What is AES's utilities — goodwill?

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

What does utilities — goodwill mean?

Represents the intangible asset value recorded when the utility segment acquires another business for a price higher than the fair market value of its net identifiable assets. This reflects the premium paid for brand reputation, customer relationships, and synergies within the utility operations.

AES (AES) Utilities — Goodwill

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Other segment segments

Renewables

$315M-0.9%

Energy Infrastructure

$27M0.0%

New Energy Technologies

$0—

Similar metrics at other companies

SOElectric Utilities — Goodwill

$2M—

UGIRegulated natural gas utilities — Goodwill

$432M0.0%

BRK.ARailroad Utilities And Energy — Goodwill

$27.01B-0.1%

VREXIndustrial — Goodwill

$118.2M—

VREXMedical — Goodwill

$173.5M—

DCGOCorporate — Goodwill

$0—

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, 2024	Renewables SBU	Utilities SBU	Energy Infrastructure SBU	New Energy Technologies SBU	Total
Goodwill	$353	$2,709	$683	—	$3,745
Accumulated impairment losses	(35)	(2,709)	(656)	—	(3,400)
Net balance	318	—	27	—	345
Goodwill derecognized during the year	(3)	—	—	—	(3)
Balance as of December 31, 2025
Goodwill	350	2,709	683	—	3,742
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 utilities — goodwill?: AES (AES) reported utilities — goodwill of $0 in Q4 2025.
What does utilities — goodwill mean?: Represents the intangible asset value recorded when the utility segment acquires another business for a price higher than the fair market value of its net identifiable assets. This reflects the premium paid for brand reputation, customer relationships, and synergies within the utility operations.