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 $13.2B against $7.0B — 1.9× the size. Allegion PLC trades at the lower P/E: 20.5× against 22.2×. Allegion PLC grew revenue faster over the last twelve months: 10.6% against 6.48%. MSA Safety Incorporporated has the higher net margin (16.1% vs 15.4%) and the lower return on invested capital (14.4% vs 14.6%). Both pay a dividend; Allegion PLC yields more (1.38% vs 1.20%). Across the 23 metrics below, Allegion PLC leads on 12 and MSA Safety Incorporporated on 11.

Valuation

Metric ALLE MSA Security & Protection Services median
P/E 20.46 22.21 22.21
P/S 3.13 3.55 1.12
P/B 6.33 4.95 2.11
Price to free cash flow 19.99 19.51 20.05
EV/EBITDA 14.60 14.97 11.50
EV/Sales 3.53 3.75 2.08
Earnings yield 4.89% 4.50% 2.19%
Free cash flow yield 5.00% 5.12% 2.44%

Profitability

Metric ALLE MSA Security & Protection Services median
Gross margin 44.80% 47.57% 41.45%
Operating margin 20.83% 21.23% 8.06%
Net margin 15.36% 16.13% 3.11%
Free cash flow margin 15.65% 18.21% 1.45%
Return on equity 33.73% 23.72% 5.40%
Return on assets 12.82% 12.19% 1.07%
Return on invested capital 14.58% 14.40% 2.40%

Growth

Metric ALLE MSA Security & Protection Services median
Revenue growth (TTM) 10.63% 6.48% 6.22%
EPS growth (last fiscal year) 9.09% (1.66%) 29.52%
Revenue growth, 5-year CAGR 8.38% 6.82% 7.35%
Net income growth, 5-year CAGR 15.42% 17.60% 0.00%

Health

Metric ALLE MSA Security & Protection Services median
Debt to equity 0.96 0.42 0.20
Current ratio 1.93 3.24 1.93
Net debt to EBITDA 1.64 0.92 1.55

Dividend

Metric ALLE MSA Security & Protection Services median
Dividend yield 1.38% 1.20% 1.72%
Payout ratio 0.28 0.27 0.28

Size

Metric ALLE MSA Security & Protection Services median
Market cap 13.24b 7.01b 394.99m

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