The AES Corporation AES SPX

Utilities · Utilities - Diversified · United States

https://www.aes.com

The AES Corporation, together with its subsidiaries, operates as a power generation and utility company. It operates through four segments: Renewables, Utilities, Energy Infrastructure, and New Energy Technologies. The company owns and/or operates power plants to generate and sell power to customers, such as utilities, industrial users, and other intermediaries; owns and/or operates utilities to generate or purchase, distribute, transmit, and sell electricity to end-user customers in the residential, commercial, industrial, and governmental sectors; and generates and sells electricity on the wholesale market, as well as investments in technologies to support leading-edge greener energy solutions. It uses various fuels and technologies to generate electricity, such as solar, hydro, wind, coal, and gas, as well as renewables comprising energy storage and landfill gas. The company owns and/or operates a generation portfolio of approximately 34,740 megawatts and distributes power to 2.7 million customers. The company operates in the United States, Chile, Dominican Republic, El Salvador, Mexico, Bulgaria, Panama, Colombia, Argentina, Vietnam, Jordan, Puerto Rico, and internationally. The company was formerly known as Applied Energy Services, Inc. and changed its name to The AES Corporation in April 2000. The AES Corporation was incorporated in 1981 and is based in Arlington, Virginia.

Market & Price

Market Cap

$10.46B

Current Price

$14.67

High / Low (52W)

$17.07 / $9.60

Beta

0.96

Valuation

Stock P/E

7.64

Industry PE

19.80

Forward P/E

6.14

PEG Ratio

0.81

Book Value

$6.20

Price to Book

2.37

P/S

0.84

EV/EBITDA

12.90

Dividend Yield

4.80%

Profitability & Returns

ROCE

3.42%

ROE

5.26%

ROA

2.71%

Profit Margin

10.82%

Op Margin

18.74%

EPS (Latest Qtr)

$0.68

EPS (TTM)

$1.92

Balance Sheet & Liquidity

Debt/Equity

2.60

Quick Ratio

0.42

Current Ratio

0.73

Debt

$31.80B

Total Assets

$51.77B

Current Assets

$6.50B

Working Capital

$-1.99B

Ownership

Promoter Holding

0.58%

Chg in Prom Hold

FII / Inst Holding

91.71%

Chg in FII Hold

-0.00%

Financial Snapshot

Enterprise Value

$48.45B

Total Revenue (TTM)

$12.49B

EBITDA

$3.76B

Free Cash Flow

$-2.96B

Operating Cash Flow

$4.96B

Shares Outstanding

713.16M

Gross Margin

19.30%

Payout Ratio

36.66%

Growth (CAGR)

Revenue 5Y

-1.02%

Profit 5Y

88.89%

Revenue (YoY)

8.70%

Earnings (YoY)

951.10%

PROS

Profit CAGR of 88.9% over 5 years.
Attractive dividend yield of 4.80%.
In a confirmed uptrend (50-DMA above 200-DMA).

CONS

Revenue declined at -1.0% CAGR over 5 years.

* The pros and cons are auto-generated from financial metrics.

Price Chart

Robinhood TradingView StockAnalysis

Fundamental Growth

Period: Metric:

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Utilities).

#	Name	CMP $	P/E	Mkt Cap	Div Yld %	ROCE %	ROE %	Rev CAGR 5Y %	Profit CAGR 5Y %
1	AES The AES Corporation SPX	14.67	7.64	$10.46B	4.80%	3.42%	5.26%	-1.02%	88.89%
2	NEE NextEra Energy, Inc. SPX	87.01	22.08	$181.47B	2.86%	4.79%	10.32%	9.36%	18.12%
3	SO The Southern Company SPX	92.05	23.54	$103.77B	3.30%	5.93%	10.99%	0.31%	7.09%
4	DUK Duke Energy Corporation SPX	122.73	18.88	$95.68B	3.47%	5.35%	9.66%	3.87%	24.90%
5	AEP American Electric Power Company, Inc. NDXSPX	126.67	18.74	$68.92B	3.00%	5.68%	12.58%	3.66%	15.77%
6	D Dominion Energy, Inc. SPX	66.94	19.75	$58.87B	3.99%	5.34%	9.79%	5.80%	36.03%
7	SRE Sempra SPX	89.13	30.32	$58.26B	2.95%	3.04%	5.69%	-1.73%	-4.95%
8	VST Vistra Corp. SPXAI	160.23	26.79	$54.03B	0.57%	7.08%	42.90%	8.92%	58.98%
9	ETR Entergy Corporation SPX	109.05	27.89	$49.93B	2.35%	5.63%	10.75%	-2.02%	17.36%

Quarterly Results

Figures in USD.

Metric	Mar 2016	Jun 2016	Sep 2016	Dec 2016	Mar 2017	Jun 2017	Sep 2017	Dec 2017	Mar 2018	Jun 2018	Sep 2018	Dec 2018	Mar 2019	Jun 2019	Sep 2019	Dec 2019	Mar 2020	Jun 2020	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Revenue	2.53B	2.45B	2.64B	2.66B	2.58B	2.61B	2.69B	2.64B	2.74B	2.54B	2.84B	2.62B	2.65B	2.48B	2.62B	2.43B	2.34B	2.22B	2.54B	2.56B	2.63B	2.70B	3.04B	2.77B	2.85B	3.08B	3.63B	3.06B	3.24B	3.03B	3.43B	3.08B	2.94B	-	-	2.93B	2.85B	3.35B	3.10B	3.18B
Cost of Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2.48B	2.40B	2.62B	2.52B	2.54B
Gross Profit	501.00M	556.00M	691.00M	632.00M	557.00M	623.00M	640.00M	645.00M	656.00M	600.00M	671.00M	646.00M	586.00M	502.00M	701.00M	560.00M	507.00M	524.00M	756.00M	906.00M	664.00M	728.00M	760.00M	559.00M	530.00M	563.00M	892.00M	563.00M	594.00M	498.00M	918.00M	619.00M	553.00M	-	-	441.00M	453.00M	735.00M	582.00M	640.00M
Operating Expenses	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	77.00M	49.00M	46.00M	69.00M	55.00M
Operating Income	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	364.00M	404.00M	689.00M	513.00M	585.00M
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	657.00M	745.00M	1.04B	497.00M	1.03B
Interest Expense	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	342.00M	352.00M	348.00M	365.00M	353.00M
Pretax Income	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-22.00M	39.00M	327.00M	-269.00M	242.00M
Tax Provision	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	17.00M	167.00M	-226.00M	-139.00M	-41.00M
Net Income	126.00M	-482.00M	175.00M	-949.00M	-24.00M	53.00M	152.00M	-1.34B	684.00M	290.00M	101.00M	128.00M	154.00M	17.00M	210.00M	-78.00M	144.00M	-83.00M	-333.00M	318.00M	-148.00M	28.00M	343.00M	-632.00M	115.00M	-179.00M	421.00M	-903.00M	151.00M	-39.00M	231.00M	432.00M	276.00M	-	-	46.00M	-95.00M	639.00M	320.00M	487.00M
Diluted EPS	0.19	-0.73	0.26	-1.44	-0.04	0.08	0.23	-2.03	1.03	0.44	0.15	0.19	0.23	0.02	0.32	-0.12	0.22	-0.12	-0.50	0.47	-0.22	0.04	0.48	-0.95	0.16	-0.27	0.59	-1.35	0.21	-0.06	0.32	0.60	0.39	-	0.79	0.07	-0.15	0.89	-	0.68

Profit & Loss (Annual)

Figures in USD.

Metric	Dec 2007	Dec 2008	Dec 2009	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Revenue	-	-	13.11B	15.44B	16.10B	17.16B	15.89B	16.12B	11.26B	10.28B	10.53B	10.74B	10.19B	9.66B	-	12.62B	12.67B	12.28B	12.23B
Cost of Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	10.07B	10.16B	9.96B	10.02B
Gross Profit	3.30B	3.57B	3.36B	3.82B	4.04B	3.58B	3.25B	2.98B	2.66B	2.38B	2.46B	2.57B	2.35B	2.69B	-	2.55B	2.50B	2.31B	2.21B
Operating Expenses	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	207.00M	255.00M	288.00M	241.00M
Operating Income	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2.34B	2.25B	2.03B	1.97B
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2.02B	2.57B	3.64B	2.94B
Interest Expense	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1.12B	1.32B	1.49B	1.41B
Pretax Income	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-169.00M	104.00M	894.00M	75.00M
Tax Provision	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	265.00M	261.00M	59.00M	-181.00M
Net Income	-95.00M	1.23B	658.00M	9.00M	58.00M	-912.00M	114.00M	769.00M	306.00M	-1.13B	-1.16B	1.20B	303.00M	46.00M	-	-546.00M	249.00M	1.68B	910.00M
Diluted EPS	-0.14	1.82	0.98	0.01	0.07	-1.21	0.15	1.06	0.44	-1.72	-1.76	1.81	0.45	0.07	-	-0.82	0.35	2.36	1.26

Compounded Sales Growth

5 Years:	-1.02%
1 Year:	8.70%

Compounded Profit Growth

5 Years:	88.89%
1 Year:	951.10%

Stock Price Performance

1 Year:	+52.87%
6 Months:	+8.81%
3 Months:	-14.06%
1 Month:	+2.77%

Balance Sheet (Annual)

Figures in USD.

Metric	Dec 2006	Dec 2007	Dec 2008	Dec 2009	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Jan 2014	Dec 2014	Jan 2015	Dec 2015	Jan 2016	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Jun 2024	Sep 2024	Dec 2024	Dec 2025
Total Assets	-	-	34.81B	39.53B	40.51B	45.35B	41.83B	40.41B	-	38.56B	-	36.55B	-	36.12B	33.11B	32.52B	33.65B	34.60B	-	38.36B	44.80B	47.91B	50.27B	47.41B	51.77B
Current Assets	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	7.64B	6.65B	-	-	6.83B	6.50B
Cash & Equivalents	1.34B	2.02B	865.00M	1.75B	2.36B	1.62B	1.90B	1.64B	1.64B	1.52B	1.45B	1.22B	1.22B	1.24B	949.00M	1.17B	1.03B	1.09B	-	1.37B	1.43B	1.77B	1.92B	1.52B	1.38B
Inventory	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1.05B	712.00M	-	-	593.00M	612.00M
Receivables	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1.80B	1.42B	-	-	1.65B	1.68B
Total Liabilities	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	33.86B	38.81B	-	-	39.70B	42.66B
Current Liabilities	-	-	5.18B	6.62B	8.06B	8.44B	8.32B	7.65B	-	7.00B	-	6.93B	-	5.28B	6.03B	4.40B	5.10B	5.36B	-	6.49B	9.73B	9.82B	12.38B	8.57B	8.49B
Long Term Debt	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	21.74B	22.75B	-	-	25.43B	26.79B
Total Debt	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	23.50B	26.88B	-	-	29.02B	29.90B
Total Equity	-	-	3.67B	4.67B	6.47B	5.95B	4.57B	4.33B	-	4.27B	-	3.15B	-	2.79B	2.46B	3.21B	3.00B	2.63B	-	2.44B	2.49B	3.17B	3.38B	3.64B	4.06B
Shares Outstanding	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	818.79M	819.05M	-	-	859.71M	859.84M

Cash Flows (Annual)

Figures in USD.

Metric	Dec 2007	Dec 2008	Dec 2009	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Operating Cash Flow	2.35B	2.16B	2.21B	3.46B	2.88B	2.90B	2.71B	1.79B	2.13B	2.90B	2.50B	2.34B	2.47B	2.75B	-	2.71B	3.03B	2.75B	4.31B
Investing Cash Flow	-1.97B	-3.58B	-1.92B	-2.04B	-4.91B	-895.00M	-1.77B	-656.00M	-2.37B	-2.14B	-2.60B	-505.00M	-2.72B	-2.29B	-	-5.84B	-8.19B	-7.70B	-6.21B
Financing Cash Flow	244.00M	362.00M	610.00M	-706.00M	1.41B	-1.87B	-1.14B	-1.26B	28.00M	-747.00M	43.00M	-1.64B	-86.00M	-78.00M	-	3.76B	5.41B	4.96B	1.98B
Capital Expenditure	-2.42B	-2.85B	-2.52B	-2.31B	-2.43B	-2.11B	-1.99B	-2.02B	-2.31B	-2.35B	-2.18B	-2.12B	-2.40B	-1.90B	-	-4.55B	-7.72B	-7.39B	-5.93B
Free Cash Flow	-71.00M	-690.00M	-309.00M	1.16B	454.00M	793.00M	727.00M	-225.00M	-174.00M	552.00M	327.00M	222.00M	61.00M	855.00M	-	-1.84B	-4.69B	-4.64B	-1.62B
Net Change in Cash	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	659.00M	173.00M	112.00M	150.00M
Share Buybacks	0	143.00M	0	99.00M	279.00M	301.00M	322.00M	308.00M	482.00M	79.00M	0	0	-	-	-	-	-	-	-

Ratios (Annual)

Figures in %.

Metric	Dec 2007	Dec 2008	Dec 2009	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Gross Margin %	-	-	25.6%	24.7%	25.1%	20.9%	20.4%	18.5%	23.7%	23.2%	23.4%	24.0%	23.1%	27.9%	-	20.2%	19.8%	18.8%	18.1%
Operating Margin %	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	18.6%	17.8%	16.5%	16.1%
Net Margin %	-	-	5.0%	0.1%	0.4%	-5.3%	0.7%	4.8%	2.7%	-11.0%	-11.0%	11.2%	3.0%	0.5%	-	-4.3%	2.0%	13.7%	7.4%
ROE %	-	33.6%	14.1%	0.1%	1.0%	-20.0%	2.6%	18.0%	9.7%	-40.4%	-47.1%	37.5%	10.1%	1.7%	-	-22.4%	10.0%	46.1%	22.4%
ROCE %	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	7.3%	6.4%	5.2%	4.6%

Shareholding Pattern

Insiders

0.58%

Institutions

91.71%

Public Float

92.24%

Top Institutional Holders

#	Holder	% Held	Shares	Value
1	Blackrock Inc.	6.61%	47.17M	$691.93M
2	Vanguard Capital Management LLC	6.49%	46.28M	$678.96M
3	State Street Corporation	6.03%	42.98M	$630.54M
4	Vanguard Portfolio Management LLC	4.98%	35.51M	$520.93M
5	Ameriprise Financial, Inc.	4.64%	33.07M	$485.16M
6	Geode Capital Management, LLC	3.44%	24.51M	$359.56M
7	Morgan Stanley	3.41%	24.29M	$356.39M
8	Invesco Ltd.	2.56%	18.26M	$267.91M
9	UBS Group AG	2.10%	14.95M	$219.32M
10	SG Americas Securities, LLC	2.00%	14.28M	$209.50M

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AES · Utilities