TSX · Steel · CAD

Tree Island Steel Ltd. (TSL.TO) Stock Analysis

Tree Island Steel Ltd. (TSL.TO) is a Steel stock listed on TSX and quoted in Canadian Dollar.

Last Updated: October 21, 2026

TSL.TO

CA$2.34

−CA$0.06 (−2.50%)

Oct 21, 2026 · Market close

Compare

Price History

Hover for the daily close. The dotted line marks the period open.

Compare TSL.TO with… →

TSL.TO Key Statistics

As of Oct 21, 2026

Trading

Open: CA$2.40
Previous Close: CA$2.40
Day's Range: 2.33–2.40
52-Week Range: 0.01–3.11
Volume: 45.21K
Beta: 0.54

Valuation

Market Cap: CA$60.48M
P/E Ratio: unprofitable
Forward P/E: 10.17
P/S ratio: 0.37
EPS (ttm): −0.27

Financials (FY)

Revenue (FY): CA$170.83M−22.74%
Net Income (FY): −CA$5.33M
Profit margin: −4.18%
Shares Outstanding: 25.85M
1-Year Return: −12.21%

Dividend and dates

Ex-Dividend Date: December 31, 2025
Earnings Date: November 10, 2026
Avg Volume: 11.69K

Only metrics the company reports are shown. Data provided by Yahoo Finance via yfinance. Updated daily.

Key facts

As of October 21, 2026, TSL.TO closed at CA$2.34, −12.21% over 1 year.

Tree Island Steel Ltd. (TSL.TO) has a market capitalization of CA$60.48M.

In fiscal 2025, TSL.TO reported revenue of CA$170.83M.

TSL.TO Stock Return by Calendar Year

Tree Island Steel Ltd. (TSL.TO) 10-year return: what CA$10,000 became

1 year: CA$10,000 CA$8,779; −12.21%
5 years: CA$10,000 CA$6,666; −33.34%
10 years: CA$10,000 CA$6,419; −35.81%

If you had invested CA$10,000 in Tree Island Steel Ltd. (TSL.TO) 10 years ago, at the close on October 21, 2016, it would have been worth CA$6,419 at the close on October 21, 2026: −35.81% in total, −4.34% a year, with dividends reinvested. A historical calculation from closing prices adjusted for splits and dividends, before fees and taxes.

Calendar-year returns computed from daily closing prices. Partial years are shown muted and marked with an asterisk.

−42.53%+102.27%−20.68%

2016*2017201820192020202120222023202420252026*

Year	Return
2026 (partial year)	−20.68%
2025	−4.47%
2024	−4.64%
2023	+8.56%
2022	−18.01%
2021	+102.27%
2020	+29.27%
2019	+5.54%
2018	−17.57%
2017	−42.53%
2016 (partial year)	+5.14%

As of October 21, 2026.

TSL.TO Revenue and Earnings by Fiscal Year

FY ends December

RevenueNet income

2022202320242025

Fiscal year	Revenue	Net income	Net margin
2025	CA$170.83M	−CA$5.33M	−3.1%
2024	CA$221.11M	−CA$4.10M	−1.9%
2023	CA$254.57M	CA$7.55M	3.0%
2022	CA$359.56M	CA$33.11M	9.2%

Fiscal year	Revenue	Gross profit	Operating income	Net income	Net margin
2025	CA$170.83M	CA$9.45M	−CA$2.69M	−CA$5.33M	−3.1%
2024	CA$221.11M	CA$11.79M	−CA$1.69M	−CA$4.10M	−1.9%
2023	CA$254.57M	CA$30.29M	CA$16.70M	CA$7.55M	3.0%
2022	CA$359.56M	CA$65.33M	CA$50.48M	CA$33.11M	9.2%

Annual figures as reported, in the company's reporting currency. As of December 31, 2025.

TSL.TO Dividend History

’16’17’18’19’20’21’22’23’24’25

CA$0.06−50.0% vs 2024

Dividends per share, 2025 · 4 payments

Year	Dividends per share	Payments	Change
2025	CA$0.06	4	−50.0%
2024	CA$0.12	4	−25.0%
2023	CA$0.16	4	−88.4%
2022	CA$1.38	4	+527.3%

Year	Dividends per share	Payments	Change
2025	CA$0.06	4	−50.0%
2024	CA$0.12	4	−25.0%
2023	CA$0.16	4	−88.4%
2022	CA$1.38	4	+527.3%
2021	CA$0.22	4	+175.0%
2020	CA$0.08	4	+0.0%
2019	CA$0.08	4	+0.0%
2018	CA$0.08	4	+0.0%
2017	CA$0.08	4	+300.0%
2016	CA$0.02	1	—

Most recent payment: CA$0.02 per share, ex-dividend December 31, 2025. Per-share amounts summed by calendar year from ex-dividend dates. Partial years are shown muted and marked with an asterisk.

TSL.TO Valuation vs Steel Median

Median of 25 stocks

Metric	TSL.TO	Steel median	vs median
P/S ratio	0.37	0.81	54% below
Profit margin	−4.18%	3.05%	7.2 pts below

Medians across 25 Steel stocks that report the metric. Medians, not averages, so one outlier cannot move them. As of October 21, 2026.

Analysis

Data-derived

Company Overview

Tree Island Steel Ltd. (TSL.TO) carries a market capitalisation of CA$60.48M. The company sits in the Basic Materials sector, in the Steel industry. Headcount on file is 300.

The 52-week range on file runs from CA$0.01 to CA$3.11. The most recent close on file for TSL.TO is CA$2.34, dated October 21, 2026. That is −CA$0.06 (−2.50%) against the previous close. The latest close sits 23,300% above that 52-week low.

Financial Health

Fiscal 2025 revenue came to CA$170.83M. Against the prior fiscal year total of CA$221.11M, that is a change of −22.74%. The same year closed with a net loss of CA$5.33M. Profit margin runs at −4.18%. That is 7.2 percentage points below the Steel median of 3.05%. Earnings per share on a trailing basis come to −0.27.

Across the 4 fiscal years on file, revenue moves from CA$359.56M in 2022 to CA$170.83M in 2025. Of those 4 years, 2 report positive net income.

Valuation Assessment

No trailing P/E applies: the last reported earnings figure is negative. The forward P/E on file is 10.17. The price-to-sales ratio is 0.37. On price-to-sales that is 54.48% below the Steel median of 0.81. The medians here are taken across 25 Steel companies that report the metric.

Beta against the wider market is reported at 0.54. Annualized volatility over the trailing 10 years is 43.22%. The trailing one-year total return is −12.21%. Measured over 10 years, that is −4.34% a year compounded.

Growth & Income

The latest dividend on file for TSL.TO dates from 2025. Dividends are recorded for 10 calendar years; 2025 shows 4 payments totalling CA$0.06 a share. The year before, 2024, totalled CA$0.12 a share.

Across the complete calendar years on file, 2021 returned +102.27% and 2017 returned −42.53%. Of the 9 complete calendar years on file, 4 finished higher. So far in 2026 the total return is −20.68%.

Peer Comparison

Tree Island Steel Ltd. (TSL.TO) operates in the Steel industry. Here is how it compares to its closest peers by market capitalization:

Company	Ticker	Market Cap	P/E Ratio
Tree Island Steel Ltd.	TSL.TO	CA$60.48M	—
Nucor Corporation	NUE	$60.02B	21.1
ArcelorMittal S.A.	MT	$47.73B	26.8
Steel Dynamics, Inc.	STLD	$35.54B	18.3

Market caps are shown in each company's own trading currency, without conversion, and the peers are listed in order of these unconverted figures.

The Steel industry average P/E ratio is 21.8x. Tree Island Steel Ltd. has no P/E ratio because it is not currently profitable.

Every figure above is read from this page's own data on each daily rebuild. Informational only, not financial advice. As of October 21, 2026.

Related Steel Stocks

NUE

Nucor Corporation

$60.02B

ArcelorMittal S.A.

$47.73B

STLD

Steel Dynamics, Inc.

$35.54B

Reliance, Inc.

$21.50B

PKX

POSCO Holdings Inc.

$16.89B

GGB

Gerdau S.A.

$10.28B

View all Steel stocks →

Popular Basic Materials Stocks

LIN

Linde plc

$230.75B

BHP

BHP Group Limited

$211.50B

SCCO

Southern Copper Corporation

$167.24B

RIO

Rio Tinto Group

$141.37B

NEM

Newmont Corporation

$123.47B

View all Basic Materials stocks →

About Tree Island Steel Ltd.

Tree Island Steel Ltd. manufactures and sells steel wire and fabricated steel wire products in Canada, the United States, and internationally. It offers industrial wire that include high and low carbon wires and black annealed wires; nails, such as bulk, packaged, and collated nails; agricultural products, including rolled fencing, fence panels, and agricultural wires; and welded wire reinforcement products. The company also provides woven and welded wires, corners, and accessories. It markets its products under the Tree Island, Halsteel, True Spec, K-Lath, TI Wire, Tough Strand, and ToughPanel brand names. The company was formerly known as Tree Island Wire Income Fund and changed its name to Tree Island Steel Ltd. in October 2012. Tree Island Steel Ltd. was founded in 1964 and is based in Richmond, Canada.

Visit website →