The AES Corporation Capital Reinvestment Ratio
The AES Corporation 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). See free cash flow generation of The AES Corporation to measure how efficiently the company converts operating cash flow to free cash.
Capital Reinvestment Ratio
Operating Cash Flow
Capital Expenditures
Data as of
Capital Reinvestment Ratio of The AES Corporation (1994–2025)
Capital reinvestment ratio of The AES Corporation from 1994 to 2025. This chart tracks The AES Corporation's Capital Reinvestment Ratio across 32 annual periods. See The AES Corporation financial flexibility index to measure the company's free cash flow as a share of total liabilities.
The AES Corporation Capital Reinvestment Ratio by Year (1994–2025)
The AES Corporation capital reinvestment ratio by year from 1994 to 2025. For the full cash flow conversion analysis, see The AES Corporation cash conversion from operations.
| 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 | — |