Alcoa Corporation (AA) P/E Ratio History
Deep ValueTrading at 8.9x · 16th percentile of 5-year range · Significant discount to historical valuation · Data 2017–2026
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P/E Ratio Analysis
As of November 8, 2026, Alcoa Corporation (AA) trades at a price-to-earnings ratio of 8.9x, with a stock price of $39.54 and trailing twelve-month earnings per share of $5.75.
The current P/E is 73% below its 5-year average of 32.4x. Over the past five years, AA's P/E has ranged from a low of 7.2x to a high of 196.3x, placing the current valuation at the 16th percentile of its historical range.
Compared to the Basic Materials sector median P/E of 19.4x, AA trades at a 54% discount to its sector peers. The sector includes 136 companies with P/E ratios ranging from 0.2x to 137.4x.
Relative to the broader market, AA trades at a notable discount to the S&P 500 median P/E of 26.3x. Investors should consider the company's growth prospects, competitive position, and earnings quality when evaluating whether the current valuation is justified.
For a comprehensive intrinsic value estimate using discounted cash flow analysis, see our AA DCF Valuation Calculator →
Note: P/E ratio is just one valuation metric. It does not account for balance sheet strength, cash flow quality, or growth sustainability. Always conduct comprehensive due diligence before making investment decisions.
AA Cross-Benchmark Valuation
How does the current P/E compare to sector peers and the broader market?
AA P/E vs Peers
Aluminum and Specialty Alloys peers sorted by market cap
| Company | Market Cap | P/E Ratio | PEG Ratio | EPS Growth (1Y) |
|---|---|---|---|---|
| $3B | 79.7 | - | -87% | |
| $2B | 15.8 | 0.52Best | +136% | |
| $3B | 11.4Lowest | - | +419%Best | |
| $127B | 18.9 | 1.47 | +124% | |
| $85B | 39.1 | 1.30 | +17% | |
| $29B | 30.0 | - | +263% | |
| $136B | 13.7 | - | -14% | |
| $137B | 69.9 | - | +114% | |
| $82B | 55.5 | 1.10 | +32% |
Lower P/E can signal a discount or weaker growth expectations; PEG adds growth context.
AA Historical P/E Data (2017–2026)
Quarterly P/E ratios calculated from closing price and TTM EPS
| Quarter | Period End | Price | TTM EPS | P/E Ratio | vs Avg |
|---|---|---|---|---|---|
| FY2026 Q3 | Sep 30 2026 | $42.00 | $5.83 | 7.2x | -78% |
| FY2026 Q2 | - | $52.14 | $4.91 | 10.6x | -67% |
| FY2026 Q1 | - | $66.33 | $3.99 | 16.6x | -49% |
| FY2025 Q4 | Dec 31 2025 | $53.14 | $4.46 | 11.9x | -63% |
| FY2025 Q3 | - | $32.89 | $4.35 | 7.6x | -77% |
| FY2025 Q2 | Jun 30 2025 | $29.51 | $3.84 | 7.7x | -76% |
| FY2025 Q1 | Mar 31 2025 | $30.50 | $3.32 | 9.2x | -72% |
| FY2022 Q2 | - | $45.58 | $5.09 | 9.0x | -72% |
| FY2022 Q1 | - | $90.03 | $3.77 | 23.9x | -26% |
| FY2021 Q4 | Dec 31 2021 | $59.58 | $2.21 | 27.0x | -17% |
| FY2021 Q3 | - | $48.94 | $4.30 | 11.4x | -65% |
| FY2021 Q2 | Jun 30 2021 | $36.84 | $2.28 | 16.2x | -50% |
| FY2018 Q4 | Dec 31 2018 | $26.58 | $1.20 | 22.1x | -32% |
| FY2018 Q2 | Jun 30 2018 | $46.88 | $0.73 | 64.2x | +98% |
| FY2018 Q1 | Mar 31 2018 | $44.96 | $0.74 | 60.8x | +87% |
| FY2017 Q4 | Dec 31 2017 | $53.87 | $1.15 | 46.8x | +44% |
| FY2017 Q3 | Sep 30 2017 | $46.62 | $1.53 | 30.5x | -6% |
| FY2017 Q2 | Jun 30 2017 | $32.65 | $0.88 | 37.3x | +15% |
| FY2017 Q1 | Mar 31 2017 | $34.40 | $0.18 | 196.3x | +505% |
Average P/E for displayed period: 32.4x
AA Chart Terminal
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Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
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Peer Comparison
Compare growth, multiples, and margins vs sector.
AA — Frequently Asked Questions
Quick answers to the most common questions about buying AA stock.
What is AA's P/E ratio?
Alcoa Corporation (AA) trailing twelve-month P/E ratio is 8.9x, based on TTM diluted EPS of $5.75. The 5-year average P/E is 32.4x and the historical range spans 7.2x to 196.3x.
Is AA stock overvalued or undervalued?
AA trades at 8.9x P/E, below its 5-year average of 32.4x. At the 16th percentile of its historical range (7.2x–196.3x), the stock is priced at a discount to its own history.
Is AA stock expensive?
No, AA is not expensive on a historical basis. The current P/E of 8.9x is below the 5-year average of 32.4x and sits at the 16th percentile of its valuation range.
What is AA's historical P/E range?
Over the past 5 years, AA's P/E ratio has ranged from 7.2x to 196.3x, with a median of 16.6x and an average of 32.4x. The current P/E of 8.9x places the stock at the 16th percentile of this range. Full historical data spans 2017–2026.
How does AA's P/E compare to the S&P 500?
AA trades at 8.9x P/E versus the S&P 500 median of 26.3x. The 66% discount to the market suggests lower growth expectations or perceived higher risk.
How does AA's valuation compare to Basic Materials peers?
Alcoa Corporation P/E of 8.9x compares to the Basic Materials sector median of 19.4x. The discount suggests lower growth expectations, weaker margins, or higher perceived risk relative to peers. See the peer comparison table on this page for ticker-by-ticker P/E and PEG.
What is AA's PEG ratio?
AA PEG ratio is N/A, based on a P/E of 8.9x and EPS growth of 1485.7%. PEG normalises P/E by growth and helps compare stocks with different earnings trajectories.
What is AA's earnings yield?
AA earnings yield is 11.23%, the inverse of its 8.9x P/E ratio. Earnings yield represents the percentage of each dollar invested that the company earns. It can be compared directly to bond yields to assess relative attractiveness of stocks versus fixed income.