Alcoa Corp vs Steel Dynamics, Inc., two Steel stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Steel Dynamics and Alcoa are both efficient commodity-metal producers, one in steel and one in aluminum, and the market prices them on similar cyclical terms. Steel Dynamics earns the tidy margins of a well-run steelmaker, 7.22% net and 14.97% on equity, against Alcoa's 8.17% and 15.15%, a near-match. Alcoa is cheaper, 13.9 times earnings against Steel Dynamics's 26.3, and trades at 2.11 times book against 3.89. Steel Dynamics carries more debt at 0.46 turns against Alcoa's near-zero. Both are quality operators in unglamorous metals. The comparison is a coin-flip on economics that pivots on price: Alcoa offers the same returns at a lower multiple and lighter balance sheet, Steel Dynamics the premium reputation of America's best-run steel growth story.
Comparison updated 2026-07-11.
| Metric | AA | STLD |
|---|---|---|
| Price | $54.10 | $245.54 |
| Market cap | $14.4B | $35.7B |
| Sector | Steel | Steel |
| Stage | Cyclical | Cyclical |
| Implied growth (priced in) | +3.6% | — |
| P/E | 13.9 | 26.3 |
| P/B | 2.11 | 3.89 |
| P/S | 1.14 | 1.88 |
| EV/EBITDA | 20.6 | 17.0 |
| Revenue growth | +0.2% | +10.7% |
| Gross margin | — | 14.7% |
| Operating margin | — | 10.3% |
| Net margin | 8.2% | 7.2% |
| Return on equity | 15.2% | 15.0% |
| Return on assets | 6.2% | 8.2% |
| Return on invested capital | — | 10.1% |
| FCF yield | 2.0% | 1.9% |
| Dividend yield | 0.2% | 0.8% |
| Debt / equity | 0.02 | 0.46 |
| Current ratio | 1.48 | 3.13 |
| Altman Z (solvency) | 1.79 | 5.74 |
| Piotroski F (quality) | 4 / 9 | 7 / 9 |
Each week boothcheck ranks the stocks whose prices are betting on the most. Read the most stretched bets archive →
boothcheck is also on Android. Get the app on Google Play →
The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.