AES NYSE
The AES Corporation
1W: +0.4%
1M: +1.1%
3M: +2.7%
YTD: +5.2%
1Y: +8.5%
3Y: +26.0%
5Y: -23.8%
$15.03
+0.01 (+0.03%)
Weekly Expected Move ±0.3%
$15
$15
$15
$15
$15
Credit Risk of going bust: higher than 55% of companies Debt: 75.0% of company value Bonds: none of note held by US funds details ▾
Of US companies ranked in the middle of the pack, about 1 in 580 filed for bankruptcy within a year (2020-2025).
If the stock fell to about $1.62 (down 89%), The AES Corporation would be worth roughly what it owes.
Total debt $32.12B against a stock market value of $10.72B.
Distance to default 4.63 (Merton model): prices to 2026-10-27, balance sheet 2026-06-30, debt counted $17.79B (short-term plus half of long-term), stock volatility 27.0%; Altman Z'' 0.24. A ranking and a back-test, not a forecast.
US fund filings (SEC N-PORT) show under $25M of this company's bonds, so there is no bond page. Its debt may be bank loans or privately placed. How these are computed.
If the stock fell to about $1.62 (down 89%), The AES Corporation would be worth roughly what it owes.
Total debt $32.12B against a stock market value of $10.72B.
Distance to default 4.63 (Merton model): prices to 2026-10-27, balance sheet 2026-06-30, debt counted $17.79B (short-term plus half of long-term), stock volatility 27.0%; Altman Z'' 0.24. A ranking and a back-test, not a forecast.
US fund filings (SEC N-PORT) show under $25M of this company's bonds, so there is no bond page. Its debt may be bank loans or privately placed. How these are computed.
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Income Statement
Cash Flow
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Cash Flow Trends
Operating Cash Flow
$4.3B
+56.5% ▲
5Y CAGR: +9.3%
Capital Expenditures
$5.9B
+19.8% ▲
5Y CAGR: +25.6%
Free Cash Flow
-$1.6B
+65.0% ▲
Dividends Paid
$501M
-3.7% ▼
Buybacks
$0
+0.0% ▲
Net Change in Cash
$112M
-32.1% ▼
Cash Flow Composition
Year-over-Year Growth
View Full Cash Flow Statement
| Line Item | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| — Operating Activities — | |||||
| Net Income | -$413M | -$546M | $242M | $1.7B | $939M |
| Depreciation & Amort. | $1.1B | $1.1B | $1.1B | $1.3B | $1.5B |
| Stock-Based Comp. | $0 | $0 | $0 | $0 | $0 |
| Change in Working Capital | -$1.4B | -$289M | $310M | -$92M | $199M |
| Other Non-Cash Items | $3.0B | $2.5B | $1.4B | -$217M | $1.6B |
| Operating Cash Flow | $1.9B | $2.7B | $3.0B | $2.8B | $4.3B |
| — Investing Activities — | |||||
| Capital Expenditures | -$2.1B | -$4.6B | -$7.7B | -$7.4B | -$5.9B |
| Acquisitions (Net) | -$507M | -$102M | $1.6B | $1.6B | $2.4B |
| Investment Purchases | -$946M | -$1.7B | -$1.1B | -$921M | -$204M |
| Investment Sales | $616M | $1.0B | $1.3B | $796M | $93M |
| Other Investing | -$42M | -$368M | -$379M | -$360M | -$170M |
| Investing Cash Flow | -$3.0B | -$5.7B | -$6.3B | -$6.2B | -$3.8B |
| — Financing Activities — | |||||
| Net Debt Issuance | -$37M | $4.0B | $4.0B | $4.6B | $130M |
| Stock Repurchased | $0 | $0 | $0 | $0 | $0 |
| Dividends Paid | -$401M | -$422M | -$444M | -$483M | -$501M |
| Other Financing | $12M | -$62M | -$454M | -$666M | -$1.0B |
| Financing Cash Flow | $741M | $3.6B | $3.5B | $3.5B | -$403M |
| Net Change in Cash | -$139M | $663M | -$114M | $165M | $112M |
| Cash End of Period | $1.2B | $1.9B | $1.8B | $2.0B | $2.1B |
| Free Cash Flow | -$214M | -$1.8B | -$4.7B | -$4.6B | -$1.6B |