AA vs TX
Alcoa Corp. and Ternium S.a., side by side — 10 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | AA | TX |
|---|---|---|
| Revenue | $12.8B | $15.6B |
| Net income | $1.2B | $425.2M |
| Gross margin | 16.9% | 15.1% |
| Net margin | 8.7% | 1.9% |
| Return on equity | 20.5% | 3.6% |
| Diluted EPS | $4.37 | $0.22 |
| Dividend / share | $0.10 | $0.27 |
| Payout ratio | 9.0% | 124.6% |
| Free cash flow | $567.0M | $-345.5M |
| Equity | · | $11.9B |
| Net debt / equity | 0.14× | 0.07× |
| Current ratio | 1.44× | 2.49× |
| Revenue CAGR 5y | 6.7% | 12.3% |
| Profit CAGR 5y | · | −11.4% |
TX bills 1.2× the revenue of AA, and AA keeps more of each dollar of revenue as profit (8.7% against 1.9%).
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 | TX |
|---|---|---|
| FY2025 | $12.8B | $15.6B |
| FY2024 | $11.9B | $17.6B |
| FY2023 | $10.6B | $17.6B |
| FY2022 | $12.5B | $16.4B |
| FY2021 | $12.2B | $16.1B |
| FY2020 | $9.3B | $8.7B |
| FY2019 | $10.4B | $10.2B |
| FY2018 | $13.4B | $11.5B |
| FY2017 | $11.7B | $9.7B |
| FY2016 | $9.3B | $7.2B |
Bottom line
| Fiscal year | AA | TX |
|---|---|---|
| FY2025 | $1.2B | $425.2M |
| FY2024 | $60.0M | $-53.7M |
| FY2023 | $-651.0M | $676.0M |
| FY2022 | $-123.0M | $1.8B |
| FY2021 | $429.0M | $3.8B |
| FY2020 | $-170.0M | $778.5M |
| FY2019 | $-1.1B | $564.3M |
| FY2018 | $250.0M | $1.5B |
| FY2017 | $279.0M | $886.2M |
| FY2016 | $-400.0M | $595.6M |
11 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −$2,778,094,000 | TX |
| FY2024 | −$5,754,060,000 | TX |
| FY2023 | −$7,059,092,000 | TX |
| FY2022 | −$3,963,466,000 | TX |
| FY2021 | −$3,938,744,000 | TX |
| FY2020 | +$550,565,000 | AA |
| FY2019 | +$240,182,000 | AA |
| FY2018 | +$1,948,193,000 | AA |
| FY2017 | +$1,951,704,000 | AA |
| FY2016 | +$2,094,025,000 | AA |
| FY2015 | +$3,321,551,000 | AA |
The higher-revenue side has changed between AA and TX 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 | +6.8 pp | AA |
| FY2024 | −0.8 pp | TX |
| FY2023 | −12.9 pp | TX |
| FY2022 | −12.4 pp | TX |
| FY2021 | −22.5 pp | TX |
| FY2020 | −10.1 pp | TX |
| FY2019 | −14.4 pp | TX |
| FY2018 | −7.8 pp | TX |
| FY2017 | −5.3 pp | TX |
| FY2016 | −13.5 pp | TX |
| FY2015 | −7.4 pp | TX |
The higher net margin has changed hands between AA and TX over this period.
11 of 12 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
TX's net margin has been more volatile than AA's over the 11 comparable fiscal years — 7.3 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 TX over these 11 fiscal years — AA led in 1 and TX in 10.
11 of 12 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
TX's return on equity has been more volatile than AA's over the 10 comparable fiscal years — 12.0 percentage points of standard deviation against 11.7.
10 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 TX over these 10 fiscal years — AA led in 2 and TX in 8.
10 of 11 comparable fiscal years — a year missing data on either side is not counted.