Basis: Latest reported fiscal quarter. Source: stored company filings and market data; unavailable inputs remain N/A.
Is the gross margin high or low?
The gross margin of 20.13% is in line with its 5-year average of 20.12%, around the middle of its 5-year range (14.18%–27.07%).
As of the fiscal period ended Tuesday, March 31, 2026. 9.66% above its 12-month average of 18.35%.
Reported quarterly gross margin; no daily interpolation.
GROSS MARGIN
20.13%
GROSS MARGIN AVG TTM
18.35%
GROSS MARGIN AVG 3Y
18.21%
GROSS MARGIN AVG 5Y
20.12%
GROSS MARGIN AVG 10Y
21.23%
GROSS MARGIN AVG 15Y
21.00%
GROSS MARGIN AVG 20Y
21.54%
CURRENT VS TTM AVG
+9.66%
CURRENT VS 3Y AVG
+10.54%
CURRENT VS 5Y AVG
+0.04%
CURRENT VS 10Y AVG
-5.18%
CURRENT VS 15Y AVG
-4.15%
CURRENT VS 20Y AVG
-6.55%
SECTOR MEDIAN · UTILITIES
31.81%
median of 43 covered companies
CURRENT VS SECTOR MEDIAN
-36.73%
vs the sector median at left
The AES Corporation
Market Cap
$10.47B
Gross Margin
20.13%
TTM Avg
18.35%
3Y Avg
18.21%
5Y Avg
20.12%
Market Cap
$10.11B
Gross Margin
16.84%
TTM Avg
36.47%
3Y Avg
51.03%
5Y Avg
56.24%
Market Cap
$12.21B
Gross Margin
25.41%
TTM Avg
33.55%
3Y Avg
36.47%
5Y Avg
39.35%
Market Cap
$8.31B
Gross Margin
15.19%
TTM Avg
39.33%
3Y Avg
51.52%
5Y Avg
56.75%
Market Cap
$15.28B
Gross Margin
40.14%
TTM Avg
35.08%
3Y Avg
36.33%
5Y Avg
31.78%
Market Cap
$5.43B
Gross Margin
35.66%
TTM Avg
38.98%
3Y Avg
35.60%
5Y Avg
36.73%
| NAME | MARKET CAP | GROSS MARGIN | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| The AES Corporation (AES) | $10.47B | 20.13% | 18.35% | 18.21% | 20.12% |
| Brookfield Renewable Partners L.P. (BEP)vs › | $10.11B | 16.84% | 36.47% | 51.03% | 56.24% |
| Pinnacle West Capital Corporation (PNW)vs › | $12.21B | 25.41% | 33.55% | 36.47% | 39.35% |
| Clearway Energy, Inc. (CWEN-A)vs › | $8.31B | 15.19% | 39.33% | 51.52% | 56.75% |
| UGI Corporation (UGI)vs › | $7.67B | 46.11% | 50.45% | 41.03% | 46.83% |
| Oklo Inc. (OKLO)vs › | $7.42B | 0.00% | 0.00% | 0.00% | 0.00% |
| Talen Energy Corporation (TLN)vs › | $15.28B | 40.14% | 35.08% | 36.33% | 31.78% |
| Black Hills Corporation (BKH)vs › | $5.43B | 35.66% | 38.98% | 35.60% | 36.73% |
| Avista Corporation (AVA)vs › | $3.23B | 24.19% | 41.51% | 49.97% | 55.86% |
| Fluence Energy, Inc. (FLNC)vs › | $2.81B | 11.51% | 12.86% | 6.72% | 3.02% |
Gross Margin
20.1%
(Revenue - COGS) / Revenue
Gross Margin = Gross Profit / Revenue
Gross margin is the percentage of revenue remaining after the cost of goods sold, reflecting core product profitability.
Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute
| DATE | GROSS MARGIN |
|---|---|
| 2026-03-31 | 20.13% |
| 2025-12-31 | 18.77% |
| 2025-09-30 | 21.93% |
| 2025-06-30 | 15.90% |
| 2025-03-31 | 15.04% |
| 2024-12-31 | 14.18% |
| 2024-09-30 | 21.92% |
| 2024-06-30 | 18.80% |
| 2024-03-31 | 20.10% |
| 2023-12-31 | 16.68% |
| 2023-09-30 | 26.70% |
| 2023-06-30 | 16.67% |
| 2023-03-31 | 18.37% |
| 2022-12-31 | 18.14% |
| 2022-09-30 | 24.73% |
| 2022-06-30 | 18.32% |
| 2022-03-31 | 18.65% |
| 2021-12-31 | 20.14% |
| 2021-09-30 | 24.99% |
| 2021-06-30 | 27.07% |
| 2021-03-31 | 25.24% |
| 2020-12-31 | 35.39% |
| 2020-09-30 | 29.74% |
| 2020-06-30 | 23.58% |
| 2020-03-31 | 21.73% |
| 2019-12-31 | 23.11% |
| 2019-09-30 | 26.74% |
| 2019-06-30 | 20.26% |
| 2019-03-31 | 22.45% |
| 2018-12-31 | 24.64% |
| 2018-09-30 | 23.71% |
| 2018-06-30 | 23.72% |
| 2018-03-31 | 24.09% |
| 2017-12-31 | 24.28% |
| 2017-09-30 | 23.50% |
| 2017-06-30 | 23.80% |
| 2017-03-31 | 17.03% |
| 2016-12-31 | 18.37% |
| 2016-09-30 | 19.45% |
| 2016-06-30 | 19.34% |
| 2016-03-31 | 17.03% |
| 2015-12-31 | 18.37% |
| 2015-09-30 | 19.45% |
| 2015-06-30 | 20.65% |
| 2015-03-31 | 19.19% |
| 2014-12-31 | 17.13% |
| 2014-09-30 | 17.27% |
| 2014-06-30 | 19.00% |
| 2014-03-31 | 18.63% |
| 2013-12-31 | 17.63% |
| 2013-09-30 | 23.20% |
| 2013-06-30 | 22.84% |
| 2013-03-31 | 18.05% |
| 2012-12-31 | 20.34% |
| 2012-09-30 | 22.20% |
| 2012-06-30 | 16.95% |
| 2012-03-31 | 23.38% |
| 2011-12-31 | 26.82% |
| 2011-09-30 | 23.45% |
| 2011-06-30 | 22.37% |
| 2011-03-31 | 23.89% |
| 2010-12-31 | 22.96% |
| 2010-09-30 | 24.24% |
| 2010-06-30 | 25.54% |
| 2010-03-31 | 24.52% |
| 2009-12-31 | 22.21% |
| 2009-09-30 | 26.48% |
| 2009-06-30 | 24.40% |
| 2009-03-31 | 26.19% |
| 2008-12-31 | 100.00% |
| 2008-09-30 | 22.27% |
| 2008-06-30 | 24.94% |
| 2008-03-31 | 25.53% |
| 2007-12-31 | 100.00% |
| 2007-09-30 | 100.00% |
| 2007-06-30 | 100.00% |
| 2007-03-31 | 100.00% |
| 2006-12-31 | 100.00% |
| 2006-09-30 | 100.00% |
| 2006-06-30 | 100.00% |
| 2006-03-31 | 100.00% |
| 2005-12-31 | 100.00% |
| 2005-09-30 | 100.00% |
| 2005-06-30 | 100.00% |
| 2005-03-31 | 100.00% |
| 2004-12-31 | 100.00% |
| 2004-09-30 | 100.00% |
| 2004-06-30 | 100.00% |
| 2004-03-31 | 100.00% |
| 2003-12-31 | 100.00% |
| 2003-09-30 | 100.00% |
| 2003-06-30 | 100.00% |
| 2003-03-31 | 100.00% |
| 2002-12-31 | 100.00% |
| 2002-09-30 | 100.00% |
| 2002-06-30 | 17.03% |
