TNC vs. MSA
TNC (Tennant Company) and MSA (MSA Safety Incorporated) are both stocks. Both are in the Industrials sector — TNC in Specialty Industrial Machinery, MSA in Security & Protection Services. Over the past 10 years, TNC returned 6.06%/yr vs 13.97%/yr for MSA. At a 0.36 correlation, their price movements are largely independent.
Performance
TNC vs. MSA - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, TNC achieves a 17.46% return, which is significantly higher than MSA's 2.54% return. Over the past 10 years, TNC has underperformed MSA with an annualized return of 6.06%, while MSA has yielded a comparatively higher 13.97% annualized return.
TNC
- 1D
- 0.18%
- 1M
- 4.05%
- YTD
- 17.46%
- 6M
- 19.57%
- 1Y
- 20.40%
- 3Y*
- 4.98%
- 5Y*
- 2.07%
- 10Y*
- 6.06%
MSA
- 1D
- 0.09%
- 1M
- -1.21%
- YTD
- 2.54%
- 6M
- -0.08%
- 1Y
- 2.12%
- 3Y*
- 5.79%
- 5Y*
- 0.55%
- 10Y*
- 13.97%
TNC vs. MSA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TNC Tennant Company | 17.46% | -8.22% | -11.03% | 52.62% | -22.84% | 16.87% | -8.78% | 51.57% | -27.40% | 3.32% |
MSA MSA Safety Incorporated | 2.54% | -2.14% | -0.71% | 18.52% | -3.15% | 2.14% | 19.79% | 36.10% | 23.61% | 13.97% |
Correlation
The correlation between TNC and MSA is 0.54, 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 | 0.54 |
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 4, 1992 | 0.36 |
The correlation between TNC and MSA shifts across timeframes, from 0.36 (all time) to 0.54 (1 year), reflecting how their relationship changes across market environments.
Fundamentals
TNC:
$1.69
MSA:
$9.85
TNC:
50.85
MSA:
16.57
TNC:
1.30
MSA:
2.51
TNC:
$1.21B
MSA:
$1.92B
TNC:
$477.90M
MSA:
$897.30M
TNC:
$97.00M
MSA:
$465.55M
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
TNC vs. MSA — Risk / Return Rank
TNC
MSA
TNC vs. MSA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Tennant Company (TNC) and MSA Safety Incorporated (MSA). 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.
| TNC | MSA | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.58 | 0.09 | +0.49 |
Sortino ratioReturn per unit of downside risk | 0.89 | 0.30 | +0.59 |
Omega ratioGain probability vs. loss probability | 1.16 | 1.04 | +0.12 |
Calmar ratioReturn relative to maximum drawdown | 0.62 | 0.07 | +0.55 |
Martin ratioReturn relative to average drawdown | 1.64 | 0.15 | +1.49 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| TNC | MSA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.58 | 0.09 | +0.49 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.07 | 0.02 | +0.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.19 | 0.49 | -0.30 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.23 | 0.34 | -0.11 |
Drawdowns
TNC vs. MSA - Drawdown Comparison
The maximum TNC drawdown since its inception was -83.81%, which is greater than MSA's maximum drawdown of -70.32%. Use the drawdown chart below to compare losses from any high point for TNC and MSA.
Loading charts...
Drawdown Indicators
| TNC | MSA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -83.81% | -70.32% | -13.49% |
Max Drawdown (1Y)Largest decline over 1 year | -27.71% | -20.67% | -7.04% |
Max Drawdown (3Y)Largest decline over 3 years | -48.98% | -34.28% | -14.70% |
Max Drawdown (5Y)Largest decline over 5 years | -48.98% | -35.09% | -13.89% |
Max Drawdown (10Y)Largest decline over 10 years | -48.98% | -38.39% | -10.59% |
Current DrawdownCurrent decline from peak | -27.85% | -19.14% | -8.71% |
Average DrawdownAverage peak-to-trough decline | -16.85% | -17.44% | +0.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.50% | 9.46% | +1.04% |
Volatility
TNC vs. MSA - Volatility Comparison
Tennant Company (TNC) has a higher volatility of 9.54% compared to MSA Safety Incorporated (MSA) at 7.45%. This indicates that TNC's price experiences larger fluctuations and is considered to be riskier than MSA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| TNC | MSA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.54% | 7.45% | +2.09% |
Volatility (6M)Calculated over the trailing 6-month period | 32.82% | 17.54% | +15.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 35.34% | 23.85% | +11.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.39% | 24.70% | +4.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.15% | 28.77% | +3.38% |
Dividends
TNC vs. MSA - Dividend Comparison
TNC's dividend yield for the trailing twelve months is around 1.43%, more than MSA's 1.30% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MSA MSA Safety Incorporated | 1.30% | 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 | 1.43% | 1.62% | 1.39% | 1.16% | 1.65% | 1.16% | 1.27% | 1.13% | 1.63% | 1.16% | 1.14% | 1.42% |
Financials
TNC vs. MSA - Financials Comparison
This section allows you to compare key financial metrics between Tennant Company and MSA Safety Incorporated. 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
TNC vs. MSA - Profitability Comparison
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 - 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 - 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 - 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 - 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%.
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%.
Frequently Asked Questions
TNC and MSA have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TNC has higher volatility (9.54%) compared to MSA (7.45%). In terms of maximum drawdown, TNC dropped -83.81% vs MSA's -70.32%.
TNC currently has the higher Sharpe Ratio (0.58 vs 0.09), 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.
Find the right allocation for TNC and MSA
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer