What is Algoma Steel Group Inc.'s Shariah compliance score?

Algoma Steel Group Inc.'s (ASTL) compliance score is being calculated. Check HalalScreener.app for the latest AAOIFI screening results.

Does Algoma Steel Group Inc. pass AAOIFI screening?

Algoma Steel Group Inc. (ASTL) does not pass AAOIFI Shariah screening. AAOIFI requires: (1) no primary involvement in prohibited activities like alcohol, gambling, or conventional banking, (2) debt-to-market-cap below 30% (ASTL: 227.8%), (3) interest-bearing deposits below 30% (ASTL: 20.5%), and (4) prohibited income below 5% (ASTL: 0.3%). HalalScreener provides free AAOIFI screening for 10,000+ stocks at halalscreener.app.

How much purification is needed for Algoma Steel Group Inc. stock?

Algoma Steel Group Inc. (ASTL) has a non-permissible income ratio of 0.32%. Muslim investors should purify this percentage of any dividends received and capital gains realized from ASTL shares by donating it to charity. HalalScreener's purification calculator at halalscreener.app/en/purification automates this calculation using the latest financial data.

Where can I screen Algoma Steel Group Inc. for Shariah compliance for free?

HalalScreener (halalscreener.app) offers free Shariah compliance screening for Algoma Steel Group Inc. (ASTL) and 10,000+ other US-listed stocks, ETFs, and 100+ cryptocurrencies. The screening uses AAOIFI Standard No. 21 and shows all financial ratios transparently. No credit card or signup required for basic screening. HalalScreener also includes an AI Islamic Scholar for follow-up questions about ASTL's compliance across different madhabs (Hanafi, Shafi'i, Maliki, Hanbali, Ja'fari).

ASTL: Is Algoma Steel Group Inc. Halal?

Algoma Steel Group Inc.

NASDAQBasic MaterialsCA

$3.59

-4.27%

Market Cap: 378.3M

Compliance Status

Not Halal

Screened on Jul 18, 2026 · AAOIFI Standard 21

Non-Compliant

0Score

Is Algoma Steel Group Inc. (ASTL) halal? Not Halal. Based on AAOIFI screening, Algoma Steel Group Inc. passes the business activity screen but fails financial ratio screens with a compliance score of 0/100 (Grade: F).

AvoidBorderlineClean

Business activity

What the company sells is permissible.

Passed

Company debt

Over the limit

How much the company borrows, compared to its total value. AAOIFI allows up to 30%.

227.8% of 30.0% limit

What this means for you

Most scholars advise not holding ASTL

It does not pass AAOIFI Shariah screening.

See halal alternatives from the same sector further down this page

About Algoma Steel Group Inc.

Algoma Steel Group Inc. operates as a key North American producer and distributor of steel products. The company's offerings include a diverse range of flat and sheet steels, such as temper-rolled, cold-rolled, hot-rolled pickled and oiled items, floor plates, and custom-cut lengths. These flat products serve critical sectors like the automotive industry, manufacturers of hollow structural products, and various light manufacturing and transportation businesses. Additionally, Algoma Steel supplies plate steel—in rolled, hot-rolled, and heat-treated forms—which is integral to the construction of railcars, buildings, bridges, heavy off-highway equipment, storage tanks, ships, and military defense applications. Established in 1901, Algoma Steel Group Inc. is headquartered in Sault Ste. Marie, Canada.

Sector: Basic Materials · Industry: Steel

Shariah Compliance Status

AAOIFI Standard 21Updated Jul 18, 2026

Compliance History

Not Halal, unchanged since Jun 2026.

No status changes recorded since we began tracking.

Tracked since Jun 2026. Updates automatically on each re-screen.

Fiscal: FY 2026Data source: FMP

Halal Alternatives in Basic Materials

This stock is not Shariah-compliant. Here are halal alternatives from the same sector, ranked by compliance score:

NWPXA+

NWPX Infrastructure, Inc.

$120.30

-0.24%

CRMLA+

Critical Metals Corp.

$10.15

+0.79%

GROYA+

Gold Royalty Corp.

$3.22

-1.44%

IDRA+

Idaho Strategic Resources, Inc.

$35.44

-1.80%

HLA+

Hecla Mining Company

$15.40

-0.90%

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Frequently Asked Questions

Is Algoma Steel Group Inc. (ASTL) halal to invest in?

Algoma Steel Group Inc. (ASTL) is rated Not Halal under AAOIFI Standard 21 screening. It fails either the business activity screen (primary involvement in prohibited sectors such as conventional banking, alcohol, or gambling) or one of the quantitative financial ratio thresholds. Muslim investors should avoid or exit this position.

Why did Algoma Steel Group Inc. get a F compliance rating?

Algoma Steel Group Inc. (ASTL) received a grade of F (Non-Compliant) based on three AAOIFI Standard 21 financial ratios: debt-to-market-cap of 227.8% (limit 30%); interest-bearing deposits of 20.5% (limit 30%); prohibited income of 0.32% (limit 5%). The grade reflects the margin of safety across all three ratios relative to their thresholds.

What could change Algoma Steel Group Inc.'s Shariah verdict?

Algoma Steel Group Inc.'s verdict is re-evaluated at each annual re-screen. Three events could change it: (1) the debt-to-market-cap ratio crossing 30%, typically from new debt issuance or a major drop in share price; (2) interest-bearing deposits exceeding 30% of market cap; or (3) prohibited revenue (alcohol, gambling, conventional finance, etc.) exceeding 5% of total revenue. Verdict flips are tracked in the compliance history section above.

How often is Algoma Steel Group Inc. re-screened for Shariah compliance?

Algoma Steel Group Inc. (ASTL) is re-screened annually using the most recent full-year financial data from SEC filings. HalalScreener also triggers an on-demand re-screen whenever the stored data is more than 7 days old, ensuring the ratios reflect the latest available financial statements. Last screened: Jul 18, 2026.

Screened according to AAOIFI Standard No. 21 · For informational purposes only. Consult a qualified Islamic finance advisor before investing.

Disclaimer: This screening is for informational purposes only and does not constitute financial, legal, or religious advice. Compliance is evaluated using AAOIFI financial standards (debt, deposits, and prohibited income ratios) and publicly available data. Ethical, political, social, or environmental considerations are outside the scope of this screening. Individual scholars and methodologies may differ. Always consult a qualified Islamic finance advisor before making investment decisions.