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AES AES Return on invested capital

Return on invested capital at other companies

Nextra Energy logo
Nextra EnergyNEE
5.8%-0.3pp
Duke Energy logo
Duke EnergyDUK
5.7%+0.2pp
Quanta Services logo
Quanta ServicesPWR
9.9%-0.2pp
CMS
CMS EnergyCMS
5.1%-0.5pp
Argan logo
ArganAGX
67.8%+24.2pp
Entergy logo
EntergyETR
6.5%+0.9pp

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

Calculated from AES’s reported figures.

Based on trailing twelve months.

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 return on invested capital?
AES (AES) reported return on invested capital of 117.4% in Q4 2024.
What is the long-term trend for AES's return on invested capital?
Over 3 years (2020 to 2024), AES's return on invested capital has grown at a 27.0% compound annual growth rate (CAGR), from 57.3% to 117.4%.
What does return on invested capital mean?
The after-tax return the business earns on all the capital — debt and equity — invested in it.
How do you interpret return on invested capital?
The cleanest measure of business quality: ROIC sustained above the cost of capital creates value, below it destroys value. Compare against WACC, not against zero.
How does return on invested capital compare across companies?
Highly comparable across companies as a quality screen. Sector-sensitive definitions of invested capital mean banks/insurers are best excluded.