Capital Expenditures for AES (AES)
According to AES's latest reported financial statements, the company's current capital expenditures (TTM) is $5.93B USD. Capital expenditures (CapEx) are cash outlays for property, plant, and equipment and other long-lived productive assets — reported on the cash flow statement under investing activities. CapEx funds future capacity (factories, data centers, software, machinery), so rising spend can signal investment in growth, while heavy CapEx reduces free cash flow available to shareholders. We display CapEx as a positive amount (the absolute cash outflow); compare with revenue to gauge capital intensity and with total assets for the asset-base context.
Headline TTM above sums the four reported quarters through (reported ). Chart and table below cover the full reported history back to .
AES
Currently viewingCapital ExpendituresSwitch metric
Latest period
$5.93B
YoY change
-19.8%
5Y CAGR
+25.6%
Peak year (2023)
$7.72B
Cumulative capital expenditures
$74.43B
CapEx history chart for AES (AES) from 1994 to 2025
CapEx history table for AES (AES) from 1994 to 2025
| Fiscal year | Period ended | Reported | Capital Expenditures | YoY |
|---|---|---|---|---|
| 2025 | $5.93B | -19.8% | ||
| 2024 | $7.39B | -4.3% | ||
| 2023 | $7.72B | +69.7% | ||
| 2022 | $4.55B | +115.1% | ||
| 2021 | $2.12B | +11.4% | ||
| 2020 | $1.90B | -21.0% | ||
| 2019 | $2.40B | +13.4% | ||
| 2018 | $2.12B | -2.6% | ||
| 2017 | $2.18B | -7.2% | ||
| 2016 | $2.35B | +1.6% | ||
| 2015 | $2.31B | +14.5% | ||
| 2014 | $2.02B | +1.4% | ||
| 2013 | $1.99B | -11.1% | ||
| 2012 | $2.24B | -8.0% | ||
| 2011 | $2.43B | +5.2% | ||
| 2010 | $2.31B | -8.3% | ||
| 2009 | $2.52B | -11.3% | ||
| 2008 | $2.84B | +17.1% | ||
| 2007 | $2.42B | +66.1% | ||
| 2006 | $1.46B | +27.7% | ||
| 2005 | $1.14B | +28.1% | ||
| 2004 | $892.00M | -27.4% | ||
| 2003 | $1.23B | -42.0% | ||
| 2002 | $2.12B | -33.3% | ||
| 2001 | $3.17B | +47.6% | ||
| 2000 | $2.15B | +157.8% | ||
| 1999 | $834.00M | +61.3% | ||
| 1998 | $517.00M | +1.2% | ||
| 1997 | $511.00M | +1.0% | ||
| 1996 | $506.00M | +220.3% | ||
| 1995 | $158.00M | +1528.9% | ||
| 1994 | $9.70M | — |
CapEx values are taken from AES's reported cash flow statements (10-Q quarterly and 10-K annual filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the date the filing was reported; YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.
Analysis
2025's annual capital expenditures for AES (AES) came in at $5.93B – declined 19.8% year-over-year.
Over 2020–2025 (5 years), AES capital expenditures expanded at a +25.6% compound annual rate, with the latest reading among the more recent periods of the dataset.
Between 2023 and 2025, AES capital expenditures declined 23.2%, falling from $7.72B to $5.93B.
Across the available history, capital expenditures reached its high of $7.72B in 2023 and its low of $9.70M in 1994.
Among 8 Utilities peers, AES (AES) ranks 6th; the peer median for capital expenditures is $9.94B.
AES Capital Expenditures by Year
AES Capital Expenditures 2025: $5.93B
AES capital expenditures in 2025 was $5.93B, declined 19.8% below 2024.
AES Capital Expenditures 2024: $7.39B
AES capital expenditures in 2024 was $7.39B, edged down 4.3% below 2023.
AES Capital Expenditures 2023: $7.72B
AES capital expenditures in 2023 was $7.72B, surged 69.7% from 2022. This figure represents the highest annual value in the available history.
AES Capital Expenditures 2022: $4.55B
AES capital expenditures in 2022 was $4.55B, surged 115.1% from 2021.
AES Capital Expenditures 2021: $2.12B
AES capital expenditures in 2021 was $2.12B.
See more financial history for AES (AES).
Sector peers — CapEx
Companies in the same sector as AES, ranked by their latest capital expenditures.
| Company | Capital Expenditures | Sector |
|---|---|---|
| Duke Energy Corporation (DUK) | $14.02B | Utilities |
| The Southern Company (SO) | $13.39B | Utilities |
| Dominion Energy, Inc. (D) | $12.64B | Utilities |
| Sempra (SRE) | $10.61B | Utilities |
| NextEra Energy, Inc. (NEE) | $9.27B | Utilities |
| Constellation Energy Corporation (CEG) | $2.95B | Utilities |
| GE Vernova Inc. (GEV) | $1.28B | Utilities |
| American Electric Power Company, Inc. (AEP) | $130.00M | Utilities |
Frequently asked questions
What is AES's capital expenditures?
- Latest reported capital expenditures for AES (AES) is $5.93B (period ending December 31, 2025).
How has AES capital expenditures changed year-over-year?
- AES (AES) capital expenditures changed -19.8% year-over-year on the latest annual filing.
What is the long-term growth rate of AES capital expenditures?
- AES (AES) capital expenditures compound annual growth rate is +25.6% over the most recent 5 years available.
When did AES capital expenditures hit its highest annual value?
- AES capital expenditures reached its highest annual value of $7.72B in 2023.
What was AES capital expenditures in 2024?
- AES (AES) capital expenditures in 2024 was $7.39B.
What was AES capital expenditures in 2025?
- AES (AES) capital expenditures in 2025 was $5.93B.
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