KAISER ALUMINUM CORP financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data KAISER ALUMINUM CORP files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	1,331	1,398	1,586	1,514	1,173	2,622	3,428	3,087	3,024	3,373
Cost of revenue	1,001	1,086	1,301	1,215	941	2,348	3,180	2,728	2,667	2,931
Gross profit	330	312	285	299	231	274	248	359	357	442
Research and development	10.2	10	9.8	10.5	9.1	9.3	9.3	11.1	12	10.7
Operating income	181	155	144	126	81.1	64.4	4	123	112	189
Interest expense	20.3	22.2	22.7	24.6	40.9	49.5	48.3	46.9	43.7	50.1
Interest income	0.1	0.2	0.3	0.6	0.6	0.2	1.3	1.7	3.6	0.8
Other non-operating income	-13.6	0	-0.9	-20.7	-1.4	-38.9	6.4	7.4	19.5	11.3
Pre-tax income	147	133	120	80.4	38.8	-24	-37.9	83	88	150
Income tax	55.5	87.6	28.3	18.4	10	-5.5	-8.3	15.2	22.3	37.5
Net income	91.7	45.4	91.7	62	28.8	-18.5	-29.6	67.8	65.7	113
EBITDA	217	195	188	175	133	156	111	231	229	311
EPS, basic	7.43	3.85	7.97	5.59	2.62	-1.69	-2.68	4.25	4.08	6.96
EPS, diluted	7.34	3.79	7.83	5.52	2.61	-1.69	-2.68	4.21	4.02	6.77
Shares, basic (weighted)	12.4	11.8	11.5	11.1	11	11	11	16	16.1	16.2
Shares, diluted (weighted)	12.5	12	11.7	11.2	11	11	11	16.1	16.3	16.6
Dividend per share	2.60	2.88	3.17	3.46	3.86	4.15	4.44	3.08	3.08	3.08

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	55.2	51.1	126	264	780	303	57.4	82.4	18.4	7
Short-term investments			36.7	78.7
Receivables	138	165	180	167	113	333	297	325	320	423
Inventory	202	208	215	178	152	405	525	551	602	725
Other current assets	18.5	33.4	18.9	19.4	28.6	48.7	30.5	34.5	39	42.6
Total current assets	656	657	657	780	1,121	1,205	1,043	990	1,075	1,262
Property, plant and equipment	531	571	612	622	627	955	1,013	1,052	1,161	1,145
Lease right-of-use assets			0	25.8	26.5	46.2	39.1	32.6	27.2	22.4
Goodwill	37.2	18.8	44	18.8	18.8	39.3	18.8	18.8	18.8	18.8
Intangible assets	26.4	25	32.4	29.6	26.7	67.7	55.3	50	45.5	41
Other non-current assets	33.4	41.4	38.6	38.4	44.1	105	112	118	78.6	75.7
Total assets	1,444	1,385	1,419	1,526	1,865	2,422	2,289	2,267	2,410	2,565
Accounts payable	75.8	90	121	92	86.1	351	305	253	267	275
Accrued liabilities	49.1	42.6	40.1	34.4	30.8	46.9	45.2	53	54.3	61.3
Deferred revenue	0.2			0.2	0	0	0	0	0	0
Total current liabilities	165	173	206	170	158	457	419	370	401	427
Long-term debt	369	370	370	493	838	1,036	1,038	1,040	1,042	1,060
Lease liabilities			0	25.2	25.6	40.8	35.4	29.2	25.2	21.7
Other non-current liabilities	73.2	60	66.4	67	77.3	72.5	74.7	81.7	84	81.4
Total liabilities	639	639	679	792	1,132	1,730	1,658	1,615	1,667	1,739
Total debt	369	370	370	493	838	1,036	1,038	1,040	1,042	1,060
Paid-in capital	1,047	1,056	1,059	1,063	1,069	1,079	1,090	1,105	1,117	1,133
Retained earnings	75.2	85.5	150	173	158	93	13.3	66.3	81.3	143
Treasury stock	-281	-359	-421	-463	-476	-476	-476	-476	-476	-476
Other comprehensive income	-36.7	-36.7	-48.8	-38.6	-18.7	-3.7	3.2	13.1	20.5	26.8
Shareholders' equity	805	746	740	734	732	693	631	708	743	826
Total equity	805	746	740	734	732	693	631	708	743	826
Total liabilities and equity	1,444	1,385	1,419	1,526	1,865	2,422	2,289	2,267	2,410	2,565
Shares outstanding	12.2	11.6	11.3	11	11	11	11.1	16	16.1	16.2

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	91.7	45.4	91.7	62	28.8	-18.5	-29.6	67.8	65.7	113
Depreciation and amortization	36	39.7	43.9	49.1	52.2	91.5	107	109	116	123
Stock-based compensation	11.8	13.3	10.3	9.8	10	12.9	14.3	16.1	14.4	18.5
Deferred income tax	53.7	88.7	36	24.4	21.2	-6.8	-9.7	16.6	14.6	35.2
Change in inventory	13.1	-6.3	-45	37.5	25.6	-43.5	-121	21.5	-50.4	-125
Cash from operations	166	142	150	232	207	79.4	-63.1	212	167	111
Capital expenditures	-76.1	-75.5	-74.1	-60.2	-51.9	-58	-143	-143	-181	-137
Acquisitions	0	0	-43.2	0		-609
Purchases of investments			-135	-132	-39.1
Cash from investing	-276	-25.5	31.1	-102	26.9	-666	-126	-128	-175	-77.8
Debt repaid										-631
Stock issued	1.2	0	0
Share buybacks	-33.3	-79.5	-60.7	-44.2	-12.5
Dividends paid	-32.4	-35	-37.7	-39.4	-43.4	-46.7	-50.1	-50.4	-50.7	-51.3
Cash from financing	94.8	-119	-106	8.5	282	109	-56.8	-54.3	-55.3	-44.6
Net change in cash	-17.3	-3.4	75.3	139	516	-477	-246	29.4	-62.8	-11
Free cash flow	89.5	66	76.1	172	155	21.4	-206	68.7	-13.7	-25.5
Interest paid	17.7	21.1	21.6	23.6	29.4	48.7	45.7	43.8	40.5	50.1
Income taxes paid	1.2	21.1	21.6	23.6	1	5.6	6.3	0.5	4.4	7.6

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $152.55 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	14.5%	Gross profit / revenue.
Operating margin	8.2%	Operating income / revenue.
EBITDA margin	11.2%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	7.3%	Pre-tax income / revenue.
Net margin	5.5%	Net income / revenue.
FCF margin	2.1%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	4.5%	Cash from operations / revenue.
Effective tax rate	24.3%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	24.1%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	7.8%	Net income / average total assets.
Return on invested capital (ROIC)	13.4%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
Stock-based pay / revenue	0.5%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	2.4%	Capital expenditures / revenue.
D&A / revenue	3.0%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	11.5%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-0.5%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	23.5%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	23.8%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	21.3%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	13.8%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	68.3%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	261.4%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	18.4%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	36.2%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	41.1%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	18.5%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	71.2%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 5y	31.3%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	68.4%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 5y	21.0%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-33.3%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 5y	-11.6%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	0.0%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	-11.5%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	-4.4%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	11.2%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	9.4%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	2.4%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	6.4%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	3.9%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	6.6%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	1.9%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	14.6%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	8.5%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	2.50x	Current assets / current liabilities.
Quick ratio	0.99x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.09x	(Cash + short-term investments) / current liabilities.
Debt / equity	1.10x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	35.7%	Total debt / total assets.
Liabilities / assets	67.6%	Total liabilities / total assets.
Net debt	$979.8M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	2.11x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	6.16x	Operating income / interest expense.
Working capital	$959.9M	Current assets - current liabilities.
Goodwill and intangibles / assets	2.0%	(Goodwill + intangible assets) / total assets.
Tangible book value	$886.3M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	1.42x	Revenue / average total assets.
Fixed asset turnover	3.62x	Revenue / average property, plant and equipment.
Inventory turnover	4.17x	Cost of revenue / average inventory.
Days inventory	88 days	365 x average inventory / cost of revenue.
Receivables turnover	7.19x	Revenue / average receivables.
Days sales outstanding	51 days	365 x average receivables / revenue.
Days payables	52 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	86 days	Days inventory + days sales outstanding - days payables.
FCF conversion	38.3%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	53.2%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$13.42	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$244.47	Revenue / diluted weighted shares.
FCF per share	$5.14	Free cash flow / diluted weighted shares.
Operating cash flow per share	$10.99	Cash from operations / diluted weighted shares.
Book value per share	$57.73	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$54.21	Tangible book value / shares outstanding.
Cash per share	$3.58	(Cash + short-term investments) / shares outstanding.
Payout ratio	22.9%	Dividends paid / net income, when net income is positive.
Dividends / FCF	59.8%	Dividends paid / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$2.49B	Share price x shares outstanding.
Enterprise value	$3.47B	Market cap + total debt - cash - short-term investments.
P/E	11.0x	Market cap / net income. Only when net income is positive.
P/S	0.60x	Market cap / revenue.
P/B	2.64x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	2.81x	Market cap / tangible book value, when positive.
P/FCF	28.7x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	13.4x	Market cap / cash from operations, when positive.
EV/Sales	0.84x	Enterprise value / revenue.
EV/EBIT	10.2x	Enterprise value / operating income, when both are positive.
EV/EBITDA	7.49x	Enterprise value / EBITDA, when both are positive.
EV/FCF	39.9x	Enterprise value / free cash flow, when both are positive.
FCF yield	3.5%	Free cash flow / market cap.
Earnings yield	9.1%	Net income / market cap (the inverse of P/E).
Dividend yield	2.1%	Dividends paid over the period / market cap.
Shareholder yield	2.1%	(Dividends paid + share buybacks) / market cap.

What was KAISER ALUMINUM CORP's revenue in fiscal 2025?

KAISER ALUMINUM CORP reported revenue of $3.37B for fiscal 2025, 11.5% higher than the year before.

Was KAISER ALUMINUM CORP profitable in fiscal 2025?

Yes. Net income was $112.5M, a net margin of 3.3%.

How much free cash flow did KAISER ALUMINUM CORP generate in fiscal 2025?

Cash from operations of $111.4M minus capital expenditures of $136.9M left free cash flow of -$25.5M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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