$Algoma Steel (ASTL.US)$🎯 On July 28, 2023, the current pri...

New data: The last 3 quarters and the annual report of 2023.

In 2023, revenue declined by 27%, and operating profit declined significantly by 79.4% due to a significant increase in costs. Net income decreased by 65.2%. Interest expenses accounted for 7.5% of operating profit, indicating a relatively light burden.

In 2023, there is other net income of 0.11 billion, and if not included, the net profit in 2023 can only reach around 0.21 billion. From the quarterly report, the revenue of the last three quarters has declined significantly, and the net profit in the past two quarters has started to decline.

In 2023, the asset-liability ratio decreased slightly from 41.3% to 40.5%. The accounts receivable decreased sharply, but the inventory increased by 0.24 billion to reach 0.72 billion. Long-term borrowings were 0.11 billion, accounting for 7.5% of net assets of 1.462 billion, with a relatively low leverage ratio.

From the quarterly report, the operating net amount of the past three quarters is negative, the investment net amount is 0.085 billion per quarter, and after deducting the total liabilities from the current assets, there is still 0.37 billion, which can last for a little over a year at the current rate of expenditure.

Currently, the P/E ratio is 3.3. If other income is excluded, the corresponding P/E ratio is 4.7, which doesn't seem high, but the industry seems to have reached its peak, and subsequent financial reports may continue to worsen. It is advisable to temporarily hold a low position and observe.