Explain this page
Arphra AIPlain-English read on Alcoa Corporation’s valuationIncome statement
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Revenue & profit | |||||||||
| Revenue | $12.44B | $12.76B | $10.71B | $12.18B | $12.74B | $14.97B | $15.12B | $14.83B | $14.51B |
| Cost of revenue | $9.82B | $10.83B | $10.47B | $10.69B | $11.01B | $13.27B | $13.52B | $13.08B | $13.18B |
| Gross profit | $2.62B | $1.93B | $241M | $1.5B | $1.73B | $1.42B | $1.43B | $1.42B | $1.38B |
| Gross margin | +21.08% | +15.15% | +2.25% | +12.29% | +13.58% | +9.46% | +9.48% | +9.56% | +9.51% |
| Operating | |||||||||
| Research & development | $31M | $32M | $39M | $57M | $24M | $51.25M | $51.83M | $49.93M | $50.56M |
| Selling, general & administrative | $227M | $204M | $226M | $275M | $299M | $330.11M | $337.67M | $330.64M | $322.88M |
| Total operating expenses | $258M | $236M | $265M | $332M | $758M | $558.42M | $546.98M | $551.86M | $554.57M |
| Operating income | $2.36B | $1.7B | -$24M | $1.17B | $971M | $830.67M | $850.9M | $831.38M | $802.58M |
| Operating margin | +19.01% | +13.30% | -0.22% | +9.57% | +7.62% | +5.55% | +5.63% | +5.60% | +5.53% |
| EBITDA | $2.06B | $1.43B | $155M | $1.09B | $1.86B | $1.28B | $1.27B | $1.2B | $1.24B |
| EBIT | $1.39B | $808M | -$477M | $445M | $1.24B | $443.44M | $451.71M | $439.66M | $426.78M |
| Below the line | |||||||||
| Interest expense | $195M | $106M | $107M | $156M | $158M | $170.92M | $181.32M | $173.93M | $166.95M |
| Interest income | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other income / expense | -$1.17B | -$995M | -$560M | -$877M | $112M | — | — | — | — |
| Pre-tax income | $1.2B | $702M | -$584M | $289M | $1.08B | $267.69M | $269.99M | $268.12M | $264.35M |
| Income tax expense | $629M | $664M | $189M | $265M | -$49M | -$12.56M | -$12.18M | -$12.23M | -$11.89M |
| Earnings | |||||||||
| Net income | $429M | -$123M | -$651M | $60M | $1.15B | $167.14M | $175.44M | $173.02M | $163.35M |
| Net income · continuing ops | $570M | $38M | -$773M | $24M | $1.13B | $92.54M | $94.79M | $94.69M | $90.2M |
| Net margin | +3.45% | -0.96% | -6.08% | +0.49% | +9.01% | +1.12% | +1.16% | +1.17% | +1.13% |
| EPS · basic | $2.30 | $-0.57 | $-3.65 | $0.28 | $4.47 | $7.26 | $7.12 | $7.36 | $0.00 |
| EPS · diluted | $2.26 | $-0.57 | $-3.65 | $0.28 | $4.44 | $7.20 | $7.05 | $7.23 | $0.00 |
| EPS · low estimate | — | — | — | — | — | $5.43 | $4.74 | $3.59 | $0.00 |
| EPS · high estimate | — | — | — | — | — | $8.07 | $9.08 | $10.58 | $0.00 |
| Shares · basic | 186M | 181M | 178M | 212.42M | 260.93M | 259.72M | 261.27M | 260.67M | 263.07M |
| Shares · diluted | 190M | 181M | 178M | 214.05M | 263.3M | 265.01M | 265.41M | 261.28M | 262.54M |
| Coverage | |||||||||
| Analysts (revenue) | — | — | — | — | — | 9 | 9 | 9 | 4 |
| Analysts (EPS) | — | — | — | — | — | 8 | 9 | 6 | 4 |
Coverage notes. Historical figures come’s as-reported income statements / balance sheets / cash flows in our data warehouse. Forecast columns (italicised, faint accent tint) carry vendor-supplied numbers where available (revenue + EPS consensus) and ratio-derived values for every other line. Margins / ratios are the trailing-3y average from history applied to the forecast revenue; values are clamped to enforce P&L identity (gross ≥ operating, EBITDA ≥ operating, net ≤ operating) and balance-sheet identity (assets = liabilities + equity by construction). Cash-flow FCF reconciles to OCF + CapEx. USD conversion uses the period-end close of the issuer's reported/USD pair from forex_prices_daily; share counts stay unconverted.
Financials
Full income statement, balance sheet, and cash-flow history is included with Pro.
Upgrade to Pro