Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Richard Sloan from the University of Michigan was first to document what is referred to as the "accrual anomaly". His 1996 paper found that shares of companies with small or negative accruals vastly outperform (+10%) those of companies with large ones.
Algoma Steel Group's Sloan Ratio for the quarter that ended in Mar. 2026 was -36.93%.
Warning Sign:
When sloan ratio (-28.66)% higher than 25% or lower than -25%, earnings are more likely to be made up of accruals.
As of Mar. 2026, Algoma Steel Group has a Sloan Ratio of -36.93%, indicating earnings are more likely to be made up of accruals.
Algoma Steel Group (NAS:ASTL) Sloan Ratio % Explanation
A former University of Michigan researcher, Richard Sloan's 1996 paper found that shares of companies with small or negative accruals vastly outperform (+10%) those of companies with large ones. In fact, for the 40-year period between 1962 and 2001, buying the lowest accrual companies and shorting the highest accrual companies resulted in an average annual compounded return of 18%, more than double the S&P 500's 7.4% annual return over the same period.
If the Sloan Ratio is between -10% and 10%, the company is in the safe zone and there is no funny business with accruals.
If the Sloan Ratio is less than between -25% and -10% on the negative side, and between 10% and 25% on the positive side, this is a warning stage of accrual build up.
If the Sloan Ratio is less than -25% or greater than 25%, and this ratio is consistent over several quarters or even years, be careful. Earnings are highly likely to be made up of accruals.
As of Mar. 2026, Algoma Steel Group has a Sloan Ratio of -36.93%, indicating earnings are more likely to be made up of accruals.
Algoma Steel Group Sloan Ratio % Related Terms
Algoma Steel Group Sloan Ratio % Historical Data
* Premium members only.
The historical data trend for Algoma Steel Group's Sloan Ratio % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Steel subindustry, Algoma Steel Group's Sloan Ratio %, along with its competitors' market caps and Sloan Ratio % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Algoma Steel Group Sloan Ratio % vs Steel Industry
For the Steel industry and Basic Materials sector, Algoma Steel Group's Sloan Ratio % distribution charts can be found below:
* The bar in red indicates where Algoma Steel Group's Sloan Ratio % falls into.
Earnings contain a lot of non cash earnings which is called accruals. The Sloan ratio is a way to identify firms with low non-cash or accrual-derived earnings relative to their cash flow.
Algoma Steel Group's Sloan Ratio for the fiscal year that ended in Dec. 2025 is calculated as
Algoma Steel Group's Net Income for the trailing twelve months (TTM) ended in Mar. 2026 was -80.919 (Jun. 2025 ) + -350.658 (Sep. 2025 ) + -264.371 (Dec. 2025 ) + -116.181 (Mar. 2026 ) = $-812 Mil.
Algoma Steel Group's Cash Flow from Operations for the trailing twelve months (TTM) ended in Mar. 2026 was -27.729 (Jun. 2025 ) + -84.791 (Sep. 2025 ) + -2.175 (Dec. 2025 ) + -8.892 (Mar. 2026 ) = $-124 Mil.
Algoma Steel Group's Cash Flow from Investing for the trailing twelve months (TTM) ended in Mar. 2026 was -60.287 (Jun. 2025 ) + -53.275 (Sep. 2025 ) + -21.167 (Dec. 2025 ) + -14.869 (Mar. 2026 ) = $-150 Mil.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Algoma Steel Group (ASTL) has a Sloan Ratio % of -36.93% as of Mar. 2026. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Algoma Steel Group and its competitors.
Is Algoma Steel Group's Sloan Ratio % too high?
Algoma Steel Group's current Sloan Ratio % is -36.93%. Overall, Algoma Steel Group has a GF Score™ of 57/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Algoma Steel Group's Sloan Ratio % compare to NUE and STLD?
Algoma Steel Group's Sloan Ratio % of -36.93% can be compared against companies in the Steel industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Sloan Ratio % for a Steel company?
A good Sloan Ratio % depends on the Steel industry context. However, Sloan Ratio % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Sloan Ratio % mean?
A high Sloan Ratio % can signal that a stock is expensive relative to its fundamentals. Sloan ratio measures earnings quality based on the amount of accruals. View historical data on Algoma Steel Group and its competitors. Algoma Steel Group's current Sloan Ratio % is -36.93%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Algoma Steel Group stock overvalued right now?
Based on GuruFocus' analysis, Algoma Steel Group (ASTL) is currently considered Possible Value Trap. The stock's GF Value™ is $5.53, compared to a current price of $3.82 — trading 30.9% below its estimated fair value. The current Sloan Ratio % is -36.93%. Algoma Steel Group's overall GF Score™ is 57/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Sloan Ratio % calculated?
Sloan Ratio % is calculated from a company's financial statements. For Algoma Steel Group (ASTL), the current Sloan Ratio % is -36.93% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Algoma Steel Group (ASTL) Overvalued in 2026?
Based on GuruFocus' analysis, Algoma Steel Group stock appears to be undervalued.
The current stock price of $3.82 is trading 30.9% below its estimated GF Value™ of $5.53.
GuruFocus considers Algoma Steel Group to be Possible Value Trap.
Key valuation signals for ASTL:
Sloan Ratio %: -36.93%
GF Value™: $5.53 vs. price of $3.82 (30.9% below fair value)
No single metric tells the full story. See the ASTL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Algoma Steel Group Inc is a fully integrated steel producer of hot and cold rolled steel products, including coiled sheet and plate, strategically located. The firm operates in a single segment of basic steel production including sheets, plates, slabs, and freights. The company's revenue is generated from contracts to produce, ship, and deliver steel products Geographically it serves Canada, the United States, and the rest of the world, whilst driving key revenue from United States. The company generates the majority of its revenue from the sale of Steel sheets and strips.
57GF Score
Get the complete analysis for ASTL
Sloan Ratio % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
ASTL has been successfully added to your 
