Mesabi Trust (MSB) vs Mechel PAO (MTL)

Mesabi Trust and Mechel PAO are both Steel companies. Mechel PAO is the larger, with a market value of $1.2B against $254.4M — 4.7× the size. Mechel PAO trades at the lower P/E: 0.8× against 38.8×. Mechel PAO grew revenue faster over the last twelve months: 48.0% against −87.6%. Mesabi Trust has the higher net margin (54.5% vs 20.0%) and the higher return on invested capital (3,629.0% vs 0.00%). Across the 21 metrics below, Mechel PAO leads on 13 and Mesabi Trust on 8.

Valuation

Metric MSB MTL Steel median
P/E 38.80 0.84 21.10
P/S 21.06 0.10 0.70
P/B 14.26 n/m 1.39
Price to free cash flow 28.73 0.50 23.71
EV/EBITDA 19.60 2.62 10.71
EV/Sales 19.60 0.78 0.85
Earnings yield 2.58% 119.61% 4.56%
Free cash flow yield 3.48% 201.98% 0.00%

Profitability

Metric MSB MTL Steel median
Gross margin 100.00% 44.30% 13.91%
Operating margin 73.89% 0.00% 4.77%
Net margin 54.47% 20.04% 3.40%
Free cash flow margin 73.32% 23.08% 0.00%
Return on equity 32.13% (40.08%) 2.21%
Return on assets 29.07% 37.90% 1.83%
Return on invested capital 3,628.96% 0.00% 2.52%

Growth

Metric MSB MTL Steel median
Revenue growth (TTM) (87.62%) 48.03% 11.33%
EPS growth (last fiscal year) (85.09%) 10,700.00% —
Revenue growth, 5-year CAGR (7.55%) 5.72% 6.73%
Net income growth, 5-year CAGR (9.94%) 59.28% 0.00%

Health

Metric MSB MTL Steel median
Debt to equity 0.00 (1.81) 0.22
Current ratio 8.81 0.32 2.58
Net debt to EBITDA (1.61) 2.26 0.10

Dividend

Metric MSB MTL Steel median
Dividend yield 3.89% — 2.48%
Payout ratio 0.00 0.00 0.04

Size

Metric MSB MTL Steel median
Market cap 254.40m 1.21b 1.46b

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