AES (AES) FY2020 results: revenue $9.7 billion, down 5.2% on the year
AES Corp. (AES) reported revenue of $9.7 billion for fiscal 2020, the year ended 31 December 2020, down 5.2% on the year before. Net income was $46 million, down 84.8%, and diluted earnings per share $0.07. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2021.
Revenue
$9.7 billion
-5.2% on the year
FY2013FY2020
Operating margin
n/a
FY2013FY2020
Net income
$46 million
-84.8% on the year
FY2013FY2020
Diluted EPS
$0.07
-84.4% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
9,660
10,189
10,736
-5.2%
Cost of revenue
6,967
7,840
8,163
-11.1%
Gross profit
2,693
2,349
2,573
+14.6%
Gross margin
27.9%
23.1%
24.0%
Interest expense
1,038
1,050
1,056
-1.1%
Pre-tax income
-192
-277
-509
Income tax
216
352
708
-38.6%
Net income
46.0
303
1,203
-84.8%
Net margin
0.5%
3.0%
11.2%
Diluted EPS
$0.07
$0.45
$1.81
-84.4%
$ million except per share. Read moreFree 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.
Cash flow
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
2,755
2,466
2,343
+11.7%
Capital expenditure
1,900
2,405
2,121
-21.0%
Free cash flow
855
61.0
222
+1,301.6%
Free cash flow margin
8.9%
0.6%
2.1%
Cash from investing
-2,295
-2,721
-505
Cash from financing
-78.0
-86.0
-1,643
Depreciation and amortisation
1,068
1,045
1,003
+2.2%
Share-based compensation
21.0
22.0
20.0
-4.5%
Buybacks
n/a
n/a
0.0
Dividends paid
381
362
344
+5.2%
Dividend per share
$0.58
$0.55
$0.53
+5.0%
Diluted shares, weighted
668m
667m
665m
+0.1%
Shares outstanding at period end
665m
664m
662m
+0.2%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
2,634
2,996
3,208
-12.1%
Non-controlling interest
2,086
2,233
2,396
-6.6%
Redeemable equity
872
888
879
-1.8%
Debt
19,881
20,173
19,295
-1.4%
Operating lease liabilities
293
261
n/a
+12.3%
Finance lease liabilities
77.0
67.0
n/a
+14.9%
Other liabilities
8,760
7,030
6,743
+24.6%
Total liabilities and equity
34,603
33,648
32,521
+2.8%
Fixed assets
22,826
22,574
21,396
+1.1%
Goodwill
1,061
1,059
1,059
+0.2%
Intangible assets
827
469
436
+76.3%
Investments
335
400
313
-16.2%
Cash and equivalents
1,089
1,029
1,166
+5.8%
Receivables
1,300
1,479
1,595
-12.1%
Inventory
461
487
577
-5.3%
Other assets
6,704
6,151
5,979
+9.0%
Total assets
34,603
33,648
32,521
+2.8%
10-K for the year ended 31 December 2020, filed 25 February 2021: the filing.