AES is a global power company that operates in 15 countries. Its generation portfolio totals over 32 gigawatts, including renewable energy, gas, coal, and oil.
It is a $10.7B utility company. Revenue grew 8.5% over the last year, it keeps 14¢ of every dollar of sales as profit, and it carries $29.8B of net debt. It trades at 5.7× earnings — in the cheapest third of its own history.
- Website
- aes.com
- Location
- Arlington, VA
- Employees
- 8 336
- Sector
- Utilities
Skills
Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.
Growth, Health and Moat lag behind.
Valuation65
- P/E vs own history23th pct · 20/25
- FCF yield-16.1% · 0/25
- P/S0.8x · 25/25
- EV/EBITDA11.3x · 20/25
Growth31
- Revenue CAGR2.4% · 6/25
- Net income CAGRn/a · 0/25
- EPS CAGR ~5Y142.6% · 25/25
- Fwd implied growth-10.7% · 0/25
Profitability70
- ROIC6.0% · 5/25
- ROE43.3% · 25/25
- Net margin14.3% · 20/25
- Operating margin15.2% · 20/25
Health12
- Altman Z0.35 · 3/25
- Current ratio0.75 · 6/25
- Interest coverage1.1x · 3/25
- Net cash / debtD/A 58% · 0/25
Quality60
- Piotroski F4/9 · 10/25
- Beneish M-2.82 · 25/25
- FCF conversion-92% · 0/25
- Margin stabilityσ 3.2% · 25/25
Moat16
- ROIC >12% years0/10 yrs · 0/25
- Median gross margin21.6% · 6/25
- FCF-positive years5/10 yrs · 5/25
- Worst-year net marginworst -4.3% · 5/25
Experience
The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.
- 2026AcquisitionA consortium led by BlackRock subsidiary Global Infrastructure Partners and Swedish private equity…
- FY2024FinancialBest year on record$1.68B net income
- 2021MilestoneIndianapolis Power & Light rebranded as AES Indiana
- 2021AcquisitionAES acquired Community Energy Solar (Community Energy) to help deliver 4 GW of renewables in the U.S
- FY2018FinancialTurned profitable$1.20B net income after a loss year
- FY2018FinancialRevenue crossed $1B$10.7B for the year
- FY2018FinancialRevenue crossed $10B$10.7B for the year
- 2018AcquisitionAES acquired the subsidiary sPower
- 2000AcquisitionAES acquired the assets of Indianapolis Power & Light (also known as IPL or IPALCO) in 2000
- 1991IPOThe company was initially a consulting firm; it became AES Corporation
Achievements
Verifiable track record, straight from the reported numbers.
Strengths & watch-outs
What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.
Strengths
No standout strengths in the available data.
Watch-outs
- Negative free cash flow (-$1.7B)
- Altman Z-Score 0.35 — elevated financial-distress risk
- Thin interest coverage (1.1×)
- Loss-making in 4 of the recent years
Qualifications
The basics a company should meet before you research it further. Each check uses the reported numbers.
- Revenue growing — the company sells more than a year ago+8.5% YoY
- Profitable — makes more than it spends$1.87B TTM
- Profit growing — earnings are higher than last year+79.2% YoY
- Generates cash — cash left after running and investing-$1.72B TTM
- Debt under control — could handle its obligationscurrent ratio 0.75
- Established company — not a micro-cap — lower blow-up risk$10.7B market cap
- Not printing shares — share count not ballooning — you keep your slice+38.5% shares over ~5y
- Proven track record — years of profitability behind it6/10 profitable years
- Financially stable — balance sheet not near distressAltman Z 0.3 — distress
- Pays a dividend — returns cash to shareholdersyield 4.71%
- Valuation not extreme — price not wildly above earningsP/E 5.7
Peer comparisonAES Corporation vs 6 largest utilities peers — cap, P/E, growth and margin side by sideOpen ▾Close ▴
| Company | Market cap | P/E | Revenue growth | Net margin | Profile |
|---|---|---|---|---|---|
| AES this company | $10.7B | 5.7 | +8.5% | 14.3% | Strained |
| NEE NextEra Energy, Inc. | $161.3B | 17.4 | +10.8% | 32.4% | Strained |
| CEG Constellation Energy Corporation | $105.8B | 30.5 | +26.0% | 11.1% | Strained |
| SO The Southern Company | $99.1B | 21.3 | +6.4% | 15.4% | Strained |
| DUK Duke Energy Corporation | $90.9B | 17.3 | +6.3% | 15.8% | Strained |
| WMB Williams Companies Inc. | $89.2B | 29.0 | +8.7% | 25.2% | Strained |
| KMI Kinder Morgan, Inc. | $72.4B | 20.9 | +12.5% | 19.3% | Strained |
Head-to-head: AES vs NEE · AES vs CEG · AES vs SO
References
What covering analysts publish about the company — information only, not a recommendation.
Appendix · Financial records
The full statements behind this CV, FY2016–FY2025. For readers who want to check the numbers.
Live data and quarterly detail: stockcv.com/AES
Want the live picture — intraday moves, valuation history and full analysis?
Deeper analysis of AES on PreMarketPriceFigures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $14.96 · market cap $10.7B.