The AES (AES) ROIC: History & Chart

Name: The AES Corporation (AES) Return on Invested Capital (ROIC) — historical time series
Creator: TGMCharts

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The AES Corporation(AES)

Diversified Utilities · Arlington, VA

$14.850.00 (0.00%)

Delayed quote: Sep 18, 2026, 12:04 PM EDT

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About The AES Corporation

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 renewables such as hydroelectric, wind, solar, and biomass. Its renewable portfolio further incorporates energy storage solutions and landfill gas. With an operational generation capacity of approximately 31,459 megawatts, the company maintains a substantial global presence, conducting business in the United States, Puerto Rico, various nations across Central and South America (including El Salvador, Chile, Colombia, Argentina, Brazil, Mexico), the Caribbean, Europe, and Asia. Founded in 1981, the company was initially named Applied Energy Services, Inc., before officially rebranding to The AES Corporation in April 2000. Its corporate headquarters are located in Arlington, Virginia.

Arlington, VA

8,336 employees

www.aes.com

Utilities / Diversified Utilities

Sector: Utilities
Industry: Diversified Utilities
CEO: Andres Ricardo Gluski Weilert

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AES Return on Invested Capital (ROIC) Metrics

RETURN ON INVESTED CAPITAL (ROIC)

4.38%

RETURN ON INVESTED CAPITAL (ROIC) AVG TTM

2.79%

RETURN ON INVESTED CAPITAL (ROIC) AVG 3Y

3.57%

RETURN ON INVESTED CAPITAL (ROIC) AVG 5Y

5.07%

RETURN ON INVESTED CAPITAL (ROIC) AVG 10Y

5.05%

RETURN ON INVESTED CAPITAL (ROIC) AVG 15Y

5.40%

RETURN ON INVESTED CAPITAL (ROIC) AVG 20Y

5.70%

CURRENT VS TTM AVG

+57.03%

CURRENT VS 3Y AVG

+22.58%

CURRENT VS 5Y AVG

-13.74%

CURRENT VS 10Y AVG

-13.34%

CURRENT VS 15Y AVG

-18.92%

CURRENT VS 20Y AVG

-23.17%

SECTOR MEDIAN · UTILITIES

4.09%

median of 40 covered companies

CURRENT VS SECTOR MEDIAN

+7.02%

vs the sector median at left

NAME	MARKET CAP	RETURN ON INVESTED CAPITAL (ROIC)	TTM	3Y	5Y
The AES Corporation (AES)	$10.59B	4.38%	2.79%	3.57%	5.07%
Pinnacle West Capital Corporation (PNW)vs ›	$11.39B	4.17%	3.33%	3.19%	3.29%
Brookfield Renewable Partners L.P. (BEP)vs ›	$8.99B	0.75%	1.15%	1.51%	1.71%
UGI Corporation (UGI)vs ›	$8.12B	6.41%	6.02%	2.46%	4.61%
Talen Energy Corporation (TLN)vs ›	$13.30B	1.87%	1.41%	1.26%	-0.17%
Oklo Inc. (OKLO)vs ›	$6.58B	-6.59%	-14.18%	-70.65%	-66.26%
Black Hills Corporation (BKH)vs ›	$5.36B	4.73%	4.69%	4.70%	4.72%
Alliant Energy Corporation (LNT)vs ›	$16.98B	4.04%	4.10%	4.40%	4.42%
Avista Corporation (AVA)vs ›	$3.04B	4.27%	3.92%	3.53%	3.50%
Evergy, Inc. (EVRG)vs ›	$18.40B	4.51%	4.38%	4.33%	4.25%

NAME

MARKET CAP

RETURN ON INVESTED CAPITAL (ROIC)

TTM

The AES Corporation (AES)

$10.59B

4.38%

2.79%

3.57%

5.07%

Pinnacle West Capital Corporation (PNW)vs ›

$11.39B

4.17%

3.33%

3.19%

3.29%

Brookfield Renewable Partners L.P. (BEP)vs ›

$8.99B

0.75%

1.15%

1.51%

1.71%

UGI Corporation (UGI)vs ›

$8.12B

6.41%

6.02%

2.46%

4.61%

Talen Energy Corporation (TLN)vs ›

$13.30B

1.87%

1.41%

1.26%

-0.17%

Oklo Inc. (OKLO)vs ›

$6.58B

-6.59%

-14.18%

-70.65%

-66.26%

Black Hills Corporation (BKH)vs ›

$5.36B

4.73%

4.69%

4.70%

4.72%

Alliant Energy Corporation (LNT)vs ›

$16.98B

4.04%

4.10%

4.40%

4.42%

Avista Corporation (AVA)vs ›

$3.04B

4.27%

3.92%

3.53%

3.50%

Evergy, Inc. (EVRG)vs ›

$18.40B

4.51%

4.38%

4.33%

4.25%

Return on Invested Capital (ROIC) Formula & Definition

ROIC = NOPAT / Invested Capital, where NOPAT = Operating Income × (1 − effective tax rate) and Invested Capital = Total Assets − (Current Liabilities − Short-Term Debt)

Return on invested capital measures the after-tax operating return a company earns on the capital invested in the business. TGMCharts computes it from reported statements: trailing-twelve-month operating income after tax, over invested capital at the latest balance sheet — total assets less the non-interest-bearing current liabilities (payables, accruals, deferred revenue) that fund them; short-term debt stays in the capital base. The tax rate is the period's own effective rate (income tax ÷ pretax income), capped at 45%; when pretax income is zero or negative, or the tax line is a net benefit, no tax is deducted — the operating figure is shown untaxed rather than adjusted by an assumed rate. Not shown for banks, insurers or funds.

Return on Invested Capital (ROIC) FAQ

What is the return on invested capital (ROIC) for The AES Corporation (AES)?

The return on invested capital (ROIC) for AES stock is 4.38%.

Is The AES Corporation's return on invested capital (ROIC) high or low?

The return on invested capital (ROIC) of 4.38% is 14% below its 5-year average of 5.07%, around the middle of its 5-year range (2.10%–9.08%).

What is the TTM average return on invested capital (ROIC) for The AES Corporation (AES)?

The TTM average return on invested capital (ROIC) for AES stock is 2.79%.

What is the 3Y average return on invested capital (ROIC) for The AES Corporation (AES)?

The 3Y average return on invested capital (ROIC) for AES stock is 3.57%.

What is the 5Y average return on invested capital (ROIC) for The AES Corporation (AES)?

The 5Y average return on invested capital (ROIC) for AES stock is 5.07%.

What is the 10Y average return on invested capital (ROIC) for The AES Corporation (AES)?

The 10Y average return on invested capital (ROIC) for AES stock is 5.05%.

What is the 15Y average return on invested capital (ROIC) for The AES Corporation (AES)?

The 15Y average return on invested capital (ROIC) for AES stock is 5.40%.

What is the 20Y average return on invested capital (ROIC) for The AES Corporation (AES)?

The 20Y average return on invested capital (ROIC) for AES stock is 5.70%.

DATE	RETURN ON INVESTED CAPITAL (ROIC)
2026-06-30	4.38%
2026-03-31	3.11%
2025-12-31	2.17%
2025-09-30	2.10%
2025-06-30	2.17%
2025-03-31	3.63%
2024-12-31	4.48%
2024-09-30	2.74%
2024-06-30	3.11%
2024-03-31	2.96%
2023-12-31	3.17%
2023-09-30	6.10%
2023-06-30	6.29%
2023-03-31	6.90%
2022-12-31	6.96%
2022-09-30	6.98%
2022-06-30	6.94%
2022-03-31	7.73%
2021-12-31	8.61%
2021-09-30	6.94%
2021-06-30	9.08%
2021-03-31	4.65%
2020-12-31	4.54%
2020-09-30	7.16%
2020-06-30	3.74%
2020-03-31	3.99%
2019-12-31	4.10%
2019-09-30	4.46%
2019-06-30	4.07%
2019-03-31	4.42%
2018-12-31	5.26%
2018-09-30	4.41%
2018-06-30	4.30%
2018-03-31	4.32%
2017-12-31	4.27%
2017-09-30	6.63%
2017-06-30	7.19%
2017-03-31	7.39%
2016-12-31	7.51%
2016-09-30	4.05%
2016-06-30	4.07%
2016-03-31	4.19%
2015-12-31	4.47%
2015-09-30	6.07%
2015-06-30	6.16%
2015-03-31	6.31%
2014-12-31	6.25%
2014-09-30	5.53%
2014-06-30	4.93%
2014-03-31	5.74%
2013-12-31	5.98%
2013-09-30	6.70%
2013-06-30	5.11%
2013-03-31	8.32%
2012-12-31	5.15%
2012-09-30	5.34%
2012-06-30	6.46%
2012-03-31	6.78%
2011-12-31	6.82%
2011-09-30	8.28%
2011-06-30	7.62%
2011-03-31	7.23%
2010-12-31	7.16%
2010-09-30	5.93%
2010-06-30	5.96%
2010-03-31	6.08%
2009-12-31	6.41%
2009-09-30	6.98%
2009-06-30	7.21%
2009-03-31	8.15%
2008-12-31	8.53%
2008-09-30	7.91%
2008-06-30	7.11%
2008-03-31	6.26%
2007-12-31	5.69%
2007-09-30	5.15%
2007-06-30	5.22%
2007-03-31	5.36%
2006-12-31	5.67%
2006-09-30	6.40%
2006-06-30	7.74%
2006-03-31	6.93%
2005-12-31	6.34%
2005-09-30	5.86%
2005-06-30	5.54%
2005-03-31	5.70%
2004-12-31	5.65%
2004-09-30	5.52%
2004-06-30	6.03%
2004-03-31	5.02%
2003-12-31	5.28%
2003-09-30	-0.26%
2003-06-30	-1.72%

DATE

RETURN ON INVESTED CAPITAL (ROIC)

2026-06-30

4.38%

2026-03-31

3.11%

2025-12-31

2.17%

2025-09-30

2.10%

2025-06-30

2.17%

2025-03-31

3.63%

2024-12-31

4.48%

2024-09-30

2.74%

2024-06-30

3.11%

2024-03-31

2.96%

2023-12-31

3.17%

2023-09-30

6.10%

2023-06-30

6.29%

2023-03-31

6.90%

2022-12-31

6.96%

2022-09-30

6.98%

2022-06-30

6.94%

2022-03-31

7.73%

2021-12-31

8.61%

2021-09-30

6.94%

2021-06-30

9.08%

2021-03-31

4.65%

2020-12-31

4.54%

2020-09-30

7.16%

2020-06-30

3.74%

2020-03-31

3.99%

2019-12-31

4.10%

2019-09-30

4.46%

2019-06-30

4.07%

2019-03-31

4.42%

2018-12-31

5.26%

2018-09-30

4.41%

2018-06-30

4.30%

2018-03-31

4.32%

2017-12-31

4.27%

2017-09-30

6.63%

2017-06-30

7.19%

2017-03-31

7.39%

2016-12-31

7.51%

2016-09-30

4.05%

2016-06-30

4.07%

2016-03-31

4.19%

2015-12-31

4.47%

2015-09-30

6.07%

2015-06-30

6.16%

2015-03-31

6.31%

2014-12-31

6.25%

2014-09-30

5.53%

2014-06-30

4.93%

2014-03-31

5.74%

2013-12-31

5.98%

2013-09-30

6.70%

2013-06-30

5.11%

2013-03-31

8.32%

2012-12-31

5.15%

2012-09-30

5.34%

2012-06-30

6.46%

2012-03-31

6.78%

2011-12-31

6.82%

2011-09-30

8.28%

2011-06-30

7.62%

2011-03-31

7.23%

2010-12-31

7.16%

2010-09-30

5.93%

2010-06-30

5.96%

2010-03-31

6.08%

2009-12-31

6.41%

2009-09-30

6.98%

2009-06-30

7.21%

2009-03-31

8.15%

2008-12-31

8.53%

2008-09-30

7.91%

2008-06-30

7.11%

2008-03-31

6.26%

2007-12-31

5.69%

2007-09-30

5.15%

2007-06-30

5.22%

2007-03-31

5.36%

2006-12-31

5.67%

2006-09-30

6.40%

2006-06-30

7.74%

2006-03-31

6.93%

2005-12-31

6.34%

2005-09-30

5.86%

2005-06-30

5.54%

2005-03-31

5.70%

2004-12-31

5.65%

2004-09-30

5.52%

2004-06-30

6.03%

2004-03-31

5.02%

2003-12-31

5.28%

2003-09-30

-0.26%

2003-06-30

-1.72%

Return on Invested Capital (ROIC): 4.38%

AES Return on Invested Capital (ROIC)

AES Average Return on Invested Capital (ROIC) Chart

AES Current vs Average Return on Invested Capital (ROIC) Chart

AES Return on Invested Capital (ROIC) Metrics

AES Competitors' Return on Invested Capital (ROIC)

Capital Efficiency

Return on Invested Capital (ROIC) Formula & Definition

Return on Invested Capital (ROIC) FAQ

AES Return on Invested Capital (ROIC) History

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