AA vs MT
Alcoa Corp. and ArcelorMittal, side by side — 10 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | AA | MT |
|---|---|---|
| Revenue | $12.8B | $61.4B |
| Net income | $1.2B | $3.2B |
| Gross margin | 16.9% | 7.1% |
| Net margin | 8.7% | 5.3% |
| Return on equity | 20.5% | 6.1% |
| Diluted EPS | $4.37 | $4.11 |
| Dividend / share | $0.10 | · |
| Payout ratio | 9.0% | 17.2% |
| Free cash flow | $567.0M | · |
| Equity | · | $54.5B |
| Net debt / equity | 0.14× | 0.15× |
| Current ratio | 1.44× | 1.36× |
| Revenue CAGR 5y | 6.7% | 2.9% |
| Profit CAGR 5y | · | · |
MT bills 4.8× the revenue of AA, and AA keeps more of each dollar of revenue as profit (8.7% against 5.3%).
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 | MT |
|---|---|---|
| FY2025 | $12.8B | $61.4B |
| FY2024 | $11.9B | $62.4B |
| FY2023 | $10.6B | $68.3B |
| FY2022 | $12.5B | $79.8B |
| FY2021 | $12.2B | $76.6B |
| FY2020 | $9.3B | $53.3B |
| FY2019 | $10.4B | $70.6B |
| FY2018 | $13.4B | $76.0B |
| FY2017 | $11.7B | $68.7B |
| FY2016 | $9.3B | $56.8B |
Bottom line
| Fiscal year | AA | MT |
|---|---|---|
| FY2025 | $1.2B | $3.2B |
| FY2024 | $60.0M | $1.3B |
| FY2023 | $-651.0M | $919.0M |
| FY2022 | $-123.0M | $9.3B |
| FY2021 | $429.0M | $15.0B |
| FY2020 | $-170.0M | $-733.0M |
| FY2019 | $-1.1B | $-2.5B |
| FY2018 | $250.0M | $5.1B |
| FY2017 | $279.0M | $4.6B |
| FY2016 | $-400.0M | $1.8B |
11 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −$48,521,000,000 | MT |
| FY2024 | −$50,546,000,000 | MT |
| FY2023 | −$57,724,000,000 | MT |
| FY2022 | −$67,393,000,000 | MT |
| FY2021 | −$64,419,000,000 | MT |
| FY2020 | −$43,984,000,000 | MT |
| FY2019 | −$60,182,000,000 | MT |
| FY2018 | −$62,630,000,000 | MT |
| FY2017 | −$57,027,000,000 | MT |
| FY2016 | −$47,473,000,000 | MT |
| FY2015 | −$52,379,000,000 | MT |
MT has reported the higher revenue in every one of these 11 fiscal years. The gap has narrowed since the earliest year compared.
11 of 12 comparable fiscal years — a year missing data on either side is not counted.
11 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +3.4 pp | AA |
| FY2024 | −2.0 pp | MT |
| FY2023 | −8.8 pp | MT |
| FY2022 | −11.6 pp | MT |
| FY2021 | −15.6 pp | MT |
| FY2020 | +0.9 pp | AA |
| FY2019 | −4.8 pp | MT |
| FY2018 | −0.3 pp | MT |
| FY2017 | −1.4 pp | MT |
| FY2016 | −6.8 pp | MT |
| FY2015 | +6.6 pp | AA |
The higher net margin has changed hands between AA and MT over this period.
11 of 12 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
MT's net margin has been more volatile than AA's over the 11 comparable fiscal years — 8.2 percentage points of standard deviation against 5.6.
11 of 12 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 MT over these 11 fiscal years — AA led in 3 and MT in 8.
11 of 12 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
MT's return on equity has been more volatile than AA's over the 11 comparable fiscal years — 13.7 percentage points of standard deviation against 11.4.
11 of 11 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 MT over these 11 fiscal years — AA led in 2 and MT in 9.
11 of 11 comparable fiscal years — a year missing data on either side is not counted.