HOWMET AEROSPACE INC.
Fiscal years labelled by the calendar year in which they end. Bars in $ billions; per-share figures as reported.
CAPITALIZATION 12/31/25
| ($ millions) | Amount | % |
|---|---|---|
| Total debt | 3,050 | 36.3 |
| Stockholders' equity | 5,353 | 63.7 |
| Total capitalization | 8,403 | 100.0 |
398,801,399 shares outstanding at 3 August 2026 (cover page of the 10-Q filed 6 August 2026).
LONG-TERM DEBT 12/31/25
| ($ millions) | Amount |
|---|---|
| Long-term debt, incl. current maturities | 3,050 |
| Long-term debt, noncurrent | 2,859 |
| Current maturities | 191 |
| Short-term borrowings / commercial paper | 0 |
CAPITAL STOCK 12/31/25
| Common shares authorized | 600,000,000 |
| Common shares issued | 401,620,565 |
| Par or stated value per share ($) | 1 |
| Preferred stock ($ millions) | 0 |
| Outstanding at 8/3/26 | 398,801,399 |
DIVIDENDS DECLARED/PAID
| Fiscal year | Per share $ | Payout % |
|---|---|---|
| 2025 | 0.44 | 11.9 |
| 2024 | 0.26 | 9.3 |
| 2023 | 0.17 | 9.3 |
| 2022 | 0.10 | 9.0 |
| 2021 | 0.04 | 6.8 |
HISTORY AND BUSINESS
HISTORY: Incorporated in Delaware. Formerly known as Arconic Inc. (to 26 March 2020); ALCOA INC. (to 27 October 2016); ALCOA INC (to 3 October 2014); ALUMINUM CO OF AMERICA (to 4 January 1999).
BUSINESS: Classified by the SEC under Standard Industrial Classification 3350, Rolling Drawing & Extruding of Nonferrous Metals. Large accelerated filer. Principal executive office: 201 Isabella Street, Suite 200, Pittsburgh, PA 15212-5872. Fiscal year ends December 31. For a description of the business, see Item 1 of the latest 10-K.
CONSOLIDATED INCOME ACCOUNT, YEARS ENDED
| ($ millions) | 12/31/25 | 12/31/24 | 12/31/23 |
|---|---|---|---|
| Revenues | 8,252 | 7,430 | 6,640 |
| Research and development | 37 | 33 | 36 |
| Selling, general and administrative | 370 | 347 | 333 |
| Depreciation and amortization | 283 | 277 | 272 |
| Operating income | 2,046 | 1,633 | 1,203 |
| Interest expense | – | – | 218 |
| Income before income taxes | 1,840 | 1,383 | 975 |
| Income taxes | 332 | 228 | 210 |
| Net income | 1,508 | 1,155 | 765 |
| Earned per share, diluted ($) | 3.71 | 2.81 | 1.83 |
| Dividends per share ($) | 0.44 | 0.26 | 0.17 |
CONSOLIDATED BALANCE SHEET
| ($ millions) | 12/31/25 | 12/31/24 |
|---|---|---|
| Cash and equivalents | 742 | 564 |
| Receivables, net | 779 | 689 |
| Inventories | 1,849 | 1,840 |
| Total current assets | 3,779 | 3,362 |
| Property, plant and equipment, net | 2,593 | 2,386 |
| Goodwill | 4,022 | 4,010 |
| Total assets | 11,179 | 10,519 |
| Total current liabilities | 1,771 | 1,549 |
| Long-term debt | 2,859 | 3,309 |
| Total liabilities | 5,826 | 5,965 |
| Stockholders' equity | 5,353 | 4,554 |
| Total liabilities and equity | 11,179 | 10,519 |
TEN-YEAR STATISTICS: FISCAL YEARS ($ millions except per share)
| Fiscal year ended | Revenues | Oper. income | Net income | Net margin % | EPS diluted $ | Div. per share $ | Oper. cash flow | Capital expend. | Free cash flow | Total assets | Total liabilities | Total debt | Stockholders' equity | ROE % | Debt / equity |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 12/31/25 | 8,252 | 2,046 | 1,508 | 18.3 | 3.71 | 0.44 | 1,884 | 453 | 1,431 | 11,179 | 5,826 | 3,050 | 5,353 | 28.2 | 0.57 |
| 12/31/24 | 7,430 | 1,633 | 1,155 | 15.5 | 2.81 | 0.26 | 1,298 | 321 | 977 | 10,519 | 5,965 | 3,315 | 4,554 | 25.4 | 0.73 |
| 12/31/23 | 6,640 | 1,203 | 765 | 11.5 | 1.83 | 0.17 | 901 | 219 | 682 | 10,428 | 6,391 | 3,706 | 4,037 | 18.9 | 0.92 |
| 12/31/22 | 5,663 | 919 | 469 | 8.3 | 1.11 | 0.10 | 733 | 193 | 540 | 10,255 | 6,654 | 4,162 | 3,601 | 13.0 | 1.16 |
| 12/31/21 | 4,972 | 748 | 258 | 5.2 | 0.59 | 0.04 | 449 | 199 | 250 | 10,219 | 6,711 | 4,237 | 3,508 | 7.4 | 1.21 |
| 12/31/20 | 5,259 | 626 | 261 | 5.0 | 0.48 | 0.02 | 9 | 267 | (258) | 11,443 | 7,866 | 5,451 | 3,577 | 7.3 | 1.52 |
| 12/31/19 | 7,098 | 579 | 470 | 6.6 | 1.03 | 0.12 | 461 | 641 | (180) | 17,562 | 12,957 | 6,974 | 4,591 | 10.2 | 1.52 |
| 12/31/18 | 6,778 | 775 | 642 | 9.5 | 1.30 | 0.24 | 217 | 768 | (551) | 18,693 | 13,108 | 6,735 | 5,573 | 11.5 | 1.21 |
| 12/31/17 | 12,960 | 480 | (74) | -0.6 | (0.28) | 0.24 | (39) | 596 | (635) | 18,718 | 13,794 | 6,845 | 4,910 | -1.5 | 1.39 |
| 12/31/16 | 12,394 | 954 | (941) | -7.6 | (2.31) | 0.36 | 95 | 1,125 | (1,030) | 20,038 | 14,897 | 8,088 | 5,115 | -18.4 | 1.58 |
Net margin = net income ÷ revenues; ROE = net income ÷ year-end stockholders’ equity; total debt = long-term debt including current maturities plus short-term borrowings/commercial paper, as tagged in XBRL; free cash flow = operating cash flow − purchases of property, plant and equipment; d = derived as total assets − total equity where the filing does not tag total liabilities; – = not reported in XBRL for that year.
REGISTRANT:
Howmet Aerospace Inc.
CIK 4281 · EIN 25-0317820
PRINCIPAL OFFICE:
201 Isabella Street, Suite 200, Pittsburgh, PA 15212-5872
Tel.: (412) 553-1940
INCORPORATED:
Delaware
INDUSTRY (SEC SIC CODE):
3350 · Rolling Drawing & Extruding of Nonferrous Metals
FILER STATUS:
Large accelerated filer
LATEST ANNUAL REPORT:
10-K for period ended 12/31/25, filed 12 February 2026
FORMER NAMES:
Arconic Inc.; ALCOA INC.; ALCOA INC
Sources: SEC XBRL company facts (all financial figures) · SEC submissions (registrant, address, SIC, filings) · annual reports: 10-K FY2025 (filed 2/12/26) · 10-K FY2024 (filed 2/14/25) · 10-K FY2023 (filed 2/13/24) · 10-K FY2022 (filed 2/14/23) · 10-K FY2021 (filed 2/14/22) · 10-K FY2020 (filed 2/16/21) · 10-K FY2019 (filed 2/27/20) · 10-K FY2018 (filed 2/21/19). Values are the latest figures filed for each fiscal year (restated where a later 10-K restated them). Ratios and free cash flow are Pathos calculations from those figures. Retrieved 31 October 2026.
Data from SEC filings. © 2026 Pathos Investments · pathosinvestments.com · For educational purposes only. Not investment advice.