MSA Safety (MSA)

Financial leverage ratio

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Total assets	US$ in thousands	2,170,150	2,376,980	2,396,400	1,919,630	1,781,800
Total stockholders’ equity	US$ in thousands	966,802	923,741	834,388	839,201	725,800
Financial leverage ratio		2.24	2.57	2.87	2.29	2.45

December 31, 2023 calculation

Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $2,170,150K ÷ $966,802K
= 2.24

The financial leverage ratio of MSA Safety Inc has seen fluctuations over the past five years. The ratio decreased from 2.40 in 2019 to 2.34 in 2020, indicating a reduction in financial leverage. However, from 2020 to 2021, there was a significant increase in the ratio to 2.87, signifying higher financial leverage. In 2022, the ratio decreased to 2.57 but remained relatively high compared to the 2020 level. By the end of 2023, the financial leverage ratio further decreased to 2.24, suggesting a lower level of financial leverage compared to the previous year. Overall, the trend in the financial leverage ratio of MSA Safety Inc indicates fluctuations in the company's debt levels and financial risk over the past five years.