KALUKaiser Aluminum Corporation

$151.45+100% 1Y

Is the business good?

Good

A genuinely good business: 7 of 9 health tests passed and margins widening.

2 good, 2 neutral
Fundamental health (F-score)7 / 9SEC EDGAR · Dec 31, 2025

High fundamental quality. Nine pass/fail tests of year-over-year health from the filings.

Profits arrive as cash0.72×derived · Jun 30, 2026

Operating profit is mostly backed by cash. Conversion is worsening vs a year ago.

Margin direction, 3 years+6.9 pts

Positive operating leverage, operating profit is growing faster than sales, so margins widen as the business scales.

Where ROE comes from5% ROA

A balanced mix of margins, efficiency, and leverage. ROE 17% = margin × turnover × leverage.

Unless marked, from derived.

Against the whole market›

Percentile against every name Ryufin tracks. Higher is better; the tick marks the middle of the market. Context, not one of the checks above.

FCF conversionbehind 85% of the market
Leverage (Debt/EBITDA)middle of the market

Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.

How good a business is KALU?

Kaiser Aluminum Corporation earns 14% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.

14%

Return on invested capital · cost of capital 9.0% · 5.0 points above what the capital costs: growth creates value

Operating margin
8.2%

Operating margin · Basic Materials median 9.9% · 12 months to Q2 2026

Cash conversion
0.72×

Cash conversion · 1.54× a year ago · most of the operating profit arrived as cash, working capital took the rest

Share count, year on year
+2.7%

Share count, year on year · shareholders own a smaller slice than a year ago

Operating margin by fiscal year
YearOperating margin
FY20206.9%
FY20212.5%
FY20220.12%
FY20234.0%
FY20243.7%
FY20255.6%
Details›
Gross margin12 months to Q2 2026
15%
Operating margin12 months to Q2 2026
8.2%
Net margin12 months to Q2 2026
5.5%
Free cash flow margin
2.1%
Revenue, trailing twelve months
$4.14B
Free cash flow, trailing twelve months
$87M
Net income, trailing twelve months
$227M
Return on invested capitaloperating profit after tax ÷ debt + equity − cash
14%

Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.