AES vs SRE: The AES and Sempra Energy compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Sempra Energy is the larger company, worth $52.3B, about 4.9 times The AES.
- The AES grew revenue faster over the last year (+19.9% vs -3.9%).
- On earnings, The AES is the cheaper stock (7.8x vs 27.2x).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | AES | SRE |
|---|---|---|
| Market cap | $10.7B | $52.3B |
| Share price | $14.94 | $81.34 |
| Revenue (last fiscal year) | $12.2B | $13.7B |
| Free cash flow (last fiscal year) | -$1.6B | -$6.0B |
| Revenue growth, last year | +19.9% | -3.9% |
| Revenue growth per year, last 5 fiscal years | +2.4% | +1.6% |
| Operating margin | — | — |
| Net margin | 14.3% | 14.4% |
| Return on equity | 37.9% | 6.1% |
| P/E (trailing) | 7.80x | 27.2x |
| Price / free cash flow | — | — |
| EV / EBITDA | 10.2x | 16.3x |
| FCF growth the price implies | — | — |
| Dividend yield | 4.7% | 3.2% |
| Debt / equity | 9.00x | 2.30x |
| Fundamental grade | C | D |
| Superinvestors holding it | 3 | 4 |
| Insider purchases, last 12 months | 0 | 5 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
The AES
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $11.1B | -$214M | — |
| 2022 | $12.6B | -$1.8B | — |
| 2023 | $12.7B | -$4.7B | — |
| 2024 | $12.3B | -$4.6B | — |
| 2025 | $12.2B | -$1.6B | — |
Sempra Energy
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $12.9B | -$1.2B | — |
| 2022 | $14.4B | -$4.2B | — |
| 2023 | $16.7B | -$2.2B | — |
| 2024 | $13.2B | -$3.3B | — |
| 2025 | $13.7B | -$6.0B | — |
Where the revenue comes from
The AES · by segments, 2025
Energy Infrastructure$5.4B43%
Utilities$4.1B33%
Renewables$2.9B23%
Corporate and Other$149M1%
New Energy Technologies$1M0%
Sempra Energy · by segments, 2025
Sempra California$11.5B92%
Sempra Infrastructure$1.1B8%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open AES in InvestinglyQuestions
Which is bigger, The AES or Sempra Energy?
Sempra Energy (SRE), at $52.3B against $10.7B.
Is AES or SRE cheaper?
By trailing P/E, The AES (7.80x) is cheaper than Sempra Energy (27.2x). A lower multiple can also mean the market expects less growth.
Which grows faster, AES or SRE?
The AES: revenue grew +19.9% over the last year, against -3.9%.
More comparisons
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.