---
title: AES (AES) — intrinsic value and fair price
canonical: https://sweetvaluelab.com/stocks/aes
ticker: AES
as_of: 2026-10-17
sector: Utilities
industry: Diversified Utilities
---
# AES (AES)

AES (AES) closed at $14.95 on Oct 16, 2026, undervalued by 28% vs its model value of $20.87 (from its own five-year median P/E applied to its earnings).

## Key figures

| Figure | Value |
| --- | ---: |
| Last close | $14.95 (Oct 16, 2026) |
| Model value (from its own five-year median P/E applied to its earnings) | $20.87 |
| Price vs model | undervalued by 28% vs model |
| Range of that model | $10.32 – $87.14 |
| Market value | $10.7B |
| P/E (fiscal 2025) | 11.9 |
| Net margin (fiscal 2025) | 7.8% |
| Free cash flow (fiscal 2025) | -$1.6B |
| Dividend yield (trailing twelve months) | 4.71% |
| Beta | 0.95 |
| Cost of capital (WACC) | 9.10% |
| Business classification | Dividend Payer (Revenue declining (~-2% recent), Moderate margins (7% net margin), Strong dividend yield, Highly cyclical earnings, Negative free cash flow) |

## On the stock lists

| List | Place | Figure | Page |
| --- | ---: | ---: | --- |
| Highest dividend yield | #33 | 4.71% | https://sweetvaluelab.com/lists/highest-dividend-yield |
| Lowest P/E | #32 | 11.9× | https://sweetvaluelab.com/lists/lowest-pe |

## Dividends

| Figure | Value |
| --- | ---: |
| Trailing dividend yield | 4.71% |
| Dividends per share, last 12 months | $0.70 |
| Coverage | — |
| Raised | 12 years in a row |
| Growth over 5 years | 3.4% a year |
| Latest payment | $0.1760, ex-date Jul 31, 2026, paid Aug 14, 2026 |

| Year of payments | Dividends per share |
| --- | ---: |
| To Jul 30, 2021 | $0.59 |
| To Jul 29, 2022 | $0.62 |
| To Jul 31, 2023 | $0.66 |
| To Aug 1, 2024 | $0.68 |
| To Aug 1, 2025 | $0.70 |
| Trailing twelve months (to Jul 31, 2026) | $0.70 |

## Valuation models

Each model's value per share and the role the engine gave it for this business. The headline above is one model's value; every other model is listed with its own, and each has a page of its own under the valuation. Computed Oct 17, 2026.

| Model | Role | Value per share | Low | High |
| --- | --- | ---: | ---: | ---: |
| DCF · Perpetuity growth · 5y | cross check | $16.64 | $13.36 | $25.12 |
| DCF · Perpetuity growth · 10y | cross check | $14.53 | $12.30 | $20.01 |
| DCF · EBITDA exit · 5y | cross check | $101.32 | $68.17 | $140.43 |
| DCF · EBITDA exit · 10y | cross check | $75.53 | $48.32 | $112.26 |
| P/E · peers | cross check | $31.76 | $27.00 | $36.43 |
| P/E · own history | primary | $20.87 | $10.32 | $87.14 |
| PEG | sanity check | $61.45 | $61.45 | $61.45 |
| EV/EBITDA · peers | cross check | $0.00 | $0.00 | $0.00 |
| EV/Revenue · peers | cross check | $83.74 | $65.21 | $98.24 |
| Earnings power value | cross check | $0.00 | $0.00 | $0.00 |
| Dividend discount | cross check | $12.94 | $9.10 | $20.36 |

## Insider activity (SEC Form 4)

No open-market insider buys or sales filed in the past 90 days.

| Date | Insider | Relationship | Transaction | Shares | Value |
| --- | --- | --- | --- | ---: | ---: |
| Apr 29, 2026 | Sebastian Teresa Mosley | Director | Grant / award | 12,111 | $0 |
| Apr 29, 2026 | Naim Moises | Director | Grant / award | 6,920 | $99,994 |
| Apr 29, 2026 | Naim Moises | Director | Grant / award | 12,111 | $0 |
| Apr 29, 2026 | MONIE ALAIN | Director | Grant / award | 12,111 | $0 |
| Apr 29, 2026 | Laulis Julia M. | Director | Grant / award | 12,111 | $0 |

## Recent SEC filings

| Filed | Form | What | Filing |
| --- | --- | --- | --- |
| Sep 17, 2026 | 8-K | 8.01 Other Events | https://www.sec.gov/Archives/edgar/data/874761/000114036126036994/ef20082051_8k.htm |
| Sep 16, 2026 | 8-K | 5.02 Departure/Election of Directors or Officers | https://www.sec.gov/Archives/edgar/data/874761/000087476126000153/aes-20260914.htm |
| Aug 27, 2026 | 8-K | 8.01 Other Events | https://www.sec.gov/Archives/edgar/data/874761/000114036126034714/ef20081101_8k.htm |
| Aug 5, 2026 | 8-K | 1.01 Entry into a Material Agreement; 9.01 Financial Statements and Exhibits | https://www.sec.gov/Archives/edgar/data/874761/000095010326011951/dp251078_8k.htm |
| Aug 4, 2026 | 10-Q | Quarterly report | https://www.sec.gov/Archives/edgar/data/874761/000087476126000144/aes-20260630.htm |

## About

The AES Corporation operates as an international enterprise primarily focused on electricity generation and distribution. Its activities involve both the ownership and management of power plants, producing and supplying electricity to a diverse clientele that includes other utility companies, large industrial consumers, and various intermediate purchasers. Beyond generation, AES also functions as a utility provider, managing infrastructure to either produce or acquire, then transmit, distribute, and ultimately sell power directly to end-users across residential, commercial, industrial, and governmental sectors. The company is also an active participant in the wholesale electricity market. For power production, AES utilizes a broad spectrum of energy sources and advanced technologies. This includes conventional fuels like coal and natural gas, as well as a significant commitment to renewa…

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Source: https://sweetvaluelab.com/stocks/aes (SweetValueLab, free, no account). Prices and statements from Financial Modeling Prep; filings from SEC EDGAR. Research and educational data, not investment advice; nothing here is a recommendation to buy, sell or hold any security.