AES: revenue, profit and dividends

In fiscal 2025, AES had revenue of $12.2B, up 0.8% a year on average since 2015, and net income of $910M (7.4% of revenue). Its dividend per share has gone up 13 years in a row, to $0.70.

Revenue, fiscal 2025

$12.2B+0.8% a year

average annual revenue growth since 2015 · −0.4% vs 2024

Net income, 2025

$910M

7.4% of revenue

Diluted EPS, 2025

$1.26

11.1% a year since 2015

Dividend per share, 2025

$0.70

raised 13 years in a row

Revenue growth, 5 years

4.8% a year

since 2020

Shares, 2025

714M

+3.6% since 2015

Free cash flow, 2025

−$1.62B

$4.31B from operations − $5.93B capex

Ticker: AES · NYSE
Sector: Utilities
Sub-industry: Independent Power Producers & Energy Traders
Headquarters: Arlington, Virginia
Founded: 1981
In the S&P 500 since: October 2, 1998
Latest fiscal year: 2025, ended December 31, 2025
SEC filer: Aes Corp · CIK 0000874761

Revenue and net income

Revenue went from $13.1B in 2009 to $12.2B in 2025. Net loss in 2007, 2012, 2016–2017, 2021–2022.

RevenueNet income

Fiscal years · US dollarsSource: SEC EDGAR (company filings)

Diluted earnings per share

Diluted EPS went from −$0.14 in 2007 to $1.26 in 2025. Ten-year growth: 11.1% a year.

Fiscal years · US dollars per share, adjusted for splitsSource: SEC EDGAR (company filings)

Dividends per share

Raised 13 years in a row, every year from 2013 to 2025. Ten-year growth: 5.6% a year.

Fiscal years · US dollars per share, adjusted for splitsSource: SEC EDGAR (company filings)

Shares outstanding

3.6% more shares in 2025 than in 2015 (689M → 714M): new shares outweighed buybacks.

Fiscal years · diluted weighted-average shares, adjusted for splitsSource: SEC EDGAR (company filings)

Operating cash flow, capex and free cash flow

Free cash flow (operating cash flow minus capital expenditure) was −$1.62B in 2025, −13.3% of revenue. Negative in 2007–2009, 2014–2015, 2021–2025.

Operating cash flowCapital expenditureFree cash flow

Fiscal years · US dollarsSource: SEC EDGAR (company filings)

Year by year

Fiscal year	Revenue	Net income	Net margin	Diluted EPS	Dividend	Shares	Operating cash flow	Capex	Free cash flow
2025	$12.2B	$910M	7.4%	$1.26	$0.70	714M	$4.31B	$5.93B	−$1.62B
2024	$12.3B	$1.68B	13.7%	$2.36	$0.69	713M	$2.75B	$7.39B	−$4.64B
2023	$12.7B	$249M	2.0%	$0.35	$0.67	712M	$3.03B	$7.72B	−$4.69B
2022	$12.6B	−$546M	−4.3%	−$0.82	$0.64	668M	$2.71B	$4.55B	−$1.84B
2021	$11.1B	−$409M	−3.7%	−$0.61	$0.61	666M	$1.9B	$2.12B	−$214M
2020	$9.66B	$46M	0.5%	$0.07	$0.58	668M	$2.75B	$1.9B	$855M
2019	$10.2B	$303M	3.0%	$0.45	$0.55	667M	$2.47B	$2.4B	$61M
2018	$10.7B	$1.2B	11.2%	$1.81	$0.53	665M	$2.34B	$2.12B	$222M
2017	$10.5B	−$1.16B	−11.0%	−$1.76	$0.49	660M	$2.5B	$2.18B	$327M
2016	$10.3B	−$1.13B	−11.0%	−$1.72	$0.45	660M	$2.9B	$2.35B	$552M
2015	$11.3B	$306M	2.7%	$0.44	$0.41	689M	$2.13B	$2.31B	−$174M
2014	$16.1B	$769M	4.8%	$1.06	$0.25	724M	$1.79B	$2.02B	−$225M
2013	$15.9B	$114M	0.7%	$0.15	$0.17	748M	$2.71B	$1.99B	$727M
2012	$17.2B	−$912M	−5.3%	−$1.21	$0.08	755M	$2.9B	$2.11B	$793M
2011	$16.1B	$58M	0.4%	$0.07	$0.00	783M	$2.88B	$2.43B	$454M
2010	$15.4B	$9.0M	0.1%	$0.01	$0.00	774M	$3.46B	$2.31B	$1.16B
2009	$13.1B	$658M	5.0%	$0.98	—	670M	$2.21B	$2.52B	−$309M
2008	—	$1.23B	—	$1.82	—	689M	$2.16B	$2.85B	−$690M
2007	—	−$95M	—	−$0.14	—	—	$2.35B	$2.42B	−$71M

Fiscal years, labelled by the year in which they end. US dollars; per-share figures and share counts adjusted for splits. —: not in the data.

About these figures

Older years are as filed at the time and may predate later restatements, mergers or spin-offs. How the figures are made.

Other Independent Power Producers & Energy Traders companies

NRG

NRG Energy

revenue $30.7B (2025)

All 31 Utilities companies

Source: SEC EDGAR (company filings), data as of November 8, 2026. Sectors, sub-industries, headquarters and index dates: Wikipedia, CC BY-SA 4.0.