The AES Corporation (AES)
NYSE: AES · Real-Time Price · USD
14.75
+0.02 (0.14%)
At close: Aug 27, 2026, 4:00 PM EDT
14.72
-0.03 (-0.20%)
After-hours: Aug 27, 2026, 4:41 PM EDT
The AES Corporation Cash Flow Statement
Financials in millions USD. Fiscal year is January - December.
Millions USD. Fiscal year is Jan - Dec.
Operating Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | 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 |
Net Income | 1,872 | 910 | 1,679 | 249 | -546 | -409 |
Depreciation & Amortization | 1,633 | 1,457 | 1,264 | 1,147 | 1,072 | 1,056 |
Loss (Gain) on Sale of Assets | -198 | -58 | -351 | -134 | 9 | 1,683 |
Loss (Gain) on Sale of Investments | -123 | -123 | 62 | 226 | - | -254 |
Asset Writedown | 597 | 460 | 312 | 853 | 1,715 | 1,575 |
Change in Accounts Receivable | -102 | 130 | -361 | 161 | -532 | -170 |
Change in Inventory | -1 | 6 | 86 | 306 | -417 | -93 |
Change in Accounts Payable | 297 | 215 | -40 | -132 | 470 | -251 |
Change in Income Taxes | -282 | -100 | -134 | -109 | -51 | -271 |
Change in Unearned Revenue | - | - | - | - | - | -314 |
Change in Other Net Operating Assets | 237 | -52 | 357 | 84 | 241 | -263 |
Other Operating Activities | -210 | 433 | -342 | 383 | 754 | -387 |
Operating Cash Flow | 5,032 | 4,306 | 2,752 | 3,034 | 2,715 | 1,902 |
Operating Cash Flow Growth | 40.01% | 56.47% | -9.29% | 11.75% | 42.74% | -30.96% |
Investing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | 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 |
Capital Expenditures | -6,752 | -5,929 | -7,392 | -7,724 | -4,551 | -2,116 |
Cash Acquisitions | -17 | -108 | -246 | -542 | -243 | -658 |
Divestitures | 336 | 108 | 423 | 254 | 1 | 95 |
Investment in Securities | 1 | -111 | -125 | 203 | -526 | -10 |
Other Investing Activities | -159 | -170 | -360 | -379 | -517 | -362 |
Investing Cash Flow | -6,591 | -6,210 | -7,700 | -8,188 | -5,836 | -3,051 |
Financing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | 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 |
Short-Term Debt Issued | - | 79 | - | - | - | - |
Long-Term Debt Issued | - | 10,531 | 15,492 | 13,024 | 11,412 | 4,453 |
Total Debt Issued | 11,333 | 10,610 | 15,492 | 13,024 | 11,412 | 4,453 |
Long-Term Debt Repaid | - | -10,045 | -10,703 | -9,280 | -7,860 | -4,458 |
Net Debt Issued (Repaid) | 1,869 | 565 | 4,789 | 3,744 | 3,552 | -5 |
Common Dividends Paid | -502 | -501 | -483 | -444 | -422 | -401 |
Other Financing Activities | 387 | 1,911 | 657 | 2,105 | 628 | 189 |
Financing Cash Flow | 1,754 | 1,975 | 4,963 | 5,405 | 3,758 | 797 |
Net Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | 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 |
Foreign Exchange Rate Adjustments | -26 | -27 | -63 | -270 | -56 | -46 |
Miscellaneous Cash Flow Adjustments | 13 | 79 | 97 | -78 | 22 | 55 |
Net Cash Flow | 182 | 123 | 49 | -97 | 603 | -343 |
Free Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | 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 |
Free Cash Flow | -1,720 | -1,623 | -4,640 | -4,690 | -1,836 | -214 |
Free Cash Flow Growth | - | - | - | - | - | - |
Free Cash Flow Margin | -13.18% | -13.27% | -37.79% | -37.02% | -14.55% | -1.92% |
Free Cash Flow Per Share | -2.40 | -2.27 | -6.51 | -6.59 | -2.75 | -0.32 |
Levered Free Cash Flow | -3,089 | -3,086 | -6,709 | -4,731 | -3,330 | -760.63 |
Unlevered Free Cash Flow | -2,193 | -2,207 | -5,781 | -3,907 | -2,632 | -191.25 |
Additional Metrics
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Jun '26 Jun 30, 2026 | 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 |
Cash Interest Paid | 1,232 | 1,210 | 1,268 | 1,317 | 928 | 815 |
Cash Income Tax Paid | 293 | 227 | 345 | 301 | 271 | 459 |
Change in Working Capital | 149 | 199 | -92 | 310 | -289 | -1,362 |