AA vs STLD
Alcoa Corp. and Steel Dynamics Inc., side by side — 10 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | AA | STLD |
|---|---|---|
| Revenue | $12.8B | $18.2B |
| Net income | $1.2B | $1.2B |
| Gross margin | 16.9% | 13.2% |
| Net margin | 8.7% | 6.5% |
| Return on equity | 20.5% | 13.3% |
| Diluted EPS | $4.37 | $7.99 |
| Dividend / share | $0.10 | $2.00 |
| Payout ratio | 9.0% | 24.6% |
| Free cash flow | $567.0M | $501.5M |
| Equity | · | $9.0B |
| Net debt / equity | 0.14× | 0.38× |
| Current ratio | 1.44× | 3.06× |
| Revenue CAGR 5y | 6.7% | 13.6% |
| Profit CAGR 5y | · | · |
STLD bills 1.4× the revenue of AA, and AA keeps more of each dollar of revenue as profit (8.7% against 6.5%).
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 | STLD |
|---|---|---|
| FY2025 | $12.8B | $18.2B |
| FY2024 | $11.9B | $17.5B |
| FY2023 | $10.6B | $18.8B |
| FY2022 | $12.5B | $22.3B |
| FY2021 | $12.2B | $18.4B |
| FY2020 | $9.3B | $9.6B |
| FY2019 | $10.4B | $10.5B |
| FY2018 | $13.4B | $11.8B |
| FY2017 | $11.7B | $9.5B |
| FY2016 | $9.3B | $7.8B |
Bottom line
| Fiscal year | AA | STLD |
|---|---|---|
| FY2025 | $1.2B | $1.2B |
| FY2024 | $60.0M | $1.5B |
| FY2023 | $-651.0M | $2.5B |
| FY2022 | $-123.0M | $3.9B |
| FY2021 | $429.0M | $3.2B |
| FY2020 | $-170.0M | $570.8M |
| FY2019 | $-1.1B | $677.9M |
| FY2018 | $250.0M | $1.3B |
| FY2017 | $279.0M | $805.8M |
| FY2016 | $-400.0M | $360.0M |
12 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −$5,345,581,000 | STLD |
| FY2024 | −$5,645,390,000 | STLD |
| FY2023 | −$8,244,316,000 | STLD |
| FY2022 | −$9,809,774,000 | STLD |
| FY2021 | −$6,256,850,000 | STLD |
| FY2020 | −$315,482,000 | STLD |
| FY2019 | −$31,991,000 | STLD |
| FY2018 | +$1,581,161,000 | AA |
| FY2017 | +$2,113,203,000 | AA |
| FY2016 | +$1,540,891,000 | AA |
| FY2015 | +$3,604,589,000 | AA |
| FY2014 | +$4,391,048,000 | AA |
The higher-revenue side has changed between AA and STLD 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 | +2.2 pp | AA |
| FY2024 | −8.6 pp | STLD |
| FY2023 | −20.5 pp | STLD |
| FY2022 | −17.1 pp | STLD |
| FY2021 | −12.9 pp | STLD |
| FY2020 | −6.1 pp | STLD |
| FY2019 | −14.7 pp | STLD |
| FY2018 | −4.0 pp | STLD |
| FY2017 | −3.2 pp | STLD |
| FY2016 | −8.3 pp | STLD |
| FY2015 | −4.7 pp | STLD |
| FY2014 | −3.7 pp | STLD |
The higher net margin has changed hands between AA and STLD over this period.
12 of 19 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
STLD's net margin has been more volatile than AA's over the 12 comparable fiscal years — 5.6 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 STLD over these 12 fiscal years — AA led in 1 and STLD in 11.
12 of 19 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
STLD's return on equity has been more volatile than AA's over the 5 comparable fiscal years — 19.0 percentage points of standard deviation against 11.7.
5 of 15 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 STLD over these 5 fiscal years — AA led in 1 and STLD in 4.
5 of 15 comparable fiscal years — a year missing data on either side is not counted.