Mesabi Trust (MSB) Key Metrics
MSB valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $234.6M
- Enterprise value
- $254.6M
- P/E (TTM)
- 36.5 10-yr median 11.6
- Forward P/E
- 12.8
- PEG ratio
- —
- Price / sales
- 19.7 10-yr median 11.7
- Price / book
- 15.5 10-yr median 20.5
- EV / EBITDA
- 32.9 10-yr median 10.3
- Dividend yield
- 4.98% $0.89 a year
- Beta
- 0.33
MSB key metrics, FY2017–FY2026
Fiscal year ended January 31, 2026 · U.S. dollarsMSB valuation Price multiples at each fiscal year-end price.
P/E ratio+837.6%
31.1
FY2026 · hover or tap a bar for each year
FY2017FY2026
Price / sales+102.5%
24.6
FY2026 · hover or tap a bar for each year
FY2017FY2026
Price / book+59.4%
21.2
FY2026 · hover or tap a bar for each year
FY2017FY2026
EV / EBITDA+1,211.8%
29.5
FY2026 · hover or tap a bar for each year
FY2017FY2026
Price / free cash flow+809.1%
30.0
FY2026 · hover or tap a bar for each year
FY2017FY2026
Free cash flow yield−27.0 pts
3.3%
FY2026 · hover or tap a bar for each year
FY2017FY2026
MSB returns How much profit the business earns on the capital it uses.
Return on equity−357.6 pts
63.4%
FY2026 · hover or tap a bar for each year
FY2017FY2026
Return on assets−123.3 pts
22.0%
FY2026 · hover or tap a bar for each year
FY2017FY2026
Free cash flow margin−286.8 pts
82.2%
FY2026 · hover or tap a bar for each year
FY2017FY2026
Cash conversion (OCF / net income)+3.1%
1.04
FY2026 · hover or tap a bar for each year
FY2017FY2026
Asset turnover−29.9%
0.28
FY2026 · hover or tap a bar for each year
FY2017FY2026
MSB per-share figures Results divided by the shares outstanding at year-end.
Revenue per share−31.2%
$1.34
FY2026 · hover or tap a bar for each year
FY2017FY2026
Earnings per share−85.1%
$1.06
FY2026 · hover or tap a bar for each year
FY2017FY2026
Free cash flow per share−84.7%
$1.10
FY2026 · hover or tap a bar for each year
FY2017FY2026
Book value per share−12.5%
$1.56
FY2026 · hover or tap a bar for each year
FY2017FY2026
Dividends per share+416.3%
$6.97
FY2026 · hover or tap a bar for each year
FY2017FY2026
Shares outstanding0.0%
13.1M
FY2026 · hover or tap a bar for each year
FY2017FY2026
MSB financial health Debt, liquidity and how easily interest is covered.
Net debt+$77.0M
−$23.2M
FY2026 · hover or tap a bar for each year
FY2017FY2026
Net debt / EBITDA−0.60
−1.67
FY2026 · hover or tap a bar for each year
FY2017FY2026
Current ratio+374.8%
6.16
FY2026 · hover or tap a bar for each year
FY2017FY2026
MSB efficiency & capital use Working capital cycle and where the cash goes.
Days sales outstanding−2 days
25 days
FY2026 · hover or tap a bar for each year
FY2017FY2026
Capex / revenue0.0 pts
0.0%
FY2026 · hover or tap a bar for each year
FY2017FY2026
Dividends + buybacks / FCF+616.0 pts
634.8%
FY2026 · hover or tap a bar for each year
FY2017FY2026
MSB valuation history
Fiscal year-endToday10-year median
MSB returns on capital
ROEROICROA
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
MSB debt vs cash
Total debtCash & short-term investments
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
MSB cash returned to shareholders
DividendsBuybacksFree cash flow
MSB price vs earnings per share
Share price at year-endEPS (right axis)
MSB key metrics
FY2017–FY2026| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $431.6M | $309.6M | $256.0M | $302.2M | $367.1M | $326.6M | $267.8M | $360.0M | $325.4M | $179.7M |
| Enterprise value | $408.5M | $209.4M | $234.0M | $288.2M | $324.0M | $304.4M | $244.3M | $329.4M | $303.3M | $165.6M |
| P/E ratio | 31.1 | 3.3 | 13.5 | 56.9 | 5.3 | 14.0 | 8.9 | 7.9 | 9.7 | 18.7 |
| Price / sales | 24.6 | 12.2 | 11.2 | 39.0 | 5.1 | 12.6 | 8.4 | 7.6 | 9.4 | 16.5 |
| Price / book | 21.2 | 13.3 | 12.2 | 26.4 | 11.9 | 19.8 | 22.6 | 21.4 | 31.0 | 17.6 |
| Price / free cash flow | 30.0 | 3.3 | 17.5 | 21.8 | 5.8 | 15.7 | 7.7 | 7.9 | 11.0 | 14.3 |
| Price / operating cash flow | 30.0 | 3.3 | 17.5 | 21.8 | 5.8 | 15.7 | 7.7 | 7.9 | 11.0 | 14.3 |
| EV / sales | 23.3 | 8.2 | 10.2 | 37.2 | 4.5 | 11.7 | 7.6 | 7.0 | 8.8 | 15.2 |
| EV / EBITDA | 29.5 | 2.2 | 12.6 | 38.2 | 4.6 | 11.6 | 7.6 | 7.2 | 9.1 | 16.7 |
| EV / free cash flow | 28.4 | 2.2 | 16.0 | 20.8 | 5.2 | 14.6 | 7.1 | 7.2 | 10.3 | 13.2 |
| Earnings yield | 3.2% | 30.1% | 7.4% | 1.8% | 18.7% | 7.2% | 11.2% | 12.7% | 10.3% | 5.3% |
| Free cash flow yield | 3.3% | 30.3% | 5.7% | 4.6% | 17.1% | 6.4% | 12.9% | 12.6% | 9.1% | 7.0% |
| Dividend yield | 21.2% | 5.7% | 1.8% | 15.8% | 10.2% | 6.7% | 16.5% | 10.2% | 6.0% | 4.0% |
| Shareholder yield (dividends + buybacks) | 21.2% | 5.7% | 1.8% | 15.8% | 10.2% | 6.7% | 16.5% | 10.2% | 6.0% | 4.0% |
| Share price at fiscal year-end | $32.90 | $23.60 | $19.51 | $23.03 | $27.98 | $24.89 | $20.41 | $27.44 | $24.80 | $13.70 |
| Per share | ||||||||||
| Revenue per share | $1.34 | $1.94 | $1.74 | $0.59 | $5.45 | $1.98 | $2.44 | $3.60 | $2.63 | $0.83 |
| Earnings per share | $1.06 | $7.11 | $1.45 | $0.40 | $5.24 | $1.78 | $2.29 | $3.47 | $2.55 | $0.73 |
| Operating cash flow per share | $1.10 | $7.16 | $1.11 | $1.06 | $4.79 | $1.59 | $2.64 | $3.47 | $2.25 | $0.96 |
| Free cash flow per share | $1.10 | $7.16 | $1.11 | $1.06 | $4.79 | $1.59 | $2.64 | $3.47 | $2.25 | $0.96 |
| Cash per share | $1.77 | $7.64 | $1.83 | $1.06 | $3.64 | $1.71 | $1.79 | $2.52 | $1.84 | $1.08 |
| Book value per share | $1.56 | $1.78 | $1.60 | $0.87 | $2.35 | $1.26 | $0.90 | $1.28 | $0.80 | $0.78 |
| Tangible book value per share | $1.56 | $1.78 | $1.60 | $0.87 | $2.35 | $1.26 | $0.90 | $1.28 | $0.80 | $0.78 |
| Dividends per share | $6.97 | $1.35 | $0.35 | $3.63 | $2.86 | $1.67 | $3.36 | $2.79 | $1.49 | $0.55 |
| Capex per share | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Debt per share | — | $0.00 | $0.15 | $0.00 | $0.35 | $0.02 | $0.01 | $0.18 | $0.16 | $0.00 |
| Shares outstanding | 13.1M | 13.1M | 13.1M | 13.1M | 13.1M | 13.1M | 13.1M | 13.1M | 13.1M | 13.1M |
| Change in shares outstanding | +0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 63.4% | 421.1% | 117.1% | 25.1% | 290.9% | 165.4% | 209.9% | 333.6% | 323.4% | 100.2% |
| Return on assets (ROA) | 22.0% | 145.3% | 93.0% | 15.6% | 179.0% | 100.5% | 101.7% | 148.0% | 165.9% | 79.9% |
| Return on tangible assets | 56.9% | 91.7% | 71.1% | 37.6% | 127.5% | 102.1% | 127.1% | 128.5% | 128.2% | 67.5% |
| Free cash flow margin | 82.2% | 369.0% | 63.9% | 179.1% | 87.9% | 80.2% | 108.1% | 96.2% | 85.5% | 115.6% |
| Income quality (OCF / net income) | 1.04 | 1.01 | 0.77 | 2.61 | 0.91 | 0.89 | 1.15 | 1.00 | 0.88 | 1.31 |
| Financial health | ||||||||||
| Total debt | — | $0 | $2.0M | $23,562 | $4.6M | $249,477 | $69,588 | $2.4M | $2.1M | $45,045 |
| Cash & short-term investments | $23.2M | $100.2M | $24.0M | $14.0M | $47.7M | $22.4M | $23.5M | $33.0M | $24.1M | $14.2M |
| Net debt | −$23.2M | −$100.2M | −$22.0M | −$13.9M | −$43.1M | −$22.2M | −$23.4M | −$30.6M | −$22.1M | −$14.1M |
| Debt / equity | — | 0.00 | 0.09 | 0.00 | 0.15 | 0.02 | 0.01 | 0.14 | 0.20 | 0.00 |
| Debt / assets | — | 0.00 | 0.07 | 0.00 | 0.09 | 0.01 | 0.00 | 0.07 | 0.08 | 0.00 |
| Net debt / EBITDA | −1.67 | −1.07 | −1.19 | −1.85 | −0.61 | −0.84 | −0.73 | −0.67 | −0.66 | −1.42 |
| Current ratio | 6.16 | 1.30 | 4.67 | 37.06 | 2.33 | 3.55 | 2.54 | 1.90 | 1.67 | 7.33 |
| Quick ratio | 6.16 | 1.30 | 4.67 | 0.06 | 2.33 | 0.04 | 0.01 | 1.90 | 1.67 | 7.33 |
| Interest coverage | — | — | — | — | 152.3 | — | 443.1 | 699.3 | — | — |
| Working capital | $20.4M | $23.3M | $21.0M | $13.7M | $30.8M | $16.5M | $14.3M | $16.8M | $10.5M | $12.3M |
| Invested capital | −$2.8M | −$76.9M | −$1.0M | −$2.5M | −$12.3M | −$5.7M | −$11.6M | −$13.8M | −$11.5M | −$3.9M |
| Tangible asset value | $20.4M | $23.3M | $21.0M | $11.4M | $30.8M | $16.5M | $11.8M | $16.8M | $10.5M | $10.2M |
| Net current asset value | $20.4M | $23.3M | $21.0M | $11.4M | $30.8M | $16.5M | $11.8M | $16.8M | $10.5M | $10.2M |
| Graham number | $6.08 | $16.86 | $7.21 | $2.82 | $16.64 | $7.10 | $6.82 | $10.00 | $6.78 | $3.58 |
| Graham net-net per share | $1.52 | $1.74 | $1.53 | $1.40 | $2.22 | $2.10 | $1.79 | $1.23 | $0.76 | $0.77 |
| Capital allocation | ||||||||||
| Dividends paid | $91.4M | $17.7M | $4.6M | $47.6M | $37.5M | $21.9M | $44.1M | $36.6M | $19.5M | $7.2M |
| Share buybacks (net) | — | — | — | — | — | — | — | — | $0 | $0 |
| Dividend payout ratio | 659.4% | 19.0% | 24.2% | 897.1% | 54.6% | 93.6% | 146.7% | 80.3% | 58.4% | 75.1% |
| Dividends + buybacks / free cash flow | 634.8% | 18.9% | 31.4% | 343.5% | 59.7% | 105.3% | 127.4% | 80.5% | 66.2% | 57.3% |
| Capex / revenue | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Capex / operating cash flow | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Capex / depreciation | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| R&D / revenue | — | — | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| SG&A / revenue | 16.7% | 19.5% | 16.6% | 26.8% | 3.3% | 8.8% | 5.8% | 3.5% | 2.9% | 9.8% |
| Efficiency | ||||||||||
| Days sales outstanding | 25.5 | 27.3 | 19.4 | 143.5 | 16.6 | 3.5 | 14.1 | 16.8 | 10.6 | 17.2 |
| Days of inventory on hand | — | — | — | 6,418.2 | 14,214.2 | 39,197.8 | 31,703.5 | — | — | — |
| Days payables outstanding | — | — | — | 10,701.5 | 18,533.1 | 13,351.9 | 18,793.3 | 18,720.8 | 15,443.4 | 2,680.4 |
| Cash conversion cycle (days) | — | — | — | -4,139.8 | -4,302.3 | 25,849.4 | 12,924.3 | -18,704.0 | -15,432.8 | -2,663.3 |
| Receivables turnover | 14.32 | 13.35 | 18.77 | 2.54 | 22.02 | 104.57 | 25.96 | 21.74 | 34.48 | 21.28 |
| Payables turnover | — | — | — | 0.03 | 0.02 | 0.03 | 0.02 | 0.02 | 0.02 | 0.14 |
| Inventory turnover | — | — | — | 0.06 | 0.03 | 0.01 | 0.01 | — | — | — |
| Asset turnover | 0.28 | 0.40 | 1.12 | 0.23 | 1.86 | 1.11 | 1.08 | 1.54 | 1.71 | 0.90 |
| Average receivables | $1.2M | $1.9M | $1.2M | $3.0M | $3.2M | $248,158 | $1.2M | $2.2M | $1.0M | $511,596 |
| Average payables | — | — | — | $11.7M | $14.8M | $7.9M | $14.0M | $17.1M | $8.8M | $1.4M |
| Average inventory | — | — | — | $7.0M | $11.3M | $23.1M | $23.6M | — | $0 | $0 |
| Intangibles / total assets | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Computed from MSB's annual financial statements (latest annual report filed April 22, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
MSB valuation and financial ratios
At the end of fiscal 2026 (January 31, 2026), Mesabi traded at 31.1 times earnings, against a 10-year median of 11.6. Based on the latest twelve months, the trailing P/E is 36.5 and the forward P/E is 12.8. Mesabi earned a return on equity of 63.4% in fiscal 2026. It returned $91.4 million to shareholders: $91.4 million in dividends and $0 in share buybacks, 635% of free cash flow.
See the MSB income statement, the MSB chart for price history, or the MSB stock overview for the latest quote and news.
MSB key metrics FAQ
What is Mesabi's P/E ratio?
Mesabi's trailing P/E ratio is 36.5 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 12.8. At the end of fiscal 2026 it was 31.1, compared with a 10-year median of 11.6.
What is Mesabi's EV/EBITDA?
Mesabi's enterprise value was 29.5 times EBITDA at the end of fiscal 2026 (enterprise value $408.5 million, EBITDA $13.9 million); the current EV/EBITDA is 32.9.
What is Mesabi's return on equity?
Mesabi's return on equity (ROE) was 63.4% in fiscal 2026: net income of $13.9 million on average shareholders' equity of $21.9 million.
What is Mesabi's dividend yield?
Mesabi's forward dividend yield is 4.98%. Mesabi paid $91.4 million in dividends in fiscal 2026 ($6.97 per share), a payout ratio of 659.4%.
What is Mesabi's free cash flow yield?
Mesabi generated $14.4 million of free cash flow in fiscal 2026, a free cash flow yield of 3.3% on its market value at year-end ($431.6 million).
What is Mesabi's current ratio?
Mesabi's current ratio was 6.16 at the end of fiscal 2026: current assets were 6.16 times current liabilities.