ATS vs MSA Safety
ATS and MSA Safety are similar in size: $2.15bn and $1.87bn of revenue in their latest fiscal years. ATS grew faster (18.1% against 3.7%). MSA Safety kept more of each dollar of sales as profit: a net margin of 14.9% against 2.4%.
| Latest fiscal year | ATSATS, 2026 | MSA SafetyMSA, 2025 |
|---|---|---|
| Revenue | $2.15bn | $1.87bn |
| Revenue growth | 18.1% | 3.7% |
| Net income | $51.9m | $279m |
| Operating margin | 6.7% | — |
| Net margin | 2.4% | 14.9% |
| Return on equity | 4.2% | 22.2% |
| Free cash flow | $300m | $295m |
| Cash | $204m | $165m |
| Total debt | $918m | $581m |
| Debt to equity | 72.1% | — |
| Dividend per share | — | $2.10 |
| Dividend yield | — | 1.1% |
| Share buybacks | $7.2m | $90.0m |
| Employees | — | 5,300 |
| Market value | $1.86bn | $6.77bn |
| Price vs our value range | Below our value range | Within our value range |
| Moat score | — | 75 (Strong) |
| Insider trades, 12 months | 0 buys, 0 sales | 1 buys, 4 sales |