The Globe and Mail reports in its Thursday edition that Martinrea International's valuation statistics are compelling. The Globe's guest columnist Robert Tattersall writes that at a recent price of $11.30, the stock trades at 55 per cent of book value and three times its enterprise value to earnings before interest, taxes, depreciation and amortization ratio. To be fair, most investors would regard Martinrea as an old-economy stock, but the company has not stood still. Over the past five years, revenues have grown at a little over 5 per cent a year, asset turnover has recovered from a COVID-19 slump and balance sheet leverage has been reduced steadily. As a result, return on shareholder equity has stabilized at about 10 per cent. Note that return on equity is based on shareholder book value and today's investors are only being asked to pay 55 per cent of book value. So, the return on the equity is almost double that number at 18 per cent. When stocks trade at a bargain-basement price, there are always a few negatives on the horizon. In the case of Martinrea, its customer base remains in some turmoil as the transition to electric vehicles is not going smoothly. Still, Martinrea remains a core holding for Mr. Tattersall.