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Stocks / United States / AES · Cogeneration Services & Small Power Producers · NYSE

AES Corp. (AES)

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AES Corp. (AES) reported revenue of $3.4 billion for Q2 FY2026, the quarter ended 30 June 2026, up 19.9% on the same quarter a year earlier. Net income was $426 million, and diluted earnings per share $0.60. The figures are the company's own, from the 10-Q it filed with the SEC on 4 August 2026.

Revenue$3.4 billionup 19.9%
Net income$426 million
Diluted EPS$0.60
QuarterQ2 FY2026ended 30 June 2026

Ratios

From the filings

ROE37.9%
ROCEn/a
Operating marginn/a
Net margin14.3%
FCF margin-13.2%
Interest covern/a
Debt to equityn/a
Cash conversion2.69
Share count, 1 year0.2%
Sales CAGR, 3 years-1.0%
Profit CAGR, 3 yearsn/a
EPS, TTM$2.62

At the close of 21 September 2026

Price$14.83
Market cap$10.6 billion
Stock P/E5.66
Price to book2.14
EV / EBITDAn/a
Dividend yield4.7%
Market cap / sales0.81
52-week high$17.28
52-week low$13.03
Price, 1 year13.6%
Price CAGR, 3 years-2.4%
Price CAGR, 5 years-8.9%

Every figure is arithmetic on the filed lines (hover a name for the formula); the priced ones use the latest daily close, CBOE delayed quotes, daily history, by CBOE, for splits. Nothing here is a valuation or a view.

Price, 17 September 2021 to 21 September 2026

Daily closes from CBOE delayed quotes, daily history, by CBOE, for splits; the last is 21 September 2026. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on AES

Filings28 in twelve months: 14 current reports (8-K), about 4 other events; 4 material agreement; 3 officer or director change; 3 regulation fd disclosure; 2 shareholder vote
Planned insider salesno Form 144 notice in twelve months
Options tapeput/call 2.79 by open interest on 23 September 2026; the straddle prices a 0.9% move to 16 October 2026
Holders6 of the followed funds hold it; largest Geode Capital Management; 1 Schedule 13D or 13G filing in twelve months
Insider trading1 sale and 0 purchases on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest17.5 million shares short, 2.17 days to cover at 31 August 2026
Documentsthe 10-K, the 10-Qs, the proxy and 1 earnings press release, each linked

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue3,4342,9683,0852,9423,2892,9622,9262,8553,3513,1013,1803,422
Cost of revenue2,5162,4742,4662,3892,5672,5422,4852,4022,6162,5192,5402,730
Gross profit918494619553722420441453735582640692
Gross margin27%17%20%19%22%14%15%16%22%19%20%20%
Interest expense326353357389379360342352348365353368
Pre-tax income414-579277-77.0329365-22.039.0327-269242449
Tax rate26%n/a-6%n/a31%2%n/a428%-69%n/a-17%6%
Net income231-94.043218550256046.0-95.0639320487426
Net margin7%-3%14%6%15%19%2%-3%19%10%15%12%
Diluted EPS$0.32-$0.12$0.60$0.27$0.71$0.78$0.07-$0.15$0.89$0.45$0.68$0.60
Operating cash flow1,1227252873929851,0885459761,2971,4881,2011,046
Capital expenditure1,8992,4292,1481,6851,8321,7271,2541,3321,8081,5351,7661,643
Free cash flow-777-1,704-1,861-1,293-847-639-709-356-511-47.0-565-597
Dividends paid111111116122123122125125126125125126
Shares outstanding670m670m711m711m711m711m712m712m712m712m713m713m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Profit and loss, 12 fiscal years and the trailing twelve months

FY2014 FY2015 FY2016 FY2017 FY2018FY2019FY2020FY2021 FY2022FY2023 FY2024FY2025TTM
Revenue16,12411,26010,28110,53010,73610,1899,66011,14112,61712,66812,27812,23313,054
Cost of revenuen/an/a7,8988,0658,1637,8406,9678,43010,06910,1649,96410,02210,405
Gross profit2,9802,6632,3832,4642,5732,3492,6932,7112,5482,5042,3142,2112,649
Gross margin18.5%23.7%23.2%23.4%24.0%23.1%27.9%24.3%20.2%19.8%18.8%18.1%20.3%
Interest expense1,4511,1451,1341,1701,0561,0501,0389111,1171,3191,4851,4071,434
Pre-tax income578513-354-521-509-277-19264496.010489475.0749
Income tax37141232.0990708352216-13326526159.0-181-378
Effective tax rate64.2%80.3%n/an/an/an/an/a-20.7%276.0%251.0%6.6%-241.3%-50.5%
Net income769306-1,130-1,1611,20330346.0-409-5462491,6799101,872
Net margin4.8%2.7%-11.0%-11.0%11.2%3.0%0.5%-3.7%-4.3%2.0%13.7%7.4%14.3%
Diluted EPS$1.06$0.44-$1.71-$1.76$1.81$0.45$0.07-$0.61-$0.82$0.35$2.36$1.26$2.62
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K

Income statement lines from each year's 10-K, the year linked to its filing; TTM is the sum of the last four quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Cash flow and capital returned

FY2014 FY2015 FY2016 FY2017 FY2018FY2019FY2020FY2021 FY2022FY2023 FY2024FY2025TTM
Operating cash flow1,7912,1342,8972,5042,3432,4662,7551,9022,7153,0342,7524,3065,032
Capital expenditure2,0162,3082,3452,1772,1212,4051,9002,1164,5517,7247,3925,9296,752
Free cash flow-225-17455232722261.0855-214-1,836-4,690-4,640-1,623-1,720
Free cash flow margin-1.4%-1.5%5.4%3.1%2.1%0.6%8.9%-1.9%-14.6%-37.0%-37.8%-13.3%-13.2%
Depreciation and amortisation1,2451,1441,1761,1691,0031,0451,0681,0561,0531,1471,2641,4571,633
Share-based compensationn/a8.010.08.020.022.021.014.023.02.012.014.0n/a
Buybacks30848279.00.00.0n/an/an/an/an/an/an/an/a
Dividends paid144276290317344362381401422444483501502
Dividend per share$0.25$0.41$0.45$0.49$0.53$0.55$0.58$0.61$0.64$0.67$0.69$0.70$0.70
Diluted shares, weighted724m689m662m660m665m667m668m666m668m712m713m714m715m
Shares outstanding at period end704m667m659m660m662m664m665m667m669m670m711m712m713m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K

Buybacks and dividends are the cash paid in the year, from the cash flow statement; the dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2014 FY2015 FY2016 FY2017 FY2018FY2019FY2020FY2021 FY2022FY2023 FY2024FY2025TTM
Total assets38,56236,54536,11933,11232,52133,64834,60332,96338,36344,79947,40651,76854,238
Cash and equivalents1,5171,2181,2449491,1661,0291,0899431,3741,4261,5241,3821,800
Receivables2,7092,3021,4211,4631,5951,4791,3001,4181,7991,4201,6461,6831,934
Inventory7026716225625774874616041,055712593612618
Goodwill1,4581,1571,1571,0591,0591,0591,0611,177362348345342342
Operating lease liabilitiesn/an/an/an/an/a261293294374387392394n/a
Finance lease liabilitiesn/an/an/an/an/a67.077.0128169n/a553714n/a
Shareholders' equity4,2723,1492,7942,4653,2082,9962,6342,7982,4372,4883,6444,0634,942
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K

At the fiscal year end; the TTM column is the latest quarter end. A line the company does not tag under the usual name is left out.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded0.8%4.8%-1.0%8.5%
Profit growth, compounded11.5%81.7%n/a84.8%
Return on equity, average0.3%8.3%26.2%22.4%

Compounded growth is the latest fiscal year over the year that many years earlier, annualised; the TTM column is the last four quarters over the four before. Return on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Filings

FilingPeriodFiledWhere
10-Q30 June 20264 August 2026EDGAR
10-Q31 March 20265 May 2026EDGAR
10-K31 December 20252 March 2026EDGAR
10-Q30 September 20254 November 2025EDGAR
10-Q30 June 20251 August 2025EDGAR
10-Q31 March 20251 May 2025EDGAR
10-K/A31 December 202411 April 2025EDGAR
10-K31 December 202411 March 2025EDGAR
10-Q30 September 202431 October 2024EDGAR
10-Q30 June 20241 August 2024EDGAR

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