.2% margin vs AMSF's 14.3% |
| Stability / Safety | AMSF | Beta 0.23 vs MSA's 0.90, lower leverage |
| Dividends | MSA | 1.2% yield, 12-year raise streak, vs AMSF's 8.4% |
| Momentum (1Y) | MSA | +11.7% vs AMSF's -29.2% |
| Efficiency (ROA) | MSA | 11.4% ROA vs AMSF's 5.6%, ROIC 17.9% vs 21.9% |
MSA vs AMSF — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
FY 2025
Segment breakdown not available.
MSA vs AMSF — Financial Metrics
Side-by-side numbers across 2 stocks — who leads on profitability, valuation, growth, and risk.
BEST OVERALLMSALAGGINGAMSF
AMSFAMERISAFE, Inc.
2leads
MSAMSA Safety Incorporat…
2leads
6 Total Categories
CATEGORYLEADERvs AMSFMETRICS WON
Income & Cash FlowRevenue, margins, and cash flow strength
MSA4/6
Valuation MetricsMultiples, price ratios, and targets
AMSF5/6
Profitability & EfficiencyROE, ROIC, leverage, and quality scores
AMSF5/8
Total Returns1Y, 3Y, 5Y total returns with dividends
MSA6/6
Risk & VolatilityBeta, volatility, and downside exposure
Tied
—
Analyst OutlookRatings, price targets, and dividends
Tied
—
Income & Cash Flow (Last 12 Months)
MSA leads this category, winning 4 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
MSA is the larger business by revenue, generating $1.9B annually — 5.9x AMSF's $325M. Profitability is closely matched — net margins range from 15.2% (MSA) to 14.3% (AMSF).
| Metric | MSAMSA Safety Incorp… | AMSFAMERISAFE, Inc. |
|---|---|---|
| RevenueTrailing 12 months | $1.9B | $325M |
| EBITDAEarnings before interest/tax | $496M | $58M |
| Net IncomeAfter-tax profit | $291M | $46M |
| Free Cash FlowCash after capex | $309M | $8M |
| Gross MarginGross profit ÷ Revenue | +46.8% | +47.6% |
| Operating MarginEBIT ÷ Revenue | +22.0% | +17.8% |
| Net MarginNet income ÷ Revenue | +15.2% | +14.3% |
| FCF MarginFCF ÷ Revenue | +16.1% | +2.5% |
| Rev. Growth (YoY)Latest quarter vs prior year | +10.0% | +10.3% |
| EPS Growth (YoY)Latest quarter vs prior year | +21.2% | -8.5% |
MSA leads this category, winning 4 of 6 comparable metrics.
Valuation Metrics
AMSF leads this category, winning 5 of 6 comparable metrics.
Valuation Metrics
At 12.3x trailing earnings, AMSF trades at a 49% valuation discount to MSA's 24.2x P/E. On an enterprise value basis, AMSF's 8.5x EV/EBITDA is more attractive than MSA's 15.1x.
| Metric | MSAMSA Safety Incorp… | AMSFAMERISAFE, Inc. |
|---|---|---|
| Market CapShares × price | $6.7B | $569M |
| Enterprise ValueMkt cap + debt − cash | $7.1B | $508M |
| Trailing P/EPrice ÷ TTM EPS | 24.25x | 12.27x |
| Forward P/EPrice ÷ next-FY EPS est. | 19.76x | 14.42x |
| PEG RatioP/E ÷ EPS growth rate | 1.38x | — |
| EV / EBITDAEnterprise value multiple | 15.05x | 8.53x |
| Price / SalesMarket cap ÷ Revenue | 3.56x | 1.80x |
| Price / BookPrice ÷ Book value/share | 4.95x | 2.30x |
| Price / FCFMarket cap ÷ FCF | 22.56x | 63.83x |
AMSF leads this category, winning 5 of 6 comparable metrics.
Profitability & Efficiency
AMSF leads this category, winning 5 of 8 comparable metrics.
Profitability & Efficiency
MSA delivers a 22.0% return on equity — every $100 of shareholder capital generates $22 in annual profit, vs $10 for AMSF. AMSF carries lower financial leverage with a 0.00x debt-to-equity ratio, signaling a more conservative balance sheet compared to MSA's 0.46x. On the Piotroski fundamental quality scale (0–9), AMSF scores 7/9 vs MSA's 6/9, reflecting strong financial health.
| Metric | MSAMSA Safety Incorp… | AMSFAMERISAFE, Inc. |
|---|---|---|
| ROE (TTM)Return on equity | +22.0% | +9.7% |
| ROA (TTM)Return on assets | +11.4% | +5.6% |
| ROICReturn on invested capital | +17.9% | +21.9% |
| ROCEReturn on capital employed | +19.2% | +16.8% |
| Piotroski ScoreFundamental quality 0–9 | 6 | 7 |
| Debt / EquityFinancial leverage | 0.46x | 0.00x |
| Net DebtTotal debt minus cash | $462M | -$61M |
| Cash & Equiv.Liquid assets | $165M | $62M |
| Total DebtShort + long-term debt | $627M | $491,000 |
| Interest CoverageEBIT ÷ Interest expense | 12.70x | — |
AMSF leads this category, winning 5 of 8 comparable metrics.
Total Returns (Dividends Reinvested)
MSA leads this category, winning 6 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in MSA five years ago would be worth $10,970 today (with dividends reinvested), compared to $8,110 for AMSF. Over the past 12 months, MSA leads with a +11.7% total return vs AMSF's -29.2%. The 3-year compound annual growth rate (CAGR) favors MSA at 9.6% vs AMSF's -9.1% — a key indicator of consistent wealth creation.
| Metric | MSAMSA Safety Incorp… | AMSFAMERISAFE, Inc. |
|---|---|---|
| YTD ReturnYear-to-date | +6.3% | -18.3% |
| 1-Year ReturnPast 12 months | +11.7% | -29.2% |
| 3-Year ReturnCumulative with dividends | +31.5% | -24.8% |
| 5-Year ReturnCumulative with dividends | +9.7% | -18.9% |
| 10-Year ReturnCumulative with dividends | +294.0% | +31.8% |
| CAGR (3Y)Annualised 3-year return | +9.6% | -9.1% |
MSA leads this category, winning 6 of 6 comparable metrics.
Risk & Volatility
Evenly matched — MSA and AMSF each lead in 1 of 2 comparable metrics.
Risk & Volatility
AMSF is the less volatile stock with a 0.23 beta — it tends to amplify market swings less than MSA's 0.90 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. MSA currently trades 82.3% from its 52-week high vs AMSF's 62.4% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | MSAMSA Safety Incorp… | AMSFAMERISAFE, Inc. |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.90x | 0.23x |
| 52-Week HighHighest price in past year | $208.92 | $48.54 |
| 52-Week LowLowest price in past year | $151.10 | $29.42 |
| % of 52W HighCurrent price vs 52-week peak | +82.3% | +62.4% |
| RSI (14)Momentum oscillator 0–100 | 55.8 | 34.2 |
| Avg Volume (50D)Average daily shares traded | 209K | 212K |
Evenly matched — MSA and AMSF each lead in 1 of 2 comparable metrics.
Analyst Outlook
Evenly matched — MSA and AMSF each lead in 1 of 2 comparable metrics.
Analyst Outlook
Wall Street rates MSA as "Buy" and AMSF as "Buy". Consensus price targets imply 46.9% upside for AMSF (target: $45) vs 36.7% for MSA (target: $235). For income investors, AMSF offers the higher dividend yield at 8.41% vs MSA's 1.22%.
| Metric | MSAMSA Safety Incorp… | AMSFAMERISAFE, Inc. |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $235.00 | $44.50 |
| # AnalystsCovering analysts | 11 | 6 |
| Dividend YieldAnnual dividend ÷ price | +1.2% | +8.4% |
| Dividend StreakConsecutive years of raises | 12 | 0 |
| Dividend / ShareAnnual DPS | $2.09 | $2.55 |
| Buyback YieldShare repurchases ÷ mkt cap | +1.3% | +2.1% |
Evenly matched — MSA and AMSF each lead in 1 of 2 comparable metrics.
Key Takeaway
MSA leads in 2 of 6 categories (Income & Cash Flow, Total Returns). AMSF leads in 2 (Valuation Metrics, Profitability & Efficiency). 2 tied.
Best OverallMSA Safety Incorporated (MSA)Leads 2 of 6 categories
Loading custom metrics...
MSA vs AMSF: Frequently Asked Questions
10 questions · data-driven answers · updated daily
01Is MSA or AMSF a better buy right now?
For growth investors, MSA Safety Incorporated (MSA) is the stronger pick with 3.
7% revenue growth year-over-year, versus 2. 6% for AMERISAFE, Inc. (AMSF). AMERISAFE, Inc. (AMSF) offers the better valuation at 12. 3x trailing P/E (14. 4x forward), making it the more compelling value choice. Analysts rate MSA Safety Incorporated (MSA) a "Buy" — based on 11 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — MSA or AMSF?
On trailing P/E, AMERISAFE, Inc.
(AMSF) is the cheapest at 12. 3x versus MSA Safety Incorporated at 24. 2x. On forward P/E, AMERISAFE, Inc. is actually cheaper at 14. 4x.
03Which is the better long-term investment — MSA or AMSF?
Over the past 5 years, MSA Safety Incorporated (MSA) delivered a total return of +9.
7%, compared to -18. 9% for AMERISAFE, Inc. (AMSF). Over 10 years, the gap is even starker: MSA returned +294. 0% versus AMSF's +31. 8%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — MSA or AMSF?
By beta (market sensitivity over 5 years), AMERISAFE, Inc.
(AMSF) is the lower-risk stock at 0. 23β versus MSA Safety Incorporated's 0. 90β — meaning MSA is approximately 290% more volatile than AMSF relative to the S&P 500. On balance sheet safety, AMERISAFE, Inc. (AMSF) carries a lower debt/equity ratio of 0% versus 46% for MSA Safety Incorporated — giving it more financial flexibility in a downturn.
05Which is growing faster — MSA or AMSF?
By revenue growth (latest reported year), MSA Safety Incorporated (MSA) is pulling ahead at 3.
7% versus 2. 6% for AMERISAFE, Inc. (AMSF). On earnings-per-share growth, the picture is similar: MSA Safety Incorporated grew EPS -1. 7% year-over-year, compared to -14. 5% for AMERISAFE, Inc.. Over a 3-year CAGR, MSA leads at 7. 1% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — MSA or AMSF?
MSA Safety Incorporated (MSA) is the more profitable company, earning 14.
9% net margin versus 14. 9% for AMERISAFE, Inc. — meaning it keeps 14. 9% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: MSA leads at 21. 4% versus 18. 6% for AMSF. At the gross margin level — before operating expenses — MSA leads at 46. 5%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
07Is MSA or AMSF more undervalued right now?
On forward earnings alone, AMERISAFE, Inc.
(AMSF) trades at 14. 4x forward P/E versus 19. 8x for MSA Safety Incorporated — 5. 3x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for AMSF: 46. 9% to $44. 50.
08Which pays a better dividend — MSA or AMSF?
All stocks in this comparison pay dividends.
AMERISAFE, Inc. (AMSF) offers the highest yield at 8. 4%, versus 1. 2% for MSA Safety Incorporated (MSA).
09Is MSA or AMSF better for a retirement portfolio?
For long-horizon retirement investors, AMERISAFE, Inc.
(AMSF) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0. 23), 8. 4% yield). Both have compounded well over 10 years (AMSF: +31. 8%, MSA: +294. 0%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
10What are the main differences between MSA and AMSF?
These companies operate in different sectors (MSA (Industrials) and AMSF (Financial Services)), which means they face different economic cycles, regulatory environments, and macro sensitivities — making direct comparison nuanced.
In terms of investment character: MSA is a small-cap quality compounder stock; AMSF is a small-cap deep-value stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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Revenue Growth>
%
(MSA: 10.0% · AMSF: 10.3%)Net Margin>
%
(MSA: 15.2% · AMSF: 14.3%)P/E Ratio<
x
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