ASTL

MKT CAP:$476M

Algoma Steel Group Inc.

Market Cap

$476M

Basic Materials·Steel·🇨🇦 Canada·NASDAQ

Materials·Steel·🇨🇦·NASDAQ

Stock Price

$4.44+$0.52 (+13.27%)

Apr 23, 2026

Company Details

Algoma Steel Group Inc. produces and sells steel products primarily in North America. It provides flat/sheet steel products, including temper rolling, cold rolled, hot-rolled pickled and oiled products, floor plate, and cut-to-length produc...

CEO

Rajat Marwah

IPO Date

Mar 4, 2021

Website

algoma.com

Key Metrics TTM

Revenue

$1.5B

-6.3% YoY

Net Income

-$720M

EPS (Diluted)

-$6.62

Free Cash Flow

-$288M

Revenue / Share

$14.02

Gross Margin

-31.9%

Operating Margin

-37.3%

Net Margin

-47.2%

FCF Margin

-18.9%

P/S

0.3x

P/E

—

Earnings Reports

Q1 2027

May 5, 2026

PENDING

FY 2026

Mar 11, 2026

$1.5B-15.0%EPS -$6.62

Q4 2026

Mar 11, 2026

$378M+0.1%EPS -$0.08

Q3 2026

Mar 11, 2026

$332M-23.0%EPS -$2.54

Q2 2026

Oct 29, 2025

$383M-12.7%EPS -$3.26

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 23	$438M	$22M	$14M
Q3 23	$415M	-$32M	-$48M
Q4 23	$495M	$34M	$9M
Q1 24	$605M	$137M	$120M
Q2 24	$535M	$50M	$27M
Q3 24	$450M	-$6M	-$27M
Q4 24	$454M	$23M	-$146.2K
Q1 25	$475M	$19M	-$9M
Q2 25	$439M	-$34M	-$61M
Q3 25	$431M	-$64M	-$91M
Q4 25	$378M	-$80M	-$102M
Q4 25	$378M	-$80M	-$102M
Q1 26	$431M	-$40M	-$62M
Q2 26	$383M	-$78M	-$476M
Q3 26	$332M	-$281M	-$295M
Q4 26	$378M	-$87M	$265M

Valuation

Quarter	P/S	P/E
Q2 23	0.3x	1.3x
Q3 23	0.3x	1.6x
Q4 23	0.4x	4.0x
Q1 24	0.4x	8.4x
Q2 24	0.4x	13.7x
Q3 24	0.5x	25.0x
Q4 24	0.5x	12.2x
Q1 25	0.4x	—
Q2 25	0.6x	—
Q3 25	0.5x	—
Q4 25	0.3x	—
Q4 25	0.4x	—
Q1 26	0.5x	—
Q2 26	0.3x	—
Q3 26	0.3x	—
Q4 26	0.2x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	$202M	$144M
Q2 23	-$48M	-$111M
Q3 23	-$94M	-$157M
Q4 23	$70M	$9M
Q1 24	$120M	$42M
Q2 24	$42M	-$71M
Q3 24	-$35M	-$105M
Q4 24	$87M	$2M
Q1 25	$9M	-$63M
Q2 25	$19M	-$47M
Q3 25	-$56M	-$138M
Q4 25	$67M	-$26M
Q1 26	-$28M	-$99M
Q2 26	-$86M	-$140M
Q4 26	$85M	-$5M
Q3 26	-$20M	-$45M

Capital Expenditures

Quarter	CapEx
Q1 23	$59M
Q2 23	$62M
Q3 23	$63M
Q4 23	$60M
Q1 24	$78M
Q2 24	$113M
Q3 24	$71M
Q4 24	$86M
Q1 25	$72M
Q2 25	$65M
Q3 25	$82M
Q4 25	$93M
Q1 26	$71M
Q2 26	$54M
Q4 26	$90M
Q3 26	$25M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 23	-40.7%	-4.7%
Q3 23	-46.7%	+2.4%
Q4 23	-28.1%	+5.3%
Q1 24	-11.4%	+9.5%
Q2 24	+22.3%	+20.1%
Q3 24	+8.4%	+3.0%
Q4 24	-8.4%	-6.6%
Q1 25	-21.4%	+0.0%
Q2 25	-18.1%	-1.7%
Q3 25	-4.1%	+9.6%
Q4 25	-16.7%	+5.8%
Q4 25	-20.5%	-0.9%
Q1 26	-1.8%	-1.3%
Q2 26	-11.2%	+64.4%
Q3 26	-12.1%	+30.6%
Q4 26	+0.1%	-76.5%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	-$7M	-1.0%
Q2 23	-$11M	-2.4%
Q3 23	-$146.2K	-0.0%
Q4 23	$5M	1.0%
Q1 24	-$3M	-0.5%
Q2 24	-$950.0K	-0.2%
Q3 24	$8M	1.8%
Q4 24	-$4M	-0.8%
Q1 25	-$4M	-0.9%
Q2 25	$9M	2.1%
Q3 25	$2M	0.4%
Q4 25	-$11M	-3.0%
Q1 26	$4M	0.9%
Q2 26	-$8M	-2.2%
Q4 26	-$10M	-3.0%
Q3 26	$0	0.0%

OpEx Breakdown

Quarter	G&A	SG&A
Q2 23	$18M	—
Q3 23	$16M	—
Q4 23	$18M	—
Q1 24	$17M	—
Q2 24	$23M	—
Q3 24	$21M	—
Q4 24	$23M	—
Q1 25	$21M	—
Q2 25	$27M	—
Q3 25	—	$30M
Q4 25	—	$14M
Q4 25	—	$14M
Q1 26	$23M	—
Q2 26	$23M	—
Q3 26	—	$14M
Q4 26	$36M	—

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$831M	$0	$831M
Q2 23	$340M	$0	$340M
Q3 23	$179M	$0	$179M
Q4 23	$181M	$0	$181M
Q1 24	$220M	$0	$220M
Q2 24	$156M	$0	$156M
Q3 24	$69M	$0	$69M
Q4 24	$74M	$0	$74M
Q1 25	$363M	$0	$363M
Q2 25	$330M	$0	$330M
Q3 25	$195M	$0	$195M
Q4 25	$166M	$0	$166M
Q1 26	$60M	$0	$60M
Q2 26	$3M	$0	$3M
Q4 26	$57M	$0	$57M
Q3 26	$57M	$0	$57M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 23	146M	-17.4%	+30.1%
Q3 23	108M	-25.7%	-14.1%
Q4 23	104M	-4.5%	-38.2%
Q1 24	133M	+28.1%	-24.9%
Q2 24	133M	+0.2%	-8.8%
Q3 24	108M	-18.5%	-0.1%
Q4 24	104M	-3.9%	+0.5%
Q1 25	133M	+27.9%	+0.3%
Q2 25	133M	0.0%	+0.2%
Q3 25	109M	-18.1%	+0.7%
Q4 25	107M	0.0%	-20.0%
Q4 25	107M	0.0%	-20.0%
Q1 26	109M	+1.9%	-18.5%
Q2 26	109M	+0.2%	-0.3%
Q3 26	105M	-3.5%	-1.5%
Q4 26	109M	+3.6%	+2.1%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 23	$160.2K	3K
Q3 23	$151.8K	3K
Q4 23	$181.1K	3K
Q1 24	$221.1K	3K
Q2 24	$195.8K	3K
Q3 24	$164.5K	3K
Q4 24	$165.9K	3K
Q1 25	$173.9K	3K
Q2 25	$160.5K	3K
Q3 25	$157.8K	3K
Q4 25	$138.2K	3K
Q4 25	$138.2K	3K
Q1 26	$157.6K	3K
Q2 26	$140.0K	3K
Q3 26	$121.5K	3K
Q4 26	$138.3K	3K

Revenue / Employee