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Alcoa AA Debt-to-equity

Debt-to-equity at other companies

Albemarle logo
AlbemarleALB
0.2×-0.2×
Reliance logo
RelianceRS
0.3×0.0×
Nucor logo
NucorNUE
0.0×
Carpenter Technology logo
Carpenter TechnologyCRS
0.3×-0.1×
Steel Dynamics logo
Steel DynamicsSTLD
0.5×0.0×
ATI logo
ATIATI
0.0×

Other financials

Income statement

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Revenue$3.2B-5.2%
Gross profit$681.0M-26.9%
Net income$425.0M-22.5%
EPS (diluted)$1.60-22.7%

Balance sheet

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Cash & equivalents$1.4B+12.6%
Total debt$2.6B-2.6%
Total assets$16.6B+14.2%

Cash flow

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Operating cash flow-$179.0M-339%
CapEx$119.0M+28.0%
Free cash flow-$298.0M-1,556%

Valuation

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Market cap$16.29B+122%
Enterprise value$17.49B+101%
P/E15.8×+7.2×
P/S1.3×+0.7×

Profitability

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Gross margin15.2%-5.2pp
Net margin8.2%+1.4pp

Returns & leverage

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Return on equity1.3%+0.7pp
Current ratio1.5×-0.2×

Where this comes from

Calculated from Alcoa’s reported figures.

Based on the most recent quarter.

The official record: Alcoa’s 10-K, filed February 26, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Alcoa's debt-to-equity?
Alcoa (AA) reported debt-to-equity of 0.5× in Q4 2024.
How has Alcoa's debt-to-equity changed year-over-year?
Alcoa's debt-to-equity increased by 19.2% year-over-year, from 0.5× to 0.5×.
What is the long-term trend for Alcoa's debt-to-equity?
Over 3 years (2021 to 2024), Alcoa's debt-to-equity has grown at a -2.4% compound annual growth rate (CAGR), from 2.5× to 2.3×.
What does debt-to-equity mean?
How much debt the company carries for every dollar of shareholder equity.
How do you interpret debt-to-equity?
Lower is generally safer, but moderate leverage can boost returns. Read in the context of cash-flow stability — a utility tolerates more debt than a cyclical. Negative equity makes the ratio meaningless and it is suppressed there.
How does debt-to-equity compare across companies?
Comparable within an industry; capital structures differ sharply across sectors. Not meaningful for banks.