MSA Safety (MSA)

Net profit margin

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Net income (ttm)	US$ in thousands	284,967	273,431	272,039	266,895	58,583	33,662	13,294	-6,121	179,580	66,615	42,894	20,387	21,285	95,099	101,944	112,798	120,003	138,791	152,920	156,645
Revenue (ttm)	US$ in thousands	1,808,140	1,803,802	1,817,851	1,802,687	1,787,647	1,735,543	1,670,509	1,595,523	1,527,953	1,494,967	1,453,470	1,422,446	1,400,182	1,378,162	1,342,357	1,315,506	1,348,223	1,335,230	1,381,852	1,417,089
Net profit margin		15.76%	15.16%	14.96%	14.81%	3.28%	1.94%	0.80%	-0.38%	11.75%	4.46%	2.95%	1.43%	1.52%	6.90%	7.59%	8.57%	8.90%	10.39%	11.07%	11.05%

December 31, 2024 calculation

Net profit margin = Net income (ttm) ÷ Revenue (ttm)
= $284,967K ÷ $1,808,140K
= 15.76%

The net profit margin of MSA Safety has shown fluctuations over the periods provided. From March 31, 2020 to June 30, 2020, the net profit margin remained relatively stable around 11%. There was a slight decline to 10.39% by September 30, 2020, and a more significant drop to 8.90% by December 31, 2020.

The trend of decreasing profitability continued into 2021, with the net profit margin falling to 8.57% by March 31, and further declining to 7.59% by June 30. The decrease accelerated with a net profit margin of 6.90% by September 30, 2021.

However, the trend reversed in the latter part of 2022, with the net profit margin increasing to 11.75% by December 31. In the subsequent periods, there were fluctuations but generally an upward trend, reaching 15.76% by December 31, 2024.

The negative net profit margin of -0.38% on March 31, 2023, is a cause for concern and requires further investigation to understand the underlying factors. Overall, the recent increase in net profit margin indicates an improvement in profitability for MSA Safety.