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Side-by-side financial comparison of Alcoa Corp (AA) and CONSTELLIUM SE (CSTM), based on the latest 10-Q / 10-K filings. Click either name above to swap in a different company.
Alcoa Corp is the larger business by last-quarter revenue ($3.4B vs $2.2B, roughly 1.6× CONSTELLIUM SE). Alcoa Corp runs the higher net margin — 6.2% vs 5.1%, a 1.1% gap on every dollar of revenue. Alcoa Corp produced more free cash flow last quarter ($294.0M vs $109.0M).
Alcoa Corporation is an American industrial corporation that produces aluminum. According to industry rankings, it is among the largest producers globally. The company operates in 10 countries and is involved in mining, refining, smelting, fabricating, and recycling aluminum products.
Constellium SE is an American-Swiss, French-based global manufacturer of aluminium rolled products, extruded products, and structural parts based on a large variety of advanced alloys. Constellium's C-TEC research center has been credited for advancing technology in the field of advanced aluminium alloy. Constellium primarily serves the aerospace, automotive, and packaging sectors. Large clients include Mercedes-Benz, Audi, BMW, Fiat Chrysler Automotive, Ford, Airbus, Boeing, and Bombardier.
AA vs CSTM — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $3.4B | $2.2B |
| Net Profit | $213.0M | $112.0M |
| Gross Margin | — | — |
| Operating Margin | 2.0% | 7.5% |
| Net Margin | 6.2% | 5.1% |
| Revenue YoY | -1.1% | — |
| Net Profit YoY | 5.4% | — |
| EPS (diluted) | $0.80 | $0.79 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align — see 8-quarter trend below.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history — bar widths are scaled to the larger of the two companies so you can eyeball the size gap and growth trajectory without doing math. Quarters aligned by calendar period (report date) so offset fiscal years line up.
| Q4 25 | $3.4B | $2.2B | ||
| Q3 25 | $3.0B | $2.2B | ||
| Q2 25 | $3.0B | $2.1B | ||
| Q1 25 | $3.4B | $2.0B | ||
| Q4 24 | $3.5B | — | ||
| Q3 24 | $2.9B | — | ||
| Q2 24 | $2.9B | $1.9B | ||
| Q1 24 | $2.6B | — |
| Q4 25 | $213.0M | $112.0M | ||
| Q3 25 | $232.0M | $88.0M | ||
| Q2 25 | $164.0M | $36.0M | ||
| Q1 25 | $548.0M | $37.0M | ||
| Q4 24 | $202.0M | — | ||
| Q3 24 | $90.0M | — | ||
| Q2 24 | $20.0M | $76.0M | ||
| Q1 24 | $-252.0M | — |
| Q4 25 | 2.0% | 7.5% | ||
| Q3 25 | 5.6% | 5.8% | ||
| Q2 25 | 5.3% | 2.7% | ||
| Q1 25 | 19.8% | 3.1% | ||
| Q4 24 | 9.7% | — | ||
| Q3 24 | 6.3% | — | ||
| Q2 24 | 3.2% | 5.4% | ||
| Q1 24 | -12.5% | — |
| Q4 25 | 6.2% | 5.1% | ||
| Q3 25 | 7.7% | 4.1% | ||
| Q2 25 | 5.4% | 1.7% | ||
| Q1 25 | 16.3% | 1.9% | ||
| Q4 24 | 5.8% | — | ||
| Q3 24 | 3.1% | — | ||
| Q2 24 | 0.7% | 3.9% | ||
| Q1 24 | -9.7% | — |
| Q4 25 | $0.80 | $0.79 | ||
| Q3 25 | $0.88 | $0.62 | ||
| Q2 25 | $0.62 | $0.25 | ||
| Q1 25 | $2.07 | $0.26 | ||
| Q4 24 | $1.18 | — | ||
| Q3 24 | $0.38 | — | ||
| Q2 24 | $0.11 | $0.51 | ||
| Q1 24 | $-1.41 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest filing — the kind of financial-strength check premium terminals charge for.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.6B | $120.0M |
| Total DebtLower is stronger | $2.4B | $1.9B |
| Stockholders' EquityBook value | $6.1B | $952.0M |
| Total Assets | $16.1B | $5.4B |
| Debt / EquityLower = less leverage | 0.40× | 2.00× |
8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.
| Q4 25 | $1.6B | $120.0M | ||
| Q3 25 | $1.5B | $122.0M | ||
| Q2 25 | $1.5B | $133.0M | ||
| Q1 25 | $1.2B | $118.0M | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | $1.3B | — | ||
| Q2 24 | $1.4B | — | ||
| Q1 24 | $1.4B | — |
| Q4 25 | $2.4B | $1.9B | ||
| Q3 25 | $2.6B | $2.0B | ||
| Q2 25 | $2.6B | $2.0B | ||
| Q1 25 | $2.6B | $1.9B | ||
| Q4 24 | $2.5B | — | ||
| Q3 24 | $2.5B | — | ||
| Q2 24 | $2.5B | — | ||
| Q1 24 | $2.5B | — |
| Q4 25 | $6.1B | $952.0M | ||
| Q3 25 | $6.3B | $845.0M | ||
| Q2 25 | $6.1B | $780.0M | ||
| Q1 25 | $5.8B | $745.0M | ||
| Q4 24 | $5.2B | — | ||
| Q3 24 | $5.3B | — | ||
| Q2 24 | $3.9B | $796.0M | ||
| Q1 24 | $4.0B | — |
| Q4 25 | $16.1B | $5.4B | ||
| Q3 25 | $16.0B | $5.4B | ||
| Q2 25 | $15.0B | $5.4B | ||
| Q1 25 | $14.6B | $5.2B | ||
| Q4 24 | $14.1B | — | ||
| Q3 24 | $14.5B | — | ||
| Q2 24 | $14.3B | — | ||
| Q1 24 | $14.3B | — |
| Q4 25 | 0.40× | 2.00× | ||
| Q3 25 | 0.41× | 2.34× | ||
| Q2 25 | 0.42× | 2.53× | ||
| Q1 25 | 0.44× | 2.56× | ||
| Q4 24 | 0.48× | — | ||
| Q3 24 | 0.47× | — | ||
| Q2 24 | 0.63× | — | ||
| Q1 24 | 0.62× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Net income can be massaged; cash flow is harder to fake.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $537.0M | $218.0M |
| Free Cash FlowOCF − Capex | $294.0M | $109.0M |
| FCF MarginFCF / Revenue | 8.5% | 5.0% |
| Capex IntensityCapex / Revenue; lower = less reinvestment burden | 7.0% | 5.0% |
| Cash ConversionOCF / Net Profit; >1× = earnings back up with cash | 2.52× | 1.95× |
| TTM Free Cash FlowTrailing 4 quarters | $567.0M | $159.0M |
8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.
| Q4 25 | $537.0M | $218.0M | ||
| Q3 25 | $85.0M | $99.0M | ||
| Q2 25 | $488.0M | $114.0M | ||
| Q1 25 | $75.0M | $58.0M | ||
| Q4 24 | $415.0M | — | ||
| Q3 24 | $143.0M | — | ||
| Q2 24 | $287.0M | $138.0M | ||
| Q1 24 | $-223.0M | — |
| Q4 25 | $294.0M | $109.0M | ||
| Q3 25 | $-66.0M | $24.0M | ||
| Q2 25 | $357.0M | $37.0M | ||
| Q1 25 | $-18.0M | $-11.0M | ||
| Q4 24 | $246.0M | — | ||
| Q3 24 | $-3.0M | — | ||
| Q2 24 | $123.0M | $54.0M | ||
| Q1 24 | $-324.0M | — |
| Q4 25 | 8.5% | 5.0% | ||
| Q3 25 | -2.2% | 1.1% | ||
| Q2 25 | 11.8% | 1.8% | ||
| Q1 25 | -0.5% | -0.6% | ||
| Q4 24 | 7.1% | — | ||
| Q3 24 | -0.1% | — | ||
| Q2 24 | 4.2% | 2.8% | ||
| Q1 24 | -12.5% | — |
| Q4 25 | 7.0% | 5.0% | ||
| Q3 25 | 5.0% | 3.5% | ||
| Q2 25 | 4.3% | 3.7% | ||
| Q1 25 | 2.8% | 3.5% | ||
| Q4 24 | 4.8% | — | ||
| Q3 24 | 5.0% | — | ||
| Q2 24 | 5.6% | 4.3% | ||
| Q1 24 | 3.9% | — |
| Q4 25 | 2.52× | 1.95× | ||
| Q3 25 | 0.37× | 1.13× | ||
| Q2 25 | 2.98× | 3.17× | ||
| Q1 25 | 0.14× | 1.57× | ||
| Q4 24 | 2.05× | — | ||
| Q3 24 | 1.59× | — | ||
| Q2 24 | 14.35× | 1.82× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Sankey diagram of revenue → gross profit → operating profit → net profit for each company. Charts shown full-width and stacked so both segment hierarchies are readable side-by-side on desktop and mobile.
Revenue Breakdown by Segment
AA
| Aluminum | $2.5B | 72% |
| Third Party Sales | $979.0M | 28% |
CSTM
| Packaging Rolled Products | $1.0B | 46% |
| Automotive Rolled Products | $318.0M | 14% |
| Aerospace Rolled Products | $270.0M | 12% |
| Transportation Industry Defense And Other Rolled Products | $232.0M | 11% |
| Automotive Extruded Products | $220.0M | 10% |
| Other Extruded Products | $132.0M | 6% |
| Specialty And Other Thin Rolled Products | $22.0M | 1% |