Alcoa Corporation Financial Ratios — AA Stock

Profitability	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Return on Common Equity (%)	- -	-4.3	-14.49	- -	- -	72.78	- -	- -	- -	- -	- -
Return on Assets (%)	- -	-2.74	-4.92	-2.41	1.63	1.49	-7.31	-1.15	2.87	-0.83	-4.5
Return on Capital (%)	- -	- -	- -	- -	0.08	-8.01	- -	-10.04	11.25	-9.31	- -
Return on Invested Capital (%)	- -	- -	- -	- -	9.25	13.36	- -	-0.44	11.93	0.84	- -
Gross Margin (%)	12.19	19.77	19.29	15.46	23.19	24.99	18.17	14.18	24.68	17.98	6.99
EBITDA Margin (%)	8.28	15.26	14.07	9.97	20.37	22.06	13.85	11.64	22.24	15.65	3.84
Operating Margin (%)	0.12	8	7.11	2.26	13.92	16.59	7.02	4.61	16.78	10.69	-2.15
Incremental Operating Margin (%)	- -	180.66	13.14	31.1	60.45	34.38	50.24	26.5	56.21	-236.79	- -
Pretax Margin (%)	-21.85	-0.48	-3.01	-1.74	10.3	12.12	-4.2	1.86	9.87	5.64	-5.54
Profit Margin (%)	-23.14	-1.95	-7.71	-4.29	2.39	1.87	-10.78	-1.83	3.53	-0.99	-6.17
Net Income to Common Margin (%)	-23.14	-1.95	-7.71	-4.29	2.39	1.87	-10.78	-1.83	3.53	-0.99	-6.17
Effective Tax Rate (%)	- -	- -	- -	- -	49.33	45.05	- -	108.09	52.46	94.59	- -
Dvd Payout Ratio (%)	- -	- -	- -	- -	- -	- -	- -	- -	2.67	36.18	-8.04
Sustainable Growth Rate (%)	- -	-4.3	-14.49	- -	- -	72.78	- -	- -	- -	- -	- -

Credit	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Total Debt	- -	342	225	1,445	1,404	1,802	1,900	2,624	1,866	1,866	1,915
ST Debt	- -	29	18	21	16	1	1	79	76	1	79
LT Debt	- -	313	207	1,424	1,388	1,801	1,899	2,545	1,790	1,865	1,836
Total Debt/EBITDA	- -	0.17	0.14	1.56	0.59	0.61	1.31	2.43	0.69	0.96	4.73
Net Debt/EBITDA	- -	0.04	-0.21	0.64	0.02	0.23	0.64	0.86	- -	0.23	2.14
Total Debt/EBIT	- -	0.33	0.28	6.85	0.87	0.81	2.6	6.13	0.92	1.4	-8.44
Net Debt/EBIT	- -	0.07	-0.42	2.81	0.03	0.31	1.26	2.18	-0.01	0.33	-3.82
EBITDA to Interest Expense	3.41	6.49	5.84	3.82	22.83	24.24	11.94	7.4	13.86	18.38	3.79
EBITDA-CapEx/Interest Expense	3.41	6.49	5.84	3.82	22.83	24.24	11.94	7.4	13.86	18.38	3.79
EBIT to Interest Expense	0.05	3.4	2.95	0.87	15.6	18.23	6.05	2.93	10.46	12.56	-2.12
Interest Expense	305	309	270	243	104	122	121	146	195	106	107
Common Equity/Total Assets	- -	63.78	- -	-0.61	0.66	3.55	-3.78	-4.87	-2.08	-3.85	-9.12
Long-Term Debt/Equity (%)	- -	2.39	1.8	18.5	20.42	23.73	32.26	50.74	28.49	28.3	31.41
Long-Term Debt/Capital (%)	- -	2.12	9.02	42.06	36.58	41.46	60.85	70.58	56.56	66.35	82.78
Long-Term Debt/Total Assets (%)	- -	1.68	1.26	8.51	7.96	11.16	12.98	17.13	11.91	12.64	12.97
Total Debt/Equity (%)	- -	2.62	1.95	18.77	20.65	23.75	32.28	52.31	29.69	28.32	32.76
Total Debt/Capital (%)	- -	2.32	9.8	42.68	37.01	41.48	60.88	72.77	58.96	66.38	86.34
Total Debt/Total Assets (%)	- -	1.83	1.37	8.63	8.05	11.17	12.99	17.66	12.42	12.65	13.53
Net Debt to Equity	- -	0.58	-2.88	7.69	0.68	9.08	15.65	18.64	-0.19	6.74	14.83
Net Debt/Capital (%)	- -	0.53	-19.09	23.37	1.89	21.32	41.08	46.77	-0.89	30.66	68.05
EBITDA	1,041	2,006	1,576	929	2,374	2,957	1,445	1,081	2,703	1,948	405
EBITDA-CapEx	1,041	2,006	1,576	929	2,374	2,957	1,445	1,081	2,703	1,948	405
Operating Income (Loss)	15	1,052	796	211	1,622	2,224	732	428	2,039	1,331	-227

Liquidity	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Cash Ratio	- -	0.1	0.23	0.3	0.42	0.38	0.34	0.58	0.56	0.45	0.31
Current Ratio	- -	1.07	1.07	1.13	1.3	1.48	1.38	1.64	1.56	1.75	1.45
Quick Ratio	- -	0.36	0.44	0.6	0.74	0.72	0.6	0.78	0.84	0.76	0.58
CFO/Avg Current Liab	- -	0.62	0.34	-0.12	0.4	0.15	0.25	0.15	0.31	0.26	0.03
Common Equity/Total Assets	- -	63.78	- -	-0.61	0.66	3.55	-3.78	-4.87	-2.08	-3.85	-9.12
Long-Term Debt/Equity (%)	- -	2.39	1.8	18.5	20.42	23.73	32.26	50.74	28.49	28.3	31.41
Long-Term Debt/Capital (%)	- -	2.12	9.02	42.06	36.58	41.46	60.85	70.58	56.56	66.35	82.78
Long-Term Debt/Total Assets (%)	- -	1.68	1.26	8.51	7.96	11.16	12.98	17.13	11.91	12.64	12.97
Total Debt/Equity (%)	- -	2.62	1.95	18.77	20.65	23.75	32.28	52.31	29.69	28.32	32.76
Total Debt/Capital (%)	- -	2.32	9.8	42.68	37.01	41.48	60.88	72.77	58.96	66.38	86.34
Total Debt/Total Assets (%)	- -	1.83	1.37	8.63	8.05	11.17	12.99	17.66	12.42	12.65	13.53
CFO/Total Liabilities	- -	15.02	17.86	-3.44	11.49	5.24	7.84	4	10.53	10.06	1.1
CFO/CapEx	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Altman's Z-Score	- -	1.57	1.34	0.96	1.61	1.8	1.18	1.06	2.13	1.87	1.12

Working Capital	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Accounts Receivable Turnover	- -	55.47	26.23	17.78	15.76	16.34	15.16	18.26	19.79	16.22	14.72
Days Sales Outstanding	- -	6.58	13.92	20.53	23.16	22.34	24.07	19.99	18.44	22.5	24.8
Inventory Turnover	- -	14.05	6.76	6.76	6.85	6.14	4.93	5.24	5.46	4.66	4.28
Days Inventory Outstanding	- -	25.97	53.97	54.03	53.28	59.4	74.03	69.67	66.87	78.33	85.27
Accounts Payable Turnover	- -	13.85	5.59	5.55	5.51	5.85	5.31	5.35	6.31	6.23	5.5
Accounts Payable Turnover Days	- -	26.35	65.35	65.76	66.2	62.37	68.68	68.22	57.83	58.61	66.37
Cash Conversion Cycle	- -	6.2	2.53	8.79	10.24	19.37	29.42	21.43	27.49	42.22	43.7
Inventory to Cash Days	- -	-19.39	-40.05	-33.5	-30.12	-37.05	-49.96	-49.68	-48.43	-55.83	-60.47
Inventories	- -	1,501	1,172	1,160	1,453	1,819	1,644	1,398	1,956	2,427	2,158
Raw Materials	- -	451	525	500	620	675	611	553	794	1,108	930
Work In Process	- -	241	206	220	258	189	282	112	257	350	287
Finished Goods	- -	231	168	226	296	346	305	321	529	385	355
Other Inventory	- -	578	445	429	585	916	446	412	376	584	586

Enterprise Value	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Market Capitalization	4,083	6,140	3,878	4,958	9,610	4,788	3,860	4,145	10,765	8,022	5,991
- Cash & Cash Equivalents	- -	266	557	853	1,358	1,113	879	1,607	1,814	1,363	944
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	2,474	2,071	2,043	2,275	1,970	1,774	1,705	1,612	1,513	1,594
+ Total Debt	- -	342	225	1,445	1,404	1,802	1,900	2,624	1,866	1,866	1,915
Enterprise Value	4,083	8,690	5,617	7,593	11,931	7,447	6,655	6,867	12,429	10,038	8,556
Total Capital	- -	14,731	2,296	3,386	3,794	4,344	3,121	3,606	3,165	2,811	2,218
Total Debt/Capital (%)	- -	2.32	9.8	42.68	37.01	41.48	60.88	72.77	58.96	66.38	86.34
Total Debt / EV	- -	0.04	0.04	0.19	0.12	0.24	0.29	0.38	0.15	0.19	0.22
EV/Sales	0.32	0.66	0.5	0.81	1.02	0.56	0.64	0.74	1.02	0.81	0.81
EV/EBITDA	3.92	4.33	3.56	8.17	5.03	2.52	4.61	6.35	4.6	5.15	21.13
EV/EBIT	272.19	8.26	7.06	35.98	7.36	3.35	9.09	16.04	6.1	7.54	- -
EV/Cash Flow to Firm	5.3	3.42	3.83	36.5	9.35	14.46	7.22	17.97	12.27	12.13	36.78
EV/Free Cash Flow to Firm	5.3	3.42	3.83	36.5	9.35	14.46	7.22	17.97	12.27	12.13	36.78
Diluted Market Cap	4,083	6,140	3,878	4,958	9,744	4,847	3,860	4,145	10,969	8,022	5,991
Diluted Enterprise Value	4,083	8,690	5,617	7,593	12,065	7,506	6,655	6,867	12,633	10,038	8,556
EV per Share	22.47	47.64	30.79	41.6	64.7	39.99	35.88	36.94	66.69	55.57	47.98
TTM Sales	12,573	13,147	11,199	9,318	11,652	13,403	10,433	9,286	12,152	12,451	10,551
TTM EBITDA	1,041	2,006	1,576	929	2,374	2,957	1,445	1,081	2,703	1,948	405
TTM Operating Income	15	1,052	796	211	1,622	2,224	732	428	2,039	1,331	-227
TTM Cash Flow to Firm	771	2,544	1,467	208	1,277	515	922	382	1,013	828	233
TTM Free Cash Flow to Firm	771	2,544	1,467	208	1,277	515	922	382	1,013	828	233

Multiples	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y
Price/Earnings	- -	- -	- -	- -	34.44	19.15	- -	- -	25.09	- -	- -
Price/Earnings Average	-1.13	-21.88	-5.28	-9.97	24.49	31.86	-3.78	-14.16	16.26	-81.09	-9.59
Price/Earnings High	-1.51	-28.44	-8.13	-14.76	36.1	46.45	-5.19	-26.43	26.76	-144.06	-15.78
Price/Earnings Low	-1.07	-15.75	-3.71	-6.3	18.62	18.63	-2.71	-5.64	7.52	-49.27	-6.32
Price/Book Value	- -	0.52	- -	-48.61	83.57	8.37	-6.98	-5.73	-34.39	-14.12	-4.64
Price/Book Value Average	- -	0.47	- -	-39.08	59.42	13.92	-7.69	-3.33	-22.29	-17.56	-4.84
Price/Book Value High	- -	0.61	- -	-57.89	87.58	20.3	-10.55	-6.21	-36.67	-31.2	-7.96
Price/Book Value Low	- -	0.34	- -	-24.71	45.17	8.14	-5.52	-1.33	-10.3	-10.67	-3.19
Price/Tangible Book Value	- -	0.48	0.34	0.67	1.46	0.65	0.68	0.86	1.76	1.25	1.06
Price/Tangible Book Value Average	- -	0.44	0.4	0.54	1.04	1.08	0.75	0.5	1.14	1.55	1.1
Price/Tangible Book Value High	- -	0.57	0.62	0.8	1.53	1.57	1.03	0.93	1.88	2.76	1.81
Price/Tangible Book Value Low	- -	0.31	0.28	0.34	0.79	0.63	0.54	0.2	0.53	0.94	0.73
Price/Sales	0.32	0.47	0.35	0.53	0.82	0.36	0.37	0.45	0.89	0.64	0.57
Price/Sales Average	0.26	0.43	0.41	0.43	0.59	0.59	0.41	0.26	0.57	0.8	0.59
Price/Sales High	0.35	0.55	0.63	0.63	0.86	0.87	0.56	0.48	0.94	1.42	0.97
Price/Sales Low	0.25	0.31	0.29	0.27	0.45	0.35	0.29	0.1	0.27	0.49	0.39
Price/Cash Flow	9.03	7.29	4.43	-15.94	7.85	10.69	5.63	10.52	11.7	9.76	65.84
Price/Cash Flow Average	7.26	6.65	5.21	-12.82	5.58	17.78	6.2	6.11	7.58	12.13	68.6
Price/Cash Flow High	9.74	8.65	8.02	-18.99	8.23	25.92	8.5	11.4	12.48	21.56	112.88
Price/Cash Flow Low	6.9	4.79	3.66	-8.11	4.24	10.4	4.45	2.43	3.5	7.37	45.2
Price/Free Cash Flow	9.03	7.29	4.43	-15.94	7.96	10.82	5.63	10.52	11.92	9.76	65.84
Price/Free Cash Flow Average	7.26	6.65	5.21	-12.82	5.66	18	6.2	6.11	7.73	12.13	68.6
Price/Free Cash Flow High	9.74	8.65	8.02	-18.99	8.34	26.24	8.5	11.4	12.71	21.56	112.88
Price/Free Cash Flow Low	6.9	4.79	3.66	-8.11	4.3	10.53	4.45	2.43	3.57	7.37	45.2
EV/Sales	0.32	0.66	0.5	0.81	1.02	0.56	0.64	0.74	1.02	0.81	0.81
EV/Sales Average	0.26	0.62	0.56	0.71	0.79	0.79	0.68	0.55	0.71	0.96	0.83
EV/Sales High	0.35	0.75	0.78	0.92	1.06	1.06	0.83	0.78	1.08	1.59	1.22
EV/Sales Low	0.25	0.5	0.44	0.55	0.65	0.55	0.56	0.4	0.4	0.65	0.63
EV/EBITDA	3.92	4.33	3.56	8.17	5.03	2.52	4.61	6.35	4.6	5.15	21.13
EV/EBITDA Average	3.15	4.06	4	7.13	3.86	3.59	4.88	4.75	3.2	6.15	21.75
EV/EBITDA High	4.23	4.9	5.55	9.19	5.22	4.83	5.97	6.67	4.86	10.13	31.7
EV/EBITDA Low	3	3.28	3.14	5.55	3.17	2.47	4.05	3.41	1.81	4.15	16.49
EV/EBIT	272.19	8.26	7.06	35.98	7.36	3.35	9.09	16.04	6.1	7.54	- -
EV/EBIT Average	218.74	7.75	7.91	31.38	5.64	4.78	9.63	11.98	4.24	9.01	-38.8
EV/EBIT High	293.38	9.35	11	40.47	7.64	6.42	11.79	16.86	6.45	14.83	-56.55
EV/EBIT Low	207.86	6.26	6.21	24.44	4.63	3.29	7.99	8.6	2.4	6.07	-29.42
Last Price	22.47	33.66	21.26	27.16	52.11	25.71	20.81	22.3	57.76	44.41	33.6
High Price

Alcoa Corporation

Profitability

Credit

Liquidity

Working Capital

Enterprise Value

Multiples