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Algoma Steel Group Inc. (ASTL) stock

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NASDAQ: ASTL Nasdaq Steel

D Fundamentals grade

Algoma Steel Group Inc. is a US-listed company in the steel industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$7.0

Price-to-sales vs peers

Base case. Range ~$5.9–$21. Sales per share times peers' typical price-to-sales; used only when earnings are negative.

Price vs value

No Buy/Hold/Sell rating is issued: only 1 valuation models apply; a rating needs 3.

Algoma Steel Group Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Funds42 adding, 51 cuttingOf 25 active managers that changed their stake, 13 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Algoma Steel Group files

Where Algoma Steel stands after its latest Filing

Revenue for the twelve months was $1.49bn, down 1.4% on a year earlier, a smaller fall than the 30.8% decline a quarter earlier. Free-cash-flow margin fell to -18.9% from -3.5% a year earlier. Operating margin narrowed to -63.6% from 4.7%. The diluted share count is down 9.5% on a year earlier, which lifts each remaining share. Against its peers on growth, profitability, cash generation and balance sheet, it grades D. It passes 1 of our 2 financial-health checks. Our price-to-sales vs peers value is $6.92 a share, against a share price of $4.77.

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Algoma Steel Group Inc.'s trailing-twelve-month revenue fell 1.4% year on year, with a free-cash-flow margin of -18.9%. Where it stands out: change in share count of -9.5% ranks 1 of 15 steel companies we cover. Where it lags: gross margin of -31.9% ranks 13 of 13 steel companies we cover.

Current signal Results well ahead of expectations: Reported earnings per share beat the analysts' consensus estimate by 41% in the quarter to 2026-09-30, the 2nd beat in the last four quarters.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Shrinking share count. Diluted shares fell 9.5% in a year, so each share owns more of the business.

Things to watch

  • Revenue shrinking. Revenue fell 1.4% over the last 12 months.
  • Loss-making. Operating margin is -63.6%: costs exceed revenue.
  • Margins narrowing. Operating margin is down 4.5 points on a year ago.
  • Burning cash. Free cash flow was -18.9% of revenue over the last 12 months.
  • Gross margin slipping. Gross margin is down 3.9 points on a year ago.
  • Missing expectations. Earnings per share fell short of the consensus estimate in 2 of the last four quarters.

Latest results

Earnings per share
-$0.43 against an average estimate of -$0.73: beat by 41.4%
Next report
October 28, 2026

Algoma Steel Group's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+3.6%
  • 1 week+1.6%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$1.5B
Operating margin
-63.6%
Net margin
-47.2%
EPS (TTM, diluted)
$-6.49

Growth

Revenue growth
−1.4%
Change in growth rate
+29.4 pts
Share count change
−9.5%

Cash

Free cash flow (TTM)
-$283M
FCF margin
-18.9%

News & updates

Updated November 2, 2026

Company announcements, filed results and changes that matter to shareholders.

No recent updates are available for ASTL from the sources we follow. See filings →

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Algoma Steel Group Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: only 1 valuation models apply; a rating needs 3.

Valuation models

We value Algoma Steel Group Inc. as an operating company, with every model that fits that kind of business. Cost of equity 9.6%: the 10-year Treasury yield (4.9%) plus a beta of 1.03 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. — Does not apply: no positive earnings in the latest twelve months
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: the model gives no positive value
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. — Does not apply: revenue and margins don't support a positive value
Price-to-sales vs peers Sales per share times peers' typical price-to-sales; used only when earnings are negative. ~$7.0 ~$5.9–$21 Included, half weight
Combined value Weighted average of the models that apply: the primary model (price-to-earnings vs peers) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$7.0 ~$5.9–$21 1 model

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Algoma Steel Group Inc. with Steel in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Low.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

No analyst estimates are published for Algoma Steel Group Inc.: too few analysts cover it.

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 −$0.73 −$0.43 +41.4%
Jun 2026 −$0.80 −$0.36 +55.0%
Mar 2026 −$1.15 −$1.50 −30.5%
Dec 2025 −$1.08 −$2.54 −133.8%

Adjusted EPS as companies report it, against the average analyst estimate.

Analyst recommendations

4 analysts, Nov 2026
Buy125%
Hold375%
Sell00%

Monthly trend

  1. Nov 2026134
  2. Oct 2026134
  3. Sep 2026134

Counts of recommendations published by analysts covering Algoma Steel Group Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
5.7%
of tradable shares
Days to cover
6.39
at average volume
Short interest, 1 month
+9%
to October 15, 2026
Held by institutions
72%
of shares
Held by insiders
5.0%
of shares
Employees
2,400
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

Price behaviour

52-week range
Not enough history
From 52-week high
—
vs 50-day average
—
vs 200-day average
—
Volatility (1 year)
—
Beta vs S&P 500
—

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Algoma Steel Group Inc. in five measures

Fundamentals grade D
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Algoma Steel Group Inc.
$1B $1.5B $2B $2.5B $3B $3.5B FY20 Q1 FY21 Q1 FY22 Q1 FY23 Q1 FY24 Q1 FY25 Q4 Revenue (TTM), FY20 Q1: $1.5B Revenue (TTM), FY21 Q1: $1.4B Revenue (TTM), FY22 Q1: $3B Revenue (TTM), FY23 Q1: $2.1B Revenue (TTM), FY24 Q1: $2.1B Revenue (TTM), FY25 Q4: $1.5B $1.5B

Source: SEC EDGAR filings. Retrieved November 2, 2026.

View chart data
Period Revenue (TTM)
FY20 Q1 $1.5B
FY21 Q1 $1.4B
FY22 Q1 $3B
FY23 Q1 $2.1B
FY24 Q1 $2.1B
FY25 Q4 $1.5B
Revenue growth, TTM YoY Algoma Steel Group Inc.
-50% 0% 50% 100% 150% FY21 Q1 FY22 Q1 FY23 Q1 FY24 Q1 Revenue growth, TTM YoY, FY21 Q1: -7.6% Revenue growth, TTM YoY, FY22 Q1: 123.5% Revenue growth, TTM YoY, FY23 Q1: -30.8% Revenue growth, TTM YoY, FY24 Q1: -1.4% -1.4%

Source: SEC EDGAR filings. Retrieved November 2, 2026.

View chart data
Period Revenue growth, TTM YoY
FY21 Q1 -7.6%
FY22 Q1 123.5%
FY23 Q1 -30.8%
FY24 Q1 -1.4%
Operating margin (TTM) Algoma Steel Group Inc.
-100% -50% 0% 50% FY20 Q1 FY21 Q1 FY22 Q1 FY23 Q1 FY24 Q1 FY25 Q4 Operating margin (TTM), FY20 Q1: -7.0% Operating margin (TTM), FY21 Q1: 4.7% Operating margin (TTM), FY22 Q1: 37.1% Operating margin (TTM), FY23 Q1: 10.5% Operating margin (TTM), FY24 Q1: 6.0% Operating margin (TTM), FY25 Q4: -63.6% -63.6%

Source: SEC EDGAR filings. Retrieved November 2, 2026.

View chart data
Period Operating margin (TTM)
FY20 Q1 -7.0%
FY21 Q1 4.7%
FY22 Q1 37.1%
FY23 Q1 10.5%
FY24 Q1 6.0%
FY25 Q4 -63.6%
FCF margin (TTM) Algoma Steel Group Inc.
-20% 0% 20% 40% FY20 Q1 FY21 Q1 FY22 Q1 FY23 Q1 FY24 Q1 FY25 Q4 FCF margin (TTM), FY20 Q1: -6.0% FCF margin (TTM), FY21 Q1: -3.5% FCF margin (TTM), FY22 Q1: 28.8% FCF margin (TTM), FY23 Q1: -7.0% FCF margin (TTM), FY24 Q1: -7.0% FCF margin (TTM), FY25 Q4: -18.9% -18.9%

Source: SEC EDGAR filings. Retrieved November 2, 2026.

View chart data
Period FCF margin (TTM)
FY20 Q1 -6.0%
FY21 Q1 -3.5%
FY22 Q1 28.8%
FY23 Q1 -7.0%
FY24 Q1 -7.0%
FY25 Q4 -18.9%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 20-F, 40-F. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2020 Mar 2020 2021 Mar 2021 2022 Mar 2022 2023 Mar 2023 2024 Mar 2024 2025 Dec 2025
Income
Revenue 1,471 1,359 3,037 2,102 2,074 1,493
Gross profit −60 119 1,208 295 209 −476
Operating income −103 64 1,126 220 124 −949
Net income −132 −58 684 226 78 −705
Diluted EPS −$1.85 −$0.80 $6.18 $1.29 $0.52 −$6.49
Growth (year on year)
Revenue — −7.6% +123.5% −30.8% −1.4% −28.0%
Operating income — — +>999% −80.5% −43.5% −865.1%
Net income — — — −67.0% −65.4% <−999%
Diluted EPS — — — −79.1% −59.9% <−999%
Margins
Gross margin −4.1% 8.8% 39.8% 14.0% 10.1% −31.9%
Operating margin −7.0% 4.7% 37.1% 10.5% 6.0% −63.6%
Net margin −9.0% −4.2% 22.5% 10.7% 3.8% −47.2%
Free-cash-flow margin −6.0% −3.5% 28.8% −7.0% −7.0% −18.9%
Cash flow
Cash from operations −4 6 1,008 134 219 −47
Capital spending 85 54 133 281 364 235
Free cash flow −89 −48 875 −147 −145 −283
Balance sheet
Cash — — — — — 57
Total debt 0 0 0 0 0 353
Net debt (negative = net cash) — — — — — 296
Diluted shares — — 112m 147m 133m 109m
Returned to shareholders
Dividends — — 7 23 21 11
Total returned — — 7 23 21 11

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

1 of 2 checks passed · December 31, 2025
What it owns · $1.5bn
Short-term assets $789mLonger-term assets $754m
What it owes, and who funded it · $1.5bn
Short-term liabilities $363mLonger-term liabilities $822mShareholders' equity $358m
  • Short-term assets cover short-term liabilities $789m of assets due within a year against $363m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $789m short-term assets against $822m of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Algoma Steel Group Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Dividends (TTM)
$10.6M
Returned to shareholders
-4%
of free cash flow
Diluted share count
−9.5%
year over year

Competitors: side by side with peers

Closest by revenue in steel
Last 12 months unless stated ASTL MTUS SXC IIIN CRS WS Median
Revenue, last 12 months $1.5bn $1.2bn $1.9bn $740m $3.2bn $5.3bn $5.3bn
Revenue growth, last 12 months −1.4% 16.1% 2.9% 14.2% 10.2% 69.1% 14.2%
Revenue growth, 3-year average — −0.5% −2.7% 4.4% −5.3% 15.5% 2.2%
Revenue growth, latest quarter — 12.0% −0.2% 17.9% 8.8% 212.4% 23.0%
Gross margin −31.9% 8.2% 11.2% 10.2% 31.2% 10.4% 11.2%
Operating margin −63.6% 0.9% −1.3% — 23.4% 0.1% 0.5%
Operating margin, 3-year average — −2.0% 3.6% — 18.6% 3.3% 3.6%
Net margin −47.2% 0.7% −2.9% 4.0% 17.9% −0.7% 1.7%
Cash from operations / revenue −3.2% 0.5% 10.4% 5.0% 19.4% 3.8% 4.6%
Free-cash-flow margin −18.9% −8.0% 6.3% 3.4% 10.7% 0.9% 2.8%
Free-cash-flow margin, 3-year average — −3.3% 4.5% 4.6% 9.1% 2.3% 4.4%
Stock pay / revenue — 1.2% 0.2% 0.5% 0.9% 0.2% 0.4%
Change in share count −9.5% −1.5% 0.1% −0.2% −0.8% 0.2% −0.8%

Median of all 15 companies we cover in steel. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

15 steel companies
Measure Company Peer median Rank
Revenue growth Growth -1.4% 14.2% 12 of 15
Change in growth rate Growth +29.4pp +4.9pp 2 of 15
Gross margin Profitability -31.9% 10.8% 13 of 13
Operating margin Profitability -63.6% 0.1% 11 of 11
Net margin Profitability -47.2% 1.7% 15 of 15
Free-cash-flow margin Cash generation -18.9% 2.8% 15 of 15
Change in share count Balance sheet -9.5% -0.8% 1 of 15

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Who owns it

Funds buying and selling
Reported value
$292M
Institutions reporting
95
Shares held vs prior quarter
▲ 0.2%
Positions opened / closed
12 / 15

Top buyers and sellers, Q2 2026: 42 institutions bought and 51 sold ; the biggest buyer was Brightline Capital Management, LLC (+1.7M shares) and the biggest seller Littlejohn & Co LLC (−1.9M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Maple Rock Capital Partners Inc. $68.3M 16.9M 23.4% ▲ 5.8%
Mmcap International Inc. Spc $44.4M 11.0M 15.2% ▼ 14.7%
Donald Smith & Co., Inc. $21.4M 5.3M 7.3% ▼ 12.5%
Blackrock, Inc. $16.8M 4.1M 5.8% ▲ 0.7%
Scheer, Rowlett & Associates Investment Management Ltd. $15.7M 3.8M 5.4% ▲ 19.9%
Morgan Stanley $12M 3.0M 4.1% ▲ 99.4%
Aegis Financial Corp $7.2M 1.8M 2.5% 0.0%
Cdc Financial, Inc. $7.1M 1.7M 2.4% ▲ 8.2%
Brightline Capital Management, LLC $6.7M 1.7M 2.3% New
Littlejohn & Co LLC $6.2M 1.5M 2.1% ▼ 55.9%
Connor, Clark & Lunn Investment Management Ltd. $5.6M 1.4M 1.9% ▼ 19.6%
Sourcerock Group LLC $5.1M 1.2M 1.7% ▼ 4.5%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Algoma Steel Group Inc.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $0 net buying

No open-market insider trades reported in the last 12 months.

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Recent SEC filings

Data status

When each part of this page on Algoma Steel Group Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Algoma Steel Group Inc. in brief

What does Algoma Steel Group Inc. do?
Algoma Steel Group Inc. is a US-listed company in the steel industry. Its financial year ends in December.
What is Algoma Steel Group Inc.'s stock ticker?
Algoma Steel Group Inc. trades under the ticker ASTL on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Algoma Steel Group Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Algoma Steel Group Inc. reported revenue of $1.5B, 1.4% lower than a year earlier, according to its SEC filings.
What is Algoma Steel Group Inc.'s free cash flow?
Algoma Steel Group Inc.'s free-cash-flow margin is -18.9% of revenue over the trailing twelve months, ranking 15 of the 15 steel companies we cover.
Who are Algoma Steel Group Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Maple Rock Capital Partners Inc., Mmcap International Inc. Spc and Donald Smith & Co., Inc. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Does Algoma Steel Group Inc. pay a dividend?
Yes: Algoma Steel Group Inc. paid $10.6M in dividends over the trailing twelve months.
Who are Algoma Steel Group Inc.'s competitors?
In our Steel peer group, the companies closest to Algoma Steel Group Inc. are Metallus Inc., Suncoke Energy, Inc., Insteel Industries Inc, Carpenter Technology Corp and Worthington Steel, Inc. The side-by-side comparison below sets their revenue, margins and growth against Algoma Steel Group Inc.'s.