AES owns and operates power plants and electric utilities across 15 countries. It generates electricity from a mix of renewables (50%), natural gas (32%), coal (16%), and oil (2%), with a total capacity of over 32 gigawatts. It also runs six regulated electric utilities that deliver power directly to about 2.5 million end customers. Revenue comes from long-term power purchase agreements with offtakers and from regulated utility distribution businesses.
Employees8,336IPOJun 27, 1991SIC4911HQ4300 Wilson Boulevard, Arlington, VA, USA, 22203
to
Financials
Profitability
Metric
Current
Margins
Gross Margin
20.3%
Operating Margin
18.5%
EBITDA Margin
29.2%
Net Margin
14.3%
OCF Margin
38.6%
FCF Margin
−13.2%
Returns on Capital
ROE
45.3%
ROA
3.6%
ROIC
5.0%
ROCE
5.1%
ROC (Greenblatt)
5.7%
3Y ROIIC
−2.4%
Consistency
Years Profitable / 10Y
6
Valuation
Metric
Current
Earnings Multiples
P/E (TTM)
5.70
Forward P/E
6.56
P/E ex-NRI
5.56
Shiller P/E (CAPE)
51.55
Cash Flow Multiples
P/FCF
—
P/OCF
2.12
P/Owner Earnings
—
FCF Yield
−16.13%
Enterprise Value Multiples
EV / EBIT
20.96
EV / Forward EBIT
14.24
EV / EBITDA
11.99
EV / Forward EBITDA
9.18
EV / Revenue
3.50
EV / Forward Revenue
2.85
Asset / Sales
P/S
0.82
P/B
2.16
P/Tangible Book
4.15
Growth-Adjusted
PEG
0.41
Capital Returns
Metric
Current
Dividends
Dividend Yield (TTM)
4.71%
Forward Dividend Yield
4.71%
3Y Dividend Growth
3.7%
Payout Ratio
0.26
5Y Yield on Cost
5.90%
Buybacks & Dilution
3Y Buyback Ratio
−2.10%
5Y Share Change
6.9%
Combined
Shareholder Yield
−5.93%
Balance Sheet
Metric
Current
Leverage
Debt / Equity
6.50
Gross Debt / EBITDA
8.42
Cash / Debt
0.06
Equity / Assets
0.09
Coverage
Interest Coverage
1.69
Short-Term Liquidity
Current Ratio
0.75
Quick Ratio
0.67
Cash Ratio
0.22
Composite Scores
Piotroski F-Score
6
Altman Z-Score
0.50
Split History
Date
Split
2000-06-02
2:1
1997-08-29
2:1
1994-03-04
1.03:1
1994-02-01
1.5:1
Ex-date
Amount
Pay date
2026-05-01
$0.176
2026-05-15
2026-01-30
$0.176
2026-02-13
2025-10-31
$0.176
2025-11-14
2025-08-01
$0.176
2025-08-15
2025-05-01
$0.176
2025-05-15
2025-01-31
$0.176
2025-02-14
2024-11-01
$0.1725
2024-11-15
2024-08-01
$0.1725
2024-08-15
2024-04-30
$0.1725
2024-05-15
2024-01-31
$0.1725
2024-02-15
10 of 61
View allDate
Transcript
Type
2026-06-26
AES Corp Extraordinary Shareholders Meeting Transcript
Shareholders and Annual Meetings
2025-11-05
Q3 2025 AES Corp Earnings Call Transcript
Earnings Call
2025-08-01
Q2 2025 AES Corp Earnings Call Transcript
Earnings Call
2025-05-02
Q1 2025 AES Corp Earnings Call Transcript
Earnings Call
2025-04-02
Q1 2025 AES Corp Earnings Call Transcript
Earnings Call
2025-02-28
Q4 2024 AES Corp Earnings Call Transcript
Earnings Call
2024-11-01
Q3 2024 AES Corp Earnings Call Transcript
Earnings Call
2024-08-02
Q2 2024 AES Corp Earnings Call Transcript
Earnings Call
2024-05-03
Q1 2024 AES Corp Earnings Call Transcript
Earnings Call
2024-02-27
Q4 2023 AES Corp Earnings Call Transcript
Earnings Call
10 of 41
5-Step DuPont Analysis
ROE %
45.05%
×
×
Net Margin %
14.34%
×
×
Operating Margin %
18.52%
Operating Income
$2.42B
÷
Revenue
$13.05B
×
Tax Burden
2.4993
Net Income
$1.87B
÷
Pretax Income
$749M
×
Interest Burden
0.3099
Pretax Income
$749M
÷
Operating Income
$2.42B
×
Asset Turnover
0.25
÷
Revenue
$13.05B
÷
Average Total Assets
$51.39B
Begin Total Assets
$48.54B
End Total Assets
$54.24B
×
Equity Multiplier
12.37
÷
Avg Total Assets
$51.39B
÷
Avg Stockholders Equity
$4.16B
Begin Equity
$3.37B
End Equity
$4.94B
Top institutional holders
Q2 2026| Holder | Shares | % Owned | Chg. shares | |
|---|---|---|---|---|
| BlackRock, Inc. | 49.3M | 6.92% | +2.1M | $722.43M |
| VANGUARD CAPITAL MANAGEMENT LLC | 46.5M | 6.53% | +222.7K | $681.76M |
| STATE STREET CORP | 42.9M | 6.02% | -89.4K | $628.80M |
| VANGUARD PORTFOLIO MANAGEMENT LLC | 35.4M | 4.96% | -134.9K | $518.60M |
| Balyasny Asset Management L.P. | 34.6M | 4.86% | +23.5M | $507.73M |
| GEODE CAPITAL MANAGEMENT, LLC | 25.1M | 3.53% | +610.7K | $367.77M |
| MILLENNIUM MANAGEMENT LLC | 21.3M | 2.99% | +11.4M | $312.32M |
| MORGAN STANLEY | 21.0M | 2.95% | -3.3M | $307.81M |
| Invesco Ltd. | 18.5M | 2.60% | +285.5K | $271.92M |
| GOLDMAN SACHS GROUP INC | 14.6M | 2.06% | +1.8M | $214.74M |
10 of 710
View allTop insider holdings
as reported| Insider | Shares held | % Owned | |
|---|---|---|---|
| Da Santos BernerdOfficer | 405.1K | 0.0569% | $6.06M |
| Mendoza TishOfficer | 335.0K | 0.0470% | $5.01M |
| Rubiolo Juan IgnacioOfficer | 275.9K | 0.0387% | $4.12M |
| Coughlin StephenOfficer | 265.5K | 0.0373% | $3.97M |
| Falu Ricardo ManuelOfficer | 235.6K | 0.0331% | $3.52M |
| Freedman Paul LOfficer | 223.2K | 0.0313% | $3.34M |
| Kohan SherryOfficer | 71.4K | 0.0100% | $1.07M |
| Gluski AndresOfficer | — | — | — |
8 of 8· 1 withheld
View allRecent insider activity
through Apr 23, 2026| Insider | Action | Shares | Date | |
|---|---|---|---|---|
| Mendoza TishOfficer | Grant/Award (Rule 16b-3(d)) | +46.6K | $0 | Apr 23, 2026 |
| Freedman Paul LOfficer | Grant/Award (Rule 16b-3(d)) | +44.5K | $0 | Apr 23, 2026 |
| Coughlin StephenOfficer | Grant/Award (Rule 16b-3(d)) | +50.3K | $0 | Apr 23, 2026 |
| Rubiolo Juan IgnacioOfficer | Grant/Award (Rule 16b-3(d)) | +48.3K | $0 | Apr 23, 2026 |
| Kohan SherryOfficer | Tax Withholding | -483 | $7,858 | Feb 24, 2026 |
| Rubiolo Juan IgnacioOfficer | Tax Withholding | -4.0K | $65.7K | Feb 24, 2026 |
| Rubiolo Juan IgnacioOfficer | Tax Withholding | -1.6K | $26.0K | Feb 24, 2026 |
| Mendoza TishOfficer | Tax Withholding | -1.5K | $24.2K | Feb 24, 2026 |
| Freedman Paul LOfficer | Tax Withholding | -1.4K | $22.6K | Feb 24, 2026 |
| Da Santos BernerdOfficer | Tax Withholding | -1.5K | $24.9K | Feb 24, 2026 |
10 of 2,006
View all