TTM
-11.8%
YoY change
+24.52pp
Trough year (1996)
-38.8%
Peak year (1994)
28.9%
Latest annual
-13.3%
FCF Margin history chart for AES (AES) from 1994 to 2025
Latest: -13.3%
FCF Margin change chart for AES (AES) from 1994 to 2025
Latest: +24.52pp
FCF Margin history table for AES (AES) from 1994 to 2025
| 2025 | -13.3% | +24.52pp | ||
| 2024 | -37.8% | -0.79pp | ||
| 2023 | -37.0% | -22.45pp | ||
| 2022 | -14.6% | -12.63pp | ||
| 2021 | -1.9% | -10.77pp | ||
| 2020 | 8.9% | +8.25pp | ||
| 2019 | 0.6% | -1.47pp | ||
| 2018 | 2.1% | -0.90pp | ||
| 2017 | 3.0% | -2.33pp | ||
| 2016 | 5.3% | +6.53pp | ||
| 2015 | -1.2% | +0.08pp | ||
| 2014 | -1.3% | -5.89pp | ||
| 2013 | 4.6% | +0.91pp | ||
| 2012 | 3.7% | +1.05pp | ||
| 2011 | 2.6% | -4.63pp | ||
| 2010 | 7.2% | +9.45pp | ||
| 2009 | -2.2% | +2.00pp | ||
| 2008 | -4.2% | -3.70pp | ||
| 2007 | -0.5% | -8.72pp | ||
| 2006 | 8.2% | -1.76pp | ||
| 2005 | 10.0% | +2.73pp | ||
| 2004 | 7.2% | +2.83pp | ||
| 2003 | 4.4% | +12.65pp | ||
| 2002 | -8.2% | +15.29pp | ||
| 2001 | -23.5% | +3.72pp | ||
| 2000 | -27.2% | -7.67pp | ||
| 1999 | -19.6% | -20.04pp | ||
| 1998 | 0.5% | +23.00pp | ||
| 1997 | -22.5% | +16.27pp | ||
| 1996 | -38.8% | -44.55pp | ||
| 1995 | 5.7% | -23.11pp | ||
| 1994 | 28.9% | — |
- 2025-13.3%+24.52pp
- 2024-37.8%-0.79pp
- 2023-37.0%-22.45pp
- 2022-14.6%-12.63pp
- 2021-1.9%-10.77pp
- 20208.9%+8.25pp
- 20190.6%-1.47pp
- 20182.1%-0.90pp
- 20173.0%-2.33pp
- 20165.3%+6.53pp
- 2015-1.2%+0.08pp
- 2014-1.3%-5.89pp
- 20134.6%+0.91pp
- 20123.7%+1.05pp
- 20112.6%-4.63pp
- 20107.2%+9.45pp
- 2009-2.2%+2.00pp
- 2008-4.2%-3.70pp
- 2007-0.5%-8.72pp
- 20068.2%-1.76pp
- 200510.0%+2.73pp
- 20047.2%+2.83pp
- 20034.4%+12.65pp
- 2002-8.2%+15.29pp
- 2001-23.5%+3.72pp
- 2000-27.2%-7.67pp
- 1999-19.6%-20.04pp
- 19980.5%+23.00pp
- 1997-22.5%+16.27pp
- 1996-38.8%-44.55pp
- 19955.7%-23.11pp
- 199428.9%—
FCF Margin values are taken from AES's reported income statements (quarterly 10-Q and annual 10-K filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the filing date. YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.
About FCF Margin at AES (AES)
According to AES's latest reported financial statements, the company's latest reported free cash flow margin is -11.8%. Free cash flow margin is free cash flow divided by revenue — the share of each sales dollar that converts into cash after capital expenditures. Because free cash flow cannot be inflated by non-cash accounting, FCF margin is a clean read on how efficiently a business turns revenue into deployable cash.
Headline figure above is from the reporting period ending (reported ). Chart and table below cover the full reported history back to .
The 2025 reading of AES (AES) free cash flow margin is -13.27% – expanded 24.5 percentage points year-over-year.
28.86% stands as the all-time-high annual free cash flow margin, posted in 1994, against a low of -38.80% during 1996.
AES FCF Margin by Year
AES FCF Margin 2025: -13.3%
AES posted free cash flow margin of -13.27% in 2025, expanded 24.5 percentage points from 2024.
AES FCF Margin 2024: -37.8%
In 2024, AES reported free cash flow margin of -37.79%, contracted 0.8 percentage points from 2023.
AES FCF Margin 2023: -37.0%
AES free cash flow margin in 2023 was -37.00%, contracted 22.4 percentage points from 2022.
AES FCF Margin 2022: -14.6%
2022's free cash flow margin for AES came in at -14.55%, contracted 12.6 percentage points from 2021.
AES FCF Margin 2021: -1.9%
AES free cash flow margin in 2021 was -1.92%.
See more financial history for AES (AES).
Sector peers by FCF Margin
Utilities peers of AES (AES), ranked by their latest free cash flow margin
Frequently asked questions
AES (AES) Key Financials
Charts, filings, and peer comparison for every metric
Explore more
Deep-dives across the income statement, cash flow, capital return, and valuation