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AA logoAlcoa Corporation(AA)Earnings, Financials & Key Ratios

AA•NYSE
$63.07
$16.33B mkt cap·14.2× P/E·Price updated May 6, 2026
SectorBasic MaterialsIndustryAluminumSub-IndustryBauxite, Alumina and Primary Aluminum
AboutAlcoa Corporation, together with its subsidiaries, produces and sells bauxite, alumina, and aluminum products in the United States, Spain, Australia, Iceland, Norway, Brazil, Canada, and internationally. The company operates through three segments: Bauxite, Alumina, and Aluminum. It engages in bauxite mining operations; and processes bauxite into alumina and sells it to customers who process it into industrial chemical products, as well as aluminum smelting and casting businesses. The company offers primary aluminum in the form of alloy ingot or value-add ingot to customers that produce products for the transportation, building and construction, packaging, wire, and other industrial markets. In addition, it owns hydro power plants that generates and sells electricity in the wholesale market to traders, large industrial consumers, distribution companies, and other generation companies. The company was formerly known as Alcoa Upstream Corporation and changed its name to Alcoa Corporation in October 2016. The company was founded in 1888 and is headquartered in Pittsburgh, Pennsylvania.Show more
  • Revenue$12.74B+4.5%
  • EBITDA$1.59B-11.8%
  • Net Income$1.15B+1813.3%
  • EPS (Diluted)4.44+1485.7%
  • Gross Margin13.58%+10.4%
  • EBITDA Margin12.52%-15.7%
  • Operating Margin7.62%-20.3%
  • Net Margin9.01%+1730.6%
  • ROE20.2%+1752.1%
  • ROIC12.72%-0.3%
  • Debt/Equity0.00-100.0%
  • Interest Coverage6.15-17.8%
Analysis→Technical→

AA Key Insights

Alcoa Corporation (AA) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Company is almost debt free
  • ✓Strong Piotroski F-Score: 7/9
  • ✓Momentum leader: RS Rating 85 (top 15%)

✗Weaknesses

  • ✗Weak 3Y average ROE of 3.6%
  • ✗Shares diluted 23.0% in last year
  • ✗Thin 5Y average net margin of 1.2%

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

AA Price & Volume

Alcoa Corporation (AA) stock price & volume — 10-year historical chart

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AA Growth Metrics

Alcoa Corporation (AA) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years1.28%
5 Years6.33%
3 Years-0.07%
TTM3.63%

Profit CAGR

10 Years-
5 Years-
3 Years-
TTM1813.33%

EPS CAGR

10 Years-
5 Years-
3 Years-
TTM2875%

Return on Capital

10 Years9.71%
5 Years10.62%
3 Years6.3%
Last Year8.4%

AA Recent Earnings

Alcoa Corporation (AA) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 9/12 qtrs (75%)●Beat Revenue 6/12 qtrs (50%)
Q2 2026Latest
Apr 16, 2026
EPS
$1.40
Est $1.60
-12.5%
Revenue
$3.2B
Est $3.3B
-2.6%
Q1 2026
Jan 22, 2026
EPS
$1.26
Est $0.93
+36.1%
Revenue
$3.4B
Est $3.3B
+5.3%
Q4 2025
Oct 22, 2025
EPS
$0.02
Est $0.14
+85.8%
Revenue
$3.0B
Est $3.1B
-3.1%
Q3 2025
Jul 16, 2025
EPS
$0.39
Est $0.32
+21.0%
Revenue
$3.0B
Est $2.9B
+3.8%
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestApr 16, 2026
$1.40vs $1.60-12.5%
$3.2Bvs $3.3B-2.6%
Q1 2026Jan 22, 2026
$1.26vs $0.93+36.1%
$3.4Bvs $3.3B+5.3%
Q4 2025Oct 22, 2025
$0.02vs $0.14+85.8%
$3.0Bvs $3.1B-3.1%
Q3 2025Jul 16, 2025
$0.39vs $0.32+21.0%
$3.0Bvs $2.9B+3.8%
Based on last 12 quarters of dataView full earnings history →

AA Peer Comparison

Alcoa Corporation (AA) competitors in Bauxite, Alumina and Primary Aluminum — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
CENX logoCENXCentury Aluminum CompanyDirect Competitor5.81B62.2818.931.6%3.37%12.22%0.78
KALU logoKALUKaiser Aluminum CorporationDirect Competitor2.85B175.9225.9911.54%4.14%18.68%1.36
CSTM logoCSTMConstellium SEDirect Competitor4.49B32.9617.1715.19%4.75%46.87%3.54%2.00
NEM logoNEMNewmont CorporationProduct Competitor120.78B109.0117.0119.08%30.54%15.58%6.04%0.01
FCX logoFCXFreeport-McMoRan Inc.Product Competitor82.93B57.7037.961.12%10.34%8.91%1.35%0.37
MP logoMPMP Materials Corp.Product Competitor12.09B68.06-136.1235.12%-31.18%-5.04%0.44
TECK logoTECKTeck Resources LimitedProduct Competitor27.83B57.8027.7518.56%14.91%7.09%0.40
RIO logoRIORio Tinto GroupProduct Competitor200.61B100.5014.22-0.71%19.42%33.83%2.98%0.24

Compare AA vs Peers

Alcoa Corporation (AA) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs CENX

Most directly comparable listed peer for AA.

Scale Benchmark

vs CAT

Larger-name benchmark to compare AA against a more recognizable public peer.

Peer Set

Compare Top 5

vs CENX, KALU, CSTM, NEM

AA Income Statement

Alcoa Corporation (AA) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Sales/Revenue11.78B13.52B10.49B9.37B12.44B12.76B10.71B12.18B12.74B
Revenue Growth %26.33%14.75%-22.36%-10.7%32.7%2.61%-16.11%13.81%4.53%
Cost of Goods Sold9.76B10.82B9.29B8.61B9.81B10.83B10.46B10.69B11.01B
COGS % of Revenue82.85%80.07%88.55%91.84%78.92%84.85%97.75%87.71%86.42%
Gross Profit
2.02B▲ 0%
2.69B▲ 33.4%
1.2B▼ 55.4%
765M▼ 36.4%
2.62B▲ 242.7%
1.93B▼ 26.3%
241M▼ 87.5%
1.5B▲ 521.6%
1.73B▲ 15.4%
Gross Margin %17.15%19.93%11.45%8.16%21.08%15.15%2.25%12.29%13.58%
Gross Profit Growth %184.91%33.37%-55.38%-36.36%242.75%-26.28%-87.53%521.58%15.42%
Operating Expenses312M279M307M233M258M236M265M332M758M
OpEx % of Revenue2.65%2.06%2.93%2.49%2.07%1.85%2.48%2.72%5.95%
Selling, General & Admin284M248M280M206M227M204M226M275M299M
SG&A % of Revenue2.41%1.83%2.67%2.2%1.83%1.6%2.11%2.26%2.35%
Research & Development32M31M27M27M31M32M39M57M24M
R&D % of Revenue0.27%0.23%0.26%0.29%0.25%0.25%0.36%0.47%0.19%
Other Operating Expenses00000000435M
Operating Income
1.71B▲ 0%
2.42B▲ 41.4%
895M▼ 62.9%
532M▼ 40.6%
2.36B▲ 344.4%
1.7B▼ 28.2%
-24M▼ 101.4%
1.17B▲ 4958.3%
971M▼ 16.7%
Operating Margin %14.5%17.87%8.53%5.68%19.01%13.3%-0.22%9.57%7.62%
Operating Income Growth %343.64%41.39%-62.94%-40.56%344.36%-28.21%-101.41%4958.33%-16.72%
EBITDA2.46B3.15B1.61B1.19B3.03B2.31B608M1.81B1.59B
EBITDA Margin %20.88%23.29%15.32%12.64%24.35%18.13%5.68%14.84%12.52%
EBITDA Growth %123.03%27.97%-48.92%-26.31%155.53%-23.58%-73.73%197.37%-11.84%
D&A (Non-Cash Add-back)752M733M713M653M664M617M632M642M623M
EBIT1.26B1.75B-317M319M1.39B808M-477M445M1.24B
Net Interest Income-104M-122M-121M-146M-195M-106M-107M-156M-158M
Interest Income000000000
Interest Expense104M122M121M146M195M106M107M156M158M
Other Income/Expense-549M-790M-1.33B-359M-1.17B-995M-560M-877M112M
Pretax Income
1.16B▲ 0%
1.63B▲ 40.2%
-438M▼ 127.0%
173M▲ 139.5%
1.2B▲ 593.1%
702M▼ 41.5%
-584M▼ 183.2%
289M▲ 149.5%
1.08B▲ 274.7%
Pretax Margin %9.84%12.02%-4.17%1.85%9.64%5.5%-5.45%2.37%8.5%
Income Tax592M732M415M187M629M664M189M265M-49M
Effective Tax Rate %51.08%45.05%-94.75%108.09%52.46%94.59%-32.36%91.7%-4.52%
Net Income
217M▲ 0%
250M▲ 15.2%
-1.13B▼ 550.0%
-170M▲ 84.9%
429M▲ 352.4%
-123M▼ 128.7%
-651M▼ 429.3%
60M▲ 109.2%
1.15B▲ 1813.3%
Net Margin %1.84%1.85%-10.72%-1.81%3.45%-0.96%-6.08%0.49%9.01%
Net Income Growth %154.25%15.21%-550%84.89%352.35%-128.67%-429.27%109.22%1813.33%
Net Income (Continuing)559M893M-853M-14M570M38M-773M24M1.13B
Discontinued Operations000000000
Minority Interest2.27B1.97B1.77B1.71B1.61B1.51B1.59B076M
EPS (Diluted)
1.16▲ 0%
1.20▲ 3.4%
-6.07▼ 605.8%
-0.91▲ 85.0%
2.26▲ 348.4%
-0.57▼ 125.2%
-3.65▼ 540.4%
0.28▲ 107.7%
4.44▲ 1485.7%
EPS Growth %152.97%3.45%-605.83%85.01%348.35%-125.22%-540.35%107.67%1485.71%
EPS (Basic)1.181.22-6.07-0.912.30-0.57-3.650.284.47
Diluted Shares Outstanding186.98M188.53M185M186M190M181M178M214.05M263.3M
Basic Shares Outstanding184.42M186.23M185M186M186M181M178M212.42M260.93M
Dividend Payout Ratio----4.43%--148.33%9.06%

AA Balance Sheet

Alcoa Corporation (AA) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Total Current Assets4.24B4.33B3.53B4.52B5.03B5.25B4.41B4.91B5.47B
Cash & Short-Term Investments1.36B1.11B879M1.61B1.81B1.36B944M1.14B1.6B
Cash Only1.36B1.11B879M1.61B1.81B1.36B944M1.14B1.6B
Short-Term Investments000000000
Accounts Receivable1.04B1B660M556M884M909M808M1.24B1.27B
Days Sales Outstanding32.3227.0822.9521.6525.942627.5537.1236.34
Inventory1.45B1.82B1.64B1.4B1.96B2.43B2.16B2B2.18B
Days Inventory Outstanding54.3461.3464.5759.2972.7481.875.2768.2572.19
Other Current Assets113M73M59M669M14M551M495M539M427M
Total Non-Current Assets13.21B11.8B11.1B10.34B10B9.51B9.75B9.15B10.74B
Property, Plant & Equipment9.14B8.33B7.92B7.19B6.62B6.49B6.79B6.39B20.54B
Fixed Asset Turnover1.29x1.62x1.33x1.30x1.88x1.97x1.58x1.91x0.62x
Goodwill154M151M150M145M144M145M146M142M0
Intangible Assets62M57M52M45M36M29M37M36M0
Long-Term Investments1.41B1.36B1.11B1.05B1.2B1.12B979M980M477M
Other Non-Current Assets1.63B1.35B1.23B1.25B1.49B1.42B1.47B1.32B-11.04B
Total Assets
17.45B▲ 0%
16.13B▼ 7.5%
14.63B▼ 9.3%
14.86B▲ 1.6%
15.03B▲ 1.1%
14.76B▼ 1.8%
14.15B▼ 4.1%
14.06B▼ 0.6%
16.21B▲ 15.3%
Asset Turnover0.68x0.84x0.72x0.63x0.83x0.86x0.76x0.87x0.79x
Asset Growth %4.22%-7.54%-9.3%1.57%1.11%-1.79%-4.07%-0.64%15.27%
Total Current Liabilities3.25B2.92B2.56B2.76B3.22B3B3.03B3.4B3.77B
Accounts Payable1.9B1.66B1.48B1.4B1.67B1.76B1.71B1.8B1.94B
Days Payables Outstanding70.9856.0858.2959.562.2559.2259.7861.6564.27
Short-Term Debt16M1M1M79M76M1M135M125M1M
Deferred Revenue (Current)000000000
Other Current Liabilities1.06B829M974M1.19B1.1B1.02B1.09B1.36B1.83B
Current Ratio1.30x1.48x1.38x1.64x1.56x1.75x1.45x1.45x1.45x
Quick Ratio0.86x0.86x0.74x1.13x0.95x0.94x0.74x0.86x0.87x
Cash Conversion Cycle15.6832.3529.2421.4436.4348.5843.0343.7144.26
Total Non-Current Liabilities7.4B5.63B6.18B7.08B5.52B5.16B5.28B5.51B6.24B
Long-Term Debt1.39B1.8B1.8B2.46B1.73B1.81B1.73B2.47B0
Capital Lease Obligations00100M82M64M59M104M223M0
Deferred Tax Liabilities000000000
Other Non-Current Liabilities5.94B3.76B4.23B4.49B3.69B3.27B3.42B2.81B6.24B
Total Liabilities10.65B8.54B8.74B9.84B8.74B8.17B8.31B8.91B10B
Total Debt1.4B1.8B1.9B2.62B1.87B1.87B1.97B2.82B1M
Net Debt46M689M1.02B1.02B52M503M1.03B1.68B-1.6B
Debt / Equity0.21x0.24x0.32x0.52x0.30x0.28x0.34x0.55x0.00x
Debt / EBITDA0.57x0.57x1.18x2.21x0.62x0.81x3.24x1.56x0.00x
Net Debt / EBITDA0.02x0.22x0.63x0.86x0.02x0.22x1.69x0.93x-1.00x
Interest Coverage16.42x19.80x7.40x3.64x12.12x16.01x-0.22x7.47x6.15x
Total Equity
6.8B▲ 0%
7.59B▲ 11.6%
5.89B▼ 22.4%
5.02B▼ 14.8%
6.28B▲ 25.3%
6.59B▲ 4.9%
5.84B▼ 11.3%
5.16B▼ 11.8%
6.21B▲ 20.4%
Equity Growth %-11.68%11.62%-22.43%-14.78%25.28%4.85%-11.29%-11.77%20.4%
Book Value per Share36.3640.2531.8226.9733.0736.4032.8424.0923.58
Total Shareholders' Equity4.52B5.62B4.11B3.31B4.67B5.08B4.25B5.16B6.13B
Common Stock2M2M2M2M2M2M2M3M3M
Retained Earnings113M570M-555M-725M-315M-570M-1.29B-1.32B-258M
Treasury Stock000000000
Accumulated OCI-5.18B-4.57B-4.97B-5.63B-4.59B-3.54B-3.65B-5.11B-5.19B
Minority Interest2.27B1.97B1.77B1.71B1.61B1.51B1.59B076M

AA Cash Flow Statement

Alcoa Corporation (AA) cash flow — operating, investing & free cash flow history

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Cash from Operations1.22B448M686M394M920M822M91M622M1.19B
Operating CF Margin %10.39%3.31%6.54%4.2%7.4%6.44%0.85%5.11%9.3%
Operating CF Growth %493.57%-63.4%53.13%-42.57%133.5%-10.65%-88.93%583.52%90.51%
Net Income608M893M-853M-14M570M38M-773M24M1.13B
Depreciation & Amortization752M733M713M653M664M617M632M642M623M
Stock-Based Compensation24M35M30M25M39M40M35M36M41M
Deferred Taxes168M-30M15M-26M147M219M-22M23M-269M
Other Non-Cash Items239M-361M1.05B-220M172M756M489M396M-409M
Working Capital Changes-567M-822M-265M-24M-672M-848M-270M-499M67M
Change in Receivables-118M-43M283M16M-414M-59M104M-493M71M
Change in Inventory-238M-278M137M122M-639M-547M243M51M-57M
Change in Payables377M-165M-153M25M354M189M-74M190M63M
Cash from Investing-226M-405M-468M-167M565M-495M-585M-608M-502M
Capital Expenditures-405M-399M-379M-353M-390M-480M-531M-580M-618M
CapEx % of Revenue3.44%2.95%3.61%3.77%3.14%3.76%4.96%4.76%4.85%
Acquisitions000000000
Investments---------
Other Investing245M1M23M198M966M7M16M9M-45M
Cash from Financing-506M-288M-444M514M-1.16B-768M57M201M-261M
Debt Issued (Net)-32M425M-7M738M-799M3M55M353M-164M
Equity Issued (Net)0-1000K00-1000K-1000K0-1000K0
Dividends Paid0000-19M-72M-72M-90M-105M
Share Repurchases0-50M00-150M-500M0-15M0
Other Financing-474M-663M-437M-224M-190M-199M74M-47M8M
Net Change in Cash
505M▲ 0%
-249M▼ 149.3%
-233M▲ 6.4%
727M▲ 412.0%
314M▼ 56.8%
-450M▼ 243.3%
-427M▲ 5.1%
187M▲ 143.8%
458M▲ 144.9%
Free Cash Flow
819M▲ 0%
49M▼ 94.0%
307M▲ 526.5%
41M▼ 86.6%
530M▲ 1192.7%
342M▼ 35.5%
-440M▼ 228.7%
42M▲ 109.5%
567M▲ 1250.0%
FCF Margin %6.95%0.36%2.93%0.44%4.26%2.68%-4.11%0.34%4.45%
FCF Growth %214.55%-94.02%526.53%-86.65%1192.68%-35.47%-228.66%109.55%1250%
FCF per Share4.380.261.660.222.791.89-2.470.202.15
FCF Conversion (FCF/Net Income)5.64x1.79x-0.61x-2.32x2.14x-6.68x-0.14x10.37x1.03x
Interest Paid100M111M0000000
Taxes Paid363M507M0000000

AA Key Ratios

Alcoa Corporation (AA) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric2016201720182019202020212022202320242025
Return on Equity (ROE)-4.16%2.99%3.48%-16.7%-3.12%7.59%-1.91%-10.47%1.09%20.2%
Return on Invested Capital (ROIC)2.97%16.93%23.96%8.84%6.17%28.67%18.96%-0.26%12.76%12.72%
Gross Margin7.6%17.15%19.93%11.45%8.16%21.08%15.15%2.25%12.29%13.58%
Net Margin-4.29%1.84%1.85%-10.72%-1.81%3.45%-0.96%-6.08%0.49%9.01%
Debt / Equity0.19x0.21x0.24x0.32x0.52x0.30x0.28x0.34x0.55x0.00x
Interest Coverage1.58x16.42x19.80x7.40x3.64x12.12x16.01x-0.22x7.47x6.15x
FCF Conversion0.78x5.64x1.79x-0.61x-2.32x2.14x-6.68x-0.14x10.37x1.03x
Revenue Growth-16.89%26.33%14.75%-22.36%-10.7%32.7%2.61%-16.11%13.81%4.53%

AA SEC Filings & Documents

Alcoa Corporation (AA) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Apr 16, 2026·SEC

Material company update

Apr 14, 2026·SEC

Material company update

Jan 22, 2026·SEC

10-K Annual Reports

3
FY 2026

Feb 26, 2026·SEC

FY 2025

Feb 20, 2025·SEC

FY 2024

Feb 21, 2024·SEC

10-Q Quarterly Reports

6
FY 2025

Oct 28, 2025·SEC

FY 2025

Jul 31, 2025·SEC

FY 2025

May 1, 2025·SEC

AA Frequently Asked Questions

Alcoa Corporation (AA) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Alcoa Corporation (AA) reported $12.74B in revenue for fiscal year 2025. This represents a 47% decrease from $23.95B in 2014.

Alcoa Corporation (AA) grew revenue by 4.5% over the past year. Growth has been modest.

Yes, Alcoa Corporation (AA) is profitable, generating $1.15B in net income for fiscal year 2025 (9.0% net margin).

Dividend & Returns

Yes, Alcoa Corporation (AA) pays a dividend with a yield of 0.63%. This makes it attractive for income-focused investors.

Alcoa Corporation (AA) has a return on equity (ROE) of 20.2%. This is excellent, indicating efficient use of shareholder capital.

Alcoa Corporation (AA) generated $567.0M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

Explore More AA

Alcoa Corporation (AA) financial analysis — history, returns, DCA and operating performance tools

Full AA Stock Analysis

Analyst verdict, bull/bear case, risk factors and peer comparison

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Historical returns with dividends reinvested

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DCA Calculator

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

EPS trends, net income & profitability

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Price History

Long-term charts & historical price data

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Revenue History

Sales growth patterns & revenue breakdown

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Financial Ratios

30 years of market, efficiency and balance-sheet ratios

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Valuation

DCF intrinsic value, peer multiples & estimates

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