ASTL vs. ASTLW

Last updated Apr 1, 2026

Compare and contrast key facts about Algoma Steel Group Inc. (ASTL) and Algoma Steel Group Inc. Warrant (ASTLW).

Performance

ASTL vs. ASTLW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Algoma Steel Group Inc. (ASTL) and Algoma Steel Group Inc. Warrant (ASTLW). The values are adjusted to include any dividend payments, if applicable.

ASTL vs. ASTLW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
ASTL Algoma Steel Group Inc.	0.73%	-57.40%	-0.25%	62.49%	-39.91%	-7.84%
ASTLW Algoma Steel Group Inc. Warrant	32.53%	-95.00%	-18.48%	59.31%	-59.62%	-13.33%

Fundamentals

Market Cap ASTL : $433.38M ASTLW : $10.43M
EPS ASTL : -$9.17 ASTLW : -$9.17
PS Ratio ASTL : 0.21 ASTLW : 0.01
PB Ratio ASTL : 0.88 ASTLW : 0.02
Total Revenue (TTM) ASTL : $2.09B ASTLW : $2.09B
Gross Profit (TTM) ASTL : -$655.19M ASTLW : -$655.19M
EBITDA (TTM) ASTL : -$442.87M ASTLW : -$442.87M

Returns By Period

In the year-to-date period, ASTL achieves a 0.73% return, which is significantly lower than ASTLW's 32.53% return.

ASTL

• 1D: 4.29%
• 1M: -10.02%
• YTD: 0.73%
• 6M: 16.17%
• 1Y: -23.19%
• 3Y*: -18.46%
• 5Y*: —
• 10Y*: —

ASTLW

• 1D: -0.60%
• 1M: -28.75%
• YTD: 32.53%
• 6M: -35.24%
• 1Y: -73.32%
• 3Y*: -61.56%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

ASTL vs. ASTLW — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ASTL

ASTL Risk / Return Rank: 28
ASTL Sharpe Ratio Rank: 26
ASTL Sortino Ratio Rank: 29
ASTL Omega Ratio Rank: 29
ASTL Calmar Ratio Rank: 26
ASTL Martin Ratio Rank: 28

ASTLW

ASTLW Risk / Return Rank: 28
ASTLW Sharpe Ratio Rank: 25
ASTLW Sortino Ratio Rank: 45
ASTLW Omega Ratio Rank: 42
ASTLW Calmar Ratio Rank: 11
ASTLW Martin Ratio Rank: 18

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ASTL vs. ASTLW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Algoma Steel Group Inc. (ASTL) and Algoma Steel Group Inc. Warrant (ASTLW). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	ASTL	ASTLW	Difference
Sharpe ratio Return per unit of total volatility	-0.33	-0.35	+0.02
Sortino ratio Return per unit of downside risk	-0.03	0.61	-0.64
Omega ratio Gain probability vs. loss probability	1.00	1.07	-0.07
Calmar ratio Return relative to maximum drawdown	-0.49	-0.83	+0.34
Martin ratio Return relative to average drawdown	-0.81	-1.21	+0.40
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ASTL vs. ASTLW - Sharpe Ratio Comparison

The current ASTL Sharpe Ratio is -0.33, which is comparable to the ASTLW Sharpe Ratio of -0.35. The chart below compares the historical Sharpe Ratios of ASTL and ASTLW, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	ASTL	ASTLW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.33	-0.35	+0.02
Sharpe Ratio (All Time) Calculated using the full available price history	-0.38	-0.44	+0.06

Correlation

The correlation between ASTL and ASTLW is 0.56, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

ASTL vs. ASTLW - Dividend Comparison

ASTL's dividend yield for the trailing twelve months is around 1.21%, while ASTLW has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022
ASTL Algoma Steel Group Inc.	1.21%	2.44%	2.04%	1.99%	3.15%
ASTLW Algoma Steel Group Inc. Warrant	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

ASTL vs. ASTLW - Drawdown Comparison

The maximum ASTL drawdown since its inception was -73.16%, smaller than the maximum ASTLW drawdown of -98.35%. Use the drawdown chart below to compare losses from any high point for ASTL and ASTLW.

Drawdown Indicators

	ASTL	ASTLW	Difference
Max Drawdown Largest peak-to-trough decline	-73.16%	-98.35%	+25.19%
Max Drawdown (1Y) Largest decline over 1 year	-55.13%	-89.15%	+34.02%
Current Drawdown Current decline from peak	-65.25%	-97.48%	+32.23%
Average Drawdown Average peak-to-trough decline	-38.49%	-66.57%	+28.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	33.43%	61.10%	-27.67%

Volatility

ASTL vs. ASTLW - Volatility Comparison

The current volatility for Algoma Steel Group Inc. (ASTL) is 23.11%, while Algoma Steel Group Inc. Warrant (ASTLW) has a volatility of 60.30%. This indicates that ASTL experiences smaller price fluctuations and is considered to be less risky than ASTLW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ASTL	ASTLW	Difference
Volatility (1M) Calculated over the trailing 1-month period	23.11%	60.30%	-37.19%
Volatility (6M) Calculated over the trailing 6-month period	56.80%	141.29%	-84.49%
Volatility (1Y) Calculated over the trailing 1-year period	70.69%	209.21%	-138.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	51.54%	124.01%	-72.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	51.54%	124.01%	-72.47%

Financials

ASTL vs. ASTLW - Profitability Comparison

The chart below illustrates the profitability comparison between Algoma Steel Group Inc. and Algoma Steel Group Inc. Warrant over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

ASTL - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Algoma Steel Group Inc. reported a gross profit of -384.69M and revenue of 454.63M. Therefore, the gross margin over that period was -84.6%.

ASTLW - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Algoma Steel Group Inc. Warrant reported a gross profit of -384.69M and revenue of 454.63M. Therefore, the gross margin over that period was -84.6%.

ASTL - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Algoma Steel Group Inc. reported an operating income of -403.57M and revenue of 454.63M, resulting in an operating margin of -88.8%.

ASTLW - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Algoma Steel Group Inc. Warrant reported an operating income of -403.57M and revenue of 454.63M, resulting in an operating margin of -88.8%.

ASTL - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Algoma Steel Group Inc. reported a net income of -364.40M and revenue of 454.63M, resulting in a net margin of -80.2%.

ASTLW - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Algoma Steel Group Inc. Warrant reported a net income of -364.40M and revenue of 454.63M, resulting in a net margin of -80.2%.