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Alcoa Business Segments

Business, geographic, and product segment breakdowns

Alcoa generates $12.7B in annual revenue across 4 key segments: Alumina ($3.0B), Aluminum ($9.1B), Bauxite ($603.0M), and Energy ($259.0M). Based on the Q1 2026 filing.

Alumina (TTM)$3.0BAluminum (TTM)$9.1BBauxite (TTM)$603.0MEnergy (TTM)$259.0MOther Products (TTM)$252.0M
Latest FilingQ1 2026
Report Date2026-04-30
Market Cap$18.1B
P/E Ratio17.55
ROE1.28%

Products & Services

Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Aluminum$1.9B$2B$2B$2.1B$2.5B$2.6B
Alumina$1.5B$1.2B$830M$829M$792M$521M
Bauxite$127M$242M$203M$112M$170M$118M
Other Products$118M-$72M$111M$107M$139M-$105M
Energy$57M$33M$60M$63M$59M$77M

Property Plant And Equipment Gross

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Energy$855M———$872M—

Current Assets

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Energy$99M———$138M—
Other Products$177M———$203M—

Non-Current Assets

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Energy$240M———$244M—
Other Products$777M———$785M—

Current Liabilities

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Energy$16M———$15M—
Other Products$85M———$80M—

Liabilities Noncurrent

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Energy$35M———$44M—
Other Products$120M———$121M—

Accrue For Other Costs

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Kwinana Refinery———$86M——

Cash Outlays Expected In Next Twelve Months

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Kwinana Refinery—$6.3M$6.3M$6.3M$6.3M—

Cash Outlays Expected Over Next Six Years

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Kwinana Refinery—$12.5M$12.5M$12.5M$12.5M—

Charges For Write Off Remaining Net Book Value Of Assets

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Kwinana Refinery———$75M——

Inventory Write Down

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Kwinana Refinery———$39M——

Payments For Restructuring

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Kwinana Refinery$34M$44.8M$44.8M$44.8M$44.8M—

Reserves For Asset Retirement Obligations And Environmental Remediation

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Kwinana Refinery———$430M——

Written Off Charges

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Kwinana Refinery———$74M——

Restart Costs

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
San Ciprian Smelter—$3.8M$3.8M$3.8M$3.8M—

Restricted Cash And Cash Equivalents

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
San Ciprian Smelter$86M———$75M—

Restricted Cash Available For Capital Improvments

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
San Ciprian Smelter—————$75M

Geographic

PP&E (Net)

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
AU$1.9B———$2B—
BR$1.4B———$1.5B—
CA$903M———$931M—
ES$244M———$311M—
IS$901M———$846M—
NO$288M———$342M—
US$749M———$773M—

Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
AU$782M$752.8M$752.8M$752.8M$752.8M—
BR$219.5M$255M$255M$255M$255M—
ES$73.3M$79.5M$79.5M$79.5M$79.5M—
NL$548.3M$585.5M$585.5M$585.5M$585.5M—
US$1.3B$1.5B$1.5B$1.5B$1.5B—

Prepaid Expense Current And Noncurrent

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Dampier Gas Pipeline$278M———$234M—

Reduction To Cost Of Goods Sold Related To Carbondioxide Compensation Received

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
ES—$8M$8M$8M$8M—

Investments In Environmental Offsets Associated Cash Outlays Expected Year

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Huntly Australia—506.50506.50506.50506.502026.00

Investments In Environmental Offsets Ending Year

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Huntly Australia—506.25506.25506.25506.252025.00

Investments In Environmental Offsets Impacts Caused By Minining Developement And Coservation Programs

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Huntly Australia—$13.8M$13.8M$13.8M$13.8M$55M

Investments In Environmental Offsets Starting Year

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Huntly Australia—504.75504.75504.75504.752019.00

Percentage Requirement For Recipients To Implement Emission Reduction And Energy Efficiency Measures Of Compensation Paid

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
NO—10.0%10.0%10.0%10.0%—

Accrual For Environmental Loss Contingencies

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Other Sites$66M$62M$73M$66M$80M$75M

Number Of Remediation Projects

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Other Sites—31.00——1.0028.00

Business Segments

Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
All Other Segments$750K$6.3M$6.3M$6.3M$6.3M—

Adjusted Ebitda

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Aluminum$194M$134M$97M$307M$520M$694M
Alumina$716M$664M$139M$67M$12M-$40M

Adjusted Operating Costs

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Aluminum$1.5B$1.6B$1.6B$1.4B$1.5B$1.4B
Alumina$766M$723M$770M$779M$789M$737M

Number Of Reporting Units

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Alumina0.250.250.250.250.25—

Restructuring And Other Charges Benefit Net

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Alumina$82M$0$0$847M$0$0

Revenue (Gross)

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Aluminum$1.9B$1.9B$2B$2B$2.5B$2.5B
Alumina$2.4B$2.2B$1.5B$1.4B$1.4B$1.1B

Segment Reporting Information Capital Expenditures

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Alumina$101M$53M$73M$75M$119M$64M
Aluminum$65M$37M$54M$67M$97M$46M

Segment Reporting Information Depreciation Depletion And Amortization Expenses

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Alumina$86M$76M$80M$88M$86M$86M
Aluminum$68M$67M$66M$67M$70M$71M

Segment Reporting Information Equity In Net Income Of Equity Method Investees Of The Segments

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Alumina$25M$15M-$9M$0$0$0
Aluminum-$17M-$6M$3M$0$0$0

Segment Reporting Information Equity Method Investments

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Alumina$420M$443M$444M$240M$243M$247M
Aluminum$546M$553M$568M$236M$230M$240M

Segment Reporting Information Intersegment Revenues

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Alumina$846M$712M$467M$474M$457M$445M
Aluminum$4M$4M$5M$5M$6M$5M

Segment Reporting Information Reported Assets

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Aluminum$6.1B$6.3B$6.3B$6.1B$6.2B$6.7B
Alumina$6.1B$6.3B$6.1B$5.7B$5.7B$5.8B

Segment Reporting Information Unrelated Party Sales

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Aluminum$1.9B$1.9B$2B$2B$2.5B$2.5B
Alumina$1.6B$1.5B$1.1B$954M$979M$657M

Segment Reporting Other Item Amount

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Aluminum$191M$197M$286M$332M$399M$417M
Alumina$959M$788M$609M$582M$635M$405M

Goodwill

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Aluminum$0———$0—