Century Aluminum Company (CENX) 10-Year Financial Performance & Capital Metrics

CENX • • Industrial / General

Basic MaterialsAluminumPrimary Aluminum ProductionPure-Play Smelters

AboutCentury Aluminum Company, together with its subsidiaries, produces standard-grade and value-added primary aluminum products in the United States and Iceland. It also owns and operates a carbon anode production facility in the Netherlands. The company was incorporated in 1981 and is headquartered in Chicago, Illinois.Show more

Revenue $2.22B +1.6%
EBITDA $203M +90.8%
Net Income $337M +881.4%
EPS (Diluted) 3.29 +800.0%
Gross Margin 8.33% +98.1%
EBITDA Margin 9.15% +87.8%
Operating Margin 5.47% +275.8%
Net Margin 15.17% +869.1%
ROE 66.91% +677.0%
ROIC 9.7% +229.8%
Debt/Equity 0.78 -43.1%
Interest Coverage 2.82 +214.4%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Momentum leader: RS Rating 95 (top 5%)
✓Good 3Y average ROE of 17.3%
✓Trading near 52-week high
✓Efficient asset utilization: 1.1x turnover

✗Weaknesses

✗Negative free cash flow

Price & Volume

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Growth Metrics

Revenue CAGR

10Y1.41%

5Y3.87%

3Y0.12%

TTM20.15%

Profit (Net Income) CAGR

10Y11.59%

5Y-

3Y-

TTM-73.51%

EPS CAGR

10Y11.08%

5Y-

3Y-

TTM-72.61%

ROCE

10Y Avg-2.4%

5Y Avg-0.51%

3Y Avg-0.65%

Latest9.49%

Peer Comparison

Pure-Play Smelters

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
CENXCentury Aluminum Company	4.53B	48.49	14.74	1.6%	3.37%	12.22%		0.78

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	1.95B	1.32B	1.59B	1.89B	1.84B	1.61B	2.21B	2.78B	2.19B	2.22B
Revenue Growth %	0.01%	-0.32%	0.2%	0.19%	-0.03%	-0.13%	0.38%	0.26%	-0.21%	0.02%
Cost of Goods Sold+	1.91B	1.33B	1.46B	1.92B	1.86B	1.64B	2.09B	2.73B	2.09B	2.04B
COGS % of Revenue	0.98%	1.01%	0.92%	1.01%	1.01%	1.02%	0.94%	0.98%	0.96%	0.92%
Gross Profit+	41.31M	-11.04M	128.6M	-22.9M	-23.9M	-36.5M	124.2M	46.7M	91.9M	185M
Gross Margin %	0.02%	-0.01%	0.08%	-0.01%	-0.01%	-0.02%	0.06%	0.02%	0.04%	0.08%
Gross Profit Growth %	-0.8%	-1.27%	12.65%	-1.18%	-0.04%	-0.53%	4.4%	-0.62%	0.97%	1.01%
Operating Expenses+	49.55M	44.12M	47.56M	40.6M	48.2M	44M	58.2M	196.9M	60.1M	63.6M
OpEx % of Revenue	0.03%	0.03%	0.03%	0.02%	0.03%	0.03%	0.03%	0.07%	0.03%	0.03%
Selling, General & Admin	42.12M	40.26M	45.45M	40.2M	47.4M	43.5M	57.6M	37.5M	44.3M	56.8M
SG&A % of Revenue	0.02%	0.03%	0.03%	0.02%	0.03%	0.03%	0.03%	0.01%	0.02%	0.03%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	-356K	1.32M	-1.16M	400K	800K	500K	600K	159.4M	15.8M	6.8M
Operating Income+	-39.09M	-234.21M	93.86M	-59M	-72.4M	-80.5M	66M	-150.2M	31.8M	121.4M
Operating Margin %	-0.02%	-0.18%	0.06%	-0.03%	-0.04%	-0.05%	0.03%	-0.05%	0.01%	0.05%
Operating Income Growth %	-1.28%	-4.99%	1.4%	-1.63%	-0.23%	-0.11%	1.82%	-3.28%	1.21%	2.82%
EBITDA+	41.03M	-149.43M	178.06M	31.1M	10.8M	2.5M	148.6M	-76.8M	106.5M	203.2M
EBITDA Margin %	0.02%	-0.11%	0.11%	0.02%	0.01%	0%	0.07%	-0.03%	0.05%	0.09%
EBITDA Growth %	-0.81%	-4.64%	2.19%	-0.83%	-0.65%	-0.77%	58.44%	-1.52%	2.39%	0.91%
D&A (Non-Cash Add-back)	80.12M	84.78M	84.2M	90.1M	83.2M	83M	82.6M	73.4M	74.7M	81.8M
EBIT	-19.17M	-228.7M	84.4M	-48.2M	-60.4M	-94.7M	-167.2M	62.7M	-31.3M	366.9M
Net Interest Income+	-21.61M	-21.4M	-20.8M	-20.9M	-24.3M	-30.8M	-29.6M	-28.8M	-33.5M	-41M
Interest Income	339K	758K	1.4M	1.5M	800K	800K	800K	500K	2M	2.1M
Interest Expense	21.95M	22.22M	22.17M	22.4M	25.1M	31.6M	30.4M	29.3M	35.5M	43.1M
Other Income/Expense	-2.03M	-22.96M	-41.8M	-11.6M	-13.4M	-45.9M	-263.7M	183.5M	-98.7M	202.5M
Pretax Income+	-41.12M	-250.87M	55.37M	-70.6M	-85.5M	-126.4M	-197.7M	33.3M	-66.9M	323.9M
Pretax Margin %	-0.02%	-0.19%	0.03%	-0.04%	-0.05%	-0.08%	-0.09%	0.01%	-0.03%	0.15%
Income Tax+	9.28M	2.82M	7.58M	-200K	-8.4M	-3.1M	-30.6M	47.4M	-14.6M	3.2M
Effective Tax Rate %	1.16%	1.01%	0.88%	0.94%	0.95%	0.98%	0.85%	-0.42%	0.64%	1.04%
Net Income+	-47.73M	-252.41M	48.58M	-66.2M	-80.8M	-123.3M	-167.1M	-14.1M	-43.1M	336.8M
Net Margin %	-0.02%	-0.19%	0.03%	-0.03%	-0.04%	-0.08%	-0.08%	-0.01%	-0.02%	0.15%
Net Income Growth %	-1.42%	-4.29%	1.19%	-2.36%	-0.22%	-0.53%	-0.36%	0.92%	-2.06%	8.81%
Net Income (Continuing)	-50.4M	-252.4M	48.6M	-66.2M	-77.1M	-123.3M	-167.1M	-14.1M	-52.3M	320.7M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	-11.5M	-31.7M
EPS (Diluted)+	-0.55	-2.90	0.51	-0.76	-0.87	-1.38	-1.85	-0.15	-0.47	3.29
EPS Growth %	-1.48%	-4.27%	1.18%	-2.49%	-0.14%	-0.59%	-0.34%	0.92%	-2.13%	8%
EPS (Basic)	-0.55	-2.90	0.51	-0.76	-0.87	-1.38	-1.85	-0.15	-0.47	3.46
Diluted Shares Outstanding	87.38M	87.06M	88.02M	87.6M	88.8M	89.5M	90.2M	91.4M	92.4M	98.4M
Basic Shares Outstanding	87.22M	87.03M	87.3M	87.6M	88.8M	89.5M	90.2M	91.4M	92.4M	92.8M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	448.06M	440.62M	553.67M	506.7M	487.3M	456M	618.2M	677.8M	767.1M	802.8M
Cash & Short-Term Investments	115.39M	132.4M	167.21M	38.9M	38.9M	81.6M	29M	54.3M	88.8M	32.9M
Cash Only	115.39M	132.4M	167.21M	38.9M	38.9M	81.6M	29M	54.3M	88.8M	32.9M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	26.89M	29.08M	53.5M	105.2M	100.2M	61.3M	88.9M	71.7M	169.4M	195.6M
Days Sales Outstanding	5.03	8.05	12.29	20.28	19.91	13.94	14.67	9.42	28.29	32.16
Inventory	231.87M	233.56M	317.47M	343.8M	320.6M	291.1M	425.6M	398.8M	477M	539M
Days Inventory Outstanding	44.34	64.09	79.34	65.49	62.9	64.72	74.39	53.31	83.16	96.66
Other Current Assets	31.49M	23.36M	800K	4.9M	15.4M	9.1M	46.5M	153M	31.9M	35.3M
Total Non-Current Assets+	1.3B	1.1B	1.03B	1.03B	1.01B	943.6M	951.7M	794.2M	1.08B	1.14B
Property, Plant & Equipment	1.23B	1.03B	971.92M	967.3M	949.2M	880.4M	892.5M	744.4M	1B	978.3M
Fixed Asset Turnover	1.58x	1.29x	1.63x	1.96x	1.93x	1.82x	2.48x	3.73x	2.18x	2.27x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	0	0	0	0
Long-Term Investments	0	0	0	0	0	0	0	0	0	0
Other Non-Current Assets	72.16M	73.42M	56.05M	63.5M	63.2M	63.2M	59.2M	49.8M	75.2M	158.3M
Total Assets+	1.75B	1.54B	1.58B	1.54B	1.5B	1.4B	1.57B	1.47B	1.85B	1.94B
Asset Turnover	1.11x	0.86x	1.00x	1.23x	1.22x	1.15x	1.41x	1.89x	1.18x	1.14x
Asset Growth %	-0.13%	-0.12%	0.03%	-0.03%	-0.02%	-0.07%	0.12%	-0.06%	0.25%	0.05%
Total Current Liabilities+	167.32M	179.16M	190.52M	224.3M	233.7M	240.3M	547.4M	410.7M	763M	463.7M
Accounts Payable	90.49M	94.96M	102.1M	119.4M	97.1M	106.1M	186.5M	167.3M	249.5M	187.3M
Days Payables Outstanding	17.31	26.06	25.52	22.74	19.05	23.59	32.6	22.36	43.5	33.59
Short-Term Debt	7.82M	7.82M	7.8M	31.1M	11.8M	27.8M	121.4M	146.1M	42.8M	61.8M
Deferred Revenue (Current)	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	10.04M	15.37M	20.4M	-23.3M	30.4M	15.2M	111M	42.7M	318.4M	63.3M
Current Ratio	2.68x	2.46x	2.91x	2.26x	2.09x	1.90x	1.13x	1.65x	1.01x	1.73x
Quick Ratio	1.29x	1.16x	1.24x	0.73x	0.71x	0.69x	0.35x	0.68x	0.38x	0.57x
Cash Conversion Cycle	32.07	46.08	66.11	63.03	63.76	55.07	56.46	40.37	67.96	95.23
Total Non-Current Liabilities+	567.28M	604.51M	561.48M	551M	591M	613.2M	601.5M	662M	739.4M	813M
Long-Term Debt	247.28M	247.7M	248.2M	248.6M	269.2M	288.1M	329.8M	381.6M	430.9M	457.4M
Capital Lease Obligations	0	0	0	0	22.8M	24.3M	22.9M	20.9M	0	0
Deferred Tax Liabilities	96.99M	108.94M	103.48M	104.3M	95.1M	89.2M	58.7M	103.1M	72.4M	71.2M
Other Non-Current Liabilities	329.06M	247.87M	313.3M	198.1M	203.9M	211.6M	190.1M	156.4M	236.1M	284.4M
Total Liabilities	734.6M	783.67M	752M	775.3M	824.7M	853.5M	1.15B	1.07B	1.5B	1.28B
Total Debt+	255.09M	255.51M	255.97M	279.7M	303.8M	340.2M	474.1M	548.6M	473.7M	519.2M
Net Debt	139.7M	123.11M	88.76M	240.8M	264.9M	258.6M	445.1M	494.3M	384.9M	486.3M
Debt / Equity	0.25x	0.34x	0.31x	0.37x	0.45x	0.62x	1.13x	1.37x	1.38x	0.78x
Debt / EBITDA	6.22x	-	1.44x	8.99x	28.13x	136.08x	3.19x	-	4.45x	2.56x
Net Debt / EBITDA	3.40x	-	0.50x	7.74x	24.53x	103.44x	3.00x	-	3.61x	2.39x
Interest Coverage	-1.78x	-10.54x	4.23x	-2.63x	-2.88x	-2.55x	2.17x	-5.13x	0.90x	2.82x
Total Equity+	1.02B	756.65M	829.64M	762.2M	675M	546.1M	421M	399.3M	344.1M	662.7M
Equity Growth %	-0.07%	-0.26%	0.1%	-0.08%	-0.11%	-0.19%	-0.23%	-0.05%	-0.14%	0.93%
Book Value per Share	11.65	8.69	9.43	8.70	7.60	6.10	4.67	4.37	3.72	6.73
Total Shareholders' Equity	1.02B	756.65M	829.64M	762.2M	675M	546.1M	421M	399.3M	355.6M	694.4M
Common Stock	942K	944K	947K	1M	1M	1M	1M	1M	1M	1M
Retained Earnings	-1.3B	-1.56B	-1.51B	-1.58B	-1.66B	-1.78B	-1.95B	-1.96B	-2B	-1.67B
Treasury Stock	-86.28M	-86.28M	-86.3M	-86.3M	-86.3M	-86.3M	-86.3M	-86.3M	-86.3M	-86.3M
Accumulated OCI	-112.65M	-113.89M	-91.74M	-98.7M	-109.8M	-118.8M	-82.3M	-94M	-97.9M	-103.3M
Minority Interest	0	0	0	0	0	0	0	0	-11.5M	-31.7M

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	31.87M	38.17M	37.91M	-69.1M	17.7M	42.9M	-64.7M	25.9M	105.6M	-24.6M
Operating CF Margin %	0.02%	0.03%	0.02%	-0.04%	0.01%	0.03%	-0.03%	0.01%	0.05%	-0.01%
Operating CF Growth %	-0.84%	0.2%	-0.01%	-2.82%	1.26%	1.42%	-2.51%	1.4%	3.08%	-1.23%
Net Income	-59.31M	-252.41M	-252.41M	-66.2M	-80.8M	-123.3M	-167.1M	-14.1M	-52.3M	320.7M
Depreciation & Amortization	80.12M	84.78M	84.78M	90.1M	83.2M	83M	82.6M	73.4M	74.7M	81.8M
Stock-Based Compensation	1.84M	1.5M	1.5M	3.7M	6.5M	0	20.8M	-600K	0	0
Deferred Taxes	-178K	-893K	-893K	0	-6.5M	0	-30.6M	44.2M	-30.8M	-1.3M
Other Non-Cash Items	24.43M	156.47M	156.84M	10.3M	3.8M	58.8M	105.1M	-38M	84M	-254.1M
Working Capital Changes	-15.04M	48.72M	48.1M	-103.3M	11.5M	24.4M	-75.5M	-39M	30M	-171.7M
Change in Receivables	68.19M	-2.96M	-2.96M	-39.4M	12.4M	39.9M	-16.2M	13.7M	-33.8M	-29.5M
Change in Inventory	44.9M	919K	919K	-62.8M	4.4M	-15.5M	-134.5M	-12.8M	25.8M	2.3M
Change in Payables	-60.58M	2.27M	2.27M	30.5M	-25.2M	20.6M	44.8M	-15.8M	-19.4M	-20.3M
Cash from Investing+	-43.36M	-21.16M	-20.9M	-82.9M	-38.8M	-11.8M	-82.6M	-85.5M	-57.8M	-67.3M
Capital Expenditures	-54.7M	-21.94M	-21.94M	-83M	-59.6M	-13.4M	-83M	-86.3M	-95M	-82.3M
CapEx % of Revenue	0.03%	0.02%	0.01%	0.04%	0.03%	0.01%	0.04%	0.03%	0.04%	0.04%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	24K	781K	1.04M	100K	20.8M	1.6M	0	0	25.7M	0
Cash from Financing+	-36.35M	-1.18M	404K	23.7M	21.1M	13.5M	103.7M	74.4M	-13M	37.3M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	0	1.18M	0	0	0	-1.3M	-31.2M	-1.5M	36.8M	-10M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-22.83M	16.23M	15.97M	-152.1M	-41.9M	29.5M	-147.7M	-60.4M	10.6M	-106.9M
FCF Margin %	-0.01%	0.01%	0.01%	-0.08%	-0.02%	0.02%	-0.07%	-0.02%	0%	-0.05%
FCF Growth %	-1.16%	1.71%	-0.02%	-10.52%	0.72%	1.7%	-6.01%	0.59%	1.18%	-11.08%
FCF per Share	-0.26	0.19	0.18	-1.74	-0.47	0.33	-1.64	-0.66	0.11	-1.09
FCF Conversion (FCF/Net Income)	-0.67x	-0.15x	0.78x	1.04x	-0.22x	-0.35x	0.39x	-1.84x	-2.45x	-0.07x
Interest Paid	18.78M	19.5M	19.5M	19.7M	21.8M	14.5M	36.8M	27M	35.2M	36M
Taxes Paid	24.13M	13.9M	5.6M	13.1M	500K	200K	3.1M	900K	5.9M	14.5M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-4.53%	-28.45%	6.13%	-8.32%	-11.24%	-20.19%	-34.56%	-3.44%	-11.6%	66.91%
Return on Invested Capital (ROIC)	-2.51%	-17.24%	7.83%	-4.61%	-5.59%	-6.92%	5.93%	-12.8%	2.94%	9.7%
Gross Margin	2.12%	-0.84%	8.09%	-1.21%	-1.3%	-2.27%	5.61%	1.68%	4.21%	8.33%
Net Margin	-2.45%	-19.14%	3.06%	-3.5%	-4.4%	-7.68%	-7.55%	-0.51%	-1.97%	15.17%
Debt / Equity	0.25x	0.34x	0.31x	0.37x	0.45x	0.62x	1.13x	1.37x	1.38x	0.78x
Interest Coverage	-1.78x	-10.54x	4.23x	-2.63x	-2.88x	-2.55x	2.17x	-5.13x	0.90x	2.82x
FCF Conversion	-0.67x	-0.15x	0.78x	1.04x	-0.22x	-0.35x	0.39x	-1.84x	-2.45x	-0.07x
Revenue Growth	0.97%	-32.35%	20.47%	19.14%	-2.99%	-12.6%	37.84%	25.53%	-21.31%	1.6%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Aluminum	-	-	-	-	-	-	-	-	-	1.88B
Aluminum Growth	-	-	-	-	-	-	-	-	-	-
Alumina	-	-	-	-	-	-	18.3M	-	-	338.2M
Alumina Growth	-	-	-	-	-	-	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
UNITED STATES	1.37B	808.91M	938.33M	1.14B	1.18B	1.01B	1.41B	1.74B	1.36B	1.43B
UNITED STATES Growth	-	-41.11%	16.00%	21.34%	3.60%	-14.59%	40.25%	22.94%	-21.79%	5.03%
ICELAND	-	-	650.75M	754.6M	657M	597.6M	799.5M	1.04B	826.8M	793.3M
ICELAND Growth	-	-	-	15.96%	-12.93%	-9.04%	33.79%	30.09%	-20.51%	-4.05%

Frequently Asked Questions

Valuation & Price

Century Aluminum Company (CENX) has a price-to-earnings (P/E) ratio of 14.7x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Century Aluminum Company (CENX) reported $2.53B in revenue for fiscal year 2024. This represents a 86% increase from $1.36B in 2011.

Century Aluminum Company (CENX) grew revenue by 1.6% over the past year. Growth has been modest.

Yes, Century Aluminum Company (CENX) is profitable, generating $85.2M in net income for fiscal year 2024 (15.2% net margin).

Dividend & Returns

Century Aluminum Company (CENX) has a return on equity (ROE) of 66.9%. This is excellent, indicating efficient use of shareholder capital.

Century Aluminum Company (CENX) had negative free cash flow of $37.5M in fiscal year 2024, likely due to heavy capital investments.

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