The AES (AES) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

The AES

NYSE•Utilities•Utilities - Diversified

$14.84+0.02(<0.01%)Market open

Market Cap

$10.59B

P/E

5.7x

P/S

0.8x

P/B

2.1x

The AES Corporation, together with its subsidiaries, operates as a power generation and utility company. It operates through four segments: Renewables, Utilities, Energy Infrastructure, and New Energy Technologies. The company owns and/or operates power plants to generate and sell power to customers, such as utilities, industrial users, and other intermediaries; 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, as well as investments in technologies to support leading-edge greener energy solutions. It uses various fuels and technologies to generate electricity, such as solar, hydro, wind, coal, and gas, as well as renewables comprising energy storage and landfill gas. The company owns and/or operates a generation portfolio of approximately 34,740 megawatts and distributes power to 2.7 million customers. The company operates in the United States, Chile, Dominican Republic, El Salvador, Mexico, Bulgaria, Panama, Colombia, Argentina, Vietnam, Jordan, Puerto Rico, and internationally. 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 based in Arlington, Virginia.

How this company scores

WeakMetricSide Score: 47/100

Grade capped at D — Interest coverage below 1× (0.5x) — earnings cannot cover interest. Strongest: Profitability (19/25); weakest: Cash & Earnings Quality (2/25).

Profitability19/25

Growth18/25

Balance Sheet & Red Flags8/25

Cash & Earnings Quality2/25

Strengths

High ROERising earningsProfit converts from growthNet cash position

Grade capped at D

Interest coverage below 1× (0.5x) — earnings cannot cover interest.

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 5.7x5y range 5.4x – 51.6x

Currently below its 12-quarter median.

P/S · 0.8x5y range 0.6x – 1.5x

Currently near its 20-quarter median.

P/B · 2.1x5y range 2.1x – 7.9x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Red Flag

Free cash flow has been negative in 8 of the last 8 quarters — earnings are not translating to cash.

Price & Volume

Market Cap $10.59B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $13.05B
Q. Revenue: $3.42B
TTM EBITDA: $2.22B
TTM Op. Income: $588.00M
Q. Op. Income: $169.00M
TTM Net Income: $1.87B
Q. Net Income: $426.00M
EPS: $0.6
Shares Out.: $713.00M

$13.05B in TTM revenue grew 8.5% YoY, reaching $3.42B last quarter. TTM EBITDA of $2.22B and TTM operating income of $588.00M show growth is flowing through to the bottom line. TTM net income of $1.87B means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 4 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 20.2%
EBITDA Margin: 17.6%
Op. Margin: 4.9%
Net Margin: 12.4%

Op. margin of 4.9% is up 13.5% YoY — cost efficiency is improving. Net margin at 12.4% and gross margin of 20.2% show how much of each revenue dollar survives to profit. Across the last 8 quarters, operating margin has risen for 2 consecutive quarters — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 5.7x
P/S Ratio: 0.8x
P/B Ratio: 2.1x

At 5.7x P/E, the stock trades below typical market levels. P/S of 0.8x and P/B of 2.1x provide additional context. P/E sits below typical market levels while revenue is growing. Across the last 8 quarters, P/E has fallen for 2 consecutive quarters — an improving trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $54.24B
Cash: $1.80B
Long-Term Debt: N/A
Book Value: $4.94B
D/E Ratio: N/A
Debt/EBITDA: 0.0

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $1.05B
TTM Free Cash Flow: $-1.72B
FCF Margin: -13.2%
FCF / Net Income: -0.9

TTM FCF of $-1.72B on $1.05B in operating cash flow. The FCF / Net Income ratio of -0.9x means the business consumes cash — it is not yet self-funding. Over the past year, free cash flow is up 33% — a weakening trend.