Alcoa Corporation

185.DE

Aluminum · Basic Materials

Price

€44.82

+1.94 (+4.52%)

Market Cap

€11.83B

Exchange

Frankfurt Stock Exchange

Winston Score

Winston is curious

Mixed quality — meaningful strengths and weaknesses.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Good

Growth

Strong

Cash Flow

Good

Stability

Strong

Valuation

Strong

Dividends

Weak

Track this stock — start free trial

Share count rising — dilution

+37.5% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 190.0M (2021) → 261.2M (2025)

Winston Score History

The full picture

Alcoa makes aluminum and the raw materials used to produce it. The company mines bauxite, refines it into alumina, and then smelts alumina into aluminum metal — a process it helped pioneer over 130 years ago. Its customers include manufacturers in the aerospace, automotive, packaging, and construction industries who need lightweight, durable metal.

Alcoa earns money by selling alumina and aluminum at market prices, which means its revenue rises and falls with global commodity prices. The company operates mines, refineries, and smelters across North America, Europe, Australia, and South America, making it one of the larger integrated aluminum producers in the world. Its main competitive advantage is its low-cost, vertically integrated supply chain, but its biggest risk is that aluminum prices are set by global markets, so a drop in demand or a surge in energy costs — smelting uses enormous amounts of electricity — can quickly squeeze profits.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+31.5% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+144.4% YoY

YoY Growth Rate

Strong earnings growth

R&D Spend

$24M/ year

↓ Declining (-58% vs prior year)

0.2% of revenue

Below sector average (3%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

0.4%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$3.4B cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Revenue accelerating

Alcoa Corporation grew revenue 32% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

20.8%

Thin — 20.8% gross margin

Profit after running costs

Operating Margin

18.0%

Healthy — 18.0% operating margin

Return on the money invested

ROCE

16.3%

Strong — 16.3% return on capital

ROIC between 15% and 25%. Every dollar invested in the business earns 15 to 25 cents back per year.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Growth

Sales growth

Sales YoY

+7.9%

Steady sales growth (+7.9% YoY)

Profit growth

EPS YoY

+23.7%

Earnings growing fast (+23.7% YoY)

Healthy double-digit earnings growth — what compounders look like.

How steady the profit is

EPS Consistency

6/8 quarters

Earnings grew in most of the last 8 quarters

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Cash Flow

Profit that turns into cash

Cash Conversion

81%

Modest — 81% of profit becomes cash

Spare cash per sale

FCF Margin

2.6%

Thin free cash flow (2.6%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Stability

What it owes vs what it owns

Debt / Equity

0.30

Conservative — low debt load (0.30)

Covers its interest

Interest Cover

13.06x

Comfortably covers interest (13.1x)

Interest coverage above 8. Profits cover interest many times over.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Valuation

Price vs profit

P/E Ratio (TTM)

9.1x

Attractive valuation — P/E 9.1

P/E under 10. The price tag is small relative to last year's profit.

Cheaper or dearer next year

P/E vs Forward

+1.2

GROWING

Earnings expected to grow — slightly cheaper on forward P/E

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Dividends

Dividend

Dividend Yield

0.80%

Small dividend — 0.80% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend record

Dividend Growth

-4.0%

Dividend cut (-4.0% YoY) — warning sign

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

🔒 See full fundamentals and if they are improving or declining — click here for your free trial now.

Start free trial