KAISER ALUMINUM CORP KALU
Kaiser Aluminum Corporation, a Delaware corporation, manufactures and sells semi-fabricated specialty aluminum mill products that include flat-rolled (plate, sheet, and coil), extruded (rod, bar, hollows, and shapes), drawn (rod, bar, pipe, tube, and wire), and certain cast aluminum products. We strategically focus our business on select end markets with demanding applications and high barriers to entry, where we believe we have sustainable competitive advantages that allow us to earn premium pricing and generate long-term profitable growth. The end market applications on which we have historically focused include: (i) Aero/HS Products; (ii) Packaging; (iii) GE Products; and (iv) Automotive Extrusions. These technically challenging applications leverage our core metallurgical and process technology capabilities to produce highly engineered mill products with differentiated characteristics that are required for the particular end uses.
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 | $3.37B | $3.02B | $3.09B | $3.43B | $2.62B | $1.17B | $1.51B | $1.59B | $1.40B | $1.33B |
| Cost of revenue | $2.93B | $2.67B | $2.73B | $3.18B | $2.35B | $941.3M | $1.22B | $1.30B | $1.09B | $1.00B |
| Gross profit | $442.4M | $357.4M | $358.8M | $247.7M | $273.9M | $231.4M | $298.9M | $285.2M | $311.6M | $329.8M |
| R&D | $10.7M | $12.0M | $11.1M | $9.3M | $9.3M | $9.1M | $10.5M | $9.8M | $10.0M | $10.2M |
| Total operating expenses | $3.18B | $2.91B | $2.96B | $3.42B | $2.56B | $1.09B | $1.39B | $1.44B | $1.24B | $1.15B |
| Operating income | $188.8M | $112.2M | $122.5M | $4.0M | $64.4M | $81.1M | $125.7M | $143.6M | $155.2M | $181.1M |
| Interest expense | $50.1M | $43.7M | $46.9M | $48.3M | $49.5M | $40.9M | $24.6M | $22.7M | $22.2M | $20.3M |
| Pre-tax income | $150.0M | $88.0M | $83.0M | -$37.9M | -$24.0M | $38.8M | $80.4M | $120.0M | $133.0M | $147.2M |
| Income tax | $37.5M | $22.3M | $15.2M | $8.3M | $5.5M | $10.0M | $18.4M | $28.3M | $87.6M | $55.5M |
| Net income | $113.0M | $47.0M | $47.0M | -$30.0M | -$19.0M | $28.8M | $62.0M | $91.7M | $45.4M | $91.7M |
| EPS, basic | 6.96 | 4.08 | 4.25 | -1.86 | -1.17 | 1.82 | 3.88 | 5.53 | 2.67 | 5.15 |
| EPS, diluted | 6.77 | 4.02 | 4.21 | -1.86 | -1.17 | 1.81 | 3.83 | 5.43 | 2.63 | 5.09 |
| Shares, diluted (wtd. avg.) | $16.6M | $16.3M | $16.1M | $15.9M | $15.8M | $15.9M | $16.2M | $16.9M | $17.3M | $18.0M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $7.0M | $18.4M | $82.4M | $71.3M | $317.0M | $794.3M | $278.6M | $139.6M | $64.3M | $67.7M |
| Short-term investments | — | — | — | — | — | — | $78.7M | $36.7M | — | — |
| Receivables | $395.2M | $319.7M | $325.2M | $297.2M | $332.7M | $112.8M | $167.1M | $179.8M | $165.0M | $137.7M |
| Inventory | $725.2M | $601.9M | $550.7M | $525.4M | $404.6M | $152.0M | $177.6M | $215.1M | $207.9M | $201.6M |
| Total current assets | $1.26B | $1.07B | $990.2M | $1.04B | $1.21B | $1.12B | $779.8M | $656.6M | $656.6M | $655.9M |
| Property, plant and equipment | $1.15B | $1.16B | $1.05B | $1.01B | $955.2M | $627.2M | $622.0M | $611.8M | $571.4M | $530.9M |
| Goodwill | $18.8M | $18.8M | $18.8M | $18.8M | $39.3M | $18.8M | $18.8M | $44.0M | $18.8M | $37.2M |
| Other intangibles | $41.0M | $45.5M | $50.0M | $55.3M | $67.7M | $26.7M | $29.6M | $32.4M | $25.0M | $26.4M |
| Total assets | $2.56B | $2.41B | $2.27B | $2.29B | $2.42B | $1.86B | $1.53B | $1.42B | $1.39B | $1.44B |
| Accounts payable | $274.6M | $266.9M | $252.7M | $305.1M | $351.4M | $86.1M | $92.0M | $121.4M | $90.0M | $75.8M |
| Total current liabilities | $427.2M | $400.5M | $370.0M | $418.7M | $456.7M | $158.3M | $170.4M | $205.5M | $173.1M | $165.0M |
| Long-term debt | $1.06B | $1.04B | $1.04B | $1.04B | $1.04B | $838.1M | $492.6M | $370.4M | $369.6M | $368.7M |
| Total liabilities | $1.74B | $1.67B | $1.62B | $1.66B | $1.73B | $1.13B | $792.3M | $678.9M | $638.9M | $638.8M |
| Retained earnings | $142.5M | $81.3M | $66.3M | $13.3M | $93.0M | $158.2M | $172.8M | $150.2M | $85.5M | $75.2M |
| Total equity | $826.1M | $743.1M | $708.4M | $631.2M | $692.5M | $732.4M | $733.9M | $740.4M | $746.3M | $804.7M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $111.4M | $167.1M | $211.9M | -$63.1M | $79.4M | $206.9M | $232.3M | $150.2M | $141.5M | $165.6M |
| Depreciation and amortisation | $122.5M | $116.4M | $108.6M | $106.9M | $91.5M | $52.2M | $49.1M | $43.9M | $39.7M | $36.0M |
| Stock-based compensation | $18.5M | $14.4M | $16.1M | $14.3M | $12.9M | $10.0M | $9.8M | $10.3M | $13.3M | $11.8M |
| Capital expenditure | $136.9M | $180.8M | $143.2M | $142.5M | $58.0M | $51.9M | $60.2M | $74.1M | $75.5M | $76.1M |
| Investing cash flow | -$77.8M | -$174.6M | -$128.2M | -$125.8M | -$665.8M | $26.9M | -$101.8M | $31.1M | -$25.5M | -$276.4M |
| Financing cash flow | -$44.6M | -$55.3M | -$54.3M | -$56.8M | $109.1M | $281.9M | $8.5M | -$106.0M | -$119.4M | $94.8M |
| Dividends paid | $51.3M | $50.7M | $50.4M | $50.1M | $46.7M | $43.4M | $39.4M | $37.7M | $35.0M | $32.4M |
| Buybacks | — | — | — | — | — | $12.5M | $44.2M | $60.7M | $79.5M | $33.3M |
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 0001193125-26-187425.
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