AA vs TS
Alcoa Corp. and Tenaris SA, side by side — 10 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | AA | TS |
|---|---|---|
| Revenue | $12.8B | $12.0B |
| Net income | $1.2B | $1.9B |
| Gross margin | 16.9% | 34.4% |
| Net margin | 8.7% | 16.5% |
| Return on equity | 20.5% | 11.6% |
| Diluted EPS | $4.37 | $1.83 |
| Dividend / share | $0.10 | · |
| Payout ratio | 9.0% | 46.6% |
| Free cash flow | $567.0M | · |
| Equity | · | $16.6B |
| Net debt / equity | 0.14× | −0.02× |
| Current ratio | 1.44× | 3.87× |
| Revenue CAGR 5y | 6.7% | 18.4% |
| Profit CAGR 5y | · | · |
AA and TS book revenue within 15% of each other, and TS keeps more of each dollar of revenue as profit (16.5% 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 | TS |
|---|---|---|
| FY2025 | $12.8B | $12.0B |
| FY2024 | $11.9B | $12.5B |
| FY2023 | $10.6B | $14.9B |
| FY2022 | $12.5B | $11.8B |
| FY2021 | $12.2B | $6.5B |
| FY2020 | $9.3B | $5.1B |
| FY2019 | $10.4B | $7.3B |
| FY2018 | $13.4B | $7.7B |
| FY2017 | $11.7B | $5.3B |
| FY2016 | $9.3B | $4.3B |
Bottom line
| Fiscal year | AA | TS |
|---|---|---|
| FY2025 | $1.2B | $1.9B |
| FY2024 | $60.0M | $2.0B |
| FY2023 | $-651.0M | $3.9B |
| FY2022 | $-123.0M | $2.6B |
| FY2021 | $429.0M | $1.1B |
| FY2020 | $-170.0M | $-634.4M |
| FY2019 | $-1.1B | $742.7M |
| FY2018 | $250.0M | $876.1M |
| FY2017 | $279.0M | $544.7M |
| FY2016 | $-400.0M | $55.3M |
11 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +$849,843,000 | AA |
| FY2024 | −$628,934,000 | TS |
| FY2023 | −$4,317,860,000 | TS |
| FY2022 | +$688,474,000 | AA |
| FY2021 | +$5,630,793,000 | AA |
| FY2020 | +$4,139,266,000 | AA |
| FY2019 | +$3,138,945,000 | AA |
| FY2018 | +$5,744,412,000 | AA |
| FY2017 | +$6,363,496,000 | AA |
| FY2016 | +$5,024,408,000 | AA |
| FY2015 | +$4,295,877,000 | AA |
The higher-revenue side has changed between AA and TS over this period. 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 | −7.7 pp | TS |
| FY2024 | −16.4 pp | TS |
| FY2023 | −33.9 pp | TS |
| FY2022 | −21.4 pp | TS |
| FY2021 | −11.5 pp | TS |
| FY2020 | +12.3 pp | AA |
| FY2019 | −18.2 pp | TS |
| FY2018 | −4.7 pp | TS |
| FY2017 | −4.9 pp | TS |
| FY2016 | −5.1 pp | TS |
| FY2015 | −5.5 pp | TS |
The higher net margin has changed hands between AA and TS over this period.
11 of 12 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
TS's net margin has been more volatile than AA's over the 11 comparable fiscal years — 10.6 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 TS over these 11 fiscal years — AA led in 1 and TS in 10.
11 of 12 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
AA's return on equity has been more volatile than TS's over the 11 comparable fiscal years — 11.4 percentage points of standard deviation against 8.5.
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 TS over these 11 fiscal years — AA led in 4 and TS in 7.
11 of 11 comparable fiscal years — a year missing data on either side is not counted.