CENTURY ALUMINUM CO
CENX · Primary Production of Aluminum · 99.0M shares · +1%/yr ↑ shares · EDGAR filings ↗
Net buyback after stock comp: $30M (gross $36M, SBC $7M)
Reference price $50.51 · est. market cap ~$5.0B — last insider sale, 2026-03-25 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
C60Commodity aluminum producer with thin margins, mid-pack returns, and a noted material weakness, partly offset by tariff-driven premium tailwinds.
Strengths
- Net income up 180% (86th pct) and operating margin 63rd pct, aided by elevated Midwest premiums
- Adequate liquidity (current ratio 1.97) and positive FCF (64th pct)
- Section 232 tariffs and IRA 45X credits supporting U.S. production economics
Risks
- Thin gross margin (9.1 pct) and low ROE (5.2%, 50th) / ROA (1.8%) — commodity-price dependent
- Disclosed material weakness in internal controls over financial reporting
- Energy-cost and power-supply exposure, Grundartangi outage, and Glencore concentration
Notable findings
- RestatementRecent 8-K item 4.02 8-K ↗
- Material weaknessHolly and idled capacity at Grundartangi • Increases in raw material costs and supply disruptions • Inability to realize benefits from capital projects • The formation of a joint venture project
- Strong balance sheetStrong balance sheet — $134M cash & investments
- Insider sellingInsider selling — 12 open-market sale(s) by 9 insider(s) (cluster of 9 insiders, ~$353M, last 6mo) Form 4 ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
10.1%
Operating margin
6.3%
Net margin
1.7%
Return on equity
5.2%
Return on assets
1.8%
Revenue growth (QoQ)
2.4%
Current ratio
2.0×
Free cash flow
$85M
EBITDA
$250M
Tangible book value
$806M
Cash & investments
$134M
Stock comp / revenue
1.9%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-15 | Berntzen Jarl | Grant | 2.2K | — |
| 2026-06-15 | GLASSER ERROL | Grant | 2.2K | — |
| 2026-06-15 | Michelmore Andrew G | Grant | 2.2K | — |
| 2026-06-15 | Michelmore Andrew G | Tax withheld | 652 | $54.55 |
| 2026-06-15 | Bush Jennifer Mary | Grant | 2.2K | — |
| 2026-06-15 | Olivier Tamla A | Grant | 2.2K | — |
| 2026-03-25 | Trpkovski Peter A | Sell | 17K | $50.51 |
| 2026-03-16 | Gary Jesse E | Sell | 150K | $55.47 |
| 2026-03-12 | Calloway Kenneth L | Sell | 18K | $58.00 |
| 2026-03-11 | Hoffman Robert F | Sell | 11K | $56.51 |
| 2026-03-04 | Hoffman Robert F | Sell | 10K | $56.33 |
| 2026-03-04 | GLENCORE INTERNATIONAL AG | Sell | 6.3M | $51.75 |
| 2026-03-03 | Aboud Matt | Sell | 3.0K | $52.67 |
| 2026-03-02 | Aboud Matt | Sell | 12K | $52.50 |
| 2026-02-27 | Hafberg Agust F | Sell | 23K | $51.24 |
| 2026-02-25 | Gudlaugsson Gunnar | Sell | 43K | $54.10 |
| 2026-02-23 | DeZee John | Sell | 66K | $50.72 |
| 2026-02-09 | Trpkovski Peter A | Tax withheld | 4.2K | $54.36 |
| 2026-01-23 | Gary Jesse E | Sell | 150K | $48.19 |
| 2026-01-12 | Gary Jesse E | Gift | 315K | — |
| 2026-01-12 | Gary Jesse E | Gift | 315K | — |
| 2026-01-01 | Hoffman Robert F | Grant | 5.1K | — |
| 2026-01-01 | Gary Jesse E | Grant | 57K | — |
| 2026-01-01 | Gudlaugsson Gunnar | Grant | 16K | — |
| 2026-01-01 | Hafberg Agust F | Grant | 5.2K | — |
| 2026-01-01 | Trpkovski Peter A | Grant | 13K | — |
| 2026-01-01 | DeZee John | Grant | 9.8K | — |
| 2026-01-01 | Calloway Kenneth L | Grant | 5.2K | — |
| 2026-01-01 | Aboud Matt | Grant | 5.5K | — |
| 2025-12-31 | Hafberg Agust F | Grant | 31K | — |
| 2025-12-31 | Hafberg Agust F | Tax withheld | 16K | $39.18 |
| 2025-12-31 | Hafberg Agust F | Tax withheld | 7.8K | $39.18 |
| 2025-12-31 | Aboud Matt | Tax withheld | 8.2K | $39.18 |
| 2025-12-31 | Trpkovski Peter A | Grant | 18K | — |
| 2025-12-31 | Trpkovski Peter A | Tax withheld | 8.1K | $39.18 |
| 2025-12-31 | Trpkovski Peter A | Tax withheld | 4.0K | $39.18 |
| 2025-12-31 | Aboud Matt | Grant | 37K | — |
| 2025-12-31 | Hoffman Robert F | Grant | 32K | — |
| 2025-12-31 | Hoffman Robert F | Tax withheld | 12K | $39.18 |
| 2025-12-31 | Hoffman Robert F | Tax withheld | 6.2K | $39.18 |
| 2025-12-31 | Gary Jesse E | Grant | 439K | — |
| 2025-12-31 | DeZee John | Grant | 54K | — |
| 2025-12-31 | DeZee John | Tax withheld | 21K | $39.18 |
| 2025-12-31 | DeZee John | Tax withheld | 12K | $39.18 |
| 2025-12-31 | Aboud Matt | Tax withheld | 16K | $39.18 |
| 2025-12-31 | Calloway Kenneth L | Grant | 18K | — |
| 2025-12-31 | Gary Jesse E | Tax withheld | 203K | $39.18 |
| 2025-12-31 | Gary Jesse E | Tax withheld | 68K | $39.18 |
| 2025-12-31 | Calloway Kenneth L | Tax withheld | 5.5K | $39.18 |
| 2025-12-31 | Gudlaugsson Gunnar | Grant | 83K | — |
| 2025-12-31 | Gudlaugsson Gunnar | Tax withheld | 42K | $39.18 |
| 2025-12-31 | Gudlaugsson Gunnar | Tax withheld | 21K | $39.18 |
| 2025-12-31 | Calloway Kenneth L | Tax withheld | 3.7K | $39.18 |
| 2025-11-10 | GLENCORE INTERNATIONAL AG | Sell | 9.0M | $30.25 |
| 2025-11-10 | GLENCORE INTERNATIONAL AG | Conversion | 4.9M | — |
| 2025-09-30 | GLENCORE INTERNATIONAL AG | Conversion | 2.8K | — |
| 2025-09-26 | Hafberg Agust F | Sell | 9.5K | $27.91 |
| 2025-09-19 | Calloway Kenneth L | Sell | 16K | $27.50 |
| 2025-08-12 | Aboud Matt | Sell | 12K | $23.27 |
| 2025-06-30 | GLENCORE INTERNATIONAL AG | Conversion | 16K | — |
| 2025-06-16 | Michelmore Andrew G | Tax withheld | 2.3K | $17.36 |
| 2025-06-16 | Bush Jennifer Mary | Grant | 7.8K | — |
| 2025-06-16 | Berntzen Jarl | Grant | 7.8K | — |
| 2025-06-16 | GLASSER ERROL | Grant | 7.8K | — |
| 2025-06-16 | Olivier Tamla A | Grant | 7.8K | — |
| 2025-06-16 | Michelmore Andrew G | Grant | 7.8K | — |
| 2025-03-31 | GLENCORE INTERNATIONAL AG | Conversion | 3.6K | — |
| 2025-03-21 | Trpkovski Peter A | Grant | 12K | — |
| 2025-03-20 | Hoffman Robert F | Sell | 5.0K | $20.24 |
| 2025-03-14 | Hoffman Robert F | Sell | 2.5K | $19.99 |
| 2025-02-07 | Trpkovski Peter A | Tax withheld | 4.5K | $18.69 |
| 2025-01-28 | Gary Jesse E | Gift | 127K | — |
| 2025-01-28 | Gary Jesse E | Gift | 127K | — |
| 2025-01-01 | Gary Jesse E | Grant | 84K | — |
| 2025-01-01 | Trpkovski Peter A | Grant | 6.0K | — |
| 2025-01-01 | Aboud Matt | Grant | 8.9K | — |
| 2025-01-01 | Hafberg Agust F | Grant | 7.8K | — |
| 2025-01-01 | Calloway Kenneth L | Grant | 7.8K | — |
| 2025-01-01 | Gudlaugsson Gunnar | Grant | 25K | — |
| 2025-01-01 | DeZee John | Grant | 15K | — |
| 2025-01-01 | Hoffman Robert F | Grant | 8.3K | — |
| 2025-01-01 | Bialek Gerald C | Grant | 18K | — |
| 2024-12-31 | Aboud Matt | Tax withheld | 2.5K | $18.22 |
| 2024-12-31 | GLENCORE INTERNATIONAL AG | Conversion | 210K | — |
| 2024-12-31 | Hoffman Robert F | Grant | 14K | — |
| 2024-12-31 | Hoffman Robert F | Tax withheld | 5.4K | $18.22 |
| 2024-12-31 | Hoffman Robert F | Tax withheld | 1.9K | $18.22 |
| 2024-12-31 | Gary Jesse E | Grant | 186K | — |
| 2024-12-31 | Gary Jesse E | Tax withheld | 82K | $18.22 |
| 2024-12-31 | Gary Jesse E | Tax withheld | 19K | $18.22 |
| 2024-12-31 | Gudlaugsson Gunnar | Grant | 35K | — |
| 2024-12-31 | Gudlaugsson Gunnar | Tax withheld | 18K | $18.22 |
| 2024-12-31 | Gudlaugsson Gunnar | Tax withheld | 6.1K | $18.22 |
| 2024-12-31 | Hafberg Agust F | Grant | 14K | — |
| 2024-12-31 | Hafberg Agust F | Tax withheld | 7.2K | $18.22 |
| 2024-12-31 | Hafberg Agust F | Tax withheld | 2.5K | $18.22 |
| 2024-12-31 | DeZee John | Grant | 26K | — |
| 2024-12-31 | DeZee John | Tax withheld | 7.6K | $18.22 |
| 2024-12-31 | DeZee John | Tax withheld | 2.6K | $18.22 |
| 2024-12-31 | Calloway Kenneth L | Grant | 7.3K | — |
| 2024-12-31 | Calloway Kenneth L | Tax withheld | 3.3K | $18.22 |
| 2024-12-31 | Calloway Kenneth L | Tax withheld | 1.1K | $18.22 |
| 2024-12-31 | Aboud Matt | Grant | 16K | — |
| 2024-12-31 | Aboud Matt | Tax withheld | 7.4K | $18.22 |
| 2024-12-31 | Trpkovski Peter A | Grant | 4.6K | — |
| 2024-12-31 | Trpkovski Peter A | Tax withheld | 2.0K | $18.22 |
| 2024-12-31 | Trpkovski Peter A | Tax withheld | 703 | $18.22 |
All non-derivative Form 4 activity (SEC), newest first.
Supply chain
Customers (0)
Suppliers (1)
- Public Service Company of Oklahoma
Named in the 10-K; linked when we track them.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-17 | Shareholder voteExhibits | filing ↗ |
| 2026-05-07 | ResultsExhibits | filing ↗ |
| 2026-03-03 | Non-reliance/restatement | filing ↗ |
| 2026-02-19 | ResultsExhibits | filing ↗ |
| 2026-02-02 | Material agreementAcquisition/dispositionReg FDExhibits | filing ↗ |
| 2025-11-21 | ResultsExhibits | filing ↗ |
| 2025-11-06 | Acquisition/dispositionExhibits | filing ↗ |
| 2025-10-22 | Reg FDExhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-17 | 2026-06-15 | 0001628280-26-043936 ↗ |
| 10-Q | 2026-05-07 | 2026-03-31 | 0001628280-26-032094 ↗ |
| 8-K | 2026-05-07 | 2026-05-07 | 0001628280-26-032082 ↗ |
| 10-K | 2026-03-03 | 2025-12-31 | 0001628280-26-013788 ↗ |
| 8-K | 2026-03-03 | 2026-03-02 | 0001628280-26-013781 ↗ |
| 8-K | 2026-02-19 | 2026-02-19 | 0001628280-26-009831 ↗ |
| 8-K | 2026-02-02 | 2026-02-02 | 0001104659-26-009212 ↗ |
| 8-K/A | 2025-11-21 | 2025-11-06 | 0001628280-25-053603 ↗ |
| 8-K | 2025-11-06 | 2025-11-06 | 0001628280-25-050179 ↗ |
| 10-Q | 2025-11-06 | 2025-09-30 | 0001628280-25-050200 ↗ |
| 8-K | 2025-10-22 | 2025-10-21 | 0001104659-25-101317 ↗ |
| 10-Q | 2025-08-07 | 2025-06-30 | 0001628280-25-038882 ↗ |