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CENXCentury Aluminum Company
$38.82$3.8B
Overview & Tools
OverviewChart Terminal ↗Visualize
Valuation & Forecasts
Valuation ModelsEstimatesDCF Model
Price & Analyst Data
Analyst TargetsPrice History
Financial Statements
Income StatementBalance SheetCash FlowRatios & Margins
Performance
P/E HistoryRevenue HistoryEarnings HistoryDividend HistoryTotal Return
Discovery & Screens
Live BreakoutsStock ScreenerOwnership
CENX logo

Century Aluminum Company

CENX
NASDAQ · Aluminum
$38.82
At close - Sep 23, 4:00 PM EDT - USD
Market Cap$3.84B
P/E92.4x
52W High$70.43
Volume1.1M
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2026Q2

Cyclical Peak Margins Mask Power Contract Risk

Century Aluminum is in the midst of a powerful cyclical upswing, with Q2 2026 revenue surging 19.7% YoY to $752.1M and gross margin expanding to 30.3% from 5.8% a year earlier, driving record EPS of $2.39. The balance sheet has strengthened markedly, with debt...

GrowthAccelerating
ProfitabilityStrong
ValuationAttractive
TechnicalsWeak
Explore valuation models
MARKET ACTION

CENX price & volume

Price trend, volume and key moving averages

Launch Terminal
Loading chart...
Decision Checklist4 Core Signals

What matters now

The signals most likely to change the investment case.

01

Earnings momentum

6/12 Beats

EPS beat 6 of last 12 quarters

02

Valuation risk

+297% Peers

P/E is 297% above peer median

03

Market leadership

RS 23 · Lag

Laggard (Underperforming 77% of market)

04

Weak Trend

Below 200DMA

Price < 200DMA

Next CatalystConfirmed earnings · Nov 5
01

Build the investment case

Start with the evidence for owning the stock and the risks that can break the thesis.

EXECUTIVE THESIS

The Investment Case

Full Analysis
Fundamental Trajectory

Revenue growth accelerated to 19.7% YoY in Q2 2026, with gross margin expanding to 30.3% from 5.8% a year earlier, though the record EPS of $2.39 included a $37.7M tax benefit.

Analyst Consensus+83.7% target
Hold(22 analysts)
9 Buy11 Hold2 Sell

The Bull Case

Upside Catalysts

Strong revenue growth potential

In a bull case with aluminum prices above $3,000/t, revenue growth could exceed +30% and EPS could jump significantly from a low base.

Attractive valuation metrics

The stock has a forward P/E of 3.91x and is currently trading 24% below its 52-week high, indicating potential upside.

Strategic joint venture expansion

The partnership with Emirates Global Aluminium to build a new primary aluminum plant in Oklahoma will more than double current U.S. primary aluminum capacity.

The Bear Case

Key Downside Risks

Market performance

Price History →

Trailing total returns as of 9/24/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
CENX-5.18%
S&P 500 (^GSPC)+12.39%
1-Year Return
CENX+44.58%
S&P 500 (^GSPC)+15.77%
3-Year Return
CENX+492.67%
S&P 500 (^GSPC)+84.48%
5-Year Return
CENX+176.30%
S&P 500 (^GSPC)+63.70%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/EMedian
92.4x
Forward P/EExpansion
3.9x
EV/EBITDA100th %ile
17.0x
FCF YieldCash Flow
2.2%

Valuation vs 5-Year History

Multiple Range
Metric
Current
5Y Median
Historical Range
Percentile
P/E
92.4x
93.3x
50th· Fair
EV/EBITDA
17.0x
14.1x
100th· High
Price/FCF
45.3x
105.8x
50th· Fair
Current Multiple
5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection
Bear$17.78-54.2%
Base (Fair)$40.44+3.7%
Bull$48.90+26.0%
$17.78 Bear$40.44 Base$48.90 Bull
Current Market Price: $38.82
Trades at a 4.0% discount to Base DCF ($40.44)
Open DCF & Valuation Models →Chart Terminal ↗

Growth & profitability

Annual revenue & EPS trend
Revenue
$2.53B+13.9% YoY
Net income
$42M-87.6% YoY
Free cash flow
$85M+179.3% YoY
Operating margin
6.3%+0.8 pts YoY
ROIC (TTM)9.5%
Avg ROIC 5Y-
ROE (TTM)5.2%
Piotroski Score7 / 9
Financial Statements →
03

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History
EPS Beat Rate6/12 (50%)
Revenue Beat Rate10/12 (83%)
QuarterEPS (Act vs Est)Revenue (Act vs Est)
Q3 2026Latest
Aug 6, 2026
$2.46+5.6%
vs $2.33
$752M-8.0%
vs $817M
Q2 2026
May 7, 2026
$1.06-8.6%
vs $1.16
$649M+2.0%
vs $636M
Q1 2026
Feb 19, 2026
$0.02-98.4%
vs $1.25
$634M-2.7%
vs $652M
Q4 2025
Nov 6, 2025
$0.15-81.0%
vs $0.79
$632M+0.6%
vs $628M
Historical baseline: 12 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

5 Stories
Seeking Alpha·Sep 16, 2026
Century Aluminum: More Production Could Make Earnings More Durable

Century Aluminum is rated Buy with a $48 price target, driven by expanded production capacity and improved liquidity post-Mt. Holly and Grundartangi ramp-ups. Q2 profitability was primarily fueled by higher aluminum prices and regional premiums, with gross margin rising to 30.3% and significant government credit support. CENX expects to maintain Q3 EBITDA near Q2 levels ($335M vs. $327M), as incremental production offsets cost pressures, though execution risks remain at Mt. Holly and Grundartangi.

Defense World·Sep 10, 2026
Allianz Asset Management GmbH Makes New Investment in Century Aluminum Company $CENX

Allianz Asset Management GmbH acquired a new position in shares of Century Aluminum Company (NASDAQ: CENX) during the undefined quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 45,945 shares of the industrial products company's stock, valued at approximately $2,114,000. A number of other institutional

GuruFocus·Aug 27, 2026
A Look at Century Aluminum Co (CENX) After 4.4% Gain -- GF Value $23.25 vs Price $45.89

On August 27, 2026, Century Aluminum Co (CENX) shares rose 4.4% to a current price of $45.89, showing a strong performance within its 52-week range of $20.91 to

Defense World·Aug 25, 2026
BlackRock Inc. Takes $474.13 Million Position in Century Aluminum Company $CENX

BlackRock Inc. purchased a new stake in Century Aluminum Company (NASDAQ: CENX) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 10,304,905 shares of the industrial products company's stock, valued at approximately $474,129,000. BlackRock Inc. owned 10.41% of Century Aluminum as

Filtered for Century Aluminum CompanyMore Headlines
04

Compare before deciding

Benchmark CENX against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for Century Aluminum Company (CENX)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
CENX logoCENXCentury Aluminum CompanyCurrent
$38.82$3.84B92.4313.85%1.65%5.21%—
AA logoAAAlcoa Corporation
$44.06$11.63B9.925.31%9.39%18.95%—
KALU logoKALUKaiser Aluminum Corporation
$156.26$2.55B23.0811.54%5.49%26.29%—
CSTM logoCSTMConstellium SE
$24.96$3.38B13.0019.28%5.69%51.66%—
NEM logoNEMNewmont Corporation
$123.55$130.18B19.2719.08%38.06%24.89%—
FCX logoFCXFreeport-McMoRan Inc.
$72.59$104.35B47.751.12%11.38%9.43%—

Compare CENX vs Peers

Century Aluminum Company (CENX) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs AA

Most directly comparable listed peer for CENX.

Scale Benchmark

vs NEM

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

Peer Set

Compare Top 5

vs AA, KALU, CSTM, NEM

05

Keep researching

Verify the primary filings, follow material updates, and answer the remaining questions.

CENX SEC Filings & Documents

Century Aluminum Company (CENX) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Aug 6, 2026·SEC

Material company update

Jun 17, 2026·SEC

Material company update

May 7, 2026·SEC

10-K Annual Reports

4
FY 2026

Mar 3, 2026·SEC

FY 2025

Mar 3, 2025·SEC

FY 2024

Mar 15, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

Aug 6, 2026·SEC

FY 2026

May 7, 2026·SEC

FY 2025

Nov 6, 2025·SEC

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CENX Frequently Asked Questions

Century Aluminum Company (CENX) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is Century Aluminum Company's revenue?

Century Aluminum Company (CENX) reported $2.67B in revenue for fiscal year 2025. This represents a 287% increase from $688.9M in 1996.

How fast is Century Aluminum Company growing?

Century Aluminum Company (CENX) grew revenue by 13.9% over the past year. This is steady growth.

Is CENX profitable?

Yes, Century Aluminum Company (CENX) is profitable, generating $603.5M in net income for fiscal year 2025 (1.7% net margin).

Dividend & Returns
What is CENX's return on equity?

Century Aluminum Company (CENX) has a return on equity (ROE) of 5.2%. This is below average, suggesting room for improvement.

What is Century Aluminum Company's free cash flow?

Century Aluminum Company (CENX) generated $151.2M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

What if you invested $1,000 in CENX back in 1996?

Total return calculator · dividends reinvested · 30+ years of data

See returns →