Alcoa (AA) reported R&D of $11M in Q2 2026.

How has Alcoa's R&D changed year-over-year?

Alcoa's R&D decreased by 8.3% year-over-year, from $12M to $11M.

What is the long-term trend for Alcoa's R&D?

Over 3 years (2021 to 2024), Alcoa's R&D has grown at a 22.5% compound annual growth rate (CAGR), from $31M to $57M.

Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.

Alcoa AA R&D

R&D at other companies

APO

Apogee EnterprisesAPOG

$2.8M-61.4%

ConstelliumCSTM

$14M+16.7%

AlbemarleALB

$9.17M-35.0%

5E Advanced Materials, Inc.FEAM

$0—

MaterionMTRN

$6.16M-5.3%

American Battery Technology CompanyABAT

$4.64M+42.8%

Other financials

Income statement

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Revenue$4.0B+31.4%

Gross profit$999.0M+173%

Net income$407.0M+148%

EPS (diluted)$1.53+147%

Balance sheet

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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

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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

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Gross margin18.8%-1.4pp

Net margin9.4%+1.5pp

FCF margin4.6%+3.3pp

Returns & leverage

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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:ResearchAndDevelopmentExpense.

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 R&D?: Alcoa (AA) reported R&D of $11M in Q2 2026.
How has Alcoa's R&D changed year-over-year?: Alcoa's R&D decreased by 8.3% year-over-year, from $12M to $11M.
What is the long-term trend for Alcoa's R&D?: Over 3 years (2021 to 2024), Alcoa's R&D has grown at a 22.5% compound annual growth rate (CAGR), from $31M to $57M.
What does R&D mean?: Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.