Alcoa Corp (NYSE:AA)

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Price: 48.01 USD +3.2%

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Relative Value

The Relative Value of one AA stock under the Base Case scenario is 63.71 USD. Compared to the current market price of 48.01 USD, Alcoa Corp is Undervalued by 25%.

Relative valuation is one of two methods of placing a monetary value on a company; the other is Discounted Cash Flow valuation method. We use a combination of these two methods to calculate the Intrinsic Value of stock as accurately as possible.

What is Relative Valuation?

How is Relative Value calculated?

AA Relative Value

Base Case

Worst Case

Base Case

Best Case

Valuation Multiples

0.6

P/S

Median	0.6
Industry	1.4
Forward Multiple	0.7

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N/A

P/E

Median	-
Industry	11.5
Forward Multiple	7.6

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6.7

P/OCF

Median	6.9
Industry	7.7
Forward Multiple	N/A

More Details

10.8

P/FCFE

Median	11
Industry	12
Forward Multiple	N/A

More Details

1.6

P/B

Median	1.5
Industry	1.7
Forward Multiple	N/A

More Details

0.7

EV/S

Median	0.6
Industry	1.7
Forward Multiple	0.7

More Details

2.8

EV/GP

Median	3.3
Industry	6.1
Forward Multiple	N/A

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EV/EBITDA

Median	3.6
Industry	8.6
Forward Multiple	3.7

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3.9

EV/EBIT

Median	5.8
Industry	10.4
Forward Multiple	4.8

More Details

6.9

EV/OCF

Median	7.8
Industry	8.8
Forward Multiple	N/A

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10.9

EV/FCFF

Median	19.9
Industry	12.6
Forward Multiple	N/A

More Details

0.7

EV/IC

Median	0.6
Industry	1.7
Forward Multiple	N/A

More Details

Multiples Across Competitors

All Multiples

P/S

P/E

EV/EBITDA

EV/EBIT

Forward Multiples

			Market Cap	P/S	P/E	EV/EBITDA	EV/EBIT
US		Alcoa Corp NYSE:AA	8.5B USD	0.6	N/A	3	3.9
NO		Norsk Hydro ASA OTC:NHYKF	14.9B USD	0.7	5	3.4	4
RU		OK Rusal MKPAO OTC:UNRIF	13.9B USD	1	4.8	4.7	5.6
IN		Hindalco Industries Ltd NSE:HINDALCO	1.1T INR	0.5	7.8	5.1	6.7
CN		Aluminum Corporation of China Ltd SSE:601600	83.1B CNY	0.3	19.1	11.1	11.1
CN	C	China Hongqiao Group Ltd HKEX:1378	70.8B HKD	0.5	4	1.6	1.6

			P/S Multiple	Revenue Growth
US		Alcoa Corp NYSE:AA	0.6	10%
NO		Norsk Hydro ASA OTC:NHYKF	0.7	25%
RU		OK Rusal MKPAO OTC:UNRIF	1	6 153%
IN		Hindalco Industries Ltd NSE:HINDALCO	0.5	5%
CN		Aluminum Corporation of China Ltd SSE:601600	0.3	12%
CN	C	China Hongqiao Group Ltd HKEX:1378	0.5	19%

			P/E Multiple	Earnings Growth
US		Alcoa Corp NYSE:AA	Negative Multiple	157%
NO		Norsk Hydro ASA OTC:NHYKF	5	-19%
RU		OK Rusal MKPAO OTC:UNRIF	4.8	4 594%
IN		Hindalco Industries Ltd NSE:HINDALCO	7.8	-5%
CN		Aluminum Corporation of China Ltd SSE:601600	19.1	49%
CN	C	China Hongqiao Group Ltd HKEX:1378	4	13%

			EV/EBITDA Multiple	EBITDA Growth
US		Alcoa Corp NYSE:AA	3	-3%
NO		Norsk Hydro ASA OTC:NHYKF	3.4	-32%
RU		OK Rusal MKPAO OTC:UNRIF	4.7	3 996%
IN		Hindalco Industries Ltd NSE:HINDALCO	5.1	-1%
CN		Aluminum Corporation of China Ltd SSE:601600	11.1	52%
CN	C	China Hongqiao Group Ltd HKEX:1378	1.6	30%

			EV/EBIT Multiple	EBIT Growth
US		Alcoa Corp NYSE:AA	3.9	47%
NO		Norsk Hydro ASA OTC:NHYKF	4	-28%
RU		OK Rusal MKPAO OTC:UNRIF	5.6	5 273%
IN		Hindalco Industries Ltd NSE:HINDALCO	6.7	-5%
CN		Aluminum Corporation of China Ltd SSE:601600	11.1	21%
CN	C	China Hongqiao Group Ltd HKEX:1378	1.6	15%

Forward Multiples

Alcoa Corp
NYSE:AA

Relative Value

Valuation Multiples

Multiples Across Competitors

AA Competitors Multiples
Alcoa Corp Competitors

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Stocks

Alcoa Corp NYSE:AA

Relative Value

Valuation Multiples

Multiples Across Competitors

AA Competitors Multiples Alcoa Corp Competitors

See Also

Company

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Stocks

Alcoa Corp
NYSE:AA

AA Competitors Multiples
Alcoa Corp Competitors