Is MSA Safety, Inc. overvalued or undervalued?

As of 7 November 2025, the valuation grade for MSA Safety, Inc. moved from fair to very attractive, indicating a significant improvement in its perceived value. The company appears undervalued, particularly when considering its P/E ratio of 36 compared to a peer average of approximately 38.57, an EV to EBITDA of 22.81, and a strong ROCE of 26.27%. Additionally, its Price to Book Value stands at 8.63, which is noteworthy in the context of its industry.
In comparison to peers, MSA Safety, Inc. has a higher P/E ratio than its closest competitor, which has a P/E of 23.90, suggesting that the market may not fully recognize its growth potential. The stock has underperformed against the S&P 500 in the short term, with a 1-year return of -8.06% compared to the index's 12.65%, but it has shown resilience over longer periods, with a 3-year return of 18.23% versus 76.76% for the S&P 500. This mixed performance reinforces the notion that MSA Safety, Inc. may be undervalued relative to its growth prospects and industry benchmarks.