Metrics
The numbers behind Alcoa Corporation: as-reported financial statements and company metrics for FY2021–FY2025, traced to the source filings, opened with the share-price history those statements have to justify. Every linked figure opens the exact page of the filing it was printed on, with the statement row highlighted. Amounts in US$ millions unless noted.
Reading notes: All figures are in US$ millions as printed in Alcoa's Form 10-K statements ('in millions, except per-share amounts'); per-share amounts, production volumes and realized prices are as printed and are exempt from that scale. FY2021-FY2025 statement figures are each taken from that year's own Form 10-K, where the year is the left-hand column. FY2016-FY2018 long-term figures come from the standardized data feed (SEC XBRL) and carry no page links; FY2019-FY2020 are linked to the comparative columns of the FY2021 Form 10-K. The Sales by product division table labels the largest division 'Primary aluminum' in the FY2021-FY2023 Forms 10-K and 'Aluminum' from the FY2024 Form 10-K onward; the row is shown as 'Aluminum' and each year's quote preserves the label as printed. Flat-rolled aluminum represented the Warrick Rolling Mill, sold in March 2021; the line is printed as a dash from FY2022 and is dropped from the table entirely in the FY2024 and FY2025 Forms 10-K, so those cells are left blank.
Share Price — Full Available History — 37 Years
The stock closed at $45.26 on Jul 31, 2026 — up 609% over the window shown (+5.5% a year), trading between $4.27 and $255.92. At that close the stock trades at 10× FY2025 diluted EPS as reported below.
Source: market price feed, monthly closes, sampled from 9,213 source observations, Jan 1990–Jul 2026. Price return only, excludes dividends. Prices are split-adjusted (1:2 on Feb 27, 1995; 1:2 on Feb 26, 1999; 1:2 on Jun 12, 2000; ×0.333333 on Oct 06, 2016; ×1.24844 on Nov 01, 2016).
Market capitalization $11.8bn and enterprise value $12.7bn.
Market cap = 261.0M shares outstanding × the Jul 31, 2026 close of $45.26. Enterprise value adds total debt of $2.4bn and subtracts cash and equivalents of $1.6bn (net debt of $842mn), from the FY2025 balance sheet. Market-derived figures, shown without filing links.
FY2025 at a Glance
Net income (US$ millions)
Diluted EPS
Source: FY2025 consolidated statements [1] [2] [3] [4]. Click any linked figure to open the filing page with the row highlighted.
Sales by Product Division
| Sales by Product Division | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Aluminum | 8,420 | 8,887 | 7,045 | 7,359 | 8,515 |
| Alumina | 3,125 | 3,478 | 3,103 | 4,246 | 3,662 |
| Bauxite | 207 | 168 | 466 | 376 | 727 |
| Energy | 286 | 201 | 118 | 147 | 190 |
| Flat-rolled aluminum | 320 | 0 | 0 | — | — |
| Other | (206) | (283) | (181) | (233) | (263) |
| Total sales | 12,152 | 12,451 | 10,551 | 11,895 | 12,831 |
Source: Form 10-K Note E — Segment and Geographic Area Information, Sales by product division; total agrees to the Statement of Consolidated Operations [5] [1] [6] [2]. Click any linked figure to open the filing page with the row highlighted.
Segment Adjusted EBITDA
| Segment Adjusted EBITDA | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Alumina | — | 788 | 273 | 1,408 | 882 |
| Aluminum | — | 1,492 | 461 | 657 | 1,058 |
| Total Segment Adjusted EBITDA | — | 2,280 | 734 | 2,065 | 1,940 |
Source: Form 10-K Note E — reportable segment operating results (Alumina and Aluminum). FY2022 is the recast two-segment presentation from the FY2024 Form 10-K; FY2021 predates the recast and is not shown [7] [8]. Click any linked figure to open the filing page with the row highlighted.
Income Statement
Source: Statement of Consolidated Operations [1] [2] [3] [4]. Click any linked figure to open the filing page with the row highlighted.
Columns marked E are consensus analyst estimates from S&P Capital IQ (CapIQ), shown alongside reported results for direct comparison; they are not company guidance.
Estimate source: S&P Capital IQ (CapIQ) consensus, as of 2026-08-03. Estimate figures are S&P Capital IQ consensus (vendor data — no filing page links). EPS and net income use the normalized (adjusted) consensus where the street reports it. Line-item analyst models (segments, drivers, KPIs) are in the Visible Alpha tab.
Balance Sheet
Source: Consolidated Balance Sheet [9] [10] [11] [12]. Click any linked figure to open the filing page with the row highlighted.
Cash Flow
Source: Statement of Consolidated Cash Flow [13] [14] [15] [16]. Click any linked figure to open the filing page with the row highlighted.
Long-Term Record
| Fiscal year | Sales | Net income (loss) attributable to Alcoa Corporation | Diluted earnings per share | Cash provided from operations | Capital expenditures |
|---|---|---|---|---|---|
| FY2016 | 9,318 | (400) | (2.19) | (311) | (404) |
| FY2017 | 11,652 | 279 | 1.49 | 1,224 | (405) |
| FY2018 | 13,403 | 250 | 1.33 | 448 | (399) |
| FY2019 | 10,433 | (1,125) | (6.07) | 686 | (379) |
| FY2020 | 9,286 | (170) | (0.91) | 394 | (353) |
| FY2021 | 12,152 | 429 | 2.26 | 920 | (390) |
| FY2022 | 12,451 | (123) | (0.68) | 822 | (480) |
| FY2023 | 10,551 | (651) | (3.65) | 91 | (531) |
| FY2024 | 11,895 | 60 | 0.26 | 622 | (580) |
| FY2025 | 12,831 | 1,157 | 4.37 | 1,185 | (618) |
Source: consolidated statements across filings; older years from the standardized feed [13] [1] [14] [2]. Click any linked figure to open the filing page with the row highlighted.
Operating KPIs
| KPI | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Bauxite production (mdmt) | 47.6 | 42.1 | 41.0 | 38.3 | 37.5 |
| Alumina production (kmt) | 13,259 | 12,544 | 10,908 | 10,034 | 9,640 |
| Aluminum production (kmt) | 2,193 | 2,010 | 2,114 | 2,215 | 2,319 |
| Average realized third-party price per metric ton of alumina (US$) | 326 | 384 | 358 | 472 | 415 |
| Average realized third-party price per metric ton of aluminum (US$) | 2,879 | 3,457 | 2,828 | 2,841 | 3,376 |
Source: company-reported operating metrics [17] [18] [19] [20]. Click any linked figure to open the filing page with the row highlighted.
Analyst Consensus
Mean target
Median target
High target
Low target
Street ratings: 7 strong buy, 5 hold, 1 sell. Consensus: Buy.
Estimate source: S&P Capital IQ (CapIQ) consensus, as of 2026-08-03. Estimate figures are S&P Capital IQ consensus (vendor data — no filing page links). EPS and net income use the normalized (adjusted) consensus where the street reports it. Line-item analyst models (segments, drivers, KPIs) are in the Visible Alpha tab.
Traceability
409 of 426 figures on this page (96%) link to the filing page where they are printed — click a linked figure to open the source PDF at that page with the row highlighted. Unlinked figures come from standardized data feeds or pre-filing years.
All figures are in US$ millions as printed in Alcoa's Form 10-K statements ('in millions, except per-share amounts'); per-share amounts, production volumes and realized prices are as printed and are exempt from that scale.
FY2021-FY2025 statement figures are each taken from that year's own Form 10-K, where the year is the left-hand column. FY2016-FY2018 long-term figures come from the standardized data feed (SEC XBRL) and carry no page links; FY2019-FY2020 are linked to the comparative columns of the FY2021 Form 10-K.
The Sales by product division table labels the largest division 'Primary aluminum' in the FY2021-FY2023 Forms 10-K and 'Aluminum' from the FY2024 Form 10-K onward; the row is shown as 'Aluminum' and each year's quote preserves the label as printed.
Flat-rolled aluminum represented the Warrick Rolling Mill, sold in March 2021; the line is printed as a dash from FY2022 and is dropped from the table entirely in the FY2024 and FY2025 Forms 10-K, so those cells are left blank.
Alcoa moved from three reportable segments (Bauxite, Alumina, Aluminum) to two (Alumina, Aluminum) in the FY2024 Form 10-K, which recast FY2022 and FY2023. Segment Adjusted EBITDA is therefore shown on the two-segment basis from FY2022; FY2021 is not restated in any filing in this corpus and is left blank.
Balance sheet: the FY2024 acquisition of Alumina Limited eliminated the AWAC noncontrolling interest, and from the FY2025 Form 10-K the remaining noncontrolling interest is classified in mezzanine equity, so 'Total equity' for FY2025 is Alcoa shareholders' equity only and is not directly comparable with FY2021-FY2023.
The FY2025 Form 10-K cash flow statement no longer prints a 'Repurchase of common stock' line (no buybacks since 2022), so that cell is blank rather than zero.
Bauxite production for FY2021 and FY2022 is the Bauxite segment's Production (mdmt) as printed in those Forms 10-K; from FY2023 it is printed as 'Bauxite production (mdmt)' inside the Alumina segment table. The measure is the same mine production figure.
Quarterly cash flows are derived from printed year-to-date statements and reconcile exactly to the single-quarter figures Alcoa prints in its free cash flow reconciliation slides (1Q25 75, 2Q25 488, 3Q25 85, 4Q25 537, 1Q26 (179), 2Q26 608) and to data/financials/cash_flow_quarterly.json.
3 figure(s) differed between the data feed and the filing; the filing value is shown (see the run's metrics/metrics_tab.json for the audit trail).