AANYSEPrimary Production of AluminumFiscal year ends December 31
Alcoa Corp
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Jul 30, 2026
$41.67+0.22 (+0.53%)
Close on Oct 19, 2026
- Market cap
- $11.08B
- P/E (TTM)
- 8.6
- Dividend yield
- 0.24%
Margins
Share of revenue, fiscal years 2013 to 2025
Gross margin
16.9%+2.8 pts over 5 years
Net margin
9.0%+10.8 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +7.9% | +1.0% | +6.7% | +1.4% | |
| Gross profit | +17.4% | -1.0% | +10.5% | – | |
| Net income | +1828.3% | – | – | – | |
| EPS, diluted | +1580.8% | – | – | – | |
| Free cash flow | +1250.0% | +18.4% | +69.1% | +1.6% | |
| Dividend per share | 0.0% | 0.0% | – | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | -5.3% | -4.6% | – | |
| Return on assets | -2.4% | -1.2% | 7.7% | |
| Current ratio | 1.13 | 1.64 | 1.44 | |
| Debt to equity | 0.26 | 0.77 | – | |
| Inventory turnover | – | 5.2× | 5.1× | |
| Capex to revenue | 4.3% | 3.8% | 4.8% | |
| Diluted shares | 183M | 186M | 261M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Alcoa generated $3.64B from operations and spent $3.61B on capital expenditure, dividends and share buybacks. 72% of that went back into the business.
Generated
$3.64B
Used
$3.61B
Capital expenditure$2.60B72%Dividends$356.00M10%Share buybacks$650.00M18%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin0.5%
×Asset turnover0.84×
×Equity multiplier3.00×
=Return on equity, FY20241.3%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2024 | 0.5% | 0.84× | 3.00× | 1.3% |
| FY2023 | -6.2% | 0.73× | 3.10× | -14.0% |
| FY2022 | -1.0% | 0.84× | 3.06× | -2.5% |
| FY2021 | 3.5% | 0.81× | 3.74× | 10.7% |
| FY2020 | -1.8% | 0.63× | 3.97× | -4.6% |
| FY2019 | -10.8% | 0.68× | 3.16× | -23.1% |
| FY2018 | 1.9% | 0.80× | 3.31× | 4.9% |
| FY2017 | 2.4% | 0.68× | 3.36× | 5.5% |
| FY2016 | -4.3% | 0.56× | 2.20× | -5.3% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
7of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$1.16B
- Cash generatingOperating cash flow above zero$1.19B
- Return on assets improvedROA up on the prior year0.4% → 8.2%
- Earnings backed by cashOperating cash flow above net income$1.19B vs $1.16B
- Less leverageLong-term debt to assets fell17.6% → 15.1%
- Better liquidityCurrent ratio rose1.45 → 1.44
- No dilutionShare count did not rise214M → 261M
- Gross margin improvedGross margin up on the prior year15.56% → 16.94%
- More efficientAsset turnover rose0.84 → 0.91