MSA Safety
19 named things its latest annual report says its results depend on, each in the company's own words. 8 of them are also named by other companies we've read.
Customers
Distributors
earns from · over 1,800 authorized distributor locations worldwideIn our Americas segment, the majority of our sales are made through distribution.Business (Item 1)
Also named by AVGO, DXCM, MCHP, MTSI, MXL, ON, RMBS, ROK and 1 more
Government fire service and homeland security funding
earns fromnamed as a riskThe demand for our products and solutions sold to the fire service market, the homeland security market and other government customers is, in large part, driven by available government funding.Risk factors (Item 1A)
Energy market
earns fromnamed as a riskA portion of MSA's sales are made to customers in the energy market.Risk factors (Item 1A)
Suppliers
Sole-sourced components
depends onnamed as a riskIn certain cases, components could be sole sourced or otherwise not easily substituted due to the highly regulated or complex nature of our products.Risk factors (Item 1A)
Other companies
Revolving credit facility variable rate borrowings
exposed to its price · $285.3 millionnamed as a riskAt December 31, 2025, we had $285.3 million of variable rate borrowings under our revolving credit facility.Market risk (Item 7A)
MSA LLC divestiture indemnity (R&Q Insurance Holdings Ltd. and Obra Capital, Inc. joint venture)
named as a riskThe ability of MSA LLC and the Purchaser to honor their indemnity obligations is subject to commercial risk and, in addition, in the event of a dispute, the transaction, negotiated indemnities, and the extent of other legally available protections may be subject to future judicial interpretation.Risk factors (Item 1A)
M&C TechGroup
operates inIn 2025, we acquired M&C TechGroup and its affiliated companies ("M&C").Business (Item 1)
Places
Operations outside the United States
earns from · approximately 50% of our net salesnamed as a riskIn 2025, approximately 50% of our net sales were made by operations located outside the United States.Risk factors (Item 1A)
Also named by KO
China
operates innamed as a riskChanges in laws or policies governing the terms of foreign trade and, in particular, increased trade restrictions, tariffs or taxes on imports from countries where we manufacture products, such as China and Mexico, could have a material adverse effect on our business, consolidated results of operations and financial condition.Risk factors (Item 1A)
Also named by A, AA, AAOI, AAP, AAPL, AB, ADI, AEHR and 261 more
Mexico
operates innamed as a riskChanges in laws or policies governing the terms of foreign trade and, in particular, increased trade restrictions, tariffs or taxes on imports from countries where we manufacture products, such as China and Mexico, could have a material adverse effect on our business, consolidated results of operations and financial condition.Risk factors (Item 1A)
Also named by AAP, AME, AMRC, ANET, AOS, ARES, AYI, AZO and 83 more
Commodities and inputs
U.S. dollar exchange rate
exposed to its price · approximately $80.0 million and $9.6 million, or 4.3% and 3.4%named as a riskA hypothetical 10% strengthening or weakening of the U.S. dollar would increase or decrease our reported sales and net income for the year ended December 31, 2025, by approximately $80.0 million and $9.6 million, or 4.3% and 3.4%, respectively.Market risk (Item 7A)
Regulators
National Institute for Occupational Safety and Health (NIOSH)
subject toThese organizations include the National Institute for Occupational Safety and Health ("NIOSH"), the National Fire Protection Association ("NFPA"), American National Standards Institute ("ANSI"), International Safety Equipment Association ("ISEA") and their overseas counterparts.Business (Item 1)
National Fire Protection Association (NFPA)
subject toThese organizations include the National Institute for Occupational Safety and Health ("NIOSH"), the National Fire Protection Association ("NFPA"), American National Standards Institute ("ANSI"), International Safety Equipment Association ("ISEA") and their overseas counterparts.Business (Item 1)
Laws and programs
U.S. Foreign Corrupt Practices Act
subject tonamed as a risk•lack of effective compliance with MSA's anti-bribery policy, the U.S. Foreign Corrupt Practices Act, and similar anti-corruption and anti-bribery laws in the countries where the Company does business;Risk factors (Item 1A)
Also named by A, ADBE, ADP, AIR, AJG, ALB, AME, AMZN and 112 more
United States-Mexico-Canada Agreement (USMCA)
subject tonamed as a riskExisting free trade laws and regulations, such as the United States-Mexico-Canada Agreement, provide certain beneficial duties and tariffs for qualifying imports and exports, subject to compliance with the applicable classification and other requirements.Risk factors (Item 1A)
Also named by AYI, BMI, BWA, CLF, CMI, CP, CW, DCH and 29 more
OECD base erosion and profit shifting project
subject tonamed as a riskThe OECD has changed numerous long-standing tax principles through its base erosion and profit shifting project which could adversely impact our effective tax rate.Risk factors (Item 1A)
Technology
GRID and FireGRID connected platforms
depends onnamed as a riskThis also includes the systems that support and operate our GRID, FireGRID, and similar connected products and product platforms.Risk factors (Item 1A)
MSA trademark
Although our intellectual property plays an important role in maintaining our competitive position in a number of markets that we serve, no single patent, or patent application, trademark or license is, in our opinion, of such value to us that our business would be materially affected by the expiration or termination thereof, other than the “MSA” trademark.Business (Item 1)