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Kaiser Aluminum Corp (KALU) stock

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NASDAQ: KALU Nasdaq Aluminum Next results ~January 20, 2027

C+ Fundamentals grade

Kaiser Aluminum Corp is a US-listed company in the aluminum industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

Under review: after-tax interest is 72% of the cash flow left for shareholders; our flat discount rate doesn't yet reflect debt this heavy.

Price vs value

Under review: after-tax interest is 72% of the cash flow left for shareholders; our flat discount rate doesn't yet reflect debt this heavy. We'll show the comparison once resolved.

Kaiser Aluminum Corp valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 7 selling0 purchases and 10 sales by directors and officers, last 12 monthsInsider trades
  • Funds189 adding, 130 cuttingOf 56 active managers that changed their stake, 33 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Kaiser Aluminum files

Where Kaiser Aluminum stands after its latest 10-Q

Revenue for the twelve months to September 2026 was $4.51bn, up 40.4% on a year earlier, faster than the 32.8% growth a quarter earlier. That growth ranks 87 of 1447 among all the companies we cover. Free-cash-flow margin rose to 2.8% from 0.4% a year earlier. Operating margin widened to 7.7% from 5.2%. The diluted share count is up 2.8% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades C+. It passes 5 of our 7 financial-health checks.

Our model value for Kaiser Aluminum is under review, so past values are not shown until it is resolved.

Source: 10-Q filed October 22, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~January 20, 2027 (estimated)

Kaiser Aluminum Corp's trailing-twelve-month revenue grew 40.4% year on year, with a free-cash-flow margin of 2.8%. Where it stands out: revenue growth of 40.4% ranks 32 of 170 materials companies we cover. Where it lags: gross margin of 13.4% ranks 121 of 151 materials companies we cover.

Our discounted-cash-flow model values the business at ~$110 per share in the base case (~$71–$170 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 860.0% while net income grew 109.9%: a 750pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 40.4% over the last 12 months, against a median of 8.3% for materials companies we cover.
  • Growth speeding up. The growth rate is 7.6 points higher than a quarter earlier.

Things to watch

  • Share dilution. Diluted shares rose 2.8% in a year.
  • Volatile shares. Over the past year the shares showed annualised volatility of 55% and a beta of 1.9 against the S&P 500.
  • Insiders selling. 7 insiders sold $17M of stock over the past 365 days and none bought (0% under pre-set trading plans).
  • Weak cash conversion. Free cash flow was 57% of net income over the last 12 months.
  • Below peers: gross margin. Gross margin of 13.4% ranks 121 of 151 materials companies we cover (median 26.1%).
  • Below peers: long-term debt as % of assets. Long-term debt as % of assets of 35.6% ranks 113 of 147 materials companies we cover (median 22.8%).

Latest results: FY2026 Q3

Filed October 22, 2026
Earnings per share
$1.89 against an average estimate of $2.37: missed by 20.2%
Revenue
$1.21bn, up 44.0% on a year earlier
Share reaction
-24.6% in the first session after the results on October 21, 2026, against -0.7% for the S&P 500
Guidance given
conversion Revenue growth growth 10% to 15% (balance of 2026); adjusted EBITDA growth growth 45% to 55% (2026 compared to 2025)
Next report
October 21, 2026; average EPS estimate $1.60

Kaiser Aluminum's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-0.1%
  • 1 week+10.1%
  • 1 month-23.1%
  • This year+3.3%
  • 1 year+31.1%
  • 5 years+37.4%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$4.5B
Operating margin
7.7%
Net margin
4.8%
EPS (TTM, diluted)
$12.92

Growth

Revenue growth
+40.4%
Change in growth rate
+7.6 pts
Share count change
+2.8%

Cash

Free cash flow (TTM)
$125M
FCF margin
2.8%
Stock pay % of revenue
0.4%

Earnings

Last results
October 21, 2026
Next results (est.)
January 20, 2027

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Our research
  2. Results
  3. Guidance
  4. Dividend
  5. Announcement
  6. Announcement
  7. Leadership
  8. Results
  9. Announcement

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Kaiser Aluminum Corp valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: held for review: after-tax interest is 72% of the cash flow left for shareholders; our flat discount rate doesn't yet reflect debt this heavy.

The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.

Valuation models

We value Kaiser Aluminum Corp as an operating company, with every model that fits that kind of business. Cost of equity 10.6%: the 10-year Treasury yield (4.9%) plus a beta of 1.25 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. — Does not apply: This model is withheld pending its input or assumption review.
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. — Does not apply: This model is withheld pending its input or assumption review.
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$110 ~$86–$250 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$58 ~$44–$75 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$56 ~$50–$65 Included
Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. — Combined value withheld. Review the individual models and their assumptions.

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Kaiser Aluminum Corp with Materials sector in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$59.59$56.93$80.06$68.31$86.93$80.35$78.39$65.71$64.30$66.07$112.41$116.12
Market value$1.0bn$1.0bn$1.4bn$1.2bn$1.4bn$1.3bn$1.2bn$1.0bn$1.0bn$1.1bn$1.9bn$2.0bn
+ Net debt (− = net cash)$122m$314m−$51m$245m$228m$58m$733m$981m$957m$1.0bn$1.1bn$921m
Enterprise value$1.1bn$1.3bn$1.3bn$1.4bn$1.6bn$1.3bn$2.0bn$2.0bn$2.0bn$2.1bn$2.9bn$2.9bn
Multiples
Price / sales 0.7x0.8x1.0x0.7x0.9x1.1x0.5x0.3x0.3x0.4x0.6x0.4x
Price / earnings —11.2x30.4x12.6x22.7x44.4x——15.3x16.4x16.6x9.0x
Price / free cash flow 10.6x11.5x20.9x15.1x8.2x8.2x58.0x—15.1x——15.7x
EV / EBITDA —6.2x6.8x7.5x9.4x10.0x12.7x18.3x8.6x9.2x9.4x6.2x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

35 /100

Weak moat

How hard Kaiser Aluminum's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 3 / 20

    Net income has been a median 3.5% of total assets over 10 years.

  • Pricing power 5 / 20

    Gross margin has been a median 13.1%, moving by 4.8 percentage points (standard deviation) across 10 years.

  • Durability 3 / 20

    Operating margin has been a median 5.4%; its worst year was 1.2%.

  • Cash conversion 9 / 20

    Free cash flow was positive in 8 of 10 years, at a median 2.5% of revenue.

  • Discipline 15 / 20

    The diluted share count rose 6.2% over five years; stock-based pay has been a median 0.6% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $12.77 +112% $4.7bn +40%
Next $11.12 −13% $4.7bn +0%

Next year's EPS estimate has moved −1.5% in 90 days, across 5 analysts.

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 $2.37 $1.89 −20.2%
Jun 2026 $2.66 $5.53 +107.8%
Mar 2026 $1.96 $3.74 +90.5%
Dec 2025 $1.56 $1.53 −2.0%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, October 21, 2026
  • Conversion Revenue growth balance of 2026 10% growth to 15% growth Maintained
    “For the balance of 2026, the Company continues to expect Conversion Revenue growth at the high end of its 10% to 15% outlook, reflecting continued end-market strength and favorable pricing and mix.” source
  • Adjusted EBITDA growth 2026 compared to 2025 45% growth to 55% growth Non-GAAP Maintained
    “While the Company is maintaining its Adjusted EBITDA growth outlook of 45% to 55% compared to 2025, results are now expected toward the lower end of the range due to planned operational outages, execution performance, customer year-end inventory alignment and metal-related headwinds.” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

Analyst recommendations

5 analysts, Oct 2026
Buy360%
Hold240%
Sell00%

Monthly trend

  1. Oct 20261225
  2. Sep 20262114
  3. Aug 20262114
  4. Jul 202611114

Counts of recommendations published by analysts covering Kaiser Aluminum Corp, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
7.1%
of tradable shares
Days to cover
4.23
at average volume
Short interest, 1 month
+4%
to September 30, 2026
Held by institutions
—
of shares
Held by insiders
1.5%
of shares
Employees
3,800
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +31.1%

$88.60 on October 31, 2025 to $116.12

ThenNowEffect
Revenue (last 12 months) $3.1bn $4.1bn +32.8%
Net margin 2.4% 5.5% +132.8%
P/E multiple 19.8x 8.6x −56.4%
Share count 16m 17m −2.7%

Biggest factor: net margin.

Last 3 years +118.4%

$53.17 on November 3, 2023 to $116.12

ThenNowEffect
Revenue (last 12 months) $3.1bn $4.1bn +31.4%
Net margin 0.3% 5.5% +1576.7%
P/E multiple 82.4x 8.6x −89.5%
Share count 16m 17m −5.2%

Biggest factor: net margin.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
KALU−2%−16%−2%+3%+70%+3%
Industry peers (median)+50%−34%+48%+12%+84%−14%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
KALU42%50%42%50%75%46%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
KALU−35%−41%−40%−34%−33%−46%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 59% from May 11, 2021 to April 8, 2025. Getting back needed a 141% gain, reached on December 26, 2025, 262 days after the low.

Price behaviour

52-week range
$87.71 – $193.49
From 52-week high
−40.0%
vs 50-day average
−20.9%
vs 200-day average
−23.4%
Volatility (1 year)
55%
Beta vs S&P 500
1.95

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
5 up, 7 down
typical move ±10.5%
After a week
5 up, 7 down
typical move ±11.2%
After a month
6 up, 5 down
typical move ±15.0%
Results releasedNext dayS&P 500 next day5 days21 days
October 21, 2026 −24.6% −0.7% −20.2% —
July 22, 2026 +9.9% −1.3% −7.5% −7.6%
April 22, 2026 +7.6% +0.6% +13.1% +11.1%
February 18, 2026 −9.6% +0.2% −6.0% −20.3%
October 22, 2025 +16.8% +0.1% +17.1% +13.3%
July 23, 2025 −4.7% +0.9% −15.0% −17.3%
April 23, 2025 +11.6% +3.7% +16.6% +26.3%
April 2, 2025 −10.3% −4.3% −8.0% +17.5%
February 19, 2025 +5.0% −0.2% −0.7% −3.0%
October 23, 2024 −5.9% −0.7% +8.5% +14.8%
July 24, 2024 −19.0% −2.8% −18.4% −26.5%
April 24, 2024 −0.4% −0.4% +3.4% +7.4%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Kaiser Aluminum Corp in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Kaiser Aluminum Corp
$2.5B $3B $3.5B $4B $4.5B $5B FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $3.1B Revenue (TTM), FY24 Q1: $3B Revenue (TTM), FY24 Q2: $3B Revenue (TTM), FY24 Q3: $3B Revenue (TTM), FY24 Q4: $3B Revenue (TTM), FY25 Q1: $3.1B Revenue (TTM), FY25 Q2: $3.1B Revenue (TTM), FY25 Q3: $3.2B Revenue (TTM), FY25 Q4: $3.4B Revenue (TTM), FY26 Q1: $3.7B Revenue (TTM), FY26 Q2: $4.1B Revenue (TTM), FY26 Q3: $4.5B $4.5B

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $3.1B
FY24 Q1 $3B
FY24 Q2 $3B
FY24 Q3 $3B
FY24 Q4 $3B
FY25 Q1 $3.1B
FY25 Q2 $3.1B
FY25 Q3 $3.2B
FY25 Q4 $3.4B
FY26 Q1 $3.7B
FY26 Q2 $4.1B
FY26 Q3 $4.5B
Revenue growth, TTM YoY Kaiser Aluminum Corp
-20% 0% 20% 40% 60% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: -9.9% Revenue growth, TTM YoY, FY24 Q1: -8.2% Revenue growth, TTM YoY, FY24 Q2: -5.4% Revenue growth, TTM YoY, FY24 Q3: -5.1% Revenue growth, TTM YoY, FY24 Q4: -2.0% Revenue growth, TTM YoY, FY25 Q1: 1.6% Revenue growth, TTM YoY, FY25 Q2: 4.6% Revenue growth, TTM YoY, FY25 Q3: 7.7% Revenue growth, TTM YoY, FY25 Q4: 11.5% Revenue growth, TTM YoY, FY26 Q1: 20.8% Revenue growth, TTM YoY, FY26 Q2: 32.8% Revenue growth, TTM YoY, FY26 Q3: 40.4% 40.4%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 -9.9%
FY24 Q1 -8.2%
FY24 Q2 -5.4%
FY24 Q3 -5.1%
FY24 Q4 -2.0%
FY25 Q1 1.6%
FY25 Q2 4.6%
FY25 Q3 7.7%
FY25 Q4 11.5%
FY26 Q1 20.8%
FY26 Q2 32.8%
FY26 Q3 40.4%
Operating margin (TTM) Kaiser Aluminum Corp
2% 4% 6% 8% 10% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Operating margin (TTM), FY23 Q4: 4.0% Operating margin (TTM), FY24 Q1: 4.2% Operating margin (TTM), FY24 Q2: 4.3% Operating margin (TTM), FY24 Q3: 4.1% Operating margin (TTM), FY24 Q4: 3.7% Operating margin (TTM), FY25 Q1: 4.2% Operating margin (TTM), FY25 Q2: 4.2% Operating margin (TTM), FY25 Q3: 5.2% Operating margin (TTM), FY25 Q4: 5.6% Operating margin (TTM), FY26 Q1: 6.6% Operating margin (TTM), FY26 Q2: 8.2% Operating margin (TTM), FY26 Q3: 7.7% 7.7%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q4 4.0%
FY24 Q1 4.2%
FY24 Q2 4.3%
FY24 Q3 4.1%
FY24 Q4 3.7%
FY25 Q1 4.2%
FY25 Q2 4.2%
FY25 Q3 5.2%
FY25 Q4 5.6%
FY26 Q1 6.6%
FY26 Q2 8.2%
FY26 Q3 7.7%
FCF margin (TTM) Kaiser Aluminum Corp
-2% 0% 2% 4% 6% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: 2.2% FCF margin (TTM), FY24 Q1: 5.4% FCF margin (TTM), FY24 Q2: 4.0% FCF margin (TTM), FY24 Q3: 1.7% FCF margin (TTM), FY24 Q4: -0.5% FCF margin (TTM), FY25 Q1: -0.9% FCF margin (TTM), FY25 Q2: -1.2% FCF margin (TTM), FY25 Q3: 0.4% FCF margin (TTM), FY25 Q4: -0.8% FCF margin (TTM), FY26 Q1: 0.7% FCF margin (TTM), FY26 Q2: 2.1% FCF margin (TTM), FY26 Q3: 2.8% 2.8%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 2.2%
FY24 Q1 5.4%
FY24 Q2 4.0%
FY24 Q3 1.7%
FY24 Q4 -0.5%
FY25 Q1 -0.9%
FY25 Q2 -1.2%
FY25 Q3 0.4%
FY25 Q4 -0.8%
FY26 Q1 0.7%
FY26 Q2 2.1%
FY26 Q3 2.8%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Kaiser Aluminum took in during FY2025, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $3.4B
  2. Cost of revenue $2.9B · 86.9%
  3. Gross profit $442M · 13.1%
  4. Other operating costs $243M · 7.2%
  5. Operating income $189M · 5.6%
  6. Income tax $37.5M · 1.1%
  7. Interest and other $38.8M · 1.2%
  8. Net income $113M · 3.3%

Shares of revenue. Source: Kaiser Aluminum's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Sept 2026
Income
Revenue 987 1,079 1,301 1,360 1,298 1,356 1,392 1,331 1,398 1,586 1,514 1,173 2,622 3,428 3,087 3,024 3,373 4,507
Gross profit — — — — — — — 330 312 285 299 231 274 248 359 357 442 602
EBITDA 135 61 80 192 201 169 −314 217 195 188 175 133 156 111 231 229 311 466
Operating income 119 41 55 166 173 138 −346 181 155 144 126 81 64 4 123 112 189 347
Net income 71 12 25 86 105 72 −237 92 45 92 62 29 −19 −30 68 66 113 219
Diluted EPS $3.51 $0.61 $1.32 $4.45 $5.44 $3.86 −$13.76 $5.09 $2.63 $5.43 $3.83 $1.81 −$1.17 −$1.86 $4.21 $4.02 $6.77 $12.92
Growth (year on year)
Revenue −34.6% +9.3% +20.6% +4.5% −4.6% +4.5% +2.6% −4.4% +5.0% +13.5% −4.5% −22.5% +123.6% +30.7% −9.9% −2.0% +11.5% +40.4%
EBITDA — −54.9% +31.7% +139.9% +4.7% −16.1% −285.5% — −10.2% −3.8% −6.8% −23.7% +17.0% −28.9% +108.4% −1.1% +36.2% +61.9%
Operating income — −65.4% +33.8% +201.6% +4.5% −20.4% −350.8% — −14.3% −7.5% −12.5% −35.5% −20.6% −93.8% — −8.4% +68.3% +108.3%
Net income — −83.0% — — +22.1% −31.5% −429.5% — −50.5% +102.0% −32.4% −53.5% −164.2% — — −3.1% +71.2% +109.9%
Diluted EPS — −82.6% — — +22.2% −29.0% −456.5% — −48.3% +106.5% −29.5% −52.7% −164.6% — — −4.5% +68.4% +104.2%
Margins
Gross margin — — — — — — — 24.8% 22.3% 18.0% 19.7% 19.7% 10.4% 7.2% 11.6% 11.8% 13.1% 13.4%
EBITDA margin 13.7% 5.6% 6.2% 14.1% 15.5% 12.5% −22.5% 16.3% 13.9% 11.8% 11.5% 11.4% 5.9% 3.2% 7.5% 7.6% 9.2% 10.3%
Operating margin 12.0% 3.8% 4.2% 12.2% 13.4% 10.2% −24.9% 13.6% 11.1% 9.1% 8.3% 6.9% 2.5% 0.1% 4.0% 3.7% 5.6% 7.7%
Net margin 7.1% 1.1% 1.9% 6.3% 8.1% 5.3% −17.0% 6.9% 3.2% 5.8% 4.1% 2.5% −0.7% −0.9% 2.2% 2.2% 3.3% 4.8%
Free-cash-flow margin 6.9% 2.5% 2.3% 8.0% 3.2% 4.8% 6.9% 6.7% 4.7% 4.8% 11.4% 13.2% 0.8% −6.0% 2.2% −0.5% −0.8% 2.8%
Cash flow
Cash from operations 128 66 63 152 112 124 160 166 142 150 232 207 79 −63 212 167 111 228
Capital spending 59 39 33 44 70 59 63 76 76 74 60 52 58 143 143 181 137 103
Free cash flow 69 27 30 108 41 65 97 90 66 76 172 155 21 −206 69 −14 −26 125
Stock-based pay 9 5 5 6 7 7 10 12 13 10 10 10 13 14 16 14 19 19
Free cash flow after stock pay 59 23 25 103 35 58 87 78 53 66 162 145 9 −220 53 −28 −44 106
Balance sheet
Cash 30 273 50 273 170 178 73 55 51 126 264 780 303 57 82 18 7 117
Total debt 7 13 151 380 389 398 195 369 — 370 493 838 1,036 1,038 1,040 1,042 1,060 1,039
Net debt (negative = net cash) −23 −260 102 107 219 220 122 314 −51 245 228 58 733 981 957 1,023 1,053 921
Diluted shares 20m 19m 19m 19m 19m 19m 17m 18m 17m 17m 16m 16m 16m 16m 16m 16m 17m 17m
Returned to shareholders
Dividends 20 19 19 20 23 25 28 32 35 38 39 43 47 50 50 51 51 52
Buybacks 0 44 0 0 78 44 49 33 80 61 44 13 — — — — — —
Total returned 20 63 19 20 101 70 77 66 115 98 84 56 47 50 50 51 51 52

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

5 of 7 checks passed · September 30, 2026
What it owns · $2.9bn
Short-term assets $1.6bnLonger-term assets $1.3bn
What it owes, and who funded it · $2.9bn
Short-term liabilities $615mLonger-term liabilities $1.3bnShareholders' equity $976m
  • Short-term assets cover short-term liabilities $1.6bn of assets due within a year against $615m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $1.6bn short-term assets against $1.3bn of longer-dated liabilities.
  • More cash than debt $117m of cash against $1.0bn of debt.
  • Debt below 40% of shareholders' equity Debt is 106% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 146% to 106% over five years.
  • A year's operating cash flow covers at least 20% of debt $228m of operating cash flow against $1.0bn of debt.
  • Operating profit covers interest at least five times over Operating income of $347m against $57m of interest.

From Kaiser Aluminum Corp's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Dividends (TTM)
$52M
Diluted share count
+2.8%
year over year
Total shareholder yield
2.7%
dividends 2.7% + buybacks 0.0% of market value
Dividend payout ratio
24%
of net income paid out
Days sales outstanding
43 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in aluminum
Last 12 months unless stated KALU CENX CSTM AA Median
Revenue, last 12 months $4.5bn $2.7bn $10.0bn $14.3bn $7.3bn
Revenue growth, last 12 months 40.4% 9.7% 26.1% 11.2% 18.7%
Revenue growth, 3-year average 12.8% 5.1% — 10.5% 10.5%
Revenue growth, latest quarter 44.0% 19.7% 21.8% 23.7% 22.8%
Gross margin 13.4% 18.9% — — 16.1%
Operating margin 7.7% 25.3% — — 16.5%
Operating margin, 3-year average 5.7% 10.6% — — 8.1%
Net margin 4.8% 22.6% 5.7% 10.7% 8.2%
Cash from operations / revenue 5.0% 12.8% 6.3% 11.2% 8.8%
Free-cash-flow margin 2.8% 5.7% 3.2% 6.2% 4.4%
Free-cash-flow margin, 3-year average 1.6% 1.6% — 2.8% 1.6%
Stock pay / revenue 0.4% 1.7% 0.3% 0.4% 0.4%
Change in share count 2.8% 0.9% −2.1% 1.7% 1.3%

Median of all 4 companies we cover in aluminum. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

171 materials companies
Measure Company Peer median Rank
Revenue growth Growth 40.4% 8.3% 32 of 170
Change in growth rate Growth +7.6pp +2.4pp 46 of 168
Gross margin Profitability 13.4% 26.1% 121 of 151
Operating margin Profitability 7.7% 7.0% 66 of 140
Net margin Profitability 4.8% 3.8% 74 of 170
Free-cash-flow margin Cash generation 2.8% 5.0% 104 of 167
Stock pay as % of revenue Cash generation 0.4% 0.7% 47 of 137
Long-term debt as % of assets Balance sheet 35.6% 22.8% 113 of 147
Change in share count Balance sheet 2.8% 0.4% 111 of 161
Days sales outstanding Balance sheet 43 days 45 days 58 of 125

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue Share YoY
Packaging $1.5B 44.2% ▲ 18.1%
Aero Hs Products $838M 24.8% ▼ 5.1%
Ge Products $759M 22.5% ▲ 22.8%
Automotive Extrusions $286M 8.5% ▲ 13.7%
Other Products $0 0.0% ▼ 100.0%
Geography
Region Revenue Share YoY
United States $3.3B 96.4% ▲ 11.4%
Outside the US $121M 3.6% ▲ 16.3%

From Kaiser Aluminum Corp's 10-K filed February 19, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$3.2B
Institutions reporting
333
Shares held vs prior quarter
▲ 4.5%
Positions opened / closed
76 / 29

Top buyers and sellers, Q2 2026: 189 institutions bought and 130 sold ; the biggest buyer was Franklin Resources Inc (+266K shares) and the biggest seller Arrowstreet Capital, Limited Partnership (−184K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $562M 2.9M 17.3% ▲ 1.0%
Vanguard Portfolio Management LLC $276M 1.4M 8.5% ▲ 8.0%
State Street Corp $258M 1.3M 7.9% ▼ 1.2%
Dimensional Fund Advisors LP $152M 776K 4.7% ▼ 5.2%
Vanguard Capital Management LLC $138M 707K 4.3% ▲ 5.6%
Nomura Asset Management International Inc. $133M 679K 4.1% ▼ 4.9%
Geode Capital Management, LLC $92.3M 472K 2.8% ▲ 16.8%
American Century Companies Inc $86.1M 440K 2.6% ▼ 8.1%
Barrow Hanley Mewhinney & Strauss LLC $82M 419K 2.5% ▼ 21.0%
Fisher Asset Management, LLC $69M 353K 2.1% ▲ 15.8%
First Eagle Investment Management, LLC $54.2M 277K 1.7% ▲ 150.0%
Franklin Resources Inc $53.3M 272K 1.6% ▲ 4181.5%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Kaiser Aluminum Corp's complete shareholder register. Values are as reported by the filers ; 1 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $16.7M 10 trades by 7 insiders · 0% under pre-set plans
Net ▼ $16.7M net selling
Insider Date Trade Shares Price Value
Harvey Keith President & CEO April 29, 2026 Sell 3,031 $173.13 $524,757
Grimley Richard P. Director April 29, 2026 Sell 1,524 $171.52 $261,396
West Neal E EVP & CFO April 28, 2026 Sell 5,000 $173.29 $866,450
Harvey Keith President & CEO April 27, 2026 Sell 47,001 $175.09 $8.2M
Gheorghe Iulian SVP - Adv Eng & Innovation April 27, 2026 Sell 175 $174.22 $30,488
Donnan John Malcolm EVP, CAO and GC April 27, 2026 Sell 2,743 $178.20 $488,803
Wilcox Brett Director April 27, 2026 Sell 15,000 $174.44 $2.6M
West Neal E EVP & CFO February 23, 2026 Sell 5,000 $121.72 $608,600
Donnan John Malcolm EVP, CAO and GC February 23, 2026 Sell 18,461 $125.08 $2.3M
Tiffany Blain EVP - Sales & Marketing November 7, 2025 Sell 8,656 $93.92 $812,972

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 2 trades and filings

No trades in Kaiser Aluminum Corp disclosed in the last 12 months; 2 earlier trades on record.

  • Thomas MacArthur(NJ):Sale (full), $15,001 - $50,000, traded February 1, 2016, filed March 3, 2016
  • Thomas MacArthur(NJ):Sale (full), $1,001 - $15,000, traded May 4, 2015, filed June 7, 2015

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around January 20, 2027 estimated from the company's past filing pattern, not announced

  • October 21, 2026
  • July 22, 2026
  • April 22, 2026
  • February 18, 2026
  • October 22, 2025
  • July 23, 2025

Recent SEC filings

Data status

When each part of this page on Kaiser Aluminum Corp was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Kaiser Aluminum Corp in brief

What does Kaiser Aluminum Corp do?
Kaiser Aluminum Corp is a US-listed company in the aluminum industry. Its financial year ends in December.
What is Kaiser Aluminum Corp's stock ticker?
Kaiser Aluminum Corp trades under the ticker KALU on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Kaiser Aluminum Corp's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Kaiser Aluminum Corp reported revenue of $4.5B, 40.4% higher than a year earlier, according to its SEC filings.
What is Kaiser Aluminum Corp's free cash flow?
Kaiser Aluminum Corp's free-cash-flow margin is 2.8% of revenue over the trailing twelve months, ranking 104 of the 167 materials companies we cover.
Who are Kaiser Aluminum Corp's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Portfolio Management LLC and State Street Corp. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Kaiser Aluminum Corp's market cap?
On November 2, 2026, Kaiser Aluminum Corp's market capitalisation was about $2B, with a price-to-earnings ratio of 9.0 and net debt of $921M. Market figures come from third-party market data and may be delayed.
Does Kaiser Aluminum Corp pay a dividend?
Yes: Kaiser Aluminum Corp paid $52M in dividends over the trailing twelve months, a dividend yield of 2.74% and a payout ratio of 23.8%.
How much debt does Kaiser Aluminum Corp have?
Kaiser Aluminum Corp's debt-to-equity ratio is 106.5%, from its latest balance sheet (146.4% five years earlier). The financial health section below sets out its other solvency checks.
Who are Kaiser Aluminum Corp's competitors?
In our Aluminum peer group, the companies closest to Kaiser Aluminum Corp are Century Aluminum Co, Constellium SE and Alcoa Corp. The side-by-side comparison below sets their revenue, margins and growth against Kaiser Aluminum Corp's.
Are insiders buying or selling Kaiser Aluminum Corp stock?
Over the last 12 months, Kaiser Aluminum Corp's directors and officers reported 0 open-market purchases and 10 sales on Form 4. The insider trading page charts every trade.
When is Kaiser Aluminum Corp's next earnings date?
Around January 20, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Kaiser Aluminum Corp announces its own schedule.