Mesabi TrustMSB -3.52%75 Net Current Asset Value is $1.40 as of Apr. 2026, which is 92% below its 10-year median of 18.58. GuruFocus rates MSB with a GF Score™ of 75/100 and a GF Value™ of $18.16 (Significantly Overvalued). The stock has 4 warning signs investors should review. Among 369 Steel companies, Mesabi Trust ranks worse than 89.97% on this metric.
In calculating the Net Current Asset Value (NCAV), Benjamin Graham means a company's current assets (such as cash, marketable securities, and inventories) minus its total liabilities (including preferred stock, minority interest, and long-term debt).
Mesabi Trust's net current asset value per share for the quarter that ended in Apr. 2026 was $1.40.
The historical rank and industry rank for Mesabi Trust's Net Current Asset Value or its related term are showing as below:
MSB'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 3.32 Med: 18.58 Max: 38.38
Current: 17.06
During the past 13 years, the highest Price-to-Net-Current-Asset-Value Ratio of Mesabi Trust was 38.38. The lowest was 3.32. And the median was 18.58.
MSB's Price-to-Net-Current-Asset-Value is ranked worse than 89.97% of 369
companies
in the Steel industry
Industry Median: 2.97
vs MSB: 17.06
Mesabi Trust (NYSE:MSB) Net Current Asset Value Explanation
Benjamin Graham first discussed net current asset value (NCAV) in the 1934 edition of "Security Analysis", which he coauthored with David Dodd. In the book, (net) current asset value is defined as:" current assets alone, minus all liabilities and claims ahead of the issue."
The common definition of NCAV is: NCAV = current assets – [total liabilities + minority interest + preferred stock]
Net current assets exclude not only the intangible assets but also the fixed and miscellaneous assets. In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. In "Security Analysis", preferred stock is dubbed "an imperfect creditorship position" that is best placed on the balance sheet alongside funded debt.
One research study, covering the years 1970 through 1983 showed that portfolios picked at the beginning of each year, and held for one year, returned 29.4 percent, on average, over the 13-year period, compared to 11.5 percent for the S&P 500 Index. Other studies of Grahams strategy produced similar results.
Benjamin Graham looked for companies whose market values were less than two-thirds of their Net-Net Working Capital. They are collected under our Net-Net screener.
Mesabi Trust Net Current Asset Value Related Terms
Mesabi Trust Net Current Asset Value Historical Data
* Premium members only.
The historical data trend for Mesabi Trust's Net Current Asset Value can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
MSB vs FRD, INHD, LUD: Net Current Asset Value Comparison
For the Steel subindustry, Mesabi Trust's Price-to-Net-Current-Asset-Value, along with its competitors' market caps and Price-to-Net-Current-Asset-Value data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Mesabi Trust Price-to-Net-Current-Asset-Value vs Steel Industry
For the Steel industry and Basic Materials sector, Mesabi Trust's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where Mesabi Trust's Price-to-Net-Current-Asset-Value falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
What does a Net Current Asset Value of $1.40 mean?
Mesabi Trust (MSB) has a Net Current Asset Value of $1.40 as of Apr. 2026. Ben Graham's net current asset value equals the per-share value of total current assets less total liabilities. View historical data on Mesabi Trust and its competitors. This is 92% below median its historical median of 18.58. Over the past decade, Mesabi Trust's Net Current Asset Value has ranged from 3.32 to 38.38. According to the industry distribution chart, Mesabi Trust ranks #332 out of 369 companies in the Steel industry, placing it in the top 90%.
Is Mesabi Trust's Net Current Asset Value too high?
Mesabi Trust's current Net Current Asset Value of $1.40 is 92% below median its 10-year median of 18.58. Over the past 10 years, this metric has ranged from a low of 3.32 to a high of 38.38. The Steel industry median Net Current Asset Value is 2.97. Mesabi Trust's value of $1.40 is 52.9% below this industry median. Based on the distribution chart, Mesabi Trust ranks #332 out of 369 companies in the Steel industry, which is in the bottom quartile relative to peers. Overall, Mesabi Trust has a GF Score™ of 75/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Mesabi Trust's Net Current Asset Value compare to FRD and INHD?
According to the Steel industry distribution chart, Mesabi Trust ranks #332 out of 369 companies for Net Current Asset Value. This places Mesabi Trust in the lower half of its industry. The industry median Net Current Asset Value is 2.97. Mesabi Trust's value of $1.40 is 52.9% below this benchmark. Historically, Mesabi Trust's own Net Current Asset Value has ranged from 3.32 to 38.38 over the past decade. While the company's 10-year median is 18.58 vs. the industry median of 2.97, Mesabi Trust has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Net Current Asset Value for a Steel company?
The median Net Current Asset Value among Steel companies is 2.97, based on 369 companies in the industry. Companies in the top quartile (top 25%) have a Net Current Asset Value significantly above this median, while those in the bottom quartile fall well below. However, Net Current Asset Value should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Mesabi Trust's current Net Current Asset Value of $1.40 is 52.9% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Net Current Asset Value mean?
A high Net Current Asset Value can signal that a stock is expensive relative to its fundamentals. Ben Graham's net current asset value equals the per-share value of total current assets less total liabilities. View historical data on Mesabi Trust and its competitors. For the Steel industry, the median Net Current Asset Value is 2.97 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Mesabi Trust's current Net Current Asset Value is $1.40, which is 92% below median its own 10-year median of 18.58. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Mesabi Trust stock overvalued right now?
Based on GuruFocus' analysis, Mesabi Trust (MSB) is currently considered Significantly Overvalued. The stock's GF Value™ is $18.16, compared to a current price of $23.88 — trading 31.5% above its estimated fair value. The current Net Current Asset Value is $1.40, which is 92% below median its 10-year median of 18.58 and 52.9% below the Steel industry median of 2.97. Mesabi Trust's overall GF Score™ is 75/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Net Current Asset Value calculated?
Net Current Asset Value is calculated from a company's financial statements. For Mesabi Trust (MSB), the current Net Current Asset Value is $1.40 as of Apr. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Mesabi Trust (MSB) Overvalued in 2026?
Based on GuruFocus' analysis, Mesabi Trust stock appears to be overvalued.
The current stock price of $23.88 is trading 31.5% above its estimated GF Value™ of $18.16.
GuruFocus considers Mesabi Trust to be Significantly Overvalued.
Key valuation signals for MSB:
Net Current Asset Value: $1.40 (92% below median its 10-year median of 18.58)
GF Value™: $18.16 vs. price of $23.88 (31.5% above fair value)
Industry Position: 52.9% below the Steel median (#332 of 369)
No single metric tells the full story. See the MSB stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Mesabi Trust operates as a royalty trust in the United States. The company is involved in the conservation and protection of its assets. The company's principally wholly-owned segment is the iron ore mining segment, which generates income from the Peter Mitchell Mine, an iron mine located near Babbitt, Minnesota, at the northeastern end of the Mesabi Iron Range.
75GF Score
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