Stocks Industrials MSB
NYSE · IndustrialsMesabi Trust (MSB)
Mesabi Trust reported revenue of $98.6M in fiscal 2025, up 331.3% from a year earlier. Net income was $93.3M, a net margin of 94.6%. At July 31, 2026 it held $17.4M in cash. Its latest periodic report to the SEC is the quarterly report (10-Q) filed on September 11, 2026.
Key facts about Mesabi Trust
- Net worth
- Mesabi Trust has a market value (market cap) of $222M at the latest share price, and shareholders' equity of $17.6M on its balance sheet at July 31, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
- Revenue and profit
- In fiscal 2025 revenue was $98.6M (+331.3% year on year), with net income of $93.3M.
- Cash flow
- In fiscal 2025 operations brought in $93.9M of cash.
- Latest report
- The latest periodic report (quarterly report, 10-Q) was filed with the SEC on September 11, 2026 and covers the period to July 31, 2026. Open on SEC EDGAR
- Next earnings report
- Mesabi Trust's next report is expected around December 25, 2026. That is an estimate from its filing rhythm, not a date the company has announced.
What Mesabi Trust does
Mesabi Trust is registered with the SEC under industry code SIC 6795 (Mineral Royalty Traders). Its shares trade on NYSE under the ticker MSB.
Revenue and profit by year
Key figures
| Fiscal year | Revenue | Net income | Diluted EPS | Free cash flow |
|---|---|---|---|---|
| 2025 | $98.6M | $93.3M | $7.11 | n/a |
| 2024 | $22.9M | $19M | $1.45 | n/a |
| 2023 | $7.7M | $5.3M | $0.41 | n/a |
| 2022 | $71.5M | $68.8M | $5.24 | n/a |
| 2021 | $26M | $23.4M | $1.78 | n/a |
| 2019 | $32M | $30.1M | $2.29 | n/a |
Earnings: every quarter and the next report date
Full financial statements: income, balance sheet and cash flow
Where MSB ranks in Industrials
Dividends
It paid out $17.7M in cash dividends, 19% of its net income.
| Fiscal year | Per share | Paid out | Of profit |
|---|---|---|---|
| 2025 | n/a | $17.7M | 19% |
| 2024 | n/a | $4.6M | n/a |
| 2024 | n/a | $4.6M | 24% |
| 2023 | n/a | $47.6M | 897% |
| 2022 | n/a | $37.5M | 55% |
| 2021 | n/a | $21.9M | 94% |
Latest SEC filings
What Mesabi Trust has filed recently, newest first. Each links to the original document on SEC EDGAR.
- November 9, 2026Passive stake changed SCHEDULE 13G/A
- November 2, 2026
- October 15, 2026
- September 11, 2026Quarterly report 10-Q · period to July 31, 2026Revenue fell 56% to $2.5M versus the same quarter last year; diluted EPS -$0.01 versus $0.36.
- July 31, 2026
- July 14, 2026
- June 12, 2026Quarterly report 10-Q · period to April 30, 2026Revenue fell 53% to $2.2M versus the same quarter last year; diluted EPS $0.08 versus $0.28.
- May 4, 2026
- April 29, 2026Passive stake changed SCHEDULE 13G/A
- April 22, 2026
Insider trades
What the people running Mesabi Trust did with its shares, from the Form 4 filings they must send the SEC within two business days.
No insider trades were reported in the last 90 days.
Who owns MSB
Three views from three kinds of SEC filings, each with its own date. They overlap and are not added up.
5% holders
| Holder | Of class | Filed |
|---|---|---|
| Horizon Kinetics Asset Management LLC13G, passive with 1 related filers | 23.9% | April 29, 2026 |
| Valueworks LLC13G, passive with 1 related filers | 5.23% | August 14, 2025 |
Largest institutional holders
Positions that investment managers reported on Form 13F for the quarter ended June 30, 2026, largest first, with the change on the quarter ended March 31, 2026. Managers file 13F up to 45 days after a quarter ends. 62 managers reported a position.
| Holder | Shares | Change on quarter |
|---|---|---|
| Horizon Kinetics Asset Management LLC | 3,219,382 | +78,410 |
| Valueworks LLC | 669,733 | +23,151 |
| CWA Asset Management Group, LLC | 518,974 | +71,489 |
| First Manhattan Co. LLC. | 396,373 | +86,313 |
| Mad River Investors | 323,735 | +2,189 |
| Advisory Services Network, LLC | 185,669 | +1,040 |
| Moors & Cabot, Inc. | 178,289 | -2,656 |
| EagleClaw Capital Managment, LLC | 170,575 | +800 |
| Morgan Stanley | 113,293 | -752 |
| Bank of New York Mellon Corp | 101,464 | +1,266 |
| Sei Investments Co | 83,883 | -83,883 |
| Lido Advisors, LLC | 79,982 | +1 |
| Geode Capital Management, LLC | 59,649 | +2,139 |
| Royal Bank of Canada | 54,825 | +3,709 |
| Bank of America Corp | 44,658 | -133,223 |
| Jpmorgan Chase & Co | 36,572 | +268 |
| Pecaut & Co. | 33,963 | 0 |
| Lanark Financial, Inc. | 30,742 | 0 |
| HighTower Advisors, LLC | 25,616 | -900 |
| Steward Partners Investment Advisory, LLC | 24,638 | +378 |
Insiders
Questions about MSB
What does Mesabi Trust do?
Mesabi Trust is a company in the Industrials sector, listed on NYSE as MSB. Its shares trade on NYSE under the ticker MSB.
What is Mesabi Trust's net worth?
Mesabi Trust has a market value (market cap) of $222M at the latest share price, and shareholders' equity of $17.6M on its balance sheet at July 31, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
Is Mesabi Trust profitable?
Yes. In fiscal 2025 it reported net income of $93.3M on revenue of $98.6M, a net margin of 94.6%.
How much revenue does Mesabi Trust make?
In fiscal 2025 Mesabi Trust reported revenue of $98.6M. That is 331.3% more than a year earlier.
When did Mesabi Trust last report?
Its most recent periodic report is the quarterly report (10-Q) filed on September 11, 2026. It covers the period to July 31, 2026. Its newest filing of any kind is the passive stake changed from November 9, 2026.
When is Mesabi Trust's next earnings report?
Mesabi Trust's next report is expected around December 25, 2026. That is an estimate from its filing rhythm, not a date the company has announced.
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Where the numbers come from
Financial figures are the values Mesabi Trust tagged in its own SEC filings (XBRL), taken from the latest filing for each period, so restatements replace older figures. Revenue, profit and cash flow are for full fiscal years unless marked as the last twelve months, which is the sum of the four most recent quarters. Where a company reports only the full year, the fourth quarter is the year minus the first three.
Prices are delayed end-of-day market data in the listing currency, and market cap moves with the price. P/E is shown only when earnings per share are positive. Nothing here is investment advice.