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 improvement in its valuation outlook. The company appears to be undervalued, supported by a P/E ratio of 4, a PEG ratio of 0.01, and an EV to EBITDA ratio of 2.64. In comparison to peers, Ryerson Holding Corp. has a significantly higher P/E ratio of -32.11, while Metallus, Inc. shows a P/E of -61.98, reinforcing Mesabi Trust's favorable valuation position.
Despite recent underperformance against the S&P 500 over the 1-week and 1-month periods, where it returned -6.36% and -9.37% respectively, the company has outperformed the index year-to-date with a return of 14.27% compared to the S&P 500's 12.26%. This suggests that while short-term fluctuations may be present, the long-term valuation metrics indicate a compelling investment opportunity.