AA vs. CF: Alcoa vs. CF Industries Stock Comparison

November 11, 2026

How do Alcoa (AA) and CF Industries (CF) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

Alcoa (AA) and CF Industries (CF) both fall under the Materials industry group, but AA is classified in Metals & Mining while CF is classified in Chemicals.

Company profile comparison for Alcoa (AA) and CF Industries (CF)
Profile Item	AA	CF
Name	Alcoa Corporation	CF Industries Holdings, Inc.
Country/Region	United States	United States
GICS Sector	Materials	Materials
GICS Industry Group	Materials	Materials
GICS Industry	Metals & Mining	Chemicals
GICS Sub-Industry	Aluminum	Fertilizers & Agricultural Chemicals
Market Capitalization	10.44 billion USD	17.46 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	January 2, 1962	August 11, 2005
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

GSPC

Alcoa (AA) vs. CF Industries (CF), with S&P 500 (GSPC) for reference: 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 CF Industries (CF). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for Alcoa (AA) and CF Industries (CF). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for Alcoa (AA) and CF Industries (CF)
Metric	AA	CF
Total Return (1Y)	12.55%	49.36%
Total Return (3Y, Annualized)	20.53%	17.00%
Total Return (5Y, Annualized)	-1.46%	16.09%

Risk Profile

Drawdown History

GSPC

Alcoa (AA) vs. CF Industries (CF), with S&P 500 (GSPC) for reference: 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 CF Industries (CF). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Alcoa (AA) has an aggressive beta of 1.80, indicating higher sensitivity to broad-market moves, while CF Industries (CF) is defensive at 0.56 and tends to be less market-sensitive — they sit on opposite ends of the beta spectrum.

Risk profile metrics for Alcoa (AA) and CF Industries (CF)
Metric	AA	CF
Volatility (1Y, Annualized)	53.37%	43.66%
Beta (5Y)	1.80	0.56
Max Drawdown (5Y)	-75.46%	-48.36%
Avg. Volume (3M)	4.61M	2.49M

Risk-Adjusted Performance

Risk-Return Positioning

AA and CF are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for Alcoa (AA) and CF Industries (CF)
Metric	AA	CF
Sharpe Ratio (1Y)	0.16	1.03
Sortino Ratio (1Y)	0.23	1.59

Profitability

ROE (TTM)

Both Alcoa (AA) at 20.58% and CF Industries (CF) at 30.86% sit in the top peer quartile for ROE, suggesting each generates more profit from shareholders’ equity than typical industry peers.

AA

Materials industry group

20.58%

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

CF

Materials industry group

30.86%

Max: 52.88%
CF: 30.86%
Q3: 19.49%
Median: 8.76%
Q1: -3.41%
Min: -32.81%

Alcoa (AA) vs. CF Industries (CF): A comparison of their ROE against the Materials industry group benchmark.

Net Margin (TTM)

CF Industries (CF) at 27.48% retains a top-quartile share of revenue as profit, ahead of Alcoa (AA) at 10.68%, which keeps about the industry-typical share.

AA

Materials industry group

10.68%

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

CF

Materials industry group

27.48%

Max: 38.66%
CF: 27.48%
Q3: 15.98%
Median: 5.28%
Q1: 0.00%
Min: -20.40%

Alcoa (AA) vs. CF Industries (CF): A comparison of their net margin against the Materials industry group benchmark.

Operating Margin (TTM)

CF Industries (CF) at 34.36% operates in the top operating margin quartile, ahead of Alcoa (AA) at 16.01%, which runs around its industry’s norm.

AA

Materials industry group

16.01%

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

CF

Materials industry group

34.36%

Max: 66.70%
CF: 34.36%
Q3: 28.92%
Median: 12.56%
Q1: 3.28%
Min: -14.07%

Alcoa (AA) vs. CF Industries (CF): A comparison of their operating margin against the Materials industry group benchmark.

Profitability Metrics

Profitability metrics for Alcoa (AA) and CF Industries (CF)
Metric	AA	CF
ROE (TTM)	20.58%	30.86%
ROA (TTM)	7.52%	12.61%
Net Margin (TTM)	10.68%	27.48%
Operating Margin (TTM)	16.01%	34.36%
Gross Margin (TTM)	22.76%	42.52%

Growth

Revenue Growth

Both Alcoa (AA) at 7.87% and CF Industries (CF) at 19.34% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

Alcoa (AA) vs. CF Industries (CF): A comparison of their Revenue Growth across different time periods.

EPS Growth

Alcoa (AA) at 1,600.00% clears its industry range for EPS growth, a much stronger earnings trajectory than CF Industries (CF) at 33.09%, which is closer to a typical peer reading.

Alcoa (AA) vs. CF Industries (CF): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for Alcoa (AA) and CF Industries (CF)
Metric	AA	CF
Revenue Growth (YoY)	7.87%	19.34%
Revenue Growth (3Y CAGR)	1.01%	-14.12%
EPS Growth (YoY)	1,600.00%	33.09%
EPS Growth (3Y CAGR)	--	-18.19%

Financial Strength

Current Ratio (MRQ)

Both Alcoa (AA) at 2.31 and CF Industries (CF) at 2.98 carry current ratio within their industries’ typical mid-ranges, suggesting balanced short-term liquidity relative to peers.

AA

Materials industry group

2.31

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

CF

Materials industry group

2.98

Max: 5.96
Q3: 3.30
CF: 2.98
Median: 2.24
Q1: 1.45
Min: 0.16

Alcoa (AA) vs. CF Industries (CF): A comparison of their current ratio against the Materials industry group benchmark.

Debt / Equity (MRQ)

Both Alcoa (AA) at 0.58 and CF Industries (CF) at 0.41 fund their balance sheets with roughly industry-typical debt-to-equity mixes.

AA

Materials industry group

0.58

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

CF

Materials industry group

0.41

Max: 1.98
Q3: 0.89
Median: 0.47
CF: 0.41
Q1: 0.13
Min: 0.00

Alcoa (AA) vs. CF Industries (CF): A comparison of their debt-to-equity ratio against the Materials industry group benchmark.

Financial Strength Metrics

Financial strength metrics for Alcoa (AA) and CF Industries (CF)
Metric	AA	CF
Current Ratio (MRQ)	2.31	2.98
Debt / Equity (MRQ)	0.58	0.41
Net Debt / EBITDA	0.14	0.21

Dividends

Dividend Yield (TTM)

Both Alcoa (AA) at 1.04% and CF Industries (CF) at 1.77% pay solid, industry-typical yields, sitting squarely within their peers’ usual range.

AA

Materials industry group

1.04%

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

CF

Materials industry group

1.77%

Max: 4.52%
Q3: 1.85%
CF: 1.77%
Median: 0.38%
Q1: 0.00%
Min: 0.00%

Alcoa (AA) vs. CF Industries (CF): A comparison of their dividend yield against the Materials industry group benchmark.

Dividend Payout Ratio (TTM)

Both Alcoa (AA) at 6.96% and CF Industries (CF) at 14.81% keep payout ratio within their industries’ typical mid-ranges — dividend policies that share earnings without consuming too much of them.

AA

Materials industry group

6.96%

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

CF

Materials industry group

14.81%

Max: 83.62%
Q3: 41.37%
CF: 14.81%
Median: 9.54%
Q1: 0.00%
Min: 0.00%

Alcoa (AA) vs. CF Industries (CF): A comparison of their payout ratio against the Materials industry group benchmark.

Dividend Metrics

Dividend metrics for Alcoa (AA) and CF Industries (CF)
Metric	AA	CF
Dividend Yield (TTM)	1.04%	1.77%
Dividend Payout Ratio (TTM)	6.96%	14.81%

Valuation

P/E Ratio (TTM)

Both Alcoa (AA) at 6.88 and CF Industries (CF) at 8.42 sit in the cheaper earnings-multiple quartile for P/E ratio, with the market paying less for a dollar of trailing earnings than it pays for typical peers.

AA

Materials industry group

6.88

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

CF

Materials industry group

8.42

Max: 59.00
Q3: 32.93
Median: 18.82
Q1: 11.96
CF: 8.42
Min: 3.93

Alcoa (AA) vs. CF Industries (CF): A comparison of their P/E ratio against the Materials industry group benchmark.

P/S Ratio (TTM)

Alcoa (AA) at 0.73 sits in the cheaper P/S ratio quartile while CF Industries (CF) at 2.20 prices around its industry’s middle — AA costs less per dollar of sales, though read it alongside growth and margins.

AA

Materials industry group

0.73

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

CF

Materials industry group

2.20

Max: 9.62
Q3: 4.34
CF: 2.20
Median: 1.87
Q1: 0.73
Min: 0.00

Alcoa (AA) vs. CF Industries (CF): A comparison of their P/S ratio against the Materials industry group benchmark.

P/B Ratio (MRQ)

On P/B ratio, both Alcoa (AA) at 1.27 and CF Industries (CF) at 3.10 are valued close to their industries’ norm against book — neither stands out from peers.

AA

Materials industry group

1.27

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

CF

Materials industry group

3.10

Max: 6.59
Q3: 3.55
CF: 3.10
Median: 2.08
Q1: 1.26
Min: -0.17

Alcoa (AA) vs. CF Industries (CF): A comparison of their P/B ratio against the Materials industry group benchmark.

Valuation Metrics

Valuation metrics for Alcoa (AA) and CF Industries (CF)
Metric	AA	CF
P/E Ratio (TTM)	6.88	8.42
P/S Ratio (TTM)	0.73	2.20
P/B Ratio (MRQ)	1.27	3.10
Free Cash Flow Yield (TTM)	8.80%	9.10%