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AES AES Debt-to-equity

Debt-to-equity at other companies

Nextra Energy logo
Nextra EnergyNEE
1.8×0.0×
Duke Energy logo
Duke EnergyDUK
1.6×0.0×
Quanta Services logo
Quanta ServicesPWR
0.7×+0.1×
Argan logo
ArganAGX
0.0×
CMS
CMS EnergyCMS
0.0×
American Electric Power logo
American Electric PowerAEP
1.6×

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
Current ratio0.7×-0.1×

Where this comes from

Calculated from AES’s reported figures.

Based on the most recent quarter.

The official record: AES’s 10-Q, filed May 5, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is AES's debt-to-equity?
AES (AES) reported debt-to-equity of 0.3× in Q4 2025.
How has AES's debt-to-equity changed year-over-year?
AES's debt-to-equity increased by 5.6% year-over-year, from 0.3× to 0.3×.
What is the long-term trend for AES's debt-to-equity?
Over 5 years (2020 to 2025), AES's debt-to-equity has grown at a 14.1% compound annual growth rate (CAGR), from 0.1× to 0.3×.
What does debt-to-equity mean?
How much debt the company carries for every dollar of shareholder equity.
How do you interpret debt-to-equity?
Lower is generally safer, but moderate leverage can boost returns. Read in the context of cash-flow stability — a utility tolerates more debt than a cyclical. Negative equity makes the ratio meaningless and it is suppressed there.
How does debt-to-equity compare across companies?
Comparable within an industry; capital structures differ sharply across sectors. Not meaningful for banks.