Kaiser Aluminum Corporation (KALU) is a Materials stock trading at $162.68 (as of 2026-09-02), with a market capitalization of $2.66B and a trailing P/E of 11.7. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.
Kaiser Aluminum Corporation engages in manufacture and sale of semi-fabricated specialty aluminum mill products in the United States and internationally. The company offers rolled, extruded, and drawn aluminum products used for aerospace and defense, aluminum beverage and food packaging, automotive and general engineering products. The company's automotive extrusions include extruded aluminum products for structural components, crash management systems, anti-lock braking systems, and drawn tubes for drive shafts, as well as offers fabrication services, including sawing and cutting to length. Its packaging products consist of bare and coated 3000- and 5000-series alloy aluminum coil used for beverage and food packaging industry; and Its general engineering products comprise alloy plate, sheet, rod, bar, tube, wire, and standard extrusion shapes used in various applications, including the production of military vehicles, ordnances, semiconductor manufacturing cells, electronic devices, after-market motor sport parts, tooling plates, parts for machinery and equipment, bolts, screws, nails, and rivets. In addition, it offers rerolled, extruded, drawn, and cast billet aluminum products for industrial end uses. It sells its products directly to customers through sales personnel located in the United States, Canada, Western Europe, and China, as well as through independent sales agents in other regions of Asia, Latin America, and the Middle East. The company was founded in 1946 and is headquartered in Foothill Ranch, California.
Kaiser Aluminum makes specialty aluminum products (rolled sheets, extrusions, drawn tubes) for aerospace, packaging, automotive, and general engineering, earning a conversion fee on top of metal pass-through pricing. Three-quarters of revenue is commodity metal at cost, so the real profit is the conversion spread on roughly 290 million pounds shipped per quarter.
The profit model is a thin conversion fee (about $1.24 per pound) layered on commodity aluminum pass-through, so earnings swing with metal-lag timing and any plant disruption hits the spread directly.
Business quality (Solid): A 9.5x P/E alongside a 28% ROE and a 'Solid' business grade looks attractive, but 11% operating margins on a semi-fabricated metal model leave limited cushion if conversion fees compress or metal prices move against the lag spread.
Valuation: At 10× earnings, KALU trades 56% below the Steel Works average (22×). Note: the low multiple may reflect one-time earnings items.
| Price | $162.68 |
| Market Cap | $2.66B |
| P/E Ratio | 11.7 |
| EV / EBITDA | 7.8 |
| Price / Book | 2.82 |
| Price / Sales | 0.64 |
| FCF Yield | -1.0% |
| DCF Value (model) | $17.92 |
| DCF Upside vs Price | -89.0% |
| Revenue (TTM) | $3.37B |
| Net Margin | 3.3% |
| Revenue Growth (YoY) | 52.7% |
| EPS Growth (YoY) | 311.1% |
| FCF Growth (YoY) | -1264.0% |
| Altman Z-Score | 2.94 (grey) |
| Piotroski F-Score | 7/9 (strong) |
| Stock P/E | 11.7 |
| Sector P/E (Materials) | 23.9 |
| Industry P/E (Steel Works) | 21.0 |
| vs Sector | -51.0% |
| vs Industry | -44.3% |
| Top Institutional Holder | BlackRock, Inc. ($342.60M) |
| Institutional Holders Tracked | 10 |
| Sector | Materials |
| Industry | Steel Works |
| CEO | Keith A. Harvey |
| Employees | 3,900 |
| Country | US |
| IPO Date | 2006-07-07 |
Data as of 2026-09-02.
Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.