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Enovis vs MSA Safety: revenue, profit, margins and growth compared

Enovis brought in $2.2B of revenue in fiscal 2025, MSA Safety $1.9B in fiscal 2025. Revenue changed by +6.7% at Enovis and +3.7% at MSA Safety on the year before, so Enovis grew faster. Enovis kept -52.7% of its revenue as net profit, MSA Safety 14.9%. Free cash flow was $19.9M at Enovis and $295.4M at MSA Safety.

Side by side, latest fiscal year

ENOVMSA
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$2.2B$1.9B
Revenue growth+6.7%+3.7%
Net income-$1.2B$278.9M
Net margin-52.7%14.9%
Free cash flow$19.9M$295.4M
Free cash flow margin0.9%15.8%
Earnings per share (diluted)-$20.75$7.09
Cash$36.4M$165.1M
Debt$1.3B$580.9M
Price to earningsn/a24.4
Market value$1.6B$6.7B
Dividend yieldn/a1.21%
Rank by revenue in sector#108 of 751 · Health care#120 of 751 · Health care

Over the years

Revenue
ENOV FY2018: $3.7BENOV FY2019: $3.3BENOV FY2020: $1.1BENOV FY2021: $1.4BENOV FY2022: $1.6BENOV FY2023: $1.7BENOV FY2024: $2.1BENOV FY2025: $2.2BMSA FY2018: $1.4BMSA FY2019: $1.4BMSA FY2020: $1.3BMSA FY2021: $1.4BMSA FY2022: $1.5BMSA FY2023: $1.8BMSA FY2024: $1.8BMSA FY2025: $1.9BFY18FY19FY20FY21FY22FY23FY24FY25
ENOV $2.2BMSA $1.9B
Net income
ENOV FY2018: $140.2MENOV FY2019: -$527.6MENOV FY2020: $42.6MENOV FY2021: $71.7MENOV FY2022: -$13.3MENOV FY2023: -$33.3MENOV FY2024: -$825.5MENOV FY2025: -$1.2BMSA FY2018: $124.2MMSA FY2019: $138MMSA FY2020: $124.1MMSA FY2021: $21.3MMSA FY2022: $179.6MMSA FY2023: $58.6MMSA FY2024: $285MMSA FY2025: $278.9MFY18FY19FY20FY21FY22FY23FY24FY25
ENOV -$1.2BMSA $278.9M
Net margin
ENOV FY2018: 3.8%ENOV FY2019: -15.9%ENOV FY2020: 3.8%ENOV FY2021: 5.0%ENOV FY2022: -0.9%ENOV FY2023: -1.9%ENOV FY2024: -39.2%ENOV FY2025: -52.7%MSA FY2018: 9.1%MSA FY2019: 9.8%MSA FY2020: 9.2%MSA FY2021: 1.5%MSA FY2022: 11.8%MSA FY2023: 3.3%MSA FY2024: 15.8%MSA FY2025: 14.9%FY18FY19FY20FY21FY22FY23FY24FY25
ENOV -52.7%MSA 14.9%
Revenue growth
ENOV FY2019: -9.3%ENOV FY2020: -66.3%ENOV FY2021: +27.3%ENOV FY2022: +9.6%ENOV FY2023: +9.2%ENOV FY2024: +23.5%ENOV FY2025: +6.7%MSA FY2019: +3.2%MSA FY2020: -3.8%MSA FY2021: +3.9%MSA FY2022: +9.1%MSA FY2023: +17.0%MSA FY2024: +1.1%MSA FY2025: +3.7%FY19FY20FY21FY22FY23FY24FY25
ENOV +6.7%MSA +3.7%
Free cash flow
ENOV FY2018: $156.7MENOV FY2019: $5.5MENOV FY2020: $187.2MENOV FY2021: $251.9MENOV FY2022: -$161.3MENOV FY2023: $12.8MENOV FY2024: -$67.2MENOV FY2025: $19.9MMSA FY2018: $229.9MMSA FY2019: $128.4MMSA FY2020: $157.7MMSA FY2021: $155.3MMSA FY2022: $114.9MMSA FY2023: $50.1MMSA FY2024: $242.2MMSA FY2025: $295.4MFY18FY19FY20FY21FY22FY23FY24FY25
ENOV $19.9MMSA $295.4M

Fiscal years as each company reports them; the two may end in different months.

Questions about Enovis and MSA Safety

Which is bigger by revenue, Enovis or MSA Safety?

Enovis is bigger by revenue: $2.2B in fiscal 2025, against $1.9B for MSA Safety in fiscal 2025.

Which keeps more of its revenue as profit, Enovis or MSA Safety?

Enovis had a net margin of -52.7% in fiscal 2025; MSA Safety had 14.9% in fiscal 2025.

Which grew revenue faster, Enovis or MSA Safety?

In their latest fiscal years revenue changed by +6.7% at Enovis and +3.7% at MSA Safety.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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