AA vs. DOW: Alcoa vs. Dow Stock Comparison

November 11, 2026

How do Alcoa (AA) and Dow (DOW) 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 Dow (DOW) both fall under the Materials industry group, but AA is classified in Metals & Mining while DOW is classified in Chemicals.

Company profile comparison for Alcoa (AA) and Dow (DOW)
Profile Item	AA	DOW
Name	Alcoa Corporation	Dow 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	Commodity Chemicals
Market Capitalization	10.44 billion USD	22.73 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	January 2, 1962	March 20, 2019
Security Type	Common Stock	Common Stock

Price Performance

Cumulative Growth

DOW

GSPC

Alcoa (AA) vs. Dow (DOW), 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 Dow (DOW). Returns over one year are annualized.

Calendar-Year Returns

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

Performance Metrics

Price performance metrics for Alcoa (AA) and Dow (DOW)
Metric	AA	DOW
Total Return (1Y)	12.55%	46.93%
Total Return (3Y, Annualized)	20.53%	-8.46%
Total Return (5Y, Annualized)	-1.46%	-6.94%

Risk Profile

Drawdown History

DOW

GSPC

Alcoa (AA) vs. Dow (DOW), 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 Dow (DOW). 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 Dow (DOW) is defensive at 0.44 and tends to be less market-sensitive — they sit on opposite ends of the beta spectrum.

Risk profile metrics for Alcoa (AA) and Dow (DOW)
Metric	AA	DOW
Volatility (1Y, Annualized)	53.37%	41.81%
Beta (5Y)	1.80	0.44
Max Drawdown (5Y)	-75.46%	-64.37%
Avg. Volume (3M)	4.61M	8.52M

Risk-Adjusted Performance

Risk-Return Positioning

AA and DOW 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 Dow (DOW)
Metric	AA	DOW
Sharpe Ratio (1Y)	0.16	1.02
Sortino Ratio (1Y)	0.23	1.62

Profitability

ROE (TTM)

Dow (DOW) reports a negative ROE of -3.24%; negative ROE can reflect losses or negative shareholders’ equity, so it is harder to read as capital efficiency. Meanwhile Alcoa (AA) reports 20.58%, ranking against industry peers normally.

AA

Materials industry group

20.58%

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

DOW

Materials industry group

-3.24%

Max: 52.88%
Q3: 19.49%
Median: 8.76%
DOW: -3.24%
Q1: -3.41%
Min: -32.81%

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

Net Margin (TTM)

Dow (DOW) reports a negative net margin of -2.11%, usually indicating a net loss over the period. Meanwhile Alcoa (AA) reports 10.68%, ranking against industry peers normally.

AA

Materials industry group

10.68%

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

DOW

Materials industry group

-2.11%

Max: 38.66%
Q3: 15.98%
Median: 5.28%
Q1: 0.00%
DOW: -2.11%
Min: -20.40%

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

Operating Margin (TTM)

Both Alcoa (AA) at 16.01% and Dow (DOW) at 6.78% run core operations about as efficiently as their industries’ norm — neither stands out on operating profitability.

AA

Materials industry group

16.01%

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

DOW

Materials industry group

6.78%

Max: 66.70%
Q3: 28.92%
Median: 12.56%
DOW: 6.78%
Q1: 3.28%
Min: -14.07%

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

Profitability Metrics

Profitability metrics for Alcoa (AA) and Dow (DOW)
Metric	AA	DOW
ROE (TTM)	20.58%	-3.24%
ROA (TTM)	7.52%	1.87%
Net Margin (TTM)	10.68%	-2.11%
Operating Margin (TTM)	16.01%	6.78%
Gross Margin (TTM)	22.76%	11.01%

Growth

Revenue Growth

Alcoa (AA) at 7.87% is around its peer norm for revenue growth, while Dow (DOW) at -6.97% drops into the bottom quartile, signaling weaker demand or pricing momentum.

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

EPS Growth

Alcoa (AA) at 1,600.00% sits above its peer range for EPS growth; Dow (DOW) at -335.67% sits below its range, putting their earnings trajectories at opposite ends.

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

Growth Metrics

Growth metrics for Alcoa (AA) and Dow (DOW)
Metric	AA	DOW
Revenue Growth (YoY)	7.87%	-6.97%
Revenue Growth (3Y CAGR)	1.01%	-11.11%
EPS Growth (YoY)	1,600.00%	-335.67%
EPS Growth (3Y CAGR)	--	--

Financial Strength

Current Ratio (MRQ)

Both Alcoa (AA) at 2.31 and Dow (DOW) at 1.76 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

DOW

Materials industry group

1.76

Max: 5.96
Q3: 3.30
Median: 2.24
DOW: 1.76
Q1: 1.45
Min: 0.16

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

Debt / Equity (MRQ)

Alcoa (AA) at 0.58 carries an industry-typical debt-to-equity mix, while Dow (DOW) at 1.08 uses more debt funding than most peers.

AA

Materials industry group

0.58

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

DOW

Materials industry group

1.08

Max: 1.98
DOW: 1.08
Q3: 0.89
Median: 0.47
Q1: 0.13
Min: 0.00

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

Financial Strength Metrics

Financial strength metrics for Alcoa (AA) and Dow (DOW)
Metric	AA	DOW
Current Ratio (MRQ)	2.31	1.76
Debt / Equity (MRQ)	0.58	1.08
Net Debt / EBITDA	0.14	3.21

Dividends

Dividend Yield (TTM)

Dow (DOW) at 4.38% delivers top-quartile income for its industry, while Alcoa (AA) at 1.04% pays a more typical yield — both are credible income propositions, DOW the richer one.

AA

Materials industry group

1.04%

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

DOW

Materials industry group

4.38%

Max: 4.52%
DOW: 4.38%
Q3: 1.85%
Median: 0.38%
Q1: 0.00%
Min: 0.00%

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

Dividend Payout Ratio (TTM)

Dow (DOW) reports payout ratio above 100% at 700.00%, meaning dividends exceeded current-period earnings and sustainability needs extra context. Meanwhile Alcoa (AA) reports 6.96%, ranking against industry peers normally.

AA

Materials industry group

6.96%

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

DOW

Materials industry group

700.00%

DOW: 700.00%
Max: 83.62%
Q3: 41.37%
Median: 9.54%
Q1: 0.00%
Min: 0.00%

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

Dividend Metrics

Dividend metrics for Alcoa (AA) and Dow (DOW)
Metric	AA	DOW
Dividend Yield (TTM)	1.04%	4.38%
Dividend Payout Ratio (TTM)	6.96%	700.00%

Valuation

P/E Ratio (TTM)

An earnings multiple is available for just one side: Alcoa (AA) trades at 6.88 times trailing earnings, ranked against its peers, while Dow (DOW) has no P/E ratio this period.

AA

Materials industry group

6.88

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

DOW

Materials industry group

Max: 59.00
Q3: 32.93
Median: 18.82
Q1: 11.96
Min: 3.93
DOW: --

Alcoa (AA) vs. Dow (DOW): DOW does not report P/E ratio, so it has no value marker; AA is benchmarked against the Materials industry group.

P/S Ratio (TTM)

Both Alcoa (AA) at 0.73 and Dow (DOW) at 0.53 fetch a relatively low price per dollar of sales, landing in the cheaper P/S ratio quartile of their industries.

AA

Materials industry group

0.73

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

DOW

Materials industry group

0.53

Max: 9.62
Q3: 4.34
Median: 1.87
Q1: 0.73
DOW: 0.53
Min: 0.00

Alcoa (AA) vs. Dow (DOW): 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 Dow (DOW) at 1.41 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

DOW

Materials industry group

1.41

Max: 6.59
Q3: 3.55
Median: 2.08
DOW: 1.41
Q1: 1.26
Min: -0.17

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

Valuation Metrics

Valuation metrics for Alcoa (AA) and Dow (DOW)
Metric	AA	DOW
P/E Ratio (TTM)	6.88	--
P/S Ratio (TTM)	0.73	0.53
P/B Ratio (MRQ)	1.27	1.41
Free Cash Flow Yield (TTM)	8.80%	3.95%