Alcoa Corp AA
(dollars in millions, except per-share amounts, average realized prices, and average cost amounts)
Alcoa Corporation, a Delaware corporation (Alcoa or the Company) which became an independent, publicly traded company on November 1, 2016, is active in all aspects of the upstream aluminum industry with bauxite mining, alumina refining, and aluminum smelting and casting. The Company has direct and indirect ownership of 25 operating locations across eight countries on five continents.
The Company's operations are comprised of two reportable business segments: Alumina and Aluminum. The Alumina segment primarily consists of the Company's bauxite mines and alumina refineries, and its operations generally include the mining of bauxite and other aluminous ores, as well as the refining, production, and sale of smelter grade and non-metallurgical alumina. The Aluminum segment consists of the Company's aluminum smelting and casting operations along with most of the Company's energy production assets.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $12.83B | $11.89B | $10.55B | $12.45B | $12.15B | $9.29B | $10.43B | $13.40B | $11.65B | $9.32B |
| R&D | $24.0M | $57.0M | $39.0M | $32.0M | $31.0M | $27.0M | $27.0M | $31.0M | $32.0M | $33.0M |
| SG&A | $299.0M | $275.0M | $226.0M | $204.0M | $227.0M | $206.0M | $280.0M | $248.0M | $280.0M | $356.0M |
| Total operating expenses | — | — | — | — | — | — | — | — | — | $9.48B |
| Interest expense | $158.0M | $156.0M | $107.0M | $106.0M | $195.0M | $146.0M | $121.0M | $122.0M | $104.0M | $243.0M |
| Pre-tax income | $1.06B | $289.0M | -$584.0M | $702.0M | $1.20B | $173.0M | -$438.0M | $1.62B | $1.20B | -$162.0M |
| Income tax | $55.0M | $265.0M | $189.0M | $664.0M | $629.0M | $187.0M | $415.0M | $732.0M | $592.0M | $184.0M |
| Net income | $1.16B | $60.0M | -$651.0M | -$123.0M | $429.0M | -$170.0M | -$1.12B | $250.0M | $279.0M | -$400.0M |
| EPS, basic | 4.40 | 0.26 | -3.65 | -0.68 | 2.30 | -0.91 | -6.07 | 1.34 | 1.51 | -2.19 |
| EPS, diluted | 4.37 | 0.26 | -3.65 | -0.68 | 2.26 | -0.91 | -6.07 | 1.33 | 1.49 | -2.19 |
| Shares, diluted (wtd. avg.) | $261.0M | $214.0M | $178.0M | $181.0M | $190.0M | $186.0M | $185.0M | $189.0M | $187.0M | $183.0M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $1.60B | $1.14B | $1.05B | $1.47B | $1.92B | $1.61B | $883.0M | $1.12B | $1.36B | $859.0M |
| Receivables | $1.06B | $1.10B | $656.0M | $778.0M | $757.0M | $471.0M | $546.0M | $830.0M | $811.0M | $668.0M |
| Inventory | $2.18B | $2.00B | $2.16B | $2.43B | $1.96B | $1.40B | $1.64B | $1.82B | $1.45B | $1.16B |
| Total current assets | $5.47B | $4.91B | $4.41B | $5.25B | $5.03B | $4.52B | $3.53B | $4.33B | $4.24B | $3.18B |
| Property, plant and equipment | $6.70B | $6.39B | $6.79B | $6.49B | $6.62B | $7.19B | $7.92B | $8.33B | $9.14B | $9.32B |
| Goodwill | $0 | $142.0M | $146.0M | $145.0M | $144.0M | $145.0M | $150.0M | $151.0M | $989.0M | $989.0M |
| Other intangibles | $34.0M | $36.0M | $37.0M | $29.0M | $35.0M | $45.0M | $52.0M | $57.0M | $62.0M | — |
| Total assets | $16.13B | $14.06B | $14.15B | $14.76B | $15.03B | $14.86B | $14.63B | $16.13B | $17.45B | $16.74B |
| Accounts payable | $1.94B | $1.80B | $1.71B | $1.76B | $1.67B | $1.40B | $1.48B | $1.66B | $1.90B | $1.46B |
| Short-term debt | $1.0M | $75.0M | $79.0M | $1.0M | $1.0M | $2.0M | $1.0M | $1.0M | $16.0M | $21.0M |
| Total current liabilities | $3.80B | $3.40B | $3.03B | $3.00B | $3.22B | $2.76B | $2.56B | $2.92B | $3.25B | $2.82B |
| Long-term debt | $2.44B | $2.47B | $1.73B | $1.81B | $1.73B | $2.46B | $1.80B | $1.80B | $1.39B | $1.42B |
| Total liabilities | $9.94B | $8.91B | $8.31B | $8.17B | $8.74B | $9.84B | $8.74B | $8.54B | $10.65B | $9.04B |
| Retained earnings | -$271.0M | -$1.32B | -$1.29B | -$570.0M | -$315.0M | -$725.0M | -$555.0M | $570.0M | $113.0M | -$104.0M |
| Total equity | $6.12B | $5.16B | $5.84B | $6.59B | $6.28B | $5.02B | $5.89B | $7.59B | $6.97B | $7.82B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $1.19B | $622.0M | $91.0M | $822.0M | $920.0M | $394.0M | $686.0M | $448.0M | $1.22B | -$311.0M |
| Depreciation and amortisation | $623.0M | $642.0M | $632.0M | $617.0M | $664.0M | $653.0M | $713.0M | $733.0M | $750.0M | $718.0M |
| Stock-based compensation | $41.0M | $36.0M | $35.0M | $40.0M | $39.0M | $25.0M | $30.0M | $35.0M | $24.0M | $28.0M |
| Capital expenditure | $618.0M | $580.0M | $531.0M | $480.0M | $390.0M | $353.0M | $379.0M | $399.0M | $405.0M | $404.0M |
| Investing cash flow | -$502.0M | -$608.0M | -$585.0M | -$495.0M | $565.0M | -$167.0M | -$468.0M | -$405.0M | -$226.0M | -$149.0M |
| Financing cash flow | -$261.0M | $201.0M | $57.0M | -$768.0M | -$1.16B | $514.0M | -$444.0M | -$288.0M | -$506.0M | $749.0M |
| Dividends paid | $104.0M | $89.0M | $72.0M | $72.0M | $19.0M | — | — | — | — | — |
| Buybacks | — | $0 | $0 | $500.0M | $150.0M | — | — | $50.0M | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-077167.
Others in SIC 3334
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| CENX | CENTURY ALUMINUM CO | $4.63B | 111.4x | 13.9% |