Kaiser Aluminum Financials
This page shows Kaiser Aluminum (KALU) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 18 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).
Kaiser Aluminum’s earnings rebound is being absorbed by a cash-hungry operating cycle, leaving free cash flow weak.
FY2025 operating cash flow was$111.4M against capital spending of$136.9M , so the business did not self-fund its reinvestment even in its best profit year here. With inventory and receivables both rising, the margin recovery rebuilt working capital rather than turning into cash, which explains why free cash flow stayed negative.
Since FY2022, gross margin improved from
A current ratio of 3.0x and debt to equity of 1.3x say short-term liquidity is comfortable even though long-term financing remains significant. The cash balance of
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Kaiser Aluminum's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Kaiser Aluminum has an operating margin of 5.6%, meaning the company retains $6 of operating profit per $100 of revenue. This results in a moderate score of 51/100, indicating healthy but not exceptional operating efficiency. This is up from 3.7% the prior year.
Kaiser Aluminum's revenue grew 11.5% year-over-year to $3.4B, a solid pace of expansion. This earns a growth score of 49/100.
Kaiser Aluminum has elevated debt relative to equity (D/E of 1.28), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 18/100, reflecting increased financial risk.
With a current ratio of 2.95, Kaiser Aluminum holds $2.95 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 76/100.
While Kaiser Aluminum generated $111.4M in operating cash flow, capex of $136.9M consumed most of it, leaving -$25.5M in free cash flow. This results in a low score of 28/100, reflecting heavy capital investment rather than weak cash generation.
Kaiser Aluminum's ROE of 13.7% shows moderate profitability relative to equity, earning a score of 56/100. This is up from 6.3% the prior year.
Kaiser Aluminum scores 2.92, placing it in the grey zone between 1.81 and 2.99. This signals moderate financial risk that warrants monitoring.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Kaiser Aluminum passes 7 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Kaiser Aluminum generates $0.99 in operating cash flow ($111.4M OCF vs $113.0M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Kaiser Aluminum earns $3.8 in operating income for every $1 of interest expense ($188.8M vs $50.1M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.
Key Financial Metrics
Earnings & Revenue
Kaiser Aluminum generated $3.4B in revenue in fiscal year 2025. This represents an increase of 11.5% from the prior year.
Kaiser Aluminum's EBITDA was $311.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 36.2% from the prior year.
Kaiser Aluminum reported $113.0M in net income in fiscal year 2025. This represents an increase of 140.4% from the prior year.
Kaiser Aluminum earned $6.77 per diluted share (EPS) in fiscal year 2025. This represents an increase of 68.4% from the prior year.
Cash & Balance Sheet
Kaiser Aluminum generated -$25.5M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 86.1% from the prior year.
Kaiser Aluminum held $7.0M in cash against $1.1B in long-term debt as of fiscal year 2025.
Kaiser Aluminum paid $3.08 per share in dividends in fiscal year 2025. This represents an increase of 0.0% from the prior year.
Kaiser Aluminum had 16M shares outstanding in fiscal year 2025. This represents an increase of 0.7% from the prior year.
Margins & Returns
Kaiser Aluminum's gross margin was 13.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 1.3 percentage points from the prior year.
Kaiser Aluminum's operating margin was 5.6% in fiscal year 2025, reflecting core business profitability. This is up 1.9 percentage points from the prior year.
Kaiser Aluminum's net profit margin was 3.4% in fiscal year 2025, showing the share of revenue converted to profit. This is up 1.8 percentage points from the prior year.
Kaiser Aluminum's ROE was 13.7% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 7.4 percentage points from the prior year.
Capital Allocation
Kaiser Aluminum invested $10.7M in research and development in fiscal year 2025. This represents a decrease of 10.8% from the prior year.
Kaiser Aluminum invested $136.9M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 24.3% from the prior year.
KALU Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.1B+19.1% | $929.0M+10.1% | $843.5M+2.5% | $823.1M+5.9% | $777.4M+1.6% | $765.4M+2.4% | $747.7M-3.3% | $773.4M |
| Cost of Revenue | $943.2M+17.1% | $805.6M+10.5% | $728.8M+0.8% | $722.8M+7.3% | $673.4M+0.6% | $669.5M-1.0% | $676.0M+0.9% | $669.8M |
| Gross Profit | $163.6M+32.6% | $123.4M+7.6% | $114.7M+14.4% | $100.3M-3.6% | $104.0M+8.4% | $95.9M+33.8% | $71.7M-30.8% | $103.6M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Income | $97.8M+61.4% | $60.6M+24.2% | $48.8M+28.4% | $38.0M-8.2% | $41.4M+7.5% | $38.5M+191.7% | $13.2M-63.5% | $36.2M |
| Interest Expense | $14.4M+2.9% | $14.0M+12.9% | $12.4M-0.8% | $12.5M+11.6% | $11.2M+7.7% | $10.4M-2.8% | $10.7M-3.6% | $11.1M |
| Income Tax | $19.9M+30.1% | $15.3M+84.3% | $8.3M+23.9% | $6.7M-6.9% | $7.2M-17.2% | $8.7M+262.5% | $2.4M-57.9% | $5.7M |
| Net Income | $62.5M+117.8% | $28.7M-27.3% | $39.5M+70.3% | $23.2M+7.4% | $21.6M+1863.6% | $1.1M-87.5% | $8.8M-53.4% | $18.9M |
| EPS (Diluted) | $3.71 | N/A | $2.38+68.8% | $1.41+7.6% | $1.31 | N/A | $0.54-53.0% | $1.15 |
KALU Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $2.8B+8.8% | $2.6B-1.1% | $2.6B+3.2% | $2.5B+3.0% | $2.4B+1.2% | $2.4B+4.3% | $2.3B-0.2% | $2.3B |
| Current Assets | $1.5B+17.9% | $1.3B+1.4% | $1.2B+8.1% | $1.2B+5.2% | $1.1B+1.8% | $1.1B+8.0% | $994.9M-1.5% | $1.0B |
| Cash & Equivalents | $30.0M+328.6% | $7.0M-59.3% | $17.2M+31.3% | $13.1M-38.5% | $21.3M+15.8% | $18.4M-59.7% | $45.7M-35.1% | $70.4M |
| Inventory | $799.0M+10.2% | $725.2M+3.3% | $702.3M+17.9% | $595.6M+4.1% | $572.4M-4.9% | $601.9M+8.4% | $555.5M+4.3% | $532.7M |
| Accounts Receivable | $528.6M+24.9% | $423.3M+8.8% | $388.9M+2.7% | $378.7M+9.0% | $347.4M+8.7% | $319.7M-13.6% | $370.2M0.0% | $370.1M |
| Goodwill | $18.8M0.0% | $18.8M0.0% | $18.8M0.0% | $18.8M0.0% | $18.8M0.0% | $18.8M0.0% | $18.8M0.0% | $18.8M |
| Total Liabilities | $1.9B+10.0% | $1.7B-2.6% | $1.8B+2.8% | $1.7B+3.2% | $1.7B+1.0% | $1.7B+1.4% | $1.6B-0.6% | $1.7B |
| Current Liabilities | $601.9M+40.9% | $427.2M-14.7% | $500.7M+17.5% | $426.2M+4.0% | $410.0M+2.4% | $400.5M+4.8% | $382.2M-3.6% | $396.4M |
| Long-Term Debt | $1.0B-2.1% | $1.1B+1.6% | $1.0B-3.0% | $1.1B+3.2% | $1.0B0.0% | $1.0B0.0% | $1.0B0.0% | $1.0B |
| Total Equity | $877.3M+6.2% | $826.1M+2.5% | $806.1M+3.9% | $776.0M+2.5% | $756.8M+1.8% | $743.1M+1.9% | $729.4M+0.2% | $727.6M |
| Retained Earnings | $191.4M+34.3% | $142.5M+12.1% | $127.1M+26.6% | $100.4M+11.6% | $90.0M+10.7% | $81.3M+9.6% | $74.2M-5.0% | $78.1M |
KALU Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $87.9M+526.7% | -$20.6M-134.9% | $59.1M+271.7% | $15.9M-72.1% | $57.0M+31.3% | $43.4M+27.3% | $34.1M+29.7% | $26.3M |
| Capital Expenditures | $19.4M-36.4% | $30.5M+24.0% | $24.6M-43.6% | $43.6M+14.1% | $38.2M-31.8% | $56.0M+9.6% | $51.1M+16.9% | $43.7M |
| Free Cash Flow | $68.5M+234.1% | -$51.1M-248.1% | $34.5M+224.5% | -$27.7M-247.3% | $18.8M+249.2% | -$12.6M+25.9% | -$17.0M+2.3% | -$17.4M |
| Investing Cash Flow | -$19.4M-263.0% | $11.9M+252.6% | -$7.8M+82.2% | -$43.7M-14.4% | -$38.2M+31.8% | -$56.0M-24.4% | -$45.0M-3.0% | -$43.7M |
| Financing Cash Flow | -$45.4M-3142.9% | -$1.4M+97.0% | -$47.2M-343.3% | $19.4M+226.0% | -$15.4M-14.1% | -$13.5M+2.2% | -$13.8M0.0% | -$13.8M |
| Dividends Paid | $13.6M+6.3% | $12.8M0.0% | $12.8M0.0% | $12.8M-0.8% | $12.9M+1.6% | $12.7M0.0% | $12.7M0.0% | $12.7M |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
KALU Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 14.8%+1.5pp | 13.3%-0.3pp | 13.6%+1.4pp | 12.2%-1.2pp | 13.4%+0.9pp | 12.5%+2.9pp | 9.6%-3.8pp | 13.4% |
| Operating Margin | 8.8%+2.3pp | 6.5%+0.7pp | 5.8%+1.2pp | 4.6%-0.7pp | 5.3%+0.3pp | 5.0%+3.3pp | 1.8%-2.9pp | 4.7% |
| Net Margin | 5.7%+2.6pp | 3.1%-1.6pp | 4.7%+1.9pp | 2.8%+0.0pp | 2.8%+2.6pp | 0.1%-1.0pp | 1.2%-1.3pp | 2.4% |
| Return on Equity | 7.1%+3.6pp | 3.5%-1.4pp | 4.9%+1.9pp | 3.0%+0.1pp | 2.9%+2.7pp | 0.1%-1.1pp | 1.2%-1.4pp | 2.6% |
| Return on Assets | 2.2%+1.1pp | 1.1%-0.4pp | 1.5%+0.6pp | 0.9%+0.0pp | 0.9%+0.8pp | 0.1%-0.3pp | 0.4%-0.4pp | 0.8% |
| Current Ratio | 2.47-0.5 | 2.95+0.5 | 2.48-0.2 | 2.70+0.0 | 2.67-0.0 | 2.68+0.1 | 2.60+0.1 | 2.55 |
| Debt-to-Equity | 1.18-0.1 | 1.28-0.0 | 1.29-0.1 | 1.390.0 | 1.38-0.0 | 1.40-0.0 | 1.430.0 | 1.43 |
| FCF Margin | 6.2%+11.7pp | -5.5%-9.6pp | 4.1%+7.5pp | -3.4%-5.8pp | 2.4%+4.1pp | -1.7%+0.6pp | -2.3%-0.0pp | -2.3% |
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Frequently Asked Questions
What is Kaiser Aluminum's annual revenue?
Kaiser Aluminum (KALU) reported $3.4B in total revenue for fiscal year 2025. This represents a 11.5% 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 Kaiser Aluminum's revenue growing?
Kaiser Aluminum (KALU) revenue grew by 11.5% year-over-year, from $3.0B to $3.4B in fiscal year 2025.
Is Kaiser Aluminum profitable?
Yes, Kaiser Aluminum (KALU) reported a net income of $113.0M in fiscal year 2025, with a net profit margin of 3.4%.
What is Kaiser Aluminum's EBITDA?
Kaiser Aluminum (KALU) had EBITDA of $311.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Kaiser Aluminum have?
As of fiscal year 2025, Kaiser Aluminum (KALU) had $7.0M in cash and equivalents against $1.1B in long-term debt.
What is Kaiser Aluminum's gross margin?
Kaiser Aluminum (KALU) had a gross margin of 13.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Kaiser Aluminum's operating margin?
Kaiser Aluminum (KALU) had an operating margin of 5.6% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Kaiser Aluminum's net profit margin?
Kaiser Aluminum (KALU) had a net profit margin of 3.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Kaiser Aluminum pay dividends?
Yes, Kaiser Aluminum (KALU) paid $3.08 per share in dividends during fiscal year 2025.
What is Kaiser Aluminum's return on equity (ROE)?
Kaiser Aluminum (KALU) has a return on equity of 13.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Kaiser Aluminum's free cash flow?
Kaiser Aluminum (KALU) generated -$25.5M in free cash flow during fiscal year 2025. This represents a -86.1% 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 Kaiser Aluminum's operating cash flow?
Kaiser Aluminum (KALU) generated $111.4M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Kaiser Aluminum's total assets?
Kaiser Aluminum (KALU) had $2.6B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Kaiser Aluminum's capital expenditures?
Kaiser Aluminum (KALU) invested $136.9M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Kaiser Aluminum spend on research and development?
Kaiser Aluminum (KALU) invested $10.7M in research and development during fiscal year 2025.
What is Kaiser Aluminum's current ratio?
Kaiser Aluminum (KALU) had a current ratio of 2.95 as of fiscal year 2025, which is generally considered healthy.
What is Kaiser Aluminum's debt-to-equity ratio?
Kaiser Aluminum (KALU) had a debt-to-equity ratio of 1.28 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Kaiser Aluminum's return on assets (ROA)?
Kaiser Aluminum (KALU) had a return on assets of 4.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Kaiser Aluminum's Altman Z-Score?
Kaiser Aluminum (KALU) has an Altman Z-Score of 2.92, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Kaiser Aluminum's Piotroski F-Score?
Kaiser Aluminum (KALU) has a Piotroski F-Score of 7 out of 9, indicating strong 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Kaiser Aluminum's earnings high quality?
Kaiser Aluminum (KALU) has an earnings quality ratio of 0.99x, considered mixed 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.
Can Kaiser Aluminum cover its interest payments?
Kaiser Aluminum (KALU) has an interest coverage ratio of 3.8x, meaning it can adequately cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Kaiser Aluminum?
Kaiser Aluminum (KALU) scores 46 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.