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AES AES Energy Infrastructure — Goodwill

Other segment segments

Renewables
$315M-0.9%
New Energy Technologies
$0
Utilities
$0

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$31.68M0.0%
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IBMInfrastructure — Goodwill
$4.38B

Other financials

Income statement

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Revenue$3.2B+8.7%
Gross profit$640.0M+45.1%
Net income$487.0M+959%
EPS (diluted)$0.68+871%

Balance sheet

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Cash & equivalents$2.3B-9.6%
Total debt$1.2B+17.8%
Total equity$4.4B+27.5%
Total assets$52.8B+8.6%

Cash flow

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Operating cash flow$1.2B+120%
CapEx$1.8B+40.8%
Free cash flow-$565.0M+20.3%

Valuation

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Market cap$10.49B+14.7%
P/E7.8×-2.2×
P/S0.8×+0.1×

Profitability

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Gross margin19.3%+1.7pp
Net margin10.8%+0.2pp
FCF margin-11.8%-4.4pp

Returns & leverage

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Return on equity34.3%-6.4pp
Debt / equity0.3×0.0×
Current ratio0.7×-0.1×

Where this comes from

Reported directly by AES in its filing.

Tagged under the XBRL concept us-gaap:Goodwill.

The source filing: AES’s 10-K, filed March 2, 2026.

Filed
Mar 2, 2026, 4:19 PM EST
Fiscal year
FY2025
Accession
0000874761-26-000063
Balance as of December 31, 2024Renewables SBUUtilities SBUEnergy Infrastructure SBUNew Energy Technologies SBUTotal
Goodwill$353$2,709$683$3,745
Accumulated impairment losses(35)(2,709)(656)(3,400)
Net balance31827345
Goodwill derecognized during the year(3)(3)
Balance as of December 31, 2025
Goodwill3502,7096833,742
Accumulated impairment losses(35)(2,709)(656)(3,400)
Net balance$315$27$342

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FAQ

What is AES's energy infrastructure — goodwill?
AES (AES) reported energy infrastructure — goodwill of $27M in Q4 2025.
What does energy infrastructure — goodwill mean?
Represents the excess of the purchase price over the fair value of identifiable net assets acquired within the Energy Infrastructure business segment. This intangible asset reflects the premium paid for expected future economic benefits, such as market position and synergies, that cannot be individually identified and separately recognized.

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