What is Aes Corp's earnings per share (EPS)?

Aes Corp (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 Corp Financials

AES

FY2025 annual

Revenue $12.2B -0.4% YoY

Net Income $910.0M -45.8% YoY

EPS (Diluted) $1.26 -46.6% YoY

Free Cash Flow -$1.6B +65.0% YoY

Source SEC Filings (10-K/10-Q) Data as of Jun 30, 2026 Currency USD FYE December

Aes Corp (AES) reported $12.2B in revenue for fiscal year 2025, down 0.4% from the prior fiscal year. 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 2026-05-05

Heavy reinvestment and thin equity make AES a business where cash funding and leverage matter more than reported accounting profit.

In FY2025, operating cash flow of $4.3B still trailed capital spending of $5.9B, so the company remained free-cash-flow negative even after a sharp cash rebound. With the current ratio below 1.0x in every year since FY2023 and financing cash flow positive in each of those years, growth is being bridged by external funding rather than surplus cash already on hand.

The 2025 earnings picture looks stronger than the asset economics alone: return on equity was 22.4% while return on assets was only 1.8%. That spread exists because only $4.1B of equity supports $51.8B of assets, so leverage magnifies both improvements and setbacks.

Revenue has hovered near $12B since FY2022, which means the business has not been growing its way out of its funding needs. Meanwhile, gross margin fell from 20.2% to 18.1% by FY2025, so the stronger 2025 cash generation did not come from a richer core margin structure; it arrived despite weaker gross profitability.

Financial Health Signals

Financial Health Score 13/100

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 Corp'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 Corp, and counted as zero in the overall score.

Growth

Leverage

Liquidity

Cash Flow

Returns

Not available for Aes Corp, and counted as zero in the overall score.

Piotroski F-Score Partial

3/8

Aes Corp 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 Corp 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

$12.2B

YoY-0.4%

5Y CAGR+4.8%

10Y CAGR+0.8%

Aes Corp generated $12.2B in revenue in fiscal year 2025. This represents a decrease of 0.4% from the prior year.

Net Income

$910.0M

YoY-45.8%

5Y CAGR+81.7%

10Y CAGR+11.5%

Aes Corp reported $910.0M in net income in fiscal year 2025. This represents a decrease of 45.8% from the prior year.

EPS (Diluted)

$1.26

YoY-46.6%

5Y CAGR+78.3%

10Y CAGR+11.1%

Aes Corp earned $1.26 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 46.6% from the prior year.

EBITDA

Not reported for fiscal year 2025.

Cash & Balance Sheet

Free Cash Flow

-$1.6B

YoY+65.0%

Aes Corp recorded an outflow of $1.6B in free cash flow in fiscal year 2025, representing a cash shortfall after capex. This represents an increase of 65.0% from the prior year.

Cash & Debt

$1.4B

YoY-9.3%

5Y CAGR+4.9%

10Y CAGR+1.3%

Aes Corp held $1.4B in cash as of fiscal year 2025; long-term debt is not reported for that period.

Dividends Per Share

$0.70

YoY+1.5%

5Y CAGR+3.9%

10Y CAGR+5.6%

Aes Corp paid $0.70 per share in dividends in fiscal year 2025. This represents an increase of 1.5% from the prior year.

Shares Outstanding

712M

YoY+0.2%

5Y CAGR+1.4%

10Y CAGR+0.7%

Aes Corp had 712M shares outstanding in fiscal year 2025. This represents an increase of 0.2% from the prior year.

Margins & Returns

Gross Margin

18.1%

YoY-0.8pp

5Y CAGR-9.8pp

10Y CAGR-5.6pp

Aes Corp's gross margin was 18.1% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 0.8 percentage points from the prior year.

Net Margin

7.4%

YoY-6.2pp

5Y CAGR+7.0pp

10Y CAGR+4.7pp

Aes Corp's net profit margin was 7.4% in fiscal year 2025, showing the share of revenue converted to profit. This is down 6.2 percentage points from the prior year.

Return on Equity

22.4%

YoY-23.7pp

5Y CAGR+20.7pp

10Y CAGR+12.7pp

Aes Corp's ROE was 22.4% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 23.7 percentage points from the prior year.

Operating Margin

Not reported for fiscal year 2025.

Capital Allocation

Capital Expenditures

$5.9B

YoY-19.8%

5Y CAGR+25.6%

10Y CAGR+9.9%

Aes Corp invested $5.9B in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 19.8% from the prior year.

R&D Spending

Not reported for fiscal year 2025.

Share Buybacks

Not reported for fiscal year 2025.

AES Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

AES annual income statement

Metric	TTM	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
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 (Diluted)	—	$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

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Revenue	$3.4B+7.6%	$3.2B+2.5%	$3.1B-7.5%	$3.4B+17.4%	$2.9B-2.4%	$2.9B-1.2%	$3.0B-9.9%	$3.3B
Cost of Revenue	$2.7B+7.5%	$2.5B+0.8%	$2.5B-3.7%	$2.6B+8.9%	$2.4B-3.3%	$2.5B-2.2%	$2.5B-1.0%	$2.6B
Gross Profit	$692.0M+8.1%	$640.0M+10.0%	$582.0M-20.8%	$735.0M+62.3%	$453.0M+2.7%	$441.0M+5.0%	$420.0M-41.8%	$722.0M
SG&A Expenses	$62.0M+12.7%	$55.0M-20.3%	$69.0M+50.0%	$46.0M-6.1%	$49.0M-36.4%	$77.0M-14.4%	$90.0M+57.9%	$57.0M
Interest Expense	$368.0M+4.2%	$353.0M-3.3%	$365.0M+4.9%	$348.0M-1.1%	$352.0M+2.9%	$342.0M-5.0%	$360.0M-5.0%	$379.0M
Income Tax	$28.0M+168.3%	-$41.0M+70.5%	-$139.0M+38.5%	-$226.0M-235.3%	$167.0M+882.4%	$17.0M+142.9%	$7.0M-93.2%	$103.0M
Net Income	$426.0M-12.5%	$487.0M+52.2%	$320.0M-49.9%	$639.0M+772.6%	-$95.0M-306.5%	$46.0M-90.1%	$467.0M-7.3%	$504.0M
EPS (Diluted)	$0.60-11.8%	$0.68	N/A	$0.89+693.3%	-$0.15-314.3%	$0.07	N/A	$0.71

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

TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.

AES Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

AES annual balance sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
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
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
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
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	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Total Assets	$54.2B+2.7%	$52.8B+2.0%	$51.8B+1.9%	$50.8B+4.6%	$48.5B-0.2%	$48.6B+2.6%	$47.4B-5.7%	$50.3B
Current Assets	$6.4B+4.8%	$6.1B-6.0%	$6.5B-4.7%	$6.8B+7.9%	$6.3B-19.8%	$7.9B+15.3%	$6.8B-36.2%	$10.7B
Cash & Equivalents	$1.8B+12.5%	$1.6B+15.8%	$1.4B-21.4%	$1.8B+30.2%	$1.4B-23.0%	$1.8B+15.0%	$1.5B-20.6%	$1.9B
Inventory	$618.0M-4.6%	$648.0M+5.9%	$612.0M+0.8%	$607.0M-6.2%	$647.0M+3.7%	$624.0M+5.2%	$593.0M-8.2%	$646.0M
Accounts Receivable	$1.9B+17.1%	$1.7B-1.9%	$1.7B-6.0%	$1.8B+16172.7%	$11.0M-99.4%	$1.7B+4.4%	$1.6B-11.9%	$1.9B
Goodwill	$342.0M0.0%	$342.0M0.0%	$342.0M-0.9%	$345.0M0.0%	$345.0M0.0%	$345.0M0.0%	$345.0M-0.9%	$348.0M
Total Liabilities	$49.3B+1.9%	$48.4B+1.5%	$47.7B+1.7%	$46.9B+3.9%	$45.2B+0.1%	$45.1B+3.2%	$43.8B-6.7%	$46.9B
Current Liabilities	$8.6B+2.4%	$8.4B-1.4%	$8.5B-10.0%	$9.4B+22.9%	$7.7B-17.8%	$9.3B+9.0%	$8.6B-30.7%	$12.4B
Total Equity	$4.9B+11.8%	$4.4B+8.8%	$4.1B+5.1%	$3.9B+14.7%	$3.4B-2.9%	$3.5B-4.8%	$3.6B+7.9%	$3.4B
Retained Earnings	$1.4B+42.5%	$1.0B+56.5%	$641.0M+15.5%	$555.0M+802.5%	-$79.0M-136.9%	$214.0M-27.0%	$293.0M+268.4%	-$174.0M

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

AES Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

AES annual cash flow statement

Metric	TTM	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
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
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	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Operating Cash Flow	$1.0B-12.9%	$1.2B-19.3%	$1.5B+14.7%	$1.3B+32.9%	$976.0M+79.1%	$545.0M-49.9%	$1.1B+10.5%	$985.0M
Capital Expenditures	$1.6B-7.0%	$1.8B+15.0%	$1.5B-15.1%	$1.8B+35.7%	$1.3B+6.2%	$1.3B-27.4%	$1.7B-5.7%	$1.8B
Free Cash Flow	-$597.0M-5.7%	-$565.0M-1102.1%	-$47.0M+90.8%	-$511.0M-43.5%	-$356.0M+49.8%	-$709.0M-11.0%	-$639.0M+24.6%	-$847.0M
Investing Cash Flow	-$1.5B+18.6%	-$1.8B-13.0%	-$1.6B+8.3%	-$1.7B-8.5%	-$1.6B-24.8%	-$1.3B+20.4%	-$1.6B+13.6%	-$1.9B
Financing Cash Flow	$485.0M-35.8%	$756.0M+371.9%	-$278.0M-135.1%	$791.0M+445.5%	$145.0M-89.0%	$1.3B+687.9%	-$224.0M-115.7%	$1.4B
Dividends Paid	$126.0M+0.8%	$125.0M0.0%	$125.0M-0.8%	$126.0M+0.8%	$125.0M0.0%	$125.0M+2.5%	$122.0M-0.8%	$123.0M

AES Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples.

AES annual financial ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17	FY16	FY15	FY14	FY13	FY12	FY11
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
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	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Gross Margin	20.2%+0.1pp	20.1%+1.4pp	18.8%-3.2pp	21.9%+6.1pp	15.9%+0.8pp	15.1%+0.9pp	14.2%-7.8pp	21.9%
Net Margin	12.4%-2.9pp	15.3%+5.0pp	10.3%-8.8pp	19.1%+22.4pp	-3.3%-4.9pp	1.6%-14.2pp	15.8%+0.5pp	15.3%
Return on Equity	8.6%-2.4pp	11.0%+3.1pp	7.9%-8.7pp	16.5%+19.4pp	-2.8%-4.1pp	1.3%-11.5pp	12.8%-2.1pp	14.9%
Return on Assets	0.8%-0.1pp	0.9%+0.3pp	0.6%-0.6pp	1.3%+1.5pp	-0.2%-0.3pp	0.1%-0.9pp	1.0%0.0pp	1.0%
Current Ratio	0.750.0x	0.730.0x	0.770.0x	0.72-0.1x	0.820.0x	0.840.0x	0.80-0.1x	0.87
Debt-to-Equity	9.97-1.0x	10.95-0.8x	11.74-0.4x	12.14-1.3x	13.41+0.4x	13.02+1.0x	12.01-1.9x	13.88
FCF Margin	-17.4%+0.3pp	-17.8%-16.3pp	-1.5%+13.7pp	-15.3%-2.8pp	-12.5%+11.8pp	-24.2%-2.7pp	-21.6%+4.2pp	-25.8%

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.

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Where Aes Corp Ranks

Frequently Asked Questions

What is Aes Corp's annual revenue?

Aes Corp (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 Corp's revenue growing?

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

Is Aes Corp profitable?

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

What is Aes Corp's gross margin?

Aes Corp (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 Corp's net profit margin?

Aes Corp (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 Corp pay dividends?

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

What is Aes Corp's return on equity (ROE)?

Aes Corp (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 Corp's free cash flow?

Aes Corp (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 Corp's operating cash flow?

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

What are Aes Corp's total assets?

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

What are Aes Corp's capital expenditures?

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

How many shares does Aes Corp have outstanding?

Aes Corp (AES) had 712M shares outstanding as of fiscal year 2025.

What is Aes Corp's current ratio?

Aes Corp (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 Corp's debt-to-equity ratio?

Aes Corp (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 Corp's return on assets (ROA)?

Aes Corp (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 Corp's Piotroski F-Score?

Aes Corp (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 Corp's earnings high quality?

Aes Corp (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 Corp?

Aes Corp (AES) scores 13 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.