The AES Corporation (AES) P/E Ratio History
UndervaluedTrading at 11.6x vs 5Y avg 36.6x · 40th percentile · Below historical baseline · Data 1994–2026
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P/E Ratio Analysis
As of June 21, 2026, The AES Corporation (AES) trades at a price-to-earnings ratio of 11.6x, with a stock price of $14.62 and trailing twelve-month earnings per share of $1.87.
The current P/E is 68% below its 5-year average of 36.6x. Over the past five years, AES's P/E has ranged from a low of 5.1x to a high of 335.7x, placing the current valuation at the 40th percentile of its historical range.
Compared to the Utilities sector median P/E of 19.0x, AES trades at a 39% discount to its sector peers. The sector includes 111 companies with P/E ratios ranging from 0.0x to 170.1x.
The PEG ratio of 0.15 (P/E divided by -47% EPS growth) suggests the stock may be undervalued relative to its earnings growth. Peter Lynch popularized the rule that a PEG below 1.0 indicates an attractive entry point.
Relative to the broader market, AES trades at a notable discount to the S&P 500 median P/E of 24.4x. Investors should consider the company's growth prospects, competitive position, and earnings quality when evaluating whether the current valuation is justified.
For a comprehensive intrinsic value estimate using discounted cash flow analysis, see our AES DCF Valuation Calculator →
Note: P/E ratio is just one valuation metric. It does not account for balance sheet strength, cash flow quality, or growth sustainability. Always conduct comprehensive due diligence before making investment decisions.
AES Cross-Benchmark Valuation
How does the current P/E compare to sector peers and the broader market?
AES P/E vs Peers
Independent power and renewables developers peers sorted by market cap
| Company | Market Cap | P/E Ratio | PEG Ratio | EPS Growth (1Y) |
|---|---|---|---|---|
| $28B | 33.7 | 2.38 | -20% | |
| $55B | 74.1 | 6.62 | -68% | |
| $15B | 15.4Lowest | 1.37 | +52% | |
| $181B | 26.4 | 1.52 | -2% | |
| $60B | 19.8 | - | +41% | |
| $97B | 19.6 | 0.66Best | +11% | |
| $105B | 23.7 | 4.06 | -2% | |
| $69B | 19.2 | 2.24 | +19% | |
| $47B | 16.7 | 2.62 | +12% | |
| $51B | 28.4 | 11.21 | +60%Best |
Lower P/E can signal a discount or weaker growth expectations; PEG adds growth context.
AES Historical P/E Data (1994–2026)
Quarterly P/E ratios calculated from closing price and TTM EPS
| Quarter | Period End | Price | TTM EPS | P/E Ratio | vs Avg |
|---|---|---|---|---|---|
| FY2026 Q1 | - | $14.09 | $1.88 | 7.5x | -80% |
| FY2025 Q4 | Dec 31 2025 | $14.34 | $1.27 | 11.3x | -69% |
| FY2025 Q3 | - | $13.16 | $1.60 | 8.2x | -78% |
| FY2025 Q2 | Jun 30 2025 | $10.52 | $1.42 | 7.4x | -80% |
| FY2025 Q1 | Mar 31 2025 | $12.42 | $1.97 | 6.3x | -83% |
| FY2024 Q4 | - | $12.87 | $2.50 | 5.1x | -86% |
| FY2024 Q3 | Sep 30 2024 | $20.06 | $1.56 | 12.9x | -65% |
| FY2024 Q2 | Jun 30 2024 | $17.57 | $1.17 | 15.0x | -59% |
| FY2024 Q1 | Mar 31 2024 | $17.93 | $0.71 | 25.3x | -31% |
| FY2023 Q4 | Dec 31 2023 | $19.25 | $0.32 | 60.2x | +64% |
| FY2021 Q3 | - | $22.83 | $0.77 | 29.6x | -19% |
| FY2020 Q4 | - | $23.50 | $0.07 | 335.7x | +815% |
| FY2020 Q2 | - | $14.49 | $0.30 | 48.3x | +32% |
| FY2020 Q1 | - | $13.60 | $0.44 | 30.9x | -16% |
| FY2019 Q4 | - | $19.90 | $0.45 | 44.2x | +20% |
| FY2019 Q3 | Sep 30 2019 | $16.34 | $0.76 | 21.5x | -41% |
| FY2019 Q2 | Jun 30 2019 | $16.76 | $0.59 | 28.4x | -23% |
| FY2019 Q1 | Mar 31 2019 | $18.08 | $1.01 | 17.9x | -51% |
| FY2018 Q4 | Dec 31 2018 | $14.46 | $1.81 | 8.0x | -78% |
| FY2018 Q3 | Sep 30 2018 | $14.00 | $1.62 | 8.6x | -76% |
| FY2018 Q2 | Jun 30 2018 | $13.41 | $1.70 | 7.9x | -79% |
| FY2018 Q1 | Mar 31 2018 | $11.37 | $1.34 | 8.5x | -77% |
| FY2017 Q4 | Dec 31 2017 | $10.83 | $0.27 | 40.1x | +9% |
| FY2016 Q1 | - | $11.80 | $0.42 | 28.1x | -23% |
| FY2015 Q4 | - | $9.57 | $0.43 | 22.3x | -39% |
| FY2015 Q3 | Sep 30 2015 | $9.79 | $0.85 | 11.5x | -69% |
| FY2015 Q2 | - | $13.26 | $1.26 | 10.5x | -71% |
| FY2015 Q1 | - | $12.85 | $1.34 | 9.6x | -74% |
| FY2014 Q4 | Dec 31 2014 | $13.77 | $1.06 | 13.0x | -65% |
| FY2014 Q3 | - | $14.18 | $0.77 | 18.4x | -50% |
| FY2014 Q2 | Jun 30 2014 | $15.55 | $0.19 | 81.8x | +123% |
| FY2014 Q1 | Mar 31 2014 | $14.28 | $0.23 | 62.1x | +69% |
| FY2013 Q4 | - | $14.51 | $0.42 | 34.5x | -6% |
| FY2013 Q3 | Sep 30 2013 | $13.29 | $0.42 | 31.6x | -14% |
| FY2012 Q2 | Jun 30 2012 | $12.83 | $0.45 | 28.5x | -22% |
| FY2012 Q1 | Mar 31 2012 | $13.07 | $0.49 | 26.7x | -27% |
| FY2011 Q4 | Dec 31 2011 | $11.84 | $0.33 | 35.9x | -2% |
| FY2011 Q3 | Sep 30 2011 | $9.76 | $0.33 | 29.6x | -19% |
| FY2011 Q2 | - | $12.74 | $0.64 | 19.9x | -46% |
| FY2011 Q1 | - | $13.00 | $0.60 | 21.7x | -41% |
| FY2010 Q4 | Dec 31 2010 | $12.18 | $0.59 | 20.6x | -44% |
| FY2010 Q3 | - | $11.35 | $0.59 | 19.2x | -48% |
| FY2010 Q2 | Jun 30 2010 | $9.24 | $0.73 | 12.7x | -66% |
| FY2010 Q1 | Mar 31 2010 | $11.00 | $1.00 | 11.0x | -70% |
| FY2009 Q4 | - | $13.31 | $1.06 | 12.6x | -66% |
| FY2009 Q3 | Sep 30 2009 | $14.82 | $1.06 | 14.0x | -62% |
| FY2009 Q2 | - | $11.61 | $1.00 | 11.6x | -68% |
| FY2009 Q1 | - | $5.81 | $1.86 | 3.1x | -91% |
| FY2008 Q4 | Dec 31 2008 | $8.24 | $1.87 | 4.4x | -88% |
| FY2008 Q3 | - | $11.69 | $1.87 | 6.3x | -83% |
| FY2008 Q2 | Jun 30 2008 | $19.21 | $1.80 | 10.7x | -71% |
| FY2008 Q1 | Mar 31 2008 | $16.67 | $0.86 | 19.4x | -47% |
| FY2006 Q4 | Dec 31 2006 | $22.04 | $0.28 | 78.7x | +114% |
| FY2006 Q3 | Sep 30 2006 | $20.39 | $0.28 | 72.8x | +98% |
| FY2006 Q2 | Jun 30 2006 | $18.45 | $1.15 | 16.0x | -56% |
| FY2006 Q1 | Mar 31 2006 | $17.06 | $1.02 | 16.7x | -54% |
| FY2005 Q4 | Dec 31 2005 | $15.83 | $0.69 | 22.9x | -37% |
| FY2005 Q3 | Sep 30 2005 | $16.43 | $0.69 | 23.8x | -35% |
| FY2005 Q2 | - | $16.38 | $0.46 | 35.6x | -3% |
| FY2005 Q1 | - | $16.38 | $0.44 | 37.2x | +1% |
| FY2004 Q4 | Dec 31 2004 | $13.67 | $0.33 | 41.4x | +13% |
| FY2004 Q3 | - | $9.99 | $0.33 | 30.3x | -18% |
| FY2004 Q2 | Jun 30 2004 | $9.93 | $0.31 | 32.0x | -13% |
| FY2003 Q4 | Dec 31 2003 | $9.44 | $0.06 | 157.3x | +329% |
| FY2003 Q3 | - | $7.42 | $0.06 | 123.7x | +237% |
| FY2001 Q4 | Dec 31 2001 | $16.35 | $0.42 | 38.9x | +6% |
| FY2001 Q3 | Sep 30 2001 | $12.82 | $0.42 | 30.5x | -17% |
| FY2001 Q2 | Jun 30 2001 | $43.05 | $0.70 | 61.5x | +68% |
| FY2001 Q1 | Mar 31 2001 | $49.96 | $0.77 | 64.9x | +77% |
| FY2000 Q4 | Dec 31 2000 | $55.38 | $1.13 | 49.0x | +34% |
| FY2000 Q3 | Sep 30 2000 | $68.50 | $1.13 | 60.6x | +65% |
| FY2000 Q2 | Jun 30 2000 | $45.63 | $0.99 | 46.1x | +26% |
| FY2000 Q1 | Mar 31 2000 | $39.38 | $0.89 | 44.2x | +21% |
| FY1999 Q4 | Dec 31 1999 | $37.38 | $0.29 | 128.9x | +251% |
| FY1999 Q3 | - | $29.50 | $0.29 | 101.7x | +177% |
| FY1999 Q2 | Jun 30 1999 | $29.06 | $0.37 | 78.5x | +114% |
| FY1999 Q1 | Mar 31 1999 | $18.63 | $0.39 | 47.8x | +30% |
| FY1998 Q4 | - | $23.69 | $0.62 | 38.2x | +4% |
| FY1998 Q3 | Sep 30 1998 | $18.53 | $0.62 | 29.9x | -19% |
| FY1998 Q2 | - | $26.28 | $0.52 | 50.5x | +38% |
| FY1998 Q1 | - | $26.22 | $0.45 | 58.3x | +59% |
| FY1997 Q4 | Dec 31 1997 | $23.31 | $0.39 | 59.8x | +63% |
| FY1997 Q3 | - | $21.88 | $0.39 | 56.1x | +53% |
| FY1997 Q2 | Jun 30 1997 | $17.69 | $0.37 | 47.8x | +30% |
| FY1997 Q1 | Mar 31 1997 | $14.00 | $0.34 | 41.2x | +12% |
| FY1996 Q4 | - | $11.63 | $0.31 | 37.5x | +2% |
| FY1996 Q3 | Sep 30 1996 | $9.84 | $0.31 | 31.7x | -14% |
| FY1996 Q2 | Jun 30 1996 | $7.06 | $0.29 | 24.3x | -34% |
| FY1996 Q1 | Mar 31 1996 | $6.22 | $0.28 | 22.2x | -39% |
| FY1995 Q4 | Dec 31 1995 | $5.97 | $0.27 | 22.1x | -40% |
| FY1995 Q3 | Sep 30 1995 | $4.75 | $0.27 | 17.6x | -52% |
| FY1995 Q2 | Jun 30 1995 | $4.75 | $0.27 | 17.6x | -52% |
| FY1995 Q1 | Mar 31 1995 | $4.44 | $0.27 | 16.4x | -55% |
| FY1994 Q4 | Dec 31 1994 | $4.88 | $0.28 | 17.4x | -53% |
Average P/E for displayed period: 36.7x
Full Stock Analysis
Deep dive into AES consensus models and risk factors.
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
32+ years return with dividends reinvested.
DCA Calculator
See how regular investing compounds over time.
Peer Comparison
Compare growth, multiples, and margins vs sector.
AES — Frequently Asked Questions
Quick answers to the most common questions about buying AES stock.
What is AES's P/E ratio?
The AES Corporation (AES) trailing twelve-month P/E ratio is 11.6x, based on TTM diluted EPS of $1.87. The 5-year average P/E is 36.6x and the historical range spans 5.1x to 335.7x.
Is AES stock overvalued or undervalued?
AES trades at 11.6x P/E, below its 5-year average of 36.6x. At the 40th percentile of its historical range (5.1x–335.7x), the stock is priced at a discount to its own history.
Is AES stock expensive?
No, AES is not expensive on a historical basis. The current P/E of 11.6x is below the 5-year average of 36.6x and sits at the 40th percentile of its valuation range.
What is AES's historical P/E range?
Over the past 5 years, AES's P/E ratio has ranged from 5.1x to 335.7x, with a median of 17.9x and an average of 36.6x. The current P/E of 11.6x places the stock at the 40th percentile of this range. Full historical data spans 1994–2026.
How does AES's P/E compare to the S&P 500?
AES trades at 11.6x P/E versus the S&P 500 median of 24.4x. The 52% discount to the market suggests lower growth expectations or perceived higher risk.
How does AES's valuation compare to Utilities peers?
The AES Corporation P/E of 11.6x compares to the Utilities sector median of 19.0x. The discount suggests lower growth expectations, weaker margins, or higher perceived risk relative to peers. See the peer comparison table on this page for ticker-by-ticker P/E and PEG.
What is AES's PEG ratio?
AES PEG ratio is 0.15, based on a P/E of 11.6x and EPS growth of -46.6%. A PEG below 1.0 indicates the valuation is supported by the earnings growth rate — typically considered attractive.
What is AES's earnings yield?
AES earnings yield is 8.62%, the inverse of its 11.6x P/E ratio. Earnings yield represents the percentage of each dollar invested that the company earns. It can be compared directly to bond yields to assess relative attractiveness of stocks versus fixed income.