Stocktoria

AES CORP AES

NYSE · stock · Cogeneration Services & Small Power Producers · website · IPO 1991-06-26

AES CORP statistics & valuation

P / E11.5×
P / S0.9×
P / B1.1×
Net margin7.4%
FCF margin-13.3%
Graham number +29.3%$19.01

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($19.01); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
-11.00% -11.00% 11.20% 3.00% 0.50% -3.70% -4.30% 2.00% 13.70% 7.40% 2016201720182019202020212022202320242025
Gross margin (%)
23.20% 23.40% 24.00% 23.10% 27.90% 24.30% 20.20% 19.80% 18.80% 18.10% 2016201720182019202020212022202320242025
Operating margin (%)
2016201720182019202020212022202320242025
Return on equity (%)
-19.80% -24.00% 21.50% 5.80% 1.00% -9.00% -12.10% 4.20% 21.80% 10.00% 2016201720182019202020212022202320242025
Shares outstanding
660.0M 660.4M 665.0M 667.0M 668.0M 666.8M 668.7M 712.0M 713.0M 714.0M 2016201720182019202020212022202320242025
Net debt ($)
2016201720182019202020212022202320242025
Share buybacks ($)
2016201720182019202020212022202320242025
Return on assets (%)
-3.10% -3.50% 3.70% 0.90% 0.10% -1.20% -1.40% 0.60% 3.50% 1.80% 2016201720182019202020212022202320242025
Free cash flow margin (%)
5.40% 3.10% 2.10% 0.60% 8.90% -1.90% -14.60% -37.00% -37.80% -13.30% 2016201720182019202020212022202320242025
Debt / equity (×)
2016201720182019202020212022202320242025
EPS ($)
-$1.72 -$1.76 $1.81 $0.45 $0.07 -$0.61 -$0.82 $0.35 $2.36 $1.26 2016201720182019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

AES CORP trades at about 11.7× earnings — below its 10-year norm (10-year range 4.7×–348.4×, median 44.1×).

4.7× 348.4×

Shaded band = 10-year range (4.7×–348.4×); dot = today's 11.7×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Gross margin18.1%18.8%19.8%20.2%24.3%27.9%23.1%24.0%23.4%23.2%
Net margin7.4%13.7%2.0%-4.3%-3.7%0.5%3.0%11.2%-11.0%-11.0%
FCF margin-13.3%-37.8%-37.0%-14.6%-1.9%8.9%0.6%2.1%3.1%5.4%
Return on assets1.8%3.5%0.6%-1.4%-1.2%0.1%0.9%3.7%-3.5%-3.1%
Return on equity10.0%21.8%4.2%-12.1%-9.0%1.0%5.8%21.5%-24.0%-19.8%
Current ratio0.770.800.681.181.131.011.031.141.061.22

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.