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Financials · MSB

Mesabi Trust (MSB) financials

For the twelve months ended Oct 31, 2025, Mesabi Trust reported $20.79M of revenue and $17.21M of net income.

Revenue, TTM
$20.79M
Revenue growth, YoY
-78.8%
Net income, TTM
$17.21M
Net margin
82.8%
Cash
$17.39M
P/E
13.15
P/S
10.89
Market cap
$226.4M
Annual revenue$98.60M
FY2015FY2024
Annual net income$93.27M
FY2015FY2024

MSB revenue and earnings growth

MSB revenueQ2 2026$2.48M

Quarter YoY
-55.8%
QoQ
+10.4%
FY YoY
+331.3%
5Y CAGR
+25.2%
10Y CAGR
+14.2%

MSB revenue was $2.48M in fiscal Q2 2026 (ended Jul 31, 2026), down 55.8% from a year earlier and up 10.4% from the prior quarter. For the full fiscal 2024 it was $98.60M, up 331.3% from fiscal 2023. Compound annual growth was +25.2% over 5 years and +14.2% over 10 years. It rose in 6 of the last 10 fiscal years. Fiscal 2024 is the highest of the 15 fiscal years on file.

MSB net incomeQ2 2026-$95.0K

FY YoY
+391.3%
5Y CAGR
+25.4%
10Y CAGR
+14.2%

MSB net income was -$95.0K in fiscal Q2 2026 (ended Jul 31, 2026), compared with $4.74M a year earlier. For the full fiscal 2024 it was $93.27M, up 391.3% from fiscal 2023. Compound annual growth was +25.4% over 5 years and +14.2% over 10 years. It rose in 6 of the last 10 fiscal years. Fiscal 2024 is the highest of the 15 fiscal years on file.

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Income statement

Income statement
Line item
FY2024
Jan 31, 2025
FY2023
Jan 31, 2024
FY2022
Jan 31, 2023
FY2021
Jan 31, 2022
FY2020
Jan 31, 2021
FY2019
Jan 31, 2020
FY2018
Jan 31, 2019
FY2017
Jan 31, 2018
FY2016
Jan 31, 2017
FY2015
Jan 31, 2016
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$1.12M-
Gross profit$93.27M$18.98M$5.31M$68.77M$23.41M$30.06M$45.56M$33.42M$9.76M-
Selling, general and admin-------$1.07M$1.12M$1.16M
Net income$93.27M$18.98M$5.31M$68.77M$23.41M$30.06M$45.56M$33.42M$9.76M$8.56M
EPS, basic$7.11$1.45$0.41$5.24$1.78$2.29$3.47$2.55$0.74$0.65

Balance sheet

Balance sheet
Line item
FY2024
Jan 31, 2025
FY2023
Jan 31, 2024
FY2022
Jan 31, 2023
FY2021
Jan 31, 2022
FY2020
Jan 31, 2021
FY2019
Jan 31, 2020
FY2018
Jan 31, 2019
FY2017
Jan 31, 2018
FY2016
Jan 31, 2017
FY2015
Jan 31, 2016
Cash and equivalents$100.20M$23.98M$13.97M$47.73M$12.50M$10.18M$881.8K$314.8K$13.70M$2.59M
Receivables$1.16M$1.96M$23.6K$4.63M$249.5K$69.6K$2.34M$1.96M--
Current assets$101.73M$26.69M$14.12M$53.91M$22.93M$23.65M$35.45M$26.22M$14.25M$9.36M
Total assets$101.73M$26.69M$14.12M$53.91M$22.93M$23.65M$35.45M$26.22M$14.25M$9.82M
Total liabilities$78.40M$5.72M$2.68M$23.12M$6.45M$11.82M$18.65M$15.62M$4.04M$827.8K
Shareholders' equity$23.33M$20.98M$11.44M$30.79M$16.48M$11.83M$16.81M$10.61M--

Cash flow

Cash flow
Line item
FY2024
Jan 31, 2025
FY2023
Jan 31, 2024
FY2022
Jan 31, 2023
FY2021
Jan 31, 2022
FY2020
Jan 31, 2021
FY2019
Jan 31, 2020
FY2018
Jan 31, 2019
FY2017
Jan 31, 2018
FY2016
Jan 31, 2017
FY2015
Jan 31, 2016
Operating cash flow$93.94M$14.61M$13.86M$62.84M$20.81M$34.59M$45.50M$29.51M$12.58M$8.22M
Investing cash flow---$9.91M$3.43M$18.79M-$8.32M-$23.34M$5.74M-$5.43M
Dividends paid$17.71M$4.59M$47.63M$37.52M$21.91M$44.08M$36.60M$19.55M$7.22M$8.92M

Key ratios

Key ratios
Line item
FY2024
Jan 31, 2025
FY2023
Jan 31, 2024
FY2022
Jan 31, 2023
FY2021
Jan 31, 2022
FY2020
Jan 31, 2021
FY2019
Jan 31, 2020
FY2018
Jan 31, 2019
FY2017
Jan 31, 2018
FY2016
Jan 31, 2017
FY2015
Jan 31, 2016
Revenue growth, YoY331.3%195.3%-89.2%175.4%-18.9%-32.4%37.1%216.8%12.0%-62.7%
Net income growth, YoY391.3%257.6%-92.3%193.8%-22.1%-34.0%36.3%242.3%14.1%-65.4%
Gross margin94.6%83.0%68.6%96.2%90.2%94.0%96.3%96.9%89.7%-
Net margin94.6%83.0%68.6%96.2%90.2%94.0%96.3%96.9%89.7%88.0%
Return on equity399.8%90.5%46.4%223.3%142.1%254.0%271.1%315.1%--
Return on assets91.7%71.1%37.6%127.5%102.1%127.1%128.5%127.5%68.5%87.2%

Source: XBRL data Mesabi Trust files with the SEC, latest filing dated Sep 11, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

MSB peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
MSB$20.79M-78.8%$17.21M82.8%$226.4M
NEM$26.61B+23.7%$9.24B34.7%$125.65B
AEM$11.91B+43.7%$4.46B37.5%$96.85B
B$16.96B+31.2%$4.99B29.4%$66.76B
WPM$2.31B+80.2%$1.47B63.6%$61.91B
FNV$1.82B+63.7%$1.11B61.0%$49.17B
AU$9.89B+70.8%$3.17B32.1%$47.03B
GFI$8.75B+68.2%$3.57B40.8%$35.06B
KGC$7.05B+36.9%$2.39B33.9%$26.21B

MSB FAQ

7 questions
  • What is MSB revenue?
    Mesabi Trust (MSB) reported $20.79M of revenue for the twelve months ended Oct 31, 2025. That is down 78.8% from the year before. Revenue for fiscal 2024 was $98.60M.
  • Is MSB profitable?
    Yes. Mesabi Trust earned $17.21M in net income for the twelve months ended Oct 31, 2025, a net margin of 82.8%.
  • How much cash and debt does MSB have?
    Mesabi Trust reported $17.39M in cash and cash equivalents on its most recent balance sheet in SEC filings.
  • How fast is MSB revenue growing?
    Mesabi Trust's revenue changed +331.3% in fiscal 2024, to $98.60M. Its compound annual growth rate was +25.2% over 5 years and +14.2% over 10 years.
  • What is MSB gross margin?
    Mesabi Trust's gross profit was $17.21M on $20.79M of revenue for the twelve months ended Oct 31, 2025, a gross margin of 82.8%.
  • When did MSB last report financial results?
    The latest statements here come from Mesabi Trust's 10-Q filed on Sep 11, 2026, covering the period ended Jul 31, 2026.
  • Where does this MSB financial data come from?
    Quantisnow builds these statements from the structured XBRL data Mesabi Trust files with the SEC. It is provided for information only and is not investment advice.