Aes Corp (AES) Financial Statements
Industry: Cogeneration Services & Small Power Producers
In fiscal 2025, Aes reported revenue of $12.23B, down 0.4% from $12.28B the year before. Net income was $910.0M (a 7.4% net margin), or $1.26 per diluted share. Gross margin was 18.1% and operating margin was 4.2%. Operating activities generated $4.31B of cash, leaving -$1.62B of free cash flow. At fiscal year end, Aes held $51.77B in total assets against $47.70B in total liabilities, including $1.38B of cash and equivalents.
Open the full interactive Aes financials → Quarterly statements, key ratios, valuation history and price charts.
Aes Key Stats
| Share Price | $14.99 |
|---|---|
| Market Cap | $10.72B |
| P/E Ratio | 11.9 |
| Revenue YoY Growth | -0.4% |
| 52-Week Range | $12.97 – $16.87 |
| Shares Outstanding | 713.0 million (basic, 2026 Q2) |
Aes Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $9.66B | $11.14B | $12.62B | $12.67B | $12.28B | $12.23B |
| Cost of Goods Sold | $6.97B | $8.43B | $10.07B | $10.16B | $9.96B | $10.02B |
| Gross Profit | $2.69B | $2.71B | $2.55B | $2.50B | $2.31B | $2.21B |
| Operating Income | $1.46B | $1.49B | $1.29B | $1.12B | $762.0M | $513.0M |
| Pre-Tax Income | $488.0M | -$1.06B | -$169.0M | $104.0M | $894.0M | $75.0M |
| Income Tax | $216.0M | -$133.0M | $265.0M | $261.0M | $59.0M | -$181.0M |
| Net Income | $46.0M | -$409.0M | -$546.0M | $249.0M | $1.68B | $910.0M |
| Diluted EPS | $0.07 | -$0.61 | -$0.82 | $0.35 | $2.36 | $1.26 |
Aes Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $3.35B | $3.10B | $3.18B | $3.42B |
| Net Income | $639.0M | $320.0M | $487.0M | $426.0M |
| Diluted EPS | $0.89 | $0.45 | $0.68 | $0.60 |
Aes Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $1.09B | $943.0M | $1.37B | $1.43B | $1.52B | $1.38B |
| Current Assets | $5.41B | $5.36B | $7.64B | $6.65B | $6.83B | $6.50B |
| Total Assets | $34.60B | $32.96B | $38.36B | $44.80B | $47.41B | $51.77B |
| Current Liabilities | $5.36B | $4.73B | $6.49B | $9.73B | $8.57B | $8.49B |
| Total Liabilities | $31.97B | $30.16B | $35.93B | $42.31B | $43.76B | $47.70B |
| Shareholders' Equity | $2.63B | $2.80B | $2.44B | $2.49B | $3.64B | $4.06B |
Aes Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $2.75B | $1.90B | $2.71B | $3.03B | $2.75B | $4.31B |
| Cash From Investing | -$2.29B | -$3.05B | -$5.84B | -$8.19B | -$7.70B | -$6.21B |
| Cash From Financing | -$78.0M | $797.0M | $3.76B | $5.41B | $4.96B | $1.98B |
| Free Cash Flow | $855.0M | -$214.0M | -$1.84B | -$4.69B | -$4.64B | -$1.62B |
Figures from Aes' 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Aes financials page for every line item.
Aes Company Profile
| Ticker | AES |
|---|---|
| Exchange | NYSE |
| Industry | Cogeneration Services & Small Power Producers |
| Headquarters | Arlington, Virginia |
| Incorporated in | Delaware |
| Fiscal Year End | December 31 |
| SEC Filer Category | Large accelerated filer |
| SEC CIK | 0000874761 |
Frequently Asked Questions
What was Aes' revenue in fiscal 2025?
Aes (AES) reported revenue of $12.23B for fiscal 2025.
What is Aes' annual revenue history?
Aes' annual revenue by fiscal year: 2020: $9.66B; 2021: $11.14B; 2022: $12.62B; 2023: $12.67B; 2024: $12.28B; 2025: $12.23B.
What was Aes' net income in fiscal 2025?
Aes reported net income of $910.0M for fiscal 2025.
What was Aes' earnings per share (EPS) in fiscal 2025?
Aes' diluted EPS was $1.26 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Aes generate in fiscal 2025?
Aes generated -$1.62B of free cash flow in fiscal 2025.
What was Aes' revenue last quarter?
In its most recent reported quarter (2026 Q2), Aes reported revenue of $3.42B.
How many shares of Aes are outstanding?
Aes reported a weighted average of 713.0 million basic shares outstanding in 2026 Q2.
What is Aes' market cap?
Based on its latest closing price, Aes (AES) has a market capitalization of about $10.72B.
When does Aes' fiscal year end?
Aes' fiscal year end, as registered with the SEC, is December 31.
Where is Aes headquartered?
Aes lists its business address in Arlington, Virginia in its SEC filings.