KALU
Kaiser Aluminum Corporation
KALU's fundamentals are strong and it looks cheap: trading at 8.6x earnings, about a third of its usual 25x. Analysts expect earnings growth.
KALU Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Healthy | |
| Healthy | |
| Healthy |
KALU's revenue, profitability, cash flow and balance sheet are all currently healthy.
KALU PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 8.6x | $111 | — |
| Forward | 11x | $111 | — |
| Cheap | 18x | $231 | +108% |
| Fair | 25x | $329 | +196% |
| Expensive | 83x | $1,074 | +867% |
Historical ranges are pointers, not guarantees.
KALU's PE is in its cheap range at 8.6x. On analysts' estimates for next year's earnings, today's price would be 11x.
KALU Forward outlook
| Metric | Outlook |
|---|---|
| Strongly deteriorating | |
| Growth | |
| Growth | |
| Stable | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for KALU, with profitability holding steady.
KALU Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $9.79 | -24% |
| Q3 2026 | $12.94 | +134% |
| Q2 2026 | $13.48 | +247% |
| Q1 2026 | $9.17 | +243% |
| Q4 2025 | $6.77 | +136% |
| Q3 2025 | $5.53 | +91% |
| Q2 2025 | $3.89 | +56% |
| Q1 2025 | $2.67 | -22% |
| Q4 2024 | $2.87 | -1.7% |
KALU earned $12.94 per share over the past year, up 134% from the year before.
KALU Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.2B | +44% |
| Q2 2026 | $1.3B | +53% |
| Q1 2026 | $1.1B | +42% |
| Q4 2025 | $929M | +21% |
| Q3 2025 | $843.5M | +13% |
| Q2 2025 | $823.1M | +6.4% |
| Q1 2025 | $777.4M | +5.4% |
| Q4 2024 | $765.4M | +6.1% |
KALU's revenue has grown year over year for nine quarters in a row: $1.2B last quarter, up 44% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 4.5% | -1.2 points |
| Q2 2026 | 11% | +6 points |
| Q1 2026 | 8.8% | +3.5 points |
| Q4 2025 | 6.5% | +3.6 points |
| Q3 2025 | 5.8% | +3.5 points |
| Q2 2025 | 4.6% | +2.6 points |
| Q1 2025 | 5.3% | +0.9 points |
| Q4 2024 | 2.9% | -0.1 points |
KALU's operating margin was 4.5% last quarter, down 1.2 points from the same quarter a year ago.
KALU Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $72.3M | +110% |
| Q2 2026 | $35.1M | +$62.8M |
| Q1 2026 | $68.5M | +264% |
| Q4 2025 | -$51.1M | -$38.5M |
| Q3 2025 | $34.5M | +$51.5M |
| Q2 2025 | -$27.7M | -$10.3M |
| Q1 2025 | $18.8M | -44% |
| Q4 2024 | -$12.6M | -125% |
KALU generated $125M in free cash flow over the past year, about 10 times what it generated the year before.
KALU Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.2% | -32K shares |
| 1 year | +1.6% | +274K shares |
| 3 years | +4.5% | +732K shares |
| 5 years | +6.5% | +1M shares |
| Available history | +4.2% | +683K shares |
KALU has 17M diluted shares, up 1.6% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2020 | — |
| Q3 2020 | — |
| Q2 2020 | — |
| Q1 2020 | $12.5M |
| Q4 2019 | $3.6M |
KALU Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 2.0x | Healthy |
| Q2 2026 | 2.1x | Moderate |
| Q1 2026 | 2.7x | Moderate |
| Q4 2025 | 3.4x | Elevated |
| Q3 2025 | 3.8x | Elevated |
| Q2 2025 | 4.5x | High |
| Q1 2025 | 4.8x | High |
| Q4 2024 | 5.0x | High |
KALU's net debt is about 2.0 years of its operating earnings (EBITDA), down from 3.8 years a year ago.
KALU Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 35.9 | Neutral |
| Stochastic | 9.0 | Oversold |
KALU's weekly RSI is 36 (neutral) and its Stochastic is 9 (oversold).
KALU PE vs Basic Materials Sector
| Metric | KALU | Sector median | Relative |
|---|---|---|---|
| PE | 8.6x | 19x | 54% below |
| PE % | 1 | 40 | 39 pts below |
KALU is trading at 8.6x earnings, a 54% discount to the Basic Materials sector's median of 19x.
KALU Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $130.6 | 15% below |
| 20 week MA | $150.5 | 26% below |
| 50 week MA | $145.9 | 24% below |
| 100 week MA | $110.5 | 0.4% above |
| 200 week MA | $92.9 | 20% above |
KALU has pulled back, but its long-term trend is still up: it's below its 8-, 20- and 50-week averages, but 20% above its 200-week average.
KALU Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $111.8 | $95.7 | -14% |
| 2021 | $95.7 | $96.3 | +0.6% |
| 2022 | $96.3 | $77.1 | -20% |
| 2023 | $77.1 | $71.2 | -7.6% |
| 2024 | $71.2 | $69.3 | -2.6% |
| 2025 | $69.3 | $117.6 | +70% |
| 2026 YTD | $117.6 | $111.0 | -5.6% |
KALU has finished lower in four of the last six years. It's down 5.6% so far in 2026.