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AES Corporation

NYSE: AES

Stock price

14.93 USD

(-37.97%) 5 years

Independent Power Producers & Energy TradersIndependent Power Producers

Financial Performance

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5Y price score: (49)

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The price score is a basic measure of the stock's performance against the S&P 500 Index over a five-year period.

A score of 100 indicates that the stock did as well as the S&P 500 Index.

A score below 100 means the stock underperformed the index, while a score above 100 means it outperformed the S&P 500.

10Y return: 79.3%

DATE RANGE:

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  • Free cash flow per share

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13.2

52-week range

17.6

14.93

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FCFF terminal growth rate
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Valuation

Free Cash Flow Yield

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FCF Yield TTM = Trailing Twelve Months free cash flow per share / current market price per shareLearn more

(16.1) %

Dividend Yield TTM

4.7 %

Market cap $

$ 10,647

Price / Earnings TTM

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P/E TTM = current market price per share / Trailing Twelve Months diluted earnings per shareLearn more

5.7

Price / Book TTM

2.2

PEG TTM

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Price/Earnings-to-Growth ratio = P/E TTM divided by most recent annual diluted earnings per share growth rateLearn more

(0.1)

Earnings growth and return

LTM

5YR

10YR

Total return (price & dividends)

6.1 %

(24.3) %

79.3 %

Free cash flow per share growth

(67) %

(278.1) %

(802.6) %

Earnings per share growth

500 %

1,700 %

186.4 %

Founded: 1,981

Employees: 9,100

Business Summary:The AES Corporation operates as an international enterprise primarily focused on electricity generation and distribution. Its activities involve both the ownership and management of power plants, producing and supplying electricity to a diverse clientele that includes other utility companies, large industrial consumers, and various intermediate purchasers. Beyond generation, AES also functions as a utility provider, managing infrastructure to either produce or acquire, then transmit, distribute, and ultimately sell power directly to end-users across residential, commercial, industrial, and governmental sectors. The company is also an active participant in the wholesale electricity market. For power production, AES utilizes a broad spectrum of energy sources and advanced technologies. This includes conventional fuels like coal and natural gas, as well as a significant commitment to renewables such as hydroelectric, wind, solar, and biomass. Its renewable portfolio further incorporates energy storage solutions and landfill gas. With an operational generation capacity of approximately 31,459 megawatts, the company maintains a substantial global presence, conducting business in the United States, Puerto Rico, various nations across Central and South America (including El Salvador, Chile, Colombia, Argentina, Brazil, Mexico), the Caribbean, Europe, and Asia. Founded in 1981, the company was initially named Applied Energy Services, Inc., before officially rebranding to The AES Corporation in April 2000. Its corporate headquarters are located in Arlington, Virginia.

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Fair Value Reference Estimate

Latest Earnings Call Takeaways

2025 Q3 (Nov 5, 2025)

1) Strategic Overview and Leadership Confidence
- AES reaffirmed its full-year 2025 guidance, indicating strong execution towards financial and strategic objectives.
- The company is on track to sign 4 gigawatts of new Power Purchase Agreements (PPAs) this year, with 2.2 gigawatts already signed and an additional 1.8 gigawatts expected by year-end.
- AES is progressing well with its construction projects, having completed 2.9 gigawatts out of a planned 3.2 gigawatts for the year.
- The company maintains its investment-grade credit ratings with a stable outlook from all major agencies.

2) Financial Performance and Segment Results
- Q3 2025 adjusted EBITDA reached $830 million, up from $698 million YoY, driven by growth in renewables and utility investments.
- Adjusted EPS increased to $0.75 from $0.71 YoY, supported by the same growth factors.
- Renewables EBITDA saw a 46% increase year-to-date, attributed to new projects and scaling efficiencies.
- The company's utilities segment is benefiting from significant rate base investments, with a $1.3 billion increase over the past year.

3) Operational Plans and Growth Drivers
- AES is focused on expanding its renewables portfolio, with a backlog of 11.1 gigawatts and plans for further capacity growth through 2027.
- The company is also repowering 1.2 gigawatts of natural gas at AES Indiana, expected to be operational next year.
- AES has signed a development transfer agreement for a data center site, marking a strategic move into co-located energy solutions.
- The company is leveraging its strong supply chain and economies of scale to enhance project returns, with average project sizes increasing by over 50% in the last five years.

4) Challenges and Regulatory Environment
- AES faces challenges related to regulatory approvals, particularly in Indiana, where it has filed for a rate review. The company aims to maintain affordability while investing in infrastructure.
- The resolution of active rate cases is crucial for maintaining competitive pricing in Indiana and Ohio, where AES is among the lowest-cost providers.
- The company is also navigating the impacts of asset sales, including the sell-down of AES Ohio and AES Brazil, which have affected overall EBITDA contributions.

5) Guidance and Future Outlook
- AES reaffirms its long-term growth rate of 5% to 7% for adjusted EBITDA through 2027, with expectations for a strong step-up in growth rates in the coming years.
- The company anticipates an incremental $400 million of run-rate EBITDA from projects expected to come online by the end of 2027.
- AES is focused on self-funding its growth through 2027, with no plans for equity issuance in the near term.
- The call lacked detailed projections beyond 2027 and specific metrics on the impact of the new data center agreements on overall financial performance.

Bottom line: AES is well-positioned for continued growth, driven by its robust renewables pipeline and strategic utility investments. The reaffirmation of guidance and strong operational execution suggest a solid outlook for shareholders, despite regulatory challenges and the impacts of recent asset sales.

Annual Reports, Presentations And IR Contacts

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Annual report links (10K)
2025202420232022202120202019201820172016

AES Corporation — Financial Overview, Stock Price, Market Cap

AES Corporation is a company. Founded in 1981. As of October 9, 2026, the company's market capitalization is $10647448940 with a current stock price of $14.93.