KA
Kaiser Aluminum Corp
KALU—
Kaiser Aluminum Corp AI Insights
Informational only. Not investment advice.Snapshot
- EPS growth 1Y of 1,252% dwarfs revenue growth of 12.8% - massive operating leverage inflection from gross margin expansion (60% YoY).[EPS Growth 1Y]
- FCF TTM collapsed to 13M (0.4% margin) despite 175M operating cash flow - capex of 162M consuming nearly all cash generation.[Free Cash Flow TTM]
- Debt/Equity 1.33x with 1.07B total debt vs 17M cash - net debt of 1.03B is 3.7x EBITDA, elevated for cyclical aluminum.[Debt to Equity]
Watch Triggers
- Free Cash Flow TTM: Rises above 100M (covering dividend) — Validates margin expansion translating to cash; current 13M is unsustainable
- Gross Margin TTM: Sustains above 14% (industry median) — At 12.2% still below peers; confirms pricing power vs input cost normalization
- Net Debt / EBITDA: Falls below 3.0x from current 3.7x — Deleveraging critical for cyclical business; reduces refinancing risk
Bull Case
Earnings inflection: EPS grew 1,252% YoY to $4.40 while P/E of 25x sits near industry median 22x - multiple hasn't caught up to earnings power.
EPS Growth 1YP/E RatioGross Profit 1Y Growth
Revenue growth 5Y CAGR 27% is 3x industry median 8.8% with asset turnover 1.31x above peers - superior capital efficiency.
Total Revenue 5Y GrowthAsset Turnover TTM
Bear Case
Leverage risk: Net debt 1.03B is 3.7x EBITDA with interest expense 46.5M consuming 42% of EBIT - vulnerable in downturn.
Net DebtInterest Expense TTMEBITDA TTM
Cash trap: FCF of 13M can't cover 51M annual dividend (payout ratio 161% 5Y avg) - dividend funded by debt, not operations.
Free Cash Flow TTMDividend Payout Ratio 5Y AvgCapital Expenditure TTM
Bull vs Bear Balance
AI-generated sentiment analysis based on fundamental metrics and market conditions.
40%
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Forward Thesis
Margin expansion cycle has legs as gross profit 1Y growth (60%) vastly exceeds cost structure
1-3ymed
- Gross margin 12.2% TTM recovering toward industry median 14.4%
- Operating leverage on fixed cost base
- Revenue 5Y CAGR 27% vs industry median 8.8%
Gross profit 1Y growth 60% vs industry median 9.5%Operating income 144M TTM on 3.2B revenueAsset turnover 1.31x above industry median 1.06x
Valuation Context
Caveats
Public Strategies Rankings
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KALU Fundamentals
Manufacturing → Primary Metal Manufacturing
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$2.13B | — | ||
$3.19B | — | ||
29 | — | ||
$3.21B | +7.7% | — | |
$4.40 | +86.9% | — | |
4.49% | +1.3% | — | |
2.65% | +1.1% | — | |
$13.0M | -74.0% | — | |
0.12 | +4.3% | — | |
Beta 5Y (Monthly) | unknown | — |
KALU Dividend History
75 dividends
2026
$0.770001/23/26$0.7700
2025
$3.080010/24/25$0.7700
07/25/25$0.7700
04/25/25$0.7700
01/24/25$0.7700
2024
$3.080010/25/24$0.7700
07/25/24$0.7700
04/24/24$0.7700
01/24/24$0.7700
2023
$3.080010/24/23$0.7700
07/24/23$0.7700
04/24/23$0.7700
01/24/23$0.7700
2022
$3.080010/24/22$0.7700
07/22/22$0.7700
04/22/22$0.7700
01/21/22$0.7700
2021
$2.880010/22/21$0.7200
07/22/21$0.7200
04/22/21$0.7200
01/22/21$0.7200
2020
$2.680010/22/20$0.6700
07/23/20$0.6700
04/23/20$0.6700
01/23/20$0.6700
2019
$2.400010/24/19$0.6000
07/24/19$0.6000
04/24/19$0.6000
01/24/19$0.6000
2018
$2.200010/24/18$0.5500
07/25/18$0.5500
04/25/18$0.5500
01/25/18$0.5500
2017
$2.000010/24/17$0.5000
07/25/17$0.5000
04/25/17$0.5000
01/25/17$0.5000
2016
$1.800010/21/16$0.4500
07/21/16$0.4500
04/21/16$0.4500
01/21/16$0.4500
2015
$1.600010/21/15$0.4000
07/22/15$0.4000
04/23/15$0.4000
01/21/15$0.4000
2014
$1.400010/22/14$0.3500
07/23/14$0.3500
04/23/14$0.3500
01/22/14$0.3500
2013
$1.200010/23/13$0.3000
07/23/13$0.3000
04/23/13$0.3000
01/23/13$0.3000
2012
$1.000010/23/12$0.2500
07/24/12$0.2500
04/24/12$0.2500
01/20/12$0.2500
2011
$0.960010/21/11$0.2400
07/21/11$0.2400
04/20/11$0.2400
01/20/11$0.2400
2010
$0.960010/20/10$0.2400
07/22/10$0.2400
04/22/10$0.2400
01/21/10$0.2400
2009
$0.960010/21/09$0.2400
07/23/09$0.2400
04/23/09$0.2400
01/22/09$0.2400
2008
$0.840010/22/08$0.2400
07/23/08$0.2400
04/23/08$0.1800
01/23/08$0.1800
2007
$0.360010/24/07$0.1800
07/25/07$0.1800
KALU Stock Splits
No stock splits
KALU SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
10/23/25 | 09/30/25 | 10-Q | |
07/24/25 | 06/30/25 | 10-Q | |
04/24/25 | 03/31/25 | 10-Q | |
02/20/25 | 12/31/24 | 10-K | |
10/24/24 | 09/30/24 | 10-Q | |
07/26/24 | 06/30/24 | 10-Q | |
04/25/24 | 03/31/24 | 10-Q | |
02/23/24 | 12/31/23 | 10-K | |
10/26/23 | 09/30/23 | 10-Q | |
07/28/23 | 06/30/23 | 10-Q | |
04/28/23 | 03/31/23 | 10-Q | |
02/24/23 | 12/31/22 | 10-K | |
10/25/22 | 09/30/22 | 10-Q | |
07/28/22 | 06/30/22 | 10-Q | |
04/25/22 | 03/31/22 | 10-Q | |
03/01/22 | 12/31/21 | 10-K | |
10/26/21 | 09/30/21 | 10-Q | |
07/26/21 | 06/30/21 | 10-Q | |
05/06/21 | 03/31/21 | 10-Q | |
02/26/21 | 12/31/20 | 10-K | |
10/26/20 | 09/30/20 | 10-Q | |
07/28/20 | 06/30/20 | 10-Q | |
04/21/20 | 03/31/20 | 10-Q | |
02/25/20 | 12/31/19 | 10-K | |
10/25/19 | 09/30/19 | 10-Q | |
07/26/19 | 06/30/19 | 10-Q | |
04/25/19 | 03/31/19 | 10-Q | |
02/22/19 | 12/31/18 | 10-K | |
10/25/18 | 09/30/18 | 10-Q | |
07/27/18 | 06/30/18 | 10-Q | |
05/01/18 | 03/31/18 | 10-Q | |
02/23/18 | 12/31/17 | 10-K | |
10/27/17 | 09/30/17 | 10-Q | |
07/28/17 | 06/30/17 | 10-Q | |
04/21/17 | 03/31/17 | 10-Q | |
02/22/17 | 12/31/16 | 10-K | |
10/25/16 | 09/30/16 | 10-Q | |
07/27/16 | 06/30/16 | 10-Q | |
04/22/16 | 03/31/16 | 10-Q | |
02/22/16 | 12/31/15 | 10-K | |
10/22/15 | 09/30/15 | 10-Q | |
07/23/15 | 06/30/15 | 10-Q | |
04/30/15 | 03/31/15 | 10-Q | |
02/20/15 | 12/31/14 | 10-K | |
10/24/14 | 09/30/14 | 10-Q | |
07/24/14 | 06/30/14 | 10-Q | |
04/25/14 | 03/31/14 | 10-Q | |
02/18/14 | 12/31/13 | 10-K | |
10/23/13 | 09/30/13 | 10-Q | |
07/25/13 | 06/30/13 | 10-Q | |
04/24/13 | 03/31/13 | 10-Q | |
02/21/13 | 12/31/12 | 10-K | |
10/25/12 | 09/30/12 | 10-Q | |
07/26/12 | 06/30/12 | 10-Q | |
04/26/12 | 03/31/12 | 10-Q | |
02/29/12 | 12/31/11 | 10-K | |
10/27/11 | 09/30/11 | 10-Q | |
08/02/11 | 06/30/11 | 10-Q | |
04/28/11 | 03/31/11 | 10-Q | |
02/22/11 | 12/31/10 | 10-K | |
10/27/10 | 09/30/10 | 10-Q | |
08/03/10 | 06/30/10 | 10-Q | |
04/29/10 | 03/31/10 | 10-Q | |
02/24/10 | 12/31/09 | 10-K | |
10/29/09 | 09/30/09 | 10-Q | |
07/30/09 | 06/30/09 | 10-Q | |
04/30/09 | 03/31/09 | 10-Q | |
02/20/09 | 12/31/08 | 10-K | |
11/05/08 | 09/30/08 | 10-Q | |
08/07/08 | 06/30/08 | 10-Q | |
05/08/08 | 03/30/08 | Unknown | -- |
02/26/08 | 12/31/07 | 10-K | |
11/14/07 | 09/30/07 | 10-Q | |
08/14/07 | 06/30/07 | 10-Q | |
05/15/07 | 03/31/07 | 8-K | |
03/29/07 | 12/31/06 | 10-K | |
11/14/06 | 09/30/06 | 10-Q | |
08/14/06 | 06/30/06 | 8-K | |
05/11/06 | 03/31/06 | 8-K | |
03/31/06 | 12/31/05 | 10-K | |
11/14/05 | 09/30/05 | 10-Q | |
08/15/05 | 06/30/05 | 10-Q | |
05/13/05 | 03/30/05 | Unknown | -- |
03/31/05 | 12/31/04 | 10-K | |
11/12/04 | 09/30/04 | 8-K | |
08/16/04 | 06/30/04 | 10-Q | |
05/17/04 | 03/30/04 | Unknown | -- |
03/30/04 | 12/31/03 | 10-K | |
11/12/04 | 09/30/03 | 10-Q | |
11/14/03 | 09/30/03 | 10-Q | |
08/14/03 | 06/30/03 | 10-Q | |
05/17/04 | 03/30/03 | 10-Q | |
05/15/03 | 03/30/03 | 10-Q | |
03/31/03 | 12/31/02 | 10-K | |
11/12/02 | 09/30/02 | 10-Q | |
08/14/02 | 06/30/02 | 10-Q | |
05/20/02 | 03/30/02 | 10-Q | |
04/12/02 | 12/31/01 | 10-K | |
11/14/01 | 09/30/01 | 10-Q | |
08/13/01 | 06/30/01 | 10-Q | |
05/14/01 | 03/30/01 | 10-Q | |
03/30/01 | 12/31/00 | 10-K | |
11/09/00 | 09/30/00 | 10-Q | |
08/14/00 | 06/30/00 | 10-Q | |
05/02/00 | 03/30/00 | 10-Q |