Filing Flows › Alcoa (AA) › Q4 2025
Alcoa (AA) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 26, 2026
Alcoa (AA) reported revenue of $3.4B for the fourth quarter 2025 (Q4 2025), -1% from a year earlier and +15% from the quarter before. Operating margin was 2.0%, net earnings $213M (6.2% of revenue).
Alcoa, Q4 2025: revenue $3.4B (-1% year over year), operating margin 2.0%, net earnings $213M, operating cash flow $537M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.4B | +15% | -1% |
| Operating profit | $68.0M | -59% | -80% |
| Net earnings | $213M | -8% | +5% |
| Operating cash flow | $537M | +532% | +29% |
| Free cash flow | $294M | — | +20% |
What changed
Revenue was $3.4B in Q4 2025, down 1% year over year and up 15% from the previous quarter. Aluminum was the largest line at 72% of revenue.
Operating profit was $0.07B, a 2.0% margin (down 7.7 points year over year). Total costs grew 7% against a revenue fall of 1%. The fastest-growing cost line was Other operating costs (+31%). Net earnings were $0.21B, up 5% year over year ($0.20B including minority interests, which bore $0.01B of losses). The tax line was a benefit of $0.13B on pre-tax earnings of $0.07B.
Operating cash flow was $0.54B (up 29% year over year), 266% of net income including minority interests. Non-cash charges added back $0.16B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items added $0.17B. Capital expenditures of $0.24B left free cash flow of $0.29B.
Questions
What was Alcoa's revenue in the fourth quarter 2025?
Alcoa (AA) reported revenue of $3.4B for the fourth quarter 2025 (Q4 2025), -1% from a year earlier and +15% from the quarter before.
Was Alcoa profitable in the fourth quarter 2025?
Operating profit was $68.0M (2.0% of revenue) and net earnings $213M.
Source: Alcoa 10-K on SEC EDGAR.