The AES Corporation (AES) Revenue History
Annual and quarterly revenue from 2014 to 2025
Compound Annual Growth Rate (CAGR)
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AES Revenue Growth
Revenue Breakdown (FY 2025)
AES's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
By Geography
AES Revenue Analysis (2014–2025)
As of May 6, 2026, The AES Corporation (AES) generated trailing twelve-month (TTM) revenue of $12.49 billion, reflecting solid growth of +8.7% year-over-year. The most recent quarter (Q1 2026) recorded $3.18 billion in revenue, up 2.5% sequentially.
Looking at the longer-term picture, AES's 5-year compound annual growth rate (CAGR) stands at +4.8%, indicating moderate growth over time. The company achieved its highest annual revenue of $17.11 billion in 2014.
Revenue diversification analysis shows AES's business is primarily driven by Utilities (100%). With over half of revenue concentrated in Utilities, the company maintains significant focus in this area while developing other growth vectors.
When compared to Utilities sector peers including NRG (+9.2% YoY), VST (-13.7% YoY), and GEN (+20.1% YoY), AES has underperformed the peer group in terms of revenue growth. Compare AES vs NRG →
AES Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| AESCurrent | $12.5B | +8.7% | +4.8% | 16.1% | |
 NRG | $30.7B | +9.2% | +27.6% | 6.0% | |
 VST | $17.0B | -13.7% | +8.9% | 7.9% | |
 GEN | $3.9B | +20.1% | +9.6% | 40.9% | |
 NEE | $27.5B | +10.5% | +8.8% | 30.1% | |
 D | $16.5B | +17.1% | +3.1% | 26.7% |
AES Historical Revenue Data (2014–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $12.23B | -0.4% | $2.21B | 18.1% | $1.97B | 16.1% |
| 2024 | $12.28B | -3.1% | $2.32B | 18.9% | $2.03B | 16.5% |
| 2023 | $12.68B | +0.5% | $2.52B | 19.8% | $2.26B | 17.8% |
| 2022 | $12.62B | +13.2% | $2.55B | 20.2% | $2.34B | 18.6% |
| 2021 | $11.14B | +15.3% | $2.71B | 24.3% | $2.55B | 22.9% |
| 2020 | $9.66B | -5.2% | $2.69B | 27.9% | $2.53B | 26.2% |
| 2019 | $10.19B | -5.1% | $2.36B | 23.2% | $2.17B | 21.3% |
| 2018 | $10.74B | +2.3% | $2.58B | 24.0% | $2.39B | 22.2% |
| 2017 | $10.51B | +3.3% | $2.45B | 23.3% | $2.24B | 21.3% |
| 2016 | $10.17B | -27.9% | $2.33B | 22.9% | $2.13B | 21.0% |
Full AES Stock Analysis
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Start ComparisonAES — Frequently Asked Questions
Quick answers to the most common questions about buying AES stock.
Is AES's revenue growth accelerating or slowing?
AES maintains +8.7% revenue growth, in line with its 5-year CAGR of +4.8%. TTM revenue stands at $12.5B. Growth rate remains consistent with historical average.
What is AES's long-term revenue growth rate?
The AES Corporation's 5-year revenue CAGR of +4.8% reflects the sustained expansion pattern. Current YoY growth of +8.7% is near this long-term average.
How is AES's revenue distributed by segment?
AES reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2014-2025 are available for download. Segment mix reveals concentration and diversification trends.