AES Corp. (AES): price, analyst ratings, earnings and fundamentals
Updated 16 October 2026, 06:50 ET
AES Corp. (AES) closed at $14.97 on 15 October 2026, up 0.1%. The stock is up 1.1% over one month and up 4.0% over one year. It trades 15.2% below its 52-week high of $17.65. The company last reported on 4 August 2026 for Q2 2026: EPS of $0.60 against an estimate of $0.52, a beat of 15.4%, on revenue of $3.4 billion.
Price and performance
Performance figures use dividend and split adjusted closes over trading sessions, so a one-year move compares the last close with the close 252 sessions earlier. The 52-week range uses the adjusted daily highs and lows of the same window. Read the guide: Momentum, trend and technical indicators.
The live chart with technical indicators is in the app: open AES in FundSpec.
Analyst ratings
No analyst action on AES was recorded in the last 90 days; the most recent is from 7 May 2026. The most recent price target on file, from 1 firm, is $16, 6.9% above the last close.
| Date | Firm | Action | Price target |
|---|---|---|---|
| 7 May 2026 | Barclays | Maintains Equal-Weight | $12.00 to $16.00 |
| 9 Apr 2026 | Susquehanna | Downgrades to Neutral from Positive | $16.00 to $15.00 |
| 26 Mar 2026 | Argus Research | Downgrades to Hold from Buy | |
| 6 Mar 2026 | Morgan Stanley | Downgrades to Equal-Weight from Overweight | $23.00 to $15.00 |
| 3 Mar 2026 | Mizuho | Downgrades to Neutral from Outperform | $16.00 to $15.00 |
| 27 Feb 2026 | Seaport Global | Upgrades to Neutral from Sell | |
| 20 Feb 2026 | Morgan Stanley | Maintains Overweight | $24.00 to $23.00 |
| 4 Feb 2026 | Barclays | Downgrades to Equal-Weight from Overweight | $15.00 |
| 4 Feb 2026 | Jefferies | Maintains Hold | $13.00 to $16.00 |
| 29 Jan 2026 | JP Morgan | Maintains Overweight | $16.00 to $17.00 |
A price target is one firm's twelve-month view, and the median across firms is a steadier reading than any single call. Upgrades and downgrades matter more when they change a rating, not only a target. Read the guide: What analyst ratings and price targets actually tell you.
Every action with the firm's history is in Analyst Ratings.
Earnings
The next report is scheduled for 3 November 2026 after the close for Q3 2026, with EPS expected at $0.70 on revenue of $3.5 billion. AES Corp. beat the EPS estimate in 6 of its last 8 reported quarters.
| Period | Reported | EPS estimate | EPS actual | Surprise | Revenue |
|---|---|---|---|---|---|
| Q2 2026 | 4 Aug 2026 | $0.52 | $0.60 | +15.38% | $3.4B |
| Q1 2026 | 5 May 2026 | $0.39 | $0.68 | +74.36% | $3.2B |
| Q4 2025 | 2 Mar 2026 | $0.61 | $0.81 | +32.79% | $3.1B |
| Q3 2025 | 4 Nov 2025 | $0.77 | $0.75 | -2.60% | $3.4B |
| Q2 2025 | 31 Jul 2025 | $0.43 | $0.51 | +18.60% | $2.9B |
| Q1 2025 | 1 May 2025 | $0.46 | $0.27 | -41.30% | $2.9B |
| Q4 2024 | 28 Feb 2025 | $0.35 | $0.54 | +54.29% | $3.0B |
| Q3 2024 | 31 Oct 2024 | $0.64 | $0.71 | +10.94% | $3.3B |
An earnings surprise is the reported EPS against the consensus estimate on the day. The price reaction depends as much on guidance and on what was already priced in as on the surprise itself. Read the guide: Earnings season: estimates, surprises and price reaction.
Estimates, confirmed dates and alerts for every company are in Earnings.
Fundamentals
For the period ended 30 June 2026, AES Corp. reported revenue of $3.4 billion and net income of $426.0 million. On a trailing twelve month basis the company shows revenue growth of 8.49%, a gross margin of 20.29%, an operating margin of 22.43% and a return on equity of 45.05%.
Income statement
| Line | Amount |
|---|---|
| Revenue | $3,422,000,000 |
| Cost of Revenue | $2,730,000,000 |
| Gross Profit | $692,000,000 |
| Selling, General & Administrative Expenses | $62,000,000 |
| Depreciation & Amortization | -$434,000,000 |
| Interest Expense | $368,000,000 |
| Pre-tax Income | $449,000,000 |
| Income Tax Expense | $28,000,000 |
| Net Income | $426,000,000 |
Cash flow
| Line | Amount |
|---|---|
| Cash from Operating Activities | $1,046,000,000 |
| Cash from Investing Activities | -$1,464,000,000 |
| Capital Expenditures | $1,643,000,000 |
| Cash from Financing Activities | $485,000,000 |
| Dividends Paid | $126,000,000 |
| Free Cash Flow | -$597,000,000 |
Assets
| Line | Amount |
|---|---|
| Cash & Cash Equivalents | $1,800,000,000 |
| Restricted Cash | $530,000,000 |
| Short-term Investments | $53,000,000 |
| Accounts & Notes Receivable, Net | $1,934,000,000 |
| Prepaid Expenses | $101,000,000 |
| Inventory | $618,000,000 |
| Other Current Assets | $1,351,000,000 |
| Total Current Assets | $6,403,000,000 |
| Plant, Property & Equipment, Net | $40,657,000,000 |
| Operating Lease Right-of-Use Assets | $369,000,000 |
| Goodwill Intangible Assets, Net | $2,375,000,000 |
| Deferred Tax Asset | $1,412,000,000 |
| Other Long-term Assets | $2,799,000,000 |
| Total Assets | $54,238,000,000 |
Liabilities and equity
| Line | Amount |
|---|---|
| Accounts Payable & Accrued Expenses | $2,170,000,000 |
| Total Short-term Debt | $21,000,000 |
| Operating Lease Liabilities, Current | $36,000,000 |
| Income Taxes Payable | $117,000,000 |
| Deferred Liability Charges | $245,000,000 |
| Total Current Liabilities | $8,578,000,000 |
| Operating Lease Liabilities, Long-term | $394,000,000 |
| Finance Lease Liabilities | $735,000,000 |
| Deferred Income Taxes | $1,604,000,000 |
| Minority Interest | $4,830,000,000 |
| Other Liabilities | $2,577,000,000 |
| Total Liabilities | $44,466,000,000 |
| Common Stock | $9,000,000 |
| Additional Paid In Capital | $5,888,000,000 |
| Retained Earnings | $1,429,000,000 |
| Treasury Stock | -$1,781,000,000 |
| Other Accumulated Comprehensive Income | -$603,000,000 |
| Total Stockholders Equity | $4,942,000,000 |
| Total Liability & Stockholders Equity | $54,238,000,000 |
Figures as filed with the SEC for the period ended 30 June 2026, in US dollars.
FundSpec fundamental metrics
Each metric is computed from the company's filings and ranked against every company FundSpec covers; the percentile is the share of covered companies with a lower value.
Liquidity
| Metric | Value | Percentile | What it measures |
|---|---|---|---|
| Cash Ratio | 0.22 | 46th | Calculated as the ratio of Cash and cash equivalents / Current liabilities. This metric calculates the company's ability to repay its short-term debt |
| Current Ratio | 0.75 | 37th | Calculated as the ratio of Current Assets / Current Liabilities. The higher the current ratio, the more capable the company is of paying its obligations |
| Quick Ratio | 0.44 | 30th | Calculated as the ratio of (Cash + Marketable Securities + Accounts Receivable) / Current Liabilities. The quick ratio is a measure of how well a company can meet its short-term financial liabilities. |
Leverage
| Metric | Value | Percentile | What it measures |
|---|---|---|---|
| Debt/Assets | 0.01 | 43rd | Calculated as the ratio of Short-Term Debt + Long-Term Debt / Total Assets. The higher the ratio, the higher the degree of leverage, and consequently, financial risk |
| Debt/Equity | 0.15 | 46th | Calculated as the ratio of Total Liabilities / Shareholders' Equity. The ratio indicates how much debt a company is using to finance its assets relative to the amount of value represented in shareholders’ equity |
| Degree of Financial Leverage | 1.96 | 90th | Calculated as the ratio of Percentage change in EPS / Percentage change in EBIT. A higher degree of financial leverage means that the company has more volatile EPS. |
Profitability
| Metric | Value | Percentile | What it measures |
|---|---|---|---|
| Free Cashflow Margin Pct | -13.2% | 26th | Calculated as the ratio of Free Cashflow from Operating Activities / Net Sales. It measures how much per dollar of revenue the company is able to convert into free cash flow. |
| Gross Margin Pct | 20.3% | 23rd | Calculated as the ratio of Revenue - Cost of Goods Sold (COGS) / Revenue. The gross margin represents the percent of total sales revenue that the company retains after incurring the direct costs associated with producing the goods and services sold by a company. |
| Operating Margin Pct | 22.4% | 83rd | Calculated as the ratio of (Revenue - (Cost of Goods Sold + Labour + Sales, General & Administrative)) / Revenue. Operating margins are important because they measure efficiency. The higher the operating margin, the more profitable a company's core business is. |
| PreTax Margin Pct | 11.4% | 65th | Calculated as the ratio of (Gross profit - (Operating Expense + Interest Expense)) / Revenue. The pretax profit margin enables profitability to be compared across companies with significant differences in size, scale, capital structure and tax rates. |
| Return on Assets Pct | 3.6% | 74th | Calculated as the ratio of Net Income / Total Assets. It is an indicator of how efficient the company is at using its assets to generate earnings. |
| Return on Equity Pct | 45.0% | 95th | Calculated as the ratio of Net Income / Shareholders' equity. It is a measure of how much profit a company generates with the money shareholders have invested. |
| Return on Invested Capital Pct | 59.9% | 99th | Calculated as the ratio of (Net Income - Dividends) / (Debt + Equity). It is a measure of how efficient the company is at allocating the capital under its control to profitable investments. |
Cashflow
| Metric | Value | Percentile | What it measures |
|---|---|---|---|
| FCF Pct Growth | -32.6% | 21st | The Free Cash Flow growth rate over the trailing twelve months (TTM) |
| FCF Pct Growth 3 year CAGR | -47.1% | 20th | The Free Cash Flow compound annual growth rate (CAGR) over the past 3 years |
| FCF Return on Assets Pct | -3.3% | 35th | Calculated as the ratio of Cashflow from Operations / Total Assets. A high cash return on assets means a company is generating more cash flow from every asset dollar |
| Operating Cashflow Pct Growth | 40.0% | 71st | The Operating Cashflow growth rate over the trailing twelve months (TTM) |
| Operating Cashflow Pct Growth 3 year CAGR (FY) | 18.3% | 71st | The Operating Cashflow compound annual growth rate (CAGR) over the past 3 years |
| Operating Cashflow Pct Growth 5 year CAGR (FY) | 14.7% | 75th | The Operating Cashflow compound annual growth rate (CAGR) over the past 5 years |
Earnings Growth (Net Income)
| Metric | Value | Percentile | What it measures |
|---|---|---|---|
| Net Income Pct Growth | 103.0% | 81st | The Net Income growth rate over the trailing twelve months (TTM) |
Top Line Growth
| Metric | Value | Percentile | What it measures |
|---|---|---|---|
| Revenue Pct Growth | 8.5% | 58th | The Revenue (Sales) growth rate over the trailing twelve months (TTM) |
| Revenue Pct Growth 3 year CAGR | 0.3% | 35th | The Revenue (Sales) compound annual growth rate (CAGR) over the past 3 years |
| Revenue Pct Growth 5 year CAGR | 4.6% | 39th | The Revenue (Sales) compound annual growth rate (CAGR) over the past 5 years |
Taxes
| Metric | Value | Percentile | What it measures |
|---|---|---|---|
| Effective Tax Rate Pct | -50.5% | 4th | The effective tax rate of the company over the trailing twelve months (TTM). |
Margins and returns say how much of each dollar of sales becomes profit and how hard the balance sheet is working; leverage and liquidity say how much room the company has when conditions turn. Read the guide: A practical guide to discounted cash flow valuation.
Fair value, peer multiples and the full statement history are in the app: open AES in FundSpec.
Insider activity
No insider transaction was filed in the last 90 days; the most recent is from 15 May 2026.
| Date | Insider | Title | Type | Shares | Price | Value |
|---|---|---|---|---|---|---|
| 15 May 2026 | Corp Aes | 10% Owner | Disposal | 10,066,414 | $21.00 | $211.4M |
| 15 May 2026 | Corp Aes | 10% Owner | Acquisition | 10,066,414 | ||
| 15 May 2026 | Corp Aes | 10% Owner | Disposal | 10,066,414 | ||
| 29 Apr 2026 | Moises Naim | Director | Acquisition | 6,920 | $14.45 | $100K |
| 29 Apr 2026 | Gerard M Anderson | Director | Acquisition | 6,920 | $14.45 | $100K |
| 29 Apr 2026 | Janet Davidson | Director | Acquisition | 2,076 | $14.45 | $30K |
| 29 Apr 2026 | Teresa Mosley Sebastian | Director | Acquisition | 12,111 | ||
| 29 Apr 2026 | Gerard M Anderson | Director | Acquisition | 12,111 | ||
| 29 Apr 2026 | Inderpal S Bhandari | Director | Acquisition | 12,111 | ||
| 29 Apr 2026 | Janet Davidson | Director | Acquisition | 12,111 | ||
| 29 Apr 2026 | Holly K Koeppel | Director | Acquisition | 12,111 | ||
| 29 Apr 2026 | Julia M. Laulis | Director | Acquisition | 12,111 | ||
| 29 Apr 2026 | Alain Monie | Director | Acquisition | 12,111 | ||
| 29 Apr 2026 | Moises Naim | Director | Acquisition | 12,111 | ||
| 23 Apr 2026 | Paul L Freedman | EVP, GC and Corp. Secretary | Acquisition | 44,483 |
Insider filings record what officers and directors did with their own shares. Disposals are often planned sales or tax related, so a pattern across several insiders says more than one filing.
SEC filings
The latest filing is a 10-Q from 4 August 2026.
| Filed | Form | Document |
|---|---|---|
| 4 Aug 2026 | 10-Q | View on sec.gov |
| 5 May 2026 | 10-Q | View on sec.gov |
| 2 Mar 2026 | 10-K | View on sec.gov |
| 4 Nov 2025 | 10-Q | View on sec.gov |
| 1 Aug 2025 | 10-Q | View on sec.gov |
| 1 May 2025 | 10-Q | View on sec.gov |
| 11 Apr 2025 | 10-K/A | View on sec.gov |
| 11 Mar 2025 | 10-K | View on sec.gov |
| 31 Oct 2024 | 10-Q | View on sec.gov |
| 1 Aug 2024 | 10-Q | View on sec.gov |
Company profile
- Exchange
- NYSE
- Sector
- Utilities
- Industry
- Construction Materials
- Headquarters
- Arlington, Virginia
- Chief executive
- Andrés Ricardo Gluski Weilert
- Employees
- 8,450
- Website
- aes.com
- SEC CIK
- 0000874761
The company generates, transmits, distributes, and sells electric energy to approximately 516,000 residential, commercial, and industrial customers. It owns and operates four generating stations, including a coal-fired station in Petersburg; the natural gas and fuel oil station in Harding Street; a combined cycle gas turbine natural gas plant in Eagle Valley; and the small peaking station that uses natural gas in Georgetown. The company was incorporated in 1926 and is based in Indianapolis, Indiana.
Sector and peers
AES Corp. is part of the Utilities sector, which FundSpec tracks across 124 companies.
Companies in the same industry by market capitalization:
WM Waste Management Inc.NGG National Grid PLCRSG Republic Services, Inc.TRP TC Energy Corp.OKE ONEOK Inc.SRE SempraWCN Waste Connections, Inc.FTS Fortis Inc.
Put two of them side by side in Compare.
In FundSpec: the fair value estimate, the momentum reading, relative valuation against sector and industry peers, unusual options activity and AI model signals for AES are available to subscribers, with the same screen in the iOS and Android apps.
Open AES in FundSpec