Alcoa is emerging from a cyclical trough with a sharp operational turnaround, evidenced by a 31.4% YoY revenue surge to $4.0B and gross margin expansion to 25.2% in 2026Q2. The company has aggressively deleveraged, cutting total debt from $5.2B in 2025Q3 to $2.2B, reducing D/E to 0.30, while rebuilding equity to $7.4B.
Price trend, volume and key moving averages
Start with the evidence for owning the stock and the risks that can break the thesis.
Revenue rebounded 31.4% YoY to $4.0B in 2026Q2, with gross margin expanding to 25.2% and operating income jumping 68.5% QoQ to $718M, though net income of $407M trails operating income due to non-operating charges.
Alcoa's Sustana brand offers the industry’s most extensive portfolio of low-carbon products, positioning it well for sustainability-driven demand.
Bullish alumina and aluminum price scenarios for 2026, based on historical cycles and Alcoa's sensitivities, suggest potential revenue growth.
Rapid commercialization of new tech and strong green premiums could drive revenue CAGR towards +6%, supporting a bullish outlook.
Trailing total returns as of 11/8/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).
Check whether operating performance supports the current valuation.
Recent results and news deserve attention only when they alter the forward view.
| Quarter | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|
Q4 2026Latest Oct 15, 2026 | $1.82+20.5% vs $1.51 | $3.7B-1.7% vs $3.8B |
Q3 2026 Jul 16, 2026 | $2.12-5.8% vs $2.25 | $4.0B-0.6% vs $4.0B |
Q2 2026 Apr 16, 2026 | $1.40-8.5% vs $1.53 | $3.2B-2.6% vs $3.3B |
Q1 2026 Jan 22, 2026 | $1.26+36.1% vs $0.93 | $3.4B+5.3% vs $3.3B |
D.A. Davidson and CO. lowered its holdings in shares of Alcoa (NYSE: AA) by 26.9% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 39,206 shares of the industrial products company's stock after selling 14,463 shares during the period. D.A. Davidson and CO.'s holdings
Investors need to pay close attention to AA stock based on the movements in the options market lately.
Wall Street analysts are reshuffling their bets on Tesla, Netflix, and Dutch Bros while SpaceX's blowout earnings send futures sliding ahead of the open. Find out which names got upgraded, downgraded, or initiated before the market moves on Thursday.
Alcoa Corporation (AA) is rated Hold with a $49/share price target, reflecting robust Q3'26 results and strong aluminum pricing. Price normalization may weigh on the share price. AA's acquisition of AliGroup for $4.1B is expected to generate $900M in synergies, enhancing its integrated global platform. Strong cash flow, asset monetization ($500M–$1B targeted), and disciplined debt reduction position AA for operational flexibility post-acquisition.
Benchmark AA against direct peers instead of judging its metrics in isolation.
Key metrics vs top competitors for Alcoa Corporation (AA)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $39.54 | $10.43B | 6.88 | 5.31% | 10.68% | 21.25% | 1% | |
| $33.47 | $3.31B | 3.95 | 13.85% | 29.74% | 63.59% | — | |
| $106.84 | $1.75B | 8.26 | 11.54% | 4.85% | 24.13% | 2.89% | |
| $21.81 | $2.96B | 5.28 | 19.28% | 5.71% | 48.88% | — | |
| $120.91 | $127.4B | 13.75 | 22.16% | 35.05% | 26.32% | 0.83% | |
| $59.42 | $85.42B | 24.87 | 1.12% | 13.03% | 10.76% | 1.01% |
Alcoa Corporation (AA) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Verify the primary filings, follow material updates, and answer the remaining questions.
Alcoa Corporation (AA) SEC filings — annual & quarterly reports (10-K, 10-Q)
Oct 15, 2026·SEC
Sep 23, 2026·SEC
Jul 16, 2026·SEC
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Alcoa Corporation (AA) stock FAQ — growth, dividends, profitability & financials explained
Alcoa Corporation (AA) reported $14.31B in revenue over the trailing twelve months. Revenue was $12.83B in fiscal year 2025. That is 46% less than the $23.95B of fiscal year 2014.
Alcoa Corporation (AA) grew revenue by 7.1% over the trailing twelve months, compared with the twelve months before.
Yes. Alcoa Corporation (AA) earned $1.53B in net income over the trailing twelve months (a 10.7% net margin).
Yes. Alcoa Corporation (AA) pays a dividend that yields 1.00% at the current price, a small yield.
Alcoa Corporation (AA) had a return on equity (ROE) of 21.2% over the trailing twelve months. That is well above the market's typical 10-15%.
Alcoa Corporation (AA) generated $758.0M in free cash flow over the trailing twelve months.
