Alcoa (AA) Financials

$28.79 -0.62 (-2.11%)

As of 05/20/2025 03:59 PM Eastern

Annual Income Statements for Alcoa

This table shows Alcoa's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Income / (Loss) Attributable to Common Shareholders	60	-651	-123	429	-170	-1,125	250	279	-400	-863
Consolidated Net Income / (Loss)	24	-773	38	570	-14	-853	893	608	-346	-739
Net Income / (Loss) Continuing Operations	24	-773	38	570	-14	-853	893	608	-346	-739
Total Pre-Tax Income	289	-584	702	1,199	173	-438	1,625	1,200	-162	-337
Total Operating Income	536	-343	690	949	327	-155	1,811	1,331	16	-25
Total Gross Profit	1,851	738	2,239	2,999	1,317	1,896	3,350	2,702	1,441	2,160
Total Revenue	11,895	10,551	12,451	12,152	9,286	10,433	13,403	11,652	9,318	11,199
Operating Revenue	11,895	10,551	12,451	12,152	9,286	10,433	13,403	11,652	9,318	11,199
Total Cost of Revenue	10,044	9,813	10,212	9,153	7,969	8,537	10,053	8,950	7,877	9,039
Operating Cost of Revenue	10,044	9,813	10,212	9,153	7,969	8,537	10,053	8,950	7,877	9,039
Total Operating Expenses	1,315	1,081	1,549	2,050	990	2,051	1,539	1,371	1,425	2,185
Selling, General & Admin Expense	275	226	204	227	206	280	248	280	356	353
Research & Development Expense	57	39	32	31	27	27	31	32	33	69
Depreciation Expense	642	632	617	664	653	713	733	750	718	780
Restructuring Charge	341	184	696	1,128	104	1,031	527	309	318	983
Total Other Income / (Expense), net	-247	-241	12	250	-154	-283	-186	-131	-178	-312
Interest Expense	156	107	106	195	146	121	122	104	243	270
Other Income / (Expense), net	-91	-134	118	445	-8.00	-162	-64	-27	65	-42
Income Tax Expense	265	189	664	629	187	415	732	592	184	402
Net Income / (Loss) Attributable to Noncontrolling Interest	-36	-122	161	141	156	272	643	329	54	124
Basic Earnings per Share	$0.26	($3.65)	($0.68)	$2.30	($0.91)	($6.07)	$1.34	$1.51	($2.19)	($4.73)
Weighted Average Basic Shares Outstanding	262.93M	179.56M	178.35M	185.40M	186.25M	185.92M	185.50M	184M	183M	182.47M
Diluted Earnings per Share	$0.26	($3.65)	($0.68)	$2.26	($0.91)	($6.07)	$1.33	$1.49	($2.19)	($4.73)
Weighted Average Diluted Shares Outstanding	262.93M	179.56M	178.35M	185.40M	186.25M	185.92M	185.50M	184M	183M	182.47M
Weighted Average Basic & Diluted Shares Outstanding	262.93M	179.56M	178.35M	185.40M	186.25M	185.92M	185.50M	184M	183M	182.47M
Cash Dividends to Common per Share	$0.10	$0.10	$0.10	$0.10	-	-	-	-	-	-

This table shows Alcoa's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	548	202	90	20	-252	-150	-168	-102	-231	-395	-746
Consolidated Net Income / (Loss)	548	202	98	31	-307	-227	-193	-121	-232	-420	-769
Net Income / (Loss) Continuing Operations	548	202	98	31	-307	-227	-193	-121	-232	-420	-769
Total Pre-Tax Income	668	338	184	92	-325	-77	-228	-99	-180	-240	-729
Total Operating Income	695	425	240	110	-239	-60	-117	-66	-100	-147	-669
Total Gross Profit	931	772	511	373	195	170	133	169	266	67	183
Total Revenue	3,369	3,486	2,904	2,906	2,599	2,595	2,602	2,684	2,670	2,663	2,851
Operating Revenue	3,369	3,486	2,904	2,906	2,599	2,595	2,602	2,684	2,670	2,663	2,851
Total Cost of Revenue	2,438	2,714	2,393	2,533	2,404	2,425	2,469	2,515	2,404	2,596	2,668
Operating Cost of Revenue	2,438	2,714	2,393	2,533	2,404	2,425	2,469	2,515	2,404	2,596	2,668
Total Operating Expenses	236	347	271	263	434	230	250	235	366	214	852
Selling, General & Admin Expense	71	80	66	69	60	64	56	52	54	64	44
Research & Development Expense	12	17	16	13	11	14	9.00	6.00	10	9.00	7.00
Depreciation Expense	148	159	159	163	161	163	163	153	153	147	149
Restructuring Charge	5.00	91	30	18	202	-11	22	24	149	-6.00	652
Total Other Income / (Expense), net	-27	-87	-56	-18	-86	-17	-111	-33	-80	-93	-60
Interest Expense	53	45	44	40	27	28	26	27	26	26	25
Other Income / (Expense), net	26	-42	-12	22	-59	11	-85	-6.00	-54	-67	-35
Income Tax Expense	120	136	86	61	-18	150	-35	22	52	180	40
Net Income / (Loss) Attributable to Noncontrolling Interest	0.00	-	8.00	11	-55	-77	-25	-19	-1.00	-25	-23
Basic Earnings per Share	$2.08	$1.17	$0.39	$0.11	($1.41)	($0.84)	($0.94)	($0.57)	($1.30)	($2.06)	($4.17)
Weighted Average Basic Shares Outstanding	262.94M	262.93M	262.40M	262.38M	179.56M	179.56M	178.47M	178.45M	178.40M	178.35M	176.94M
Diluted Earnings per Share	$2.07	$1.18	$0.38	$0.11	($1.41)	($0.84)	($0.94)	($0.57)	($1.30)	($1.95)	($4.17)
Weighted Average Diluted Shares Outstanding	262.94M	262.93M	262.40M	262.38M	179.56M	179.56M	178.47M	178.45M	178.40M	178.35M	176.94M
Weighted Average Basic & Diluted Shares Outstanding	262.94M	262.93M	262.40M	262.38M	179.56M	179.56M	178.47M	178.45M	178.40M	178.35M	176.94M
Cash Dividends to Common per Share	$0.10	-	$0.10	$0.10	$0.10	-	$0.10	$0.10	$0.10	-	$0.10

This table details how cash moves in and out of Alcoa's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Change in Cash & Equivalents	187	-427	-450	314	727	-233	-249	492	302	291
Net Cash From Operating Activities	622	91	822	920	394	686	448	1,224	-311	875
Net Cash From Continuing Operating Activities	622	91	822	920	389	686	448	1,224	-311	875
Net Income / (Loss) Continuing Operations	24	-773	38	570	-14	-853	893	608	-346	-739
Consolidated Net Income / (Loss)	24	-773	38	570	-14	-853	893	608	-346	-739
Depreciation Expense	642	632	617	664	653	713	733	752	718	780
Non-Cash Adjustments To Reconcile Net Income	448	548	813	790	143	1,249	666	369	280	1,252
Changes in Operating Assets and Liabilities, net	-492	-316	-646	-1,104	-393	-423	-1,844	-505	-963	-418
Net Cash From Investing Activities	-608	-585	-495	565	-167	-468	-405	-226	-149	-384
Net Cash From Continuing Investing Activities	-608	-585	-495	565	-167	-468	-405	-226	-149	-384
Purchase of Property, Plant & Equipment	-580	-531	-480	-390	-353	-379	-399	-405	-404	-391
Purchase of Investments	-37	-70	-32	-11	-12	-112	-7.00	-66	-3.00	-63
Sale of Property, Plant & Equipment	3.00	4.00	5.00	966	198	23	1.00	245	112	70
Sale and/or Maturity of Investments	0.00	0.00	10	0.00	-	-	-	-	146	-
Other Investing Activities, net	6.00	12	2.00	0.00	0.00	-	-	-	-	-
Net Cash From Financing Activities	201	57	-768	-1,158	514	-444	-288	-506	749	-162
Net Cash From Continuing Financing Activities	201	57	-768	-1,158	514	-444	-288	-506	749	-162
Repayment of Debt	-684	-71	-5.00	-1,297	-4.00	-13	-143	-68	-38	-24
Repurchase of Common Equity	0.00	0.00	-500	-150	0.00	0.00	-50	-	-	-
Payment of Dividends	-139	-102	-451	-234	-207	-472	-827	-342	-233	-106
Issuance of Debt	1,032	127	4.00	495	739	0.00	560	28	1,228	-
Issuance of Common Equity	65	188	214	21	24	51	149	80	48	2.00
Other Financing Activities, net	-73	-85	-30	7.00	-38	-10	23	-204	-256	-34
Other Net Changes in Cash	-28	10	-9.00	-13	-14	-7.00	-	-	13	-

This table details how cash moves in and out of Alcoa's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	56	-176	-83	38	408	17	-67	-154	-223	-67	-207
Net Cash From Operating Activities	75	415	143	287	-223	198	69	-13	-163	118	134
Net Cash From Continuing Operating Activities	75	415	143	287	-223	198	69	-13	-163	118	134
Net Income / (Loss) Continuing Operations	548	202	98	31	-307	-227	-193	-121	-232	-420	-769
Consolidated Net Income / (Loss)	548	202	98	31	-307	-227	-193	-121	-232	-420	-769
Depreciation Expense	148	159	159	163	161	163	163	153	153	147	149
Non-Cash Adjustments To Reconcile Net Income	45	90	90	-3.00	271	45	102	100	301	126	740
Changes in Operating Assets and Liabilities, net	-666	-36	-204	96	-348	217	-3.00	-145	-385	265	14
Net Cash From Investing Activities	-108	-174	-153	-164	-117	-197	-166	-120	-102	-171	-138
Net Cash From Continuing Investing Activities	-108	-174	-153	-164	-117	-197	-166	-120	-102	-171	-138
Purchase of Property, Plant & Equipment	-93	-169	-146	-164	-101	-188	-145	-115	-83	-171	-128
Purchase of Investments	-15	-7.00	-13	-	-17	-19	-15	-16	-20	-	-11
Sale of Property, Plant & Equipment	0.00	1.00	-	1.00	1.00	2.00	-	1.00	1.00	-	1.00
Sale and/or Maturity of Investments	0.00	-	-	-	0.00	-	-	-	0.00	-	-
Other Investing Activities, net	0.00	1.00	6.00	-1.00	0.00	8.00	-6.00	10	0.00	-	-
Net Cash From Financing Activities	77	-394	-84	-75	754	6.00	35	-24	40	-25	-185
Net Cash From Continuing Financing Activities	77	-394	-84	-75	754	6.00	35	-24	40	-25	-185
Repayment of Debt	-950	-394	-11	-54	-225	-33	-23	-15	0.00	-2.00	-
Repurchase of Common Equity	0.00	-	-	-	0.00	-	-	-	0.00	-	-150
Payment of Dividends	-26	-27	-43	-44	-25	-24	-20	-34	-24	-77	-92
Issuance of Debt	1,033	43	-	24	965	47	55	-	25	4.00	-
Issuance of Common Equity	27	-	-	4.00	61	24	42	36	86	64	67
Other Financing Activities, net	-7.00	-16	-30	-5.00	-22	-8.00	-19	-11	-47	-14	-10
Other Net Changes in Cash	12	-23	11	-10	-6.00	10	-5.00	3.00	2.00	11	-18

This table presents Alcoa's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Total Assets	14,064	14,155	14,756	15,025	14,860	14,631	16,132	17,447	16,741	16,413
Total Current Assets	4,914	4,405	5,250	5,026	4,520	3,530	4,328	4,238	3,181	2,566
Cash & Equivalents	1,138	944	1,363	1,814	1,607	879	1,113	1,358	853	557
Accounts Receivable	1,239	808	909	884	556	660	1,003	1,043	834	504
Inventories, net	1,998	2,158	2,427	1,956	1,398	1,644	1,819	1,453	1,160	1,172
Prepaid Expenses	514	466	417	358	290	288	320	271	283	333
Other Current Assets	25	29	134	14	21	59	73	113	51	-
Plant, Property, & Equipment, net	6,389	6,785	6,493	6,623	7,190	7,916	8,327	9,138	9,325	9,390
Total Noncurrent Assets	2,761	2,965	3,013	3,376	3,150	3,185	3,477	4,071	4,235	4,457
Long-Term Investments	980	979	1,122	1,199	1,051	1,113	1,360	1,410	1,358	1,472
Noncurrent Deferred & Refundable Income Taxes	284	333	296	506	655	642	560	814	741	589
Other Noncurrent Operating Assets	1,497	1,653	1,595	1,671	1,444	1,430	1,557	1,847	2,136	2,396
Total Liabilities & Shareholders' Equity	14,064	14,155	14,756	15,025	14,860	14,631	16,132	17,447	16,741	16,413
Total Liabilities	8,907	8,310	8,167	8,741	9,844	8,745	8,544	10,649	9,044	4,900
Total Current Liabilities	3,395	3,030	3,004	3,223	2,761	2,563	2,919	3,252	2,821	2,404
Short-Term Debt	75	79	1.00	1.00	2.00	1.00	1.00	16	21	18
Accounts Payable	1,805	1,714	1,757	1,674	1,403	1,484	1,663	1,898	1,455	1,379
Current Deferred & Payable Income Tax Liabilities	102	88	230	374	91	104	426	282	147	136
Current Employee Benefit Liabilities	362	357	335	383	395	413	400	459	456	313
Other Current Liabilities	1,051	792	681	791	628	561	429	597	742	558
Total Noncurrent Liabilities	5,512	5,280	5,163	5,518	7,083	6,182	5,625	7,397	6,223	2,496
Long-Term Debt	2,470	1,732	1,806	1,726	2,463	1,799	1,801	1,388	1,424	207
Asset Retirement Reserve & Litigation Obligation	873	974	937	887	918	902	765	875	868	207
Noncurrent Deferred Revenue	665	761	701	790	724	646	523	588	680	1,106
Noncurrent Employee Benefit Liabilities	668	721	693	1,067	2,236	2,254	2,275	3,441	3,017	976
Other Noncurrent Operating Liabilities	836	1,092	1,026	1,048	742	581	261	1,105	234	-
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	5,157	5,845	6,589	6,284	5,016	5,886	7,588	6,798	7,697	11,513
Total Preferred & Common Equity	5,157	4,251	5,076	4,672	3,311	4,112	5,618	4,523	5,654	9,442
Preferred Stock	0.00	0.00	-	-	-	-	-	-	-	-
Total Common Equity	5,157	4,251	5,076	4,672	3,311	4,112	5,618	4,523	5,654	9,442
Common Stock	11,590	9,189	9,185	9,579	9,665	9,641	9,613	9,592	9,533	-
Retained Earnings	-1,323	-1,293	-570	-315	-725	-555	570	113	-104	-
Accumulated Other Comprehensive Income / (Loss)	-5,110	-3,645	-3,539	-4,592	-5,629	-4,974	-4,565	-5,182	-3,775	-1,600
Noncontrolling Interest	0.00	1,594	1,513	1,612	1,705	1,774	1,970	2,275	2,043	2,071

This table presents Alcoa's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	3/31/2025	9/30/2024	6/30/2024	3/31/2024	9/30/2023	6/30/2023	3/31/2023	9/30/2022
Total Assets	14,574	14,542	14,307	14,328	13,917	14,128	14,369	14,885
Total Current Assets	5,207	4,866	4,903	4,881	4,365	4,670	4,946	5,350
Cash & Equivalents	1,202	1,313	1,396	1,358	926	990	1,138	1,432
Accounts Receivable	1,347	1,007	1,074	1,001	796	806	852	868
Inventories, net	2,182	2,096	1,975	2,048	2,190	2,400	2,395	2,400
Prepaid Expenses	438	445	420	452	420	381	455	443
Other Current Assets	38	5.00	38	22	33	93	106	207
Plant, Property, & Equipment, net	6,497	6,721	6,503	6,577	6,532	6,445	6,426	6,254
Plant, Property & Equipment, gross	19,982	20,535	19,999	19,959	19,836	19,814	19,649	19,019
Accumulated Depreciation	13,485	13,814	13,496	13,382	13,304	13,369	13,223	12,765
Total Noncurrent Assets	2,870	2,955	2,901	2,870	3,020	3,013	2,997	3,281
Long-Term Investments	1,011	982	989	969	1,004	1,034	1,051	1,223
Noncurrent Deferred & Refundable Income Taxes	306	329	311	295	395	320	340	417
Other Noncurrent Operating Assets	1,553	1,644	1,601	1,606	1,621	1,659	1,606	1,641
Total Liabilities & Shareholders' Equity	14,574	14,542	14,307	14,328	13,917	14,128	14,369	14,885
Total Liabilities	8,656	9,292	8,891	8,794	7,825	7,670	8,073	7,993
Total Current Liabilities	3,039	3,459	3,166	3,041	2,624	2,596	2,785	2,954
Short-Term Debt	75	464	79	79	1.00	1.00	1.00	1.00
Accounts Payable	1,629	1,544	1,619	1,586	1,472	1,491	1,489	1,590
Current Deferred & Payable Income Tax Liabilities	94	109	119	94	110	67	207	301
Current Employee Benefit Liabilities	318	363	358	331	337	340	332	329
Other Current Liabilities	923	979	991	951	704	697	756	733
Total Noncurrent Liabilities	5,617	5,833	5,725	5,753	5,201	5,074	5,288	5,039
Long-Term Debt	2,573	2,469	2,469	2,469	1,809	1,808	1,806	1,725
Asset Retirement Reserve & Litigation Obligation	852	971	890	915	1,055	932	952	873
Noncurrent Deferred Revenue	697	706	724	740	745	735	735	643
Noncurrent Employee Benefit Liabilities	645	680	691	704	665	687	679	986
Other Noncurrent Operating Liabilities	850	1,007	951	925	927	912	1,116	812
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	103	-	-	-	-	-	-	-
Total Equity & Noncontrolling Interests	5,815	5,250	5,416	5,534	6,092	6,458	6,296	6,892
Total Preferred & Common Equity	5,815	5,250	3,899	3,994	4,509	4,842	4,690	5,371
Preferred Stock	0.00	0.00	-	-	-	-	-	-
Total Common Equity	5,815	5,250	3,899	3,994	4,509	4,842	4,690	5,371
Common Stock	11,551	11,490	9,198	9,186	9,181	9,175	9,164	9,173
Retained Earnings	-801	-1,498	-1,562	-1,564	-1,125	-939	-819	-158
Accumulated Other Comprehensive Income / (Loss)	-4,935	-4,742	-3,737	-3,628	-3,547	-3,394	-3,655	-3,644

This table displays calculated financial ratios and metrics derived from Alcoa's official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	12.74%	-15.26%	2.46%	30.86%	-10.99%	-22.16%	15.03%	25.05%	-16.80%	-14.82%
EBITDA Growth	601.29%	-89.12%	-30.76%	111.73%	145.45%	-84.03%	20.62%	157.32%	12.06%	-40.58%
EBIT Growth	193.29%	-159.03%	-42.04%	336.99%	200.63%	-118.15%	33.97%	1,509.88%	220.90%	-127.24%
NOPAT Growth	118.54%	-742.83%	-91.72%	1,804.87%	75.61%	-110.90%	47.58%	5,921.19%	164.00%	-108.22%
Net Income Growth	103.10%	-2,134.21%	-93.33%	4,171.43%	98.36%	-195.52%	46.88%	275.72%	53.18%	-112.97%
EPS Growth	107.12%	-436.76%	-130.09%	348.35%	85.01%	-556.39%	-10.74%	168.04%	53.70%	-237.86%
Operating Cash Flow Growth	583.52%	-88.93%	-10.65%	133.50%	-42.57%	53.13%	-63.40%	493.57%	-135.54%	3.92%
Free Cash Flow Firm Growth	411.61%	92.91%	-574.36%	-110.38%	12.21%	328.48%	-122.46%	-22.15%	128.68%	0.00%
Invested Capital Growth	-2.60%	-3.01%	18.27%	13.15%	-22.43%	-17.68%	27.29%	-21.60%	-28.61%	0.00%
Revenue Q/Q Growth	8.10%	-0.64%	-5.16%	8.46%	-0.47%	-8.01%	1.28%	5.78%	0.00%	0.00%
EBITDA Q/Q Growth	64.95%	696.15%	-11.71%	-5.86%	53.07%	-63.27%	5.22%	21.73%	0.00%	0.00%
EBIT Q/Q Growth	3,323.08%	25.70%	-17.47%	-8.11%	1,129.03%	-184.76%	8.51%	38.28%	0.00%	0.00%
NOPAT Q/Q Growth	24.68%	20.23%	-26.30%	-56.38%	-64.36%	80.67%	34.76%	17.91%	0.00%	0.00%
Net Income Q/Q Growth	105.93%	19.98%	-57.30%	-40.38%	96.37%	-214.76%	35.51%	25.10%	0.00%	0.00%
EPS Q/Q Growth	114.77%	23.32%	13.92%	-47.44%	64.03%	-45.91%	291.18%	-1.97%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	53.58%	727.27%	-35.22%	134.10%	-36.25%	-28.47%	21.74%	21.43%	37.42%	0.00%
Free Cash Flow Firm Q/Q Growth	61.66%	79.97%	33.88%	-110.51%	-14.11%	1,058.46%	-147.61%	0.00%	0.00%	0.00%
Invested Capital Q/Q Growth	-5.16%	-4.00%	-0.87%	8.94%	-7.77%	-9.06%	3.15%	-22.28%	0.00%	0.00%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	15.56%	6.99%	17.98%	24.68%	14.18%	18.17%	24.99%	23.19%	15.46%	19.29%
EBITDA Margin	9.14%	1.47%	11.44%	16.94%	10.47%	3.80%	18.50%	17.65%	8.57%	6.37%
Operating Margin	4.51%	-3.25%	5.54%	7.81%	3.52%	-1.49%	13.51%	11.42%	0.17%	-0.22%
EBIT Margin	3.74%	-4.52%	6.49%	11.47%	3.44%	-3.04%	13.03%	11.19%	0.87%	-0.60%
Profit (Net Income) Margin	0.20%	-7.33%	0.31%	4.69%	-0.15%	-8.18%	6.66%	5.22%	-3.71%	-6.60%
Tax Burden Percent	8.30%	132.36%	5.41%	47.54%	-8.09%	194.75%	54.95%	50.67%	213.58%	219.29%
Interest Burden Percent	64.94%	122.43%	86.88%	86.01%	54.23%	138.17%	93.02%	92.02%	-200.00%	502.99%
Effective Tax Rate	91.70%	0.00%	94.59%	52.46%	108.09%	0.00%	45.05%	49.33%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.79%	-4.12%	0.68%	9.58%	-0.52%	-1.72%	16.12%	10.91%	0.13%	-0.36%
ROIC Less NNEP Spread (ROIC-NNEP)	-12.24%	130.79%	0.62%	-3.03%	-3.67%	170.82%	26.16%	17.14%	27.93%	79.63%
Return on Net Nonoperating Assets (RNNOA)	-0.35%	-8.31%	-0.09%	0.50%	0.27%	-10.94%	-3.70%	-2.52%	-3.74%	-12.48%
Return on Equity (ROE)	0.44%	-12.43%	0.59%	10.09%	-0.26%	-12.66%	12.41%	8.39%	-3.60%	-12.84%
Cash Return on Invested Capital (CROIC)	3.42%	-1.07%	-16.05%	-2.76%	24.74%	17.68%	-7.90%	35.12%	33.52%	-200.36%
Operating Return on Assets (OROA)	3.15%	-3.30%	5.43%	9.33%	2.16%	-2.06%	10.41%	7.63%	0.49%	-0.41%
Return on Assets (ROA)	0.17%	-5.35%	0.26%	3.81%	-0.09%	-5.55%	5.32%	3.56%	-2.09%	-4.50%
Return on Common Equity (ROCE)	0.37%	-9.33%	0.45%	7.13%	-0.17%	-9.14%	8.75%	5.89%	-2.83%	-10.53%
Return on Equity Simple (ROE_SIMPLE)	0.47%	-18.18%	0.75%	12.20%	-0.42%	-20.74%	15.90%	13.44%	-6.12%	-7.83%
Net Operating Profit after Tax (NOPAT)	45	-240	37	451	-26	-109	995	674	11	-18
NOPAT Margin	0.37%	-2.28%	0.30%	3.71%	-0.29%	-1.04%	7.43%	5.79%	0.12%	-0.16%
Net Nonoperating Expense Percent (NNEP)	13.02%	-134.91%	0.07%	12.61%	3.15%	-172.54%	-10.05%	-6.23%	-27.80%	-79.99%
Return On Investment Capital (ROIC_SIMPLE)	0.58%	-3.14%	0.44%	-	-	-	-	-	-	-
Cost of Revenue to Revenue	84.44%	93.01%	82.02%	75.32%	85.82%	81.83%	75.01%	76.81%	84.54%	80.71%
SG&A Expenses to Revenue	2.31%	2.14%	1.64%	1.87%	2.22%	2.68%	1.85%	2.40%	3.82%	3.15%
R&D to Revenue	0.48%	0.37%	0.26%	0.26%	0.29%	0.26%	0.23%	0.27%	0.35%	0.62%
Operating Expenses to Revenue	11.06%	10.25%	12.44%	16.87%	10.66%	19.66%	11.48%	11.77%	15.29%	19.51%
Earnings before Interest and Taxes (EBIT)	445	-477	808	1,394	319	-317	1,747	1,304	81	-67
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,087	155	1,425	2,058	972	396	2,480	2,056	799	713
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.31	1.41	1.55	2.34	1.27	0.95	0.86	2.16	0.89	0.00
Price to Tangible Book Value (P/TBV)	1.31	1.41	1.55	2.34	1.27	0.95	0.86	2.16	0.89	0.00
Price to Revenue (P/Rev)	0.57	0.57	0.63	0.90	0.45	0.37	0.36	0.84	0.54	0.00
Price to Earnings (P/E)	112.30	0.00	0.00	25.49	0.00	0.00	19.41	34.97	0.00	0.00
Dividend Yield	1.06%	1.19%	0.90%	0.17%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.89%	0.00%	0.00%	3.92%	0.00%	0.00%	5.15%	2.86%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	1.28	1.30	1.47	2.25	1.29	0.96	0.89	1.96	0.91	0.00
Enterprise Value to Revenue (EV/Rev)	0.60	0.71	0.70	0.93	0.61	0.53	0.46	0.92	0.68	0.00
Enterprise Value to EBITDA (EV/EBITDA)	6.59	48.23	6.10	5.47	5.87	13.86	2.48	5.19	7.89	0.00
Enterprise Value to EBIT (EV/EBIT)	16.10	0.00	10.76	8.08	17.89	0.00	3.52	8.18	77.82	0.00
Enterprise Value to NOPAT (EV/NOPAT)	160.97	0.00	232.74	24.96	0.00	0.00	6.18	15.82	562.79	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	11.52	82.14	10.58	12.24	14.48	8.00	13.73	8.72	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	37.03	0.00	0.00	0.00	4.56	4.93	0.00	4.91	2.26	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.49	0.31	0.27	0.27	0.49	0.31	0.24	0.21	0.19	0.02
Long-Term Debt to Equity	0.48	0.30	0.27	0.27	0.49	0.31	0.24	0.20	0.19	0.02
Financial Leverage	0.03	-0.06	-0.15	-0.17	-0.07	-0.06	-0.14	-0.15	-0.13	-0.16
Leverage Ratio	2.56	2.33	2.31	2.64	2.71	2.28	2.33	2.36	1.73	1.43
Compound Leverage Factor	1.67	2.85	2.01	2.27	1.47	3.15	2.17	2.17	-3.45	7.17
Debt to Total Capital	33.04%	23.65%	21.52%	21.56%	32.95%	23.42%	19.19%	17.12%	15.81%	1.92%
Short-Term Debt to Total Capital	0.97%	1.03%	0.01%	0.01%	0.03%	0.01%	0.01%	0.20%	0.23%	0.15%
Long-Term Debt to Total Capital	32.07%	22.62%	21.51%	21.55%	32.92%	23.41%	19.18%	16.92%	15.58%	1.76%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	20.82%	18.02%	20.12%	22.79%	23.08%	20.98%	27.74%	22.35%	17.64%
Common Equity to Total Capital	66.96%	55.53%	60.46%	58.32%	44.26%	53.50%	59.83%	55.15%	61.85%	80.44%
Debt to EBITDA	2.34	11.68	1.27	0.84	2.54	4.55	0.73	0.68	1.81	0.32
Net Debt to EBITDA	0.39	-0.72	-0.48	-0.62	-0.20	-0.48	-0.27	-0.66	-0.96	-2.53
Long-Term Debt to EBITDA	2.27	11.17	1.27	0.84	2.53	4.54	0.73	0.68	1.78	0.29
Debt to NOPAT	57.18	-7.54	48.38	3.83	-93.15	-16.59	1.81	2.08	129.02	-12.86
Net Debt to NOPAT	9.59	0.47	-18.15	-2.85	7.29	1.77	-0.67	-2.02	-68.39	103.09
Long-Term Debt to NOPAT	55.49	-7.21	48.35	3.83	-93.08	-16.58	1.81	2.06	127.14	-11.83
Altman Z-Score	1.40	1.06	1.73	1.98	1.03	0.94	1.68	1.54	0.92	0.00
Noncontrolling Interest Sharing Ratio	14.49%	24.99%	24.28%	29.35%	31.91%	27.79%	29.51%	29.79%	21.42%	17.99%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.45	1.45	1.75	1.56	1.64	1.38	1.48	1.30	1.13	1.07
Quick Ratio	0.70	0.58	0.76	0.84	0.78	0.60	0.72	0.74	0.60	0.44
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	194	-62	-876	-130	1,251	1,115	-488	2,171	2,789	-9,727
Operating Cash Flow to CapEx	107.80%	17.27%	173.05%	0.00%	254.19%	192.70%	112.56%	765.00%	-106.51%	272.59%
Free Cash Flow to Firm to Interest Expense	1.24	-0.58	-8.26	-0.67	8.57	9.21	-4.00	20.88	11.48	-36.02
Operating Cash Flow to Interest Expense	3.99	0.85	7.75	4.72	2.70	5.67	3.67	11.77	-1.28	3.24
Operating Cash Flow Less CapEx to Interest Expense	0.29	-4.07	3.27	7.67	1.64	2.73	0.41	10.23	-2.48	2.05
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.84	0.73	0.84	0.81	0.63	0.68	0.80	0.68	0.56	0.68
Accounts Receivable Turnover	11.62	12.29	13.89	16.88	15.27	12.55	13.10	12.42	13.93	22.22
Inventory Turnover	4.83	4.28	4.66	5.46	5.24	4.93	6.14	6.85	6.76	7.71
Fixed Asset Turnover	1.81	1.59	1.90	1.76	1.23	1.28	1.53	1.26	1.00	1.19
Accounts Payable Turnover	5.71	5.65	5.95	5.95	5.52	5.43	5.65	5.34	5.56	6.55
Days Sales Outstanding (DSO)	31.41	29.70	26.28	21.63	23.90	29.09	27.86	29.40	26.21	16.43
Days Inventory Outstanding (DIO)	75.51	85.27	78.33	66.87	69.67	74.03	59.40	53.28	54.03	47.33
Days Payable Outstanding (DPO)	63.94	64.55	61.32	61.35	66.12	67.28	64.65	68.37	65.66	55.68
Cash Conversion Cycle (CCC)	42.98	50.42	43.29	27.15	27.45	35.85	22.61	14.31	14.58	8.07
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	5,584	5,733	5,911	4,998	4,417	5,694	6,917	5,434	6,931	9,709
Invested Capital Turnover	2.10	1.81	2.28	2.58	1.84	1.65	2.17	1.88	1.12	2.31
Increase / (Decrease) in Invested Capital	-149	-178	913	581	-1,277	-1,223	1,483	-1,497	-2,778	9,709
Enterprise Value (EV)	7,165	7,475	8,693	11,261	5,707	5,489	6,151	10,667	6,303	0.00
Market Capitalization	6,738	5,993	7,858	10,935	4,195	3,907	4,852	9,756	5,026	0.00
Book Value per Share	$19.65	$23.82	$28.69	$24.97	$17.81	$22.16	$30.12	$24.45	$30.92	$51.75
Tangible Book Value per Share	$19.65	$23.82	$28.69	$24.97	$17.81	$22.16	$30.12	$24.45	$30.92	$51.75
Total Capital	7,702	7,656	8,396	8,011	7,481	7,686	9,390	8,202	9,142	11,738
Total Debt	2,545	1,811	1,807	1,727	2,465	1,800	1,802	1,404	1,445	225
Total Long-Term Debt	2,470	1,732	1,806	1,726	2,463	1,799	1,801	1,388	1,424	207
Net Debt	427	-112	-678	-1,286	-193	-192	-671	-1,364	-766	-1,804
Capital Expenditures (CapEx)	577	527	475	-576	155	356	398	160	292	321
Debt-free, Cash-free Net Working Capital (DFCFNWC)	456	510	884	-10	154	89	297	-356	-472	-377
Debt-free Net Working Capital (DFNWC)	1,594	1,454	2,247	1,804	1,761	968	1,410	1,002	381	180
Net Working Capital (NWC)	1,519	1,375	2,246	1,803	1,759	967	1,409	986	360	162
Net Nonoperating Expense (NNE)	21	533	-0.65	-119	-12	745	102	66	357	722
Net Nonoperating Obligations (NNO)	427	-112	-678	-1,286	-599	-192	-671	-1,364	-766	-1,804
Total Depreciation and Amortization (D&A)	642	632	617	664	653	713	733	752	718	780
Debt-free, Cash-free Net Working Capital to Revenue	3.83%	4.83%	7.10%	-0.08%	1.66%	0.85%	2.22%	-3.06%	-5.07%	-3.37%
Debt-free Net Working Capital to Revenue	13.40%	13.78%	18.05%	14.85%	18.96%	9.28%	10.52%	8.60%	4.09%	1.61%
Net Working Capital to Revenue	12.77%	13.03%	18.04%	14.84%	18.94%	9.27%	10.51%	8.46%	3.86%	1.45%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.26	($3.65)	($0.68)	$2.30	($0.91)	($6.07)	$1.22	$1.18	($2.19)	($4.73)
Adjusted Weighted Average Basic Shares Outstanding	262.93M	179.56M	178.35M	185.40M	186.25M	185.92M	185.50M	186.18M	184.20M	182.47M
Adjusted Diluted Earnings per Share	$0.26	($3.65)	($0.68)	$2.26	($0.91)	($6.07)	$1.20	$1.16	($2.19)	($4.73)
Adjusted Weighted Average Diluted Shares Outstanding	262.93M	179.56M	178.35M	185.40M	186.25M	185.92M	185.50M	186.18M	184.20M	182.47M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	($6.07)	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	262.93M	179.56M	178.35M	185.40M	186.25M	185.92M	185.50M	186.18M	184.20M	182.47M
Normalized Net Operating Profit after Tax (NOPAT)	614	-111	970	1,454	302	613	1,285	831	234	671
Normalized NOPAT Margin	5.16%	-1.05%	7.79%	11.96%	3.25%	5.88%	9.59%	7.13%	2.51%	5.99%
Pre Tax Income Margin	2.43%	-5.54%	5.64%	9.87%	1.86%	-4.20%	12.12%	10.30%	-1.74%	-3.01%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	2.85	-4.46	7.62	7.15	2.18	-2.62	14.32	12.54	0.33	-0.25
NOPAT to Interest Expense	0.29	-2.24	0.35	2.31	-0.18	-0.90	8.16	6.48	0.05	-0.06
EBIT Less CapEx to Interest Expense	-0.85	-9.38	3.14	10.10	1.12	-5.56	11.06	11.00	-0.87	-1.44
NOPAT Less CapEx to Interest Expense	-3.41	-7.17	-4.13	5.27	-1.24	-3.84	4.90	4.95	-1.16	-1.25
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	579.17%	-13.20%	1,186.84%	41.05%	-1,478.57%	-55.33%	92.61%	56.25%	-67.34%	-14.34%
Augmented Payout Ratio	579.17%	-13.20%	2,502.63%	67.37%	-1,478.57%	-55.33%	98.21%	56.25%	-67.34%	-14.34%

This table displays calculated financial ratios and metrics derived from Alcoa's official financial filings.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	29.63%	34.34%	11.61%	8.27%	-2.66%	-2.55%	-8.73%	-26.34%	-18.92%	-20.27%	-8.30%
EBITDA Growth	734.31%	375.44%	1,092.31%	264.20%	-13,600.00%	270.15%	92.97%	-92.63%	-100.11%	-154.92%	-178.06%
EBIT Growth	341.95%	881.63%	212.87%	283.33%	-93.51%	77.10%	71.31%	-107.68%	-119.54%	-397.67%	-226.85%
NOPAT Growth	440.79%	704.75%	256.08%	180.23%	-139.00%	59.18%	82.51%	-108.50%	-112.48%	56.89%	-217.14%
Net Income Growth	278.50%	188.99%	150.78%	125.62%	-32.33%	45.95%	74.90%	-117.95%	-141.95%	-13.82%	-307.84%
EPS Growth	246.81%	240.48%	140.43%	119.30%	-8.46%	56.92%	77.46%	-119.32%	-152.21%	5.34%	-336.93%
Operating Cash Flow Growth	133.63%	109.60%	107.25%	2,307.69%	-36.81%	67.80%	-48.51%	-102.43%	-579.41%	-79.12%	-69.20%
Free Cash Flow Firm Growth	-235.55%	196.32%	333.03%	576.27%	98.93%	113.39%	95.07%	79.80%	-88.12%	-23.94%	-406.82%
Invested Capital Growth	10.39%	-2.60%	-1.41%	-10.64%	-2.69%	-3.01%	0.15%	1.64%	13.58%	18.27%	29.97%
Revenue Q/Q Growth	-3.36%	20.04%	-0.07%	11.81%	0.15%	-0.27%	-3.06%	0.52%	0.26%	-6.59%	-21.76%
EBITDA Q/Q Growth	60.33%	40.05%	31.19%	315.33%	-220.18%	392.31%	-148.15%	8,200.00%	98.51%	87.93%	-150.50%
EBIT Q/Q Growth	88.25%	67.98%	72.73%	144.30%	-508.16%	75.74%	-180.56%	53.25%	28.04%	69.60%	-175.05%
NOPAT Q/Q Growth	124.47%	98.70%	244.87%	122.15%	-298.33%	48.72%	-77.27%	34.00%	31.97%	78.03%	-186.19%
Net Income Q/Q Growth	171.29%	106.12%	216.13%	110.10%	-35.24%	-17.62%	-59.50%	47.84%	44.76%	45.38%	-214.10%
EPS Q/Q Growth	75.42%	210.53%	245.45%	107.80%	-67.86%	10.64%	-64.91%	56.15%	33.33%	53.24%	-241.36%
Operating Cash Flow Q/Q Growth	-81.93%	190.21%	-50.17%	228.70%	-212.63%	186.96%	630.77%	92.02%	-238.14%	-11.94%	-75.00%
Free Cash Flow Firm Q/Q Growth	-106.91%	90.25%	-69.79%	8,546.57%	-106.10%	249.62%	38.25%	81.06%	23.52%	44.89%	-152.98%
Invested Capital Q/Q Growth	13.77%	-5.16%	5.54%	-3.06%	0.38%	-4.00%	-4.34%	5.56%	0.05%	-0.87%	-2.91%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	27.63%	22.15%	17.60%	12.84%	7.50%	6.55%	5.11%	6.30%	9.96%	2.52%	6.42%
EBITDA Margin	25.79%	15.55%	13.33%	10.15%	-5.27%	4.39%	-1.50%	3.02%	-0.04%	-2.52%	-19.47%
Operating Margin	20.63%	12.19%	8.26%	3.79%	-9.20%	-2.31%	-4.50%	-2.46%	-3.75%	-5.52%	-23.47%
EBIT Margin	21.40%	10.99%	7.85%	4.54%	-11.47%	-1.89%	-7.76%	-2.68%	-5.77%	-8.04%	-24.69%
Profit (Net Income) Margin	16.27%	5.79%	3.37%	1.07%	-11.81%	-8.75%	-7.42%	-4.51%	-8.69%	-15.77%	-26.97%
Tax Burden Percent	82.04%	59.76%	53.26%	33.70%	94.46%	294.81%	84.65%	122.22%	128.89%	175.00%	105.49%
Interest Burden Percent	92.65%	88.25%	80.70%	69.70%	109.06%	157.14%	112.87%	137.50%	116.88%	112.15%	103.55%
Effective Tax Rate	17.96%	40.24%	46.74%	66.30%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	35.40%	15.32%	8.17%	2.31%	-11.56%	-2.93%	-5.60%	-3.02%	-5.58%	-8.82%	-40.88%
ROIC Less NNEP Spread (ROIC-NNEP)	28.65%	-17.70%	-3.35%	25.64%	161.98%	43.90%	15.58%	7.94%	17.05%	23.47%	-7.50%
Return on Net Nonoperating Assets (RNNOA)	1.64%	-0.51%	-0.15%	-0.11%	-2.20%	-2.79%	-1.26%	-0.79%	-1.94%	-3.58%	1.09%
Return on Equity (ROE)	37.05%	14.81%	8.02%	2.20%	-13.77%	-5.72%	-6.86%	-3.81%	-7.52%	-12.40%	-39.78%
Cash Return on Invested Capital (CROIC)	6.77%	3.42%	2.02%	7.61%	-3.06%	-1.07%	-5.19%	-12.73%	-15.03%	-16.05%	-25.10%
Operating Return on Assets (OROA)	18.76%	9.26%	6.07%	3.42%	-8.37%	-1.38%	-5.72%	-1.95%	-4.49%	-6.72%	-22.29%
Return on Assets (ROA)	14.26%	4.89%	2.61%	0.80%	-8.63%	-6.38%	-5.47%	-3.28%	-6.77%	-13.19%	-24.35%
Return on Common Equity (ROCE)	31.73%	12.66%	6.90%	1.62%	-10.11%	-4.29%	-5.22%	-2.91%	-5.55%	-9.39%	-29.79%
Return on Equity Simple (ROE_SIMPLE)	15.12%	0.00%	-7.71%	-17.85%	-21.23%	0.00%	-21.42%	-31.85%	-15.93%	0.00%	1.66%
Net Operating Profit after Tax (NOPAT)	570	254	128	37	-167	-42	-82	-46	-70	-103	-468
NOPAT Margin	16.92%	7.29%	4.40%	1.28%	-6.44%	-1.62%	-3.15%	-1.72%	-2.62%	-3.86%	-16.43%
Net Nonoperating Expense Percent (NNEP)	6.75%	33.01%	11.52%	-23.33%	-173.54%	-46.84%	-21.18%	-10.96%	-22.63%	-32.29%	-33.37%
Return On Investment Capital (ROIC_SIMPLE)	6.74%	3.30%	-	-	-	-0.55%	-	-	-	-1.23%	-
Cost of Revenue to Revenue	72.37%	77.85%	82.40%	87.16%	92.50%	93.45%	94.89%	93.70%	90.04%	97.48%	93.58%
SG&A Expenses to Revenue	2.11%	2.29%	2.27%	2.37%	2.31%	2.47%	2.15%	1.94%	2.02%	2.40%	1.54%
R&D to Revenue	0.36%	0.49%	0.55%	0.45%	0.42%	0.54%	0.35%	0.22%	0.37%	0.34%	0.25%
Operating Expenses to Revenue	7.01%	9.95%	9.33%	9.05%	16.70%	8.86%	9.61%	8.76%	13.71%	8.04%	29.88%
Earnings before Interest and Taxes (EBIT)	721	383	228	132	-298	-49	-202	-72	-154	-214	-704
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	869	542	387	295	-137	114	-39	81	-1.00	-67	-555
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.94	1.31	1.31	1.82	1.51	1.41	1.13	1.23	1.60	1.55	1.11
Price to Tangible Book Value (P/TBV)	0.94	1.31	1.31	1.82	1.51	1.41	1.13	1.23	1.60	1.55	1.11
Price to Revenue (P/Rev)	0.43	0.57	0.62	0.66	0.58	0.57	0.48	0.55	0.63	0.63	0.45
Price to Earnings (P/E)	6.33	112.30	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	1.31%	1.06%	1.04%	1.01%	1.18%	1.19%	1.40%	1.19%	0.95%	0.90%	1.21%
Earnings Yield	15.81%	0.89%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.94	1.28	1.27	1.57	1.35	1.30	1.10	1.18	1.47	1.47	1.10
Enterprise Value to Revenue (EV/Rev)	0.47	0.60	0.68	0.82	0.74	0.71	0.62	0.68	0.74	0.70	0.50
Enterprise Value to EBITDA (EV/EBITDA)	2.86	6.59	11.38	37.66	409.86	48.23	0.00	0.00	18.30	6.10	4.07
Enterprise Value to EBIT (EV/EBIT)	4.08	16.10	577.08	0.00	0.00	0.00	0.00	0.00	0.00	10.76	6.70
Enterprise Value to NOPAT (EV/NOPAT)	5.93	160.97	210.14	0.00	0.00	0.00	0.00	0.00	0.00	232.74	129.47
Enterprise Value to Operating Cash Flow (EV/OCF)	6.50	11.52	18.52	26.51	251.21	82.14	596.69	97.01	13.94	10.58	5.17
Enterprise Value to Free Cash Flow (EV/FCFF)	14.58	37.03	62.67	19.51	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.45	0.49	0.56	0.47	0.46	0.31	0.30	0.28	0.29	0.27	0.25
Long-Term Debt to Equity	0.43	0.48	0.47	0.46	0.45	0.30	0.30	0.28	0.29	0.27	0.25
Financial Leverage	0.06	0.03	0.05	0.00	-0.01	-0.06	-0.08	-0.10	-0.11	-0.15	-0.15
Leverage Ratio	2.52	2.56	2.51	2.39	2.43	2.33	2.22	2.17	2.42	2.31	2.35
Compound Leverage Factor	2.34	2.26	2.02	1.67	2.65	3.65	2.50	2.98	2.83	2.59	2.44
Debt to Total Capital	30.91%	33.04%	35.84%	31.99%	31.53%	23.65%	22.91%	21.88%	22.30%	21.52%	20.03%
Short-Term Debt to Total Capital	0.88%	0.97%	5.67%	0.99%	0.98%	1.03%	0.01%	0.01%	0.01%	0.01%	0.01%
Long-Term Debt to Total Capital	30.04%	32.07%	30.17%	31.00%	30.55%	22.62%	22.89%	21.87%	22.29%	21.51%	20.02%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	1.20%	0.00%	0.00%	19.05%	19.05%	20.82%	20.03%	19.55%	19.82%	18.02%	17.65%
Common Equity to Total Capital	67.88%	66.96%	64.16%	48.96%	49.42%	55.53%	57.06%	58.57%	57.88%	60.46%	62.32%
Debt to EBITDA	1.27	2.34	4.45	10.94	134.11	11.68	-69.62	-3.34	3.80	1.27	1.07
Net Debt to EBITDA	0.21	0.39	0.97	0.70	11.63	-0.72	4.62	0.40	-0.80	-0.48	-0.58
Long-Term Debt to EBITDA	1.23	2.27	3.75	10.60	129.95	11.17	-69.58	-3.34	3.79	1.27	1.07
Debt to NOPAT	2.63	57.18	82.16	-11.90	-7.55	-7.54	-6.01	-2.63	-14.03	48.38	34.06
Net Debt to NOPAT	0.43	9.59	17.87	-0.76	-0.66	0.47	0.40	0.31	2.97	-18.15	-18.33
Long-Term Debt to NOPAT	2.55	55.49	69.16	-11.53	-7.32	-7.21	-6.01	-2.63	-14.02	48.35	34.04
Altman Z-Score	1.51	1.39	1.22	1.25	1.08	1.16	1.14	1.30	1.45	1.50	1.35
Noncontrolling Interest Sharing Ratio	14.35%	14.49%	13.96%	26.39%	26.59%	24.99%	23.91%	23.58%	26.16%	24.28%	25.13%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.71	1.45	1.41	1.55	1.61	1.45	1.66	1.80	1.78	1.75	1.81
Quick Ratio	0.84	0.70	0.67	0.78	0.78	0.58	0.66	0.69	0.71	0.76	0.78
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-28	403	212	701	-8.30	136	-91	-147	-777	-1,016	-1,843
Operating Cash Flow to CapEx	80.65%	247.02%	97.95%	176.07%	-223.00%	106.45%	47.59%	-11.40%	-198.78%	69.01%	105.51%
Free Cash Flow to Firm to Interest Expense	-0.53	8.96	4.81	17.53	-0.31	4.86	-3.50	-5.45	-29.88	-39.07	-73.73
Operating Cash Flow to Interest Expense	1.42	9.22	3.25	7.18	-8.26	7.07	2.65	-0.48	-6.27	4.54	5.36
Operating Cash Flow Less CapEx to Interest Expense	-0.34	5.49	-0.07	3.10	-11.96	0.43	-2.92	-4.70	-9.42	-2.04	0.28
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.88	0.84	0.77	0.75	0.73	0.73	0.74	0.73	0.78	0.84	0.90
Accounts Receivable Turnover	10.79	11.62	12.21	11.39	11.31	12.29	12.76	11.89	12.44	13.89	15.19
Inventory Turnover	4.77	4.83	4.55	4.49	4.42	4.28	4.35	4.11	4.27	4.66	4.88
Fixed Asset Turnover	1.94	1.81	1.66	1.65	1.61	1.59	1.66	1.68	1.79	1.90	2.03
Accounts Payable Turnover	6.27	5.71	6.47	6.32	6.38	5.65	6.52	6.28	6.66	5.95	6.51
Days Sales Outstanding (DSO)	33.83	31.41	29.90	32.06	32.27	29.70	28.60	30.70	29.35	26.28	24.04
Days Inventory Outstanding (DIO)	76.60	75.51	80.18	81.22	82.63	85.27	83.90	88.82	85.52	78.33	74.87
Days Payable Outstanding (DPO)	58.22	63.94	56.42	57.73	57.19	64.55	55.97	58.12	54.81	61.32	56.07
Cash Conversion Cycle (CCC)	52.21	42.98	53.66	55.54	57.71	50.42	56.53	61.40	60.06	43.29	42.84
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	6,353	5,584	5,888	5,579	5,755	5,733	5,972	6,243	5,914	5,911	5,963
Invested Capital Turnover	2.09	2.10	1.86	1.81	1.80	1.81	1.78	1.76	2.13	2.28	2.49
Increase / (Decrease) in Invested Capital	598	-149	-84	-664	-159	-178	9.00	101	707	913	1,375
Enterprise Value (EV)	5,978	7,165	7,502	8,775	7,787	7,475	6,564	7,373	8,712	8,693	6,562
Market Capitalization	5,440	6,738	6,864	7,095	6,026	5,993	5,101	5,972	7,488	7,858	5,970
Book Value per Share	$22.12	$19.65	$20.01	$21.71	$22.24	$23.82	$25.27	$27.14	$26.30	$28.69	$29.85
Tangible Book Value per Share	$22.12	$19.65	$20.01	$21.71	$22.24	$23.82	$25.27	$27.14	$26.30	$28.69	$29.85
Total Capital	8,566	7,702	8,183	7,964	8,082	7,656	7,902	8,267	8,103	8,396	8,618
Total Debt	2,648	2,545	2,933	2,548	2,548	1,811	1,810	1,809	1,807	1,807	1,726
Total Long-Term Debt	2,573	2,470	2,469	2,469	2,469	1,732	1,809	1,808	1,806	1,806	1,725
Net Debt	435	427	638	163	221	-112	-120	-215	-382	-678	-929
Capital Expenditures (CapEx)	93	168	146	163	100	186	145	114	82	171	127
Debt-free, Cash-free Net Working Capital (DFCFNWC)	1,041	456	558	420	561	510	816	1,085	1,024	884	965
Debt-free Net Working Capital (DFNWC)	2,243	1,594	1,871	1,816	1,919	1,454	1,742	2,075	2,162	2,247	2,397
Net Working Capital (NWC)	2,168	1,519	1,407	1,737	1,840	1,375	1,741	2,074	2,161	2,246	2,396
Net Nonoperating Expense (NNE)	22	52	30	6.07	140	185	111	75	162	317	301
Net Nonoperating Obligations (NNO)	435	427	638	163	221	-112	-120	-215	-382	-678	-929
Total Depreciation and Amortization (D&A)	148	159	159	163	161	163	163	153	153	147	149
Debt-free, Cash-free Net Working Capital to Revenue	8.22%	3.83%	5.07%	3.92%	5.35%	4.83%	7.68%	9.98%	8.66%	7.10%	7.35%
Debt-free Net Working Capital to Revenue	17.71%	13.40%	17.00%	16.97%	18.31%	13.78%	16.40%	19.09%	18.28%	18.05%	18.26%
Net Working Capital to Revenue	17.12%	12.77%	12.79%	16.23%	17.56%	13.03%	16.40%	19.08%	18.27%	18.04%	18.25%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.08	$1.17	$0.39	$0.11	($1.41)	($0.84)	($0.94)	($0.57)	($1.30)	($2.06)	($4.17)
Adjusted Weighted Average Basic Shares Outstanding	262.94M	262.93M	262.40M	262.38M	179.56M	179.56M	178.47M	178.45M	178.40M	178.35M	176.94M
Adjusted Diluted Earnings per Share	$2.07	$1.18	$0.38	$0.11	($1.41)	($0.84)	($0.94)	($0.57)	($1.30)	($1.95)	($4.17)
Adjusted Weighted Average Diluted Shares Outstanding	262.94M	262.93M	262.40M	262.38M	179.56M	179.56M	178.47M	178.45M	178.40M	178.35M	176.94M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	262.94M	262.93M	262.40M	262.38M	179.56M	179.56M	178.47M	178.45M	178.40M	178.35M	176.94M
Normalized Net Operating Profit after Tax (NOPAT)	574	308	144	90	-26	-50	-67	-29	34	-107	-12
Normalized NOPAT Margin	17.05%	8.85%	4.95%	3.08%	-1.00%	-1.92%	-2.56%	-1.10%	1.28%	-4.02%	-0.42%
Pre Tax Income Margin	19.83%	9.70%	6.34%	3.17%	-12.50%	-2.97%	-8.76%	-3.69%	-6.74%	-9.01%	-25.57%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	13.60	8.51	5.18	3.30	-11.04	-1.75	-7.77	-2.67	-5.92	-8.23	-28.16
NOPAT to Interest Expense	10.76	5.64	2.91	0.93	-6.20	-1.50	-3.15	-1.71	-2.69	-3.96	-18.73
EBIT Less CapEx to Interest Expense	11.85	4.78	1.86	-0.78	-14.74	-8.39	-13.35	-6.89	-9.08	-14.81	-33.24
NOPAT Less CapEx to Interest Expense	9.00	1.91	-0.41	-3.15	-9.90	-8.14	-8.73	-5.93	-5.85	-10.53	-23.81
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	15.93%	579.17%	-33.58%	-16.24%	-12.15%	-13.20%	-16.05%	-14.72%	-39.49%	1,186.84%	462.92%
Augmented Payout Ratio	15.93%	579.17%	-33.58%	-16.24%	-12.15%	-13.20%	-16.05%	-24.45%	-96.39%	2,502.63%	1,193.26%

Frequently Asked Questions About Alcoa's Financials

When does Alcoa's financial year end?

According to the most recent income statement we have on file, Alcoa's fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Alcoa's net income changed over the last 9 years?

Alcoa's net income appears to be on a downward trend, with a most recent value of $24 million in 2024, falling from -$739 million in 2015. The previous period was -$773 million in 2023. Check out Alcoa's forecast to explore projected trends and price targets.

What is Alcoa's operating income?

Alcoa's total operating income in 2024 was $536 million, based on the following breakdown:

Total Gross Profit: $1.85 billion
Total Operating Expenses: $1.32 billion

How has Alcoa revenue changed over the last 9 years?

Over the last 9 years, Alcoa's total revenue changed from $11.20 billion in 2015 to $11.90 billion in 2024, a change of 6.2%.

How much debt does Alcoa have?

Alcoa's total liabilities were at $8.91 billion at the end of 2024, a 7.2% increase from 2023, and a 81.8% increase since 2015.

How much cash does Alcoa have?

In the past 9 years, Alcoa's cash and equivalents has ranged from $557 million in 2015 to $1.81 billion in 2021, and is currently $1.14 billion as of their latest financial filing in 2024.

How has Alcoa's book value per share changed over the last 9 years?

Over the last 9 years, Alcoa's book value per share changed from 51.75 in 2015 to 19.65 in 2024, a change of -62.0%.

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This page (NYSE:AA) was last updated on 5/21/2025 by MarketBeat.com Staff

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Alcoa (AA) Financials

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Alcoa (AA) Financials

Annual Income Statements for Alcoa

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Quarterly Cash Flow Statements for Alcoa

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Quarterly Balance Sheets for Alcoa

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