Table of Contents PART I Throughout this Annual Report on Form 10-K, and unless expressly stated otherwise or as the context otherwise requires, "Century Aluminum Company," "Century Aluminum," "Century," the "Company," "we," "us," and "our" refer to Century Aluminum Company and its subsidiaries. Century Aluminum Company is a global producer of primary aluminum and operates aluminum reduction facilities, or "smelters," in the United States and Iceland. Aluminum is an internationally traded commodity, and its price is effectively determined on the London Metal Exchange (the "LME"), plus applicable regional and value-added product premiums. Our smelters produce standard-grade and value-added primary aluminum products. Our current annual production capacity was approximately 770,000 tonnes per year ("tpy") as of December 31, 2025. We produced approximately 638,000 tonnes of primary aluminum in 2025.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 2.5B | 2.5B | 2.2B | 2.2B | 2.8B | 2.2B |
| Net Income | 40M | 40M | 319M | -43M | -14M | -167M |
| EPS | $0.42 | $0.42 | $3.27 | $-0.47 | $-0.15 | $-1.85 |
| Free Cash Flow | 85M | 85M | -107M | 11M | -60M | -148M |
| ROIC | 21.5% | 18.0% | 15.5% | 3.8% | -1.9% | 11.7% |
| Gross Margin | 10.1% | 10.1% | 7.7% | 4.0% | 1.7% | 5.6% |
| Debt/Equity | 0.53 | 0.53 | 0.03 | 1.28 | 1.01 | 0.65 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 158M | 158M | 108M | 28M | -150M | 66M |
| Operating Margin | 6.3% | 6.3% | 4.9% | 1.3% | -5.4% | 3.0% |
| ROE | 5.0% | 5.3% | 60.7% | -11.4% | -3.4% | -34.6% |
| Shares Outstanding | 95M | 95M | 98M | 92M | 94M | 90M |
CENTURY ALUMINUM CO passes 2 of 9 quality checks, indicating weak fundamentals.
CENTURY ALUMINUM CO trades at 167.8x trailing earnings, compared to its 15-year median P/E of 22.3x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 508.8x vs a median of 49.7x. The company's 5-year average ROIC is 9.4% with a gross margin of 5.8%. At current prices, the estimated annualized return to fair value is -7.4%.
CENTURY ALUMINUM CO (CENX) has a current P/E ratio of 167.8, compared to its historical median P/E of 22.3. The stock is currently considered Expensive based on its historical valuation range.
CENTURY ALUMINUM CO (CENX) has a 5-year average return on invested capital (ROIC) of 9.4%. This is below average and may indicate limited pricing power.
CENTURY ALUMINUM CO (CENX) has a market capitalization of $6.1B. It is classified as a mid-cap stock.
CENTURY ALUMINUM CO (CENX) does not currently pay a regular dividend.
Based on historical P/E analysis, CENTURY ALUMINUM CO (CENX) appears expensive. The current P/E of 167.8 is 653% above its historical median of 22.3. The estimated fair value CAGR (P/E method) is 24.9%.
CENTURY ALUMINUM CO (CENX) operates in the Primary Production Of Aluminum industry, within the Materials sector.
CENTURY ALUMINUM CO (CENX) reported annual revenue of $2.5 billion in its most recent fiscal year, based on SEC EDGAR filings.
CENTURY ALUMINUM CO (CENX) has a net profit margin of 1.6%. This is a modest margin.
CENTURY ALUMINUM CO (CENX) generated $85 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
CENTURY ALUMINUM CO (CENX) has a debt-to-equity ratio of 0.53. This indicates moderate leverage.
CENTURY ALUMINUM CO (CENX) reported earnings per share (EPS) of $0.42 in its most recent fiscal year.
CENTURY ALUMINUM CO (CENX) has a return on equity (ROE) of 5.3%. This indicates moderate shareholder returns.
CENTURY ALUMINUM CO (CENX) has a 5-year average gross margin of 5.8%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 17 years of financial data for CENTURY ALUMINUM CO (CENX), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
CENTURY ALUMINUM CO (CENX) has a book value per share of $8.46, based on its most recent annual SEC filing.
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