Allegion PLC (ALLE) vs MSA Safety Incorporporated (MSA)

Allegion PLC and MSA Safety Incorporporated are both Security & Protection Services companies. Allegion PLC is the larger, with a market value of $15.8B against $6.6B — 2.4× the size. MSA Safety Incorporporated trades at the lower P/E: 21.8× against 23.2×. Allegion PLC grew revenue faster over the last twelve months: 10.3% against 8.09%. Allegion PLC has the higher net margin (15.7% vs 15.0%) and the higher return on invested capital (15.5% vs 10.9%). Both pay a dividend; MSA Safety Incorporporated yields more (1.26% vs 1.15%). Across the 23 metrics below, MSA Safety Incorporporated leads on 14 and Allegion PLC on 9.

Valuation

Metric ALLE MSA Security & Protection Services median
P/E 23.25 21.81 22.53
P/S 3.62 3.25 1.17
P/B 7.31 4.58 2.09
Price to free cash flow 21.48 20.35 19.49
EV/EBITDA 16.14 15.33 11.17
EV/Sales 3.99 3.70 1.97
Earnings yield 4.30% 4.59% 3.26%
Free cash flow yield 4.66% 4.91% 1.46%

Profitability

Metric ALLE MSA Security & Protection Services median
Gross margin 45.09% 47.29% 38.10%
Operating margin 21.50% 20.21% 9.80%
Net margin 15.74% 15.03% 2.88%
Free cash flow margin 16.85% 15.99% 0.00%
Return on equity 33.56% 22.18% 8.74%
Return on assets 12.93% 10.38% 1.21%
Return on invested capital 15.46% 10.90% 1.98%

Growth

Metric ALLE MSA Security & Protection Services median
Revenue growth (TTM) 10.33% 8.09% 7.23%
EPS growth (last fiscal year) 9.09% (1.66%) 35.69%
Revenue growth, 5-year CAGR 8.38% 6.82% 7.09%
Net income growth, 5-year CAGR 15.42% 17.60% 0.00%

Health

Metric ALLE MSA Security & Protection Services median
Debt to equity 0.94 0.76 0.20
Current ratio 1.90 2.65 1.92
Net debt to EBITDA 1.64 0.92 1.55

Dividend

Metric ALLE MSA Security & Protection Services median
Dividend yield 1.15% 1.26% 1.65%
Payout ratio 0.27 0.28 0.28

Size

Metric ALLE MSA Security & Protection Services median
Market cap 15.78b 6.55b 408.73m

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