AA Alcoa margins

Relative Growth: Rel. Growth: 48

Relative Strength: Rel. Strength: 26

Relative Valuation: Rel. Valuation: 94

Relative Profitability: Rel. Profitability: 59

Gross margin

18.8%

Operating margin

8.9%

EBITDA margin

14.9%

Net margin

9.4%

Using the latest TTM figures, Alcoa shows a gross margin of 18.8%, an operating margin of 8.9%, an EBITDA margin of 14.9%, and a net margin of 9.4%. Margin expansion was strongest in net margin, which rose by 1.5 percentage points. Operating margin had the strongest contraction, falling by 3 percentage points.

AA margin history

Gross, operating, EBITDA and net margin trends

Over the last 3 years, Alcoa recorded average margins of 14.4% gross, 4.55% operating, 10.71% EBITDA, and 2.75% 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

Net margin expanded by 1.5 percentage points, but gross margin contracted by 1.4 percentage points, operating margin by 3 percentage points, and EBITDA margin by 2.1 percentage points.

Gross margin expansion

-1.4pp

Operating margin expansion

-3pp

EBITDA margin expansion

-2.1pp

Net margin expansion

1.5pp

AA Gross margin

The average gross margin for Alcoa was 14.4% over the last 3 years. As of the latest period, the current gross margin for Alcoa is 18.8%, 4.4 percentage points above its three-year average. The gross margin for Alcoa moved between 6.4% in Mar 2024 and 20.4% in Mar 2025.

AA Operating margin

Over the last 3 years, Alcoa had an average operating margin of 4.55%. Alcoa's current operating margin is 8.9% and is 4.4 percentage points above its three-year average. Looking back over the last 3 years, Alcoa's operating margin reached 11.9% at its highest point in Jun 2025 and -5.9% at its lowest in Mar 2024.

AA EBITDA margin

Alcoa's EBITDA margin averaged 10.71% during the last 3 years. Compared with its three-year average, Alcoa's current EBITDA margin is 14.9% and is 4.2 percentage points above its three-year average. Over the last 3 years, Alcoa's EBITDA margin peaked at 17% in Jun 2025 and reached a low of 1.9% in Mar 2024.

AA Net margin

Across the last 3 years, Alcoa's net margin averaged 2.75%. Against its three-year average, Alcoa's net margin is currently 9.4%, 6.7 percentage points above its three-year average. Net margin was highest at 9.4% in Jun 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 18.8% is above the industry average but below the Basic Materials sector average. In comparison with its Basic Materials sector average of 32.3%, Alcoa's gross margin is 42% lower.

AA margin peer comparison

Compare margins with selected peers

Frequently asked questions

What is Alcoa's gross margin?

For the period ending Jun 30, 2026, AA recorded a gross margin of 18.8%.

What is Alcoa's operating margin?

As of Jun 30, 2026, AA has an operating margin of 8.9%.

What is Alcoa's EBITDA margin?

As of Jun 30, 2026, AA has an EBITDA margin of 14.9%.

What is Alcoa's net margin?

For the period ending Jun 30, 2026, AA recorded a net margin of 9.4%.

What are the average margins of AA?

The three-year average margins for AA were 14.4% gross, 4.6% operating, 10.7% EBITDA, and 2.8% 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 9.4% net in Jun 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.