AA Alcoa margins

Relative Growth: Rel. Growth: 48

Relative Strength: Rel. Strength: 28

Relative Valuation: Rel. Valuation: 96

Relative Profitability: Rel. Profitability: 65

Gross margin

21.9%

Operating margin

12.2%

EBITDA margin

17.1%

Net margin

10.7%

Using the latest TTM figures, Alcoa shows a gross margin of 21.9%, an operating margin of 12.2%, an EBITDA margin of 17.1%, and a net margin of 10.7%. Gross margin had the largest improvement, expanding by 3.5 percentage points, while the other available margins also increased.

AA margin history

Gross, operating, EBITDA and net margin trends

Over the last 3 years, Alcoa recorded average margins of 15.03% gross, 5.39% operating, 11.24% EBITDA, and 3.42% net. The current gross, operating, EBITDA, and net margins are all above their three-year averages.

AA margin expansion

Year-over-year margin changes in percentage points

Year over year, gross, operating, EBITDA, and net margins all increased, with gross margin showing the largest gain at 3.5 percentage points.

Gross margin expansion

3.5pp

Operating margin expansion

0.4pp

EBITDA margin expansion

0.3pp

Net margin expansion

1.8pp

AA Gross margin

The average gross margin for Alcoa was 15.03% over the last 3 years. As of the latest period, the current gross margin for Alcoa is 21.9%, 6.9 percentage points above its three-year average. The gross margin for Alcoa moved between 6.4% in Mar 2024 and 21.9% in Sep 2026.

AA Operating margin

Over the last 3 years, Alcoa had an average operating margin of 5.39%. Alcoa's current operating margin is 12.2% and is 6.8 percentage points above its three-year average. Looking back over the last 3 years, Alcoa's operating margin reached 12.2% at its highest point in Sep 2026 and -5.9% at its lowest in Mar 2024.

AA EBITDA margin

Alcoa's EBITDA margin averaged 11.24% during the last 3 years. Compared with its three-year average, Alcoa's current EBITDA margin is 17.1% and is 5.9 percentage points above its three-year average. Over the last 3 years, Alcoa's EBITDA margin peaked at 17.1% in Sep 2026 and reached a low of 1.9% in Mar 2024.

AA Net margin

Across the last 3 years, Alcoa's net margin averaged 3.42%. Against its three-year average, Alcoa's net margin is currently 10.7%, 7.3 percentage points above its three-year average. Net margin was highest at 10.7% in Sep 2026 and lowest at -6.4% in Mar 2024.

AA margin group comparison

Margins compared with peer-group, industry and sector averages

Alcoa's gross margin of 21.9% is above the industry average but below the Basic Materials sector average. In comparison with its Basic Materials sector average of 32%, Alcoa's gross margin is 32% lower.

AA margin peer comparison

Compare margins with selected peers

Frequently asked questions

What is Alcoa's gross margin?

For the period ending Sep 30, 2026, AA recorded a gross margin of 21.9%.

What is Alcoa's operating margin?

As of Sep 30, 2026, AA has an operating margin of 12.2%.

What is Alcoa's EBITDA margin?

As of Sep 30, 2026, AA has an EBITDA margin of 17.1%.

What is Alcoa's net margin?

For the period ending Sep 30, 2026, AA recorded a net margin of 10.7%.

What are the average margins of AA?

The three-year average margins for AA were 15.0% gross, 5.4% operating, 11.2% EBITDA, and 3.4% net.

What are the highest historical margins of AA?

In the last 5 years, the highest margins reported by AA were 28.1% gross in Mar 2022, 16.7% operating in Jun 2022, 19.5% EBITDA in Jun 2022, and 10.7% net in Sep 2026.

What are the lowest historical margins of AA?

Across the 5-year period, AA posted its lowest margins at 6% gross in Sep 2023, -10.5% operating in Jun 2023, -4.4% EBITDA in Jun 2023, and -13.6% net in Jun 2023.