ValueScreener company report

Mesabi Trust (MSB)

Name: Mesabi Trust (MSB) filed financial figures
Creator: ValueScreener

NYSE / Basic Materials / Steel

Share price

18.04 USD Market dataClose of Oct 15, 2026

Market capitalisation

236.7M USD Market dataClose of Oct 15, 2026

Market data: Oct 15, 2026
Filed accounts: FY2025, filed Apr 24, 2025
Ratios computed: Oct 15, 2026
Filed years: 14, FY2011 to FY2025

Four kinds of sourceSEC filingCompany statementMarket dataComputedWhat each means

SEC filingFiled with the SEC: Read from a statement the company filed with the SEC, with the form, fiscal year, filing date and accession beside it.
Company statementCompany statement: What the company says about itself in a filing: an 8-K item, the auditor, its own segment names.
Market dataMarket data: Prices, market value and what analysts publish, with the date they are as of.
ComputedComputed by ValueScreener: Worked out by us from the other three, with the inputs and the formula one press away. A score is a research output, not a rating or a recommendation.

Reading

1 of 10

Overview

What the business is, what it costs, and how it reads on four questions.

Market dataSEC filingComputed

Quality

Return on equity

399.8% Computed

From the FY2025 filing

Read quality

Financial strength

Debt to equity

n/a Computed

From the FY2025 filing

Why n/a

The filed borrowings do not add up to a total we can stand behind: the filer's own liability subtotals leave room for debt we did not read.

Read financial strength

Valuation

Price to earnings

2.54x Computed

FY2025 accounts, priced at the latest close

Read valuation

Cash generation

Dividend yield

4.9% Computed

FY2025 accounts, priced at the latest close

Read cash generation

Revenue and net income, as filed

Revenue Net income10 filed fiscal years, from the annual reports; the table in Filings names each document.

Named tests met: 3 of 30 Which tests

The business, and the score behind its five axes

The reading, in brief

Is it cheap

Price to earnings is 2.54x at the close of 2026-10-15 on FY2025 figures; the lines are 15.00x (Graham's defensive ceiling) and, by market convention, 10.00x, 25.00x and 40.00x, and this sits below the lowest.

Today, against the Basic Materials sector (124 companies), 2.54x sits at the 0th percentile; the middle half of that group runs from 15.03x to 34.97x.

Is it good

Return on equity was 399.8% in FY2025, in the band labelled "Exceptional, check the leverage" (25.0% and above), on lines anchored on Damodaran's cost-of-capital data, suggesting high returns on shareholders' money, which leverage can also produce.

Today, against the Basic Materials sector (247 companies), 399.8% sits at the 100th percentile; the middle half of that group runs from -20.2% to 11.8%.

Year by year against peers: Whether Mesabi Trust's return on equity stayed above the median of the Basic Materials sector, year by year. (FY2021 to FY2025, 5 fiscal years of Mesabi Trust with a comparable figure)
The direction: Which way Mesabi Trust's gross margin has moved, and how steadily. (FY2016 to FY2025, 9 filed years of Mesabi Trust)
What could explain it: What in Mesabi Trust's filed statements could explain the movements. (3 readings drawn from the statement lines Mesabi Trust filed)
What to check next: What to check next on Mesabi Trust, and where in its filings. (3 questions for Mesabi Trust)
In one paragraph: One paragraph on Mesabi Trust's returns, cash, balance sheet and price. (4 of sixteen figures read for Mesabi Trust)

These are MSB’s filed figures. The research desk says what they mean, against peers and its own years, with what to check next.

Research MSBPart of Serious. New accounts start with 30 days of Professional, free, no card.

2 of 10

What changed

The newest filing, what it moved, and when the next one is due.

SEC filingCompany statement

The newest accounts on file are the FY2025 annual report: 10-K, filed Apr 24, 2025, accession 0001558370-25-005426.

3 of 10

Quality

The returns the business earns on its capital, and the margins behind them.

SEC filingComputed

Mesabi Trust: returns on capital and margins, each with its source
Figure	Value, source and document
Return on invested capital, after tax Why n/a No operating income line is filed for this year.	n/a ComputedFY2025 10-K, filed Apr 24, 2025, 0001558370-25-005426
Return on equity	399.8% ComputedFY2025 10-K, filed Apr 24, 2025, 0001558370-25-005426
Return on capital employed, pre-tax Why n/a We do not hold this figure for this company, so there is nothing to show.	n/a ComputedFY2025 10-K, filed Apr 24, 2025, 0001558370-25-005426
Return on assets	91.7% ComputedFY2025 10-K, filed Apr 24, 2025, 0001558370-25-005426
Gross margin	94.6% ComputedFY2025 10-K, filed Apr 24, 2025, 0001558370-25-005426
Operating margin Why n/a No operating income line is filed for this year.	n/a ComputedFY2025 10-K, filed Apr 24, 2025, 0001558370-25-005426
Net margin	94.6% ComputedFY2025 10-K, filed Apr 24, 2025, 0001558370-25-005426

MSB 94.6%

-3.1%94.6%

Net margin: MSB against the 5 companies named under Valuation context, each as filed for its own latest year. Placement only: no average is drawn.

4 of 10

Financial strength

What it owes against what it owns, and whether it can meet what falls due.

SEC filingComputedCompany statement

Mesabi Trust: leverage, liquidity and distress, each with its source
Figure	Value, source and document
Debt to equity Why n/a The filed borrowings do not add up to a total we can stand behind: the filer's own liability subtotals leave room for debt we did not read.	n/a ComputedFY2025 10-K, filed Apr 24, 2025, 0001558370-25-005426
Current ratio Why n/a The balance sheet files no current assets and current liabilities split, so the ratio is not computed.	n/a ComputedFY2025 10-K, filed Apr 24, 2025, 0001558370-25-005426
Quick ratio Why n/a We do not hold this figure for this company, so there is nothing to show.	n/a ComputedFY2025 10-K, filed Apr 24, 2025, 0001558370-25-005426
Interest coverage Why n/a No operating income line is filed for this year.	n/a ComputedFY2025 10-K, filed Apr 24, 2025, 0001558370-25-005426
Altman Z-score Why n/a We do not hold this figure for this company, so there is nothing to show.	n/a ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Apr 24, 2025, 0001558370-25-005426
Net debt Why n/a The FY2025 balance sheet carries no net debt we could read.	n/a ComputedFY2025 10-K, filed Apr 24, 2025, 0001558370-25-005426

Total assets Total liabilities Shareholders’ equity

The balance sheet, line by line

Financial health

What Mesabi Trust owned and owed at the end of fiscal 2025, from the balance sheet it filed (10-K, filed Apr 24, 2025, 0001558370-25-005426).

Mesabi Trust: balance sheet position
Total assets	101.7M FiledFY2025 10-K, filed Apr 24, 2025
Total liabilities	78.4M FiledFY2025 10-K, filed Apr 24, 2025
Shareholders' equity	23.3M FiledFY2025 10-K, filed Apr 24, 2025
Cash	100.2M FiledFY2025 10-K, filed Apr 24, 2025
Total debt	n/a FiledFY2025 10-K, filed Apr 24, 2025
Net debt	n/a
Current ratio	n/a
Debt to equity	n/a

Debt to equity: FY2025: The filed borrowings do not add up to a total we can stand behind: the filer's own liability subtotals leave room for debt we did not read.
Current ratio: FY2025: The balance sheet files no current assets and current liabilities split, so the ratio is not computed.
Interest cover: FY2025: No operating income line is filed for this year.

Read from the filed balance sheet for each year, with the income statement of the same year supplying operating profit where a ratio needs it. Nothing here is a view on whether this company is sound.

5 of 10

Valuation context

What the market charges for it, against its own record and companies like it.

Market dataSEC filingComputed

Mesabi Trust: what the market charges, each with its source
Figure	Value, source and document
Price to earnings	2.54x ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Apr 24, 2025, 0001558370-25-005426
P/E on trailing twelve months	119.15x ComputedClose of Oct 15, 2026 · Trailing four quarters, each as known on the day; the quarterly filings are listed under Filings
Price to book	10.15x ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Apr 24, 2025, 0001558370-25-005426
Price to sales	2.40x ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Apr 24, 2025, 0001558370-25-005426
Enterprise value to EBIT Why n/a We do not hold this figure for this company, so there is nothing to show.	n/a ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Apr 24, 2025, 0001558370-25-005426
Enterprise value to EBITDA Why n/a We do not hold this figure for this company, so there is nothing to show.	n/a ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Apr 24, 2025, 0001558370-25-005426
Price to earnings over growth Why n/a We do not hold this figure for this company, so there is nothing to show.	n/a ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Apr 24, 2025, 0001558370-25-005426
Diluted earnings per share	7.11 USD FiledFY2025 10-K, filed Apr 24, 2025, 0001558370-25-005426
Graham number	16.86 USD ComputedFY2025 10-K, filed Apr 24, 2025, 0001558370-25-005426

We publish no fair value or price target of our own. Value MSB on your own assumptions in the DCF workbench, starting from the filed figures.

Its own record, and companies like it

Valuation

What the market charges for Mesabi Trust today, and the multiples it has carried. No value of ours: the figures are the filings’ and the market’s.

Mesabi Trust: valuation
Share price	18.04 USD
Market capitalisation	236.7M USD
Enterprise value to EBITDA	n/a
Graham number	16.86 USD
Diluted earnings per share, FY2025	7.11 USD

Price to earnings on trailing twelve months, a different basis from the fiscal-year P/E above, since Oct 3, 2016: low 3.20x, median 10.23x, high 150.13x, latest 119.15x. 2,460 trading days with a meaningful ratio, 63 more on a loss and left out. Each close over the trailing twelve months of earnings as known that day: a quarter counts from the day it was filed.

Companies like Mesabi Trust

Same industry (Steel) and size band (Micro, 50M to 300M), nearest in market value and net margin. Each of those counts equally, by how many of the companies considered sit between the two on it. Closest first: the order is likeness and nothing else.

6 of 10

Cash generation

Whether profit arrives as cash, and what is paid back to shareholders.

SEC filingComputed

Mesabi Trust: cash generation and what is paid out, each with its source
Figure	Value, source and document
Free cash flow yield Why n/a We do not hold this figure for this company, so there is nothing to show.	n/a ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Apr 24, 2025, 0001558370-25-005426
Free cash flow Why n/a The FY2025 filing carries no free cash flow we could read.	n/a ComputedFY2025 10-K, filed Apr 24, 2025, 0001558370-25-005426
Free cash flow margin Why n/a No free cash flow, and no operating cash flow and capital expenditure pair, is filed for this year.	n/a ComputedFY2025 10-K, filed Apr 24, 2025, 0001558370-25-005426
Dividend yield	4.9% ComputedClose of Oct 15, 2026 · FY2025 10-K, filed Apr 24, 2025, 0001558370-25-005426
Payout ratio	19.0% ComputedFY2025 10-K, filed Apr 24, 2025, 0001558370-25-005426

Free cash flow Net incomeProfit that arrives as cash stands level with net income; a gap year after year is worth reading about.

7 of 10

Filings

Every figure, the year it is for and the document it was read from.

SEC filingMarket data

The filed figures

Computed from the accounts this company filed with the SEC and, in a ratio with a price in it, the last close, dated on this page. Every filed figure below carries the fiscal year and the filing date its accounts were read from, and every blank carries the reason it is blank. Nothing here is a view on this company.

Mesabi Trust: the eight ratios, with the fiscal year and filing date behind each.
Figure	Value	Year	As of
	2.54x	FY2025	Oct 15, 2026
FormulaShare price / earnings per share. Where the filing states no earnings per share this listing can be priced on, which is every 20-F and 40-F filer because theirs is stated per ordinary share, it is market capitalisation / net income: the same multiple, undiluted. As ofThe close on Oct 15, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form10-KFiledApr 24, 2025PeriodFY2025Accession0001558370-25-005426What we read from itIncome statementFY2025Open on SEC.gov, accession 0001558370-25-005426, leaves this page and opens in a new tab
	10.15x	FY2025	Oct 15, 2026
FormulaMarket capitalisation / shareholders equity As ofThe close on Oct 15, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form10-KFiledApr 24, 2025PeriodFY2025Accession0001558370-25-005426What we read from itBalance sheetFY2025Open on SEC.gov, accession 0001558370-25-005426, leaves this page and opens in a new tab
	n/a	FY2025	Oct 15, 2026
n/a The filed income statement reports no operating income.
Formula(Market capitalisation + total debt - cash) / operating income, or over the filing's own EBIT (income before tax + interest expense) where the filer tags no operating line, as Johnson & Johnson does not in any of its ten filed years. As ofThe close on Oct 15, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form10-KFiledApr 24, 2025PeriodFY2025Accession0001558370-25-005426What we read from itIncome statementFY2025Open on SEC.gov, accession 0001558370-25-005426, leaves this page and opens in a new tabForm10-KFiledApr 24, 2025PeriodFY2025Accession0001558370-25-005426What we read from itBalance sheetFY2025Open on SEC.gov, accession 0001558370-25-005426, leaves this page and opens in a new tab
	n/a	FY2025	Oct 15, 2026
n/a The filed cash flow statement reports neither free cash flow nor the operating cash flow and capital spending it is built from.
FormulaFree cash flow per share / share price x 100 As ofThe close on Oct 15, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form10-KFiledApr 24, 2025PeriodFY2025Accession0001558370-25-005426What we read from itCash flow statementFY2025Open on SEC.gov, accession 0001558370-25-005426, leaves this page and opens in a new tab
	n/a	FY2025	Apr 24, 2025
n/a No operating income line is filed for this year.
FormulaVendor trailing-twelve-month return on invested capital where one is published, which uses after-tax operating profit over total assets less current liabilities. Otherwise our own recompute: NOPAT / (shareholders equity + total debt - cash) x 100, where NOPAT is the filed operating profit after tax, or the filing's own EBIT after tax where the filer tags no operating line. As ofThe filing date of the statements below, for FY2025. Form10-KFiledApr 24, 2025PeriodFY2025Accession0001558370-25-005426What we read from itIncome statementFY2025Open on SEC.gov, accession 0001558370-25-005426, leaves this page and opens in a new tabForm10-KFiledApr 24, 2025PeriodFY2025Accession0001558370-25-005426What we read from itBalance sheetFY2025Open on SEC.gov, accession 0001558370-25-005426, leaves this page and opens in a new tab
	4.9%	FY2025	Oct 15, 2026
FormulaCommon dividends paid in the latest filed year / market capitalisation x 100. n/a where the filing cannot support it: a special or first-year payment, a total that mixes preferred dividends, or a cash-flow statement over 15 months old. As ofThe close on Oct 15, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form10-KFiledApr 24, 2025PeriodFY2025Accession0001558370-25-005426What we read from itCash flow statementFY2025Open on SEC.gov, accession 0001558370-25-005426, leaves this page and opens in a new tab
	n/a	FY2025	Apr 24, 2025
n/a The filed borrowings do not add up to a total we can stand behind: the filer's own liability subtotals leave room for debt we did not read.
FormulaTotal debt / shareholders equity As ofThe filing date of the statements below, for FY2025. Form10-KFiledApr 24, 2025PeriodFY2025Accession0001558370-25-005426What we read from itBalance sheetFY2025Open on SEC.gov, accession 0001558370-25-005426, leaves this page and opens in a new tab
	n/a	FY2025	Apr 24, 2025
n/a The balance sheet files no current assets and current liabilities split, so the ratio is not computed.
FormulaCurrent assets / current liabilities As ofThe filing date of the statements below, for FY2025. Form10-KFiledApr 24, 2025PeriodFY2025Accession0001558370-25-005426What we read from itBalance sheetFY2025Open on SEC.gov, accession 0001558370-25-005426, leaves this page and opens in a new tab
	2.40x	FY2025	Oct 15, 2026
FormulaMarket capitalisation / revenue As ofThe close on Oct 15, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form10-KFiledApr 24, 2025PeriodFY2025Accession0001558370-25-005426What we read from itIncome statementFY2025Open on SEC.gov, accession 0001558370-25-005426, leaves this page and opens in a new tab
	n/a	FY2025	Oct 15, 2026
n/a This figure compares a year against the one before it, and we hold one filed year for this company.
FormulaPrice to earnings / the annual earnings growth rate, in percentage points As ofThe close on Oct 15, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form10-KFiledApr 24, 2025PeriodFY2025Accession0001558370-25-005426What we read from itIncome statementFY2025Open on SEC.gov, accession 0001558370-25-005426, leaves this page and opens in a new tab
	n/a	FY2025	Oct 15, 2026
n/a We hold no figure here and no stored reason for its absence. The gap is ours, not the company's.
Formula1.2 x working capital/assets + 1.4 x retained earnings/assets + 3.3 x EBIT/assets + 0.6 x market value of equity/total liabilities + 1.0 x revenue/assets As ofThe close on Oct 15, 2026, over the filed figures of FY2025: a price is in this figure, and it moved after the filing. Form10-KFiledApr 24, 2025PeriodFY2025Accession0001558370-25-005426What we read from itIncome statementFY2025Open on SEC.gov, accession 0001558370-25-005426, leaves this page and opens in a new tabForm10-KFiledApr 24, 2025PeriodFY2025Accession0001558370-25-005426What we read from itBalance sheetFY2025Open on SEC.gov, accession 0001558370-25-005426, leaves this page and opens in a new tab
	-0.74	FY2025	Apr 24, 2025
FormulaAn eight-variable index of year-on-year changes in receivables, gross margin, asset quality, revenue, depreciation, overheads, leverage and accruals As ofThe filing date of the statements below, for FY2025. Form10-KFiledApr 24, 2025PeriodFY2025Accession0001558370-25-005426What we read from itIncome statementFY2025Open on SEC.gov, accession 0001558370-25-005426, leaves this page and opens in a new tabForm10-KFiledApr 24, 2025PeriodFY2025Accession0001558370-25-005426What we read from itBalance sheetFY2025Open on SEC.gov, accession 0001558370-25-005426, leaves this page and opens in a new tabForm10-KFiledApr 24, 2025PeriodFY2025Accession0001558370-25-005426What we read from itCash flow statementFY2025Open on SEC.gov, accession 0001558370-25-005426, leaves this page and opens in a new tab
	7/9	FY2025	Apr 24, 2025
FormulaOne point each for: positive return on assets, positive operating cash flow, rising return on assets, operating cash flow above net income, falling leverage, rising current ratio, no new shares issued, rising gross margin, rising asset turnover. As ofThe filing date of the statements below, for FY2025. Form10-KFiledApr 24, 2025PeriodFY2025Accession0001558370-25-005426What we read from itIncome statementFY2025Open on SEC.gov, accession 0001558370-25-005426, leaves this page and opens in a new tabForm10-KFiledApr 24, 2025PeriodFY2025Accession0001558370-25-005426What we read from itBalance sheetFY2025Open on SEC.gov, accession 0001558370-25-005426, leaves this page and opens in a new tabForm10-KFiledApr 24, 2025PeriodFY2025Accession0001558370-25-005426What we read from itCash flow statementFY2025Open on SEC.gov, accession 0001558370-25-005426, leaves this page and opens in a new tab

The figures are computed from the accounts for fiscal 2025, the newest full year on file. 14 filed fiscal years on record, FY2011 to FY2025, from SEC EDGAR. Prices as of Oct 15, 2026. Ratios recomputed Oct 15, 2026. Two facts, because a recompute is not a fresh quote.

The year and the filing date name the statement each figure’s accounts are read from, and they stand even where the figure itself could not be computed: the line beneath a blank says what that statement did not carry. A figure’s name opens its formula and the filings behind it; a statement that names no SEC filing has no filing date, and reads n/a.

Ten years of filed figures, year by year

Ten years of filed figures

10 filed fiscal years, FY2015 to FY2025, read from the annual reports Mesabi Trust filed with the SEC. Each year names its filing. Amounts in USD, as filed.

Mesabi Trust: revenue, earnings, free cash flow and returns, by fiscal year, with the filing each year was read from
Year	Revenue	Operating income	Net income	EPS, diluted	Free cash flow	Operating margin	Return on equity	Filing
FY2025	98.6M	n/a	93.3M	7.11	n/a	n/a	399.8%	10-K, Apr 24, 20250001558370-25-005426
FY2024	22.9M	n/a	19.0M	1.45	n/a	n/a	90.5%	10-K, Apr 24, 20240001558370-24-005598
FY2023	7.7M	n/a	5.3M	0.41	n/a	n/a	46.4%	10-K, Apr 24, 20230001558370-23-006525
FY2022	71.5M	n/a	68.8M	5.24	n/a	n/a	223.3%	10-K, Apr 27, 20220001558370-22-006127
FY2021	26.0M	n/a	23.4M	1.78	n/a	n/a	142.1%	10-K, Apr 27, 20210001558370-21-004921
FY2019	32.0M	n/a	30.1M	2.29	n/a	n/a	254.0%	10-K, Apr 13, 20200001558370-20-003840
FY2018	47.3M	n/a	45.6M	3.47	n/a	n/a	271.1%	10-K, Apr 12, 20190001558370-19-002959
FY2017	34.5M	n/a	33.4M	2.55	n/a	n/a	315.1%	10-K, Apr 13, 20180001558370-18-002967
FY2016	10.9M	n/a	9.8M	0.74	n/a	n/a	n/a	10-K, Apr 14, 20170001558370-17-002663
FY2015	9.7M	n/a	8.6M	0.65	n/a	n/a	n/a	10-K, Apr 14, 20160001104659-16-111488

Revenue, compound annual growth FY2015 to FY2025: 26.1%
Earnings, compound annual growth FY2015 to FY2025: 27.0%
Earnings per share, compound annual growth FY2015 to FY2025: 27.0%
Free cash flow: Fewer than two filed years carry free cash flow.

Every figure in this section is a line of a filed annual statement or a ratio of two of them. Nothing here is estimated or smoothed. Earnings per share filed before a share split are put on today's share count, and say so. Nothing here is a verdict on the company.

8 of 10

Risks and guardrails

The accounting screens, the published tests, and the lines you can set to be told.

ComputedCompany statement

Mesabi Trust: accounting screens and published tests, each with its source
Figure	Value, source and document
Beneish M-score	-0.74 ComputedFY2025 10-K, filed Apr 24, 2025, 0001558370-25-005426
Piotroski F-score	7/9 ComputedFY2025 10-K, filed Apr 24, 2025, 0001558370-25-005426
Named tests met	3 of 30 Computed
Beta	1.06 ComputedClose of Oct 15, 2026

The named tests

Of 30 tests value investors published: 3 met, 13 not met, 14 we could not complete. Counts, never a score: a single figure would have to decide that meeting one investor’s criteria and meeting another’s are worth the same.

Which tests, by name(all 30)

Meets: Gross margin, turnover (Robert Novy-Marx); Cheapest quarter on P/E (David Dreman); Low P/E, growth, yield (John Neff)
Does not: Defensive investor (Benjamin Graham); Deep value; Large cap, low P/E; High F-score, low P/B (Joseph Piotroski); Three forensic scores; Low beta, profitable; Two thirds of NCAV (Benjamin Graham); P/E times P/B (Benjamin Graham); Owner earnings yield; Low P/S, rising earnings (James O'Shaughnessy); Book or below, low debt (Walter Schloss); Tangible book or below; Cheapest quarter on P/B (David Dreman)
Not measured: Earnings yield and ROIC (Joel Greenblatt); Low PEG, low debt (Peter Lynch); High returns and growth; EV/EBITDA and coverage; High yield, low payout; Dividends and buybacks; ROIC at or above WACC; Near the 52-week low; Z-score and coverage (Edward Altman); High returns, low debt; High return on tangibles; Cash-covered dividend; Cash-flow yield and ROIC; Clean books, high ROIC. A test with a figure we could not read is incomplete, never met and never failed.

Figures we could not read(13)

Current Ratio: The balance sheet files no current assets and current liabilities split, so the ratio is not computed.
Debt to Equity: The filed borrowings do not add up to a total we can stand behind: the filer's own liability subtotals leave room for debt we did not read.
EV/EBIT: We do not hold this figure for this company, so there is nothing to show.
Return on Invested Capital: No operating income line is filed for this year.
Altman Z-Score: We do not hold this figure for this company, so there is nothing to show.
PEG Ratio: We do not hold this figure for this company, so there is nothing to show.
EV/EBITDA: We do not hold this figure for this company, so there is nothing to show.
Interest Coverage: No operating income line is filed for this year.
Free Cash Flow Yield: We do not hold this figure for this company, so there is nothing to show.
Share Count Change Yoy: The stored figure is a zero that can stand for data we do not hold, so this test is not measured.
ROIC-WACC Spread: We do not hold this figure for this company, so there is nothing to show.
Capex To Ocf: We do not hold this figure for this company, so there is nothing to show.
Dividend Coverage Ratio: We do not hold this figure for this company, so there is nothing to show.

9 of 10

Declared positions

Whether anybody here owns this company.

Positions declared by the founder: no holding in any company shown here, as of October 3, 2026.

10 of 10

Next step

What to do with what you have read.

Value it in the DCF workbench

A thesis is your reason for owning it, in your words, with the figures that must stay true. Checking those figures every night against the newest filed accounts, and telling you once when one breaks, is what the subscription adds.

What this cannot tell you

13 figures could not be read on this company, among them Current Ratio, Debt to Equity, EV/EBIT. Each blank in the table above names the rest, with its reason. 14 named tests come back incomplete because of them, which is neither met nor missed.

And the one that is true of all of it: This is what the numbers say today. It cannot tell you the day one of them stops being true. Nothing here can, because the reasons are not written down.

Running this once is arithmetic on public documents and you are welcome to it. Writing down why you own each company, in your own words and with the numbers that have to stay true for it to hold, and then having those numbers re-checked every night against the newest filed accounts, and against the latest close where a rule watches a price, is Professional, the plan a new account starts on for 30 days, one trial per person. It writes to you the day one breaks, and stays quiet when nothing does. The check runs every night at 23:30 UTC. A filing is picked up the night after it is published.

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ValueScreener · valuescreener.ai · Computed from accounts filed with the SEC by this company, read from EDGAR, and from dated closing prices. On this page a filed figure opens into its formula, its inputs and the statement, fiscal year and filing date it was read from, and a price into the day of its close. A figure that cannot show that trail says so.

A computation on accounts filed with the SEC, not a recommendation and not advice. Past filings do not indicate future results. Risk disclaimer.

Four questions, at a glance

Quality

Financial strength

Valuation

Cash generation

Revenue and net income, as filed

The reading, in brief

Financial health

Valuation

Companies like Mesabi Trust

The filed figures

Ten years of filed figures

The named tests

What this cannot tell you

Margin Notes