What is Alcoa Corp's earnings per share (EPS)?

Alcoa Corp (AA) reported diluted earnings per share of $4.37 for fiscal year 2025. This represents a 1580.8% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Alcoa Corp Financials

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Alcoa Corp (AA) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 12 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 51/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Growth

Alcoa Corp's revenue grew 7.9% year-over-year to $12.8B, a solid pace of expansion. This earns a growth score of 46/100.

Leverage

Alcoa Corp carries a low D/E ratio of 0.40, meaning only $0.40 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 94/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Alcoa Corp's current ratio of 1.44 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 24/100, which could limit financial flexibility.

Cash Flow

Alcoa Corp has a free cash flow margin of 4.4%, earning a moderate score of 36/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns

Alcoa Corp's ROE of 18.9% shows moderate profitability relative to equity, earning a score of 53/100. This is up from 1.2% the prior year.

Piotroski F-Score Neutral

6/9

Alcoa Corp passes 6 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Cash-Backed

1.02x

For every $1 of reported earnings, Alcoa Corp generates $1.02 in operating cash flow ($1.2B OCF vs $1.2B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue

$12.8B

YoY+7.9%

5Y CAGR+6.7%

10Y CAGR+1.4%

Alcoa Corp generated $12.8B in revenue in fiscal year 2025. This represents an increase of 7.9% from the prior year.

EBITDA

N/A

Net Income

$1.2B

YoY+1828.3%

Alcoa Corp reported $1.2B in net income in fiscal year 2025. This represents an increase of 1828.3% from the prior year.

EPS (Diluted)

$4.37

YoY+1580.8%

Alcoa Corp earned $4.37 per diluted share (EPS) in fiscal year 2025. This represents an increase of 1580.8% from the prior year.

Cash & Balance Sheet

Free Cash Flow

$567.0M

YoY+1250.0%

5Y CAGR+69.1%

10Y CAGR+1.6%

Alcoa Corp generated $567.0M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 1250.0% from the prior year.

Cash & Debt

$1.6B

YoY+40.3%

5Y CAGR-0.1%

10Y CAGR+11.1%

Alcoa Corp held $1.6B in cash against $2.4B in long-term debt as of fiscal year 2025.

Dividends Per Share

$0.10

YoY+0.0%

Alcoa Corp paid $0.10 per share in dividends in fiscal year 2025. This represents an increase of 0.0% from the prior year.

Shares Outstanding

263M

YoY+1.8%

5Y CAGR+7.2%

Alcoa Corp had 263M shares outstanding in fiscal year 2025. This represents an increase of 1.8% from the prior year.

Margins & Returns

Gross Margin

16.9%

YoY+1.4pp

5Y CAGR+2.8pp

Alcoa Corp's gross margin was 16.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 1.4 percentage points from the prior year.

Operating Margin

N/A

Net Margin

9.0%

YoY+8.5pp

5Y CAGR+10.8pp

10Y CAGR+16.7pp

Alcoa Corp's net profit margin was 9.0% in fiscal year 2025, showing the share of revenue converted to profit. This is up 8.5 percentage points from the prior year.

Return on Equity

18.9%

YoY+17.8pp

5Y CAGR+24.0pp

10Y CAGR+28.0pp

Alcoa Corp's ROE was 18.9% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 17.8 percentage points from the prior year.

Capital Allocation

R&D Spending

$24.0M

YoY-57.9%

5Y CAGR-2.3%

10Y CAGR-10.0%

Alcoa Corp invested $24.0M in research and development in fiscal year 2025. This represents a decrease of 57.9% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$618.0M

YoY+6.6%

5Y CAGR+11.9%

10Y CAGR+4.7%

Alcoa Corp invested $618.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 6.6% from the prior year.

AA Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$12.8B+7.9%	$11.9B+12.7%	$10.6B-15.3%	$12.5B+2.5%	$12.2B+30.9%	$9.3B
Cost of Revenue	$10.7B+6.1%	$10.0B+2.4%	$9.8B-3.9%	$10.2B+11.6%	$9.2B+14.9%	$8.0B
Gross Profit	$2.2B+17.4%	$1.9B+150.8%	$738.0M-67.0%	$2.2B-25.3%	$3.0B+127.7%	$1.3B
R&D Expenses	$24.0M-57.9%	$57.0M+46.2%	$39.0M+21.9%	$32.0M+3.2%	$31.0M+14.8%	$27.0M
SG&A Expenses	$299.0M+8.7%	$275.0M+21.7%	$226.0M+10.8%	$204.0M-10.1%	$227.0M+10.2%	$206.0M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$158.0M+1.3%	$156.0M+45.8%	$107.0M+0.9%	$106.0M-45.6%	$195.0M+33.6%	$146.0M
Income Tax	-$55.0M-120.8%	$265.0M+40.2%	$189.0M-71.5%	$664.0M+5.6%	$629.0M+236.4%	$187.0M
Net Income	$1.2B+1828.3%	$60.0M+109.2%	-$651.0M-429.3%	-$123.0M-128.7%	$429.0M+352.4%	-$170.0M
EPS (Diluted)	$4.37+1580.8%	$0.26+107.1%	$-3.65-436.8%	$-0.68-130.1%	$2.26+348.4%	$-0.91

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Revenue	$3.4B+15.2%	$3.0B-0.8%	$3.0B-10.4%	$3.4B-3.4%	$3.5B+20.0%	$2.9B-0.1%	$2.9B+11.8%	$2.6B
Cost of Revenue	$2.9B+6.6%	$2.7B+1.6%	$2.7B+8.8%	$2.4B-10.2%	$2.7B+13.4%	$2.4B-5.5%	$2.5B+5.4%	$2.4B
Gross Profit	$576.0M+92.0%	$300.0M-18.0%	$366.0M-60.7%	$931.0M+20.6%	$772.0M+51.1%	$511.0M+37.0%	$373.0M+91.3%	$195.0M
R&D Expenses	-$11.0M-200.0%	$11.0M-8.3%	$12.0M0.0%	$12.0M-29.4%	$17.0M+6.3%	$16.0M+23.1%	$13.0M+18.2%	$11.0M
SG&A Expenses	$68.0M-12.8%	$78.0M-4.9%	$82.0M+15.5%	$71.0M-11.3%	$80.0M+21.2%	$66.0M-4.3%	$69.0M+15.0%	$60.0M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$16.0M-51.5%	$33.0M-41.1%	$56.0M+5.7%	$53.0M+17.8%	$45.0M+2.3%	$44.0M+10.0%	$40.0M+48.1%	$27.0M
Income Tax	-$134.0M-162.7%	-$51.0M-610.0%	$10.0M-91.7%	$120.0M-11.8%	$136.0M+58.1%	$86.0M+41.0%	$61.0M+438.9%	-$18.0M
Net Income	$213.0M-8.2%	$232.0M+41.5%	$164.0M-70.1%	$548.0M+171.3%	$202.0M+124.4%	$90.0M+350.0%	$20.0M+107.9%	-$252.0M
EPS (Diluted)	N/A	$0.88+41.9%	$0.62-70.0%	$2.07	N/A	$0.38+245.5%	$0.11+107.8%	$-1.41

AA Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$16.1B+14.7%	$14.1B-0.6%	$14.2B-4.1%	$14.8B-1.8%	$15.0B+1.1%	$14.9B
Current Assets	$5.5B+11.3%	$4.9B+11.6%	$4.4B-16.1%	$5.3B+4.5%	$5.0B+11.2%	$4.5B
Cash & Equivalents	$1.6B+40.3%	$1.1B+20.6%	$944.0M-30.7%	$1.4B-24.9%	$1.8B+12.9%	$1.6B
Inventory	$2.2B+9.0%	$2.0B-7.4%	$2.2B-11.1%	$2.4B+24.1%	$2.0B+39.9%	$1.4B
Accounts Receivable	$1.1B-2.9%	$1.1B+67.1%	$656.0M-15.7%	$778.0M+2.8%	$757.0M+60.7%	$471.0M
Goodwill	$0-100.0%	$142.0M-2.7%	$146.0M+0.7%	$145.0M+0.7%	$144.0M-0.7%	$145.0M
Total Liabilities	$9.9B+11.5%	$8.9B+7.2%	$8.3B+1.8%	$8.2B-6.6%	$8.7B-11.2%	$9.8B
Current Liabilities	$3.8B+12.0%	$3.4B+12.0%	$3.0B+0.9%	$3.0B-6.8%	$3.2B+16.7%	$2.8B
Long-Term Debt	$2.4B-1.3%	$2.5B+42.6%	$1.7B-4.1%	$1.8B+4.6%	$1.7B-29.9%	$2.5B
Total Equity	$6.1B+18.6%	$5.2B+21.3%	$4.3B-16.3%	$5.1B+8.6%	$4.7B+41.1%	$3.3B
Retained Earnings	-$271.0M+79.5%	-$1.3B-2.3%	-$1.3B-126.8%	-$570.0M-81.0%	-$315.0M+56.6%	-$725.0M

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Total Assets	$16.1B+1.0%	$16.0B+6.5%	$15.0B+2.9%	$14.6B+3.6%	$14.1B-3.3%	$14.5B+1.6%	$14.3B-0.1%	$14.3B
Current Assets	$5.5B+3.5%	$5.3B-2.1%	$5.4B+3.7%	$5.2B+6.0%	$4.9B+1.0%	$4.9B-0.8%	$4.9B+0.5%	$4.9B
Cash & Equivalents	$1.6B+7.5%	$1.5B-1.9%	$1.5B+26.0%	$1.2B+5.6%	$1.1B-13.3%	$1.3B-5.9%	$1.4B+2.8%	$1.4B
Inventory	$2.2B-0.6%	$2.2B-1.3%	$2.2B+1.7%	$2.2B+9.2%	$2.0B-4.7%	$2.1B+6.1%	$2.0B-3.6%	$2.0B
Accounts Receivable	$1.1B+1.8%	$1.0B+6.7%	$979.0M-18.6%	$1.2B+9.8%	$1.1B+27.1%	$862.0M-8.2%	$939.0M+8.1%	$869.0M
Goodwill	$0-100.0%	$145.0M+0.7%	$144.0M+0.7%	$143.0M+0.7%	$142.0M-1.4%	$144.0M0.0%	$144.0M-1.4%	$146.0M
Total Liabilities	$9.9B+4.2%	$9.5B+8.9%	$8.8B+1.1%	$8.7B-2.8%	$8.9B-4.1%	$9.3B+4.5%	$8.9B+1.1%	$8.8B
Current Liabilities	$3.8B+12.3%	$3.4B+3.5%	$3.3B+7.7%	$3.0B-10.5%	$3.4B-1.9%	$3.5B+9.3%	$3.2B+4.1%	$3.0B
Long-Term Debt	$2.4B-5.4%	$2.6B+0.2%	$2.6B0.0%	$2.6B+4.2%	$2.5B0.0%	$2.5B0.0%	$2.5B0.0%	$2.5B
Total Equity	$6.1B-3.6%	$6.3B+3.4%	$6.1B+5.5%	$5.8B+12.8%	$5.2B-1.8%	$5.3B+34.6%	$3.9B-2.4%	$4.0B
Retained Earnings	-$271.0M+40.8%	-$458.0M+31.0%	-$664.0M+17.1%	-$801.0M+39.5%	-$1.3B+11.7%	-$1.5B+4.1%	-$1.6B+0.1%	-$1.6B

AA Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$1.2B+90.5%	$622.0M+583.5%	$91.0M-88.9%	$822.0M-10.7%	$920.0M+133.5%	$394.0M
Capital Expenditures	$618.0M+6.6%	$580.0M+9.2%	$531.0M+10.6%	$480.0M+23.1%	$390.0M+10.5%	$353.0M
Free Cash Flow	$567.0M+1250.0%	$42.0M+109.5%	-$440.0M-228.7%	$342.0M-35.5%	$530.0M+1192.7%	$41.0M
Investing Cash Flow	-$502.0M+17.4%	-$608.0M-3.9%	-$585.0M-18.2%	-$495.0M-187.6%	$565.0M+438.3%	-$167.0M
Financing Cash Flow	-$261.0M-229.9%	$201.0M+252.6%	$57.0M+107.4%	-$768.0M+33.7%	-$1.2B-325.3%	$514.0M
Dividends Paid	$104.0M+16.9%	$89.0M+23.6%	$72.0M0.0%	$72.0M+278.9%	$19.0M	N/A
Share Buybacks	N/A	$0	$0-100.0%	$500.0M+233.3%	$150.0M	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Operating Cash Flow	$537.0M+531.8%	$85.0M-82.6%	$488.0M+550.7%	$75.0M-81.9%	$415.0M+190.2%	$143.0M-50.2%	$287.0M+228.7%	-$223.0M
Capital Expenditures	$243.0M+60.9%	$151.0M+15.3%	$131.0M+40.9%	$93.0M-45.0%	$169.0M+15.8%	$146.0M-11.0%	$164.0M+62.4%	$101.0M
Free Cash Flow	$294.0M+545.5%	-$66.0M-118.5%	$357.0M+2083.3%	-$18.0M-107.3%	$246.0M+8300.0%	-$3.0M-102.4%	$123.0M+138.0%	-$324.0M
Investing Cash Flow	-$251.0M-2181.8%	-$11.0M+91.7%	-$132.0M-22.2%	-$108.0M+37.9%	-$174.0M-13.7%	-$153.0M+6.7%	-$164.0M-40.2%	-$117.0M
Financing Cash Flow	-$166.0M-58.1%	-$105.0M-56.7%	-$67.0M-187.0%	$77.0M+119.5%	-$394.0M-369.0%	-$84.0M-12.0%	-$75.0M-109.9%	$754.0M
Dividends Paid	$26.0M0.0%	$26.0M0.0%	$26.0M0.0%	$26.0M0.0%	$26.0M0.0%	$26.0M+44.4%	$18.0M-5.3%	$19.0M
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

AA Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	16.9%+1.4pp	15.6%+8.6pp	7.0%-11.0pp	18.0%-6.7pp	24.7%+10.5pp	14.2%
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	9.0%+8.5pp	0.5%+6.7pp	-6.2%-5.2pp	-1.0%-4.5pp	3.5%+5.4pp	-1.8%
Return on Equity	18.9%+17.8pp	1.2%+16.5pp	-15.3%-12.9pp	-2.4%-11.6pp	9.2%+14.3pp	-5.1%
Return on Assets	7.2%+6.7pp	0.4%+5.0pp	-4.6%-3.8pp	-0.8%-3.7pp	2.9%+4.0pp	-1.1%
Current Ratio	1.440.0	1.450.0	1.45-0.3	1.75+0.2	1.56-0.1	1.64
Debt-to-Equity	0.40-0.1	0.48+0.1	0.41+0.1	0.36-0.0	0.37-0.4	0.74
FCF Margin	4.4%+4.1pp	0.4%+4.5pp	-4.2%-6.9pp	2.8%-1.6pp	4.4%+3.9pp	0.4%

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Gross Margin	16.7%+6.7pp	10.0%-2.1pp	12.1%-15.5pp	27.6%+5.5pp	22.1%+4.6pp	17.6%+4.8pp	12.8%+5.3pp	7.5%
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	6.2%-1.6pp	7.8%+2.3pp	5.4%-10.8pp	16.3%+10.5pp	5.8%+2.7pp	3.1%+2.4pp	0.7%+10.4pp	-9.7%
Return on Equity	3.5%-0.2pp	3.7%+1.0pp	2.7%-6.8pp	9.4%+5.5pp	3.9%+2.2pp	1.7%+1.2pp	0.5%+6.8pp	-6.3%
Return on Assets	1.3%-0.1pp	1.5%+0.4pp	1.1%-2.7pp	3.8%+2.3pp	1.4%+0.8pp	0.6%+0.5pp	0.1%+1.9pp	-1.8%
Current Ratio	1.44-0.1	1.56-0.1	1.65-0.1	1.71+0.3	1.45+0.0	1.41-0.1	1.55-0.1	1.61
Debt-to-Equity	0.400.0	0.41-0.0	0.42-0.0	0.44-0.0	0.480.0	0.47-0.2	0.63+0.0	0.62
FCF Margin	8.5%+10.7pp	-2.2%-14.0pp	11.8%+12.4pp	-0.5%-7.6pp	7.1%+7.2pp	-0.1%-4.3pp	4.2%+16.7pp	-12.5%

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Frequently Asked Questions

What is Alcoa Corp's annual revenue?

Alcoa Corp (AA) reported $12.8B in total revenue for fiscal year 2025. This represents a 7.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Alcoa Corp's revenue growing?

Alcoa Corp (AA) revenue grew by 7.9% year-over-year, from $11.9B to $12.8B in fiscal year 2025.

Is Alcoa Corp profitable?

Yes, Alcoa Corp (AA) reported a net income of $1.2B in fiscal year 2025, with a net profit margin of 9.0%.

How much debt does Alcoa Corp have?

As of fiscal year 2025, Alcoa Corp (AA) had $1.6B in cash and equivalents against $2.4B in long-term debt.

What is Alcoa Corp's gross margin?

Alcoa Corp (AA) had a gross margin of 16.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Alcoa Corp's net profit margin?

Alcoa Corp (AA) had a net profit margin of 9.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does Alcoa Corp pay dividends?

Yes, Alcoa Corp (AA) paid $0.10 per share in dividends during fiscal year 2025.

What is Alcoa Corp's return on equity (ROE)?

Alcoa Corp (AA) has a return on equity of 18.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Alcoa Corp's free cash flow?

Alcoa Corp (AA) generated $567.0M in free cash flow during fiscal year 2025. This represents a 1250.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Alcoa Corp's operating cash flow?

Alcoa Corp (AA) generated $1.2B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Alcoa Corp's total assets?

Alcoa Corp (AA) had $16.1B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Alcoa Corp's capital expenditures?

Alcoa Corp (AA) invested $618.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Alcoa Corp spend on research and development?

Alcoa Corp (AA) invested $24.0M in research and development during fiscal year 2025.

How many shares does Alcoa Corp have outstanding?

Alcoa Corp (AA) had 263M shares outstanding as of fiscal year 2025.

What is Alcoa Corp's current ratio?

Alcoa Corp (AA) had a current ratio of 1.44 as of fiscal year 2025, which is considered adequate.

What is Alcoa Corp's debt-to-equity ratio?

Alcoa Corp (AA) had a debt-to-equity ratio of 0.40 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Alcoa Corp's return on assets (ROA)?

Alcoa Corp (AA) had a return on assets of 7.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Alcoa Corp's Piotroski F-Score?

Alcoa Corp (AA) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Alcoa Corp's earnings high quality?

Alcoa Corp (AA) has an earnings quality ratio of 1.02x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Alcoa Corp?

Alcoa Corp (AA) scores 51 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.