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.
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The AES Corporation (AES) Gross margin
The AES Corporation's gross margin over the twelve months to 30 June 2026 was 20.3%, up 2.2 percentage points from fiscal 2025 (18.1%). Over the past ten years it has ranged from 18.1% (fiscal 2025) to 27.9% (fiscal 2020) — the current reading is the lowest in ten years. That is below the Utilities Diversified industry median of 56.4% and below the Utilities sector median of 62.0%.
Gross margin, annual
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Annual newest first
| Period | Gross margin | Change (points) |
|---|---|---|
| FY2025 | 18.1% | (0.78) |
| FY2024 | 18.9% | (0.92) |
| FY2023 | 19.8% | (0.42) |
| FY2022 | 20.2% | (4.14) |
| FY2021 | 24.3% | (3.55) |
| FY2020 | 27.9% | 4.83 |
| FY2019 | 23.1% | (0.92) |
| FY2018 | 24.0% | 0.56 |
| FY2017 | 23.4% | 0.23 |
| FY2016 | 23.2% | (0.47) |
Quarterly newest first
| Period | Gross margin | Change (points) |
|---|---|---|
| Jun 2026 | 20.2% | 0.09 |
| Mar 2026 | 20.1% | 1.36 |
| Dec 2025 | 18.8% | (3.16) |
| Sep 2025 | 21.9% | 6.06 |
| 42 more quarters | Free account |
Against its own ten years
Gross margin against peers
| Company | Gross margin |
|---|---|
| AVA Avista Corporation compare | 100.0% |
| SRE Sempra compare | 88.1% |
| UTL Unitil Corporation compare | 56.4% |
| BIP Brookfield Infrastructure Partners LP compare | 26.5% |
| AES The AES Corporation | 20.3% |
| ELPC Companhia Paranaense de Energia - Copel Unsponsored ADR compare | — |
| Utilities Diversified industry median | 56.4% |
| Utilities sector median | 62.0% |
| Market median | 46.2% |
What Gross margin is
Gross Margin tells an investor how much of each sale a company keeps after paying the direct costs of making or buying what it sells.
Gross Profit ÷ Revenue
More on AES
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- Altman Z-score
- Beneish M-score
- The full statement