What is AES's utilities — goodwill?

AES (AES) reported utilities — goodwill of $0 in Q4 2025.

What does utilities — goodwill mean?

The premium paid over fair value for acquired utility businesses.

How do you interpret utilities — goodwill?

An increase suggests recent acquisitions, while a decrease may indicate impairment or divestitures.

How does utilities — goodwill compare across companies?

Standard across utility peers; high levels relative to equity may indicate overpayment for past acquisitions.

AES AES Utilities — Goodwill

Other segment segments

Renewables

$315M-0.9%

Energy Infrastructure

$27M0.0%

New Energy Technologies

$0—

Similar metrics at other companies

WTRGWater — Goodwill

$66.77M+14.3%

ESElectric Distribution — Goodwill

$2.54B0.0%

HUBBUtility Solutions — Goodwill

$2.38B+27.1%

AWK

AWKRegulated Businesses — Goodwill

$7M—

NIElectric Operations — Goodwill

$0—

TRMBResources and Utilities — Goodwill

$216.4M-54.1%

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$10.43B+13.6%

P/E7.7×+0.6×

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 official record: AES’s 10-K, filed March 2, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is AES's utilities — goodwill?: AES (AES) reported utilities — goodwill of $0 in Q4 2025.
What does utilities — goodwill mean?: The premium paid over fair value for acquired utility businesses.
How do you interpret utilities — goodwill?: An increase suggests recent acquisitions, while a decrease may indicate impairment or divestitures.
How does utilities — goodwill compare across companies?: Standard across utility peers; high levels relative to equity may indicate overpayment for past acquisitions.