The AES (AES) revenue breakdown
By segment, Energy Infrastructure is the largest at 43% of fiscal 2025 revenue; Renewables grew fastest, 17% a year over 4 years.
By product, Electricity, Generation is the largest at 67% of fiscal 2025 revenue; Electric Distribution grew fastest, 5% a year over 7 years.
Revenue by segment
Fiscal years, as The AES reports them in its 10-K filings; fiscal 2025 total $12.6B.
| Segments | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Share |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Energy Infrastructure | — | — | — | — | — | $6.7B | $7.2B | $6.8B | $6.2B | $5.4B | 43% |
| Utilities | — | — | — | — | — | $2.9B | $3.6B | $3.5B | $3.6B | $4.1B | 33% |
| Renewables | — | — | — | — | — | $1.6B | $1.9B | $2.4B | $2.6B | $2.9B | 23% |
| Corporate and Other | — | — | — | — | — | — | — | — | $162M | $149M | 1% |
| New Energy Technologies | — | — | — | — | — | — | $3M | $76M | $1M | $1M | 0% |
| Eliminations | — | — | — | — | — | — | — | -$262M | — | — | — |
| US and Utilities SBU | $4.3B | $4.2B | $4.2B | $4.1B | $3.9B | — | — | — | — | — | — |
| South America | $3.0B | $3.3B | $3.5B | $3.2B | $3.2B | — | — | — | — | — | — |
| MCAC | $1.3B | $1.5B | $1.7B | $1.9B | $1.8B | — | — | — | — | — | — |
| EURASIA | $1.7B | $1.6B | $1.3B | $1.0B | $828M | — | — | — | — | — | — |
| New Energy Technologies | — | — | — | — | — | $7M | — | — | — | — | — |
| Corporate and Other | — | — | -$10M | -$6M | -$11M | — | — | — | — | — | — |
| Eliminations | — | — | — | — | — | — | -$216M | — | — | — | — |
Revenue by product
Fiscal years, as The AES reports them in its 10-K filings; fiscal 2025 total $12.2B.
| Products | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Share |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Electricity, Generation | — | — | $7.8B | $7.2B | $7.0B | $8.3B | $9.1B | $9.2B | $8.8B | $8.2B | 67% |
| Electric Distribution | — | — | $2.9B | $3.0B | $2.7B | $2.9B | $3.5B | $3.4B | $3.5B | $4.0B | 33% |
| Electricity, Generation | — | $7.4B | — | — | — | — | — | — | — | — | — |
| Electricity, Generation | $7.0B | — | — | — | — | — | — | — | — | — | — |
| Electric Distribution | $3.3B | — | — | — | — | — | — | — | — | — | — |
| Electric Distribution | — | $3.1B | — | — | — | — | — | — | — | — | — |
Revenue by region
Fiscal years, as The AES reports them in its 10-K filings; fiscal 2025 total $12.2B.
| Regions | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Share |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Non-U.S. | $6.5B | $7.0B | $7.3B | $7.0B | $6.4B | $7.6B | $8.5B | $8.2B | $7.6B | $7.2B | 59% |
| UNITED STATES | $3.8B | $3.5B | $3.5B | $3.2B | $3.2B | $3.5B | $4.1B | $4.4B | $4.7B | $5.1B | 41% |
Questions
Where does The AES make its money?
In fiscal 2025, by segment: Energy Infrastructure $5.4B, Utilities $4.1B, Renewables $2.9B, Corporate and Other $149M, New Energy Technologies $1M.
From The AES's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.