Alcoa (AA) Stock Analysis

November 11, 2026

This is a peer-relative look at Alcoa (AA): its performance, risk, profitability, growth, financial strength, dividend, and valuation are each measured against its Materials peers, so every number reads in context rather than in isolation.

Company Profile

Company profile fields for Alcoa (AA)
Profile Item	AA
Name	Alcoa Corporation
Country/Region	United States
GICS Sector	Materials
GICS Industry Group	Materials
GICS Industry	Metals & Mining
GICS Sub-Industry	Aluminum
Market Capitalization	10.44 billion USD
Currency	USD
Exchange	NYSE
Listing Date	January 2, 1962
Security Type	Common Stock

Price Performance

Cumulative Growth

GSPC

Alcoa (AA) vs. S&P 500 (GSPC): Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for Alcoa (AA) and S&P 500 (GSPC). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Alcoa (AA) and S&P 500 (GSPC). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Alcoa (AA) metric values compared with Materials industry-group medians
Metric	Current stock: AA	Industry group median
Total Return (1Y)	12.55%	19.59%
Total Return (3Y, Annualized)	20.53%	18.91%
Total Return (5Y, Annualized)	-1.46%	5.70%

Risk Profile

Drawdown History

GSPC

Alcoa (AA) vs. S&P 500 (GSPC): Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for Alcoa (AA) and S&P 500 (GSPC). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Alcoa (AA) metric values compared with Materials industry-group medians
Metric	Current stock: AA	Industry group median
Volatility (1Y, Annualized)	53.37%	52.82%
Beta (5Y)	1.80	0.97
Max Drawdown (5Y)	-75.46%	-58.44%

Risk-Adjusted Performance

Risk-Return Positioning

Each dot is a stock plotted by 1-year volatility (risk) and 1-year return. AA is highlighted; the dashed line is the Capital Allocation Line from the risk-free rate through the industry median — dots above it are stronger on a risk-adjusted basis.

Risk-Adjusted Metrics

Alcoa (AA) metric values compared with Materials industry-group medians
Metric	Current stock: AA	Industry group median
Sharpe Ratio (1Y)	0.16	0.32
Sortino Ratio (1Y)	0.23	0.47

Profitability

ROE (TTM)

Alcoa (AA) posts ROE of 20.58%, in the upper peer quartile. That suggests the company earns more from each dollar of shareholders’ equity than most industry peers, a useful capital-efficiency signal.

AA

Materials industry group

20.58%

Group distribution

Max: 52.88%
AA: 20.58%
Q3: 19.49%
Median: 8.76%
Q1: -3.41%
Min: -32.81%

Largest peers

SCCO: 52.88%
NEM: 27.26%
BHP: 24.00%
AEM: 23.24%
AA: 20.58%
RIO: 19.31%
LIN: 17.72%

Where Alcoa (AA) stands on ROE within its Materials peer group — the box is the group’s distribution and the dots its largest members.

Net Margin (TTM)

Alcoa (AA) keeps 10.68% of revenue as net profit, roughly in line with the peer group’s normal net margin range. Its full cost stack is taking a typical share of sales for the industry.

AA

Materials industry group

10.68%

Group distribution

Max: 38.66%
Q3: 15.98%
AA: 10.68%
Median: 5.28%
Q1: 0.00%
Min: -20.40%

Largest peers

AEM: 41.01%
SCCO: 37.16%
NEM: 34.73%
RIO: 19.59%
LIN: 19.34%
BHP: 16.73%
AA: 10.68%

Where Alcoa (AA) stands on net margin within its Materials peer group — the box is the group’s distribution and the dots its largest members.

Operating Margin (TTM)

Alcoa (AA) turns 16.01% of revenue into operating profit, roughly in line with the peer group’s normal operating margin range. Its core cost structure looks typical for the industry.

AA

Materials industry group

16.01%

Group distribution

Max: 66.70%
Q3: 28.92%
AA: 16.01%
Median: 12.56%
Q1: 3.28%
Min: -14.07%

Largest peers

SCCO: 59.94%
AEM: 55.49%
NEM: 49.99%
BHP: 43.34%
RIO: 28.05%
LIN: 27.97%
AA: 16.01%

Where Alcoa (AA) stands on operating margin within its Materials peer group — the box is the group’s distribution and the dots its largest members.

Profitability Metrics

Alcoa (AA) metric values compared with Materials industry-group medians
Metric	Current stock: AA	Industry group median
ROE (TTM)	20.58%	8.76%
ROA (TTM)	7.52%	4.42%
Net Margin (TTM)	10.68%	5.28%
Operating Margin (TTM)	16.01%	12.56%
Gross Margin (TTM)	22.76%	27.57%

Growth

Revenue Growth

Alcoa (AA) grew revenue 7.87%, roughly around the peer group's normal range. Top-line momentum looks broadly typical for the industry.

Alcoa (AA): Revenue Growth across different time periods, set against Materials industry-group medians.

EPS Growth

Alcoa (AA) grew earnings per share 1,600.00%, above the industry benchmark range. Profits are compounding faster than at any typical peer, though a depressed base year can inflate the percentage, so the level of earnings matters alongside the rate.

Alcoa (AA): EPS Growth across different time periods, set against Materials industry-group medians.

Growth Metrics

Alcoa (AA) metric values compared with Materials industry-group medians
Metric	Current stock: AA	Industry group median
Revenue Growth (YoY)	7.87%	8.36%
Revenue Growth (3Y CAGR)	1.01%	0.59%
EPS Growth (YoY)	1,600.00%	-1.73%
EPS Growth (3Y CAGR)	--	2.12%

Financial Strength

Current Ratio (MRQ)

Alcoa (AA) has current ratio of 2.31, in the healthier middle range for its industry. The short-term asset cushion looks balanced relative to peers rather than stretched thin.

AA

Materials industry group

2.31

Group distribution

Max: 5.96
Q3: 3.30
AA: 2.31
Median: 2.24
Q1: 1.45
Min: 0.16

Largest peers

SCCO: 4.31
AEM: 2.75
NEM: 2.45
AA: 2.31
BHP: 1.89
RIO: 1.42
LIN: 0.86

Where Alcoa (AA) stands on current ratio within its Materials peer group — the box is the group’s distribution and the dots its largest members.

Debt / Equity (MRQ)

Alcoa (AA) has debt-to-equity ratio of 0.58, roughly in line with the peer group’s normal leverage range. Its mix of debt and equity looks typical for the industry.

AA

Materials industry group

0.58

Group distribution

Max: 1.98
Q3: 0.89
AA: 0.58
Median: 0.47
Q1: 0.13
Min: 0.00

Largest peers

LIN: 0.65
SCCO: 0.63
AA: 0.58
BHP: 0.50
RIO: 0.32
NEM: 0.16
AEM: 0.01

Where Alcoa (AA) stands on debt-to-equity ratio within its Materials peer group — the box is the group’s distribution and the dots its largest members.

Financial Strength Metrics

Alcoa (AA) metric values compared with Materials industry-group medians
Metric	Current stock: AA	Industry group median
Current Ratio (MRQ)	2.31	2.24
Debt / Equity (MRQ)	0.58	0.47
Net Debt / EBITDA	0.14	1.37

Dividends

Dividend Yield (TTM)

Alcoa (AA) has dividend yield of 1.04%, in the industry’s normal income range. It provides a meaningful dividend without the red flag of an unusually high headline yield.

AA

Materials industry group

1.04%

Group distribution

Max: 4.52%
Q3: 1.85%
AA: 1.04%
Median: 0.38%
Q1: 0.00%
Min: 0.00%

Largest peers

RIO: 5.59%
SCCO: 2.30%
BHP: 2.19%
LIN: 1.21%
AA: 1.04%
AEM: 0.93%
NEM: 0.87%

Where Alcoa (AA) stands on dividend yield within its Materials peer group — the box is the group’s distribution and the dots its largest members.

Dividend Payout Ratio (TTM)

Alcoa (AA) has payout ratio of 6.96%, within the industry’s typical payout band. The dividend shares profits with investors while leaving earnings coverage that looks normal for the peer group.

AA

Materials industry group

6.96%

Group distribution

Max: 83.62%
Q3: 41.37%
Median: 9.54%
AA: 6.96%
Q1: 0.00%
Min: 0.00%

Largest peers

BHP: 68.84%
RIO: 54.46%
SCCO: 52.43%
LIN: 41.83%
AEM: 14.26%
NEM: 11.95%
AA: 6.96%

Where Alcoa (AA) stands on payout ratio within its Materials peer group — the box is the group’s distribution and the dots its largest members.

Dividend Metrics

Alcoa (AA) metric values compared with Materials industry-group medians
Metric	Current stock: AA	Industry group median
Dividend Yield (TTM)	1.04%	0.38%
Dividend Payout Ratio (TTM)	6.96%	9.54%

Valuation

P/E Ratio (TTM)

Alcoa (AA) trades at P/E ratio of 6.88, in the cheaper earnings-multiple quartile for its industry. Investors are paying less for each dollar of TTM earnings than they usually pay for comparable businesses.

AA

Materials industry group

6.88

Group distribution

Max: 59.00
Q3: 32.93
Median: 18.82
Q1: 11.96
AA: 6.88
Min: 3.93

Largest peers

LIN: 34.21
SCCO: 22.27
BHP: 20.70
AEM: 15.61
NEM: 14.03
RIO: 11.35
AA: 6.88

Where Alcoa (AA) stands on P/E ratio within its Materials peer group — the box is the group’s distribution and the dots its largest members.

P/S Ratio (TTM)

Alcoa (AA) trades at 0.73 on P/S ratio, in the lower sales-valuation quartile for its industry. That points to a cheaper revenue stream than most peers, with margin quality still doing the heavy lifting.

AA

Materials industry group

0.73

Group distribution

Max: 9.62
Q3: 4.34
Median: 1.87
Q1: 0.73
AA: 0.73
Min: 0.00

Largest peers

SCCO: 8.34
LIN: 6.53
AEM: 6.44
NEM: 4.72
BHP: 3.46
RIO: 2.20
AA: 0.73

Where Alcoa (AA) stands on P/S ratio within its Materials peer group — the box is the group’s distribution and the dots its largest members.

P/B Ratio (MRQ)

Alcoa (AA) trades at 1.27 on P/B ratio, roughly in line with the industry’s normal price-to-book range. Its balance sheet is not being priced at a clear discount or premium versus peers.

AA

Materials industry group

1.27

Group distribution

Max: 6.59
Q3: 3.55
Median: 2.08
AA: 1.27
Q1: 1.26
Min: -0.17

Largest peers

SCCO: 10.89
LIN: 6.00
BHP: 3.98
NEM: 3.53
AEM: 3.27
RIO: 2.08
AA: 1.27

Where Alcoa (AA) stands on P/B ratio within its Materials peer group — the box is the group’s distribution and the dots its largest members.

Valuation Metrics

Alcoa (AA) metric values compared with Materials industry-group medians
Metric	Current stock: AA	Industry group median
P/E Ratio (TTM)	6.88	18.82
P/S Ratio (TTM)	0.73	1.87
P/B Ratio (MRQ)	1.27	2.08
Free Cash Flow Yield (TTM)	8.80%	3.08%