What is AES Corporation's earnings per share (EPS)?

AES Corporation (AES) reported diluted earnings per share of $1.26 for fiscal year 2025. This represents a -46.6% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

AES Corporation (AES) Financials

AES

Trailing 12 months to June 30, 2026

Revenue $13.1B +8.5% YoY

Net Income $1.9B +103.0% YoY

EPS (Diluted) $2.62 +103.1% YoY

Free Cash Flow -$1.7B +32.6% YoY

Market Cap $10.7B as of Oct 7, 2026

Price / Sales 0.8x on $13.1B revenue, trailing 12 months to June 30, 2026

Price / Earnings 5.7x on $1.9B net income, trailing 12 months to June 30, 2026

Price / Book 2.2x on $4.9B equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 7, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Aug 4, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 4, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the AES SEC filings page.

AES Corporation (AES) reported $13.1B in revenue over the twelve months to Jun 30, 2026, up 8.5% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI AES FY2025 2026-10-03

AES runs a heavily financed, capital-hungry business: FY2025 profit returned, but reinvestment still consumed cash.

In FY2025, operating cash flow rose to $4.3B while capital spending fell to $5.9B. That combination reduced the cash shortfall to $1.6B from $4.6B in FY2024, but still leaves reinvestment above internally generated cash.

With revenue broadly flat, gross margin fell from 19.8% in FY2023 to 18.1% in FY2025, so the business did not improve its basic revenue-to-cost spread. Net margin nevertheless was 7.4% in FY2025 after 13.7% in FY2024, indicating earnings were shaped by below-gross-profit items or period-specific effects.

Liabilities were $47.7B against $51.8B of assets, leaving a thin equity cushion. Debt-to-equity was 11.7x and the current ratio was 0.8x, showing constrained long-term leverage and short-term coverage; together with negative FCF and positive financing cash flow, this indicates investment was not funded solely from operations.

Financial Health Signals

Financial Health Score 14/100

Scored as: Utilities peer group

Scored against utilities for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of AES Corporation's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

Not available for AES Corporation, and counted as zero in the overall score.

Growth

AES Corporation's revenue declined 0.4% year-over-year, from $12.3B to $12.2B. This contraction results in a growth score of 18/100.

Leverage

AES Corporation has elevated debt relative to equity (D/E of 11.74), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 2/100, reflecting increased financial risk.

Liquidity

AES Corporation's current ratio of 0.77 indicates adequate short-term liquidity, earning a score of 44/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow

While AES Corporation generated $4.3B in operating cash flow, capex of $5.9B consumed most of it, leaving -$1.6B in free cash flow. This results in a low score of 18/100, reflecting heavy capital investment rather than weak cash generation.

Returns

Not available for AES Corporation, and counted as zero in the overall score.

Piotroski F-Score Partial

3/8

AES Corporation passes 3 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.

Earnings Quality Cash-Backed

4.73x

For every $1 of reported earnings, AES Corporation generates $4.73 in operating cash flow ($4.3B OCF vs $910.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue

$3.4B

YoY+19.9%

QoQ+7.6%

5Y CAGR+4.9%

10Y CAGR+3.4%

AES Corporation generated $3.4B in revenue in Q2 2026. This represents an increase of 19.9% from the same quarter a year earlier. Against the prior quarter it is up 7.6%.

Net Income

$426.0M

YoY+548.4%

QoQ-12.5%

5Y CAGR+72.4%

AES Corporation reported $426.0M in net income in Q2 2026. This represents an increase of 548.4% from the same quarter a year earlier. Against the prior quarter it is down 12.5%.

EPS (Diluted)

$0.60

YoY+500.0%

QoQ-11.8%

5Y CAGR+71.9%

AES Corporation earned $0.60 per diluted share (EPS) in Q2 2026. This represents an increase of 500.0% from the same quarter a year earlier. Against the prior quarter it is down 11.8%.

EBITDA

Not reported for Q2 2026.

Cash & Balance Sheet

Free Cash Flow

-$597.0M

YoY-67.7%

QoQ-5.7%

AES Corporation recorded an outflow of $597.0M in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents a decrease of 67.7% from the same quarter a year earlier. Against the prior quarter it is down 5.7%.

Cash & Debt

$1.8B

YoY+33.3%

QoQ+12.5%

5Y CAGR+8.2%

10Y CAGR+3.1%

AES Corporation held $1.8B in cash as of Q2 2026; long-term debt is not reported for that period.

Dividends Per Share

$0.18

YoY0.0%

QoQ0.0%

AES Corporation paid $0.18 per share in dividends in Q2 2026. That is unchanged from the same quarter a year earlier. It is unchanged from the prior quarter.

Shares Outstanding

713M

YoY+0.2%

QoQ0.0%

5Y CAGR+1.4%

10Y CAGR+0.8%

AES Corporation had 713M shares outstanding in Q2 2026. This represents an increase of 0.2% from the same quarter a year earlier. It is unchanged from the prior quarter.

Margins & Returns

Gross Margin

20.2%

YoY+4.3pp

QoQ+0.1pp

5Y change-6.7pp

10Y change-2.5pp

AES Corporation's gross margin was 20.2% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is up 4.3 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.1 percentage points.

Net Margin

12.4%

YoY+15.8pp

QoQ-2.9pp

5Y change+11.4pp

10Y change+32.1pp

AES Corporation's net profit margin was 12.4% in Q2 2026, showing the share of revenue converted to profit. This is up 15.8 percentage points from the same quarter a year earlier. Against the prior quarter it is down 2.9 percentage points.

Return on Equity

8.6%

YoY+11.4pp

QoQ-2.4pp

5Y change+7.8pp

10Y change+26.1pp

AES Corporation's ROE was 8.6% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 11.4 percentage points from the same quarter a year earlier. Against the prior quarter it is down 2.4 percentage points.

Operating Margin

Not reported for Q2 2026.

Capital Allocation

Capital Expenditures

$1.6B

YoY+23.3%

QoQ-7.0%

5Y CAGR+23.7%

10Y CAGR+10.3%

AES Corporation invested $1.6B in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 23.3% from the same quarter a year earlier. Against the prior quarter it is down 7.0%.

R&D Spending

Not reported for Q2 2026.

Share Buybacks

Not reported for Q2 2026.

AES Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

AES quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$13.1B	$12.2B-0.4%	$12.3B-3.1%	$12.7B+0.4%	$12.6B+13.2%	$11.1B+15.3%	$9.7B-5.2%	$10.2B-5.1%	$10.7B+2.0%	$10.5B+2.4%	$10.3B-8.7%	$11.3B-30.2%	$16.1B+1.5%	$15.9B-7.4%	$17.2B+6.6%	$16.1B
Cost of Revenue	$10.4B	$10.0B+0.6%	$10.0B-2.0%	$10.2B+0.9%	$10.1B+19.4%	$8.4B+21.0%	$7.0B-11.1%	$7.8B-4.0%	$8.2B+1.2%	$8.1B+2.1%	$7.9B	N/A	N/A	N/A	N/A	N/A
Gross Profit	$2.6B	$2.2B-4.5%	$2.3B-7.6%	$2.5B-1.7%	$2.5B-6.0%	$2.7B+0.7%	$2.7B+14.6%	$2.3B-8.7%	$2.6B+4.4%	$2.5B+3.4%	$2.4B-10.5%	$2.7B-10.6%	$3.0B-8.2%	$3.2B-9.4%	$3.6B-11.3%	$4.0B
SG&A Expenses	$232.0M	$241.0M-16.3%	$288.0M+12.9%	$255.0M+23.2%	$207.0M+24.7%	$166.0M+0.6%	$165.0M-15.8%	$196.0M+2.1%	$192.0M-10.7%	$215.0M+10.8%	$194.0M-1.0%	$196.0M+4.8%	$187.0M-15.0%	$220.0M-19.7%	$274.0M-20.8%	$346.0M
Interest Expense	$1.4B	$1.4B-5.3%	$1.5B+12.6%	$1.3B+18.1%	$1.1B+22.6%	$911.0M-12.2%	$1.0B-1.1%	$1.1B-0.6%	$1.1B-9.7%	$1.2B+3.2%	$1.1B-1.0%	$1.1B-21.1%	$1.5B-2.1%	$1.5B-4.0%	$1.5B+0.9%	$1.5B
Income Tax	-$378.0M	-$181.0M-406.8%	$59.0M-77.4%	$261.0M-1.5%	$265.0M+299.2%	-$133.0M-161.6%	$216.0M-38.6%	$352.0M-50.3%	$708.0M-28.5%	$990.0M+2993.8%	$32.0M-92.2%	$412.0M+11.1%	$371.0M+8.2%	$343.0M-49.9%	$685.0M+4.4%	$656.0M
Net Income	$1.9B	$910.0M-45.8%	$1.7B+574.3%	$249.0M+145.6%	-$546.0M-33.5%	-$409.0M-989.1%	$46.0M-84.8%	$303.0M-74.8%	$1.2B+203.6%	-$1.2B-2.7%	-$1.1B-469.3%	$306.0M-60.2%	$769.0M+574.6%	$114.0M+112.5%	-$912.0M-1672.4%	$58.0M
EPS (Basic)	N/A	$1.26-47.1%	$2.38+543.2%	$0.37+145.1%	-$0.82-34.4%	-$0.61-971.4%	$0.07-84.8%	$0.46-74.7%	$1.82+203.4%	-$1.76-2.3%	-$1.72-482.2%	$0.45-57.9%	$1.07+613.3%	$0.15+112.4%	-$1.21-1828.6%	$0.07
EPS (Diluted)	$2.62	$1.26-46.6%	$2.36+574.3%	$0.35+142.7%	-$0.82-34.4%	-$0.61-971.4%	$0.07-84.4%	$0.45-75.1%	$1.81+202.8%	-$1.76-2.3%	-$1.72-490.9%	$0.44-58.5%	$1.06+606.7%	$0.15+112.4%	-$1.21-1828.6%	$0.07
Diluted Shares (Avg)	N/A	714M+0.1%	713M+0.1%	712M+6.6%	668M+0.3%	666M-0.3%	668M+0.1%	667M+0.3%	665M+0.8%	660M0.0%	660M-4.2%	689M-4.8%	724M-3.2%	748M-0.9%	755M-3.6%	783M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Revenue	$3.4B+19.9%	$3.2B+8.7%	$3.1B+4.7%	$3.4B+1.9%	$2.9B-3.0%	$2.9B-5.2%	$3.0B-0.2%	$3.3B-4.2%
Cost of Revenue	$2.7B+13.7%	$2.5B+2.2%	$2.5B-0.9%	$2.6B+1.9%	$2.4B+0.5%	$2.5B+0.8%	$2.5B+2.7%	$2.6B+2.0%
Gross Profit	$692.0M+52.8%	$640.0M+45.1%	$582.0M+38.6%	$735.0M+1.8%	$453.0M-18.1%	$441.0M-28.8%	$420.0M-15.0%	$722.0M-21.4%
SG&A Expenses	$62.0M+26.5%	$55.0M-28.6%	$69.0M-23.3%	$46.0M-19.3%	$49.0M-25.8%	$77.0M+2.7%	$90.0M+40.6%	$57.0M-10.9%
Interest Expense	$368.0M+4.5%	$353.0M+3.2%	$365.0M+1.4%	$348.0M-8.2%	$352.0M-9.5%	$342.0M-4.2%	$360.0M+2.0%	$379.0M+16.3%
Income Tax	$28.0M-83.2%	-$41.0M-341.2%	-$139.0M-2085.7%	-$226.0M-319.4%	$167.0M+577.1%	$17.0M+206.3%	$7.0M-91.5%	$103.0M-5.5%
Net Income	$426.0M+548.4%	$487.0M+958.7%	$320.0M-31.5%	$639.0M+26.8%	-$95.0M-134.4%	$46.0M-89.4%	$467.0M+596.8%	$504.0M+118.2%
EPS (Basic)	$0.60+500.0%	$0.68+871.4%	$0.45-31.8%	$0.89+25.4%	-$0.15-137.5%	$0.07-88.7%	$0.66+571.4%	$0.71+108.8%
EPS (Diluted)	$0.60+500.0%	$0.68+871.4%	$0.45-31.8%	$0.89+25.4%	-$0.15-138.5%	$0.07-88.3%	$0.66+607.7%	$0.71+121.9%
Diluted Shares (Avg)	715M+0.4%	715M+0.3%	N/A	714M+0.1%	712M-0.1%	713M+0.1%	N/A	713M+0.1%

Not reported in any period shown, so not listed: R&D Expenses, Operating Income, EBITDA.

AES Balance Sheet

AES quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$51.8B+9.2%	$47.4B+5.8%	$44.8B+16.8%	$38.4B+16.4%	$33.0B-4.7%	$34.6B+2.8%	$33.6B+3.5%	$32.5B-1.8%	$33.1B-8.3%	$36.1B-1.2%	$36.5B-5.2%	$38.6B-4.6%	$40.4B-3.4%	$41.8B-7.8%	$45.3B
Current Assets	$6.5B-4.8%	$6.8B+2.7%	$6.6B-13.0%	$7.6B+42.7%	$5.4B-1.1%	$5.4B+3.5%	$5.2B+4.3%	$5.0B-21.6%	$6.4B-0.3%	$6.4B-6.2%	$6.8B-12.6%	$7.8B+1.1%	$7.7B-8.6%	$8.5B-8.3%	$9.2B
Cash & Equivalents	$1.4B-9.3%	$1.5B+6.9%	$1.4B+3.8%	$1.4B+45.7%	$943.0M-13.4%	$1.1B+5.8%	$1.0B-11.7%	$1.2B+22.9%	$949.0M-23.7%	$1.2B+2.1%	$1.2B-19.7%	$1.5B-7.6%	$1.6B-13.6%	$1.9B+17.0%	$1.6B
Short-Term Investments	$174.0M+120.3%	$79.0M-80.0%	$395.0M-45.9%	$730.0M+214.7%	$232.0M-30.7%	$335.0M-16.3%	$400.0M+27.8%	$313.0M-26.2%	$424.0M-20.0%	$530.0M+13.0%	$469.0M-33.9%	$709.0M+6.1%	$668.0M-3.6%	$693.0M-48.9%	$1.4B
Inventory	$612.0M+3.2%	$593.0M-16.7%	$712.0M-32.5%	$1.1B+74.7%	$604.0M+31.0%	$461.0M-5.3%	$487.0M-15.6%	$577.0M+2.7%	$562.0M-9.6%	$622.0M-7.3%	$671.0M-4.4%	$702.0M+2.6%	$684.0M-4.9%	$719.0M-7.2%	$775.0M
Accounts Receivable	$1.7B+2.2%	$1.6B+15.9%	$1.4B-21.1%	$1.8B+26.9%	$1.4B+9.1%	$1.3B-12.1%	$1.5B-7.3%	$1.6B+9.0%	$1.5B+3.0%	$1.4B-38.3%	$2.3B-15.0%	$2.7B+14.6%	$2.4B-6.9%	$2.5B+0.7%	$2.5B
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$342.0M-0.9%	$345.0M-0.9%	$348.0M-3.9%	$362.0M-69.2%	$1.2B+10.9%	$1.1B+0.2%	$1.1B0.0%	$1.1B0.0%	$1.1B-8.5%	$1.2B0.0%	$1.2B-20.6%	$1.5B-10.1%	$1.6B-18.9%	$2.0B-47.7%	$3.8B
Total Liabilities	$47.7B+9.0%	$43.8B+3.4%	$42.3B+17.8%	$35.9B+19.1%	$30.2B-5.6%	$32.0B+4.3%	$30.7B+4.6%	$29.3B-4.4%	$30.6B-8.0%	$33.3B-0.2%	$33.4B-2.6%	$34.3B-5.0%	$36.1B-3.2%	$37.3B-5.4%	$39.4B
Current Liabilities	$8.5B-0.9%	$8.6B-11.9%	$9.7B+49.9%	$6.5B+37.2%	$4.7B-11.7%	$5.4B+5.2%	$5.1B+15.8%	$4.4B-27.0%	$6.0B+14.2%	$5.3B-23.8%	$6.9B-1.0%	$7.0B-8.6%	$7.7B-8.0%	$8.3B-1.4%	$8.4B
Non-Current Liabilities	$31.3B+3.8%	$30.2B+9.3%	$27.6B+6.0%	$26.0B+16.2%	$22.4B-5.3%	$23.6B+5.4%	$22.4B+3.7%	$21.6B+1.1%	$21.4B-12.2%	$24.4B+6.7%	$22.8B-7.0%	$24.6B-1.8%	$25.0B-3.4%	$25.9B-4.4%	$27.1B
Total Equity	$4.1B+11.5%	$3.6B+46.5%	$2.5B+2.1%	$2.4B-12.9%	$2.8B+6.2%	$2.6B-12.1%	$3.0B-6.6%	$3.2B+30.1%	$2.5B-11.8%	$2.8B-11.3%	$3.1B-26.3%	$4.3B-1.3%	$4.3B-5.2%	$4.6B-23.2%	$5.9B
Retained Earnings	$641.0M+118.8%	$293.0M+121.1%	-$1.4B+15.2%	-$1.6B-50.1%	-$1.1B-60.1%	-$680.0M+1.7%	-$692.0M+31.1%	-$1.0B+55.8%	-$2.3B-98.6%	-$1.1B-901.4%	$143.0M-72.1%	$512.0M+441.3%	-$150.0M+43.2%	-$264.0M-138.9%	$678.0M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$54.2B+11.7%	$52.8B+8.6%	$51.8B+9.2%	$50.8B+1.0%	$48.5B+1.3%	$48.6B+3.3%	$47.4B+5.8%	$50.3B+16.5%
Current Assets	$6.4B+1.3%	$6.1B-22.4%	$6.5B-4.8%	$6.8B-36.3%	$6.3B-35.1%	$7.9B+9.9%	$6.8B+2.7%	$10.7B+46.4%
Cash & Equivalents	$1.8B+33.3%	$1.6B-8.7%	$1.4B-9.3%	$1.8B-8.4%	$1.4B-23.9%	$1.8B-12.1%	$1.5B+6.9%	$1.9B+8.7%
Short-Term Investments	$53.0M	$51.0M-20.3%	$174.0M+120.3%	$0-100.0%	$0-100.0%	$64.0M-83.8%	$79.0M-80.0%	$62.0M-88.5%
Inventory	$618.0M-4.5%	$648.0M+3.8%	$612.0M+3.2%	$607.0M-6.0%	$647.0M-2.1%	$624.0M-2.3%	$593.0M-16.7%	$646.0M-19.0%
Accounts Receivable	$1.9B+17481.8%	$1.7B-4.0%	$1.7B+2.2%	$1.8B-4.2%	$11.0M-99.3%	$1.7B+5.8%	$1.6B+15.9%	$1.9B+8.3%
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	$342.0M-0.9%	$342.0M-0.9%	$342.0M-0.9%	$345.0M-0.9%	$345.0M-0.9%	$345.0M-0.9%	$345.0M-0.9%	$348.0M-3.9%
Total Liabilities	$49.3B+9.1%	$48.4B+7.2%	$47.7B+9.0%	$46.9B+0.1%	$45.2B+1.0%	$45.1B+2.3%	$43.8B+3.4%	$46.9B+16.1%
Current Liabilities	$8.6B+11.7%	$8.4B-10.4%	$8.5B-0.9%	$9.4B-23.8%	$7.7B-21.8%	$9.3B+1.4%	$8.6B-11.9%	$12.4B+40.3%
Non-Current Liabilities	$32.8B+5.9%	$32.2B+5.0%	$31.3B+3.8%	$30.8B+5.7%	$31.0B+3.4%	$30.6B+2.0%	$30.2B+9.3%	$29.2B+5.4%
Total Equity	$4.9B+46.7%	$4.4B+27.5%	$4.1B+11.5%	$3.9B+14.4%	$3.4B+6.1%	$3.5B+19.6%	$3.6B+46.5%	$3.4B+21.6%
Retained Earnings	$1.4B+1908.9%	$1.0B+368.7%	$641.0M+118.8%	$555.0M+419.0%	-$79.0M+88.3%	$214.0M+122.4%	$293.0M+121.1%	-$174.0M+86.5%

Not reported in any period shown, so not listed: Long-Term Debt.

AES Cash Flow Statement

AES quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	$5.0B	$4.3B+56.5%	$2.8B-9.3%	$3.0B+11.7%	$2.7B+42.7%	$1.9B-31.0%	$2.8B+11.7%	$2.5B+5.2%	$2.3B-6.4%	$2.5B-13.6%	$2.9B+35.8%	$2.1B+19.2%	$1.8B-34.0%	$2.7B-6.4%	$2.9B+0.6%	$2.9B
Depreciation & Amortization	N/A	$1.5B+15.3%	$1.3B+10.2%	$1.1B+8.9%	$1.1B-0.3%	$1.1B-1.1%	$1.1B+2.2%	$1.0B+4.2%	$1.0B-14.2%	$1.2B-0.6%	$1.2B+2.8%	$1.1B-8.1%	$1.2B-3.8%	$1.3B-7.2%	$1.4B+18.5%	$1.2B
Stock-Based Compensation	N/A	$14.0M+16.7%	$12.0M+500.0%	$2.0M-91.3%	$23.0M+64.3%	$14.0M-33.3%	$21.0M-4.5%	$22.0M+10.0%	$20.0M+150.0%	$8.0M-20.0%	$10.0M+25.0%	$8.0M	N/A	N/A	N/A	N/A
Capital Expenditures	$6.8B	$5.9B-19.8%	$7.4B-4.3%	$7.7B+69.7%	$4.6B+115.1%	$2.1B+11.4%	$1.9B-21.0%	$2.4B+13.4%	$2.1B-2.6%	$2.2B-7.2%	$2.3B+1.6%	$2.3B+14.5%	$2.0B+1.4%	$2.0B-5.7%	$2.1B-13.3%	$2.4B
Free Cash Flow	-$1.7B	-$1.6B+65.0%	-$4.6B+1.1%	-$4.7B-155.4%	-$1.8B-757.9%	-$214.0M-125.0%	$855.0M+1301.6%	$61.0M-72.5%	$222.0M-32.1%	$327.0M-40.8%	$552.0M+417.2%	-$174.0M+22.7%	-$225.0M-130.9%	$727.0M-8.3%	$793.0M+74.7%	$454.0M
Investing Cash Flow	-$6.6B	-$6.2B+19.4%	-$7.7B+6.0%	-$8.2B-40.3%	-$5.8B-91.3%	-$3.1B-32.9%	-$2.3B+15.7%	-$2.7B-438.8%	-$505.0M+80.6%	-$2.6B-21.7%	-$2.1B+9.7%	-$2.4B-260.7%	-$656.0M+63.0%	-$1.8B-98.2%	-$895.0M+81.8%	-$4.9B
Financing Cash Flow	$1.8B	$2.0B-60.2%	$5.0B-8.2%	$5.4B+43.8%	$3.8B+371.5%	$797.0M+1121.8%	-$78.0M+9.3%	-$86.0M+94.8%	-$1.6B-3920.9%	$43.0M+105.8%	-$747.0M-2767.9%	$28.0M+102.2%	-$1.3B-11.1%	-$1.1B+39.2%	-$1.9B-232.2%	$1.4B
Dividends Paid	$502.0M	$501.0M+3.7%	$483.0M+8.8%	$444.0M+5.2%	$422.0M+5.2%	$401.0M+5.2%	$381.0M+5.2%	$362.0M+5.2%	$344.0M+8.5%	$317.0M+9.3%	$290.0M+5.1%	$276.0M+91.7%	$144.0M+21.0%	$119.0M+296.7%	$30.0M	$0
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$0	$0-100.0%	$79.0M-83.6%	$482.0M+56.5%	$308.0M-4.3%	$322.0M+7.0%	$301.0M+7.9%	$279.0M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	$1.0B+7.2%	$1.2B+120.4%	$1.5B+36.8%	$1.3B+31.7%	$976.0M+149.0%	$545.0M+89.9%	$1.1B+50.1%	$985.0M-12.2%
Depreciation & Amortization	$434.0M+22.6%	$433.0M+28.5%	$401.0M+25.7%	$365.0M+17.0%	$354.0M+12.4%	$337.0M+6.0%	$319.0M+2.6%	$312.0M+9.1%
Capital Expenditures	$1.6B+23.3%	$1.8B+40.8%	$1.5B-11.1%	$1.8B-1.3%	$1.3B-20.9%	$1.3B-41.6%	$1.7B-28.9%	$1.8B-3.5%
Free Cash Flow	-$597.0M-67.7%	-$565.0M+20.3%	-$47.0M+92.6%	-$511.0M+39.7%	-$356.0M+72.5%	-$709.0M+61.9%	-$639.0M+62.5%	-$847.0M-9.0%
Investing Cash Flow	-$1.5B+8.5%	-$1.8B-40.3%	-$1.6B+1.2%	-$1.7B+6.9%	-$1.6B+12.9%	-$1.3B+46.3%	-$1.6B+35.9%	-$1.9B+3.0%
Financing Cash Flow	$485.0M+234.5%	$756.0M-42.6%	-$278.0M-24.1%	$791.0M-44.6%	$145.0M-87.4%	$1.3B-49.5%	-$224.0M-113.5%	$1.4B+17.9%
Dividends Paid	$126.0M+0.8%	$125.0M0.0%	$125.0M+2.5%	$126.0M+2.4%	$125.0M+2.5%	$125.0M+7.8%	$122.0M+9.9%	$123.0M+10.8%

Not reported in any period shown, so not listed: Stock-Based Compensation, Share Buybacks.

AES Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

AES quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Gross Margin	18.1%-0.8pp	18.9%-0.9pp	19.8%-0.4pp	20.2%-4.1pp	24.3%-3.6pp	27.9%+4.8pp	23.1%-0.9pp	24.0%+0.6pp	23.4%+0.2pp	23.2%-0.5pp	23.6%+5.2pp	18.5%-2.0pp	20.4%-0.5pp	20.9%-4.2pp	25.1%
Net Margin	7.4%-6.2pp	13.7%+11.7pp	2.0%+6.3pp	-4.3%-0.7pp	-3.7%-4.2pp	0.5%-2.5pp	3.0%-8.2pp	11.2%+22.2pp	-11.0%0.0pp	-11.0%-13.7pp	2.7%-2.1pp	4.8%+4.0pp	0.7%+6.0pp	-5.3%-5.7pp	0.4%
Return on Equity	22.4%-23.7pp	46.1%+36.1pp	10.0%+32.4pp	-22.4%-7.8pp	-14.6%-16.4pp	1.8%-8.4pp	10.1%-27.4pp	37.5%+84.6pp	-47.1%-6.7pp	-40.4%-50.2pp	9.7%-8.3pp	18.0%+15.4pp	2.6%+22.6pp	-20.0%-20.9pp	1.0%
Return on Assets	1.8%-1.8pp	3.5%+3.0pp	0.6%+2.0pp	-1.4%-0.2pp	-1.2%-1.4pp	0.1%-0.8pp	0.9%-2.8pp	3.7%+7.2pp	-3.5%-0.4pp	-3.1%-4.0pp	0.8%-1.2pp	2.0%+1.7pp	0.3%+2.5pp	-2.2%-2.3pp	0.1%
Current Ratio	0.770.0x	0.80+0.1x	0.68-0.5x	1.180.0x	1.13+0.1x	1.010.0x	1.03-0.1x	1.14+0.1x	1.06-0.2x	1.22+0.2x	0.99-0.1x	1.12+0.1x	1.010.0x	1.02-0.1x	1.09
Debt-to-Equity	11.74-0.3x	12.01-5.0x	17.01+2.3x	14.74+4.0x	10.78-1.4x	12.14+1.9x	10.23+1.1x	9.14-3.3x	12.43+0.5x	11.93+1.3x	10.61+2.6x	8.03-0.3x	8.33+0.2x	8.16+1.5x	6.63
Asset Turnover	0.240.0x	0.260.0x	0.280.0x	0.330.0x	0.34+0.1x	0.280.0x	0.300.0x	0.330.0x	0.320.0x	0.280.0x	0.31-0.1x	0.420.0x	0.390.0x	0.41+0.1x	0.35
FCF Margin	-13.3%+24.5pp	-37.8%-0.8pp	-37.0%-22.5pp	-14.5%-12.6pp	-1.9%-10.8pp	8.8%+8.2pp	0.6%-1.5pp	2.1%-1.0pp	3.1%-2.3pp	5.4%+6.9pp	-1.6%-0.1pp	-1.4%-6.0pp	4.6%-0.1pp	4.6%+1.8pp	2.8%

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Gross Margin	20.2%+4.3pp	20.1%+5.1pp	18.8%+4.6pp	21.9%0.0pp	15.9%-2.9pp	15.1%-5.0pp	14.2%-2.5pp	21.9%-4.8pp
Net Margin	12.4%+15.8pp	15.3%+13.7pp	10.3%-5.5pp	19.1%+3.8pp	-3.3%-12.7pp	1.6%-12.4pp	15.8%+18.9pp	15.3%+8.6pp
Return on Equity	8.6%+11.4pp	11.0%+9.7pp	7.9%-4.9pp	16.5%+1.6pp	-2.8%-11.5pp	1.3%-13.6pp	12.8%+16.6pp	14.9%+6.6pp
Return on Assets	0.8%+1.0pp	0.9%+0.8pp	0.6%-0.4pp	1.3%+0.3pp	-0.2%-0.8pp	0.1%-0.8pp	1.0%+1.2pp	1.0%+0.5pp
Current Ratio	0.75-0.1x	0.73-0.1x	0.770.0x	0.72-0.1x	0.82-0.2x	0.84+0.1x	0.80+0.1x	0.870.0x
Debt-to-Equity	9.97-3.4x	10.95-2.1x	11.74-0.3x	12.14-1.7x	13.41-0.7x	13.02-2.2x	12.01-5.0x	13.88-0.7x
Asset Turnover	0.060.0x	0.060.0x	0.060.0x	0.070.0x	0.060.0x	0.060.0x	0.060.0x	0.070.0x
FCF Margin	-17.4%-5.0pp	-17.8%+6.5pp	-1.5%+20.1pp	-15.3%+10.5pp	-12.5%+31.5pp	-24.2%+36.1pp	-21.6%+35.8pp	-25.8%-3.1pp

Not reported in any period shown, so not listed: Operating Margin.

Note: The current ratio is below 1.0 (0.77), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
AES Corporation AES	FY2025	$12.2B	$910.0M	7.4%	$10.7B	14/100
Algonquin Power & Utilities Corp AQN	FY2025	$2.4B	$180.8M	7.4%	$3.9B	37/100
ALLETE, Inc. ALE	FY2024	$1.5B	$179.3M	11.7%	$3.9B	51/100
Avista Corporation AVA	FY2025	$2.0B	$193.0M	9.8%	$2.9B	57/100
Brookfield Infrastructure Partners L.P. Limited Partnership Units BIP	FY2025	$23.1B	$2.5B	11.0%	$17.2B	52/100

Where AES Corporation Ranks

Frequently Asked Questions

What is AES Corporation's annual revenue?

AES Corporation (AES) reported $12.2B in total revenue for fiscal year 2025. This represents a -0.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is AES Corporation's revenue growing?

AES Corporation (AES) revenue declined by 0.4% year-over-year, from $12.3B to $12.2B in fiscal year 2025.

Is AES Corporation profitable?

Yes, AES Corporation (AES) reported a net income of $910.0M in fiscal year 2025, with a net profit margin of 7.4%.

What is AES Corporation's gross margin?

AES Corporation (AES) had a gross margin of 18.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is AES Corporation's net profit margin?

AES Corporation (AES) had a net profit margin of 7.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does AES Corporation pay dividends?

Yes, AES Corporation (AES) paid $0.70 per share in dividends during fiscal year 2025.

What is AES Corporation's return on equity (ROE)?

AES Corporation (AES) has a return on equity of 22.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is AES Corporation's free cash flow?

AES Corporation (AES) recorded an outflow of $1.6B in free cash flow during fiscal year 2025. This represents a 65.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is AES Corporation's operating cash flow?

AES Corporation (AES) generated $4.3B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are AES Corporation's total assets?

AES Corporation (AES) had $51.8B in total assets as of fiscal year 2025, including both current and long-term assets.

What are AES Corporation's capital expenditures?

AES Corporation (AES) invested $5.9B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How many shares does AES Corporation have outstanding?

AES Corporation (AES) had 713M shares outstanding as of fiscal year 2025.

What is AES Corporation's current ratio?

AES Corporation (AES) had a current ratio of 0.77 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

What is AES Corporation's debt-to-equity ratio?

AES Corporation (AES) had a debt-to-equity ratio of 11.74 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is AES Corporation's return on assets (ROA)?

AES Corporation (AES) had a return on assets of 1.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is AES Corporation's P/E ratio?

AES Corporation (AES) trades at 5.7x earnings, its market capitalization divided by net income of $1.9B net income, trailing 12 months to June 30, 2026. The market capitalization is $10.7B as of Oct 7, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is AES Corporation's price-to-sales ratio?

AES Corporation (AES) trades at 0.8x sales, its market capitalization divided by revenue of $13.1B revenue, trailing 12 months to June 30, 2026. The market capitalization is $10.7B as of Oct 7, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is AES Corporation's Piotroski F-Score?

AES Corporation (AES) has a Piotroski F-Score of 3 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are AES Corporation's earnings high quality?

AES Corporation (AES) has an earnings quality ratio of 4.73x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is AES Corporation?

AES Corporation (AES) scores 14 out of 100 on our Financial Health Score, indicating weak standing within its utilities peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.