What is AES's invested capital?

AES (AES) reported invested capital of $3.07B in Q4 2025.

How has AES's invested capital changed year-over-year?

AES's invested capital increased by 18.2% year-over-year, from $2.59B to $3.07B.

What is the long-term trend for AES's invested capital?

Over 5 years (2020 to 2025), AES's invested capital has grown at a 20.7% compound annual growth rate (CAGR), from $1.2B to $3.07B.

What does invested capital mean?

Total debt plus shareholders' equity minus cash, at the quarter end. The capital actually put to work in the operating business — the denominator of return on invested capital (ROIC).

AES AES Invested capital

Discontinued — last reported Q4 '25

Invested capital at other companies

EAT

Brinker InternationalEAT

27.6%+9.2pp

Molson Coors Beverage CompanyTAP

-13.1%-19.2pp

National Fuel GasNFG

13.8%—

Tetra TechTTEK

16.9%+8.8pp

Landstar SystemLSTR

21.3%-6.0pp

Rigetti Computing, Inc.RGTI

-24.7%-8.4pp

Other financials

Income statement

See full

Revenue$3.2B+8.7%

Gross profit$640.0M+45.1%

Net income$487.0M+959%

EPS (diluted)$0.68+871%

Balance sheet

See full

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

See full

Operating cash flow$1.2B+120%

CapEx$1.8B+40.8%

Free cash flow-$565.0M+20.3%

Valuation

See full

Market cap$10.43B+13.6%

P/E7.7×+0.6×

P/S0.8×+0.1×

Profitability

See full

Gross margin19.3%+1.7pp

Net margin10.8%+0.2pp

FCF margin-11.8%-4.4pp

Returns & leverage

See full

Return on equity34.3%-6.4pp

Debt / equity0.3×0.0×

Current ratio0.7×-0.1×

Where this comes from

Calculated from AES’s reported figures.

$1.2Btotal debt+$4.1Btotal stockholders equity−$2.2Bcash and equivalents=$3.07B

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

Ask your AI about AES's invested capital.

Connect your AI assistant and compare it to peers, right in your chat.

Connect your AI

Claude

Questions, answered.

What is AES's invested capital?: AES (AES) reported invested capital of $3.07B in Q4 2025.
How has AES's invested capital changed year-over-year?: AES's invested capital increased by 18.2% year-over-year, from $2.59B to $3.07B.
What is the long-term trend for AES's invested capital?: Over 5 years (2020 to 2025), AES's invested capital has grown at a 20.7% compound annual growth rate (CAGR), from $1.2B to $3.07B.
What does invested capital mean?: Total debt plus shareholders' equity minus cash, at the quarter end. The capital actually put to work in the operating business — the denominator of return on invested capital (ROIC).