ASTL Basic Materials

Algoma Steel Group Inc.

$5.32+7.69%

Price as of close on Nov 3, 2026 · Financials updated Oct 1, 2026

Basics

Sector: Basic Materials
Industry: Steel
Country: Canada
Market cap: 562.1M USD
Enterprise value: 710.7M USD
Full-time employees: 2,400

Overall health

Drawback: less profitable than most peersless profitable than peers
Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings
Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 1.64 vs a peer median of 0.69) and more debt relative to equity (0.99× vs a peer median of 0.36×)higher risk: bigger price swings (beta 1.64 vs peers 0.69) and more debt vs equity (0.99× vs peers 0.36×)
Not enough data: growth

Would rank #1,207 of 1,217 fully scored basic materials companies (bottom 1%)

Partial overall score — 3/4 categories available.

See how it ranks against its peers

Worth knowing

Paying shareholders without free cash flow. Paid out CAD 73M over the 3 fiscal years to FY Dec 2025 with -CAD 784M of free cash flow.
Algoma Steel returned CAD 73M in buybacks and dividends over three fiscal years while its free cash flow totalled -CAD 784M. The money came from its cash pile or from borrowing.
Operating margin at a 6-year low. -64% in FY Dec 2025, the weakest of the last 6 years.
Algoma Steel's operating margin fell to -64% in FY Dec 2025, its lowest in the 6 years of filings we have.
Investment surge. Capital spending 16% of revenue, up from 4.4% in FY Mar 2022.
Algoma Steel is spending 16% of revenue on facilities and equipment, up from 4.4% in FY Mar 2022. That weighs on free cash flow today; whether it pays off depends on the returns those investments earn.
Not profitable yet. Reported a loss in the 12 months to December 2025.
Algoma Steel reported a net loss over the last twelve months, so earnings-based measures can't show it as cheap.

StockQuotient Score

6/ 100

Oct 5 6 → Nov 4 6

Valuation

Is the price right?

8/100

Weak

3/3 inputs reported · High confidence

Since last year: No major changeValuation also moves with the share price every day.

Why

Weaker than most peers on:

▼ Earnings yield
▼ EBITDA yield
▼ FCF yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield-125.0%

SEC filings (IFRS mapped) · 12 months to Dec 2025 · CAD→USD at the current rateNegative (a loss or cash outflow), so it counts as zero whatever the share price30% base weight · Z-score -1.00Sector median: 0.0364 · MAD: 0.0364

EBITDA yield-27.8%

Yahoo Finance fallback · SEC enterprise value unavailable (debt or EBITDA not reported in standard form) · trailing 12 months · CAD→USD convertedNegative (a loss or cash outflow), so it counts as zero whatever the share price50% base weight · Z-score -1.64Sector median: 0.0854 · MAD: 0.0520

Free cash flow yield-50.1%

SEC filings (IFRS mapped) · 12 months to Dec 2025 · CAD→USD at the current rate · operating cash flow − capital spendingNegative (a loss or cash outflow), so it counts as zero whatever the share price20% base weight · Z-score -1.00Sector median: 0.0261 · MAD: 0.0261

Other data (not scored)

Book yield62.3%

SEC filings (IFRS mapped) · latest balance sheet · CAD→USD at the current rateReported valueInformational · 0% composite weightSector median: 0.5947 · MAD: 0.3137

Growth

Is it growing?

Insufficient data

Insufficient data: 0 of 3 inputs reported (at least 2 needed). We leave it blank rather than fill the gap with a made-up middle value.

Profitability

Does it earn well?

0/100

Weak

3/3 inputs reported · High confidence

Since last year: ▼ Weaker

Turned to a loss over the last 12 months
Operating margin fell 69.6 points to -63.6%

Why

Weaker than most peers on:

▼ Operating margin
▼ ROA
▼ ROIC

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin-63.6%

SEC filings (IFRS mapped) · 12 months to Dec 2025Outlier capped at sector 5th/95th percentile33% base weight · Z-score -4.60Sector median: 0.0757 · MAD: 0.0617

Return on assets-46.5%

SEC filings (IFRS mapped) · 12 months to Dec 2025Outlier capped at sector 5th/95th percentile33% base weight · Z-score -3.78Sector median: 0.0249 · MAD: 0.0265

Return on invested capital-116.7%

SEC filings (IFRS mapped) · 12 months to Dec 2025Outlier capped at sector 5th/95th percentile33% base weight · Z-score -3.22Sector median: 0.0675 · MAD: 0.0575

Other data (not scored)

Gross margin-31.9%

SEC filings (IFRS mapped) · 12 months to Dec 2025Outlier capped at sector 5th/95th percentileInformational · 0% composite weightSector median: 0.2138 · MAD: 0.1202

Return on equity-200.5%

SEC filings (IFRS mapped) · 12 months to Dec 2025Outlier capped at sector 5th/95th percentileInformational · 0% composite weightSector median: 0.0537 · MAD: 0.0694

Risk

Debt, liquidity, price swings

Higher

Higher relative risk

3/3 inputs reported · High confidence

Since last year: ▼ Weaker

Operating profit now covers interest only 0.0x

Why

Weaker than most peers on:

▼ Beta
▼ Debt / equity

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta1.64

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -3.36Sector median: 0.6950 · MAD: 0.2810

Current ratio2.18×

SEC filings (IFRS mapped) · latest balance sheetReported value33% base weight · Z-score 0.61Sector median: 1.7610 · MAD: 0.6770

Debt / equity0.99×

SEC filings (IFRS mapped) · latest balance sheetReported value33% base weight · Z-score -2.14Sector median: 0.3578 · MAD: 0.2929

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Algoma Steel

Is Algoma Steel getting weaker?: Its latest SEC filing (Mar 12, 2026) got weaker in some ways: turned to a loss over the last 12 months; operating margin fell 69.6 points to -63.6%. Its overall score is unchanged at 6/100 since Oct 28, 2026.
How is Algoma Steel valued vs its peers?: Priced higher than most peers relative to what it earns. Valuation scores 8/100 against 1,371 basic materials peers. Earnings yield -125.0% vs a peer median of 3.6% (weaker than 100% of peers).Earnings yield -125.0% vs peers 3.6% (weaker than 100% of peers).
Is Algoma Steel growing?: Insufficient data: 0 of 3 inputs reported (at least 2 needed).
How profitable is Algoma Steel?: Less profitable than most of its peers. Profitability scores 0/100 against 1,371 basic materials peers. Operating margin -63.6% vs a peer median of 7.6% (weaker than 100% of peers).Operating margin -63.6% vs peers 7.6% (weaker than 100% of peers).
How risky is Algoma Steel?: Higher risk relative to 1,371 basic materials peers, judged on debt, liquidity and share-price swings. Current ratio 2.18× vs a peer median of 1.76× (stronger than 63% of peers).Current ratio 2.18× vs peers 1.76× (stronger than 63% of peers). Beta 1.64 vs a peer median of 0.69 (weaker than 93% of peers).Beta 1.64 vs peers 0.69 (weaker than 93% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Year ended Dec 31, 2025 · filed Mar 12, 2026 · compared with the year ended Mar 31, 2024

Got weaker

Turned to a loss over the last 12 months
Operating margin fell 69.6 points to -63.6%
12-month revenue fell 25.4%
Operating profit now covers interest only 0.0x

Worth watching: Algoma Steel is in the bottom fifth of its sector on profitability. From 2021 to 2025, 63% of companies in that position posted a loss over the following year, against 4% for the top fifth.

	Previous year	Latest year	Change
Revenue (12 months)	2.8B CAD	2.1B CAD	−25.4%
Net income (12 months)	105.2M CAD	−984.9M CAD	turned negative
Operating margin	6.0%	-63.6%	−69.6 pts
Free cash flow (12 months)	−195.2M CAD	−394.6M CAD	+102.2%
Debt	507.8M CAD	483.8M CAD	−4.7%
Cash	266.9M CAD	77.5M CAD	−71.0%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one year at a time.

Financials

Fiscal years from SEC annual filings · change vs the prior year · amounts in CAD, as reported

Key ratios	FY Mar 2021	FY Mar 2022	FY Mar 2023	FY Mar 2024	FY 2025	Change
Gross margin	8.8%	39.8%	14.0%	10.1%	-31.9%	▼ 42 pts
Operating margin	4.7%	37.1%	10.5%	6.0%	-63.6%	▼ 70 pts
Net margin	-4.2%	22.5%	10.7%	3.8%	-47.2%	▼ 51 pts
Return on assets (ROA)	-4.9%	31.8%	12.2%	3.9%	-46.5%	▼ 50 pts
Return on equity (ROE)	-43.8%	54.2%	20.4%	7.0%	-200.5%	▼ 208 pts
Free cash flow margin	-3.5%	28.8%	-7.0%	-7.0%	-18.9%	▼ 12 pts
Current ratio	2.42×	3.57×	3.98×	2.95×	2.18×	▼ 26%
Quick ratio	1.23×	2.67×	1.87×	1.06×	1.03×	▼ 2.8%
Debt to equity	—	—	—	0.00×	0.99×	▲ >999%
Interest coverage	1.24×	29.03×	16.23×	6.54×	-18.39×	▼ 381%

ASTL price history

Price history is added with the daily price update and will appear after the next one.

Similar companies

Sector leaderboards

Sylvania Platinum LimitedSLP.L97/ 100

Serabi Gold plcSRB.L95/ 100

Wesdome Gold Mines Ltd.WDO.TO95/ 100

Bringing the fundamentals into focus…

Overall health

Drawback: less profitable than most peersless profitable than peers

Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings

Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 1.64 vs a peer median of 0.69) and more debt relative to equity (0.99× vs a peer median of 0.36×)higher risk: bigger price swings (beta 1.64 vs peers 0.69) and more debt vs equity (0.99× vs peers 0.36×)

Not enough data: growth

Would rank #1,207 of 1,217 fully scored basic materials companies (bottom 1%)

Partial overall score — 3/4 categories available.

See how it ranks against its peers

Worth knowing

Paying shareholders without free cash flow. Paid out CAD 73M over the 3 fiscal years to FY Dec 2025 with -CAD 784M of free cash flow.

Algoma Steel returned CAD 73M in buybacks and dividends over three fiscal years while its free cash flow totalled -CAD 784M. The money came from its cash pile or from borrowing.

Operating margin at a 6-year low. -64% in FY Dec 2025, the weakest of the last 6 years.

Algoma Steel's operating margin fell to -64% in FY Dec 2025, its lowest in the 6 years of filings we have.

Investment surge. Capital spending 16% of revenue, up from 4.4% in FY Mar 2022.

Algoma Steel is spending 16% of revenue on facilities and equipment, up from 4.4% in FY Mar 2022. That weighs on free cash flow today; whether it pays off depends on the returns those investments earn.

Not profitable yet. Reported a loss in the 12 months to December 2025.

Algoma Steel reported a net loss over the last twelve months, so earnings-based measures can't show it as cheap.

Questions investors ask about Algoma Steel

Is Algoma Steel getting weaker?

Its latest SEC filing (Mar 12, 2026) got weaker in some ways: turned to a loss over the last 12 months; operating margin fell 69.6 points to -63.6%. Its overall score is unchanged at 6/100 since Oct 28, 2026.

How is Algoma Steel valued vs its peers?

Priced higher than most peers relative to what it earns. Valuation scores 8/100 against 1,371 basic materials peers. Earnings yield -125.0% vs a peer median of 3.6% (weaker than 100% of peers).Earnings yield -125.0% vs peers 3.6% (weaker than 100% of peers).

Is Algoma Steel growing?

Insufficient data: 0 of 3 inputs reported (at least 2 needed).

How profitable is Algoma Steel?

Less profitable than most of its peers. Profitability scores 0/100 against 1,371 basic materials peers. Operating margin -63.6% vs a peer median of 7.6% (weaker than 100% of peers).Operating margin -63.6% vs peers 7.6% (weaker than 100% of peers).

How risky is Algoma Steel?

Higher risk relative to 1,371 basic materials peers, judged on debt, liquidity and share-price swings. Current ratio 2.18× vs a peer median of 1.76× (stronger than 63% of peers).Current ratio 2.18× vs peers 1.76× (stronger than 63% of peers). Beta 1.64 vs a peer median of 0.69 (weaker than 93% of peers).Beta 1.64 vs peers 0.69 (weaker than 93% of peers). A relative measure, not a bankruptcy probability.

Previous year

Latest year

Change

Revenue (12 months)

2.8B CAD

2.1B CAD

−25.4%

Net income (12 months)

105.2M CAD

−984.9M CAD

turned negative

Operating margin

6.0%

-63.6%

−69.6 pts

Free cash flow (12 months)

−195.2M CAD

−394.6M CAD

+102.2%

Debt

507.8M CAD

483.8M CAD

−4.7%

Cash

266.9M CAD

77.5M CAD

−71.0%

Key ratios

FY Mar 2021

FY Mar 2022

FY Mar 2023

FY Mar 2024

FY 2025

Change

Gross margin

8.8%

39.8%

14.0%

10.1%

-31.9%

▼ 42 pts

Operating margin

4.7%

37.1%

10.5%

6.0%

-63.6%

▼ 70 pts

Net margin

-4.2%

22.5%

10.7%

3.8%

-47.2%

▼ 51 pts

Return on assets (ROA)

-4.9%

31.8%

12.2%

3.9%

-46.5%

▼ 50 pts

Return on equity (ROE)

-43.8%

54.2%

20.4%

7.0%

-200.5%

▼ 208 pts

Free cash flow margin

-3.5%

28.8%

-7.0%

-18.9%

▼ 12 pts

Current ratio

2.42×

3.57×

3.98×

2.95×

2.18×

▼ 26%

Quick ratio

1.23×

2.67×

1.87×

1.06×

1.03×

▼ 2.8%

Debt to equity

—

0.00×

0.99×

▲ >999%

Interest coverage

1.24×

29.03×

16.23×

6.54×

-18.39×

▼ 381%