How does Trendshare evaluate MIND as a worked example?

This example shows how we apply the Trendshare checklist to MIND: earnings power, cash generation, valuation, and margin of safety. We look at business quality, free cash flow trends, price to earnings, and whether there is a reasonable margin of safety at the current price of 4.01.

Mitcham Industries Stock Price and Value Analysis

Mitcham Industries (NasdaqGS:MIND) in our automated value investing analysis, with the cash flow history and price comparison below.

Key Facts

Ticker: MIND (NasdaqGS)
Current price: $4.01
Sector: Unknown
Industry: Unknown

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Hold-time calculator

Estimate how long you need to hold Mitcham Industries to reach your target.

Target type Target price Target total return %

Current price

Expected annual return (compound annual growth rate, CAGR)

Margin of safety (%)

Target price (Trendshare FV)

Include dividend yield
N/A

MIND Free Cash Flow Trend

Free Cash Flow trendline for MIND — Free Cash Flow trendline for Mitcham Industries

CSV

Based on historical returns, we believe that Mitcham Industries can grow its free cash at a rate of about 5%. That's positive!

Advantages	Disadvantages	Neutral
This company is solid. This stock is available at a great discount!	This company has wild ups and downs. This company is making money at a modest rate.	This company pays no dividend.

Inside the MIND Numbers

	MIND Price (Mitcham Industries stock price per share)	$4.01
× PE Ratio Versus Sector The PE ratio measures the reported earnings of a company to its current stock price. While earnings are easy to manipulate on the balance sheet, this ratio gives you a sense of what buyers are willing to pay for the stock—what they believe it will do in the future. Comparing a stock's PE to the average PE of companies in its industry gives you a sense of market sentiment about the stock and how well it fares financially. It's not the only number, nor the most important, but comparing similar companies is valuable. A ratio far above or below that of its peers is significant. Industries are more specific than sectors, so companies within most industries are more similar than are companies within an industry. Be aware that the size and customers of companies are important to their prospects. Close ^[?]	PE Ratio versus Sector	187% higher than other Unknown stocks
× PE Ratio Versus Industry The PE ratio measures the reported earnings of a company to its current stock price. While earnings are easy to manipulate on the balance sheet, this ratio gives you a sense of what buyers are willing to pay for the stock—what they believe it will do in the future. Comparing a stock's PE to the average PE of companies in its sector gives you a sense of market sentiment about the stock and how well it fares financially. It's not the only number, nor the most important, but comparing similar companies is valuable. A ratio far above or below that of its peers is significant. Be aware that sectors are very broad, with many types of companies in the same sector. Close ^[?]	PE Ratio versus Industry	55% higher than other Unknown stocks
× Cash Yield The cash yield of a stock is the ratio of free cash per share—real dollars available after bringing in revenue and paying bills—to the current price of the stock. It's similar to the PE ratio, but it's less prone to manipulation through accounting practices. In general, the less you have to pay to make more money, the better. Close ^[?]	Cash Yield	116.06%
× Free Cash Flow Jitter The free cash flow jitter of a stock measures how much the company's free cash flow varies from its historical trend, on average. While it's always nice to make more money than you expected, a company with predictable free cash flow is stable and good. A company with wild swings in its free cash flow warrants further research. In general, the lower this number, the better. Close ^[?]	Free Cash Flow Jitter	68%

Insider Activity Summary

No open-market insider buys or sells are recorded for the last 12 months.

This stock has short interest! This means that people have shorted it.

Why does that matter? They've made a bet that price will decrease from where they bought it. Maybe there are financial problems, or maybe there's a value play.

As of the latest analysis, there are 402,039 shares shorted. With 8,920,362 shares available for purchase and an average trading volume over the past 10 trading days of 130,710, it would take at least 3.1 days for all of the short holders to cover their shorts.

Estimate Intrinsic Value (DCF)

Project future free cash flow and discount it back to today to compare market price vs intrinsic value. See how compound returns work over time.

📊 Intrinsic Value Calculator (DCF Method)

Calculate the present value of future cash flows to determine stock intrinsic value.

Annual Free Cash Flow ($):

Current or most recent year free cash flow (operating cash - capex)

Expected Annual Growth Rate (%):

Conservative estimate (3-7% for mature companies, 10-20% for growth)

Discount Rate (%):

Required rate of return (8-10% stable, 12-15% growth, 15%+ speculative)

Projection Period (Years):

Longer projections are less certain but may reveal more value

Terminal Value Multiple:

Exit multiple for terminal value (10-15x typical for mature companies)

Calculation Results

Total Intrinsic Value:

Discounted Cash Flows:

Terminal Value (PV):

Year	Future CF	Present Value

How to use this result: Compare the intrinsic value to the current stock price. If intrinsic value is significantly higher than market price (30-50% margin of safety), the stock may be undervalued. Remember, these are estimates based on your assumptions.

Learn to Evaluate MIND

Learn how to evaluate stocks, understand expected returns, and build a value investing strategy.

See How Returns Compound →

Free Cash Flow by Fiscal Year

Each year names the SEC filer that reported it, so a change of filer shows up here.

Fiscal year	SEC filer (CIK)	Free cash flow (USD millions)
2009	926423	13.6
2010	926423	29.7
2011	926423	35.2
2012	926423	43.4
2013	926423	20.4
2014	926423	24.4
2015	926423	14.3
2016	926423	2.6
2017	926423	0.3
2018	926423	-5.9
2019	926423	-6.4
2020	926423	-6.9
2021	926423	-17.8
2022	926423	-3.6
2023	926423	-5.5
2024	926423	0.2
2025	926423	2.0

Download the yearly data as CSV.

Price Versus Our Estimated Value

Free cash flow was positive in 11 out of 17 reported years for Mitcham Industries, using only its current SEC filer.

With the price at $4.01, Mitcham Industries is below both our safe value ($48.84) and our fair value ($75.14).

Year-to-year variability in free cash flow is volatile, measured at 68%.

Dividends are not in our data for Mitcham Industries.

These figures are automated calculations from SEC filings and the recent price. They are not a recommendation to buy or sell. See how we estimate value.

SEC Filer History

Every fiscal year on this page is reported by one SEC filer, CIK 926423.

Each figure on this page comes from that filer.

Risks to This Analysis

Free cash flow was negative in 6 of the 17 years we have.
Free cash flow is volatile from year to year, so the estimates depend heavily on which years are included.
This page's data was last updated on 2026-09-18. Prices and filings may have changed since.
These figures are automated calculations from SEC filings and the recent price. They may contain errors, and they do not reflect lawsuits, management changes, or other events the filings do not show.

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Questions to Answer Before You Invest in MIND

Does Mitcham Industries have a coherent story? Does it have a plan to continue to make money? Is it worth your time? Only you can decide where to go from here. Our investment guide helps you ask the right questions, including how to buy stocks. Use these research links for more information.

Step 1 — Snapshot
- Price: 4.01
- Market cap: $36M
- EPS: -0.27
Step 2 — Valuation checks
- P/E: —
- FCF yield: 116.1%
- Date checked: Sep 18, 2026
Step 3 — Margin of safety
- Compare price to fair value and safety price.
- Look for durable cash generation and reasonable leverage.
- Decide if it passes your personal checklist.