AA Chart
About

Alcoa Corporation, together with its subsidiaries, engages in the bauxite mining, alumina refining, aluminum production, and energy generation business in Australia, Brazil, Canada, Iceland, Norway, Spain, the United States, and internationally. The company operates through two segments, Alumina and Aluminum. It operates bauxite and other aluminous ores mining; and processes bauxite into alumina for sale to aluminum smelter customers and customers who process it into industrial chemical products through supply contracts to third parties, as well as aluminum smelting and casting businesses. The company offers primary aluminum in the form of alloy ingot or value-add ingot to customers that produce products for transportation, building and construction, packaging, wire, other industrial markets, and traders. In addition, it provides energy that generates and sells electricity in the wholesale market to traders, large industrial consumers, distribution companies, and other generation companies. The company was formerly known as Alcoa Upstream Corporation and changed its name to Alcoa Corporation in October 2016. The company was founded in 1886 and is headquartered in Pittsburgh, Pennsylvania.

Fundamentals
Scroll to Statements
Sector Basic Materials Industry Aluminum Market Cap 15.90B
Enterprise Value 16.86B Income 1.15B Sales 12.83B
Book/sh 23.64 Cash/sh 6.16 Dividend Yield 65.00%
Payout 9.05% Employees — IPO —
P/E 13.89 Forward P/E 11.76 PEG —
P/S 1.24 P/B 2.60 P/C —
EV/EBITDA 9.02 EV/Sales 1.31 Quick Ratio 0.76
Current Ratio 1.45 Debt/Eq 39.43 LT Debt/Eq —
EPS (ttm) 4.42 EPS next Y 5.22 EPS Growth 12.10%
Revenue Growth -1.10% Earnings 2026-04-15 ROA 5.14%
ROE 19.92% ROIC — Gross Margin 17.08%
Oper. Margin 10.90% Profit Margin 9.12% Shs Outstand 258.96M
Shs Float 257.34M Short Float 2.36% Short Ratio 0.62
Short Interest — 52W High 66.95 52W Low 21.53
Beta 1.86 Avg Volume 7.36M Volume 4.98M
Target Price $61.08 Recom Buy Prev Close $59.81
Price $61.41 Change 2.68%
Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$61.08
Mean price target
2. Current target
$61.41
Latest analyst target
3. DCF / Fair value
$80.14
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$61.41
Low
$38.00
High
$78.00
Mean
$61.08

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-01-27 down Morgan Stanley Overweight → Equal-Weight $64
2026-01-23 main Wells Fargo Equal-Weight → Equal-Weight $64
2026-01-13 down Wells Fargo Overweight → Equal-Weight $71
2026-01-08 down JP Morgan Neutral → Underweight $50
2025-12-23 main Wells Fargo Overweight → Overweight $58
2025-12-19 main Citigroup Buy → Buy $54
2025-12-12 main UBS Neutral → Neutral $48
2025-12-05 main JP Morgan Neutral → Neutral $45
2025-10-23 main JP Morgan Neutral → Neutral $35
2025-10-23 main BMO Capital Market Perform → Market Perform $37
2025-10-17 main HSBC Buy → Buy $41
2025-10-09 main JP Morgan Neutral → Neutral $34
2025-10-08 main Morgan Stanley Overweight → Overweight $43
2025-10-08 init Wells Fargo — → Overweight $40
2025-09-23 main B. Riley Securities Buy → Buy $40
2025-09-19 main UBS Neutral → Neutral $34
2025-09-09 main B. Riley Securities Buy → Buy $38
2025-07-18 main Morgan Stanley Overweight → Overweight $38
2025-07-17 main JP Morgan Neutral → Neutral $27
2025-07-17 main B of A Securities Underperform → Underperform $27
Insider Transactions
Date Shares Value Url Text Insider Position Transaction Start Date Ownership
0 43 2608 — Stock Award(Grant) at price 60.64 per share. JONES TAMMI A Officer — 2026-01-29 00:00:00 D/I
1 66660 — — Stock Award(Grant) at price 0.00 per share. OPLINGER WILLIAM F Chief Executive Officer — 2026-01-28 00:00:00 D
2 17340 — — Stock Award(Grant) at price 0.00 per share. BEERMAN MOLLY S. Chief Financial Officer — 2026-01-28 00:00:00 D
3 13510 — — Stock Award(Grant) at price 0.00 per share. JONES TAMMI A Officer — 2026-01-28 00:00:00 D/I
4 9340 — — Stock Award(Grant) at price 0.00 per share. BACCHI RENATO Officer — 2026-01-28 00:00:00 D
5 11210 — — Stock Award(Grant) at price 0.00 per share. HASTINGS ANDREW General Counsel — 2026-01-28 00:00:00 D
6 1770 — — Stock Award(Grant) at price 0.00 per share. HENRY RENEE Officer — 2026-01-28 00:00:00 D
7 20810 — — Stock Award(Grant) at price 0.00 per share. REED MATTHEW T Chief Operating Officer — 2026-01-28 00:00:00 D
8 328 19204 — Stock Award(Grant) at price 58.55 per share. JONES TAMMI A Officer — 2026-01-26 00:00:00 D/I
9 1022 31835 — Stock Award(Grant) at price 31.15 per share. WILLIAMS STEVEN WALTER Director — 2025-07-03 00:00:00 D
Financials
Line Item2024-12-312023-12-312022-12-312021-12-31
TaxEffectOfUnusualItems-83.37M-14.91M-102.06M-192.78M
TaxRateForCalcs0.210.210.210.27
NormalizedEBITDA1.48B226.00M1.91B2.77B
TotalUnusualItems-397.00M-71.00M-486.00M-714.00M
TotalUnusualItemsExcludingGoodwill-397.00M-71.00M-486.00M-714.00M
NetIncomeFromContinuingOperationNetMinorityInterest60.00M-651.00M-123.00M429.00M
ReconciledDepreciation642.00M632.00M617.00M664.00M
ReconciledCostOfRevenue10.04B9.81B10.21B9.15B
EBITDA1.09B155.00M1.43B2.06B
EBIT445.00M-477.00M808.00M1.39B
NetInterestIncome-156.00M-107.00M-106.00M-195.00M
InterestExpense156.00M107.00M106.00M195.00M
NormalizedIncome373.63M-594.91M260.94M950.22M
NetIncomeFromContinuingAndDiscontinuedOperation60.00M-651.00M-123.00M429.00M
TotalExpenses11.07B10.78B11.12B10.11B
DilutedAverageShares214.00M178.00M181.00M190.00M
BasicAverageShares212.00M178.00M181.00M186.00M
DilutedEPS0.26-3.65-0.682.26
BasicEPS0.26-3.65-0.682.30
DilutedNIAvailtoComStockholders60.00M-651.00M-123.00M429.00M
NetIncomeCommonStockholders60.00M-651.00M-123.00M429.00M
NetIncome60.00M-651.00M-123.00M429.00M
MinorityInterests36.00M122.00M-161.00M-141.00M
NetIncomeIncludingNoncontrollingInterests24.00M-773.00M38.00M570.00M
NetIncomeContinuousOperations24.00M-773.00M38.00M570.00M
TaxProvision265.00M189.00M664.00M629.00M
PretaxIncome289.00M-584.00M702.00M1.20B
OtherIncomeExpense-383.00M-250.00M-523.00M-645.00M
OtherNonOperatingIncomeExpenses38.00M49.00M-10.00M-36.00M
SpecialIncomeCharges-329.00M-130.00M-651.00M-736.00M
GainOnSaleOfPPE-37.00M-14.00M-10.00M354.00M
GainOnSaleOfBusiness0.000.00-79.00M0.00
OtherSpecialCharges36.00M-7.00M82.00M
WriteOff5.00M50.00M58.00M75.00M
RestructuringAndMergernAcquisition287.00M66.00M504.00M1.01B
EarningsFromEquityInterest-24.00M-228.00M-27.00M105.00M
GainOnSaleOfSecurity-68.00M59.00M165.00M22.00M
NetNonOperatingInterestIncomeExpense-156.00M-107.00M-106.00M-195.00M
InterestExpenseNonOperating156.00M107.00M106.00M195.00M
OperatingIncome828.00M-227.00M1.33B2.04B
OperatingExpense1.02B965.00M908.00M960.00M
OtherOperatingExpenses691.00M700.00M672.00M702.00M
DepreciationAmortizationDepletionIncomeStatement642.00M632.00M617.00M664.00M
DepreciationAndAmortizationInIncomeStatement632.00M617.00M664.00M
ResearchAndDevelopment57.00M39.00M32.00M31.00M
SellingGeneralAndAdministration275.00M226.00M204.00M227.00M
GrossProfit1.85B738.00M2.24B3.00B
CostOfRevenue10.04B9.81B10.21B9.15B
TotalRevenue11.89B10.55B12.45B12.15B
OperatingRevenue11.89B10.55B12.45B12.15B
Line Item2024-12-312023-12-312022-12-312021-12-31
OrdinarySharesNumber258.36M178.47M176.97M184.10M
ShareIssued258.36M178.47M176.97M184.10M
NetDebt1.46B923.00M444.00M
TotalDebt2.82B1.97B1.87B1.87B
TangibleBookValue4.98B4.07B4.90B4.49B
InvestedCapital7.75B6.12B6.88B6.47B
WorkingCapital1.52B1.38B2.25B1.80B
NetTangibleAssets4.98B4.07B4.90B4.49B
CapitalLeaseObligations223.00M104.00M59.00M64.00M
CommonStockEquity5.16B4.25B5.08B4.67B
TotalCapitalization7.63B5.98B6.88B6.40B
TotalEquityGrossMinorityInterest5.16B5.84B6.59B6.28B
MinorityInterest0.001.59B1.51B1.61B
StockholdersEquity5.16B4.25B5.08B4.67B
GainsLossesNotAffectingRetainedEarnings-5.11B-3.65B-3.54B-4.59B
OtherEquityAdjustments-5.11B-3.65B-3.54B-4.59B
RetainedEarnings-1.32B-1.29B-570.00M-315.00M
AdditionalPaidInCapital11.59B9.19B9.18B9.58B
CapitalStock3.00M2.00M2.00M2.00M
CommonStock3.00M2.00M2.00M2.00M
PreferredStock0.000.00
TotalLiabilitiesNetMinorityInterest8.91B8.31B8.17B8.74B
TotalNonCurrentLiabilitiesNetMinorityInterest5.51B5.28B5.16B5.52B
OtherNonCurrentLiabilities50.00M36.00M39.00M35.00M
DerivativeProductLiabilities836.00M1.09B1.03B1.05B
EmployeeBenefits763.00M815.00M788.00M1.19B
NonCurrentPensionAndOtherPostretirementBenefitPlans668.00M721.00M693.00M1.07B
TradeandOtherPayablesNonCurrent241.00M450.00M440.00M412.00M
NonCurrentDeferredLiabilities48.00M62.00M65.00M90.00M
NonCurrentDeferredRevenue12.00M20.00M28.00M36.00M
LongTermDebtAndCapitalLeaseObligation2.69B1.84B1.86B1.79B
LongTermCapitalLeaseObligation223.00M104.00M59.00M64.00M
LongTermDebt2.47B1.73B1.81B1.73B
LongTermProvisions881.00M989.00M940.00M956.00M
CurrentLiabilities3.40B3.03B3.00B3.22B
OtherCurrentLiabilities1.00B736.00M681.00M716.00M
CurrentDebtAndCapitalLeaseObligation125.00M135.00M1.00M76.00M
CurrentDebt125.00M135.00M1.00M76.00M
OtherCurrentBorrowings125.00M135.00M1.00M76.00M
PensionandOtherPostRetirementBenefitPlansCurrent362.00M357.00M335.00M383.00M
PayablesAndAccruedExpenses1.91B1.80B1.99B2.05B
Payables1.91B1.80B1.99B2.05B
TotalTaxPayable102.00M88.00M230.00M374.00M
AccountsPayable1.80B1.71B1.76B1.67B
TotalAssets14.06B14.15B14.76B15.03B
TotalNonCurrentAssets9.15B9.75B9.51B10.00B
OtherNonCurrentAssets154.00M166.00M150.00M198.00M
DefinedPensionBenefit128.00M125.00M146.00M164.00M
NonCurrentPrepaidAssets569.00M653.00M668.00M681.00M
NonCurrentDeferredAssets468.00M520.00M457.00M655.00M
NonCurrentDeferredTaxesAssets284.00M333.00M296.00M506.00M
NonCurrentAccountsReceivable284.00M336.00M294.00M293.00M
FinancialAssets0.003.00M2.00M7.00M
InvestmentsAndAdvances980.00M979.00M1.12B1.20B
GoodwillAndOtherIntangibleAssets178.00M183.00M174.00M180.00M
OtherIntangibleAssets36.00M37.00M29.00M36.00M
Goodwill142.00M146.00M145.00M144.00M
NetPPE6.39B6.79B6.49B6.62B
AccumulatedDepreciation-13.16B-13.60B-13.11B-13.13B
GrossPPE19.55B20.38B19.61B19.75B
ConstructionInProgress612.00M569.00M520.00M288.00M
OtherProperties7.63B8.10B7.48B7.53B
MachineryFurnitureEquipment11.08B11.46B11.35B11.68B
LandAndImprovements233.00M257.00M253.00M264.00M
Properties0.000.000.000.00
CurrentAssets4.91B4.41B5.25B5.03B
OtherCurrentAssets514.00M466.00M417.00M358.00M
HedgingAssetsCurrent25.00M29.00M134.00M14.00M
AssetsHeldForSaleCurrent0.00
PrepaidAssets358.00M
Inventory2.00B2.16B2.43B1.96B
OtherInventories551.00M586.00M584.00M376.00M
FinishedGoods406.00M355.00M385.00M529.00M
WorkInProcess251.00M287.00M350.00M257.00M
RawMaterials790.00M930.00M1.11B794.00M
Receivables1.24B808.00M909.00M884.00M
OtherReceivables143.00M152.00M131.00M127.00M
AccountsReceivable1.10B656.00M778.00M757.00M
CashCashEquivalentsAndShortTermInvestments1.14B944.00M1.36B1.81B
CashAndCashEquivalents1.14B944.00M1.36B1.81B
Line Item2024-12-312023-12-312022-12-312021-12-31
FreeCashFlow42.00M-440.00M342.00M530.00M
RepurchaseOfCapitalStock0.000.00-500.00M-150.00M
RepaymentOfDebt-679.00M-72.00M-1.00M-1.29B
IssuanceOfDebt1.03B127.00M4.00M495.00M
CapitalExpenditure-580.00M-531.00M-480.00M-390.00M
EndCashPosition1.23B1.05B1.47B1.92B
BeginningCashPosition1.05B1.47B1.92B1.61B
EffectOfExchangeRateChanges-28.00M10.00M-9.00M-13.00M
ChangesInCash215.00M-437.00M-441.00M327.00M
FinancingCashFlow201.00M57.00M-768.00M-1.16B
CashFlowFromContinuingFinancingActivities201.00M57.00M-768.00M-1.16B
NetOtherFinancingCharges-62.00M73.00M-221.00M-215.00M
ProceedsFromStockOptionExercised0.001.00M22.00M25.00M
CashDividendsPaid-90.00M-72.00M-72.00M-19.00M
PreferredStockDividendPaid-1.00M0.000.00
CommonStockDividendPaid-89.00M-72.00M-72.00M-19.00M
NetCommonStockIssuance0.000.00-500.00M-150.00M
CommonStockPayments0.000.00-500.00M-150.00M
NetIssuancePaymentsOfDebt353.00M55.00M3.00M-799.00M
NetLongTermDebtIssuance353.00M55.00M3.00M-799.00M
LongTermDebtPayments-679.00M-72.00M-1.00M-1.29B
LongTermDebtIssuance1.03B127.00M4.00M495.00M
InvestingCashFlow-608.00M-585.00M-495.00M565.00M
CashFlowFromContinuingInvestingActivities-608.00M-585.00M-495.00M565.00M
NetOtherInvestingChanges9.00M16.00M7.00M966.00M
NetInvestmentPurchaseAndSale-37.00M-70.00M-22.00M-11.00M
SaleOfInvestment0.000.0010.00M0.00
PurchaseOfInvestment-37.00M-70.00M-32.00M-11.00M
CapitalExpenditureReported-580.00M-531.00M-480.00M-390.00M
OperatingCashFlow622.00M91.00M822.00M920.00M
CashFlowFromContinuingOperatingActivities622.00M91.00M822.00M920.00M
ChangeInWorkingCapital-499.00M-270.00M-848.00M-672.00M
ChangeInOtherWorkingCapital-152.00M301.00M
ChangeInOtherCurrentLiabilities-162.00M-93.00M-63.00M-35.00M
ChangeInOtherCurrentAssets-4.00M-210.00M-87.00M-160.00M
ChangeInPayablesAndAccruedExpense177.00M-353.00M-136.00M617.00M
ChangeInAccruedExpense-108.00M-133.00M-173.00M-38.00M
ChangeInPayable285.00M-220.00M37.00M655.00M
ChangeInAccountPayable190.00M-74.00M189.00M354.00M
ChangeInTaxPayable95.00M-146.00M-152.00M301.00M
ChangeInIncomeTaxPayable95.00M-146.00M-152.00M301.00M
ChangeInPrepaidAssets-68.00M39.00M44.00M-41.00M
ChangeInInventory51.00M243.00M-547.00M-639.00M
ChangeInReceivables-493.00M104.00M-59.00M-414.00M
OtherNonCashItems359.00M238.00M732.00M598.00M
StockBasedCompensation36.00M35.00M40.00M39.00M
ProvisionandWriteOffofAssets1.00M
DeferredTax23.00M-22.00M219.00M147.00M
DeferredIncomeTax23.00M-22.00M219.00M147.00M
DepreciationAmortizationDepletion642.00M632.00M617.00M664.00M
DepreciationAndAmortization642.00M632.00M617.00M664.00M
Depreciation642.00M632.00M617.00M664.00M
OperatingGainsLosses37.00M251.00M24.00M-426.00M
PensionAndEmployeeBenefitExpense10.00M6.00M54.00M47.00M
EarningsLossesFromEquityInvestments-2.00M201.00M4.00M-138.00M
GainLossOnInvestmentSecurities-8.00M26.00M-44.00M-24.00M
NetIncomeFromContinuingOperations24.00M-773.00M38.00M570.00M
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

Public Trades for AA
Date User Asset Broker Type Position Size Entry Price Patterns