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Stock research / United States / AA · Primary Production Of Aluminum · NYSE

Alcoa Corp. (AA)

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Alcoa Corp. (AA) reported revenue of $4.0 billion for Q2 FY2026, the quarter ended 30 June 2026, up 31.4% on the same quarter a year earlier. Net income was $407 million, up 148.2% on the year, and diluted earnings per share $1.53. The figures are the company's own, from the 10-Q it filed with the SEC on 30 July 2026.

Revenue$4.0 billionup 31.4%
Net income$407 millionup 148.2%
Diluted EPS$1.53
QuarterQ2 FY2026ended 30 June 2026

Alcoa (AA) in brief

Alcoa (AA) reported revenue of $12.8 billion for fiscal 2025, the year ended 31 December 2025, up 7.9% on the year before.
Read moreNet income was $1.2 billion and diluted earnings per share $4.37. Revenue was $11.9 billion in fiscal 2024, $10.6 billion in fiscal 2023, $12.5 billion in fiscal 2022 and $12.2 billion in fiscal 2021. Net income in the same years was $60 million, a loss of $651 million, a loss of $123 million and $429 million. Over the twelve months to 30 June 2026, Alcoa reported revenue of $13.6 billion and net income of $1.3 billion. Revenue grew 6.7% a year, compounded, over the five years to fiscal 2025. Alcoa declared $0.10 a share in dividends over the last four quarters and had 264 million shares outstanding at the latest filed count. At 30 June 2026 it carried $2.2 billion of debt and $1.4 billion of cash. At the close of 8 October 2026 the market cap of Alcoa was $11.3 billion, 8.9 times its earnings over the last twelve months.

Ratios

From the filings

ROE17.3%
ROCEn/a
Operating marginn/a
Net margin9.4%
FCF margin2.6%
Interest covern/a
Debt to equity0.30
Cash conversion0.82
Share count, 1 yearn/a
Sales CAGR, 3 years1.0%
Profit CAGR, 3 yearsn/a
EPS, TTM$4.81

At the close of 8 October 2026

Price$42.83
Market cap$11.3 billion
Stock P/E8.90
Price to book1.53
EV / EBITDAn/a
Dividend yield0.2%
Market cap / sales0.83
52-week high$83.79
52-week low$35.02
Price, 1 year15.6%
Price CAGR, 3 years16.3%
Price CAGR, 5 years-1.4%
Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest daily close from SimFin. Debt to equity here stands on the one borrowings figure Alcoa Corp. files, which has finance leases inside it; operating leases are a separate line. Nothing here is a valuation or a view.
AAgreeksoup.ai
Daily closes to 8 October 2026, adjusted for splits; prices from SimFin.
Read moreDay by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on AA

Filings29 in twelve months: 14 current reports (8-K), about 7 other events; 4 results of operations; 3 material agreement; 3 regulation fd disclosure; 2 new financial obligation
Planned insider sales4 Form 144 notices in twelve months, $1.3 million; latest 31 August 2026
Options tapeput/call 0.55 by open interest at the 8 October 2026 close; the straddle prices a 7.1% move to 16 October 2026
13F holders10 of the followed funds hold it; largest FMR LLC; 6 Schedule 13D or 13G filings in twelve months
Insider trading4 sales and 0 purchases on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest12.0 million shares short, 3.52 days to cover at 15 September 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue2,6022,5952,5992,9062,9043,4863,3693,0182,9953,4493,1933,966
Cost of revenue2,4692,4252,4042,5332,3932,7142,4382,6522,6952,8732,5122,967
Gross profit133170195373511772931366300576681999
Gross margin5%7%8%13%18%22%28%12%10%17%21%25%
R&D9.014.011.013.016.017.012.012.011.0-11.010.011.0
SG&A56.064.060.069.066.080.071.082.078.068.083.0101
Interest expense26.028.027.040.044.045.053.056.033.016.035.036.0
Pre-tax income-228-77.0-32592.018433866816116768.0499482
Tax raten/an/an/a66%47%40%18%6%-31%-197%16%15%
Net income-168-150-25220.090.0202548164232213425407
Net margin-6%-6%-10%1%3%6%16%5%8%6%13%10%
Diluted EPS-$0.94-$0.84-$1.41$0.11$0.38$0.76$2.07$0.62$0.88$0.80$1.60$1.53
Operating cash flow69.0198-22328714341575.048885.0537-179608
Capital expenditure14518810116414616993.0131151243119186
Free cash flow-76.010.0-324123-3.0246-18.0357-66.0294-298422
Dividends paid18.018.019.018.026.026.026.026.026.026.027.026.0
Shares outstanding178m178m180mn/an/a258mn/an/an/a263m264m264m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss), 12 fiscal years and the trailing twelve months

FY2014FY2015FY2016 †FY2017 †FY2018 †FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Revenue13,14711,1999,31811,65213,40310,4339,28612,15212,45110,55111,89512,83113,603
Cost of revenuen/an/an/a8,95010,0538,5377,9699,15310,2129,81310,04410,65811,047
Gross profitn/an/an/a2,7023,3501,8961,3172,9992,2397381,8512,1732,556
Gross marginn/an/an/a23.2%25.0%18.2%14.2%24.7%18.0%7.0%15.6%16.9%18.8%
Research and development95.069.033.032.031.027.027.031.032.039.057.024.021.0
Selling, general and administrative383353356280248280206227204226275299330
Operating income-63.0-337-162n/an/an/an/an/an/an/an/an/an/a
Operating margin-0.5%-3.0%-1.7%n/an/an/an/an/an/an/an/an/an/a
Interest expense309270243104122121146195106107156158120
Pre-tax income-63.0-337-1621,2001,625-4381731,199702-5842891,0641,216
Income tax284402184592732415187629664189265-55.0-30.0
Effective tax raten/an/an/a49.3%45.0%n/a108.1%52.5%94.6%n/a91.7%-5.2%-2.5%
Net income-256-863-400279250-1,125-170429-123-65160.01,1571,277
Net margin-1.9%-7.7%-4.3%2.4%1.9%-10.8%-1.8%3.5%-1.0%-6.2%0.5%9.0%9.4%
Diluted EPSn/a-$4.73-$2.19$1.49$1.33-$6.07-$0.91$2.26-$0.68-$3.65$0.26$4.37$4.81
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Revenue by product or service

FY2023FY2024FY2025Share
latest year
Aluminum7,0457,3598,51566.4%
Alumina3,1034,2463,66228.5%
Bauxite4663767275.7%
Energy1181471901.5%
Other Products-181-233-263-2.0%
From the latest 10-K, in the company's own words.
Read moreA year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Revenue by region

FY2023FY2024FY2025Share
latest year
United States4,9935,3656,11547.7%
Australia2,2403,1283,01123.5%
Netherlands2,2612,1932,34218.3%
Brazil7358781,0207.9%
Spain2892933182.5%
Other Geographical Regions33.038.025.00.2%
United StatesAustraliaNetherlandsBrazilSpainOther Geographical Regions
10.6FY202311.9FY202412.8FY2025

$ billion; hover a block for its figure and share

From the latest 10-K, in the company's own words.
Read moreA year is shown only where the parts add up to the revenue above. Fiscal years are labelled by the year they end in.

Cash flow and capital returned

FY2014FY2015FY2016 †FY2017 †FY2018 †FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Operating cash flow842875-3111,22444868639492082291.06221,1851,051
Capital expenditure444391404405399379353390480531580618699
Free cash flow398484-71581949.030741.0530342-44042.0567352
Free cash flow margin3.0%4.3%-7.7%7.0%0.4%2.9%0.4%4.4%2.7%-4.2%0.4%4.4%2.6%
Cash from investingn/an/a-149-226-405-468-167565-495-585-608-502-594
Cash from financingn/an/a749-506-288-444514-1,158-76857.0201-261-564
Depreciation and amortisation954780718750733713653664617632642623657
Share-based compensation39.035.028.024.035.030.025.039.040.035.036.041.048.0
Buybacksn/an/an/an/a50.0n/an/a1505000.00.0n/an/a
Dividends paidn/an/an/an/an/an/an/a19.072.072.089.0104105
Dividend per sharen/an/an/an/an/an/an/a$0.10$0.10$0.10$0.10$0.10n/a
Diluted shares, weighted182m182m183m187m189m185m186m190m181m178m214m261m266m
Shares outstanding at period endn/an/a183m185m185m186m186m184m177m178m258m263m264m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2014FY2015FY2016 †FY2017 †FY2018 †FY2019FY2020FY2021FY2022FY2023FY2024FY2025TTM
Funded by
Shareholders' equity13,0739,4425,6544,5235,6184,1123,3114,6725,0764,2515,1576,1187,370
Non-controlling interestn/a2,0712,0432,2751,9701,7741,7051,6121,5131,5940.0n/an/a
Redeemable equityn/an/an/an/an/an/an/an/an/an/a0.076.067.0
Short-term borrowingsn/an/an/an/an/an/a77.075.00.056.050.09.00.0
Debtn/a2251,4451,4041,8021,8002,4651,7271,8071,8112,5452,4392,224
Operating lease liabilitiesn/an/an/an/an/a10082.064.059.0104223259n/a
Other liabilitiesn/a4,6757,5999,2456,7426,8457,2206,8756,3016,3396,0897,2287,192
Total liabilities and equityn/a16,41316,74117,44716,13214,63114,86015,02514,75614,15514,06416,12916,853
Owned
Fixed assetsn/a9,3909,3259,1388,3277,9167,1906,6236,4936,7856,3896,7006,899
Goodwill1601529899891511501451441451461420.0n/a
Intangible assetsn/an/an/a62.057.052.045.035.029.037.036.034.0n/a
Investmentsn/a1,4721,358n/an/an/an/an/an/an/a0.01,3971,360
Cash and equivalents2665578531,3581,1138791,6071,8141,3639441,1381,5971,352
Receivablesn/a3806688118305464717577786561,0961,0641,538
Inventoryn/a1,1721,1601,4531,8191,6441,3981,9562,4272,1581,9982,1772,340
Other assetsn/a3,2902,3883,6363,8353,4444,0043,6963,5213,4293,2653,1603,364
Total assetsn/a16,41316,74117,44716,13214,63114,86015,02514,75614,15514,06416,12916,853
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded1.4%6.7%1.0%6.5%
Profit growth, compoundedn/an/an/a27.2%
Return on equity, average-1.7%2.3%1.6%18.9%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Peers: Steel Works Etc

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Corning Inc. GLW$131.6 billion69.7915.1%15.3%19.4%0.620.7%
Howmet Aerospace Inc. HWM$89.1 billion48.0132.6%27.4%18.1%0.790.3%
Nucor Corp. NUE$55.8 billion19.6313.0%n/a17.2%0.290.9%
Steel Dynamics Inc. STLD$33.6 billion21.2317.1%10.0%19.8%0.450.9%
ATI Inc. ATI$25.6 billion55.1725.4%15.2%4.6%0.960.0%
Carpenter Technology Corp. CRS$19.2 billion36.8023.8%22.5%8.6%0.310.2%
POSCO Holdings Inc. PKX *$17.2 billion33.441.2%2.1%-6.1%0.513.8%
Mueller Industries Inc. MLI$13.4 billion15.7524.0%23.0%14.8%0.000.8%
Alcoa Corp. AA$11.3 billion8.9017.3%n/a6.5%0.300.2%
Commercial Metals Co. CMC$7.0 billion11.8813.1%7.6%15.2%0.711.1%
Belden Inc. BDC$4.2 billion17.5517.6%11.9%9.4%0.890.2%
No other company here shares its SEC industry code (Primary Production Of Aluminum); these are the names nearest in size in its wider industry, Steel Works Etc, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

Filings

FilingPeriodFiledWhere
10-Q30 June 202630 July 2026EDGAR
10-Q31 March 202630 April 2026EDGAR
10-K31 December 202526 February 2026EDGAR
10-Q30 September 202528 October 2025EDGAR
10-Q30 June 202531 July 2025EDGAR
10-Q31 March 20251 May 2025EDGAR
10-K31 December 202420 February 2025EDGAR
10-Q30 September 202431 October 2024EDGAR
10-Q30 June 20242 August 2024EDGAR
10-Q31 March 20242 May 2024EDGAR

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