Frontierby eninvs

Language: EN · RU

← Region

Alcoa Corporation (AA) USD

At a glance: strengths & risks
✓Revenue growing (+8%)✓Profit growing (+1828%)✓Margins improving (8%→13%)✓Low leverage (0.7x EBITDA)✓Cheaper than own history (EV/EBITDA 6.5 vs avg 10.7)

Sector: Aluminium

Geography: USA, Australia, Canada, Iceland

COMM_AA

Price chart

49.59 USDDay -3.18%

Key metrics

Net debt (table and EV/EBITDA): |short-term borrowings| + |long-term borrowings| + |other financial liabilities| when extracted + |non-controlling interest| when extracted − |cash and equivalents|; amounts in millions of the reporting currency.

Market

Price
49.59 USD · -3.18%
Market cap
13.0 bn USD

Growth

Δ revenue y/y
31.4%
Δ EBITDA y/y
182.5%

Multiples

P/E (LTM)
10.1x
3y avg: 88.2x
P/B (FY)
2.1x
P/E (ann.)
8.0x
EV/EBITDA (LTM)
6.5x
3y avg: 10.7x
EV/EBITDA (ann.)
3.9x

Cash return

Dividend yield
0.8%
FCF yield (LTM)
2.7%

Value creation

to target market cap (spot commodity model)
Upside (potential)
-31.3%
↓ details

Liquidity

Daily turnover (listing)
287.6 mln USD

Shares: yahoo_fundamentals_timeseries/AA

Financial results

Monetary columns are in B USD, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.

DatePeriodStatusRevenueB USDOperating profitB USDD&AB USDEBITDAB USDNet profitB USDOperating CFB USDCapex + M&AB USDAssetsB USDEquityB USDROE (annualized)Net debtB USDSource
2026-06-30Q2 2026 (3M)OK4.0
y/y 31.4%
0.7
y/y 343.5%
0.2
y/y 13.1%
0.9
y/y 182.5%
0.4
y/y 148.2%
0.6-0.216.9
y/y 12.4%
7.4
y/y 20.1%
22.9%0.8Link
2026-03-31Q1 2026 (3M)OK3.2
y/y -5.2%
0.5
y/y -25.3%
0.2
y/y 9.5%
0.7
y/y -19.0%
0.4
y/y -22.4%
-0.2-0.116.6
y/y 14.2%
6.8
y/y 17.4%
26.3%1.2Link
2025-12-31Q4 2025 (3M)OK3.4
y/y -1.1%
0.1
y/y -79.9%
0.2
y/y 1.9%
0.2
y/y -53.7%
0.2
y/y 5.4%
0.5-0.216.1
y/y 14.7%
6.1
y/y 18.6%
18.6%1.2Link
2025-09-30Q3 2025 (3M)OK3.0
y/y 3.1%
0.2
y/y -9.2%
0.2
y/y 0.6%
0.3
y/y -4.7%
0.2
y/y 157.8%
0.1-0.216.0
y/y 9.8%
6.3
y/y 20.9%
5.0%1.1Link
2025-06-30Q2 2025 (3M)OK3.0
y/y 3.9%
0.2
y/y 75.0%
0.2
y/y -6.1%
0.3
y/y 23.1%
0.2
y/y 720.0%
0.5-0.115.0
y/y 4.8%
6.1
y/y 57.3%
11.0%1.1Link
2025-03-31Q1 2025 (3M)OK3.4
y/y 29.6%
0.7
y/y —
0.1
y/y -8.1%
0.8
y/y —
0.5
y/y —
0.1-0.114.6
y/y 1.7%
5.8
y/y 45.6%
40.0%1.4Link
2024-12-31Q4 2024 (3M)OK3.5
y/y 34.3%
0.3
y/y 539.0%
0.2
y/y -2.5%
0.5
y/y 477.9%
0.2
y/y 234.7%
0.4-0.214.1
y/y -0.6%
5.2
y/y 21.3%
1.2%1.7Link
2024-09-30Q3 2024 (3M)OK2.9
y/y 11.6%
0.2
y/y —
0.2
y/y -2.5%
0.3
y/y —
0.1
y/y —
0.1-0.114.5
y/y 4.5%
5.2
y/y 16.4%
2.6%1.2Link
2024-06-30Q2 2024 (3M)OK2.9
y/y 8.3%
0.1
y/y —
0.2
y/y 6.5%
0.3
y/y 372.2%
0.0
y/y —
0.3-0.214.3
y/y 1.3%
3.9
y/y -19.5%
2.0%1.1Link
2024-03-31Q1 2024 (3M)OK2.6
y/y -2.7%
-0.3
y/y —
0.2
y/y 5.2%
-0.2
y/y —
-0.3
y/y —
-0.2-0.114.3
y/y -0.3%
4.0
y/y -14.8%
-24.5%1.2Link
2023-12-31Q4 2023 (3M)OK2.6
y/y —
-0.1
y/y —
0.2
y/y —
0.1
y/y —
-0.1
y/y —
0.2-0.214.2
y/y —
4.3
y/y —
-14.9%1.1Link
2023-09-30Q3 2023 (3M)OK2.6
y/y —
-0.2
y/y —
0.2
y/y —
-0.1
y/y —
-0.2
y/y —
0.1-0.113.9
y/y —
4.5
y/y —
-4.8%0.9Link
2023-06-30Q2 2023 (3M)OK2.7
y/y —
-0.1
y/y —
0.2
y/y —
0.1
y/y —
-0.1
y/y —
0.0-0.114.1
y/y —
4.8
y/y —
-8.6%0.8Link
2023-03-31Q1 2023 (3M)OK2.7
y/y —
-0.2
y/y —
0.2
y/y —
0.0
y/y —
-0.2
y/y —
-0.2-0.114.4
y/y —
4.7
y/y —
—0.7Link

Net debt structure (leases included, IFRS 16) 2026-06-30

Long-term debt (incl. LT leases)2 224
− Cash & equivalents1 400
Net debt824

Net debt / LTM EBITDA: 0.4x

Revenue & EBITDA

RevenueEBITDA

Quarterly values ($ mln)

-1 00001 0002 0003 0004 0002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Year-over-year change

-200%0%200%400%2024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Cash flow

FCF ($ mln)

-400-20002004002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Net debt / cash ($ mln)

05001 0001 5002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Profit and cash

Worth a look
In a typical year of 2023–2025 operating cash flow came to 5.70x of reported net profit; after capex, 0.59x. Loss years (2023) are left out of the ratio.
year202320242025
cash flow / profit—10.37x1.02x
accruals, % of assets-5.2%-4.0%-0.2%
Last twelve months (to 2025-Q3): 0.82x of profit came back as operating cash flow.
net debt / EBITDA 0.7x · EBIT covers interest 6.7x · capex 0.9x of depreciation · dividends 157% of free cash flow · share count +21.1% a year
● Dividends were 157% of the free cash flow earned over the window.
● Diluted share count grew 21.1% a year.
Read from the reported annual statements: cash flow / profit is the median of the yearly operating cash flow over net profit for the years shown; accruals are (profit − operating cash flow) / assets, the classic gap between what was booked and what was collected. A gap can be growth in working capital, capitalised costs, revaluations or profit from associates — the panel points at it, the statements explain it. Not investment advice.

Production & Reserves

Physical operating metrics — supplementary, not part of the financial statements

Aluminium

Proved reserves
555.30 mln mdmt
2023
Reserve life (R/P)
19.8 yrs
reserves ÷ annual output
Annual production
28.10 mln mdmt
2025

Production, mln mdmt

35.80202131.50202230.60202328.102025

Proved reserves

YearReserves, mln mdmt
2023555.30
2022621.30
2021479.20

Production

YearProduction, mln mdmtper day, mln mdmt
20269.10 * (4M)
−4.2%		0.07
202528.100.08
202419.60 * (8M)
−1.5%		0.08
202330.60
−2.9%		0.08
202231.50
−12.0%		0.09
202135.800.10
202012 * (4M)0.10

* partial year

EI1 ___NASDAQ_press_comm (NASDAQ / SEC filings)

Key-commodity price — Aluminum

Current 3 242spot vs LTM +6%

Commodity-player potential

Target market cap from conservative EBITDA and the historical EV/EBITDA

Upside: -31.3% ▼ -3.4 pp 1d

Main driver: Aluminum +6% vs LTM; revenue ×1.06 vs costs ×1.03; EBITDA 2 119→2 133; at 6.1× EV/EBITDA → -31%.

Product prices — moves vs the LTM average

CommodityShareSpotLTM3-yrvs LTM, $vs LTM, CAD3y vs LTM
Aluminum (rev)+72%3 241.503 045.152 749.77+6%+7%-10%
Alumina FOB Australia (Platts) (rev)+28%347.18326.76373.20+6%+6%+14%
Alumina FOB Australia (Platts) (cost)-18%347.18326.76373.20+6%+6%+14%
Electricity Spot (cost)-13%57.8062.1952.40-7%-7%-16%
Aluminum (cost)-11%3 241.503 045.152 749.77+6%+7%-10%
Henry Hub Gas (cost)-2%2.733.383.11-19%-19%-8%

How it is calculated — revenue → costs → EBITDA → target market cap

1 · Reported baseline (LTM)
LTM revenue13 603
LTM EBITDA2 119
LTM cash costs (revenue − EBITDA)11 484
2 · Revenue projection
Revenue multiplier — spot×1.064 (+6%)
= Spot revenue14 472
Revenue multiplier — 3y price×0.971 (-3%)
= 3-year-price revenue13 206
3 · Costs projection
Cost multiplier — spot×1.026 (+3%)
= Spot cash costs11 780
Cost multiplier — 3y price×1.013 (+1%)
= 3-year-price cash costs11 632
4 · EBITDA projection (revenue − costs)
= Spot EBITDA2 693
= 3-year-price EBITDA1 574
Conservative EBITDA = min(spot, avg)2 133
5 · Valuation → target market cap
Historical EV/projected-EBITDA (75th pct)6.1x
Target EV = EV/EBITDA × conservative EBITDA13 077
Net debt2 139
Target market cap = EV − net debt10 938
Current market cap12 953

Upside = target market cap ÷ current − 1 = -31.3%

Life of mine: 15 yrs — before haircut -15.6%

Spot model vs reported — what the spot model projected (trailing-LTM base brought to the period × the period's commodity-price move) against the actual report, per reported period (quarter, half-year or full year — per the filer's calendar); amounts in USD mln. green = reported above projection, pink = below.

PeriodAct. revModel revΔ revAct. EBITDAModel EBITDAΔ EBITDA
2024 Q12 5992 627-1.1%-16415—
2024 Q22 9062 948-1.4%255172+48.1%
2024 Q32 9042 731+6.3%34374+360.7%
2024 Q43 4863 074+13.4%497286+74.0%
2025 Q13 3693 485-3.3%816425+92.1%
2025 Q23 0182 973+1.5%314258+21.7%
2025 Q32 9953 169-5.5%327424-22.9%
2025 Q43 4493 259+5.8%230464-50.5%
2026 Q13 1933 514-9.1%661677-2.3%
2026 Q23 9663 724+6.5%901870+3.6%

Revenue growth & acceleration

Growth decelerating ▼
Last-year revenue growth +8% vs +13% the year before — a -4.9 pp move. 3-year CAGR —.
revenue growth by year: 2024 +13% · 2025 +8%
The growth-acceleration signal behind the GARP+acceleration strategy — it favours companies whose revenue growth is speeding up and flags those slowing down (the second derivative of growth).

EV/EBITDA — LTM vs projected

Projected EV/EBITDA 2.8x · target 75th pct (3y) 6.1x · LTM avg 9.6x

EV/EBITDA (LTM)EV/EBITDA (projected)target 75th pct (projected, 3y)

Dividends

Paid (completed)

DatePer shareDetailsStatusSource
2026-08-110.1 USDEx-dividend: 0.1 USD per sharePaidYahoo Finance (ex-div)
2026-05-190.1 USDEx-dividend: 0.1 USD per sharePaidYahoo Finance (ex-div)
2026-03-100.1 USDEx-dividend: 0.1 USD per sharePaidYahoo Finance (ex-div)
2025-11-040.1 USDEx-dividend: 0.1 USD per sharePaidYahoo Finance (ex-div)
2025-08-120.1 USDEx-dividend: 0.1 USD per sharePaidYahoo Finance (ex-div)
2025-05-200.1 USDEx-dividend: 0.1 USD per sharePaidYahoo Finance (ex-div)
2025-03-040.1 USDEx-dividend: 0.1 USD per sharePaidYahoo Finance (ex-div)
2024-10-290.1 USDEx-dividend: 0.1 USD per sharePaidYahoo Finance (ex-div)
2024-08-120.1 USDEx-dividend: 0.1 USD per sharePaidYahoo Finance (ex-div)
2024-05-200.1 USDEx-dividend: 0.1 USD per sharePaidYahoo Finance (ex-div)
2024-03-040.1 USDEx-dividend: 0.1 USD per sharePaidYahoo Finance (ex-div)
2023-10-300.1 USDEx-dividend: 0.1 USD per sharePaidYahoo Finance (ex-div)
2023-08-070.1 USDEx-dividend: 0.1 USD per sharePaidYahoo Finance (ex-div)
2023-05-150.1 USDEx-dividend: 0.1 USD per sharePaidYahoo Finance (ex-div)
2023-03-060.1 USDEx-dividend: 0.1 USD per sharePaidYahoo Finance (ex-div)
2022-10-310.1 USDEx-dividend: 0.1 USD per sharePaidYahoo Finance (ex-div)
2022-08-080.1 USDEx-dividend: 0.1 USD per sharePaidYahoo Finance (ex-div)
2022-05-160.1 USDEx-dividend: 0.1 USD per sharePaidYahoo Finance (ex-div)
2022-03-070.1 USDEx-dividend: 0.1 USD per sharePaidYahoo Finance (ex-div)
2021-10-280.1 USDEx-dividend: 0.1 USD per sharePaidYahoo Finance (ex-div)

KASE: status follows wording in the news headline (paid vs intends to pay). Yahoo: amounts are cash dividends per share on ex-dividend dates (UTC calendar date). stockscope.uz (UZ): amounts are per share in UZS by publication date (not necessarily ex-div).

Reporting forms detected in loaded periods: ✓ ✓ ✓ (Balance sheet / Profit or loss (P&L) / Cash flows)

Financial results, valuation multiples (P/E, P/B, EV/EBITDA), profitability and dividend yield of Alcoa Corporation (AA) — from primary filings.

Alcoa Corporation mines bauxite, refines it into alumina, and smelts aluminum for use in transportation, construction, packaging, and other industrial markets. It also generates and sells electricity to wholesale customers.

Frequently asked questions

What is Alcoa Corporation (AA)'s P/E ratio?
Alcoa Corporation (AA) trades at a P/E of 10.1x (price to trailing 12-month earnings).
What is Alcoa Corporation (AA)'s EV/EBITDA?
Alcoa Corporation (AA) trades at 6.5x EV/EBITDA.
What is Alcoa Corporation (AA)'s P/B ratio?
Alcoa Corporation (AA) trades at a P/B of 2.1x.
What is Alcoa Corporation (AA)'s dividend yield?
Alcoa Corporation (AA)'s trailing 12-month dividend yield is 0.8%.
What is Alcoa Corporation (AA)'s return on equity (ROE)?
Alcoa Corporation (AA)'s ROE is 22.9%.
What is Alcoa Corporation (AA)'s market capitalization?
Alcoa Corporation (AA)'s market cap is 13.0 bn USD.

See also: The Cheapest Stocks in the World (2026): What Value Investing Says About Buying Cheap · global valuation map