What is Alcoa's inventories?

Alcoa (AA) reported inventories of -$311M in Q2 2026.

How has Alcoa's inventories changed year-over-year?

Alcoa's inventories decreased by 114.0% year-over-year, from $2.22B to -$311M.

What is the long-term trend for Alcoa's inventories?

Over 5 years (2020 to 2025), Alcoa's inventories has grown at a 9.3% compound annual growth rate (CAGR), from $1.4B to $2.18B.

What does inventories mean?

Total inventory including raw materials, work-in-progress, and finished goods, valued at the lower of cost or net realizable value.

Alcoa AA Inventories

Inventories at other companies

APO

Apogee EnterprisesAPOG

$101.8M-2.0%

Century AluminumCENX

$512.1M-5.6%

ConstelliumCSTM

$1.88B+41.3%

AlbemarleALB

$1.35B-18.7%

Cleveland-CliffsCLF

$4.53B-3.7%

Kaiser AluminumKALU

$848.1M+42.4%

Other financials

Income statement

See full

Revenue$4.0B+31.4%

Gross profit$999.0M+173%

Net income$407.0M+148%

EPS (diluted)$1.53+147%

Balance sheet

See full

Cash & equivalents$1.4B-10.7%

Total debt$2.2B-13.8%

Total equity$5.2B+21.3%

Total assets$16.9B+12.4%

Cash flow

See full

Operating cash flow$608.0M+24.6%

CapEx-$424.0M-424%

Free cash flow$184.0M-48.5%

Valuation

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Market cap$11.32B+45.1%

Enterprise value$12.19B+37.5%

P/E8.9×+1.1×

P/S0.8×+0.2×

Profitability

See full

Gross margin18.8%-1.4pp

Net margin9.4%+1.5pp

FCF margin4.6%+3.3pp

Returns & leverage

See full

Return on equity1.3%+0.7pp

Debt / equity0.5×+0.1×

Current ratio1.5×-0.1×

Where this comes from

Reported directly by Alcoa in its filing.

Tagged under the XBRL concept us-gaap:IncreaseDecreaseInInventories.

The official record: Alcoa’s 8-K, filed July 16, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Alcoa's inventories?: Alcoa (AA) reported inventories of -$311M in Q2 2026.
How has Alcoa's inventories changed year-over-year?: Alcoa's inventories decreased by 114.0% year-over-year, from $2.22B to -$311M.
What is the long-term trend for Alcoa's inventories?: Over 5 years (2020 to 2025), Alcoa's inventories has grown at a 9.3% compound annual growth rate (CAGR), from $1.4B to $2.18B.
What does inventories mean?: Total inventory including raw materials, work-in-progress, and finished goods, valued at the lower of cost or net realizable value.