Is Mesabi Trust overvalued or undervalued?

As of 21 November 2025, the valuation grade for Mesabi Trust has moved from attractive to very attractive, indicating a strong potential for upside. The company appears to be undervalued based on its low P/E ratio of 4, a PEG ratio of 0.01, and an EV to EBITDA of 2.64, which are significantly lower than industry averages. In comparison, Ryerson Holding Corp. has a P/E of -32.11 and Metallus, Inc. has a P/E of -61.98, both indicating higher risk profiles.
Despite recent stock performance showing a decline of 12.87% over the past week compared to a 1.95% drop in the S&P 500, Mesabi Trust has demonstrated a positive YTD return of 8.11% against the S&P 500's 12.26%. Over the last year, the company's return of 14.51% also outperformed the S&P 500's 11.00%, reinforcing the notion that it may be undervalued relative to its potential.