Explain this page
Arphra AIPlain-English read on Alcoa Corporation’s valuationRatios & metrics
Profitability, returns on capital, growth, and credit — all derived from the historical income statement, balance sheet, and cash flow rows in our data warehouse.
Quality composite
CMixed
A snapshot of the latest fiscal year’s margins, returns on capital, balance-sheet strength and efficiency, computed from the income statement, balance sheet and cash-flow rows. Source income / balance / cash_flow.
Profitability
Gross margin13.6%
Operating margin7.6%
Net margin9.0%
ROE18.5%
ROA7.1%
ROIC14.0%
Liquidity & leverage
Current ratio1.44×
Quick ratio0.87×
Debt / equity0.44×
Net debt / EBITDA0.57×
Interest coverage6×
Efficiency & per-share
Asset turnover0.79×
Inventory days72
Days sales out.36
FCF / share$2.15
Book value / share$23.52
Valuation multiples
Price- and EV-based multiples plus shareholder yields. Snapshot at each fiscal year-end from key_metrics (FMP).
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Headline | |||||||||
| Market cap | — | — | — | $8.03B | $13.87B | — | — | — | — |
| Enterprise value | — | — | — | $9.71B | $14.92B | — | — | — | — |
| Multiples | |||||||||
| P / E | — | — | — | — | — | — | — | — | — |
| P / B | — | — | — | — | — | — | — | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | — | — |
| EV / Sales | — | — | — | 0.80 | 1.17 | — | — | — | — |
| EV / FCF | — | — | — | 231.08 | 26.32 | — | — | — | — |
| Yields | |||||||||
| Earnings yield | — | — | — | +0.75% | +8.28% | — | — | — | — |
| Free cash flow yield | — | — | — | +0.52% | +4.09% | — | — | — | — |
| Dividend yield | — | — | — | — | — | — | — | — | — |
Profitability
Margin structure across the last 5 fiscal years
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Margins | |||||||||
| Gross margin | +21.08% | +15.15% | +2.25% | +12.29% | +13.58% | +9.46% | +9.48% | +9.56% | +9.51% |
| Operating margin | +19.01% | +13.30% | -0.22% | +9.57% | +7.62% | +5.55% | +5.63% | +5.60% | +5.53% |
| EBITDA margin | +16.55% | +11.17% | +1.45% | +8.92% | +14.64% | +8.55% | +8.42% | +8.10% | +8.57% |
| EBIT margin | +11.21% | +6.33% | -4.46% | +3.65% | +9.74% | +2.96% | +2.99% | +2.96% | +2.94% |
| Pre-tax margin | +9.64% | +5.50% | -5.45% | +2.37% | +8.50% | +1.79% | +1.79% | +1.81% | +1.82% |
| Net margin | +3.45% | -0.96% | -6.08% | +0.49% | +9.01% | +1.12% | +1.16% | +1.17% | +1.13% |
| Cost structure | |||||||||
| Cost of revenue / sales | +78.92% | +84.85% | +97.75% | +87.71% | +86.42% | +88.60% | +89.45% | +88.18% | +90.86% |
| R&D intensity | +0.25% | +0.25% | +0.36% | +0.47% | +0.19% | +0.34% | +0.34% | +0.34% | +0.35% |
| SG&A intensity | +1.83% | +1.60% | +2.11% | +2.26% | +2.35% | +2.20% | +2.23% | +2.23% | +2.23% |
| Effective tax rate | +52.46% | +94.59% | — | +91.70% | -4.52% | -4.69% | -4.51% | -4.56% | -4.50% |
Returns on capital
ROE / ROA / ROC / ROIC over the relevant capital base, plus the 3-step DuPont decomposition of ROE.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Returns | |||||||||
| Return on equity (ROE) | +6.83% | -1.87% | -11.14% | +1.16% | +18.53% | +2.34% | +2.40% | +2.41% | +2.27% |
| Return on assets (ROA) | +2.86% | -0.83% | -4.60% | +0.43% | +7.12% | +0.90% | +0.94% | +0.93% | +0.91% |
| Return on capital (ROC) | +29.01% | +20.07% | -0.31% | +14.62% | +10.86% | +8.10% | +8.11% | +8.06% | +7.88% |
| Return on invested capital (ROIC) | +5.26% | +15.05% | -0.23% | +0.75% | +12.84% | +1.63% | +1.67% | +1.68% | +1.60% |
| Asset turnover | +82.78% | +86.49% | +75.63% | +86.63% | +78.96% | +80.46% | +81.00% | +79.99% | +80.83% |
| DuPont · ROE decomposition | |||||||||
| Net margin | +3.45% | -0.96% | -6.08% | +0.49% | +9.01% | +1.12% | +1.16% | +1.17% | +1.13% |
| Asset turnover (× revenue / assets) | +82.78% | +86.49% | +75.63% | +86.63% | +78.96% | +80.46% | +81.00% | +79.99% | +80.83% |
| Equity multiplier (× assets / equity) | +239.10% | +223.95% | +242.17% | +272.72% | +260.40% | +260.84% | +255.11% | +258.65% | +249.10% |
Activity & efficiency
Turnover ratios and days-outstanding — how efficiently the business converts assets and working capital into sales and cash.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Turnover | |||||||||
| Asset turnover | 0.83 | 0.86 | 0.76 | 0.87 | 0.79 | 0.80 | 0.81 | 0.80 | 0.81 |
| Fixed-asset turnover | 1.88 | 1.97 | 1.58 | 1.91 | 1.90 | — | — | — | — |
| Inventory turnover | 5.02 | 4.46 | 4.85 | 5.35 | 5.06 | — | — | — | — |
| Receivables turnover | 14.07 | 14.04 | 13.25 | 9.83 | 10.04 | — | — | — | — |
| Payables turnover | 5.86 | 6.16 | 6.11 | 5.92 | 5.68 | — | — | — | — |
| Days outstanding | |||||||||
| Days sales outstanding (DSO) | 25.94 | 26.00 | 27.55 | 37.12 | 36.34 | — | — | — | — |
| Days inventory outstanding (DIO) | 72.74 | 81.80 | 75.27 | 68.25 | 72.19 | — | — | — | — |
| Days payables outstanding (DPO) | 62.25 | 59.22 | 59.78 | 61.65 | 64.27 | — | — | — | — |
| Cash conversion cycle | 36.43 | 48.58 | 43.03 | 43.71 | 44.26 | — | — | — | — |
Cash flow quality
How well reported earnings translate into operating and free cash flow, plus reinvestment intensity.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Operating CF / Net income | 2.14 | -6.68 | -0.14 | 10.37 | 1.03 | 4.59 | 4.45 | 4.46 | 4.57 |
| FCF / Net income | 1.24 | -2.78 | 0.68 | 0.70 | 0.49 | 0.21 | 0.20 | 0.20 | 0.20 |
| FCF margin | +4.26% | +2.68% | -4.11% | +0.34% | +4.45% | +0.23% | +0.23% | +0.23% | +0.23% |
| OCF margin | +7.40% | +6.44% | +0.85% | +5.11% | +9.30% | +5.12% | +5.16% | +5.20% | +5.14% |
| CapEx / Revenue | +3.14% | +3.76% | +4.96% | +4.76% | +4.85% | +4.88% | +4.98% | +4.73% | +4.81% |
| CapEx / D&A | 0.59 | 0.78 | 0.84 | 0.90 | 0.99 | — | — | — | — |
| Stock-based comp / Revenue | +0.31% | +0.31% | +0.33% | +0.30% | +0.32% | — | — | — | — |
Per-share & shareholder yield
EPS, book value, sales, cash flow and dividends per share — plus payout / retention.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| EPS · diluted | 2.26 | -0.57 | -3.65 | 0.28 | 4.44 | 7.81 | 7.85 | 8.18 | 0.00 |
| EPS · basic | 2.30 | -0.57 | -3.65 | 0.28 | 4.47 | 7.87 | 7.94 | 8.31 | 0.00 |
| Book value / share | 33.07 | 36.40 | 32.84 | 24.09 | 23.52 | 27.43 | 28.24 | 27.75 | 27.95 |
| Tangible BV / share | 32.13 | 35.44 | 31.81 | 23.26 | 23.40 | 27.43 | 28.24 | 27.75 | 27.95 |
| Sales / share | 65.46 | 70.51 | 60.15 | 56.92 | 48.37 | 57.57 | 58.36 | 57.41 | 56.28 |
| Operating CF / share | 4.84 | 4.54 | 0.51 | 2.91 | 4.50 | 2.95 | 3.01 | 2.99 | 2.90 |
| Free cash flow / share | 2.79 | 1.89 | -2.47 | 0.20 | 2.15 | 0.13 | 0.13 | 0.13 | 0.13 |
| Dividends / share | 0.10 | 0.40 | 0.40 | 0.42 | 0.39 | 0.43 | 0.44 | 0.43 | 0.42 |
| Payout ratio | +4.43% | -58.54% | -11.06% | +148.33% | +9.06% | +66.68% | +65.24% | +64.73% | +65.62% |
| Retention ratio | +95.57% | +158.54% | +111.06% | -48.33% | +90.94% | +33.32% | +34.76% | +35.27% | +34.38% |
Growth
Year-over-year change for headline P&L lines, plus through-cycle CAGR
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E | 8y CAGR |
|---|---|---|---|---|---|---|---|---|---|---|
| Top-line | ||||||||||
| Revenue · YoY | — | +2.61% | -16.11% | +13.81% | +4.53% | +19.79% | +1.52% | -3.15% | -1.49% | +2.18% |
| Gross profit · YoY | — | -26.28% | -87.53% | +521.58% | +15.42% | -16.49% | +1.65% | -2.27% | -2.09% | -7.51% |
| Profit | ||||||||||
| Operating income · YoY | — | -28.21% | -101.41% | +4958.33% | -16.72% | -12.83% | +3.02% | -3.57% | -2.76% | -12.43% |
| EBITDA · YoY | — | -30.76% | -89.12% | +601.29% | +71.48% | -29.99% | -0.11% | -6.85% | +4.27% | -5.89% |
| Net income · YoY | — | -128.67% | -429.27% | +109.22% | +1813.33% | -85.17% | +5.56% | -2.67% | -4.90% | -11.16% |
| Operating | ||||||||||
| EBIT · YoY | — | -42.04% | -159.03% | +193.29% | +178.88% | -63.59% | +2.44% | -3.94% | -2.22% | -13.55% |
| R&D · YoY | — | +3.23% | +21.88% | +46.15% | -57.89% | +117.58% | +1.72% | -4.94% | +1.99% | +6.55% |
| Per-share | ||||||||||
| EPS · diluted · YoY | — | -125.22% | -540.35% | +107.67% | +1485.71% | +75.87% | +0.58% | +4.10% | -100.00% | — |
| EPS · basic · YoY | — | -124.78% | -540.35% | +107.67% | +1496.43% | +76.13% | +0.80% | +4.76% | -100.00% | — |
Credit & leverage
Balance-sheet health + interest coverage + liquidity. Coverage ratios use period-end debt and trailing interest expense.
ActualEstimate
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Leverage | |||||||||
| Total debt | $1.87B | $1.87B | $1.97B | $2.82B | $2.75B | $3.17B | $3.26B | $3.18B | $3.03B |
| Net debt | $52M | $503M | $1.03B | $1.68B | $1.06B | $1.61B | $1.62B | $1.61B | $1.46B |
| Net debt / EBITDA | 0.03 | 0.35 | 6.63 | 1.55 | 0.57 | 1.23 | 1.24 | 1.33 | 1.16 |
| Debt / equity | 0.30 | 0.28 | 0.34 | 0.55 | 0.44 | 0.44 | 0.43 | 0.44 | 0.41 |
| Debt / assets | +12.42% | +12.65% | +13.92% | +20.04% | +17.03% | +16.74% | +17.04% | +16.93% | +16.57% |
| Equity / assets | +41.82% | +44.65% | +41.29% | +36.67% | +38.40% | +38.34% | +39.20% | +38.66% | +40.14% |
| Coverage | |||||||||
| EBITDA / interest expense | 10.55 | 13.44 | 1.45 | 6.97 | 11.80 | 7.49 | 7.02 | 6.90 | 7.45 |
| Operating income / interest | 12.12 | 16.01 | -0.22 | 7.47 | 6.15 | 4.86 | 4.69 | 4.78 | 4.81 |
| Interest expense | $195M | $106M | $107M | $156M | $158M | $174.15M | $185.8M | $175.89M | $170.07M |
| Liquidity | |||||||||
| Current ratio | 1.56 | 1.75 | 1.45 | 1.45 | 1.44 | — | — | — | — |
| Quick ratio | 0.84 | 0.76 | 0.58 | 0.70 | 0.79 | — | — | — | — |
| Cash ratio | 0.56 | 0.45 | 0.31 | 0.34 | 0.45 | — | — | — | — |
| Working capital | $1.8B | $2.25B | $1.38B | $1.52B | $1.67B | — | — | — | — |
| Working capital / revenue | +14.50% | +17.60% | +12.84% | +12.47% | +13.10% | — | — | — | — |
Sourced from key_metrics + financial_ratios (loaded by load_fundamentals_extended.py).
Valuation
| Metric | FY 2025 | FY 2024 |
|---|---|---|
| P / E | — | — |
| P / B | — | — |
| EV / EBITDA | — | — |
| EV / Sales | 1.17x | 0.80x |
| Earnings yield | 8.3% | 0.7% |
| FCF yield | 4.1% | 0.5% |
Returns
| Metric | FY 2025 | FY 2024 |
|---|---|---|
| Gross margin | — | — |
| Operating margin | — | — |
| Net margin | — | — |
| ROE | 18.8% | 1.2% |
| ROA | 7.1% | 0.4% |
| ROIC | 7.8% | 0.9% |
Leverage & liquidity
| Metric | FY 2025 | FY 2024 |
|---|---|---|
| Debt / equity | — | — |
| Net debt / EBITDA | 0.57 | 1.55 |
| Interest coverage | — | — |
| Current ratio | 1.44x | 1.45x |
| Quick ratio | — | — |
Methodology. ROE / ROA / ROC use period-end balance-sheet denominators (no average-of- period smoothing). ROIC = Operating Income × (1 − inferred effective tax rate) over invested capital, with the effective tax inferred from net-to-operating income when both are positive and a 25% default otherwise. Net debt / EBITDA, debt ratios, and interest-coverage ratios are calculated point-in-time at each fiscal year-end. TTM = trailing 4 quarters (income / cash flow summed, balance sheet = most-recent quarterly snapshot). Through-cycle CAGR in the Growth panel uses the geometric mean of first-to-last period growth across the window (positive values only).