The AES Corporation Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	12,233	12,278	12,668	12,617	11,141
Revenue Growth (YoY)	-0.37%	-3.08%	0.40%	13.25%	15.33%
Cost of Revenue	10,022	9,964	10,164	10,069	8,430
Gross Profit	2,211	2,314	2,504	2,548	2,711
Selling, General & Admin	241	288	255	207	166
Total Operating Expenses	241	288	255	207	166
Operating Income	1,970	2,026	2,249	2,341	2,545
Interest Income	287	381	551	389	298
Interest Expense	-1,407	-1,485	-1,319	-1,117	-911
Other Non-Operating Income (Expense)	-775	-40	-1,365	-1,782	-2,996
Total Non-Operating Income (Expense)	-1,895	-1,144	-2,133	-2,510	-3,609
Pretax Income	75	894	104	-169	-1,064
Provision for Income Taxes	-181	59	261	265	133
Net Income	900	1,679	249	-546	-409
Minority Interest in Earnings	748	877	431	-41	542
Earnings From Discontinued Operations	-78	-14	14	-	8
Net Income to Common	900	1,679	249	-546	-409
Net Income Growth	-46.40%	574.30%	-	-	-
Shares Outstanding (Basic)	712	706	669	668	666
Shares Outstanding (Diluted)	714	713	712	668	666
Shares Change (YoY)	0.14%	0.14%	6.59%	0.30%	-0.30%
EPS (Basic)	1.26	2.38	0.37	-0.82	-0.61
EPS (Diluted)	1.26	2.36	0.35	-0.82	-0.61
EPS Growth	-46.61%	574.29%	-	-	-
Shares Outstanding	712.2	711.07	669.69	668.74	666.79
Free Cash Flow	-1,623	-4,640	-4,690	-1,836	-214
Free Cash Flow Per Share	-2.27	-6.51	-6.59	-2.75	-0.32
Dividends Per Share	0.704	0.694	0.670	0.640	0.610
Dividend Growth	1.49%	3.48%	4.74%	4.99%	5.01%
Gross Margin	18.07%	18.85%	19.77%	20.20%	24.33%
Operating Margin	16.10%	16.50%	17.75%	18.55%	22.84%
Profit Margin	1.19%	6.38%	-1.74%	-4.57%	-8.79%
FCF Margin	-13.27%	-37.79%	-37.02%	-14.55%	-1.92%
EBITDA	3,427	3,290	3,396	3,413	3,601
EBITDA Margin	28.01%	26.80%	26.81%	27.05%	32.32%
EBIT	1,970	2,026	2,249	2,341	2,545
EBIT Margin	16.10%	16.50%	17.75%	18.55%	22.84%
Effective Tax Rate	-241.33%	6.60%	250.96%	-156.81%	-12.50%

Updated Mar 2, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

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