SequelSEC

MESABI TRUST MSB

Mineral Royalty Traders · CIK 0000065172 · Fiscal year ends 0131

AnnualQuarterlyTTM
Revenue
$98.60M
Fiscal year ended 2025-01-31
Operating income
Unavailable
Fiscal year ended 2025-01-31
Free cash flow
Unavailable
Fiscal year ended 2025-01-31

Valuation, from the filing

Public float$230.47MMarket value of stock held by non-affiliates, as stated on the cover page for 2024-07-31
Float per share$17.57Float divided by shares outstanding in the same filing. A floor under the share price on that date, not the price itself.
Float / net income2.5×A lower bound on the multiple, because affiliate holdings are excluded.
Float / revenue2.3×A lower bound on the multiple, because affiliate holdings are excluded.
Float / equity9.9×A lower bound on the multiple, because affiliate holdings are excluded.

Every figure here is drawn from the 10-K cover page and the statements behind it, so each one traces to a filing. Public float counts only stock held by non-affiliates, which makes these floors rather than estimates: a high multiple is conclusive, a low one may mean cheap or may mean closely held. The float was measured on 2024-07-31, not today, and each multiple below it uses the figures for the fiscal year ending 2025-01-31 — the year that filing covered.

Valuation over time

2.5× earnings today, against a median of 12.6× across 10 years on record. Below its own history.

Float measuredPublic floatFloat / net income
2024-07-31$230.47M2.5×
2023-07-31$257.74M13.6×
2022-07-31$357.51M67.3×
2021-07-31$455.70M6.6×
2020-07-31$352.21M15.0×
2019-07-31$352.21M11.7×
2018-07-31$369.98M8.1×
2017-07-31$176.80M5.3×
2016-07-31$135.81M13.9×
2015-07-31$141.44M16.5×

Each float is paired with the fiscal year the filing that stated it covers. Only years where the company reported positive net income appear, because a multiple against a loss is not a multiple.

MESABI TRUST (MSB) reported revenue of $98.60M and net income of $93.27M for the fiscal year ended 2025-01-31. This page shows 10 annual periods of income statement, balance sheet and cash flow figures normalized from MESABI TRUST’s SEC filings, each linked to the filing it came from. It is classified by the SEC under Mineral Royalty Traders.

Income

MESABI TRUST income by fiscal year, in US dollars, normalized from SEC filings.
Metric2025-01-312024-01-312023-01-312022-01-312021-01-312020-01-312019-01-312018-01-312017-01-312016-01-31
Revenue$98.60M$22.86M$7.74M$71.46M$25.95M$31.99M$47.29M$34.50M$10.89M$9.72M
Cost of revenue$5.32M$3.88M$2.43M$2.69M$2.54M$1.94M$1.73M$1.07M$1.12MUnavailable
Gross profit$93.27M$18.98M$5.31M$68.77M$23.41M$30.06M$45.56M$33.42M$9.76MUnavailable
Operating incomeUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Net income$93.27M$18.98M$5.31M$68.77M$23.41M$30.06M$45.56M$33.42M$9.76M$8.56M
Research & developmentUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Weighted-average diluted sharesUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Pretax incomeUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Income tax expenseUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Diluted EPSUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Selling, general & administrativeUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
General & administrativeUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable$1.07M$1.12M$1.16M
Selling & marketingUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable

Balance

MESABI TRUST balance by fiscal year, in US dollars, normalized from SEC filings.
Metric2025-01-312024-01-312023-01-312022-01-312021-01-312020-01-312019-01-312018-01-312017-01-312016-01-31
Cash & equivalentsUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable$314.84K$13.70M$2.59M
Total assets$101.73M$26.69M$14.12M$53.91M$22.93M$23.65M$35.45M$26.22M$14.25M$9.82M
Current assets$101.73M$26.69M$14.12M$53.91M$22.93M$23.65M$35.45M$26.22M$14.25M$9.36M
Total liabilities$78.40M$5.72M$2.68M$23.12M$6.45M$11.82M$18.65M$15.62M$4.04M$827.79K
Current liabilitiesUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Total equity incl. NCI$23.33M$20.98M$11.44M$30.79M$16.48M$11.83M$16.81M$10.61MUnavailableUnavailable
Temporary (mezzanine) equityUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
InventoryUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Accounts receivable$1.16M$1.96M$23.56K$4.63M$249.48K$69.59K$2.34M$1.96MUnavailableUnavailable
GoodwillUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Long-term debtUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Accounts payableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable

Cash flow

MESABI TRUST cash flow by fiscal year, in US dollars, normalized from SEC filings.
Metric2025-01-312024-01-312023-01-312022-01-312021-01-312020-01-312019-01-312018-01-312017-01-312016-01-31
Operating cash flow$93.94M$14.61M$13.86M$62.84M$20.81M$34.59M$45.50M$29.51M$12.58M$8.22M
Capital expendituresUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Investing cash flowUnavailableUnavailableUnavailable$9.91M$3.43M$18.79M-$8.32M-$23.34M$5.74M-$5.43M
Financing cash flowUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Net change in cashUnavailableUnavailableUnavailable$35.23M$2.32M$9.30M$566.98K-$13.38M$11.11M-$6.13M
Stock-based compensationUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Common dividends paid$17.71M$4.59M$47.63M$37.52M$21.91M$44.08M$36.60M$19.55M$7.22M$8.92M
Common share repurchasesUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Depreciation & amortizationUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable

Derived

MESABI TRUST derived by fiscal year, in US dollars, normalized from SEC filings.
Metric2025-01-312024-01-312023-01-312022-01-312021-01-312020-01-312019-01-312018-01-312017-01-312016-01-31
Free cash flowUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Gross margin94.6%83.0%68.6%96.2%90.2%94.0%96.3%96.9%89.7%Unavailable
Operating marginUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
FCF marginUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
SBC / revenueUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Current ratioUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Revenue YoY growth331.3%195.3%-89.2%175.4%-18.9%-32.4%37.1%216.8%12.0%Unavailable
Net margin94.6%83.0%68.6%96.2%90.2%94.0%96.3%96.9%89.7%88.0%
R&D / revenueUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
CapEx / revenueUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Long-term debt / equityUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable
Effective tax rateUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailableUnavailable

Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open MSB in the interactive workspace to inspect any figure back to its filing.

Source filings

10-Q · Filed 2026-09-11View SEC filing
10-Q · Filed 2026-06-12View SEC filing
10-Q · Filed 2025-12-12View SEC filing
10-Q · Filed 2025-09-15View SEC filing
10-Q · Filed 2025-06-12View SEC filing
10-K · Filed 2025-04-24View SEC filing

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Every accounting identity this site checks — the balance sheet, the gross profit bridge and the cash flow statement — reconciles in every period shown.