Saturday 17 October 2026
Export AES’s income statement to Excel — free account
The AES Corporation
AES Utilities Utilities Diversified
The AES Corporation’s revenue for fiscal 2025 (year ended December 2025) was $12.2 billion, roughly unchanged from fiscal 2024. In the quarter to June 2026, revenue grew 19.9%, EPS grew 500.0%, free cash flow fell 67.7% and total debt rose 6.10%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for ten consecutive years.
14.95
0.02
−0.13%
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| Dec '16 | Dec '17 | Dec '18 | Dec '19 | Dec '20 | Dec '21 | Dec '22 | Dec '23 | Dec '24 | Dec '25 | |
|---|---|---|---|---|---|---|---|---|---|---|
P/E ratio |
0.00 | 0.00 | 7.95 | 44.22 | 293.75 | 0.00 | 0.00 | 53.72 | 5.38 | 11.38 |
Piotroski F-Score |
4 | 5 | 7 | 3 | 5 | 5 | 4 | 5 | 5 | 4 |
Altman Z-Score |
0.45 | 0.46 | 0.74 | 0.67 | 0.63 | 0.55 | 0.65 | 0.36 | 0.42 | 0.36 |
P/S ratio |
0.75 | 0.68 | 0.89 | 1.30 | 1.62 | 1.45 | 1.49 | 1.02 | 0.74 | 0.83 |
P/FCF ratio |
13.94 | 21.96 | 43.12 | 216.62 | 18.28 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Altman Z″-Score (non-manufacturers) |
0.34 | 0.19 | 0.69 | 0.37 | 0.25 | (0.03) | 0.20 | (0.37) | 0.11 | 0.04 |
Beneish M-Score |
(3.11) | (2.98) | (2.50) | (2.85) | (2.99) | (2.59) | (2.63) | (3.04) | (2.58) | (2.80) |
P/Operating CF |
10.76 | 8.94 | 14.46 | 19.12 | 23.39 | 30.94 | 17.61 | 17.85 | 8.35 | 6.86 |
Dividend Safety Score |
— | — | — | — | — | — | — | — | — | 16 |
P/B ratio |
1.35 | 1.48 | 1.71 | 2.53 | 3.31 | 4.34 | 5.12 | 2.51 | 1.18 | 1.12 |
Price to Tangible BV |
1.81 | 2.10 | 2.33 | 3.57 | 5.52 | 14.69 | 12.83 | 5.06 | 1.68 | 1.52 |
EV/Sales |
2.44 | 2.42 | 2.52 | 3.10 | 3.50 | 3.00 | 3.14 | 2.97 | 2.94 | 3.09 |
EV/EBITDA |
18.39 | 13.14 | 8.53 | 14.79 | 19.22 | 0.00 | 36.77 | 30.08 | 16.71 | 23.02 |
EV/Operating CF |
8.66 | 10.18 | 11.53 | 12.82 | 12.26 | 17.56 | 14.60 | 12.40 | 13.10 | 8.79 |
EV/FCF |
45.47 | 77.98 | 121.71 | 518.39 | 39.52 | (156.09) | (21.59) | (8.02) | (7.77) | (23.33) |
Quick Ratio |
0.66 | 0.52 | 0.78 | 0.64 | 0.56 | 0.61 | 0.68 | 0.37 | 0.43 | 0.46 |
Current Ratio |
1.22 | 1.06 | 1.14 | 1.03 | 1.01 | 1.13 | 1.18 | 0.68 | 0.80 | 0.77 |
Net Debt/EBITDA |
12.75 | 9.44 | 5.51 | 8.61 | 10.33 | (2,152.50) | 19.35 | 19.73 | 12.50 | 16.81 |
Debt/Assets |
53.85% | 60.30% | 59.33% | 59.95% | 57.45% | 56.73% | 61.25% | 60.00% | 61.21% | 57.75% |
Debt/Equity |
3.41 | 4.12 | 3.44 | 3.86 | 4.21 | 4.09 | 5.22 | 4.49 | 3.77 | 3.28 |
Asset Turnover |
0.28 | 0.30 | 0.33 | 0.31 | 0.28 | 0.33 | 0.35 | 0.30 | 0.27 | 0.25 |
Operating CF/Net income |
(2.56) | (2.16) | 1.95 | 8.14 | 59.89 | (4.65) | (4.97) | 12.18 | 1.64 | 4.78 |
Capex/Depreciation |
(1.99) | (1.86) | (2.11) | (2.30) | (1.78) | (2.00) | (4.25) | (6.73) | (5.85) | (4.07) |
| (19.04%) | (22.02%) | 23.03% | 5.59% | 0.92% | (9.68%) | (14.77%) | 5.65% | 26.13% | 10.71% | |
| (3.11%) | (3.35%) | 3.67% | 0.92% | 0.13% | (1.21%) | (1.53%) | 0.60% | 3.64% | 1.81% | |
ROIC |
0.51% | 2.08% | 5.87% | 2.89% | 1.88% | (3.05%) | 0.01% | 0.21% | 1.61% | 0.32% |
Return on Tangible Assets |
(5.24%) | (5.62%) | 5.47% | 1.33% | 0.20% | (1.99%) | (2.26%) | 0.93% | 5.34% | 2.51% |
Average Days of Receivables |
50.45 | 50.71 | 54.23 | 52.98 | 49.12 | 46.46 | 52.04 | 40.91 | 48.93 | 50.22 |
Research and Development Expense of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Selling, General and Administrative Expense of Revenue |
1.89% | 2.04% | 1.79% | 1.92% | 1.71% | 1.49% | 1.64% | 2.01% | 2.35% | 1.97% |
Intangible Assets out of Total Assets |
0.04 | 0.04 | 0.05 | 0.05 | 0.05 | 0.08 | 0.06 | 0.06 | 0.05 | 0.05 |
Share Based Compensation of Revenue |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Graham Net Nets |
(3.12) | (3.05) | (2.29) | (1.75) | (1.57) | (1.42) | (1.40) | (2.49) | (3.62) | (3.54) |
Graham Number |
0.00 | 0.00 | 18.62 | 8.93 | 3.57 | 0.00 | 0.00 | 7.89 | 24.22 | 19.04 |
Earnings Yield |
(14.75%) | (16.18%) | 12.59% | 2.26% | 0.34% | (2.51%) | (2.92%) | 1.86% | 18.57% | 8.79% |
Free Cash Flow Yield |
7.17% | 4.55% | 2.32% | 0.46% | 5.47% | (1.32%) | (9.78%) | (36.25%) | (51.07%) | (15.90%) |
Revenue per Share |
15.58 | 15.95 | 16.22 | 15.34 | 14.53 | 16.73 | 18.89 | 18.94 | 17.39 | 17.18 |
Operating CF per Share |
4.39 | 3.79 | 3.54 | 3.71 | 4.14 | 2.86 | 4.06 | 4.54 | 3.90 | 6.05 |
Capex per Share |
(3.55) | (3.30) | (3.20) | (3.62) | (2.86) | (3.18) | (6.81) | (11.55) | (10.47) | (8.33) |
Free Cash Flow per Share |
0.84 | 0.50 | 0.34 | 0.09 | 1.29 | (0.32) | (2.75) | (7.01) | (6.57) | (2.28) |
Cash per Share |
3.11 | 2.50 | 2.79 | 2.66 | 2.59 | 2.22 | 3.95 | 3.28 | 2.89 | 3.16 |
Shareholders Equity per Share |
8.64 | 7.34 | 8.47 | 7.88 | 7.10 | 6.86 | 6.74 | 8.95 | 10.91 | 12.79 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
8.64 | 7.34 | 8.47 | 7.88 | 7.10 | 6.86 | 6.74 | 8.95 | 10.91 | 12.79 |
Free Cash Flow |
552.00 | 327.00 | 222.00 | 61.00 | 855.00 | (214.00) | (1,836.00) | (4,690.00) | (4,640.00) | (1,623.00) |
Working Capital |
1,139.00 | 370.00 | 616.00 | 135.00 | 52.00 | 624.00 | 1,152.00 | (3,082.00) | (1,740.00) | (1,990.00) |
Capital Expenditures |
(2,345.00) | (2,177.00) | (2,121.00) | (2,405.00) | (1,900.00) | (2,116.00) | (4,551.00) | (7,724.00) | (7,392.00) | (5,929.00) |
Net Current Asset Value |
(24,008.00) | (21,869.00) | (21,902.00) | (23,188.00) | (24,469.00) | (23,040.00) | (26,216.00) | (32,165.00) | (32,871.00) | (36,161.00) |
EV/EBIT |
132.80 | 33.07 | 12.48 | 28.93 | 48.97 | 0.00 | 6,605.91 | 361.78 | 40.34 | 201.38 |
Capex to Sales |
0.23 | 0.21 | 0.20 | 0.24 | 0.20 | 0.19 | 0.36 | 0.61 | 0.60 | 0.48 |
Price to Operating Income |
40.72 | 9.31 | 4.42 | 12.09 | 22.65 | 0.00 | 3,129.58 | 124.41 | 10.16 | 54.31 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.06 | 0.06 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0.04 | 0.04 | 0.04 |
Cash ROIC |
2.03% | 1.24% | 0.83% | 0.22% | 3.25% | (0.86%) | (5.99%) | (13.38%) | (11.97%) | (3.93%) |
Accounts Receivable Turnover |
5.52 | 7.30 | 7.02 | 6.63 | 6.95 | 8.20 | 7.84 | 7.87 | 8.01 | 7.35 |
Accounts Payable Turnover |
5.62 | 6.18 | 6.05 | 5.94 | 5.65 | 7.30 | 6.99 | 5.17 | 5.17 | 5.52 |
Inventory Turnover |
12.22 | 13.62 | 14.33 | 14.74 | 14.70 | 15.83 | 12.14 | 11.50 | 15.27 | 16.63 |
Average Days of Payables |
57.21 | 62.05 | 59.42 | 61.04 | 60.56 | 49.92 | 62.71 | 78.97 | 60.59 | 72.11 |
Days of Inventory on Hand |
28.75 | 25.43 | 25.80 | 22.67 | 24.15 | 26.15 | 38.24 | 25.57 | 21.72 | 22.29 |
Average Receivables |
1,861.50 | 1,442.00 | 1,529.00 | 1,537.00 | 1,389.50 | 1,359.00 | 1,608.50 | 1,609.50 | 1,533.00 | 1,664.50 |
Average Payables |
1,404.50 | 1,304.50 | 1,350.00 | 1,320.00 | 1,233.50 | 1,154.50 | 1,441.50 | 1,964.50 | 1,926.50 | 1,817.00 |
Average Inventory |
646.50 | 592.00 | 569.50 | 532.00 | 474.00 | 532.50 | 829.50 | 883.50 | 652.50 | 602.50 |
Average Assets |
36,297.00 | 34,618.00 | 32,816.50 | 33,084.50 | 34,125.50 | 33,783.00 | 35,663.00 | 41,581.00 | 46,102.50 | 49,587.00 |
Average Common Equity |
5,935.50 | 5,272.50 | 5,224.50 | 5,416.50 | 4,974.50 | 4,224.50 | 3,697.50 | 4,406.50 | 6,425.50 | 8,404.50 |
Columns are period end dates