Algoma Steel Number Of Shares Shorted vs. Total Debt
| ASTL Stock | 15.02 0.10 0.67% |
For Algoma Steel profitability analysis, we use financial ratios and fundamental drivers that measure the ability of Algoma Steel to generate income relative to revenue, assets, operating costs, and current equity. These fundamental indicators attest to how well Algoma Steel Group utilizes its assets to generate profit and value for its shareholders. The profitability module also shows relationships between Algoma Steel's most relevant fundamental drivers. It provides multiple suggestions of what could affect the performance of Algoma Steel Group over time as well as its relative position and ranking within its peers.
Algoma |
Algoma Steel Group Total Debt vs. Number Of Shares Shorted Fundamental Analysis
Comparative valuation techniques use various fundamental indicators to help in determining Algoma Steel's current stock value. Our valuation model uses many indicators to compare Algoma Steel value to that of its competitors to determine the firm's financial worth. Algoma Steel Group is rated third in number of shares shorted category among its peers. It is rated second in total debt category among its peers making up about 122.06 of Total Debt per Number Of Shares Shorted. As of the 30th of November 2024, Total Debt To Capitalization is likely to drop to 0.08. Comparative valuation analysis is a catch-all model that can be used if you cannot value Algoma Steel by discounting back its dividends or cash flows. This model doesn't attempt to find an intrinsic value for Algoma Steel's Stock. Still, instead, it compares the stock's price multiples to a benchmark or nearest competition to determine if the stock is relatively undervalued or overvalued.Algoma Total Debt vs. Number Of Shares Shorted
Number of Shares Shorted is the total amount of shares that are currently sold short by investors. When a stock is sold short, the short seller assumes the responsibility of repurchasing the stock at a lower price. The speculator will make money if the stock goes down in price or will experience a loss if the stock price goes up.
Algoma Steel |
| = | 1.28 M |
If a large number of investors decide to short sell an equity instrument within a small period of time, their combined action can significantly affect the price of the stock.
Total Debt refers to the amount of long term interest-bearing liabilities that a company carries on its balance sheet. That may include bonds sold to the public, notes written to banks or capital leases. Typically, debt can help a company magnify its earnings, but the burden of interest and principal payments will eventually prevent the firm from borrow excessively.
Algoma Steel |
| = | 156.5 M |
In most industries, total debt may also include the current portion of long-term debt. Since debt terms vary widely from one company to another, simply comparing outstanding debt obligations between different companies may not be adequate. It is usually meant to compare total debt amounts between companies that operate within the same sector.
Algoma Total Debt vs Competition
Algoma Steel Group is rated second in total debt category among its peers. Total debt of Materials industry is presently estimated at about 588.09 Million. Algoma Steel totals roughly 156.5 Million in total debt claiming about 27% of all equities under Materials industry.
Algoma Steel Profitability Projections
The most important aspect of a successful company is its ability to generate a profit. For investors in Algoma Steel, profitability is also one of the essential criteria for including it into their portfolios because, without profit, Algoma Steel will eventually generate negative long term returns. The profitability progress is the general direction of Algoma Steel's change in net profit over the period of time. It can combine multiple indicators of Algoma Steel, where stable trends show no significant progress. An accelerating trend is seen as positive, while a decreasing one is unfavorable. A rising trend means that profits are rising, and operational efficiency may be rising as well. A decreasing trend is a sign of poor performance and may indicate upcoming losses.
| Last Reported | Projected for Next Year | ||
| Accumulated Other Comprehensive Income | 267.1 M | 280.5 M | |
| Operating Income | 164 M | 234.5 M | |
| Income Before Tax | 144.9 M | 121.4 M | |
| Total Other Income Expense Net | -19.1 M | -20.1 M | |
| Net Income Applicable To Common Shares | 343.3 M | 360.4 M | |
| Net Income | 105.2 M | 72.1 M | |
| Income Tax Expense | 39.7 M | 76.3 M | |
| Interest Income | 10 M | 9.5 M | |
| Net Interest Income | -34.9 M | -36.6 M | |
| Net Income From Continuing Ops | 105.2 M | 99.9 M | |
| Change To Netincome | -34 M | -32.3 M | |
| Net Income Per Share | 0.70 | 0.57 | |
| Income Quality | 2.80 | 2.94 | |
| Net Income Per E B T | 0.73 | 1.11 |
Algoma Profitability Driver Comparison
Profitability drivers are factors that can directly affect your investment outlook on Algoma Steel. Investors often realize that things won't turn out the way they predict. There are maybe way too many unforeseen events and contingencies during the holding period of Algoma Steel position where the market behavior may be hard to predict, tax policy changes, gold or oil price hikes, calamities change, and many others. The question is, are you prepared for these unexpected events? Although some of these situations are obviously beyond your control, you can still follow the important profit indicators to know where you should focus on when things like this occur. Below are some of the Algoma Steel's important profitability drivers and their relationship over time.
Use Algoma Steel in pair-trading
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.Algoma Steel Pair Trading
Algoma Steel Group Pair Trading Analysis
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.Use Investing Themes to Complement your Algoma Steel position
In addition to having Algoma Steel in your portfolios, you can quickly add positions using our predefined set of ideas and optimize them against your very unique investing style. A single investing idea is a collection of funds, stocks, ETFs, or cryptocurrencies that are programmatically selected from a pull of investment themes. After you determine your investment opportunity, you can then find an optimal portfolio that will maximize potential returns on the chosen idea or minimize its exposure to market volatility.Did You Try This Idea?
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You can either use a buy-and-hold strategy to lock in the entire theme or actively trade it to take advantage of the short-term price volatility of individual constituents. Macroaxis can help you discover thousands of investment opportunities in different asset classes. In addition, you can partner with us for reliable portfolio optimization as you plan to utilize Investment Grade ETFs Theme or any other thematic opportunities.
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To fully project Algoma Steel's future profitability, investors should examine all historical financial statements. These statements provide investors with a comprehensive snapshot of the financial position of Algoma Steel Group at a specified time, usually calculated after every quarter, six months, or one year. Three primary documents fall into the category of financial statements. These documents include Algoma Steel's income statement, its balance sheet, and the statement of cash flows.