AA vs HWM
Alcoa Corp. and Howmet Aerospace Inc., side by side — 10 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | AA | HWM |
|---|---|---|
| Revenue | $12.8B | $8.3B |
| Net income | $1.2B | $1.5B |
| Gross margin | 16.9% | 34.2% |
| Net margin | 8.7% | 18.3% |
| Return on equity | 20.5% | 30.4% |
| Diluted EPS | $4.37 | $3.71 |
| Dividend / share | $0.10 | $0.44 |
| Payout ratio | 9.0% | · |
| Free cash flow | $567.0M | $1.4B |
| Equity | · | $5.4B |
| Net debt / equity | 0.14× | 0.43× |
| Current ratio | 1.44× | 2.13× |
| Revenue CAGR 5y | 6.7% | 9.4% |
| Profit CAGR 5y | · | 42.0% |
AA bills 1.6× the revenue of HWM, and HWM keeps more of each dollar of revenue as profit (18.3% against 8.7%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
10 years side by side
| Fiscal year | AA | HWM |
|---|---|---|
| FY2025 | $12.8B | $8.3B |
| FY2024 | $11.9B | $7.4B |
| FY2023 | $10.6B | $6.6B |
| FY2022 | $12.5B | $5.7B |
| FY2021 | $12.2B | $5.0B |
| FY2020 | $9.3B | $5.3B |
| FY2019 | $10.4B | $7.1B |
| FY2018 | $13.4B | $6.8B |
| FY2017 | $11.7B | $13.0B |
| FY2016 | $9.3B | $12.4B |
Bottom line
| Fiscal year | AA | HWM |
|---|---|---|
| FY2025 | $1.2B | $1.5B |
| FY2024 | $60.0M | $1.2B |
| FY2023 | $-651.0M | $765.0M |
| FY2022 | $-123.0M | $469.0M |
| FY2021 | $429.0M | $258.0M |
| FY2020 | $-170.0M | $261.0M |
| FY2019 | $-1.1B | $470.0M |
| FY2018 | $250.0M | $642.0M |
| FY2017 | $279.0M | $-74.0M |
| FY2016 | $-400.0M | $-941.0M |
12 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +$4,579,000,000 | AA |
| FY2024 | +$4,465,000,000 | AA |
| FY2023 | +$3,911,000,000 | AA |
| FY2022 | +$6,788,000,000 | AA |
| FY2021 | +$7,180,000,000 | AA |
| FY2020 | +$4,027,000,000 | AA |
| FY2019 | +$3,335,000,000 | AA |
| FY2018 | +$6,625,000,000 | AA |
| FY2017 | −$1,308,000,000 | HWM |
| FY2016 | −$3,076,000,000 | HWM |
| FY2015 | −$1,214,000,000 | HWM |
| FY2014 | +$605,000,000 | AA |
The higher-revenue side has changed between AA and HWM over this period. The gap has widened since the earliest year compared.
12 of 19 comparable fiscal years — a year missing data on either side is not counted.
12 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −9.6 pp | HWM |
| FY2024 | −15.3 pp | HWM |
| FY2023 | −18.8 pp | HWM |
| FY2022 | −8.0 pp | HWM |
| FY2021 | −0.5 pp | HWM |
| FY2020 | −5.1 pp | HWM |
| FY2019 | −14.8 pp | HWM |
| FY2018 | −2.8 pp | HWM |
| FY2017 | +5.8 pp | AA |
| FY2016 | +3.4 pp | AA |
| FY2015 | −5.0 pp | HWM |
| FY2014 | −4.1 pp | HWM |
The higher net margin has changed hands between AA and HWM over this period.
12 of 19 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
HWM's net margin has been more volatile than AA's over the 12 comparable fiscal years — 7.0 percentage points of standard deviation against 5.4.
12 of 19 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in net margin changed hands between AA and HWM over these 12 fiscal years — AA led in 2 and HWM in 10.
12 of 19 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
HWM's return on equity has been more volatile than AA's over the 11 comparable fiscal years — 12.0 percentage points of standard deviation against 11.4.
11 of 18 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in return on equity changed hands between AA and HWM over these 11 fiscal years — AA led in 3 and HWM in 8.
11 of 18 comparable fiscal years — a year missing data on either side is not counted.