ALCOA CORPORATION (AAI)
Share Price Analysis and Chart

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AAI

AAI - ALCOA CORPORATION

FNArena Sector : Aluminium, Bauxite & Alumina
Year End: December
GICS Industry Group : Materials
Debt/EBITDA: 1.19
Index: ASX200 | ASX300 | ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$89.90

21 May
2026

0.700

OPEN

$90.41

0.78%

HIGH

$90.88

92,939

LOW

$89.62

TARGET
$107.00

+1.00 change from previous day

 19.0% upside
OTHER COMPANIES IN THE SAME SECTOR
A4N . AEM . CAA . CAY . LIN . RIO .
FNARENA'S MARKET CONSENSUS FORECASTS
AAI: 1
Title FY26
Forecast		 FY27
Forecast
EPS (cps) 872.5 xxx
DPS (cps) 59.5 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 10.7 xxx
Dividend Yield 0.6% xxx
Div Pay Ratio(%) 6.8% xxx
This company reports in USD.
All estimates have been converted into AUD by FNArena at present FX values.

Dividend yield today if purchased 3 years ago: N/A

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 N/A

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 03/11 - (franking ex-div 10c)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx692.8
DPS All xxxxxxxxxxxxxxx62.2
Sales/Revenue xxxxxxxxxxxxxxx20,454.0 M
Book Value Per Share xxxxxxxxxxxxxxx3,487.0
Net Operating Cash Flow xxxxxxxxxxxxxxx1,837.7 M
Net Profit Margin xxxxxxxxxxxxxxx8.77 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx20.50 %
Return on Invested Capital xxxxxxxxxxxxxxx13.86 %
Return on Assets xxxxxxxxxxxxxxx7.65 %
Return on Equity xxxxxxxxxxxxxxx20.50 %
Return on Total Capital xxxxxxxxxxxxxxx18.90 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx716.5 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 202020212022202320242025
Short-Term Debt xxxxxxxxxxxxxxx75 M
Long Term Debt xxxxxxxxxxxxxxx4,044 M
Total Debt xxxxxxxxxxxxxxx4,119 M
Goodwill - Gross xxxxxxxxxxxxxxx1,323 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx2,611 M
Price To Book Value xxxxxxxxxxxxxxx2.31

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx958.4 M
Capex % of Sales xxxxxxxxxxxxxxx4.69 %
Cost of Goods Sold xxxxxxxxxxxxxxx17,470 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx501 M
Research & Development xxxxxxxxxxxxxxx37 M
Investments - Total xxxxxxxxxxxxxxx2,966 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.8

No. Of Recommendations

3
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

UBS

xx/xx/xxxx

1

xxxxxxx xx xxx xxxx xxxxxxx

-

xx.xx%

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Citi

21/04/2026

1

Buy

-

-

Post Alcoa's 1Q2026 update, Citi retains a Buy on the stock due to its "structurally bullish" outlook on aluminium, irrespective of the Middle East, as well as viewing Bill Oplinger as a "transformational CEO".

Management highlighted on the conference call confidence in Australian diesel supply, as Alcoa is a preferred customer and remains first in queue, with supply secured until the end of May.

There was no change to alumina guidance, and smelting capacity is noted as ramping up, with no update on Canada and Section 232 ahead of the USMCA negotiations.

Earnings forecasts (EBITDA) are lowered by -10% due to higher costs in 2H2026 from Australian diesel, natural gas, and other inputs.

Target price set at US$76.

FORECAST
Citi forecasts a full year FY26 dividend of 59.45 cents and EPS of 872.47 cents.
Citi forecasts a full year FY27 dividend of 59.45 cents and EPS of 630.20 cents.

Ord Minnett

xx/xx/xxxx

2

xxxxxxx xx xxxxxxxxxx xxxx xxxx

$xx.xx

xx.xx%

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Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

0

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY
Access Extra Coverage Research History >

AAI STOCK CHART

FNArena News on AAI

1
FNArena Corporate Results Monitor – 01-05-2026

May 01 2026 - Australia
2
Why Is PLS Still Heavily Shorted?

Apr 30 2026 - Commodities
3
Weekly Ratings, Targets, Forecast Changes – 24-04-26

Apr 27 2026 - Weekly Reports
4
Weekly Ratings, Targets, Forecast Changes – 10-04-26

Apr 13 2026 - Weekly Reports
5
Next Week At A Glance – 7-10 Apr 2026

Apr 03 2026 - Weekly Reports

Latest Aluminium, Bauxite & Alumina News

1
Is Aluminium Pivoting Towards A Structural Bull Market?

Sep 14 2021 - Commodities
2
Weekly Ratings, Targets, Forecast Changes – 17-07-20

Jul 20 2020 - Weekly Reports
3
Treasure Chest: Can Alumina Maintain Dividends?

Jul 11 2019 - Treasure Chest
4
Alumina Strikes Record Earnings, Dividend

Feb 25 2019 - Australia
5
Treasure Chest: More Upside For Alumina?

Apr 19 2018 - Treasure Chest
6
Weekly Ratings, Targets, Forecast Changes

Dec 12 2016 - Weekly Reports
7
Material Matters: US Energy, Coal, Chrome, Steel And Oz Miners

Nov 17 2016 - Commodities
8
Alumina Ltd Cuts A Better Deal From JV

Sep 05 2016 - Australia
9
Alumina Ltd Basks In Higher Margins

Jul 13 2016 - Australia
10
Next Week At A Glance

Jul 08 2016 - Weekly Reports