AESAES Corporation
Item 1. - Business is an outline of our strategy and our businesses by SBU, including key financial drivers. 10-K, Item 1
- Employees
- 982,000
- Headquarters
- Arlington, VA
The biggest changes in the 10-K filed 2026-03-02, this fiscal year against the last, and the sentences in the MD&A (Item 7) where management explains them, quoted word for word. Tickdelta picks sentences that name the line, a direction and a cause. It does not write explanations of its own.
Cash from operations
+56.5% Big change FY to 2025-12-31 vs 2024-12-31The MD&A has no sentence that names a cause for this change. That can be worth a question: ask about the filing.
Net income
-45.8% Big change FY to 2025-12-31 vs 2024-12-31“Other income decreased $89 million, or 57%, to $67 million in 2025, compared to $156 million in 2024 primarily due to the prior year recognition of a $20 million bargain purchase gain on the Madison and Birdseye acquisition, a prior year gain of $14 million corresponding to the step acquisition of Felix, and a prior year indexation adjustment of Stabilization Fund receivables at AES Andes of $12 million, as well as a $10 million decrease in insurance proceeds and a $7 million decrease in AFUDC at our U.S. utilities in the current year.”
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“Net income attributable to The AES Corporation decreased $769 million, or 46%, to $910 million in 2025, compared to $1,679 million in 2024.”
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Gross margin
18.8% → 18.1% (-0.8 pts) FY to 2025-12-31 vs 2024-12-31The MD&A has no sentence that names a cause for this change. That can be worth a question: ask about the filing.
Revenue
-0.4% FY to 2025-12-31 vs 2024-12-31“Consolidated Revenue — Revenue decreased $45 million in 2025 compared to 2024, driven by:”
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“Cash proceeds from sales of business interests decreased $315 million, primarily due to proceeds of $412 million, net of transaction costs and cash sold, from the sale of AES Brasil in the prior year; partially offset by the current year sell-down of Dominican Republic Renewables for $103 million.”
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Changes are computed from the XBRL figures in the same 10-K. Hover a number to see the line item. Open the 10-K ↗
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