The AES Corporation (AES) — Capital Reinvestment Ratio
The AES Corporation (AES) has a Capital Reinvestment Ratio of 1.47x as of March 2026, meaning it reinvests 1% of its operating cash flow ($1.20 Billion) in capital expenditures ($1.77 Billion). Check The AES Corporation tangible net worth ratio to evaluate the tangible quality of the company's equity base.
Capital Reinvestment Ratio
Operating Cash Flow
Capital Expenditures
Data as of
The AES Corporation Capital Reinvestment Ratio (1994–2025)
This chart tracks The AES Corporation's Capital Reinvestment Ratio across 32 annual periods. For the full cash flow conversion analysis, see AES operating cash flow.
Annual Capital Reinvestment Ratio for The AES Corporation (1994–2025)
Year-by-year Capital Reinvestment Ratio for The AES Corporation from 1994 to 2025. See AES free cash flow generation to measure how efficiently the company converts operating cash flow to free cash.
| Year | Reinvestment Ratio | Operating CF (USD) | Capital Expenditures | YoY Change |
|---|---|---|---|---|
| 2025 | 1.38x | $4.31 Billion | $5.93 Billion | ▼ -48.7% |
| 2024 | 2.69x | $2.75 Billion | $7.39 Billion | ▲ +5.5% |
| 2023 | 2.55x | $3.03 Billion | $7.72 Billion | ▲ +51.9% |
| 2022 | 1.68x | $2.71 Billion | $4.55 Billion | ▲ +50.7% |
| 2021 | 1.11x | $1.90 Billion | $2.12 Billion | ▲ +61.3% |
| 2020 | 0.69x | $2.75 Billion | $1.90 Billion | ▼ -29.3% |
| 2019 | 0.98x | $2.47 Billion | $2.40 Billion | ▲ +7.7% |
| 2018 | 0.91x | $2.34 Billion | $2.12 Billion | ▲ +3.5% |
| 2017 | 0.87x | $2.49 Billion | $2.18 Billion | ▲ +7.6% |
| 2016 | 0.81x | $2.88 Billion | $2.35 Billion | ▼ -24.8% |
| 2015 | 1.08x | $2.13 Billion | $2.31 Billion | ▼ -3.9% |
| 2014 | 1.13x | $1.79 Billion | $2.02 Billion | ▲ +53.7% |
| 2013 | 0.73x | $2.71 Billion | $1.99 Billion | ▼ -5.0% |
| 2012 | 0.77x | $2.90 Billion | $2.24 Billion | ▼ -8.5% |
| 2011 | 0.84x | $2.88 Billion | $2.43 Billion | ▲ +28.0% |
| 2010 | 0.66x | $3.51 Billion | $2.31 Billion | ▼ -42.2% |
| 2009 | 1.14x | $2.21 Billion | $2.52 Billion | ▼ -13.2% |
| 2008 | 1.31x | $2.17 Billion | $2.84 Billion | ▲ +27.5% |
| 2007 | 1.03x | $2.36 Billion | $2.42 Billion | ▲ +69.9% |
| 2006 | 0.61x | $2.41 Billion | $1.46 Billion | ▲ +14.7% |
| 2005 | 0.53x | $2.17 Billion | $1.14 Billion | ▼ -7.0% |
| 2004 | 0.57x | $1.57 Billion | $892.00 Million | ▼ -24.1% |
| 2003 | 0.75x | $1.64 Billion | $1.23 Billion | ▼ -46.7% |
| 2002 | 1.40x | $1.51 Billion | $2.12 Billion | ▼ -25.2% |
| 2001 | 1.88x | $1.69 Billion | $3.17 Billion | ▼ -59.9% |
| 2000 | 4.68x | $459.00 Million | $2.15 Billion | ▲ +10.6% |
| 1999 | 4.23x | $197.00 Million | $834.00 Million | ▲ +332.4% |
| 1998 | 0.98x | $528.00 Million | $517.00 Million | ▼ -63.0% |
| 1997 | 2.65x | $193.00 Million | $511.00 Million | ▼ -4.8% |
| 1996 | 2.78x | $182.00 Million | $506.00 Million | ▲ +246.6% |
| 1995 | 0.80x | $197.00 Million | $158.00 Million | ▲ +1251.9% |
| 1994 | 0.06x | $163.50 Million | $9.70 Million | — |