The AES Corporation(AES)Earnings, Financials & Key Ratios

AES•NYSE•Utilities

$14.57

11.6× P/E·Price updated Jul 6, 2026

SectorUtilities IndustryDiversified Utilities Sub-IndustryIndependent power and renewables developers

AboutThe AES Corporation operates as a diversified power generation and utility company. It owns and/or operates power plants to generate and sell power to customers, such as utilities, industrial users, and other intermediaries. The company also 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. It uses a range of fuels and technologies to generate electricity, including coal, gas, hydro, wind, solar, and biomass; and renewables, such as energy storage and landfill gas. The company owns and/or operates a generation portfolio of approximately 31,459 megawatts. It has operations in the United States, Puerto Rico, El Salvador, Chile, Colombia, Argentina, Brazil, Mexico, Central America, the Caribbean, Europe, and Asia. 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 headquartered in Arlington, Virginia.Show more

Revenue$12.23B-0.4%
EBITDA$3.43B+4.1%
Net Income$949M-43.7%
Free Cash Flow-$1.62B+65.0%
EBITDA Margin28.01%+4.5%
Net Margin7.76%-43.5%
ROE9.67%-60.8%
Interest Coverage1.05-34.1%
Debt/Equity2.54-32.5%

AES Price & Volume

The AES Corporation (AES) stock price & volume — 10-year historical chart

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Capital Intensive Transition Pressures AES Balance Sheet

Investment Thesis • Updated 2026Q1

VerdictNeutral

Growth:Mixed

Profitability:Strained

Financial:Vulnerable

Cash Flow:Burning

Primary Risk:Project-level debt complexity

Key Thesis Takeaways

AES is currently navigating a complex pivot from thermal generation to renewable energy, evidenced by a massive $1.9 billion quarterly capital expenditure in 2026Q1.
While the company is securing long-term contracts with hyperscale data centers, the aggressive investment cycle has resulted in persistent negative free cash flow and a thin equity base of $4.4 billion.
Investors should monitor the company's ability to manage its $31.0 billion debt load, as the current interest coverage ratio of 1.69 suggests limited margin for error during this capital-intensive transformation.

Verdict Logic

while the forward P/E of 6.32 suggests potential undervaluation, the company's consistent negative free cash flow and high leverage, evidenced by a 3.31 debt-to-equity ratio, warrant a cautious approach.

AES Growth Metrics

The AES Corporation (AES) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-1.42%

5 Years4.83%

3 Years-1.03%

TTM3.04%

Profit CAGR

10 Years11.98%

5 Years85.68%

3 Years-

TTM-4.22%

EPS CAGR

10 Years11.09%

5 Years78.26%

3 Years-

TTM-4.57%

Return on Capital

10 Years7.35%

5 Years6.74%

3 Years5.68%

Last Year4.8%

AES Recent Earnings

The AES Corporation (AES) EPS & revenue vs analyst estimates — last 4 quarters

Full history →

●Beat EPS 10/12 qtrs (83%)●Beat Revenue 3/12 qtrs (25%)

Q2 2026Latest

May 5, 2026

Metric

Actual

Est

EPS

$0.67+34.0%

$0.50

Rev

$3.2B+2.4%

$3.1B

Q2 2026

Mar 2, 2026

Metric

Actual

Est

EPS

$0.81+30.6%

$0.62

Rev

$3.1B+2.3%

$3.0B

Q4 2025

Nov 5, 2025

Metric

Actual

Est

EPS

$0.75+5.3%

$0.71

Rev

$3.4B-0.5%

$3.4B

Q3 2025

Jul 31, 2025

Metric

Actual

Est

EPS

$0.51+30.8%

$0.39

Rev

$2.9B-15.2%

$3.4B

Quarter	Date	EPS (Act vs Est)	Revenue (Act vs Est)
Q2 2026Latest	May 5, 2026	$0.67vs $0.50+34.0%	$3.2Bvs $3.1B+2.4%
Q2 2026	Mar 2, 2026	$0.81vs $0.62+30.6%	$3.1Bvs $3.0B+2.3%
Q4 2025	Nov 5, 2025	$0.75vs $0.71+5.3%	$3.4Bvs $3.4B-0.5%
Q3 2025	Jul 31, 2025	$0.51vs $0.39+30.8%	$2.9Bvs $3.4B-15.2%

Based on last 12 quarters of dataView full earnings history →

Latest AES News

Recent stock market news and headlines for The AES Corporation (AES)

PRNewsWire·Jun 26, 2026

AES Stockholders Approve Acquisition by Global Infrastructure Partners and EQT-Led Consortium

ARLINGTON, Va., June 26, 2026 /PRNewswire/ -- The AES Corporation (the "Company" or "AES") (NYSE: AES) today announced that its stockholders voted to approve the Company's previously announced acquisition by Global Infrastructure Partners ("GIP"), a part of BlackRock, and the EQT Infrastructure VI fund ("EQT"), along with co-underwriters California Public Employees' Retirement System ("CalPERS") and Qatar Investment Authority ("QIA") (collectively "the Consortium"), at the Company's Meeting of Stockholders held earlier today.

Zacks Investment Research·Jun 19, 2026

AES Boosts Growth Through Renewable Energy and LNG Investments

AES expands renewable energy and LNG infrastructure as rising data center demand supports long-term power growth.

Peers Comparison

Key metrics vs top competitors for The AES Corporation (AES)

Full Screener →

Company	Price	Market Cap	P/E Ratio	Rev Growth (1Y)	Net Margin	ROE	Div Yield
AESThe AES CorporationCurrent	$14.57	$10.39B	11.56	-0.37%	7.76%	9.67%	4.83%
NRGNRG Energy, Inc.	$141.01	$29.75B	35.16	9.17%	0.74%	8.84%	—
VSTVistra Corp.	$157.22	$53.01B	71.14	-12.41%	13.82%	43.14%	—
GENGen Digital Inc.	$26.60	$16.11B	16.94	27.06%	19.46%	39.86%	—
NEENextEra Energy, Inc.	$87.44	$182.34B	26.58	11%	29.3%	12.66%	—
DDominion Energy, Inc.	$69.26	$60.88B	20.08	14.16%	13.48%	7.08%	—

Compare AES vs Peers

The AES Corporation (AES) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs NRG

Most directly comparable listed peer for AES.

Scale Benchmark

vs GE

Larger-name benchmark to compare AES against a more recognizable public peer.

Peer Set

Compare Top 5

vs NRG, VST, GEN, NEE

AES SEC Filings & Documents

The AES Corporation (AES) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

Material company update

Apr 30, 2026·SEC

Material company update

Apr 16, 2026·SEC

Material company update

Mar 19, 2026·SEC

10-K Annual Reports

FY 2026

Mar 2, 2026·SEC

FY 2025

Mar 11, 2025·SEC

FY 2024

Feb 26, 2024·SEC

10-Q Quarterly Reports

FY 2026

May 5, 2026·SEC

FY 2025

Nov 4, 2025·SEC

FY 2025

Aug 1, 2025·SEC

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AES Frequently Asked Questions

The AES Corporation (AES) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

What is The AES Corporation's revenue?

The AES Corporation (AES) reported $12.49B in revenue for fiscal year 2025. This represents a 1395% increase from $835.0M in 1996.

How fast is The AES Corporation growing?

The AES Corporation (AES) saw revenue decline by 0.4% over the past year.

Is AES profitable?

Yes, The AES Corporation (AES) is profitable, generating $1.34B in net income for fiscal year 2025 (7.8% net margin).

Dividend & Returns

Does AES pay dividends?

Yes, The AES Corporation (AES) pays a dividend with a yield of 4.83%. This makes it attractive for income-focused investors.

What is AES's return on equity?

The AES Corporation (AES) has a return on equity (ROE) of 9.7%. This is below average, suggesting room for improvement.

What is The AES Corporation's free cash flow?

The AES Corporation (AES) had negative free cash flow of $1.48B in fiscal year 2025, likely due to heavy capital investments.

Industry Metrics

Is AES's dividend sustainable?

The AES Corporation (AES) has a dividend payout ratio of 53%. This suggests the dividend is well-covered and sustainable.

What if you invested $1,000 in AES back in 1996?

Total return calculator · dividends reinvested · 30+ years of data

See returns →

Quarter

Date

EPS (Act vs Est)

Revenue (Act vs Est)

Q2 2026Latest

May 5, 2026

$0.67vs $0.50+34.0%

$3.2Bvs $3.1B+2.4%

Q2 2026

Mar 2, 2026

$0.81vs $0.62+30.6%

$3.1Bvs $3.0B+2.3%

Q4 2025

Nov 5, 2025

$0.75vs $0.71+5.3%

$3.4Bvs $3.4B-0.5%

Q3 2025

Jul 31, 2025

$0.51vs $0.39+30.8%

$2.9Bvs $3.4B-15.2%

Company

Price

Market Cap

P/E Ratio

Rev Growth (1Y)

Net Margin

ROE

Div Yield

AESThe AES CorporationCurrent

$14.57

$10.39B

11.56

-0.37%

7.76%

9.67%

4.83%

NRGNRG Energy, Inc.

$141.01

$29.75B

35.16

9.17%

0.74%

8.84%

—

VSTVistra Corp.

$157.22

$53.01B

71.14

-12.41%

13.82%

43.14%

—

GENGen Digital Inc.

$26.60

$16.11B

16.94

27.06%

19.46%

39.86%

—

NEENextEra Energy, Inc.

$87.44

$182.34B

26.58

11%

29.3%

12.66%

—

DDominion Energy, Inc.

$69.26

$60.88B

20.08

14.16%

13.48%

7.08%

—