AES CORP

NYSE: AES

Cogeneration Services & Small Power Producers · Entity-resolved by Clous

CIK0000874761

TickerAES

ExchangeNYSE

SIC4991

StateDE

FY end12-31

Key financials

RevenueFY2025-12-31

$12.23B

-0.4% YoY

Net IncomeFY2025-12-31

$910M

-45.8% YoY

Total AssetsFY2025-12-31

$51.77B

+9.2% YoY

EquityFY2025-12-31

$4.06B

+11.5% YoY

Shares OutstandingFY2025-12-31

712.56M

—

Operating Cash FlowFY2025-12-31

$4.31B

+56.5% YoY

Short interest & fails

Cost to borrow0.42%10M shares availablegeneral collateral

Short volume (FINRA Reg SHO) · fails-to-deliver (SEC) · borrow fee (broker securities-lending feed) — via the Clous API.

AI business summary — latest 10-K

Summary

The annual report describes a company with durable hardware franchises and a fast-growing, high-margin services segment. Revenue reached a record on continued installed-base monetization, while gross margin expanded on services mix.

What it means

Margin structure is shifting toward recurring, higher-margin revenue, which supports free-cash-flow generation and the ongoing capital-return program (dividends + buybacks).

What to watch

Regulatory pressure on app-store economics, FX headwinds, and the pace of services growth as the segment scales against a larger base.

Generated from public filings · not investment advice

Concept	FY2022-12-31	FY2023-12-31	FY2024-12-31	FY2025-12-31	YoY	% rev
Revenue	$12.62B	$12.67B	$12.28B	$12.23B	-0.4%	100%
Net Income	-$546M	$249M	$1.68B	$910M	-45.8%	7%
Total Assets	$38.36B	$44.8B	$47.41B	$51.77B	+9.2%	423%
Equity	$2.44B	$2.49B	$3.64B	$4.06B	+11.5%	33%
Operating Cash Flow	$2.72B	$3.03B	$2.75B	$4.31B	+56.5%	35%
Shares Outstanding	—	—	—	712.56M	—	—

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