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Mesabi Trust

MSB Basic Materials Steel

Mesabi Trust’s revenue for fiscal 2026 (year ended January 2026) was $17.5 million, down 82.2% from fiscal 2025. In the quarter to July 2026, revenue fell 55.8%, EPS fell 102.0% and free cash flow fell 94.3%, each against the same quarter a year earlier.

17.88 0.16 −0.89%
Market cap
$236.7M
P/E
36.3×
Fwd P/E
56.9×
Dividend yield
4.98%
F-score
6/9
Altman Z
70.36
Beneish M
−0.99
Dividend safety
20/100
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 0.08%

Capital & Financial Ratios $m

Market Cap 236.69
Revenue 11.91
Net Income 6.49
Free Cash Flow 8.73
Net Debt (17.39)
Current Ratio 8.81 (at or above 1.5: strong)
Debt/Equity 0.00 (at or below 0.5: strong)
P/E ratio 36.28 (above 35: high)
Fwd P/E 56.90 (above 35: high)
P/S ratio 19.70 (above 10: high)
P/B ratio 13.34 (above 6: high)
Past 5Y EPS Growth (9.85%) (below 0%: weak)
This Y EPS Growth —
Next Y EPS Growth —
Next Y revenue growth (89.17%) (below 0%: weak)
Next 5Y EPS Growth —

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 18.2×, against a ten-year median of 8.5×; over the ten years it ranged from −55.3× in 2023 to 41.4× in 2023.
P/E against its own 10 years 93.59%
10-year low 10-year high
P/S against its own 10 years 86.08%
10-year low 10-year high
P/B against its own 10 years 29.30%
10-year low 10-year high
EV/Sales against its own 10 years 85.74%
10-year low 10-year high
EV/FCF against its own 10 years 88.23%
10-year low 10-year high

Dividends

Payout Ratio 1.81
Annual Dividend Rate 0.89
Annual Dividend Yield 4.98%
total individual payouts
2026 0.55
0.26
0.24
0.05
2025 6.97
5.95
0.56
0.12
0.34
2024 1.35
0.37
0.29
0.30
0.39
2023 0.35
0.35
2022 3.63
1.75
1.04
0.84
2021 2.86
0.46
0.89
0.09
1.42
2020 1.67
0.70
0.56
0.05
0.36
2019 3.36
1.39
0.89
0.21
0.87
2018 2.79
1.18
0.45
0.22
0.94
2017 1.65
0.14
0.55
0.16
0.16
0.64
2016 0.55
0.05
0.20
0.20
0.10
special payouts not included in total or ratios

Assets vs Liabilities $m

2024 2025 2026 Q'26
Cash 24 100 23 17
Receivables 2 1 1 1
Inventory — — — —
Other 0 0 0 1
27 102 24 20
2024 2025 2026 Q'26
Payables — — — —
ST’ Debt — — — —
Other — — — —
6 78 4 2

Compound Annual Growth %

10y 5y 3y
Sales 6.07% (7.55%) 31.30%
Cash Flow 5.77% (7.09%) 1.28%
Earnings 4.95% (9.94%) 37.72%
Book Value 8.54% 4.37% 21.28%

Revenue $m

Apr Jul Oct Jan Year
’26 2 2 — — —
’26 5 6 4 4 18
’25 6 6 79 7 99
’24 2 10 5 6 23
’23 14 (4) 0 (2) 8
’22 9 28 16 18 71
’21 2 7 6 11 26
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Apr Jul Oct Jan Year
’26 1 0 — — —
’26 2 4 4 4 14
’25 3 4 78 9 94
’24 (1) 5 5 6 15
’23 13 2 0 (1) 14
’22 5 18 19 20 63
’21 0 4 5 12 21
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Apr Jul Oct Jan Year
’26 1 0 — — —
’26 2 4 4 4 14
’25 3 4 78 9 94
’24 (1) 5 5 6 15
’23 13 2 0 (1) 14
’22 5 18 19 20 63
’21 0 4 5 12 21
Fiscal quarters ending in the months shown.

EPS $

Apr Jul Oct Jan Year
’26 0.08 (0.01) — — —
’26 0.28 0.36 0.21 0.21 1.06
’25 0.27 0.41 5.97 0.46 7.11
’24 0.08 0.70 0.31 0.36 1.45
’23 1.04 (0.37) (0.03) (0.23) 0.40
’22 0.65 2.04 1.22 1.33 5.24
’21 0.12 0.51 0.39 0.76 1.78
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to January

Group Line 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 Trend 2027e 2028e 2029e
Price, $
Price, $ Low 10.75 21.60 21.31 9.76 20.22 16.56 17.13 15.93 22.55 17.25

Analyst estimates 2027–2029

Powerpack
High 26.50 32.68 32.39 29.80 39.61 35.65 29.00 29.72 39.82 42.38
People
People Employees — — — — — — — — — —
Revenue/emp, $m 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Income, $m
Income, $m Revenue 11 34 47 32 26 71 8 23 99 18
Gross margin, % 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00
EBT 10 33 46 30 23 69 5 19 93 14
EBT margin, % 89.68 96.89 96.33 93.95 90.20 96.23 68.58 83.03 94.60 79.14
Net income 10 0 46 30 0 0 0 19 93 14
Depreciation — — — — — — — — — —
Per share, $
Per share, $ Revenue 0.83 2.63 3.60 2.44 1.98 5.45 0.59 1.74 7.51 1.34
Earnings 0.73 2.55 3.47 2.29 1.78 5.24 0.40 1.45 7.11 1.06
Cash flow 0.96 2.25 3.47 2.64 1.59 4.79 1.06 1.11 7.16 1.10
Capex 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Free cash flow 0.96 2.25 3.47 2.64 1.59 4.79 1.06 1.11 7.16 1.10
Book value 0.78 0.81 1.28 0.90 1.26 2.35 0.87 1.60 1.78 1.56
Shares, m 13 13 13 13 13 13 13 13 13 13
Valuation, ×
Valuation, × P/E 18.77 10.33 7.89 8.91 14.12 5.34 56.38 13.46 3.32 32.25
P/S 16.51 9.43 7.61 8.37 12.71 5.14 39.03 11.20 3.14 25.59
P/B 17.61 30.68 21.42 22.63 20.01 11.92 26.42 12.20 13.27 21.98
EV/Sales 15.21 8.73 6.91 7.64 11.84 4.47 37.22 10.15 2.12 24.27
EV/FCF 13.16 10.21 7.19 7.06 14.77 5.08 20.79 15.88 2.23 29.52
Cash, $m
Cash, $m Operating cash flow 13 30 45 35 21 63 14 15 94 14
Capex — — — — — — — — — —
Free cash flow 13 30 45 35 21 63 14 15 94 14
Balance, $m
Balance, $m Working capital 10 11 17 12 16 31 11 21 23 20
Total debt — — — — — — — — — —
Net debt (14) (24) (33) (24) (22) (48) (14) (24) (100) (23)
Shareholders’ equity 10 11 17 12 16 31 11 21 23 20
Returns, %
Returns, % ROA 81.14 165.17 147.74 101.71 100.51 178.98 15.61 93.04 145.27 22.00
ROIC 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
ROE 101.73 321.19 332.40 209.91 165.38 290.94 25.14 117.13 421.08 63.43
Negative figures in brackets.

All 10 years →

Fiscal years to Jan 2026 · latest quarter Jul 2026

Charts ten years each

Mesabi Trust vs peers in Steel (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
SID National Steel Company $1.5B — (loss-making) 199× +18.55% (above 0%: growing) n/m +8.38% (above 0%: growing) 25.92% 5.54% Compare
MTL Mechel PAO $1.2B 0.8× 10.3× +70.05% (above 0%: growing) n/m +467.53% (above 0%: growing) 44.33% 0.00% Compare
NWPX NWPX Infrastructure, Inc. $945.9M 19.3× 23.9× +19.74% (above 0%: growing) +80.22% (above 0%: growing) +410.94% (above 0%: growing) 21.54% 13.26% Compare
MTUS Metallus Inc. $846.4M 108× 25.5× +11.95% (above 0%: growing) +133.33% (above 0%: growing) −114.12% (below 0%: shrinking) 10.00% 3.46% Compare
ASTL Algoma Steel Group Inc. $433.2M — (loss-making) — (loss-making) −54.68% (below 0%: shrinking) n/m +20.93% (above 0%: growing) (39.36%) (50.17%) Compare
FRD Friedman Industries Inc. $297.6M 10.5× 5.0× +78.05% (above 0%: growing) +152.11% (above 0%: growing) −62.51% (below 0%: shrinking) 13.73% 8.77% Compare
MSB Mesabi Trust $236.7M 36.3× 56.9× −55.76% (below 0%: shrinking) n/m −94.31% (below 0%: shrinking) 100.00% 100.00%
ZKIN ZK International Group Co., Ltd. $123.6M — (loss-making) — (loss-making) +6.38% (above 0%: growing) +100.00% (above 0%: growing) −602.13% (below 0%: shrinking) 6.38% 0.00% Compare
LUD Luda Technology Group Limited $89.2M — — — — — — — Compare
Median of peers $639.8M 14.9× 23.9× +18.55% +116.67% +8.38% 13.73% 3.46%

All 21 Steel stocks →

Mesabi Trust (MSB) key facts

  • Concern: Mesabi Trust’s revenue for fiscal 2026 (year ended January 2026) was $17.5 million, down 82.2% from fiscal 2025.
  • Mesabi Trust (MSB) is a Steel company in the Basic Materials sector, listed on the New York Stock Exchange.
  • As of October 16, 2026, MSB traded at $17.88, a market capitalization of $236.7 million.
  • Mesabi Trust pays an annual dividend of $0.89 per share, a yield of 4.98%, with a payout ratio of 180.6%.
  • Return on equity was 63.4% and debt-to-equity 0.00.
  • Its Piotroski F-score is 6 out of 9 and its Altman Z-score is 70.36 (safe zone) for fiscal 2026.

Source: company filings (standardised) and stockrow calculations.

Mesabi Trust (MSB) Latest News

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stockrow.com/MSB · Data as of Jul 31, 2026 · For information only; not investment advice. · © 2026 stockrow.com