AES - NYSE
The AES Corporation
$14.73
+0.14%The AES Corporation operates as a diversified power generation and utility company. It owns and/or operates power plants to generate and sell power to customers, such as utilities, industrial users, and other intermediaries. The company also owns and/or operates utilities to generate or purchase, distribute, transmit, and sell electricity to end-user customers in the residential, commercial, industrial, and governmental sectors; and generates and sells electricity on the wholesale market. It uses a range of fuels and technologies to generate electricity, including coal, gas, hydro, wind, solar, and biomass; and renewables, such as energy storage and landfill gas. The company owns and/or operates a generation portfolio of approximately 31,459 megawatts. It has operations in the United States, Puerto Rico, El Salvador, Chile, Colombia, Argentina, Brazil, Mexico, Central America, the Caribbean, Europe, and Asia. The company was formerly known as Applied Energy Services, Inc. and changed its name to The AES Corporation in April 2000. The AES Corporation was incorporated in 1981 and is headquartered in Arlington, Virginia.
At a Glance
Live SnapshotThe AES Corporation Cash Conversion Engine
Cash Flow Quality Analysis
FCF Conversion Rate
Negative free cash flow despite positive earnings raises concerns about cash generation ability or heavy capital requirements.
CapEx Intensity
Very high capital intensity consumes most operating cash flow. Limited flexibility for dividends or debt reduction.
FCF Growth Trend
Strong FCF growth demonstrates improving cash generation and business momentum. Positive signal for sustainability.
Working Capital Impact
Working capital inflow boosted cash flow. Efficient management of receivables, inventory, and payables contributing positively.
Cash Flow Quality Insight
Cash flow concerns: Despite profitability, the company is burning cash. Review working capital management, CapEx levels, and sustainability of current operations.
The AES Corporation Cash Flow Statement
AES • NYSE
| The AES Corporation Cash Flow Statement | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | Dec 2017 | Dec 2016 | Dec 2015 | Dec 2014 | Dec 2013 | Dec 2012 | Dec 2011 | Dec 2010 | Dec 2009 | Dec 2008 | Dec 2007 | Dec 2006 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
OPERATING ACTIVITIES | ||||||||||||||||||||
939M | 1.7B | 242M | -546M | -413M | 43M | 302M | 985M | -507M | -20M | 331M | 789M | 284M | -915M | 458M | -86M | 729M | 1.2B | 495M | 176M | |
1.5B | 1.3B | 1.1B | 1.1B | 1.1B | 1.1B | 1B | 1B | 1.2B | 1.2B | 1.1B | 1.2B | 1.3B | 1.4B | 1.3B | 1.2B | 1B | 1B | 942M | 933M | |
92M | 111M | -54M | 4M | -406M | -233M | -8M | 313M | 672M | -793M | -50M | 47M | -158M | 162M | -199M | -418M | 15M | 160M | 210M | -10M | |
1.6B | -217M | 1.4B | 2.5B | 3B | 1.6B | 1.2B | 228M | 1.2B | 2B | 1.1B | 732M | 1.4B | 2.3B | 1.3B | 2.2B | 1B | 328M | 1.1B | 1.4B | |
(0.0) | (345M) | (301M) | (271M) | (459M) | (333M) | (363M) | (370M) | (377M) | -487M | (388M) | (480M) | (570M) | (647M) | (971M) | (698M) | (484M) | (465M) | (621M) | (479M) | |
199M | -92M | 310M | -289M | -1.4B | 290M | -39M | -186M | -66M | 553M | -437M | -1B | -344M | -68M | 52M | 608M | -597M | -544M | -412M | -165M | |
4.3B | 2.8B | 3B | 2.7B | 1.9B | 2.8B | 2.5B | 2.3B | 2.5B | 2.9B | 2.1B | 1.8B | 2.7B | 2.9B | 2.9B | 3.5B | 2.2B | 2.2B | 2.4B | 2.4B | |
INVESTING ACTIVITIES | ||||||||||||||||||||
-5.9B | -7.4B | -7.7B | -4.6B | -2.1B | -1.9B | -2.4B | -2.1B | -2.2B | -2.3B | -2.3B | -2B | -2B | -2.2B | -2.4B | -2.3B | -2.5B | -2.8B | -2.4B | -1.5B | |
(2.4B) | (1.6B) | (1.6B) | -102M | -507M | (327M) | (3M) | (2B) | -531M | -55M | (247M) | (1.1B) | (225M) | (665M) | -2.5B | (364M) | (19M) | (298M) | (837M) | (903M) | |
-204M | -921M | -1.1B | -1.7B | -946M | -985M | -1.1B | -1.6B | -3.4B | -5.2B | -4.8B | -4.6B | -4.5B | -6B | -6B | -5.9B | -4.4B | -5.5B | -3B | -2.4B | |
93M | 796M | 1.3B | 1B | 616M | 627M | 666M | 1.3B | 3.5B | 4.9B | 4.9B | 4.5B | 4.4B | 6.4B | 6.1B | 5.8B | 4.5B | 5.2B | 2.5B | 2B | |
-170M | -360M | -379M | -368M | -42M | -70M | 126M | -84M | -88M | 545M | -229M | 442M | 74M | 281M | -101M | 12M | 461M | -710M | 157M | 50M | |
-3.8B | -6.2B | -6.3B | -5.7B | -3B | -2B | -2.7B | -462M | -2.7B | -2.1B | -2.2B | -581M | -1.8B | -892M | -5B | -2B | -1.9B | -3.6B | -2B | -907M | |
FINANCING ACTIVITIES | ||||||||||||||||||||
992M | 0.0 | 421M | 60M | 1.2B | 112M | 0.0 | 0.0 | 0.0 | -79M | -482M | -308M | -322M | -301M | -279M | 1.5B | 0.0 | -143M | 58M | 78M | |
130M | 4.6B | 4B | 4B | -37M | 431M | 712M | -828M | 848M | -69M | 528M | -50M | 229M | -530M | 2.8B | -902M | 1.3B | 702M | 549M | -1.1B | |
-501M | -483M | -444M | -422M | -401M | -381M | -362M | -344M | -317M | -290M | -276M | -144M | -119M | -30M | (0.0) | (0.0) | -846M | (0.0) | (0.0) | (0.0) | |
(0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | (0.0) | -79M | -482M | -308M | -322M | -301M | -279M | -99M | (0.0) | -143M | (0.0) | (0.0) | |
-1B | -666M | -454M | -62M | 12M | -534M | -453M | -514M | -582M | -309M | 132M | -760M | -924M | -878M | -1.1B | -1.3B | -648M | -197M | -363M | -269M | |
-403M | 3.5B | 3.5B | 3.6B | 741M | -372M | -103M | -1.7B | -51M | -747M | -98M | -1.3B | -1.1B | -1.7B | 1.4B | -706M | 610M | 362M | 244M | -1.3B | |
CASH FLOW SUMMARY | ||||||||||||||||||||
41M | 150M | -365M | 26M | 213M | -361M | 170M | 118M | -81M | -60M | -66M | -365M | -283M | 257M | -241M | 148M | -322M | 96M | 43M | -31M | |
112M | 165M | -114M | 663M | -139M | 21M | -171M | 313M | -298M | -31M | -270M | -417M | -482M | 527M | -934M | 912M | 584M | -948M | 674M | 96M | |
2B | 1.8B | 1.9B | 1.2B | 1.4B | 1.4B | 1.5B | 1.2B | 1.5B | 1.6B | 1.8B | 2.2B | 2.7B | 2.2B | 3.1B | 2.2B | 1.6B | 2.6B | 1.9B | 1.8B | |
2.1B | 2B | 1.8B | 1.9B | 1.2B | 1.4B | 1.4B | 1.5B | 1.2B | 1.5B | 1.6B | 1.8B | 2.2B | 2.7B | 2.2B | 3.1B | 2.2B | 1.6B | 2.6B | 1.9B | |
-1.6B | -4.6B | -4.7B | -1.8B | -214M | 855M | 61M | 222M | 312M | 539M | -174M | -225M | 727M | 665M | 454M | 1.2B | -307M | -675M | -68M | 951M |
SEC Filings
AES - Filing history and reports
| Filing Type | Filing Date | Period Ending | Fiscal Year | Actions |
|---|---|---|---|---|
10-Q 10-Q 2026 Q1 Q1 | May 05, 2026 | March 31, 2026 | 2026 | |
8-K 8-K 2026 N/A | April 30, 2026 | April 29, 2026 | 2026 | |
8-K 8-K 2026 N/A | April 16, 2026 | April 14, 2026 | 2026 | |
DEF 14A DEF 14A 2026 N/A | March 20, 2026 | April 29, 2026 | 2026 | |
8-K 8-K 2026 N/A | March 19, 2026 | March 13, 2026 | 2026 | |
8-K 8-K 2026 N/A | March 02, 2026 | March 01, 2026 | 2026 | |
10-K 10-K 2025 FY FY | March 02, 2026 | December 31, 2025 | 2025 | |
8-K 8-K 2026 N/A | January 16, 2026 | January 16, 2026 | 2026 | |
10-Q 10-Q 2025 Q3 Q3 | November 04, 2025 | September 30, 2025 | 2025 | |
8-K 8-K 2025 N/A | November 04, 2025 | November 04, 2025 | 2025 |
Related Guides
Continue your AES research with focused valuation guides.
Research Paths
Snapshot
Start with context, operating signals, and key market metrics.
Value Model
Stress test fair value across bear, base, and bull assumptions.
Statements
Validate revenue quality, margins, and balance sheet durability.
Earnings Call
Read management commentary and compare it with reported outcomes.
Dividends
Check payout sustainability and long-term distribution behavior.
Analyst Expectations
Review consensus spread and where estimate risk is concentrated.