# Alcoa Corporation (AA) — Stock CV

Alcoa Corporation is a $11.2B industrial company. Revenue grew 6.5% over the last year, it keeps 9¢ of every dollar of sales as profit, and its net debt equals ~2.4 years of free cash flow. It trades at 8.7× earnings — near the lowest of its own history.

> Alcoa is a vertically integrated aluminum company whose operations include bauxite mining, alumina refining, and manufacturing primary aluminum.

## Identity

- **Ticker**: AA
- **Sector**: Industrials
- **Industry**: Primary Production Of Aluminum
- **Headquarters**: PITTSBURGH, PA
- **Employees**: 14 900
- **Website**: https://www.alcoa.com
- **Market cap**: $11.2B
- **Last price**: $42.25
- **Financial profile**: Solid

## Vitals (TTM)

- **Revenue**: $13.6B
- **Net income**: $1.28B
- **Free cash flow**: $352M
- **Net debt**: $842M
- **P/E**: 8.7
- **Revenue growth (YoY)**: 6.5%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 82 |
| Growth | 43 |
| Profitability | 58 |
| Health | 58 |
| Quality | 70 |
| Moat | 37 |

## Qualifications (beginner checklist) — 9 of 11 passed

- [x] Revenue growing — +6.5% YoY
- [x] Profitable — $1.28B TTM
- [x] Profit growing — +1828.3% YoY
- [x] Generates cash — $352M TTM
- [x] Debt under control — ~2.4y of cash flow to repay
- [x] Established company — $11.2B market cap
- [ ] Not printing shares — +54.8% shares over ~5y
- [x] Proven track record — 5/10 profitable years
- [ ] Financially stable — Altman Z 1.6 — distress
- [x] Pays a dividend — yield 0.94%
- [x] Valuation not extreme — P/E 8.7

## Experience (career milestones)

- **FY2025** — Best year on record: $1.16B net income
- **FY2017** — Turned profitable: $217M net income after a loss year
- **FY2017** — Revenue crossed $10B: $11.7B for the year
- **FY2016** — Revenue already above $1B: $9.32B in first reported year
- **2007** — Alcoa Inc. made a US$27 billion hostile takeover bid for Alcan
- **2005** — Alcoa acquired two production facilities in Russia, at Samara and Belaya Kalitva
- **2001** — Alcoa purchased an 8% stake of Aluminum Corporation of China (Chalco) in 2001
- **2000** — Alcoa acquired Reynolds Metals Co. in an all-share deal for $4.5 billion
- **1998** — Alcoa acquired Alumax in a cash and share deal for $2.8 billion
- **1988** — The Jamaican government gained a 50% share in the subsidiary and renamed the operation to Jamalco, Alcoa…
- **1925** — The Northern Aluminum Company in Quebec was renamed the Aluminum Company of Canada (ALCAN) in 1925
- **1907** — The company changed its name to the Aluminum Company of America in 1907
- **1888** — Alcoa was founded in 1888 by Charles Martin Hall with the financial backing of Alfred E
- **1888** — Their first commercial aluminum pour was on Thanksgiving Day in 1888

## Strengths

- High returns on invested capital (ROIC 18.4%)
- Piotroski F-Score 7/9 — fundamentally strong checklist

## Watch-outs

- Altman Z-Score 1.59 — elevated financial-distress risk
- Loss-making in 5 of the recent years

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $12.2B | $429M | $530M |
| FY2022 | $12.5B | -$123M | $342M |
| FY2023 | $10.6B | -$651M | -$440M |
| FY2024 | $11.9B | $60.0M | $42.0M |
| FY2025 | $12.8B | $1.16B | $567M |

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Source: https://stockcv.com/AA — derived from company filings; may be delayed or incomplete. Information, not investment advice.