Alcoa Corporation (AA) Financial Ratios
12 years of historical data (2014–2025) · Basic Materials · Aluminum
EV/EBITDA
↑
9.27
↑+43% vs avg
5yr avg: 6.47
30Y Low1.8·High11.6
P/FCF
↑
28.89
↓-56% vs avg
5yr avg: 65.66
30Y Low8.4·High192.5
P/B Ratio
↑
2.68
↑+70% vs avg
5yr avg: 1.58
30Y Low0.4·High2.3
ROE
↑
20.2%
↓+512% vs avg
5yr avg: 3.3%
30Y Low-17%·High20%
Debt/EBITDA
↓
0.00
↓-100% vs avg
5yr avg: 1.24
30Y Low0.0·High3.2
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
AA Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Alcoa Corporation trades at 14.2x earnings, 75% below its 5-year average of 57.8x, sitting at the 20th percentile of its historical range. Compared to the Basic Materials sector median P/E of 22.9x, the stock trades at a discount of 38%. On a free-cash-flow basis, the stock trades at 28.9x P/FCF, 56% below the 5-year average of 65.7x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $16.4B | $14.0B | $8.1B | $6.1B | $8.2B | $11.3B | $4.3B | $4.0B | $5.0B | $10.1B | $5.1B |
| Enterprise Value | $14.8B | $12.4B | $9.8B | $7.1B | $8.7B | $11.4B | $5.3B | $5.0B | $5.7B | $10.1B | $5.7B |
| P/E Ratio → | 14.25 | 11.97 | 134.93 | — | — | 26.36 | — | — | 22.15 | 46.44 | — |
| P/S Ratio | 1.29 | 1.10 | 0.66 | 0.57 | 0.64 | 0.91 | 0.46 | 0.38 | 0.37 | 0.86 | 0.55 |
| P/B Ratio | 2.68 | 2.25 | 1.57 | 1.04 | 1.25 | 1.80 | 0.85 | 0.68 | 0.66 | 1.48 | 0.67 |
| P/FCF | 28.89 | 24.68 | 192.54 | — | 24.06 | 21.36 | 104.57 | 12.96 | 102.27 | 12.30 | — |
| P/OCF | 13.82 | 11.81 | 13.00 | 66.51 | 10.01 | 12.30 | 10.88 | 5.80 | 11.19 | 8.23 | — |
P/E links to full P/E history page with 30-year chart
AA EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Alcoa Corporation's enterprise value stands at 9.3x EBITDA, 43% above its 5-year average of 6.5x. The Basic Materials sector median is 11.4x, placing the stock at a 19% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.97 | 0.80 | 0.66 | 0.68 | 0.91 | 0.57 | 0.48 | 0.42 | 0.86 | 0.61 |
| EV / EBITDA | 9.27 | 7.78 | 5.40 | 11.64 | 3.77 | 3.76 | 4.48 | 3.11 | 1.81 | 4.11 | 5.18 |
| EV / EBIT | 15.22 | 9.99 | 21.95 | — | 10.81 | 8.16 | 16.63 | — | 3.26 | 8.01 | 70.59 |
| EV / FCF | — | 21.86 | 232.54 | — | 25.54 | 21.46 | 129.37 | 16.29 | 116.33 | 12.35 | — |
AA Profitability
Margins and return-on-capital ratios measuring operating efficiency
Alcoa Corporation earns an operating margin of 7.6%, below the Basic Materials sector average of 9.8%. Operating margins have expanded from -0.2% to 7.6% over the past 3 years, signaling improving operational efficiency. ROE of 20.2% indicates solid capital efficiency. ROIC of 12.7% represents solid returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 13.6% | 13.6% | 12.3% | 2.3% | 15.1% | 21.1% | 8.2% | 11.5% | 19.9% | 17.1% | 7.6% |
| Operating Margin | 7.6% | 7.6% | 9.6% | -0.2% | 13.3% | 19.0% | 5.7% | 8.5% | 17.9% | 14.5% | 4.1% |
| Net Profit Margin | 9.0% | 9.0% | 0.5% | -6.1% | -1.0% | 3.4% | -1.8% | -10.7% | 1.8% | 1.8% | -4.3% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 20.2% | 20.2% | 1.1% | -10.5% | -1.9% | 7.6% | -3.1% | -16.7% | 3.5% | 3.0% | -4.2% |
| ROA | 7.6% | 7.6% | 0.4% | -4.5% | -0.8% | 2.9% | -1.2% | -7.3% | 1.5% | 1.3% | -2.4% |
| ROIC | 12.7% | 12.7% | 12.8% | -0.3% | 19.0% | 28.7% | 6.2% | 8.8% | 24.0% | 16.9% | 3.0% |
| ROCE | 8.4% | 8.4% | 10.7% | -0.2% | 14.4% | 19.8% | 4.4% | 7.1% | 17.6% | 12.2% | 2.8% |
AA Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Alcoa Corporation carries a Debt/EBITDA ratio of 0.0x, which is very conservative (100% below the sector average of 2.6x). The company holds a net cash position — cash of $1.6B exceeds total debt of $1M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns. Interest coverage of 6.1x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.00 | 0.00 | 0.55 | 0.34 | 0.28 | 0.30 | 0.52 | 0.32 | 0.24 | 0.21 | 0.19 |
| Debt / EBITDA | 0.00 | 0.00 | 1.56 | 3.24 | 0.81 | 0.62 | 2.21 | 1.18 | 0.57 | 0.57 | 1.31 |
| Net Debt / Equity | — | -0.26 | 0.33 | 0.18 | 0.08 | 0.01 | 0.20 | 0.17 | 0.09 | 0.01 | 0.08 |
| Net Debt / EBITDA | -1.00 | -1.00 | 0.93 | 1.69 | 0.22 | 0.02 | 0.86 | 0.63 | 0.22 | 0.02 | 0.54 |
| Debt / FCF | — | -2.81 | 40.00 | — | 1.47 | 0.10 | 24.80 | 3.33 | 14.06 | 0.06 | — |
| Interest Coverage | 6.15 | 6.15 | 7.47 | -0.22 | 16.01 | 12.12 | 3.64 | 7.40 | 19.80 | 16.42 | 1.58 |
Net cash position: cash ($1.6B) exceeds total debt ($1M)
AA Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.45x means Alcoa Corporation can comfortably meet its short-term obligations, though there is limited excess liquidity. The quick ratio of 0.87x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.45 | 1.45 | 1.45 | 1.45 | 1.75 | 1.56 | 1.64 | 1.38 | 1.48 | 1.30 | 1.13 |
| Quick Ratio | 0.87 | 0.87 | 0.86 | 0.74 | 0.94 | 0.95 | 1.13 | 0.74 | 0.86 | 0.86 | 0.72 |
| Cash Ratio | 0.42 | 0.42 | 0.34 | 0.31 | 0.45 | 0.56 | 0.58 | 0.34 | 0.38 | 0.42 | 0.30 |
| Asset Turnover | — | 0.79 | 0.87 | 0.76 | 0.86 | 0.83 | 0.63 | 0.72 | 0.84 | 0.68 | 0.56 |
| Inventory Turnover | 5.06 | 5.06 | 5.35 | 4.85 | 4.46 | 5.02 | 6.16 | 5.65 | 5.95 | 6.72 | 7.43 |
| Days Sales Outstanding | — | 36.34 | 37.12 | 27.55 | 26.00 | 25.94 | 21.65 | 22.95 | 27.08 | 32.32 | 32.64 |
AA Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Alcoa Corporation returns 0.6% to shareholders annually primarily through dividends. The payout ratio of 9.1% is conservative, leaving significant room for dividend growth or reinvestment. The earnings yield of 7.0% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.6% | 0.7% | 1.1% | 1.2% | 0.9% | 0.2% | — | — | — | — | — |
| Payout Ratio | 9.1% | 9.1% | 148.3% | — | — | 4.4% | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 7.0% | 8.4% | 0.7% | — | — | 3.8% | — | — | 4.5% | 2.2% | — |
| FCF Yield | 3.5% | 4.1% | 0.5% | — | 4.2% | 4.7% | 1.0% | 7.7% | 1.0% | 8.1% | — |
| Buyback Yield | 0.0% | 0.0% | 0.2% | 0.0% | 6.1% | 1.3% | 0.0% | 0.0% | 1.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.6% | 0.7% | 1.3% | 1.2% | 7.0% | 1.5% | 0.0% | 0.0% | 1.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $263M | $214M | $178M | $181M | $190M | $186M | $185M | $189M | $187M | $183M |
Peer Comparison
Compare AA with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 AAYou | $16B | 14.2 | 9.3 | 28.9 | 13.6% | 7.6% | 20.2% | 12.7% | 0.0 |
 CENX | $6B | 19.0 | 31.2 | — | 8.3% | 5.5% | 66.9% | 9.7% | 2.6 |
 KALU | $3B | 26.6 | 12.9 | — | 9.5% | 5.7% | 15.1% | 7.8% | 3.6 |
 CSTM | $5B | 17.4 | 7.9 | 28.5 | 10.1% | 5.6% | 32.2% | 13.4% | 2.4 |
 NEM | $128B | 18.0 | 9.2 | 17.5 | 49.8% | 46.9% | 22.1% | 24.9% | 0.0 |
 FCX | $88B | 40.1 | 11.2 | 78.4 | 27.0% | 24.4% | 7.4% | 12.8% | 1.3 |
 MP | $13B | -145.3 | — | — | -2.4% | -44.6% | -5.0% | -4.7% | — |
 TECK | $30B | 29.8 | 12.5 | — | 21.8% | 16.5% | 5.3% | 4.4% | 2.8 |
 RIO | $211B | 14.9 | 10.5 | 35.2 | 56.4% | 29.2% | 20.2% | 18.6% | 0.7 |
 BA | $181B | 92.7 | — | — | 4.8% | -6.1% | 289.7% | -9.5% | — |
 HWM | $103B | 69.1 | 43.6 | 71.8 | 30.7% | 25.8% | 30.4% | 21.1% | 1.3 |
| Basic Materials Median | — | 22.9 | 11.4 | 27.5 | 31.7% | 9.8% | 1.0% | 4.4% | 2.6 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Start ComparisonAA — Frequently Asked Questions
Quick answers to the most common questions about buying AA stock.
What is Alcoa Corporation's P/E ratio?
Alcoa Corporation's current P/E ratio is 14.2x. The historical average is 48.4x. This places it at the 20th percentile of its historical range.
What is Alcoa Corporation's EV/EBITDA?
Alcoa Corporation's current EV/EBITDA is 9.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 4.6x.
What is Alcoa Corporation's ROE?
Alcoa Corporation's return on equity (ROE) is 20.2%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is -0.5%.
Is AA stock overvalued?
Based on historical data, Alcoa Corporation is trading at a P/E of 14.2x. This is at the 20th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Alcoa Corporation's dividend yield?
Alcoa Corporation's current dividend yield is 0.62% with a payout ratio of 9.1%.
What are Alcoa Corporation's profit margins?
Alcoa Corporation has 13.6% gross margin and 7.6% operating margin.
How much debt does Alcoa Corporation have?
Alcoa Corporation's Debt/EBITDA ratio is 0.0x, indicating low leverage. A ratio below 2x is generally considered financially healthy.