Algoma Steel Group Inc. (ASTL) Balance Sheet

NASDAQ: ASTLAssets, liabilities, debt and equity over 9 years.

ASTL balance sheet, FY2026

March 31, 2026 · Canadian dollars

C$2.12B assets = C$1.62B liabilities + C$491.1M equity

Both columns are drawn to the same scale: what ASTL owns equals what it owes plus shareholders’ equity. Hover a block for its value.

ASTL financial health

Current ratio2.18

Comfortable · current assets cover current liabilities 2.18×

Debt / equity1.76

High leverage · C$1.76 of debt for each $1 of equity

Equity / assets23.2%

Balanced · of assets funded by shareholders

Cash / debt9.0%

Low cash cover · cash & short-term investments vs total debt

Goodwill & intangibles0.0%

Mostly tangible · of total assets

Descriptive bands, not a rating. Fiscal FY2026.

ASTL balance sheet trends, FY2013–FY2026

Algoma Steel Group Inc. balance sheet trends
Metric	Then	Latest	Change
Total assets	C$1.88BFY2013	C$2.12BFY2026	+1.5%/yr
Total liabilities	C$2.18BFY2013	C$1.62BFY2026	−3.6%/yr
Shareholders’ equity	−C$300.2MFY2013	C$491.1MFY2026	—
Cash & short-term investments	C$32.5MFY2013	C$77.5MFY2026	+11.5%/yr
Total debt	C$1.13BFY2013	C$862.0MFY2026	−3.3%/yr
Net cash (debt)	−C$1.10BFY2013	−C$784.5MFY2026	+C$313.4M
Working capital	C$334.6MFY2013	C$585.0MFY2026	+C$250.4M
Current ratio	2.29FY2013	2.18FY2026	−0.12
Debt / equity	2.67FY2020	1.76FY2026	−0.92
Shares outstanding	500.0MFY2013	108.7MFY2026	−17.4%/yr

Change is the average annual growth (CAGR) or the difference between the first and latest year.

ASTL assets

Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current

ASTL liabilities and equity

Current liabilitiesLong-term debtOther long-term liabilitiesEquity

ASTL debt vs cash

Total debtCash & ST investmentsNet cash (debt)

Debt includes short- and long-term borrowings and, where reported, lease obligations.

ASTL balance sheet in Canadian dollars

Algoma Steel Group Inc. annual balance sheet
	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2014	FY2013
Assets
Cash & short-term investments	C$77.5M	C$266.9M	C$97.9M	C$247.4M	C$915.3M	C$21.2M	C$265.0M	C$3.6M	C$32.5M
Cash & equivalents	C$77.5M	C$266.9M	C$97.9M	C$247.4M	C$915.3M	C$21.2M	C$265.0M	C$3.6M	C$32.5M
Short-term investments	—	—	−C$3.9M	—	—	—	—	—	—
Receivables	C$399.6M	C$213.7M	C$235.4M	C$291.2M	C$402.3M	C$274.6M	C$249.3M	C$136.6M	C$180.9M
Inventory	C$569.3M	C$879.2M	C$807.8M	C$722.7M	C$480.0M	C$415.3M	C$436.9M	C$284.0M	C$346.6M
Other current assets	C$36.0M	C$146.6M	C$121.4M	C$105.0M	C$118.9M	C$131.7M	C$69.0M	C$62.7M	C$33.2M
Total current assets	C$1.08B	C$1.51B	C$1.26B	C$1.37B	C$1.92B	C$842.8M	C$1.02B	C$486.9M	C$593.2M
Property, plant & equipment (net)	C$1.03B	C$1.66B	C$1.41B	C$1.08B	C$773.7M	C$699.9M	C$799.5M	C$1.22B	C$1.19B
Goodwill & intangible assets	C$299,755	C$500,000	C$700,000	C$900,000	C$1.1M	C$1.5M	C$2.8M	C$75.9M	C$79.9M
Long-term investments	C$0	C$0	C$0	C$0	C$0	C$0	C$0	C$0	C$0
Other non-current assets	C$3.3M	C$16.6M	C$7.6M	C$7.1M	C$2.3M	C$9.7M	C$7.2M	C$16.5M	C$13.8M
Total assets	C$2.12B	C$3.19B	C$2.68B	C$2.46B	C$2.69B	C$1.55B	C$1.83B	C$1.80B	C$1.88B
Liabilities
Accounts payable	C$47.7M	C$146.1M	C$142.0M	C$59.8M	C$54.6M	C$43.3M	C$45.3M	C$127.9M	C$151.0M
Short-term debt	C$184.2M	C$26.4M	C$16.5M	C$11.9M	C$10.1M	C$90.1M	C$256.2M	C$872.4M	C$3.6M
Deferred revenue	—	—	C$2.1M	C$52.4M	C$321.5M	C$142.2M	—	—	—
Total current liabilities	C$497.4M	C$490.3M	C$428.5M	C$343.4M	C$537.5M	C$348.6M	C$435.3M	C$1.21B	C$258.6M
Long-term debt	C$676.4M	C$0	C$127.4M	C$110.4M	C$85.2M	C$525.7M	C$545.6M	C$0	C$0
Lease obligations	C$1.4M	—	C$2.2M	C$400,000	C$900,000	C$0	—	—	—
Other long-term liabilities	C$451.0M	C$1.19B	C$617.7M	C$539.6M	C$488.3M	C$505.8M	C$548.9M	C$1.13B	C$1.92B
Total liabilities	C$1.62B	C$1.68B	C$1.17B	C$993.4M	C$1.11B	C$1.38B	C$1.53B	C$2.34B	C$2.18B
Shareholders' equity
Common stock & paid-in capital	C$975.5M	C$974.8M	C$963.9M	C$958.4M	C$1.38B	C$409.5M	C$409.5M	C$490.4M	C$490.4M
Retained earnings (deficit)	−C$897.9M	C$102.0M	C$288.4M	C$211.6M	C$77.8M	−C$249.3M	−C$173.2M	−C$1.07B	−C$760.0M
Accumulated other comprehensive income	C$414.4M	C$431.7M	C$267.1M	C$313.6M	C$152.0M	C$9.5M	C$63.6M	−C$5.7M	−C$88.8M
Total shareholders' equity	C$491.1M	C$1.51B	C$1.50B	C$1.46B	C$1.58B	C$173.8M	C$299.9M	−C$530.9M	−C$300.2M
Key figures
Total debt	C$862.0M	C$673.2M	C$146.1M	C$122.7M	C$96.2M	C$615.8M	C$801.8M	C$1.30B	C$1.13B
Net cash (debt)	−C$784.5M	−C$406.3M	−C$48.2M	C$124.7M	C$819.1M	−C$594.6M	−C$536.8M	−C$1.29B	−C$1.10B
Working capital	C$585.0M	C$1.02B	C$834.0M	C$1.02B	C$1.38B	C$494.2M	C$584.9M	−C$719.9M	C$334.6M
Tangible book value	C$490.8M	C$1.51B	C$1.50B	C$1.46B	C$1.58B	C$172.3M	C$297.1M	−C$606.8M	−C$380.1M
Shares outstanding	108.7M	108.5M	133.0M	147.0M	148.0M	112.1M	148.0M	500.0M	500.0M
Current ratio	2.18	3.07	2.95	3.98	3.57	2.42	2.34	0.40	2.29
Quick ratio	0.96	0.98	0.78	1.57	2.45	0.85	1.18	0.12	0.83
Debt / equity	1.76	0.45	0.10	0.08	0.06	3.54	2.67	—	—
Equity / assets	23.2%	47.3%	56.1%	59.5%	58.8%	11.2%	16.4%	−29.4%	−16.0%

Algoma Steel Group Inc. quarterly balance sheet
	Jun '26	Mar '26	Dec '25	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24	Mar '24	Dec '23	Sep '23
Assets
Cash & short-term investments	C$62.6M	C$65.3M	C$77.5M	C$4.5M	C$82.5M	C$226.5M	C$266.9M	C$452.0M	C$493.4M	C$97.9M	C$94.7M	C$213.6M
Cash & equivalents	C$62.6M	C$65.3M	C$77.5M	C$4.5M	C$82.5M	C$226.5M	C$266.9M	C$452.0M	C$497.3M	C$97.9M	C$94.7M	C$213.6M
Short-term investments	—	—	—	—	—	—	—	—	−C$3.9M	—	—	—
Receivables	C$431.3M	C$131.5M	C$399.3M	C$357.1M	C$369.6M	C$266.1M	C$227.6M	C$289.8M	C$249.1M	C$266.7M	C$302.0M	C$291.3M
Inventory	C$449.2M	C$475.6M	C$568.8M	C$790.0M	C$736.3M	C$693.9M	C$879.2M	C$792.6M	C$799.6M	C$807.8M	C$886.6M	C$822.7M
Other current assets	C$36.5M	C$276.2M	C$35.9M	C$29.3M	C$35.4M	C$134.7M	C$132.7M	C$57.5M	C$101.3M	C$90.1M	C$60.1M	C$100.0M
Total current assets	C$979.6M	C$948.6M	C$1.08B	C$1.18B	C$1.22B	C$1.32B	C$1.51B	C$1.59B	C$1.64B	C$1.26B	C$1.34B	C$1.43B
Property, plant & equipment (net)	C$1.08B	C$1.05B	C$1.03B	C$1.24B	C$1.71B	C$1.75B	C$1.66B	C$1.50B	C$1.47B	C$1.41B	C$1.30B	C$1.28B
Goodwill & intangible assets	C$200,086	C$0	C$599,754	C$300,000	C$400,000	C$500,000	C$500,000	C$600,000	C$600,000	C$700,000	C$800,000	C$900,000
Long-term investments	C$0	C$0	C$0	C$0	C$0	C$0	C$0	C$0	C$0	C$0	C$0	C$0
Other non-current assets	C$1.8M	C$2.9M	C$3.0M	C$15.8M	C$15.6M	C$16.5M	C$16.6M	C$7.4M	C$7.6M	C$7.6M	C$7.4M	C$7.9M
Total assets	C$2.06B	C$2.00B	C$2.11B	C$2.44B	C$2.95B	C$3.09B	C$3.19B	C$3.10B	C$3.12B	C$2.68B	C$2.65B	C$2.71B
Liabilities
Accounts payable	C$82.6M	C$63.0M	C$47.7M	C$313.0M	C$160.2M	C$313.4M	C$319.1M	C$144.5M	C$108.1M	C$142.0M	C$56.0M	C$103.1M
Short-term debt	C$73.7M	—	C$186.2M	C$101.0M	C$41.4M	C$27.6M	C$25.4M	C$24.1M	C$22.5M	C$16.5M	C$19.8M	C$12.3M
Deferred revenue	—	—	—	—	—	—	—	—	—	C$2.1M	C$228.0M	C$271.2M
Total current liabilities	C$393.4M	C$387.7M	C$497.0M	C$515.6M	C$497.9M	C$425.9M	C$490.3M	C$480.8M	C$392.6M	C$428.5M	C$466.6M	C$441.3M
Long-term debt	C$860.8M	C$768.9M	C$676.4M	C$632.8M	C$606.6M	C$629.1M	C$0	C$593.7M	C$598.5M	C$127.4M	C$125.8M	C$122.8M
Lease obligations	C$800,000	C$1.1M	C$1.4M	—	—	—	—	—	—	C$2.2M	—	—
Other long-term liabilities	C$514.7M	C$499.7M	C$450.1M	C$412.8M	C$548.0M	C$552.0M	C$1.19B	C$607.6M	C$588.7M	C$617.7M	C$618.5M	C$537.3M
Total liabilities	C$1.77B	C$1.66B	C$1.62B	C$1.56B	C$1.65B	C$1.61B	C$1.68B	C$1.68B	C$1.58B	C$1.17B	C$1.21B	C$1.10B
Shareholders' equity
Common stock & paid-in capital	C$982.7M	—	C$974.7M	C$975.5M	C$975.5M	C$975.5M	C$974.8M	C$968.5M	C$964.1M	C$963.9M	C$963.2M	C$958.8M
Retained earnings (deficit)	−C$1.15B	−C$1.06B	−C$897.2M	−C$533.2M	−C$48.1M	C$69.9M	C$102.0M	C$173.6M	C$287.4M	C$288.4M	C$267.7M	C$359.4M
Accumulated other comprehensive income	C$465.9M	—	C$414.1M	C$427.7M	C$366.5M	C$442.0M	C$431.7M	C$279.7M	C$307.7M	C$267.1M	C$227.2M	C$293.5M
Total shareholders' equity	C$295.7M	C$345.9M	C$490.7M	C$874.4M	C$1.29B	C$1.48B	C$1.51B	C$1.41B	C$1.54B	C$1.50B	C$1.44B	C$1.61B
Key figures
Total debt	C$1.09B	C$768.9M	C$916.2M	C$733.8M	C$648.0M	C$663.9M	C$659.6M	C$617.8M	C$628.2M	C$146.1M	C$145.6M	C$135.1M
Net cash (debt)	−C$1.03B	−C$703.6M	−C$838.6M	−C$729.3M	−C$565.5M	−C$437.4M	−C$392.7M	−C$165.8M	−C$134.8M	−C$48.2M	−C$50.9M	C$78.5M
Working capital	C$586.3M	C$560.9M	C$584.5M	C$665.3M	C$725.9M	C$895.3M	C$1.02B	C$1.11B	C$1.25B	C$834.0M	C$876.8M	C$986.3M
Tangible book value	C$295.5M	C$345.9M	C$490.1M	C$874.1M	C$1.29B	C$1.48B	C$1.51B	C$1.41B	C$1.54B	C$1.50B	C$1.44B	C$1.61B
Shares outstanding	109.3M	108.7M	104.9M	108.7M	108.5M	106.5M	109.0M	133.1M	133.1M	107.7M	108.3M	132.9M
Current ratio	2.49	2.45	2.18	2.29	2.46	3.10	3.07	3.31	4.19	2.95	2.88	3.23
Quick ratio	1.26	0.51	0.96	0.70	0.91	1.16	1.01	1.54	1.89	0.85	0.85	1.14
Debt / equity	3.68	2.22	1.87	0.84	0.50	0.45	0.44	0.44	0.41	0.10	0.10	0.08
Equity / assets	14.3%	17.3%	23.2%	35.9%	43.9%	48.0%	47.3%	45.7%	49.4%	56.1%	54.3%	59.4%

Quarterly columns are labeled by the month the quarter ended. Figures in Canadian dollars as reported (latest annual report filed March 12, 2026); data from EODHD.

ASTL financial position

At the end of fiscal 2026 (March 31, 2026), Algoma Steel had total assets of C$2.1 billion (down 33.6% from a year earlier), total liabilities of C$1.6 billion and shareholders' equity of C$491.1 million. It held C$77.5 million in cash and short-term investments against C$862.0 million of debt, net debt of C$784.5 million. Its current ratio was 2.18. In the latest quarter (ended June 30, 2026) total assets were C$2.1 billion and equity C$295.7 million.

Related: ASTL income statement, ASTL cash flow statement, ASTL key metrics. See the ASTL stock overview for the latest quote and news.

ASTL balance sheet FAQ

What are Algoma Steel's total assets?

Algoma Steel reported total assets of C$2.1 billion at the end of fiscal 2026 (March 31, 2026), compared with C$3.2 billion a year earlier.

How much debt does Algoma Steel have?

Algoma Steel had C$862.0 million of total debt at the end of fiscal 2026, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 1.76.

How much cash does Algoma Steel have?

Algoma Steel held C$77.5 million in cash and short-term investments at the end of fiscal 2026; with C$862.0 million of debt that is net debt of C$784.5 million.

What is Algoma Steel's book value?

Algoma Steel's shareholders' equity (book value) was C$491.1 million at the end of fiscal 2026.

What is Algoma Steel's current ratio?

Algoma Steel had current assets of C$1.1 billion and current liabilities of C$497.4 million, a current ratio of 2.18 (it can cover its short-term obligations).

How much goodwill does Algoma Steel have?

Algoma Steel carried C$0.3 million of goodwill and intangible assets, 0.0% of total assets, at the end of fiscal 2026.