Deep-value & fundamental analysis. Focused on asset reproduction value, Earnings Power Value and Margins of Safety. Canadian & global equities.
Joined May 2026
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Algoma Steel ($ASTL.TO ) has had a good week after a mediocre year. For a value investor looking for hidden gems in Canada's small caps - this one has so much more room to grow. The market continues to get this stocks potential wrong. A valuation thread 🧵👇
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The single deal injects cash and orders worth more than half of Algoma’s current market cap. It will provide Algoma with Canada''s ONLY domestic structural steel beam mill. This will be required purchasing for Canada's planned nation building projects
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Peak Capex is behind them. The market is pricing $ASTL.TO at a compressed ~0.45x P/S, completely blind to these massive domestic catalysts.
I’ve mapped the full fundamental model for my debut post at Maple Money Manager. Read the full analysis for free:
open.substack.com/pub/maplem…
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