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MSA Safety vs Cadre Holdings: MSA and CDRE compared
MSA Safety is the larger company: $536M of revenue in its latest quarter (Q3 2026) against $203M for Cadre Holdings (Q3 2026). Cadre Holdings is growing faster (+30% against +14% a year earlier). MSA Safety is more profitable, with an operating margin of 16.4% against 14.0%.
Where the money goes: MSA and CDRE
MSA Safety (MSA) · Q3 2026
MSA Safety, Q3 2026: revenue $536M (+14% year over year), operating margin 16.4%, net earnings $58.4M, operating cash flow $82.3M. The chart follows the revenue to costs, profit and cash.
Cadre Holdings (CDRE) · Q3 2026
Cadre Holdings, Q3 2026: revenue $203M (+30% year over year), operating margin 14.0%, net earnings $16.0M, operating cash flow $22.9M. The chart follows the revenue to costs, profit and cash.
| MSA Safety (MSA) | Cadre Holdings (CDRE) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q3 2026 |
| Revenue | $536M | $203M |
| Revenue growth, Y/Y | +14% | +30% |
| Gross margin | 45.5% | 43.4% |
| Operating margin | 16.4% | 14.0% |
| Net earnings | $58.4M | $16.0M |
| Net margin | 10.9% | 7.9% |
| Operating cash flow | $82.3M | $22.9M |
| Free cash flow | $68.2M | $19.9M |
| Market value | $6.6B | — |
| P/E | 21.9× | — |
| Analysts’ mean target | $207.33 | — |
Where the revenue comes from
MSA Safety
- Detection: $234M (44%)
- Fire Service: $173M (32%)
- Industrial PPE and Other: $129M (24%)
Questions
Which is bigger, MSA Safety or Cadre Holdings?
MSA Safety is the larger company: $536M of revenue in its latest quarter (Q3 2026) against $203M for Cadre Holdings (Q3 2026).
Is MSA Safety or Cadre Holdings growing faster?
Cadre Holdings is growing faster (+30% against +14% a year earlier).
Which is more profitable, MSA Safety or Cadre Holdings?
MSA Safety is more profitable, with an operating margin of 16.4% against 14.0%.
More: MSA Safety earnings · how MSA Safety makes money · Cadre Holdings earnings · how Cadre Holdings makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 3, 2026; 10-Q filed Nov 4, 2026). Fiscal quarters can end on different dates. Not investment advice.