Algoma Net Tangible Assets vs Total Assets Analysis
| ASTL Stock | 15.71 0.21 1.32% |
Algoma Steel financial indicator trend analysis is way more than just evaluating Algoma Steel Group prevailing accounting drivers to predict future trends. We encourage investors to analyze account correlations over time for multiple indicators to determine whether Algoma Steel Group is a good investment. Please check the relationship between Algoma Steel Net Tangible Assets and its Total Assets accounts. 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.
Net Tangible Assets vs Total Assets
Net Tangible Assets vs Total Assets Correlation Analysis
The overlapping area represents the amount of trend that can be explained by analyzing historical patterns of Algoma Steel Group Net Tangible Assets account and Total Assets. At this time, the significance of the direction appears to have very strong relationship.
The correlation between Algoma Steel's Net Tangible Assets and Total Assets is 0.85. Overlapping area represents the amount of variation of Net Tangible Assets that can explain the historical movement of Total Assets in the same time period over historical financial statements of Algoma Steel Group, assuming nothing else is changed. The correlation between historical values of Algoma Steel's Net Tangible Assets and Total Assets is a relative statistical measure of the degree to which these accounts tend to move together. The correlation coefficient measures the extent to which Net Tangible Assets of Algoma Steel Group are associated (or correlated) with its Total Assets. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when Total Assets has no effect on the direction of Net Tangible Assets i.e., Algoma Steel's Net Tangible Assets and Total Assets go up and down completely randomly.
Correlation Coefficient | 0.85 |
| Relationship Direction | Positive |
| Relationship Strength | Strong |
Net Tangible Assets
The total assets of a company minus any intangible assets such as patents, copyrights, and goodwill; it represents the physical assets of a company.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.Most indicators from Algoma Steel's fundamental ratios are interrelated and interconnected. However, analyzing fundamental ratios indicators 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 fundamental ratios indicators, 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 Tax Provision is very stable compared to the past year. As of the 23rd of November 2024, Enterprise Value is likely to grow to about 3.5 B, while Selling General Administrative is likely to drop about 93.3 M.
| 2021 | 2022 | 2023 | 2024 (projected) | Total Operating Expenses | 103M | 99.3M | 114.7M | 109.0M | Cost Of Revenue | 2.3B | 2.4B | 2.5B | 2.3B |
Algoma Steel fundamental ratios Correlations
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Algoma Steel Account Relationship Matchups
High Positive Relationship
High Negative Relationship
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 Portfolio File Import module to quickly import all of your third-party portfolios from your local drive in csv format.