Algoma Steel (ASTL) financial statements
Algoma Steel reported revenue of 2.1B CAD in fiscal 2025, up 1.3% a year over 5 years.
Net income was -985M CAD and the operating margin -63.6%, against -7.0% in 2020.
Free cash flow was -395M CAD, and the company returned 15M CAD in dividends.
The diluted share count rose 51% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions (CAD).
Income statement
Fiscal years, in CAD, from Algoma Steel's 10-K filings with the SEC.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Revenue | 2.0B CAD | 1.8B CAD | 3.8B CAD | 2.8B CAD | 2.8B CAD | 2.1B CAD |
| Cost of revenue | 2.0B CAD | 1.6B CAD | 2.3B CAD | 2.4B CAD | 2.5B CAD | 2.8B CAD |
| Gross profit | -80M CAD | 157M CAD | 1.5B CAD | 390M CAD | 282M CAD | -665M CAD |
| Selling, general and admin | 57M CAD | 72M CAD | 103M CAD | 99M CAD | 115M CAD | 112M CAD |
| Operating income | -137M CAD | 85M CAD | 1.4B CAD | 290M CAD | 167M CAD | -1.3B CAD |
| Interest expense | 64M CAD | 68M CAD | 49M CAD | 18M CAD | 26M CAD | 72M CAD |
| Pre-tax income | -180M CAD | -76M CAD | 1.2B CAD | 376M CAD | 145M CAD | -1.3B CAD |
| Income tax | -4M CAD | 0 CAD | 299M CAD | 78M CAD | 40M CAD | -316M CAD |
| Net income | -176M CAD | -76M CAD | 858M CAD | 298M CAD | 105M CAD | -985M CAD |
| EPS (diluted) | -2.46 CAD | -1.06 CAD | 7.75 CAD | 1.71 CAD | 0.70 CAD | -9.06 CAD |
| Diluted shares | 72M | 72M | 112M | 147M | 133M | 109M |
| 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% |
Balance sheet
Fiscal years, in CAD, from Algoma Steel's 10-K filings with the SEC.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Cash and short-term investments | 265M CAD | 21M CAD | 915M CAD | 247M CAD | 98M CAD | 78M CAD |
| Receivables | — | 275M CAD | 402M CAD | 291M CAD | 247M CAD | 193M CAD |
| Inventory | — | 415M CAD | 480M CAD | 723M CAD | 808M CAD | 569M CAD |
| Total current assets | — | 843M CAD | 1.9B CAD | 1.4B CAD | 1.3B CAD | 1.1B CAD |
| Property, plant and equipment | — | 700M CAD | 774M CAD | 1.1B CAD | 1.4B CAD | 1.0B CAD |
| Total assets | — | 1.6B CAD | 2.7B CAD | 2.5B CAD | 2.7B CAD | 2.1B CAD |
| Total current liabilities | — | 349M CAD | 538M CAD | 343M CAD | 428M CAD | 497M CAD |
| Total liabilities | — | 1.4B CAD | 1.1B CAD | 993M CAD | 1.2B CAD | 1.6B CAD |
| Shareholders' equity | 300M CAD | 174M CAD | 1.6B CAD | 1.5B CAD | 1.5B CAD | 491M CAD |
| Net debt | -265M CAD | -21M CAD | -915M CAD | -247M CAD | -97M CAD | -76M CAD |
Cash flow
Fiscal years, in CAD, from Algoma Steel's 10-K filings with the SEC.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Operating cash flow | -5M CAD | 8M CAD | 1.3B CAD | 177M CAD | 295M CAD | -66M CAD |
| Capital spending | 114M CAD | 72M CAD | 166M CAD | 371M CAD | 490M CAD | 328M CAD |
| Free cash flow | -119M CAD | -64M CAD | 1.1B CAD | -194M CAD | -195M CAD | -395M CAD |
| Dividends paid | — | — | 9M CAD | 31M CAD | 28M CAD | 15M CAD |
| Net borrowing | — | — | — | — | — | -500,000 CAD |
| Free cash flow margin | -6.1% | -3.5% | 28.8% | -7.0% | -7.0% | -18.9% |
| Dividends per share | — | — | 0.08 CAD | 0.21 CAD | 0.21 CAD | 0.14 CAD |
Questions
What was Algoma Steel's revenue in 2025?
2.1B CAD in fiscal 2025, from its 10-K filing.
How much free cash flow does Algoma Steel generate?
-395M CAD in fiscal 2025 (operating cash flow minus capital spending).
From Algoma Steel's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.