Novelis Inc's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Novelis Inc (NVLCN) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Novelis Inc vs Its Competitors
- TTM: Trailing 12-month revenue of 19,510M vs 110,374M combined for tracked competitors (15.0% combined share).
- Trending: Latest-quarter revenue run-rate is accelerating (+18.8% annualized vs trailing 12 months), vs accelerating (+16.7%) for its tracked peer group.
- Growth: Novelis Inc generated 22.8% revenue growth year over year in Q1 2026, vs 28.6% for its tracked competitors combined.
- Profitability: Its 2.8% net margin compares with 11.7% for the peer group.
- Peer revenue share: Novelis Inc accounted for 15.3% of combined revenue among its tracked peer group, down from 15.9% a year earlier.
- Peer differentiation: Revenue per employee of $1.77M compares with $1.36M for the peer group (1.3x).
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
NVLCN Sales vs. its Competitors, Q1 2026
Novelis Inc reported revenue growth of 22.81 % year on year in Q1 2026, below its competitors' combined revenue growth of 28.55 %.
With a net margin of 2.83 %, Novelis Inc reported lower profitability than its competitors (11.67 %).
Novelis Inc generated 15.25 % of the combined sales of its peer group, down from 15.85 % a year earlier.
Novelis Inc vs. its Competitors, Q1 2026
Revenue growth, year on year
Net income growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in an SEC filing; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Novelis Inc and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Novelis Inc | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| High-Confidence Competitors (3) | $12,345M | +12.3% · Accelerating |
| Similar Growth & Profitability (6) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Novelis Inc's competitor groups requires a Commercial License.
For context: the Miscellaneous Fabricated Products industry grew revenue 19.9% year over year, combined, vs 22.8% for Novelis Inc. Novelis Inc's share of combined industry revenue moved from 7.95% to 8.14%, a gain of 0.19 percentage points.
Novelis Inc's Competitor Quality Breadth
Share of each group, trailing 12 months: profitable (net margin > 0), expanding (revenue growth > 0), growing faster than the industry's own median, and financially distressed (Piotroski F-Score of 2 or below).
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Novelis Inc | Yes | Yes | Yes | No |
| Competitors combined (20) | ||||
| High-Confidence Competitors (6) | ||||
| Similar Growth & Profitability (8) | 100.00 % (8 of 8) | 100.00 % (8 of 8) | 100.00 % (8 of 8) | 14.30 % (1 of 7) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
NVLCN Stock Performance relative to its Competitors
NVLCN Stock Performance relative to High-Confidence Competitors
NVLCN Stock Performance relative to Similar Growth & Profitability Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | Viavi Solutions Inc | 282.9% | Outperformed |
| 2 | Ati Inc | 282.9% | Outperformed |
| 3 | Materion Corporation | 282.9% | Outperformed |
| 4 | Kaiser Aluminum Corporation | 282.9% | Outperformed |
| 5 | Arcelormittal | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Novelis Inc's best-performing tracked competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Novelis Inc's Comment on Competition and Industry Peers
The aluminum rolled products market is highly competitive and is characterized
by economies of scale; and significant capital investments are required to achieve
and maintain technological capabilities and demanding customer qualification
standards. We face competition from a number of companies in all of the geographic
regions and end-use markets in which we operate. Our primary competitors are
as follows:
North America
Asia
Alcoa, Inc. (Alcoa)
Alcoa Bohai Aluminum Industries Co., Ltd
Aleris International, Inc. (Aleris)
UACJ Corporation
Constellium N.V. (Constellium)
Kobe Steel Ltd.
Noranda Aluminum, Inc.
Shandong Nanshan Aluminum Co., Ltd
UACJ Corporation/ Tri-Arrows Aluminum Inc. (Tri-Arrows)
Chinalco Group
Henan Mingtai Aluminum Industrial Co., Ltd
Europe
Henan Zhongfu Industrial Co., Ltd
Alcoa
Binzhou Weiqiao Aluminium Science & Technology Co., Ltd
Aleris
China Zhongwang Holdings Limited
Norsk Hydro A.S.A.
Constellium
South America
Alcoa
Companhia Brasileira de Alumínio
The factors influencing competition vary by region and end-use market, but generally
we compete on the basis of our value proposition; which includes price, product
quality, the ability to meet customers’ specifications, range of products
offered, lead times, technical support and customer service. In some end-use
markets, competition is also affected by fabricators’ requirements that
suppliers complete a qualification process to supply their plants. This process
can be rigorous and may take many months to complete. As a result, obtaining
business from these customers can be a lengthy and expensive process. However,
the ability to obtain and maintain these qualifications can represent a competitive
advantage.
In addition to competition from others within the aluminum rolled products industry,
we also face competition from non-aluminum material producers. In the packaging
end-use market (primarily beverage and food cans), aluminum rolled products
compete mainly with glass, PET plastic, and in some regions, steel. In the transportation
end-use market, aluminum rolled products compete mainly with steel and composites.
Aluminum competes with wood, plastic, cement and steel in building products
applications. In the consumer durables end-use market, aluminum rolled products
compete mainly with plastic, steel, and magnesium. Additionally, aluminum competes
with steel, cooper, plastic, and glass in industrial applications. Factors affecting
competition with substitute materials include price, ease to manufacture, consumer
preference and performance characteristics.
Publicly Traded Peers of Novelis Inc
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
| Novelis Inc | - | 19,510.00 |
| Nucor Corporation | 55,865.97 | 36,101.00 |
| Arcelormittal | 53,505.10 | 61,352.00 |
| Steel Dynamics Inc | 33,312.32 | 20,538.68 |
| Ati Inc | 24,986.66 | 4,715.20 |
| Mueller Industries Inc | 13,486.08 | 4,661.14 |
| SUBTOTAL | 244,629.88 | 208,341.44 |
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Sources: Novelis Inc's official press releases and regulatory filings; CSIMarket.com's market research; and the financial filings and press releases of the other companies cited.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Novelis Inc versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Novelis Inc's Competitors Named by the Company
Competitive relationships identified from SEC filings and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| Commonwealth Rolled Products | Named by the company | 85% |
| JW Aluminum | Named by the company | 85% |
| Southwest Aluminum (Group) Co., Ltd. | Named by the company | 85% |
| Alcoa, Inc. | Named by the company | 85% |
| China Zhongwang Holdings Limited | Named by the company | 85% |
| Henan Mingtai Aluminum Industrial Co., Ltd. | Named by the company | 85% |
| Ma'aden - Saudi Arabian Mining Company | Named by the company | 85% |
| UACJ Corporation/Tri-Arrows | Named by the company | 85% |
| Constellium Se | Named by the company | 85% |
| Arconic Commonwealth Rolled Products | Named by the company | 85% |
| Golden Aluminum | Named by the company | 85% |
| Kobe | Named by the company | 85% |
| Tri-Arrows Aluminum Inc. | Named by the company | 85% |
| ALVANCE | Named by the company | 85% |
| Chinalco Group | Named by the company | 85% |
| Henan Zhongfu Industrial Co., Ltd. | Named by the company | 85% |
| Shandong Nanshan Aluminum Co., Ltd. | Named by the company | 85% |
| UACJ Corporation/Tri-Arrows Aluminum Inc. | Named by the company | 85% |
| Kaiser Aluminum Corporation | Named by the company | 85% |
| Binzhou Weiqiao Aluminium Science & Technology Co., Ltd. | Named by the company | 85% |
| Gränges AB | Named by the company | 85% |
| Kobe Steel, Ltd. | Named by the company | 85% |
| UACJ Corporation | Named by the company | 85% |
| Ardagh Metal Packaging S a | Named by the company | 85% |
| AMAG Austria | Named by the company | 85% |
Filing basis, confidence, active dates and source counts for Novelis Inc's named competitors require a Commercial License.
Methodology: relationships are extracted from SEC filings (named-competitor disclosures) and corroborating sources. Named by the company = explicitly disclosed as a competitor; Inferred = derived from corroborating signals. Confidence reflects evidence strength.
Novelis Inc's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| Novelis Inc | North America 43.03 % |
| Nucor Corporation | Steel mills 63.56 % |
| Ati Inc | High Performance Materials & Components 56.92 % |
| Mueller Industries Inc | Piping Systems 63.75 % |
| United States Steel Corp | Flat Rolled Products 60.10 % |
| Alcoa Corp | Aluminum 79.58 % |
Source: operating segment revenue as reported in each company's SEC filings (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
Novelis Inc's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Novelis Inc | - | 1,773,636 | 7,545 |
| Nucor Corporation | 55,866 | 1,093,970 | 98,667 |
| Arcelormittal | 53,505 | 475,596,899 | 25,139,535 |
| Steel Dynamics Inc | 33,312 | 1,426,297 | 111,065 |
| Ati Inc | 24,987 | 620,421 | 64,329 |
| Mueller Industries Inc | 13,486 | 964,639 | 177,331 |
| PEERS TOTAL | 244,630 | 1,360,232 | 93,378 |
Novelis Inc's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent filing. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| Novelis Inc | United States 44.48 % |
| Steel Dynamics Inc | US 92.24 % |
| Ati Inc | United States 60.14 % |
| Viavi Solutions Inc | United States 37.92 % |
| Remitly Global Inc | United States 65.76 % |
| Century Aluminum Company | United States 86.55 % |
Source: revenue geography as reported in each company's SEC filings (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
Novelis Inc's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Miscellaneous Fabricated Products industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (65 companies).| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 16.06 % | 29.68 % (avg) | -13.6 pp |
| Operating Margin | 7.95 % | industry median | -3.7 pp |
| EBITDA Margin | 4.80 % | 11.51 % (avg) | -6.7 pp |
| Capital Intensity (Capex / Revenue) | 14.00 % | 8.98 % (avg) | +5.0 pp |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Novelis Inc's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in SEC filings.| Metric | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue Growth | 8.84 % | -4.78 % | -1.76 % | 40.10 % | 18.88 % | -12.72 % | 0.66 % | 9.59 % |
| Operating Margin | 7.77 % | 27.39 % | 88.09 % | -3.09 % | 6.35 % | 6.25 % | 7.05 % | 6.76 % |
| Return on Invested Capital | 12.85 % | 39.23 % | 96.48 % | -4.58 % | 9.80 % | 7.74 % | 8.48 % | 7.50 % |
| P/E | - | - | - | - | - | - | - | - |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Novelis Inc's Strategic Group Map
Every company in Novelis Inc's industry and named-competitor list, plotted by trailing 12-month revenue growth and operating margin. Novelis Inc is shown in red; its closest peers by combined growth, margin and ROIC (the Similar Growth & Profitability group above) are labeled.
Source: CSIMarket API, trailing 12 months. Extreme outlier values (from near-zero-revenue companies) are excluded from the plotted cloud but never from the highlighted company or its labeled peers.
Novelis Inc's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Barriers to Entry | High (capital intensive) | Capital intensity (capex / revenue) of 14.00 % vs industry average 8.98 % (see Profitability & Cost Structure above) |
| Supplier Power | Not covered on this page | See Novelis Inc's dedicated suppliers page for concentration and dependency data |
| Buyer Power | Not covered on this page | See Novelis Inc's dedicated customers page for concentration and dependency data |
| Threat of Substitutes | - | No systematic data source for cross-product substitution exists in this system; not estimated |
Note: this is a partial, data-grounded application of the framework, not a complete strategic assessment. Rivalry and barriers-to-entry readings are mechanical translations of the HHI and capital-intensity figures shown elsewhere on this page, not independent judgments.
Novelis Inc's Industry Attractiveness & Competitive Strength
A CSIMarket composite, not a standard field: each axis is an equal-weighted average of three factors already shown elsewhere on this page (industry growth, industry profitability and rivalry for attractiveness; relative market share, profitability and growth vs industry for strength). Disclosed as a designed methodology, not a precision measurement.
Novelis Inc falls in the Low attractiveness / Medium strength cell: Harvest.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Novelis Inc's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
- Latest-quarter revenue run-rate is accelerating (+18.8% annualized vs trailing 12 months).
Weaknesses
- Return on equity 14.7 points below the industry aggregate.
Opportunities
No rule matched.
Threats
- High capital intensity requires continuous reinvestment just to keep pace with the industry.
Methodology: mechanical, rule-based SWOT. Each bullet reuses a figure already sourced and cited elsewhere on this page; nothing here is generated narrative or independent analyst judgment.
Novelis Inc's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Novelis Inc | 0.16 | 1.17 | 1.48 |
| Nucor Corporation | 0.52 | 2.76 | 0.31 |
| Arcelormittal | 0.24 | 1.36 | 0.05 |
| Steel Dynamics Inc | 0.31 | 3.12 | 0.46 |
| Ati Inc | 0.44 | 2.52 | 1.29 |
| Mueller Industries Inc | 2.68 | 5.17 | 0.00 |
Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Novelis Inc's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Novelis Inc | Q2 2026 | +22.8 % | +70.8 % |
| Nucor Corporation | Q2 2026 | +23.0 % | +81.3 % |
| Arcelormittal | Q4 2025 | -1.7 % | +135.0 % |
| Steel Dynamics Inc | Q2 2026 | +33.4 % | +76.2 % |
| Ati Inc | Q2 2026 | +10.6 % | +48.4 % |
| Mueller Industries Inc | Q2 2026 | +25.5 % | +0.5 % |
| PEERS TOTAL | +6.9 % | +112.3 % |
Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Novelis Inc's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Novelis Inc | Q2 2026 | +19.4 % | +100.8 % |
| Nucor Corporation | Q2 2026 | +15.6 % | -40.1 % |
| Arcelormittal | Q4 2025 | +1.1 % | - |
| Steel Dynamics Inc | Q2 2026 | +30.0 % | -57.0 % |
| Ati Inc | Q2 2026 | +5.9 % | -4.9 % |
| Mueller Industries Inc | Q2 2026 | +31.5 % | +52.9 % |
Novelis Inc's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Novelis Inc | 0.43% | 0.55% | 1.64% |
| Nucor Corporation | 9.14% | 9.96% | 14.49% |
| Arcelormittal | 3.32% | 4.09% | 5.74% |
| Steel Dynamics Inc | 9.66% | 10.53% | 17.76% |
| Ati Inc | 9.28% | 10.11% | 25.64% |
| Mueller Industries Inc | 21.93% | 24.78% | 25.84% |
ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Novelis Inc's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Novelis Inc | - | - |
| Nucor Corporation | 19.51 | 1.55 |
| Arcelormittal | 16.97 | 0.87 |
| Steel Dynamics Inc | 20.94 | 1.62 |
| Ati Inc | 53.14 | 5.30 |
| Mueller Industries Inc | 15.88 | 2.89 |
| PEERS AVERAGE | 18.75 | 1.17 |
P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.