# AES Corporation (AES) — Stock CV

AES Corporation 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.

> 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.

## Identity

- **Ticker**: AES
- **Sector**: Utilities
- **Industry**: Cogeneration Services & Small Power Producers
- **Headquarters**: ARLINGTON, VA
- **Employees**: 8 336
- **Website**: https://www.aes.com
- **Market cap**: $10.7B
- **Last price**: $14.96
- **Financial profile**: Strained

## Vitals (TTM)

- **Revenue**: $13.1B
- **Net income**: $1.87B
- **Free cash flow**: -$1.72B
- **Net debt**: $29.8B
- **P/E**: 5.7
- **Revenue growth (YoY)**: 8.5%

## Skills (profile scores, 0–100)

| Pillar | Score |
|---|---|
| Valuation | 65 |
| Growth | 31 |
| Profitability | 70 |
| Health | 12 |
| Quality | 60 |
| Moat | 16 |

## Qualifications (beginner checklist) — 7 of 11 passed

- [x] Revenue growing — +8.5% YoY
- [x] Profitable — $1.87B TTM
- [x] Profit growing — +79.2% YoY
- [ ] Generates cash — -$1.72B TTM
- [ ] Debt under control — current ratio 0.75
- [x] Established company — $10.7B market cap
- [ ] Not printing shares — +38.5% shares over ~5y
- [x] Proven track record — 6/10 profitable years
- [ ] Financially stable — Altman Z 0.3 — distress
- [x] Pays a dividend — yield 4.71%
- [x] Valuation not extreme — P/E 5.7

## Experience (career milestones)

- **2026** — A consortium led by BlackRock subsidiary Global Infrastructure Partners and Swedish private equity…
- **FY2024** — Best year on record: $1.68B net income
- **2021** — Indianapolis Power & Light rebranded as AES Indiana
- **2021** — AES acquired Community Energy Solar (Community Energy) to help deliver 4 GW of renewables in the U.S
- **FY2018** — Turned profitable: $1.20B net income after a loss year
- **FY2018** — Revenue crossed $1B: $10.7B for the year
- **FY2018** — Revenue crossed $10B: $10.7B for the year
- **2018** — AES acquired the subsidiary sPower
- **2000** — AES acquired the assets of Indianapolis Power & Light (also known as IPL or IPALCO) in 2000
- **1991** — The company was initially a consulting firm; it became AES Corporation

## Strengths

- None stand out in the 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

## Track record

| Year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $11.1B | -$409M | -$214M |
| FY2022 | $12.6B | -$546M | -$1.84B |
| FY2023 | $12.7B | $249M | -$4.69B |
| FY2024 | $12.3B | $1.68B | -$4.64B |
| FY2025 | $12.2B | $910M | -$1.62B |

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Source: https://stockcv.com/AES — derived from company filings; may be delayed or incomplete. Information, not investment advice.