ASTLW vs. ASTL

Last updated Apr 1, 2026

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

Performance

ASTLW vs. ASTL - Performance Comparison

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

ASTLW vs. ASTL - Yearly Performance Comparison

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

Fundamentals

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

Returns By Period

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

ASTLW

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

ASTL

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

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

Return for Risk

ASTLW vs. ASTL — Risk / Return Rank

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

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

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

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.

ASTLW vs. ASTL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Algoma Steel Group Inc. Warrant (ASTLW) and Algoma Steel Group Inc. (ASTL). 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.

	ASTLW	ASTL	Difference
Sharpe ratio Return per unit of total volatility	-0.35	-0.33	-0.02
Sortino ratio Return per unit of downside risk	0.61	-0.03	+0.64
Omega ratio Gain probability vs. loss probability	1.07	1.00	+0.07
Calmar ratio Return relative to maximum drawdown	-0.83	-0.49	-0.34
Martin ratio Return relative to average drawdown	-1.21	-0.81	-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.

ASTLW vs. ASTL - Sharpe Ratio Comparison

The current ASTLW Sharpe Ratio is -0.35, which is comparable to the ASTL Sharpe Ratio of -0.33. The chart below compares the historical Sharpe Ratios of ASTLW and ASTL, 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

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

Correlation

The correlation between ASTLW and ASTL 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

ASTLW vs. ASTL - Dividend Comparison

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

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

Drawdowns

ASTLW vs. ASTL - Drawdown Comparison

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

Drawdown Indicators

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

Volatility

ASTLW vs. ASTL - Volatility Comparison

Algoma Steel Group Inc. Warrant (ASTLW) has a higher volatility of 60.30% compared to Algoma Steel Group Inc. (ASTL) at 23.11%. This indicates that ASTLW's price experiences larger fluctuations and is considered to be riskier than ASTL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

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

Financials

ASTLW vs. ASTL - Profitability Comparison

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

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 - 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 - 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 - 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 - 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%.

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%.