Saturday 17 October 2026
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Kaiser Aluminum Corporation
KALU Basic Materials Aluminum
Kaiser Aluminum Corporation’s revenue for fiscal 2025 (year ended December 2025) was $3.4 billion, up 11.5% from fiscal 2024. In the quarter to June 2026, revenue grew 52.7%, EPS grew 311.1%, free cash flow grew 255.3% and total debt fell 3.43%, each against the same quarter a year earlier. Dividend growth for ten consecutive years.
147.25
1.17
−0.79%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Trend | 2026e | 2027e | 2028e |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Price, $ | |||||||||||||||
| Price, $ | Low | 69.41 | 74.56 | 83.29 | 85.04 | 50.49 | 84.78 | 59.24 | 53.67 | 59.52 | 46.81 |
Analyst estimates 2026–2028 Powerpack |
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| High | 96.06 | 109.13 | 119.66 | 117.06 | 112.00 | 141.07 | 107.41 | 94.55 | 102.42 | 119.13 | |||||
| People | |||||||||||||||
| People | Employees | 2,760 | 2,770 | 2,860 | 2,820 | 2,575 | 3,957 | 3,920 | 4,000 | 4,000 | 3,840 | ||||
| Revenue/emp, $m | 0.48 | 0.50 | 0.55 | 0.54 | 0.46 | 0.66 | 0.87 | 0.77 | 0.76 | 0.88 | |||||
| Income, $m | |||||||||||||||
| Income, $m | Revenue | 1,331 | 1,398 | 1,586 | 1,514 | 1,173 | 2,622 | 3,428 | 3,087 | 3,024 | 3,373 | ||||
| Gross margin, % | 24.79 | 22.30 | 17.98 | 19.74 | 19.73 | 10.45 | 7.23 | 11.62 | 11.82 | 13.12 | |||||
| EBT | 147 | 133 | 120 | 80 | 39 | (24) | (38) | 83 | 88 | 150 | |||||
| EBT margin, % | 11.06 | 9.52 | 7.57 | 5.31 | 3.31 | (0.92) | (1.11) | 2.69 | 2.91 | 4.45 | |||||
| Net income | 92 | 45 | 92 | 62 | 29 | (18) | (30) | 68 | 66 | 113 | |||||
| Depreciation | 37 | 41 | 45 | 50 | 54 | 94 | 109 | 111 | 119 | 127 | |||||
| Per share, $ | |||||||||||||||
| Per share, $ | Revenue | 74.70 | 82.23 | 95.62 | 94.65 | 74.21 | 165.57 | 215.51 | 193.05 | 188.19 | 208.61 | ||||
| Earnings | 5.15 | 2.67 | 5.53 | 3.88 | 1.81 | (1.17) | (1.86) | 4.24 | 4.09 | 6.96 | |||||
| Cash flow | 9.30 | 8.33 | 9.06 | 14.52 | 13.09 | 5.01 | (3.97) | 13.25 | 10.40 | 6.89 | |||||
| Capex | (4.27) | (4.41) | (4.43) | (3.75) | (3.27) | (3.55) | (8.27) | (8.00) | (10.88) | (5.18) | |||||
| Free cash flow | 5.02 | 3.92 | 4.62 | 10.77 | 9.83 | 1.47 | (12.23) | 5.25 | (0.48) | 1.71 | |||||
| Book value | 45.17 | 43.91 | 44.64 | 45.88 | 46.35 | 43.73 | 39.68 | 40.79 | 46.24 | 51.09 | |||||
| Shares, m | 18 | 17 | 17 | 16 | 16 | 16 | 16 | 16 | 16 | 16 | |||||
| Valuation, × | |||||||||||||||
| Valuation, × | P/E | 15.35 | 41.60 | 16.29 | 28.73 | 54.64 | 0.00 | 0.00 | 16.58 | 17.19 | 16.50 | ||||
| P/S | 1.05 | 1.33 | 0.93 | 1.17 | 1.33 | 0.57 | 0.35 | 0.36 | 0.37 | 0.55 | |||||
| P/B | 1.74 | 2.49 | 2.00 | 2.42 | 2.13 | 2.15 | 1.91 | 1.72 | 1.52 | 2.25 | |||||
| EV/Sales | 1.25 | 1.55 | 1.18 | 1.39 | 1.53 | 0.91 | 0.71 | 0.73 | 0.77 | 0.91 | |||||
| EV/FCF | 18.55 | 32.58 | 24.30 | 12.18 | 11.56 | 103.26 | (12.51) | 26.90 | (302.26) | 111.77 | |||||
| Cash, $m | |||||||||||||||
| Cash, $m | Operating cash flow | 166 | 142 | 150 | 232 | 207 | 79 | (63) | 212 | 167 | 111 | ||||
| Capex | (76) | (75) | (73) | (60) | (52) | (56) | (131) | (128) | (175) | (84) | |||||
| Free cash flow | 90 | 67 | 77 | 172 | 155 | 23 | (195) | 84 | (8) | 28 | |||||
| Balance, $m | |||||||||||||||
| Balance, $m | Working capital | 491 | 484 | 451 | 609 | 963 | 749 | 624 | 620 | 674 | 834 | ||||
| Total debt | 369 | 370 | 370 | 493 | 838 | 1,036 | 1,113 | 1,040 | 1,042 | 1,060 | |||||
| Net debt | 83 | 135 | 208 | 150 | 58 | 733 | 1,055 | 957 | 1,023 | 1,053 | |||||
| Shareholders’ equity | 805 | 746 | 740 | 734 | 732 | 693 | 631 | 652 | 743 | 826 | |||||
| Returns, % | |||||||||||||||
| Returns, % | ROA | 6.82 | 3.21 | 6.54 | 4.21 | 1.70 | (0.86) | (1.26) | 2.98 | 2.81 | 4.52 | ||||
| ROIC | 12.76 | 11.01 | 9.46 | 8.89 | 6.41 | 2.82 | 0.15 | 4.76 | 3.97 | 6.28 | |||||
| ROE | 11.61 | 5.85 | 12.34 | 8.41 | 3.93 | (2.60) | (4.47) | 10.57 | 9.42 | 14.34 | |||||
Negative figures in brackets.
Fiscal years to Dec 2025 · latest quarter Jun 2026
Charts ten years each
Kaiser Aluminum Corporation vs peers in the Basic Materials sector (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| KWR Quaker Houghton | $2.7B | 27.9× | 25.2× | +10.17% (above 0%: growing) | n/m | −43.19% (below 0%: shrinking) | 35.53% | 7.62% | Compare |
| WDFC WD-40 Company | $2.7B | 30.3× | 34.0× | +24.35% (above 0%: growing) | +45.45% (above 0%: growing) | −13.28% (below 0%: shrinking) | 56.59% | 20.67% | Compare |
| BCC Boise Cascade, L.L.C. | $2.6B | 25.8× | 18.9× | +5.24% (above 0%: growing) | −0.61% (below 0%: shrinking) | +151.57% (above 0%: growing) | 17.90% | 4.59% | Compare |
| TTAM Titan America SA | $2.5B | 14.2× | 14.4× | +9.64% (above 0%: growing) | −17.86% (below 0%: shrinking) | −14.52% (below 0%: shrinking) | 24.04% | 13.33% | Compare |
| KALU Kaiser Aluminum Corporation | $2.4B | 10.6× | 16.8× | +52.67% (above 0%: growing) | +311.11% (above 0%: growing) | +255.27% (above 0%: growing) | 15.84% | 10.64% | |
| NGVT Ingevity Corporation | $2.4B | 45.3× | 18.5× | −5.25% (below 0%: shrinking) | n/m | −136.08% (below 0%: shrinking) | 44.25% | 19.13% | Compare |
| IOSP Innospec Inc. | $2.4B | 19.7× | 16.3× | +11.76% (above 0%: growing) | +32.98% (above 0%: growing) | −63.16% (below 0%: shrinking) | 28.14% | 8.08% | Compare |
| PPTA Perpetua Resources Corp. | $2.3B | — (loss-making) | — | — | n/m | −1,165.90% (below 0%: shrinking) | 0.00% | 0.00% | Compare |
| DRD DRDGOLD Limited | $2.2B | 154× | — (loss-making) | −6.32% (below 0%: shrinking) | n/m | +308.04% (above 0%: growing) | 31.56% | 0.00% | Compare |
| Median of peers | $2.5B | 27.9× | 18.7× | +9.64% | +16.19% | −28.85% | 29.85% | 7.85% |
Kaiser Aluminum Corporation (KALU) key facts
- Strength: Kaiser Aluminum Corporation’s revenue for fiscal 2025 (year ended December 2025) was $3.4 billion, up 11.5% from fiscal 2024.
- Kaiser Aluminum Corporation (KALU) is an Aluminum company in the Basic Materials sector, listed on Nasdaq.
- As of October 16, 2026, KALU traded at $147.25, a market capitalization of $2.4 billion.
- Kaiser Aluminum Corporation pays an annual dividend of $3.08 per share, a yield of 2.09%, with a payout ratio of 22.8%.
- Return on equity was 14.3% and debt-to-equity 1.10.
- Its Piotroski F-score is 7 out of 9 and its Altman Z-score is 2.67 (grey zone) for fiscal 2025.