AES Chart
About

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.

Fundamentals
Scroll to Statements
Sector Utilities Industry Utilities - Diversified Market Cap 10.12B
Enterprise Value 47.37B Income 939.00M Sales 12.23B
Book/sh 5.71 Cash/sh 2.18 Dividend Yield 4.96%
Payout 53.73% Employees 8336 IPO
P/E 10.84 Forward P/E 5.95 PEG
P/S 0.83 P/B 2.49 P/C
EV/EBITDA 13.63 EV/Sales 3.87 Quick Ratio 0.39
Current Ratio 0.77 Debt/Eq 259.39 LT Debt/Eq
EPS (ttm) 1.31 EPS next Y 2.39 EPS Growth -31.70%
Revenue Growth 4.70% Earnings 2026-04-30 ROA 2.54%
ROE 1.95% ROIC Gross Margin 18.40%
Oper. Margin 16.58% Profit Margin 7.44% Shs Outstand 712.56M
Shs Float 708.32M Short Float 2.89% Short Ratio 1.71
Short Interest 52W High 17.65 52W Low 9.46
Beta 0.94 Avg Volume 11.95M Volume 11.06M
Target Price $15.33 Recom Buy Prev Close $14.20
Price $14.20 Change 0.00%
Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$15.33
Mean price target
2. Current target
$14.20
Latest analyst target
3. DCF / Fair value
$-77.96
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$14.20
Low
$15.00
High
$16.00
Mean
$15.33

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-03-06 down Morgan Stanley Overweight → Equal-Weight $15
2026-02-27 up Seaport Global Sell → Neutral
2026-02-04 down Barclays Overweight → Equal-Weight $15
2026-02-04 main Jefferies Hold → Hold $16
2025-12-05 up Argus Research Hold → Buy $18
2025-11-18 up Jefferies Underperform → Hold $13
2025-11-06 main Mizuho Outperform → Outperform $16
2025-10-22 main Morgan Stanley Overweight → Overweight $24
2025-10-21 main Barclays Overweight → Overweight $15
2025-10-13 main Susquehanna Positive → Positive $17
2025-10-07 init Evercore ISI Group — → In-Line $15
2025-07-22 main JP Morgan Overweight → Overweight $15
2025-07-22 main Barclays Overweight → Overweight $14
2025-07-21 main Susquehanna Positive → Positive $16
2025-05-27 down Argus Research Buy → Hold
2025-05-20 down Jefferies Hold → Underperform $9
2025-04-24 main JP Morgan Overweight → Overweight $14
2025-04-10 down Jefferies Buy → Hold $10
2025-03-05 main Susquehanna Positive → Positive $15
2025-03-04 main Mizuho Outperform → Outperform $15
Insider Transactions
Date Shares Value Url Text Insider Position Transaction Start Date Ownership
0 76535 Stock Award(Grant) at price 0.00 per share. COUGHLIN STEPHEN Chief Financial Officer 2026-02-20 00:00:00 D
1 148259 Stock Award(Grant) at price 0.00 per share. FALU RICARDO MANUEL Officer 2026-02-20 00:00:00 D
2 53636 Stock Award(Grant) at price 0.00 per share. FREEDMAN PAUL L. General Counsel 2026-02-20 00:00:00 D
3 70269 Stock Award(Grant) at price 0.00 per share. RUBIOLO JUAN IGNACIO Officer 2026-02-20 00:00:00 D
4 21250 Stock Award(Grant) at price 0.00 per share. KOHAN SHERRY Officer 2026-02-20 00:00:00 D
5 60568 Stock Award(Grant) at price 0.00 per share. MENDOZA TISH Officer 2026-02-20 00:00:00 D
6 70035 Stock Award(Grant) at price 0.00 per share. DA SANTOS BERNERD R Officer 2026-02-20 00:00:00 D
7 391103 Stock Award(Grant) at price 0.00 per share. GLUSKI ANDRES RICARDO Chief Executive Officer 2026-02-20 00:00:00 D
8 42493 Stock Award(Grant) at price 0.00 per share. FALU RICARDO MANUEL Officer 2025-02-21 00:00:00 D
9 66492 Stock Award(Grant) at price 0.00 per share. FREEDMAN PAUL L. General Counsel 2025-02-21 00:00:00 D
Financials
Line Item2025-12-312024-12-312023-12-312022-12-31
TaxEffectOfUnusualItems-87.78M2.03M-284.13M-339.36M
TaxRateForCalcs0.210.070.210.21
NormalizedEBITDA3.36B3.61B3.92B3.64B
TotalUnusualItems-418.00M29.00M-1.35B-1.62B
TotalUnusualItemsExcludingGoodwill-418.00M29.00M-1.35B-1.62B
NetIncomeFromContinuingOperationNetMinorityInterest949.00M1.69B242.00M-546.00M
ReconciledDepreciation1.46B1.26B1.15B1.07B
ReconciledCostOfRevenue10.02B9.96B10.16B10.07B
EBITDA2.94B3.64B2.57B2.02B
EBIT1.48B2.38B1.42B948.00M
NetInterestIncome-1.12B-1.10B-768.00M-728.00M
InterestExpense1.41B1.49B1.32B1.12B
InterestIncome287.00M381.00M551.00M389.00M
NormalizedIncome1.28B1.66B1.31B730.64M
NetIncomeFromContinuingAndDiscontinuedOperation910.00M1.68B249.00M-546.00M
TotalExpenses10.26B10.25B10.42B10.28B
DilutedAverageShares711.44M712.00M665.85M670.49M
BasicAverageShares705.46M669.00M665.85M670.49M
DilutedEPS2.360.35-0.82-0.61
BasicEPS2.380.37-0.82-0.61
DilutedNIAvailtoComStockholders900.00M1.68B249.00M-546.00M
NetIncomeCommonStockholders900.00M1.68B249.00M-546.00M
OtherunderPreferredStockDividend10.00M0.000.00
NetIncome910.00M1.68B249.00M-546.00M
MinorityInterests748.00M877.00M431.00M-41.00M
NetIncomeIncludingNoncontrollingInterests162.00M802.00M-182.00M-505.00M
NetIncomeDiscontinuousOperations-39.00M-7.00M7.00M0.00
NetIncomeContinuousOperations201.00M809.00M-189.00M-505.00M
EarningsFromEquityInterestNetOfTax-55.00M-26.00M-32.00M-71.00M
TaxProvision-181.00M59.00M261.00M265.00M
PretaxIncome75.00M894.00M104.00M-169.00M
OtherIncomeExpense-775.00M-28.00M-1.38B-1.78B
OtherNonOperatingIncomeExpenses-357.00M-57.00M-24.00M-166.00M
SpecialIncomeCharges-344.00M-6.00M-1.00B-1.56B
GainOnSaleOfPPE-14.00M-9.00M-30.00M-13.00M
GainOnSaleOfBusiness58.00M351.00M134.00M-24.00M
OtherSpecialCharges27.00M10.00M41.00M-5.00M
WriteOff272.00M362.00M1.07B763.00M
ImpairmentOfCapitalAssets0.000.0012.00M777.00M
RestructuringAndMergernAcquisition89.00M-24.00M-16.00M-8.00M
GainOnSaleOfSecurity-74.00M35.00M-353.00M-52.00M
NetNonOperatingInterestIncomeExpense-1.12B-1.10B-768.00M-728.00M
InterestExpenseNonOperating1.41B1.49B1.32B1.12B
InterestIncomeNonOperating287.00M381.00M551.00M389.00M
OperatingIncome1.97B2.03B2.25B2.34B
OperatingExpense241.00M288.00M255.00M207.00M
SellingGeneralAndAdministration241.00M288.00M255.00M207.00M
GeneralAndAdministrativeExpense241.00M288.00M255.00M207.00M
OtherGandA241.00M288.00M255.00M207.00M
SalariesAndWages12.00M0.00-11.00M
GrossProfit2.21B2.31B2.50B2.55B
CostOfRevenue10.02B9.96B10.16B10.07B
TotalRevenue12.23B12.28B12.67B12.62B
OperatingRevenue12.23B12.28B12.67B12.62B
Line Item2025-12-312024-12-312023-12-312022-12-31
TreasurySharesNumber147.63M148.64M149.36M150.05M
OrdinarySharesNumber712.20M711.07M669.69M668.74M
ShareIssued859.84M859.71M819.05M818.79M
NetDebt28.52B27.49B25.45B22.12B
TotalDebt29.90B29.02B26.88B23.50B
TangibleBookValue1.68B1.35B-941.00M-604.00M
InvestedCapital33.96B32.66B28.53B25.10B
WorkingCapital-1.99B-1.74B-3.08B1.15B
NetTangibleAssets1.68B1.35B-103.00M234.00M
CommonStockEquity4.06B3.64B1.65B1.60B
PreferredStockEquity838.00M838.00M838.00M
TotalCapitalization30.85B29.07B25.23B24.18B
TotalEquityGrossMinorityInterest9.11B7.70B5.99B4.50B
MinorityInterest5.04B4.06B3.50B2.07B
StockholdersEquity4.06B3.64B2.49B2.44B
GainsLossesNotAffectingRetainedEarnings-698.00M-766.00M-1.51B-1.64B
OtherEquityAdjustments-698.00M-766.00M-1.51B-1.64B
TreasuryStock1.79B1.80B1.81B1.82B
RetainedEarnings641.00M293.00M-1.39B-1.64B
AdditionalPaidInCapital5.90B5.91B6.36B6.69B
CapitalStock9.00M9.00M846.00M846.00M
CommonStock9.00M9.00M8.00M8.00M
PreferredStock0.00838.00M838.00M838.00M
TotalLiabilitiesNetMinorityInterest42.66B39.70B38.81B33.86B
TotalNonCurrentLiabilitiesNetMinorityInterest34.17B31.13B29.08B27.37B
OtherNonCurrentLiabilities2.98B2.88B3.11B3.17B
LiabilitiesHeldforSaleNonCurrent0.00391.00M514.00M0.00
PreferredSecuritiesOutsideStockEquity2.82B938.00M1.46B1.32B
NonCurrentDeferredLiabilities1.58B1.49B1.25B1.14B
NonCurrentDeferredTaxesLiabilities1.58B1.49B1.25B1.14B
LongTermDebtAndCapitalLeaseObligation26.79B25.43B22.75B21.74B
LongTermDebt26.79B25.43B22.75B21.74B
CurrentLiabilities8.49B8.57B9.73B6.49B
OtherCurrentLiabilities662.00M499.00M354.00M559.00M
CurrentDeferredLiabilities85.00M
CurrentDeferredRevenue85.00M
CurrentDebtAndCapitalLeaseObligation3.11B3.59B4.13B1.76B
CurrentDebt3.11B3.59B4.13B1.76B
OtherCurrentBorrowings3.11B3.59B4.13B1.76B
PayablesAndAccruedExpenses5.38B4.32B5.10B4.38B
CurrentAccruedExpenses2.49B1.50B1.65B1.74B
InterestPayable268.00M256.00M315.00M249.00M
Payables2.89B2.82B3.45B2.64B
TotalTaxPayable294.00M249.00M278.00M249.00M
AccountsPayable2.60B2.57B3.17B2.39B
TotalAssets51.77B47.41B44.80B38.36B
TotalNonCurrentAssets45.27B40.58B38.15B30.72B
OtherNonCurrentAssets2.91B3.63B4.26B4.21B
NonCurrentDeferredAssets397.00M365.00M396.00M319.00M
NonCurrentDeferredTaxesAssets397.00M365.00M396.00M319.00M
NonCurrentNoteReceivables755.00M1.05B0.00
InvestmentsAndAdvances1.00B1.12B941.00M952.00M
LongTermEquityInvestment1.00B1.12B941.00M952.00M
InvestmentsInOtherVenturesUnderEquityMethod46.00M37.00M51.00M56.00M
InvestmentsinAssociatesatCost958.00M1.09B890.00M896.00M
GoodwillAndOtherIntangibleAssets2.38B2.29B2.59B2.20B
OtherIntangibleAssets2.04B1.95B2.24B1.84B
Goodwill342.00M345.00M348.00M362.00M
NetPPE37.82B33.17B29.96B23.04B
AccumulatedDepreciation-9.80B-8.70B-8.60B-8.65B
GrossPPE47.61B41.87B38.56B31.69B
ConstructionInProgress7.89B8.43B7.85B4.62B
OtherProperties4.21B3.69B522.00M470.00M
CurrentAssets6.50B6.83B6.65B7.64B
OtherCurrentAssets1.72B1.53B1.39B1.53B
AssetsHeldForSaleCurrent45.00M862.00M762.00M518.00M
RestrictedCash691.00M437.00M370.00M536.00M
PrepaidAssets192.00M157.00M177.00M98.00M
Inventory612.00M593.00M712.00M1.05B
Receivables1.68B1.65B1.42B1.80B
AccountsReceivable1.68B1.65B1.42B1.80B
AllowanceForDoubtfulAccountsReceivable-39.00M-52.00M-5.00M-5.00M
GrossAccountsReceivable1.72B1.70B1.80B1.42B
CashCashEquivalentsAndShortTermInvestments1.56B1.60B1.82B2.10B
OtherShortTermInvestments174.00M79.00M395.00M730.00M
CashAndCashEquivalents1.38B1.52B1.43B1.37B
Line Item2025-12-312024-12-312023-12-312022-12-31
FreeCashFlow-1.62B-4.64B-4.69B-1.84B
RepaymentOfDebt-10.04B-10.70B-9.28B-7.86B
IssuanceOfDebt10.53B15.49B13.02B11.41B
IssuanceOfCapitalStock992.00M0.00421.00M60.00M
CapitalExpenditure-5.93B-7.39B-7.72B-4.55B
InterestPaidSupplementalData1.21B1.27B1.32B928.00M
IncomeTaxPaidSupplementalData227.00M345.00M301.00M271.00M
EndCashPosition2.16B2.04B1.99B2.09B
BeginningCashPosition2.04B1.99B2.09B1.48B
EffectOfExchangeRateChanges-27.00M-63.00M-270.00M-56.00M
ChangesInCash150.00M112.00M173.00M659.00M
OtherCashAdjustmentInsideChangeinCash79.00M97.00M-78.00M22.00M
FinancingCashFlow1.98B4.96B5.41B3.76B
CashFlowFromContinuingFinancingActivities1.98B4.96B5.41B3.76B
NetOtherFinancingCharges919.00M657.00M1.68B568.00M
CashDividendsPaid-501.00M-483.00M-444.00M-422.00M
CommonStockDividendPaid-501.00M-483.00M-444.00M-422.00M
NetPreferredStockIssuance992.00M0.00421.00M60.00M
PreferredStockIssuance992.00M0.00421.00M60.00M
NetIssuancePaymentsOfDebt565.00M4.79B3.74B3.55B
NetShortTermDebtIssuance79.00M0.000.00737.00M
ShortTermDebtPayments-6.20B-6.29B-4.69B-2.42B
ShortTermDebtIssuance6.81B7.10B5.42B2.80B
NetLongTermDebtIssuance486.00M4.79B3.74B3.55B
LongTermDebtPayments-10.04B-10.70B-9.28B-7.86B
LongTermDebtIssuance10.53B15.49B13.02B11.41B
InvestingCashFlow-6.21B-7.70B-8.19B-5.84B
CashFlowFromContinuingInvestingActivities-6.21B-7.70B-8.19B-5.84B
NetOtherInvestingChanges-170.00M-360.00M-379.00M-368.00M
NetInvestmentPurchaseAndSale-92.00M-22.00M381.00M-443.00M
SaleOfInvestment93.00M796.00M1.32B1.05B
PurchaseOfInvestment-185.00M-818.00M-937.00M-1.49B
NetBusinessPurchaseAndSale-19.00M74.00M-466.00M-474.00M
SaleOfBusiness108.00M423.00M254.00M1.00M
PurchaseOfBusiness-127.00M-349.00M-720.00M-475.00M
CapitalExpenditureReported-5.93B-7.39B-7.72B-4.55B
OperatingCashFlow4.31B2.75B3.03B2.71B
CashFlowFromContinuingOperatingActivities4.31B2.75B3.03B2.71B
ChangeInWorkingCapital199.00M-92.00M310.00M-289.00M
ChangeInOtherWorkingCapital-2.00M33.00M-314.00M
ChangeInOtherCurrentLiabilities-32.00M161.00M41.00M-152.00M
ChangeInOtherCurrentAssets5.00M-73.00M5.00M433.00M
ChangeInPayablesAndAccruedExpense115.00M-174.00M-241.00M419.00M
ChangeInPayable115.00M-174.00M-241.00M419.00M
ChangeInAccountPayable215.00M-40.00M-132.00M470.00M
ChangeInTaxPayable-100.00M-134.00M-109.00M-51.00M
ChangeInIncomeTaxPayable-100.00M-134.00M-109.00M-51.00M
ChangeInPrepaidAssets-25.00M269.00M38.00M-40.00M
ChangeInInventory6.00M86.00M306.00M-417.00M
ChangeInReceivables130.00M-361.00M161.00M-532.00M
ChangesInAccountReceivables130.00M-361.00M161.00M-532.00M
OtherNonCashItems1.65B441.00M130.00M99.00M
ProvisionandWriteOffofAssets361.00M238.00M264.00M425.00M
AssetImpairmentCharge337.00M374.00M1.08B1.72B
DeferredTax92.00M111.00M-54.00M4.00M
DeferredIncomeTax92.00M111.00M-54.00M4.00M
DepreciationAmortizationDepletion1.46B1.26B1.15B1.07B
DepreciationAndAmortization1.46B1.26B1.15B1.07B
OperatingGainsLosses44.00M-386.00M340.00M194.00M
EarningsLossesFromEquityInvestments111.00M36.00M
GainLossOnInvestmentSecurities48.00M-143.00M143.00M127.00M
NetForeignCurrencyExchangeGainLoss54.00M108.00M331.00M58.00M
GainLossOnSaleOfBusiness-58.00M-351.00M-134.00M9.00M
NetIncomeFromContinuingOperations162.00M802.00M-182.00M-505.00M
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

Public Trades for AES
Date User Broker Pattern Type Position Size Entry Price Trade P&L Status