Algoma Steel Group

ASTLW

Steel · Basic Materials

Price

$0.01

+0.01 (+106.25%)

Market Cap

$401.7M

Exchange

NASDAQ

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Data as of Aug 26, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Weak

Growth

Weak

Cash Flow

Weak

Stability

Weak

Valuation

Data not available

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Share count falling — buybacks

−26.5% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 148.0M (2022) → 108.7M (2026)

Winston Score History

The full picture

Algoma Steel is a Canadian steelmaker based in Sault Ste. Marie, Ontario. It produces flat-rolled steel products like sheet and plate steel used by customers in construction, automotive, energy, and manufacturing. It is one of Canada's largest steel producers, with a history stretching back over a century.

The company earns revenue by selling steel products, with pricing tied to volatile commodity markets. Algoma primarily serves customers across Canada and the United States. The company is currently investing in a transition from its older blast furnace operations to electric arc furnace (EAF) steelmaking, which would lower costs and carbon emissions. However, recent financial results show deeply negative margins, reflecting challenging steel market conditions and transition-related costs. The success of the EAF conversion and a recovery in steel prices are critical factors for the company's financial outlook going forward.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-42.6% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-534.8% YoY

YoY Growth Rate

Earnings declining

R&D Spend

C$0/ year

0.0% of revenue

Below sector average (3%)

Research and development spending

Insider Activity

7.1%ownership

Insiders own a meaningful stake in the company

Cash Runway

~6 months

C$65M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Short runway — potential dilution ahead through share issuance

Cash watch

Algoma Steel Group has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

-39.4%

Thin — -39.4% gross margin

Profit after running costs

Operating Margin

-50.2%

Losing money on operations — -50.2%

Return on the money invested

ROCE

-97.1%

Weak — -97.1% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth

Sales YoY

-32.8%

Shrinking sales (-32.8% YoY)

Profit growth

EPS YoY

N/A

Data not available

How steady the profit is

EPS Consistency

2/8 quarters

Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

—

Data not available

Spare cash per sale

FCF Margin

-23.7%

Burning cash (-23.7%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns

Debt / Equity

3.68

Heavy debt load (3.68)

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

—

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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