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Kaiser Aluminum

KALU Nasdaq Aluminum Financials FY2016–FY2025

Kaiser Aluminum's revenue rose 11.5% to $3.4 billion in fiscal 2025. Its operating margin was 5.6%, up from 3.7% a year earlier. Free cash flow was −$26 million. It paid out $51 million in dividends and buybacks. The diluted share count rose 1.9%.

Last close · Oct 23, 2026

$107.28

6.7%
Value it Compare
Revenue Total sales reported in the income statement.
$3.4B
11.5% vs prior year
Operating margin Operating income as a share of revenue.
5.6%
1.9 pts
Net income Profit after all expenses, interest and tax.
$113M
71.2%
Free cash flow Cash from operations minus capital spending.
−$25.5M
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
7.7%
2.9 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$1.8B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
8.3x
On $12.94 EPS (TTM)

What Kaiser Aluminum does

No business description yet.

Legal name
KAISER ALUMINUM CORPORATION
Fiscal year ends
December 31, 2025
Latest annual report
—
Accession · CIK
0001193125-26-059575
0000811596

Revenue and margins

Kaiser Aluminum had $3.4B of revenue in fiscal 2025, up 11.5% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2016 to 2025, diluted EPS grew 3.2% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was −$25.5M in fiscal 2025, −0.8% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Kaiser Aluminum returned $51.3M to shareholders in fiscal 2025. The diluted share count rose 1.9%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value Kaiser Aluminum yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of −$1.1B and divides by 16.6M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 8.3x · peers 12.6x · sector 20.6x.

Balance sheet

Cash, debt and the ratios that show how comfortably Kaiser Aluminum can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $303M$57.4M$82.4M$18.4M$7.0M
Debt incl. finance leases $1.0B$1.0B$1.1B$1.1B$1.1B
Net debt / EBITDA 4.8x8.9x4.2x4.5x3.4x
Debt / equity 1.5x1.7x1.5x1.4x1.3x
Interest coverage 1.3x0.1x2.6x2.6x3.8x
Current ratio 2.6x2.5x2.7x2.7x3.0x
Quick ratio 1.8x1.2x1.2x1.2x1.3x
Total assets $2.4B$2.3B$2.3B$2.4B$2.6B
Total liabilities $1.7B$1.7B$1.6B$1.7B$1.7B
Shareholders' equity $693M$631M$708M$743M$826M
Net debt (− = net cash) $741M$988M$972M$1.0B$1.1B

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$16.7M

7 insiders

Of sales under plans

0%

$0.0M

DateInsiderTradeSharesPriceValueFiling
Apr 29, 2026 Keith HarveyPresident & CEO, Director Sold 3,031 $173.13 $0.5M Form 4
Apr 29, 2026 Richard P. GrimleyDirector Sold 1,524 $171.52 $0.3M Form 4
Apr 28, 2026 Neal E WestEVP & CFO Sold 5,000 $173.29 $0.9M Form 4
Apr 27, 2026 Brett WilcoxDirector Sold 15,000 $174.44 $2.6M Form 4
Apr 27, 2026 Iulian GheorgheSVP - Adv Eng & Innovation Sold 175 $174.22 $0.0M Form 4
Apr 27, 2026 John Malcolm DonnanEVP, CAO and GC Sold 2,743 $178.20 $0.5M Form 4
Apr 27, 2026 Keith HarveyPresident & CEO, Director Sold 47,001 $175.09 $8.2M Form 4
Feb 23, 2026 John Malcolm DonnanEVP, CAO and GC Sold 18,461 $125.08 $2.3M Form 4
Feb 23, 2026 Neal E WestEVP & CFO Sold 5,000 $121.72 $0.6M Form 4
Nov 7, 2025 Blain TiffanyEVP - Sales & Marketing Sold 8,656 $93.92 $0.8M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✓ ✕ ✓
Cash from operations exceeds net income ✓ ✓ ✕
Debt fell relative to assets ✕ ✓ ✓
Current ratio rose ✓ ✓ ✓
Share count didn't rise ✕ ✕ ✕
Gross margin rose ✓ ✓ ✓
Revenue rose relative to assets ✕ ✕ ✓
F-score 6 / 96 / 97 / 9
Accruals ratio −6.3%−4.3%0.0%
Altman Z'' 2.712.733.31

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Kaiser Aluminum KALU $1.8B 11.5% 5.6% −0.8% 7.7% 8.3x 7
Century Aluminum CENX $3.3B 13.9% 6.3% 3.4% — 5.4x — Compare →
Alcoa AA $10.1B 7.9% — 4.4% 18.0% 7.9x 6 Compare →
Sylvamo SLVM $1.3B −11.2% 7.5% 1.3% 10.9% 17.4x 5 Compare →
Scotts Miracle-Gro SMG $3.5B −3.9% 10.5% 8.0% 13.4% 50.2x 6 Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $1.3B $1.4B $1.6B $1.5B $1.2B $2.6B $3.4B $3.1B $3.0B $3.4B
Gross profit $330M $312M $285M $299M $231M $274M $248M $359M $357M $442M
Research and development $10.2M $10.0M $9.8M $10.5M $9.1M $9.3M $9.3M $11.1M $12.0M $10.7M
Operating income $181M $155M $144M $126M $81.1M $64.4M $4.0M $123M $112M $189M
Interest expense $20.3M $22.2M $22.7M $24.6M $40.9M $49.5M $48.3M $46.9M $43.7M $50.1M
Pretax income $147M $133M $120M $80.4M $38.8M −$24.0M −$37.9M $83.0M $88.0M $150M
Income tax $55.5M $87.6M $28.3M $18.4M $10.0M −$5.5M −$8.3M $15.2M $22.3M $37.5M
Net income $91.7M $45.4M $91.7M $62.0M $28.8M −$18.5M −$29.6M $67.8M $65.7M $113M
Diluted EPS $5.09 $2.63 $5.43 $3.83 $1.81 −$1.17 −$1.86 $4.21 $4.02 $6.77
Diluted shares 0.02B 0.02B 0.02B 0.02B 0.02B 0.02B 0.02B 0.02B 0.02B 0.02B
Cash flow
Cash from operations $166M $142M $150M $232M $207M $79.4M −$63.1M $212M $167M $111M
Capital expenditure $76.1M $75.5M $74.1M $60.2M $51.9M $58.0M $143M $143M $181M $137M
Free cash flow $89.5M $66.0M $76.1M $172M $155M $21.4M −$206M $68.7M −$13.7M −$25.5M
Depreciation and amortization $36.0M $39.7M $43.9M $49.1M $52.2M $91.5M $107M $109M $116M $123M
Stock-based compensation $11.8M $13.3M $10.3M $9.8M $10.0M $12.9M $14.3M $16.1M $14.4M $18.5M
Acquisitions $0.0M $0.0M $43.2M $0.0M $0.0M $609M $0.0M $0.0M $0.0M $0.0M
Share buybacks $33.3M $79.5M $60.7M $44.2M $12.5M $0.0M $0.0M $0.0M $0.0M $0.0M
Dividends paid $32.4M $35.0M $37.7M $39.4M $43.4M $46.7M $50.1M $50.4M $50.7M $51.3M
Dividends and buybacks $65.7M $115M $98.4M $83.6M $55.9M $46.7M $50.1M $50.4M $50.7M $51.3M
Balance sheet
Cash and short-term investments $55.2M $51.1M $126M $264M $780M $303M $57.4M $82.4M $18.4M $7.0M
Total debt $369M $370M $370M $493M $838M $1.0B $1.0B $1.0B $1.0B $1.1B
Finance lease liabilities $0.0M $0.0M $0.0M $6.6M $8.1M $8.2M $7.1M $15.0M $15.4M $14.7M
Current assets $656M $657M $657M $780M $1.1B $1.2B $1.0B $990M $1.1B $1.3B
Current liabilities $165M $173M $206M $170M $158M $457M $419M $370M $401M $427M
Inventory $202M $208M $215M $178M $152M $405M $525M $551M $602M $725M
Property and equipment, net $531M $571M $612M $622M $627M $955M $1.0B $1.1B $1.2B $1.1B
Total assets $1.4B $1.4B $1.4B $1.5B $1.9B $2.4B $2.3B $2.3B $2.4B $2.6B
Total liabilities $639M $639M $679M $792M $1.1B $1.7B $1.7B $1.6B $1.7B $1.7B
Shareholders' equity $805M $746M $740M $734M $732M $693M $631M $708M $743M $826M
Margins
Gross margin 24.8% 22.3% 18.0% 19.7% 19.7% 10.5% 7.2% 11.6% 11.8% 13.1%
Operating margin 13.6% 11.1% 9.1% 8.3% 6.9% 2.5% 0.1% 4.0% 3.7% 5.6%
EBITDA margin 16.3% 14.0% 11.8% 11.5% 11.4% 6.0% 3.2% 7.5% 7.6% 9.2%
Net margin 6.9% 3.3% 5.8% 4.1% 2.5% −0.7% −0.9% 2.2% 2.2% 3.3%
FCF margin 6.7% 4.7% 4.8% 11.4% 13.2% 0.8% −6.0% 2.2% −0.5% −0.8%
Returns
Return on capital 11.2% 7.1% 10.7% 9.9% 6.8% 4.6% 0.2% 6.1% 4.8% 7.7%
Return on capital employed 15.4% 12.5% 11.8% 9.8% 5.3% 3.5% 0.2% 6.5% 5.7% 9.1%
Return on equity 11.6% 5.9% 12.3% 8.4% 3.9% −2.6% −4.5% 10.1% 9.1% 14.3%
Return on assets 6.8% 3.2% 6.5% 4.2% 1.7% −0.9% −1.3% 3.0% 2.8% 4.5%
Growth
Revenue growth −4.4% 5.0% 13.5% −4.5% −22.6% 123.6% 30.7% −9.9% −2.0% 11.5%
Net income growth — −50.5% 102.0% −32.4% −53.6% −164.2% — — −3.1% 71.2%
EPS growth — −48.3% 106.5% −29.5% −52.7% −164.6% — — −4.5% 68.4%
FCF growth −7.4% −26.3% 15.3% 126.2% −9.9% −86.2% −1,060.8% — −119.9% —
Share count change 4.8% −4.3% −2.2% −4.0% −1.8% −0.5% 0.4% 1.4% 1.2% 1.9%
Financial health
Net debt / EBITDA 1.4x 1.6x 1.3x 1.3x 0.5x 4.8x 8.9x 4.2x 4.5x 3.4x
Debt / equity 0.5x 0.5x 0.5x 0.7x 1.2x 1.5x 1.7x 1.5x 1.4x 1.3x
Interest coverage 8.9x 7.0x 6.3x 5.1x 2.0x 1.3x 0.1x 2.6x 2.6x 3.8x
Current ratio 4.0x 3.8x 3.2x 4.6x 7.1x 2.6x 2.5x 2.7x 2.7x 3.0x
Quick ratio 2.8x 2.6x 2.2x 3.5x 6.1x 1.8x 1.2x 1.2x 1.2x 1.3x
Capital allocation
Capex / revenue 5.7% 5.4% 4.7% 4.0% 4.4% 2.2% 4.2% 4.6% 6.0% 4.1%
Stock comp / revenue 0.9% 1.0% 0.7% 0.7% 0.9% 0.5% 0.4% 0.5% 0.5% 0.6%
Payouts / FCF 73.4% 173.5% 129.3% 48.6% 36.1% 218.2% — 73.4% — —
Quality scores
Piotroski F-score 7.0 5.0 6.0 6.0 5.0 5.0 2.0 6.0 6.0 7.0
Altman Z'' 4.6 4.5 4.3 4.5 4.6 2.8 2.2 2.7 2.7 3.3
Accruals ratio −5.5% −6.8% −4.2% −11.6% −10.5% −4.6% 1.4% −6.3% −4.3% 0.0%

Source: SEC EDGAR XBRL filings (CIK 0000811596). Data updated October 22, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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