Is MSA Safety, Inc. overvalued or undervalued?

As of 17 October 2025, the valuation grade for MSA Safety, Inc. has moved from very expensive to fair. The company appears fairly valued based on its current metrics. Key ratios include a P/E ratio of 36, an EV to EBITDA of 22.81, and a Price to Book Value of 8.63. In comparison, a peer like MSA Safety, Inc. has a higher P/E of 38.57, indicating that while MSA is fairly valued, its peers may be more expensive.
Despite the fair valuation, MSA Safety, Inc. has underperformed relative to the S&P 500 across multiple periods, with a year-to-date return of -0.42% compared to the S&P 500's 13.30%. This trend continues over the longer term, with a 1-year return of -4.79% against the S&P 500's 14.08%, suggesting that while the stock is fairly valued, it may face challenges in delivering competitive returns.