Income Statement

Revenue

-3%

+27%

10Y

Currency: USD

	Mar-2002	Jun-2002	Sep-2002	Dec-2002	Mar-2003	Jun-2003	Sep-2003	Dec-2003	Mar-2004	Jun-2004	Sep-2004	Dec-2004	Mar-2005	Jun-2005	Sep-2005	Dec-2005	Mar-2006	Jun-2006	Sep-2006	Dec-2006	Mar-2007	Jun-2007	Sep-2007	Dec-2007	Mar-2008	Jun-2008	Sep-2008	Dec-2008	Mar-2009	Jun-2009	Sep-2009	Dec-2009	Mar-2010	Jun-2010	Sep-2010	Dec-2010	Mar-2011	Jun-2011	Sep-2011	Dec-2011	Mar-2012	Jun-2012	Sep-2012	Dec-2012	Mar-2013	Jun-2013	Sep-2013	Dec-2013	Mar-2014	Jun-2014	Sep-2014	Dec-2014	Mar-2015	Jun-2015	Sep-2015	Dec-2015	Mar-2016	Jun-2016	Sep-2016	Dec-2016	Mar-2017	Jun-2017	Sep-2017	Dec-2017	Mar-2018	Jun-2018	Sep-2018	Dec-2018	Mar-2019	Jun-2019	Sep-2019	Dec-2019	Mar-2020	Jun-2020	Sep-2020	Dec-2020	Mar-2021	Jun-2021	Sep-2021	Dec-2021	Mar-2022	Jun-2022	Sep-2022	Dec-2022	Mar-2023	Jun-2023	Sep-2023	Dec-2023	Mar-2024	Jun-2024	Sep-2024	Dec-2024	Mar-2025	Jun-2025	Sep-2025	Dec-2025
Revenue
Interest Expense	1 607	1 637	1 705	1 792	1 855	1 971	2 000	1 984	1 995	1 905	1 905	1 816	1 877	1 924	1 872	1 828	1 778	1 735	1 763	1 769	1 775	1 755	1 727	1 755	1 799	1 856	1 836	1 770	1 740	1 639	1 617	1 461	1 494	1 515	1 490	1 449	1 460	1 452	1 489	1 516	1 215	1 203	1 179	1 536	1 496	1 496	1 458	1 523	1 502	1 456	1 488	1 451	1 439	1 403	1 380	1 145	1 343	0	1 045	1 134	641	917	860	1 170	1 164	1 151	1 109	1 056	1 040	1 050	1 045	1 050	1 018	963	1 003	1 038	995	1 014	966	911	979	1 021	1 055	1 117	1 189	1 220	1 270	1 319	1 346	1 425	1 478	1 485	1 470	0	0	0
Revenue	7 737 N/A	7 494 -3%	7 545 +1%	7 377 -2%	7 112 -4%	7 470 +5%	7 805 +4%	8 413 +8%	8 758 +4%	9 028 +3%	9 219 +2%	8 745 -5%	9 850 +13%	10 237 +4%	10 574 +3%	10 247 -3%	10 483 +2%	10 696 +2%	10 911 +2%	11 509 +5%	11 861 +3%	12 339 +4%	12 836 +4%	13 014 +1%	14 506 +11%	15 292 +5%	15 533 +2%	15 197 -2%	14 512 -5%	13 677 -6%	13 617 0%	13 110 -4%	14 639 +12%	15 271 +4%	15 609 +2%	15 443 -1%	16 064 +4%	16 576 +3%	16 893 +2%	16 098 -5%	13 328 -17%	12 759 -4%	12 807 +0%	17 164 +34%	16 728 -3%	16 807 +0%	16 448 -2%	15 891 -3%	15 986 +1%	16 352 +2%	16 797 +3%	16 124 -4%	16 642 +3%	15 987 -4%	15 068 -6%	11 260 -25%	13 668 +21%	13 241 -3%	13 261 +0%	10 281 -22%	9 591 -7%	8 975 -6%	8 126 -9%	10 530 +30%	10 689 +2%	10 613 -1%	10 757 +1%	10 736 0%	10 646 -1%	10 592 -1%	10 380 -2%	10 189 -2%	9 877 -3%	9 611 -3%	9 531 -1%	9 660 +1%	9 957 +3%	10 440 +5%	10 931 +5%	11 141 +2%	11 358 +2%	11 736 +3%	12 327 +5%	12 617 +2%	13 004 +3%	12 953 0%	12 760 -1%	12 668 -1%	12 514 -1%	12 429 -1%	12 284 -1%	12 278 0%	12 119 -1%	12 032 -1%	12 094 +1%	12 233 +1%
Gross Profit
Cost of Revenue	(5 502)	(5 390)	(5 385)	(5 409)	(5 239)	(5 387)	(5 585)	(5 954)	(6 189)	(6 342)	(6 473)	(6 187)	(6 929)	(7 446)	(7 622)	(7 377)	(7 473)	(7 345)	(7 584)	(8 090)	(8 483)	(8 924)	(9 454)	(9 716)	(10 921)	(11 582)	(11 770)	(11 629)	(11 073)	(10 464)	(10 330)	(9 753)	(11 094)	(11 527)	(11 865)	(11 623)	(12 096)	(12 618)	(12 892)	(12 058)	(10 254)	(9 996)	(10 087)	(13 581)	(13 468)	(13 327)	(13 008)	(12 644)	(12 720)	(13 168)	(13 773)	(13 144)	(13 627)	(13 036)	(12 219)	(8 597)	(11 022)	(10 776)	(10 773)	(7 901)	(7 163)	(6 498)	(5 697)	(8 066)	(8 126)	(8 073)	(8 186)	(8 163)	(8 143)	(8 187)	(7 945)	(7 840)	(7 607)	(7 319)	(7 184)	(6 967)	(7 107)	(7 386)	(7 873)	(8 430)	(8 781)	(9 324)	(9 783)	(10 069)	(10 392)	(10 406)	(10 187)	(10 164)	(9 985)	(9 845)	(9 896)	(9 964)	(9 943)	(9 953)	(10 006)	(9 982)
Gross Profit	2 235 N/A	2 104 -6%	2 160 +3%	1 968 -9%	1 873 -5%	2 083 +11%	2 220 +7%	2 459 +11%	2 569 +4%	2 686 +5%	2 746 +2%	2 558 -7%	2 921 +14%	2 791 -4%	2 952 +6%	2 870 -3%	3 010 +5%	3 351 +11%	3 327 -1%	3 419 +3%	3 378 -1%	3 415 +1%	3 382 -1%	3 298 -2%	3 585 +9%	3 710 +3%	3 763 +1%	3 568 -5%	3 439 -4%	3 213 -7%	3 287 +2%	3 357 +2%	3 545 +6%	3 744 +6%	3 744 N/A	3 820 +2%	3 968 +4%	3 958 0%	4 001 +1%	4 040 +1%	3 074 -24%	2 763 -10%	2 720 -2%	3 583 +32%	3 260 -9%	3 480 +7%	3 440 -1%	3 247 -6%	3 266 +1%	3 184 -3%	3 024 -5%	2 980 -1%	3 015 +1%	2 951 -2%	2 849 -3%	2 663 -7%	2 646 -1%	2 465 -7%	2 488 +1%	2 380 -4%	2 428 +2%	2 477 +2%	2 429 -2%	2 464 +1%	2 563 +4%	2 540 -1%	2 571 +1%	2 573 +0%	2 503 -3%	2 405 -4%	2 435 +1%	2 349 -4%	2 270 -3%	2 292 +1%	2 347 +2%	2 693 +15%	2 850 +6%	3 054 +7%	3 058 +0%	2 711 -11%	2 577 -5%	2 412 -6%	2 544 +5%	2 548 +0%	2 612 +3%	2 547 -2%	2 573 +1%	2 504 -3%	2 529 +1%	2 584 +2%	2 388 -8%	2 314 -3%	2 176 -6%	2 079 -4%	2 088 +0%	2 251 +8%
Operating Income
Operating Expenses	(124)	(206)	(114)	(55)	(809)	(670)	(89)	(92)	(19)	(104)	(51)	(193)	(337)	(274)	(283)	(236)	(229)	(316)	(340)	(313)	(621)	(383)	(376)	(441)	(279)	(588)	(438)	(317)	39	96	(41)	(295)	(198)	(237)	(259)	(488)	(502)	(477)	(502)	(381)	(973)	(691)	(247)	(279)	(561)	(233)	(214)	(255)	(738)	(206)	(199)	(215)	(851)	(181)	(194)	(163)	(119)	(354)	97	(207)	(25)	(206)	43	(165)	(151)	(141)	(146)	(180)	(176)	(195)	(193)	(191)	(141)	(126)	(125)	(121)	(166)	(171)	(135)	213	198	188	142	(187)	(166)	(206)	(218)	(223)	(226)	(288)	(224)	(262)	(326)	(263)	(295)	(324)
Selling, General & Administrative	(132)	(118)	(111)	(112)	(114)	(119)	(145)	(157)	(176)	(186)	(190)	(181)	(183)	(186)	(195)	(221)	(232)	(245)	(260)	(301)	(324)	(355)	(384)	(378)	(398)	(408)	(405)	(368)	(356)	(344)	(335)	(339)	(336)	(350)	(367)	(391)	(407)	(403)	(395)	(346)	(274)	(251)	(225)	(274)	(241)	(220)	(209)	(220)	(194)	(193)	(185)	(187)	(191)	(189)	(189)	(196)	(189)	(186)	(181)	(194)	(200)	(202)	(214)	(215)	(217)	(203)	(194)	(192)	(182)	(196)	(194)	(196)	(188)	(179)	(179)	(165)	(173)	(178)	(176)	(166)	(172)	(173)	(185)	(207)	(210)	(236)	(249)	(255)	(275)	(269)	(262)	(288)	(282)	(264)	(238)	(217)
Other Operating Expenses	8	(88)	(3)	57	(695)	(551)	56	65	157	82	139	(12)	(154)	(88)	(88)	(15)	3	(71)	(80)	(12)	(297)	(28)	8	(63)	119	(180)	(33)	51	395	440	294	44	138	113	108	(97)	(95)	(74)	(107)	(35)	(699)	(440)	(22)	(5)	(320)	(13)	(5)	(35)	(544)	(13)	(14)	(28)	(660)	8	(5)	33	70	(168)	278	(13)	175	(4)	257	50	66	62	48	12	6	1	1	5	47	53	54	44	7	7	41	379	370	361	327	20	44	30	31	32	49	(19)	38	26	(44)	1	(57)	(107)
Operating Income	2 111 N/A	1 898 -10%	2 046 +8%	1 913 -7%	1 064 -44%	1 413 +33%	2 131 +51%	2 367 +11%	2 550 +8%	2 582 +1%	2 695 +4%	2 365 -12%	2 584 +9%	2 517 -3%	2 669 +6%	2 634 -1%	2 781 +6%	3 035 +9%	2 987 -2%	3 106 +4%	2 757 -11%	3 032 +10%	3 006 -1%	2 857 -5%	3 306 +16%	3 122 -6%	3 325 +7%	3 251 -2%	3 478 +7%	3 309 -5%	3 246 -2%	3 062 -6%	3 347 +9%	3 507 +5%	3 485 -1%	3 332 -4%	3 466 +4%	3 481 +0%	3 499 +1%	3 659 +5%	2 101 -43%	2 072 -1%	2 473 +19%	3 304 +34%	2 699 -18%	3 247 +20%	3 226 -1%	2 992 -7%	2 528 -16%	2 978 +18%	2 825 -5%	2 765 -2%	2 164 -22%	2 770 +28%	2 655 -4%	2 500 -6%	2 527 +1%	2 111 -16%	2 585 +22%	2 173 -16%	2 403 +11%	2 271 -5%	2 472 +9%	2 299 -7%	2 412 +5%	2 399 -1%	2 425 +1%	2 393 -1%	2 327 -3%	2 210 -5%	2 242 +1%	2 158 -4%	2 129 -1%	2 166 +2%	2 222 +3%	2 572 +16%	2 684 +4%	2 883 +7%	2 923 +1%	2 924 +0%	2 775 -5%	2 600 -6%	2 686 +3%	2 361 -12%	2 446 +4%	2 341 -4%	2 355 +1%	2 281 -3%	2 303 +1%	2 296 0%	2 164 -6%	2 052 -5%	1 850 -10%	1 816 -2%	1 793 -1%	1 927 +7%
Pre-Tax Income
Interest Income Expense	(1 398)	(1 582)	(1 854)	(2 380)	(2 692)	(2 672)	(2 451)	(1 712)	(1 958)	(1 982)	(2 001)	(1 663)	(1 542)	(1 522)	(1 415)	(1 543)	(1 346)	(1 320)	(1 869)	(1 317)	(1 873)	(1 783)	(1 193)	(1 237)	(1 026)	(273)	(308)	(526)	(591)	(1 247)	(1 200)	(951)	(992)	(1 202)	(1 084)	(1 075)	(1 008)	(896)	(1 120)	(1 164)	(326)	(714)	(315)	(1 366)	(1 060)	(607)	(533)	(1 229)	(690)	(484)	(643)	(1 120)	(408)	(558)	(385)	(783)	(570)	0	(449)	(904)	(244)	(449)	(661)	(884)	(864)	(876)	(835)	(818)	(784)	(736)	(821)	(799)	(748)	(739)	(707)	(715)	(733)	(739)	(657)	(623)	(668)	(709)	(735)	(783)	(852)	(865)	(979)	(1 127)	(1 138)	(1 155)	(1 161)	(1 073)	(1 096)	(1 191)	(1 194)	(1 242)
Non-Reccuring Items	0	0	(168)	(1 211)	0	0	(530)	(11)	0	0	0	30	0	0	0	66	(16)	(32)	(21)	(875)	0	0	(62)	(106)	(448)	(355)	(445)	(43)	(128)	(222)	(83)	169	(133)	(80)	(410)	(360)	(445)	(519)	(332)	(153)	5	15	(1 702)	(1 658)	(1 867)	(1 996)	(194)	(586)	(791)	(702)	(340)	(74)	177	63	(457)	(728)	(870)	(969)	(860)	(1 082)	(1 084)	(972)	(951)	(644)	84	225	186	590	(22)	(177)	(32)	(266)	(278)	(179)	(1 207)	(1 167)	(1 616)	(2 202)	(1 222)	(3 365)	(2 916)	(2 730)	(2 759)	(1 572)	(1 587)	(1 305)	(1 408)	(1 050)	(1 049)	(1 106)	(1 053)	(85)	(159)	96	152	(497)
Total Other Income	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	(39)	(45)	(45)	(57)	(18)	(12)	(12)	(15)	(25)	(25)	(27)	(12)	0	(7)	(7)	(7)	(7)	(2)	(82)	(82)	(131)	(132)	(764)	(50)	(1)	(672)	(794)	(129)	(129)	(863)	(757)	(128)	(128)	(492)	(476)	0	(107)	(580)	(580)	0	(904)	(431)	(431)	0	0	0	0	(147)	(147)	(147)	(147)	(92)	(136)	(294)	(294)	(202)	(158)	0	0	0	0	0	0	(175)	(175)	(175)	(175)	0	0	0	0	0	0	(10)	(42)	(113)
Pre-Tax Income	713 N/A	316 -56%	24 -92%	(1 678) N/A	(1 628) +3%	(1 259) +23%	(850) +32%	644 N/A	592 -8%	600 +1%	694 +16%	732 +5%	1 042 +42%	995 -5%	1 254 +26%	1 157 -8%	1 419 +23%	1 683 +19%	1 097 -35%	914 -17%	845 -8%	1 204 +42%	1 706 +42%	1 457 -15%	1 814 +25%	2 482 +37%	2 560 +3%	2 667 +4%	2 734 +3%	1 815 -34%	1 936 +7%	2 268 +17%	2 220 -2%	2 218 0%	1 984 -11%	1 890 -5%	2 006 +6%	2 064 +3%	1 965 -5%	2 260 +15%	1 649 -27%	1 241 -25%	(308) N/A	230 N/A	(229) N/A	(28) +88%	1 705 N/A	1 048 -39%	918 -12%	929 +1%	1 085 +17%	1 443 +33%	1 805 +25%	1 783 -1%	1 337 -25%	989 -26%	980 -1%	562 -43%	696 +24%	187 -73%	171 -9%	419 +145%	429 +2%	771 +80%	1 632 +112%	1 748 +7%	1 776 +2%	2 018 +14%	1 374 -32%	1 150 -16%	1 242 +8%	1 001 -19%	967 -3%	954 -1%	14 -99%	488 +3 386%	177 -64%	(58) N/A	1 044 N/A	(1 064) N/A	(809) +24%	(839) -4%	(808) +4%	(169) +79%	(168) +1%	(4) +98%	(207) -5 075%	104 N/A	116 +12%	35 -70%	(50) N/A	894 N/A	595 -33%	711 +19%	709 0%	75 -89%
Net Income
Tax Provision	(206)	(118)	(28)	(461)	(451)	(524)	(648)	(211)	(232)	(182)	(272)	(365)	(425)	(489)	(539)	(473)	(523)	(531)	(394)	(359)	(350)	(537)	(647)	(676)	(743)	(786)	(805)	(771)	(706)	(493)	(531)	(557)	(611)	(767)	(666)	(593)	(608)	(521)	(487)	(656)	(510)	(410)	(514)	(685)	(500)	(502)	(456)	(343)	(314)	(395)	(361)	(371)	(465)	(431)	(382)	(412)	(468)	(339)	(371)	(32)	(3)	(95)	(113)	(951)	(1 115)	(1 161)	(1 214)	(670)	(554)	(479)	(463)	(352)	(326)	(382)	(105)	(216)	(135)	37	(236)	133	81	41	22	(265)	(277)	(294)	(258)	(261)	(173)	(140)	(134)	(59)	(92)	(294)	35	181
Income from Continuing Operations	507	198	(4)	(2 139)	(2 079)	(1 783)	(1 498)	433	360	418	422	367	617	506	715	684	896	1 152	703	555	495	667	1 059	781	1 071	1 696	1 755	1 896	2 028	1 322	1 405	1 711	1 609	1 451	1 318	1 297	1 398	1 543	1 478	1 604	1 139	831	(822)	(455)	(729)	(530)	1 249	705	604	534	724	1 072	1 340	1 352	955	577	512	223	325	155	168	324	316	(180)	517	587	562	1 348	820	671	779	649	641	572	(91)	272	42	(21)	808	(931)	(728)	(798)	(786)	(434)	(445)	(298)	(465)	(157)	(57)	(105)	(184)	835	503	417	744	256
Income to Minority Interest	(63)	(16)	(27)	75	34	(7)	(23)	(139)	(161)	(215)	(215)	(195)	(253)	(198)	(259)	(319)	(292)	(442)	(534)	(460)	(530)	(609)	(583)	(403)	(465)	(474)	(503)	(759)	(870)	(830)	(881)	(1 080)	(1 035)	(1 095)	(1 100)	(985)	(1 028)	(996)	(1 019)	(1 096)	(689)	(514)	(398)	(540)	(484)	(580)	(589)	(446)	(481)	(454)	(310)	(386)	(363)	(419)	(422)	(364)	(292)	(197)	(231)	(211)	(384)	(373)	(404)	(359)	(331)	(370)	(372)	(364)	(350)	(272)	(270)	(175)	(181)	(217)	19	(106)	(140)	51	(239)	542	605	457	574	(41)	(23)	0	(35)	431	623	867	1 219	877	842	673	503	748
Equity Earnings Affiliates	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	73	0	0	0	76	0	0	0	33	7	57	75	93	98	182	190	184	181	43	22	(2)	14	29	49	35	26	17	7	25	46	64	43	19	8	(11)	76	105	97	104	34	36	37	31	44	71	75	87	69	39	22	13	11	(172)	(168)	(165)	(281)	(123)	(151)	(169)	(32)	(24)	(27)	(12)	(63)	(71)	(42)	(72)	(60)	(32)	(43)	(15)	(10)	(26)	(45)	(70)	(60)	(55)
Net Income (Common)	(151) N/A	(381) -152%	(699) -83%	(4 001) -472%	(3 595) +10%	(3 609) 0%	(3 218) +11%	(452) +86%	(535) -18%	(292) +45%	(295) -1%	304 N/A	426 +40%	397 -7%	568 +43%	549 -3%	805 +47%	895 +11%	366 -59%	247 -33%	(556) N/A	(477) +14%	(89) +81%	(95) -7%	599 N/A	1 248 +108%	1 290 +3%	1 234 -4%	1 219 -1%	619 -49%	659 +6%	658 0%	627 -5%	468 -25%	397 -15%	9 -98%	46 +411%	76 +65%	(169) N/A	58 N/A	112 +93%	78 -30%	(1 359) N/A	(912) +33%	(1 171) -28%	(1 144) +2%	495 N/A	114 -77%	(26) N/A	(60) -131%	357 N/A	769 +115%	969 +26%	905 -7%	597 -34%	306 -49%	290 -5%	(261) N/A	(266) -2%	(1 130) -325%	(1 280) -13%	(745) +42%	(768) -3%	(1 161) -51%	(433) +63%	(196) +55%	(247) -26%	1 203 N/A	673 -44%	400 -41%	509 +27%	303 -40%	293 -3%	193 -34%	(350) N/A	46 N/A	(246) N/A	(135) +45%	541 N/A	(409) N/A	(146) +64%	(353) -142%	(275) +22%	(546) -99%	(510) +7%	(370) +27%	(560) -51%	249 N/A	530 +113%	754 +42%	1 025 +36%	1 679 +64%	1 293 -23%	1 003 -22%	1 135 +13%	900 -21%
EPS (Diluted)	-0.28 N/A	-0.71 -154%	-1.28 -80%	-7.42 -480%	-6.34 +15%	-6.19 +2%	-5.15 +17%	-0.75 +85%	-0.84 -12%	-0.44 +48%	-0.45 -2%	0.46 N/A	0.63 +37%	0.59 -6%	0.85 +44%	0.82 -4%	1.17 +43%	1.33 +14%	0.51 -62%	0.36 -29%	-0.83 N/A	-0.68 +18%	-0.13 +81%	-0.14 -8%	0.89 N/A	1.78 +100%	1.66 -7%	1.79 +8%	1.83 +2%	0.9 -51%	0.98 +9%	0.98 N/A	0.89 -9%	0.58 -35%	0.49 -16%	0.01 -98%	0.05 +400%	0.09 +80%	-0.21 N/A	0.07 N/A	0.14 +100%	0.1 -29%	-1.81 N/A	-1.2 +34%	-1.58 -32%	-1.52 +4%	0.66 N/A	0.15 -77%	-0.03 N/A	-0.08 -167%	0.48 N/A	1.06 +121%	1.38 +30%	1.3 -6%	0.87 -33%	0.46 -47%	0.43 -7%	-0.39 N/A	-0.4 -3%	-1.71 -328%	-1.94 -13%	-1.12 +42%	-1.15 -3%	-1.75 -52%	-0.65 +63%	-0.29 +55%	-0.37 -28%	1.8 N/A	1 -44%	0.61 -39%	0.77 +26%	0.45 -42%	0.43 -4%	0.28 -35%	-0.53 N/A	0.06 N/A	-0.38 N/A	-0.21 +45%	0.77 N/A	-0.62 N/A	-0.2 +68%	-0.52 -160%	-0.38 +27%	-0.82 -116%	-0.71 +13%	-0.55 +23%	-0.78 -42%	0.34 N/A	0.74 +118%	1.05 +42%	1.43 +36%	2.36 +65%	1.82 -23%	1.42 -22%	1.58 +11%	1.26 -20%

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AES Corp
NYSE:AES

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AES Corp

Income Statement
AES Corp

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AES Corp NYSE:AES

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Income Statement AES Corp

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AES Corp
NYSE:AES

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AES Corp

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AES Corp