AES · Aes Corp - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q2 '22 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.18B | - | $3.35B | $2.85B | $2.93B | - | $3.29B | $2.94B | $3.43B | - |
| Cost of Revenue | $2.54B | - | $2.62B | $2.40B | $2.48B | - | $2.57B | $2.39B | $2.52B | - |
| Gross Profit | $640.00M | - | $735.00M | $453.00M | $441.00M | - | $722.00M | $553.00M | $918.00M | - |
| R&D | - | - | - | - | - | - | - | - | - | - |
| SG&A | $55.00M | - | $46.00M | $49.00M | $77.00M | - | $57.00M | $66.00M | $64.00M | - |
| Total Operating Expenses | - | - | - | - | - | - | - | - | - | - |
| D&A | $433.00M | - | $365.00M | $354.00M | $337.00M | - | $306.00M | $308.00M | $266.00M | - |
| Operating Income | $242.00M | - | $327.00M | $39.00M | ($22.00M) | - | $329.00M | ($77.00M) | $414.00M | - |
| Interest Expense | $353.00M | - | $348.00M | $352.00M | $342.00M | - | $379.00M | $389.00M | $326.00M | - |
| Income Tax | ($41.00M) | - | ($226.00M) | $167.00M | $17.00M | - | $103.00M | ($35.00M) | $109.00M | - |
| Net Income | $487.00M | - | $639.00M | ($95.00M) | $46.00M | - | $502.00M | $185.00M | $231.00M | - |
| EPS - Basic | $0.68 | - | $0.89 | ($0.15) | $0.07 | - | $0.71 | $0.27 | $0.34 | - |
| EPS - Diluted | $0.68 | - | $0.89 | ($0.15) | $0.07 | - | $0.71 | $0.27 | $0.32 | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q2 '22 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.60B | $1.38B | $1.76B | $1.35B | $1.75B | $1.52B | $1.92B | $1.77B | $1.99B | $1.43B |
| Accounts Receivable | $1.65B | $1.68B | $1.79B | $1.86B | $1.72B | $1.65B | $1.87B | $1.51B | $1.62B | $1.42B |
| Inventory | $648.00M | $612.00M | $607.00M | $647.00M | $624.00M | $593.00M | $646.00M | $661.00M | $639.00M | $712.00M |
| Accounts Payable | $1.96B | $1.98B | $2.00B | $1.66B | $1.66B | $1.65B | $1.97B | $1.87B | $2.06B | $2.20B |
| Current Assets | $6.11B | $6.50B | $6.82B | $6.32B | $7.88B | $6.83B | $10.53B | $9.55B | $7.17B | $6.65B |
| Total Assets | $52.82B | $51.77B | $50.78B | $48.54B | $48.62B | $47.41B | $50.08B | $47.74B | $47.05B | $44.80B |
| Current Liabilities | $8.37B | $8.49B | $9.43B | $7.68B | $9.34B | $8.57B | $12.38B | $9.82B | $9.21B | $9.73B |
| Long-term Debt | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | - | - | - | - | - | - | - | - | - | - |
| Stockholders' Equity | $4.42B | $4.06B | $3.87B | $3.37B | $3.47B | $3.64B | $3.29B | $3.09B | $2.90B | $2.49B |
| Retained Earnings | $1.00B | $641.00M | $555.00M | ($79.00M) | $214.00M | $293.00M | ($267.00M) | ($769.00M) | ($954.00M) | ($1.39B) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q2 '22 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.20B | - | - | - | $545.00M | - | - | - | $287.00M | - |
| Investing Cash Flow | ($1.80B) | - | - | - | ($1.28B) | - | - | - | ($2.39B) | - |
| Financing Cash Flow | $756.00M | - | - | - | $1.32B | - | - | - | $2.61B | - |
| CapEx | $1.77B | - | - | - | $1.25B | - | - | - | $2.15B | - |
| Free Cash Flow | ($565.00M) | - | - | - | ($709.00M) | - | - | - | ($1.86B) | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q2 '22 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 20.1% | - | 21.9% | 15.9% | 15.1% | - | 22.0% | 18.8% | 26.7% | - |
| Operating margin | 7.6% | - | 9.8% | 1.4% | -0.8% | - | 10.0% | -2.6% | 12.1% | - |
| EBITDA margin | 21.2% | - | 20.7% | 13.8% | 10.8% | - | 19.3% | 7.9% | 19.8% | - |
| Net margin | 15.3% | - | 19.1% | -3.3% | 1.6% | - | 15.3% | 6.3% | 6.7% | - |
| Free cash flow margin | -17.8% | - | - | - | -24.2% | - | - | - | -54.2% | - |
| FCF / Net income | -1.16 | - | - | - | -15.41 | - | - | - | -8.06 | - |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - |
| SG&A / Revenue | 1.7% | - | 1.4% | 1.7% | 2.6% | - | 1.7% | 2.2% | 1.9% | - |
| Effective tax rate | -9.2% | - | -54.7% | 231.9% | 27.0% | - | 17.0% | -23.3% | 32.1% | - |
| Return on assets | 0.9% | - | 1.3% | -0.2% | 0.1% | - | 1.0% | 0.4% | 0.5% | - |
| Return on equity | 11.0% | - | 16.5% | -2.8% | 1.3% | - | 15.3% | 6.0% | 8.0% | - |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 0.73 | 0.77 | 0.72 | 0.82 | 0.84 | 0.80 | 0.85 | 0.97 | 0.78 | 0.68 |
| Quick ratio | 0.65 | 0.69 | 0.66 | 0.74 | 0.78 | 0.73 | 0.80 | 0.91 | 0.71 | 0.61 |
| Cash ratio | 0.19 | 0.16 | 0.19 | 0.18 | 0.19 | 0.18 | 0.16 | 0.18 | 0.22 | 0.15 |
| Leverage | ||||||||||
| Debt / Equity | - | - | - | - | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | 0.7x | - | 0.9x | 0.1x | -0.1x | - | 0.9x | -0.2x | 1.3x | - |
| Equity multiplier | 11.95 | 12.74 | 13.14 | 14.41 | 14.02 | 13.01 | 15.22 | 15.44 | 16.22 | 18.01 |
| Liabilities / Assets | - | - | - | - | - | - | - | - | - | - |
| Efficiency | ||||||||||
| Asset turnover | 0.06 | - | 0.07 | 0.06 | 0.06 | - | 0.07 | 0.06 | 0.07 | - |
| Inventory turnover | 3.92 | - | 4.31 | 3.71 | 3.98 | - | 3.97 | 3.61 | 3.94 | - |
| Days sales outstanding | 190d | - | 195d | 238d | 214d | - | 207d | 187d | 173d | - |
| Days inventory outstanding | 93d | - | 85d | 98d | 92d | - | 92d | 101d | 93d | - |
| Days payable outstanding | 282d | - | 279d | 253d | 243d | - | 279d | 286d | 299d | - |
| Cash conversion cycle | 1d | - | 1d | 84d | 63d | - | 20d | 2d | -34d | - |
| Valuation | ||||||||||
| P / E | 20.7x | - | 14.8x | - | 177.4x | - | 28.3x | 65.1x | 56.0x | - |
| P / B | 2.3x | - | 2.4x | 2.2x | 2.6x | - | 4.3x | 4.1x | 4.4x | - |
| P / S | 3.2x | - | 2.8x | 2.6x | 3.0x | - | 4.3x | 4.3x | 3.7x | - |
| EV / EBITDA | 12.6x | - | 11.0x | 15.6x | 22.5x | - | 19.5x | 46.6x | 15.8x | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 8.7% | - | 1.9% | -3.0% | - | - | - | - | 27.2% | - |
| Revenue CAGR (3y) | - | - | - | -6.0% | 0.9% | - | 2.7% | 2.9% | 11.4% | - |
| Revenue CAGR (5y) | 3.8% | - | 5.7% | 5.2% | 4.6% | - | 4.6% | 3.5% | - | - |
| Gross profit growth (YoY) | 45.1% | - | 1.8% | -18.1% | - | - | - | - | 26.1% | - |
| Operating income growth (YoY) | - | - | -0.6% | - | - | - | - | - | - | - |
| Net income growth (YoY) | 958.7% | - | 27.3% | - | - | - | - | - | 725.0% | - |
| EPS growth (YoY) | 871.4% | - | 25.4% | - | - | - | - | - | 700.0% | - |
| EPS CAGR (3y) | - | - | - | - | -24.1% | - | 13.9% | 89.0% | 152.0% | - |
| EPS CAGR (5y) | - | - | - | - | -20.5% | - | 17.3% | 68.3% | 32.0% | - |
| FCF growth (YoY) | 20.3% | - | - | - | - | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | 27.5% | 11.5% | 17.5% | 9.0% | - | 46.5% | - | - | -11.2% | 2.1% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$13.28B totalEnergy Infrastructure$5.40B · 40.7%
Utilities$4.12B · 31.0%
Renewables$2.91B · 21.9%
AESAndes$900.00M · 6.8%
Corporate Other And Other$149.00M · 1.1%
New Energy Technologies$1.00M · 0.0%
Corporate And Other($205.00M) · -1.5%
Product / service
$19.18B totalElectricity Generation$8.20B · 42.7%
Regulated Revenue$4.04B · 21.0%
Electric Distribution$4.04B · 21.0%
Nonregulatedrevenue$2.91B · 15.2%
Geographic
$19.81B totalTotal Non Us$7.18B · 36.2%
US$5.06B · 25.5%
CL$1.52B · 7.7%
DO$1.36B · 6.9%
SV$1.09B · 5.5%
MX$760.00M · 3.8%
BG$687.00M · 3.5%
PA$649.00M · 3.3%
CO$422.00M · 2.1%
PR$404.00M · 2.0%
AR$366.00M · 1.8%
VN$321.00M · 1.6%
JO$6.00M · 0.0%
Other Non Us$1.00M · 0.0%
Dividends
$0.70/share trailing 12 months · +0.9% YoY
| Ex-date | Per share |
|---|---|
| May 1, 2026 | $0.1760 |
| Jan 30, 2026 | $0.1760 |
| Oct 31, 2025 | $0.1760 |
| Aug 1, 2025 | $0.1760 |
| May 1, 2025 | $0.1760 |
| Jan 31, 2025 | $0.1760 |
| Nov 1, 2024 | $0.1730 |
| Aug 1, 2024 | $0.1730 |
| Apr 30, 2024 | $0.1730 |
| Jan 31, 2024 | $0.1730 |
| Oct 31, 2023 | $0.1660 |
| Jul 31, 2023 | $0.1660 |
| Apr 28, 2023 | $0.1660 |
| Jan 31, 2023 | $0.1660 |
| Oct 31, 2022 | $0.1580 |
| Jul 29, 2022 | $0.1580 |
| Apr 28, 2022 | $0.1580 |
| Jan 31, 2022 | $0.1580 |
| Nov 1, 2021 | $0.1510 |
| Jul 30, 2021 | $0.1510 |
| Apr 29, 2021 | $0.1510 |
| Jan 28, 2021 | $0.1510 |
| Oct 29, 2020 | $0.1430 |
| Jul 31, 2020 | $0.1430 |