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

MSA Safety brought in $1.9B of revenue in fiscal 2025, STERIS $5.9B in fiscal 2026. Revenue changed by +3.7% at MSA Safety and +8.7% at STERIS on the year before, so STERIS grew faster. MSA Safety kept 14.9% of its revenue as net profit, STERIS 13.2%. Free cash flow was $295.4M at MSA Safety and $972.4M at STERIS.

Side by side, latest fiscal year

MSASTE
Fiscal year endedFY2025 (December 31, 2025)FY2026 (March 31, 2026)
Revenue$1.9B$5.9B
Revenue growth+3.7%+8.7%
Net income$278.9M$782.3M
Net margin14.9%13.2%
Free cash flow$295.4M$972.4M
Free cash flow margin15.8%16.4%
Earnings per share (diluted)$7.09$7.93
Cash$165.1M$439.6M
Debt$580.9M$1.8B
Price to earnings25.726.6
Market value$7B$20.6B
Dividend yield1.15%1.17%
Rank by revenue in sector#120 of 742 · Health care#58 of 742 · Health care

Over the years

Revenue
MSA FY2018: $1.4BMSA FY2019: $1.4BMSA FY2020: $1.3BMSA FY2021: $1.4BMSA FY2022: $1.5BMSA FY2023: $1.8BMSA FY2024: $1.8BMSA FY2025: $1.9BSTE FY2019: $2.8BSTE FY2020: $3BSTE FY2021: $3.1BSTE FY2022: $4.2BSTE FY2023: $4.5BSTE FY2024: $5.1BSTE FY2025: $5.5BSTE FY2026: $5.9BFY18FY19FY20FY21FY22FY23FY24FY25FY26
MSA $1.9BSTE $5.9B
Net income
MSA FY2018: $124.2MMSA FY2019: $138MMSA FY2020: $124.1MMSA FY2021: $21.3MMSA FY2022: $179.6MMSA FY2023: $58.6MMSA FY2024: $285MMSA FY2025: $278.9MSTE FY2019: $303.7MSTE FY2020: $407.7MSTE FY2021: $397.4MSTE FY2022: $243.9MSTE FY2023: $107MSTE FY2024: $378.2MSTE FY2025: $614.6MSTE FY2026: $782.3MFY18FY19FY20FY21FY22FY23FY24FY25FY26
MSA $278.9MSTE $782.3M
Net margin
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%STE FY2019: 10.9%STE FY2020: 13.5%STE FY2021: 12.8%STE FY2022: 5.8%STE FY2023: 2.4%STE FY2024: 7.4%STE FY2025: 11.3%STE FY2026: 13.2%FY18FY19FY20FY21FY22FY23FY24FY25FY26
MSA 14.9%STE 13.2%
Revenue growth
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%STE FY2020: +8.9%STE FY2021: +2.5%STE FY2022: +35.9%STE FY2023: +7.4%STE FY2024: +13.3%STE FY2025: +6.2%STE FY2026: +8.7%FY19FY20FY21FY22FY23FY24FY25FY26
MSA +3.7%STE +8.7%
Free cash flow
MSA FY2018: $229.9MMSA FY2019: $128.4MMSA FY2020: $157.7MMSA FY2021: $155.3MMSA FY2022: $114.9MMSA FY2023: $50.1MMSA FY2024: $242.2MMSA FY2025: $295.4MSTE FY2019: $349.8MSTE FY2020: $376MSTE FY2021: $450.4MSTE FY2022: $397.2MSTE FY2023: $395MSTE FY2024: $613MSTE FY2025: $778MSTE FY2026: $972.4MFY18FY19FY20FY21FY22FY23FY24FY25FY26
MSA $295.4MSTE $972.4M

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

Questions about MSA Safety and STERIS

Which is bigger by revenue, MSA Safety or STERIS?

STERIS is bigger by revenue: $5.9B in fiscal 2026, against $1.9B for MSA Safety in fiscal 2025.

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

MSA Safety had a net margin of 14.9% in fiscal 2025; STERIS had 13.2% in fiscal 2026.

Which grew revenue faster, MSA Safety or STERIS?

In their latest fiscal years revenue changed by +3.7% at MSA Safety and +8.7% at STERIS.

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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