MSA Safety (MSA)

Financial leverage ratio

		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
Total assets	US$ in thousands	2,205,780	2,241,930	2,243,570	2,174,330	2,170,150	2,194,340	2,199,150	2,179,670	2,376,980	2,387,290	2,408,450	2,415,780	2,396,400	2,259,450	1,963,230	1,942,760	1,872,480	1,792,660	1,752,940	1,730,930
Total stockholders’ equity	US$ in thousands	1,143,320	1,095,340	1,033,650	994,754	966,802	868,726	831,131	769,746	923,741	842,415	838,070	860,907	834,388	824,177	848,768	814,676	809,891	780,103	748,654	712,596
Financial leverage ratio		1.93	2.05	2.17	2.19	2.24	2.53	2.65	2.83	2.57	2.83	2.87	2.81	2.87	2.74	2.31	2.38	2.31	2.30	2.34	2.43

December 31, 2024 calculation

Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $2,205,780K ÷ $1,143,320K
= 1.93

The financial leverage ratio of MSA Safety has shown some fluctuations over the years, indicating changes in the company's debt levels relative to its equity. The ratio decreased from 2.43 as of March 31, 2020, to 2.05 as of September 30, 2024.

During this period, the ratio experienced both increases and decreases, reaching a peak of 2.87 as of December 31, 2021. However, it later dropped to 1.93 by December 31, 2024, indicating a decrease in the company's reliance on debt to finance its operations compared to its equity.

Overall, the trend suggests that MSA Safety has been managing its debt levels effectively, with a gradual reduction in the financial leverage ratio over the years, potentially enhancing the company's financial stability and decreasing its financial risk.