MSA
MSA Safety Incorporated
MSA has the edge over RDW overall, supported by lower modeled downside and stronger valuation.
RDW
Redwire Corporation
RDW offers stronger fundamentals, but that advantage does not outweigh its weaker overall profile.
MSA Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Strong | |
| Stable |
MSA's revenue, profitability and cash flow are currently healthy, and its balance sheet is stable.
RDW Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Under pressure | |
| Under pressure | |
| Unavailable |
RDW's revenue is currently healthy, but its profitability and cash flow are under pressure. There isn't enough data to rate its balance sheet.
MSA PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 18x | $175 | — |
| Current | 22x | $175 | — |
| Cheap | 24x | $183 | +5% |
| Fair | 36x | $276 | +58% |
| Expensive | 127x | $988 | +466% |
Historical ranges are pointers, not guarantees.
MSA's PE is in its cheap range at 22x. If earnings grow as analysts expect, today's price would be 18x next year's earnings.
RDW PE Valuation
RDW has no meaningful PE right now: it lost money over the past year.
MSA Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Growth | |
| Growth | |
| Improving | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for MSA, with profitability improving.
RDW Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect RDW's losses to shrink, with revenue growing.
MSA Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $9.72 | +25% |
| Q3 2026 | $7.78 | +9.7% |
| Q2 2026 | $8.04 | +15% |
| Q1 2026 | $7.40 | +2.1% |
| Q4 2025 | $7.08 | -1.8% |
| Q3 2025 | $7.09 | +2.5% |
| Q2 2025 | $7.01 | +1.9% |
| Q1 2025 | $7.25 | +7.4% |
| Q4 2024 | $7.21 | +397% |
MSA has the edge over RDW on earnings quality, reporting a profit while its opponent remains loss making.
RDW Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$1.17 | +$2.01 |
| Q2 2026 | -$1.37 | +$1.89 |
| Q1 2026 | -$2.59 | -$0.32 |
| Q4 2025 | -$2.28 | +$0.07 |
| Q3 2025 | -$3.18 | -$1.97 |
| Q2 2025 | -$3.26 | -$2.28 |
| Q1 2025 | -$2.27 | -$1.55 |
| Q4 2024 | -$2.35 | -$1.62 |
RDW is still losing money, but far less than before: $1.17 per share over the past year, against $3.26 at its worst in mid-2025.
MSA Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $536.4M | +15% |
| Q2 2026 | $503.3M | +6.2% |
| Q1 2026 | $463.6M | +10% |
| Q4 2025 | $510.9M | +2.2% |
| Q3 2025 | $468.4M | +8.3% |
| Q2 2025 | $474.1M | +2.5% |
| Q1 2025 | $421.3M | +1.9% |
| Q4 2024 | $499.7M | +0.9% |
MSA's revenue has grown year over year for eight quarters in a row: $536M last quarter, up 15% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 16% | -3.7 points |
| Q2 2026 | 22% | +4.1 points |
| Q1 2026 | 20% | +1.6 points |
| Q4 2025 | 22% | -1.3 points |
| Q3 2025 | 20% | -1 points |
| Q2 2025 | 18% | -3.5 points |
| Q1 2025 | 18% | -0.9 points |
| Q4 2024 | 24% | +2.9 points |
MSA has the edge over RDW on profitability, with a higher operating margin.
RDW Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $109M | +5.4% |
| Q2 2026 | $117.1M | +90% |
| Q1 2026 | $97M | +58% |
| Q4 2025 | $108.8M | +56% |
| Q3 2025 | $103.4M | +51% |
| Q2 2025 | $61.8M | -21% |
| Q1 2025 | $61.4M | -30% |
| Q4 2024 | $69.6M | +9.6% |
RDW's revenue has grown year over year for five quarters in a row: $109M last quarter, up 5.4% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -24% | +16 points |
| Q2 2026 | -19% | +130 points |
| Q1 2026 | -72% | -49 points |
| Q4 2025 | -75% | -48 points |
| Q3 2025 | -40% | -22 points |
| Q2 2025 | -149% | -140 points |
| Q1 2025 | -23% | -19 points |
| Q4 2024 | -27% | -17 points |
RDW's operating margin was −24% last quarter, up 16 points from the same quarter a year ago.
MSA Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $68.2M | -32% |
| Q2 2026 | $82.7M | +118% |
| Q1 2026 | $65.1M | +28% |
| Q4 2025 | $106M | +13% |
| Q3 2025 | $100.5M | +43% |
| Q2 2025 | $37.9M | -2.8% |
| Q1 2025 | $51M | +29% |
| Q4 2024 | $93.5M | -36% |
MSA has the edge over RDW on cash generation, producing positive trailing cash flow while its opponent burns cash.
RDW Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$65.3M | -$38.5M |
| Q2 2026 | -$33.5M | +$57.2M |
| Q1 2026 | -$11.4M | +$35.5M |
| Q4 2025 | -$26.5M | -659% |
| Q3 2025 | -$26.9M | -$7.6M |
| Q2 2025 | -$90.6M | -$80.2M |
| Q1 2025 | -$46.9M | -3996% |
| Q4 2024 | $4.7M | -65% |
RDW has burned cash in most quarters: −$137M over the past year, against −$160M the year before.
MSA Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.1% | -50K shares |
| 1 year | -1.6% | -633K shares |
| 3 years | -2% | -803K shares |
| 5 years | -2% | -783K shares |
| Available history | -1.4% | -542K shares |
MSA has the edge over RDW on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $12.9M |
| Q2 2026 | $26M |
| Q1 2026 | $60.4M |
| Q4 2025 | $39.9M |
| Q3 2025 | $1.2M |
| Q2 2025 | $30.5M |
| Q1 2025 | $18.3M |
| Q4 2024 | $9.9M |
MSA spent $139M buying back its own shares over the past year, up 132% from the year before.
RDW Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +13% | +29.6M shares |
| 1 year | +179% | +160M shares |
| 3 years | +289% | +186M shares |
| 5 years | +319% | +190M shares |
RDW has 250M diluted shares, up 179% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2020 | — |
| Q2 2020 | — |
| Q1 2020 | — |
MSA Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.9x | Healthy |
| Q2 2026 | 0.8x | Very low |
| Q1 2026 | 0.9x | Very low |
| Q4 2025 | 0.9x | Very low |
| Q3 2025 | 1.0x | Healthy |
| Q2 2025 | 1.2x | Healthy |
| Q1 2025 | 0.7x | Very low |
| Q4 2024 | 0.8x | Very low |
MSA's net debt is about 1.9 years of its operating earnings (EBITDA), up from a year a year ago.
RDW Net Leverage
RDW's operating earnings (EBITDA) were negative over the past year, so its debt can't be measured against them.
MSA Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 46.4 | Neutral |
| Stochastic | 19.5 | Oversold |
MSA's weekly RSI is 46 (neutral) and its Stochastic is 20 (oversold).
RDW Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 42.3 | Neutral |
| Stochastic | 16.1 | Oversold |
RDW's weekly RSI is 42 (neutral) and its Stochastic is 16 (oversold).
MSA PE vs Industrials Sector
| Metric | MSA | Sector median | Relative |
|---|---|---|---|
| PE | 22x | 24x | 6.8% below |
| PE % | 8 | 58 | 50 pts below |
MSA is trading at 22x earnings, in line with the Industrials sector's median of 24x.
RDW PE vs Industrials Sector
RDW has no meaningful PE right now: it lost money over the past year.
MSA Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $178.6 | 2.3% below |
| 20 week MA | $181.0 | 3.5% below |
| 50 week MA | $176.3 | 0.9% below |
| 100 week MA | $169.6 | 3% above |
| 200 week MA | $168.1 | 3.9% above |
MSA has the edge over RDW on trend strength, trading above more of its moving averages.
RDW Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $9.06 | 11% below |
| 20 week MA | $10.1 | 20% below |
| 50 week MA | $10.6 | 24% below |
| 100 week MA | $11.6 | 31% below |
| 200 week MA | $8.07 | 0.5% below |
RDW is in a downtrend: it's below all five of its weekly moving averages, and 0.5% below its 200-week average.
MSA Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $127.4 | $149.0 | +17% |
| 2021 | $149.0 | $147.2 | -1.2% |
| 2022 | $147.2 | $140.7 | -4.4% |
| 2023 | $140.7 | $168.8 | +20% |
| 2024 | $168.8 | $167.2 | -1% |
| 2025 | $167.2 | $163.9 | -2% |
| 2026 YTD | $163.9 | $174.6 | +6.6% |
MSA has finished lower in four of the last six years. It's up 6.6% so far in 2026.
RDW Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2021 | $10.2 | $7.34 | -28% |
| 2022 | $7.34 | $1.92 | -74% |
| 2023 | $1.92 | $2.85 | +48% |
| 2024 | $2.85 | $17.1 | +501% |
| 2025 | $17.1 | $7.15 | -58% |
| 2026 YTD | $7.15 | $8.03 | +12% |
RDW has the edge over MSA on returns for 2026, with the stronger performance.