Algoma Historical Balance Sheet
| ASTL Stock | 15.11 0.38 2.45% |
Trend analysis of Algoma Steel Group balance sheet accounts such as Short Long Term Debt Total of 148.7 M, Other Current Liabilities of 153.4 M or Total Current Liabilities of 406.7 M provides information on Algoma Steel's total assets, liabilities, and equity, which is the actual value of Algoma Steel Group to its prevalent stockholders. By breaking down trends over time using Algoma Steel balance sheet statements, investors will see what precisely the company owns and what it owes to creditors or other parties at the end of each accounting year.
Financial Statement Analysis is much more than just reviewing and examining Algoma Steel Group latest accounting reports to predict its past. Macroaxis encourages investors to analyze financial statements over time for various trends across multiple indicators and accounts to determine whether Algoma Steel Group is a good buy for the upcoming year.
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About Algoma Balance Sheet Analysis
Balance Sheet is a snapshot of the financial position of Algoma Steel Group at a specified time, usually calculated after every quarter, six months, or one year. Algoma Steel Balance Sheet has two main parts: assets and liabilities. Liabilities are the debts or obligations of Algoma Steel and are divided into current liabilities and long term liabilities. An asset, on the other hand, is anything of value that can be converted into cash and which Algoma currently owns. An asset can also be divided into two categories, current and non-current.
Algoma Steel Balance Sheet Chart
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Total Assets
Total assets refers to the total amount of Algoma Steel assets owned. Assets are items that have some economic value and are expended over time to create a benefit for the owner. These assets are usually recorded in Algoma Steel Group books under different categories such as cash, marketable securities, accounts receivable,prepaid expenses, inventory, fixed assets, intangible assets, other assets, marketable securities, accounts receivable, prepaid expenses and others. The total value of all owned resources that are expected to provide future economic benefits to the business, including cash, investments, accounts receivable, inventory, property, plant, equipment, and intangible assets.Total Current Liabilities
Total Current Liabilities is an item on Algoma Steel balance sheet that include short term debt, accounts payable, accrued salaries payable, payroll taxes payable, accrued liabilities and other debts. Total Current Liabilities of Algoma Steel Group are important to investors because some useful performance ratios such as Current Ratio and Quick Ratio require Total Current Liabilities to be accurate. The total amount of liabilities that a company is expected to pay within one year, including debts, accounts payable, and other short-term financial obligations.Property Plant And Equipment Net
The total value of a company's physical assets (such as land, buildings, and equipment) used in operations, net of depreciation. It reflects the company's investment in assets used for production.Cash
Cash refers to the most liquid asset of Algoma Steel Group, which is listed under current asset account on Algoma Steel Group balance sheet and usually includes currency, coins, checking accounts, and not deposited checks received from Algoma Steel customers. The amounts must be unrestricted with restricted cash listed in a different Algoma Steel account. The total amount of money in the form of currency that a company has in its possession. This includes all bills, coins, and funds in bank accounts.Long Term Debt
Long-term debt is a debt that Algoma Steel Group has held for over one year. Long-term debt appears on Algoma Steel Group balance sheet and also includes long-term leases. The most common forms of long term debt are bonds payable, long-term notes payable, mortgage payable, pension liabilities, and lease liabilities. In the corporate world, long-term debt is generally used to fund big-ticket items, such as machinery, buildings, and land. The total of long-term debt reported on Algoma Steel Group balance sheet is the sum of the balances of all categories of long-term debt. Debt that is not due within the current year and is often considered to be financing activities that are to be repaid over several years.Most accounts from Algoma Steel's balance sheet are interrelated and interconnected. However, analyzing balance sheet accounts one by one will only give a small insight into Algoma Steel Group current financial condition. On the other hand, looking into the entire matrix of balance sheet accounts, and analyzing their relationships over time can provide a more complete picture of the company financial strength now and in the future. Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Algoma Steel Group. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors. At this time, Algoma Steel's Non Current Liabilities Total is very stable compared to the past year. As of the 27th of November 2024, Other Current Assets is likely to grow to about 90.5 M, while Total Assets are likely to drop about 2.3 B.
| 2021 | 2022 | 2023 | 2024 (projected) | Short and Long Term Debt Total | 96.2M | 122.3M | 156.5M | 148.7M | Total Assets | 2.7B | 2.5B | 2.7B | 2.3B |
Algoma Steel balance sheet Correlations
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Algoma Steel Account Relationship Matchups
High Positive Relationship
High Negative Relationship
Pair Trading with Algoma Steel
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Algoma Steel position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Algoma Steel will appreciate offsetting losses from the drop in the long position's value.Moving against Algoma Stock
| 0.82 | PFE | Pfizer Inc CDR | PairCorr |
| 0.59 | ORE | Orezone Gold Corp | PairCorr |
| 0.55 | INFM | Infinico Metals Corp | PairCorr |
The ability to find closely correlated positions to Algoma Steel could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Algoma Steel when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Algoma Steel - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Algoma Steel Group to buy it.
The correlation of Algoma Steel is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Algoma Steel moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Algoma Steel Group moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Algoma Steel can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out Trending Equities to better understand how to build diversified portfolios, which includes a position in Algoma Steel Group. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in board of governors. You can also try the Odds Of Bankruptcy module to get analysis of equity chance of financial distress in the next 2 years.