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AES AES VIET NAM — Income Tax Expense (Benefit)

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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:IncomeTaxExpenseBenefit.

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

Income from operations in certain countries is subject to reduced tax rates as a result of satisfying specific commitments regarding employment and capital investment. The Company's income tax benefits related to the tax status of these operations are estimated to be $26 million, $28 million, and $19 million for the years ended December 31, 2025, 2024, and 2023, respectively. The per share effect of these benefits after noncontrolling interests was $0.03, $0.03, and $0.02 for each of the years ended December 31, 2025, 2024, and 2023, respectively. Included in the Company's income tax benefits is the benefit related to our operations in Vietnam, which is estimated to be $17 million, $14 million, and $16 million for the years ended December 31, 2025, 2024, and 2023, respectively. The per share effect of these benefits related to our operations in Vietnam after noncontrolling interest was $0.01 for each of the years ended December 31, 2025, 2024, and 2023.

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FAQ

What is AES's VIET NAM — income tax expense (benefit)?
AES (AES) reported VIET NAM — income tax expense (benefit) of $4.25M in Q4 2025.
How has AES's VIET NAM — income tax expense (benefit) changed year-over-year?
AES's VIET NAM — income tax expense (benefit) increased by 21.4% year-over-year, from $3.5M to $4.25M.
What is the long-term trend for AES's VIET NAM — income tax expense (benefit)?
Over 4 years (2021 to 2025), AES's VIET NAM — income tax expense (benefit) has grown at a 1.5% compound annual growth rate (CAGR), from $16M to $17M.
What does VIET NAM — income tax expense (benefit) mean?
This metric represents the total income tax liability or credit recognized for the Vietnam segment during the reporting period. It reflects the impact of local tax jurisdictions, statutory rates, and specific tax incentives on the segment's bottom line. It is a key component in reconciling the segment's pre-tax earnings to its net contribution to the company's overall profitability.

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