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    Manufacturing - Metal Fabrication
Tree Island Steel Ltd.

Tree Island Steel Ltd.

TSL.TO
Tree Island Steel Ltd.CA flagToronto Stock Exchange
2.21
CAD
-0.10
- -
57.19MMarket Cap
Tree Island Steel Ltd.
TSL.TO
(Toronto Stock Exchange)

Recent

price

2.21

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
11.7
13.13
13.31
12.63
6.32
7.43
7.44
7.66
8
6.9
7.5
10.61
12.66
9.16
8.48
6.73
6.21
Revenue per Share
-0.99
-1.13
0.94
-0.05
0.03
0.52
0.44
-0.05
0.09
-0.18
0.18
3.09
1.17
0.27
-0.16
-0.21
-0.25
Basic EPS, GAAP
0.13
-0.64
0.34
-0.15
-0.28
0.02
0.23
0.28
-0.42
0.83
0.76
-0.01
1.47
0.65
-0.12
-0.08
0.01
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
0.01
0.06
0.08
0.08
0.08
0.08
0.16
1.41
0.18
0.12
0.08
0.06
Dividend per Share
- -
15.19
2.23
2.21
1.52
1.92
2.28
2.04
2.09
1.77
1.86
4.75
4.52
4.62
4.43
4.27
4.14
Book Value per Share
2.37
1.28
2.28
2.29
1.52
1.86
2.21
1.94
1.99
1.68
1.77
4.66
4.51
4.58
4.47
4.27
4.16
Tangible Book Value per Share
11
11
11
12
29
31
31
31
29
29
29
28
28
28
26
25
26
Basic Weighted Avg Shares
132
150
146
153
184
231
231
235
235
200
216
302
360
255
221
171
161
Sales/Revenue/Turnover
-4.23
-1.3
0.35
2.81
2.67
6.09
7.79
1.83
3.91
1
5.51
17.31
14.04
6.56
-0.76
-1.58
-2.24
Operating Margin (%)
6
3
3
3
3
3
3
3
3
6
6
6
5
5
5
6
5
Depreciation Expense
-11
-13
10
-1
1
16
14
-2
3
-5
5
88
33
8
-4
-5
-6
Net Income, GAAP
- -
- -
4.23
- -
30.59
- -
9.55
1,229.66
45.56
- -
28.5
22.48
25.12
34.41
- -
- -
- -
Effective Tax Rate (%)
-8.47
-8.57
7.09
-0.43
0.53
6.98
5.87
-0.7
1.1
-2.59
2.38
29.14
9.21
2.96
-1.85
-3.12
-4.03
Profit Margin (%)
26
24
25
29
31
41
48
35
82
59
52
101
89
86
78
62
62
Working Capital
36
43
30
28
13
22
18
15
66
82
67
35
24
23
26
23
23
LT Debt
27
15
25
28
44
58
69
59
59
49
51
133
128
127
117
108
107
Total Equity
- -
- -
0.67
- -
4.15
- -
14.15
-41.93
4.16
- -
6.56
25.71
21.91
7.2
- -
- -
- -
Return on Invested Capital (%)
- -
- -
11.33
- -
4.29
- -
13.64
-29.2
3.6
- -
6.22
59.67
21.11
5.68
- -
- -
22.08
Return on Capital (%)
- -
-14.82
10.47
-2.54
2.75
31.09
20.79
-2.46
4.19
-9.2
9.77
93.2
25.11
5.87
-3.36
-4.76
-5.76
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
7
3
5
LT Borrowings
- -
- -
- -
LT Finance Leases
24
23
23
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
26
26
26
Market Capitalization
68
76
67

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
90
81
89
Cash, Cash Equivalents & STI
3
1
2
Accounts Receivable, Net
23
17
26
Inventories
57
54
52
Total Current Liabilities
21
18
27
Payables & Accruals
14
16
22
ST Debt
7
3
5
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
13.21%
28.04%
-7.03%
Free Cash Flow
-1,572.48%
-3,322.25%
-38.9%
Net Income, GAAP
46.53%
270.13%
30.01%
Sales/Revenue/Turnover
-1.15%
-1.23%
-22.74%
Total Cash Common Dividend
124.07%
143.17%
-38.96%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
61
58
55
48
221
2025
53
44
39
34
171
2026
43
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.02
0.02
-0.07
-0.13
-0.16
2025
- -
- -
-0.08
-0.13
-0.21
2026
-0.05
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.03
0.03
0.03
0.03
0.12
2025
0.03
0.02
0.01
0.02
0.08
2026
0.02
- -
- -
- -
- -
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Business
Tree Island Steel Ltd. is a North American manufacturer specializing in premium quality steel wire and wire products. The company's core product offerings include industrial wire (high carbon, low carbon, galvanized, and black annealed wire); nails in bulk, collated, and packaged forms; stucco reinforcement wire products (K-Lath woven and welded); agricultural fencing, rolled fencing, fence panels, welded wire reinforcement; and related accessories such as fence staples. Tree Island Steel operates manufacturing facilities across Canada and the United States, with notable locations in Richmond, British Columbia, and California. Founded in 1964 and headquartered in Vancouver, British Columbia, the company serves industrial, construction, agricultural, and fencing markets throughout North America. In recent years, Tree Island Steel has actively expanded through acquisitions, including the purchase of K-Lath Stucco Wire, Advanced Wire (now Tree Island Wire USA), Halsteel Nail plant, Industrial Wire Products, and Irving Wire Products Corporation. The company also made strategic operational adjustments by selling its stainless steel division and completing the sale and leaseback of its Etiwanda, California facility. In 2024 and 2025, Tree Island Steel focused on renewing its normal course issuer bid for share repurchases and continued to navigate challenges posed by U.S. tariffs impacting revenue. It has emphasized improving its product mix by exiting less profitable U.S. residential markets and pursuing high-margin specialized wire products for sectors like renewable energy infrastructure and advanced agricultural fencing. Additionally, the company is investing in innovation, sustainability initiatives, and advanced manufacturing technologies to enhance operational efficiency and product quality. These comprehensive product offerings, strategic acquisitions, operational refinements, and focus on innovation position Tree Island Steel as a leading supplier of diverse steel wire solutions across North America, serving a broad range of industrial and commercial customers while adapting to evolving market demands and regulatory environments. The company continues to pursue growth through portfolio optimization, new product development, and market diversification. Tree Island Steel Ltd. trades on the Toronto Stock Exchange under the ticker TSL.TO and maintains a robust presence in both Canadian and U.S. markets.

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