MSA vs. TNC
MSA (MSA Safety Incorporated) and TNC (Tennant Company) are both stocks. Both are in the Industrials sector — MSA in Security & Protection Services, TNC in Specialty Industrial Machinery. Over the past 10 years, MSA returned 13.94%/yr vs 6.98%/yr for TNC. At a 0.36 correlation, their price movements are largely independent.
Performance
MSA vs. TNC - Performance Comparison
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Returns By Period
In the year-to-date period, MSA achieves a 2.16% return, which is significantly lower than TNC's 21.03% return. Over the past 10 years, MSA has outperformed TNC with an annualized return of 13.94%, while TNC has yielded a comparatively lower 6.98% annualized return.
MSA
- 1D
- -0.79%
- 1M
- -4.85%
- YTD
- 2.16%
- 6M
- 1.19%
- 1Y
- -1.05%
- 3Y*
- 1.26%
- 5Y*
- 1.22%
- 10Y*
- 13.94%
TNC
- 1D
- -1.90%
- 1M
- 5.82%
- YTD
- 21.03%
- 6M
- 18.43%
- 1Y
- 17.42%
- 3Y*
- 5.12%
- 5Y*
- 3.27%
- 10Y*
- 6.98%
MSA vs. TNC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MSA MSA Safety Incorporated | 2.16% | -2.14% | -0.71% | 18.52% | -3.15% | 2.14% | 19.79% | 36.10% | 23.61% | 13.97% |
TNC Tennant Company | 21.03% | -8.22% | -11.03% | 52.62% | -22.84% | 16.87% | -8.78% | 51.57% | -27.40% | 3.32% |
Correlation
The correlation between MSA and TNC is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.52 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.50 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.53 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.51 |
Correlation (All Time) Calculated using the full available price history since Mar 3, 1992 | 0.36 |
The correlation between MSA and TNC shifts across timeframes, from 0.36 (all time) to 0.53 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
MSA:
$9.85
TNC:
$1.69
MSA:
16.51
TNC:
52.39
MSA:
2.50
TNC:
1.34
MSA:
$1.92B
TNC:
$1.21B
MSA:
$897.30M
TNC:
$477.90M
MSA:
$465.55M
TNC:
$97.00M
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Return for Risk
MSA vs. TNC — Risk / Return Rank
MSA
TNC
MSA vs. TNC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MSA Safety Incorporated (MSA) and Tennant Company (TNC). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| MSA | TNC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.54 | ||
| Sortino ratioReturn per unit of downside risk | -0.69 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.14 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | -0.05 | 0.63 | -0.68 |
| Martin ratioReturn relative to average drawdown | -0.10 | 1.66 | -1.76 |
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Drawdowns
MSA vs. TNC - Drawdown Comparison
The maximum MSA drawdown since its inception was -70.32%, smaller than the maximum TNC drawdown of -83.81%. Use the drawdown chart below to compare losses from any high point for MSA and TNC.
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Drawdown Indicators
| MSA | TNC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.32% | -83.81% | +13.49% |
Max Drawdown (1Y)Largest decline over 1 year | -22.60% | -27.71% | +5.11% |
Max Drawdown (3Y)Largest decline over 3 years | -34.28% | -48.98% | +14.70% |
Max Drawdown (5Y)Largest decline over 5 years | -34.28% | -48.98% | +14.70% |
Max Drawdown (10Y)Largest decline over 10 years | -38.39% | -48.98% | +10.59% |
Current DrawdownCurrent decline from peak | -19.44% | -25.66% | +6.22% |
Average DrawdownAverage peak-to-trough decline | -17.44% | -16.87% | -0.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.58% | 10.50% | +0.08% |
Volatility
MSA vs. TNC - Volatility Comparison
The current volatility for MSA Safety Incorporated (MSA) is 6.97%, while Tennant Company (TNC) has a volatility of 8.60%. This indicates that MSA experiences smaller price fluctuations and is considered to be less risky than TNC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MSA | TNC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.97% | 8.60% | -1.63% |
Volatility (6M)Calculated over the trailing 6-month period | 17.82% | 33.29% | -15.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.19% | 35.66% | -11.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.73% | 29.52% | -4.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.70% | 32.17% | -3.47% |
Dividends
MSA vs. TNC - Dividend Comparison
MSA's dividend yield for the trailing twelve months is around 1.31%, less than TNC's 1.39% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MSA MSA Safety Incorporated | 1.31% | 1.31% | 1.21% | 1.11% | 1.26% | 1.16% | 1.14% | 1.30% | 1.58% | 1.78% | 1.89% | 2.92% |
TNC Tennant Company | 1.39% | 1.62% | 1.39% | 1.16% | 1.65% | 1.16% | 1.27% | 1.13% | 1.63% | 1.16% | 1.14% | 1.42% |
Financials
MSA vs. TNC - Financials Comparison
This section allows you to compare key financial metrics between MSA Safety Incorporated and Tennant Company. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
MSA vs. TNC - Profitability Comparison
MSA - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, MSA Safety Incorporated reported a gross profit of 219.58M and revenue of 463.63M. Therefore, the gross margin over that period was 47.4%.
TNC - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Tennant Company reported a gross profit of 113.60M and revenue of 297.90M. Therefore, the gross margin over that period was 38.1%.
MSA - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, MSA Safety Incorporated reported an operating income of 93.01M and revenue of 463.63M, resulting in an operating margin of 20.1%.
TNC - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Tennant Company reported an operating income of 4.90M and revenue of 297.90M, resulting in an operating margin of 1.6%.
MSA - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, MSA Safety Incorporated reported a net income of 71.27M and revenue of 463.63M, resulting in a net margin of 15.4%.
TNC - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Tennant Company reported a net income of 200.00K and revenue of 297.90M, resulting in a net margin of 0.1%.
Frequently Asked Questions
MSA and TNC have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TNC has higher volatility (8.60%) compared to MSA (6.97%). In terms of maximum drawdown, MSA dropped -70.32% vs TNC's -83.81%.
TNC currently has the higher Sharpe Ratio (0.49 vs -0.04), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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