The AES Corporation (AES) — Free Cash Flow Generation Index
The AES Corporation (AES) has a Free Cash Flow Generation Index of -0.47x as of March 2026. Free cash flow of $-565.00 Million represents 0% of operating cash flow ($1.20 Billion). Explore AES capex to operating cash flow ratio to see what proportion of operating cash flow is directed to capital expenditures.
FCF Generation Index
Free Cash Flow
Operating Cash Flow
Capital Expenditures
The AES Corporation Free Cash Flow Generation Index (1994–2025)
Historical FCF Generation Index trend for The AES Corporation across 32 annual periods. For the full cash flow conversion analysis, see The AES Corporation operating cash flow efficiency.
Annual Free Cash Flow Generation for The AES Corporation (1994–2025)
Year-by-year Free Cash Flow Generation Index for The AES Corporation. Check AES capex plus investments ratio to assess the company's total reinvestment commitment from operating cash flow.
| Year | FCG Index | Free Cash Flow (USD) | Operating CF | Capital Expenditures | YoY Change |
|---|---|---|---|---|---|
| 2025 | -0.38x | $-1.62 Billion | $4.31 Billion | $5.93 Billion | ▲ +77.6% |
| 2024 | -1.69x | $-4.64 Billion | $2.75 Billion | $7.39 Billion | ▼ -9.1% |
| 2023 | -1.55x | $-4.69 Billion | $3.03 Billion | $7.72 Billion | ▼ -128.6% |
| 2022 | -0.68x | $-1.84 Billion | $2.71 Billion | $4.55 Billion | ▼ -501.0% |
| 2021 | -0.11x | $-214.00 Million | $1.90 Billion | $2.12 Billion | ▼ -136.3% |
| 2020 | 0.31x | $855.00 Million | $2.75 Billion | $1.90 Billion | ▲ +1154.6% |
| 2019 | 0.02x | $61.00 Million | $2.47 Billion | $2.40 Billion | ▼ -73.9% |
| 2018 | 0.09x | $222.00 Million | $2.34 Billion | $2.12 Billion | ▼ -24.4% |
| 2017 | 0.13x | $312.00 Million | $2.49 Billion | $2.18 Billion | ▼ -32.9% |
| 2016 | 0.19x | $539.00 Million | $2.88 Billion | $2.35 Billion | ▲ +329.2% |
| 2015 | -0.08x | $-174.00 Million | $2.13 Billion | $2.31 Billion | ▲ +35.1% |
| 2014 | -0.13x | $-225.00 Million | $1.79 Billion | $2.02 Billion | ▼ -146.9% |
| 2013 | 0.27x | $727.00 Million | $2.71 Billion | $1.99 Billion | ▲ +16.8% |
| 2012 | 0.23x | $665.00 Million | $2.90 Billion | $2.24 Billion | ▲ +45.6% |
| 2011 | 0.16x | $454.00 Million | $2.88 Billion | $2.43 Billion | ▼ -54.0% |
| 2010 | 0.34x | $1.20 Billion | $3.51 Billion | $2.31 Billion | ▲ +346.4% |
| 2009 | -0.14x | $-307.00 Million | $2.21 Billion | $2.52 Billion | ▲ +55.5% |
| 2008 | -0.31x | $-675.00 Million | $2.17 Billion | $2.84 Billion | ▼ -980.7% |
| 2007 | -0.03x | $-68.00 Million | $2.36 Billion | $2.42 Billion | ▼ -107.3% |
| 2006 | 0.39x | $951.00 Million | $2.41 Billion | $1.46 Billion | ▼ -16.4% |
| 2005 | 0.47x | $1.02 Billion | $2.17 Billion | $1.14 Billion | ▲ +9.1% |
| 2004 | 0.43x | $680.00 Million | $1.57 Billion | $892.00 Million | ▲ +71.6% |
| 2003 | 0.25x | $414.00 Million | $1.64 Billion | $1.23 Billion | ▲ +162.5% |
| 2002 | -0.40x | $-608.00 Million | $1.51 Billion | $2.12 Billion | ▲ +54.0% |
| 2001 | -0.88x | $-1.48 Billion | $1.69 Billion | $3.17 Billion | ▲ +76.2% |
| 2000 | -3.68x | $-1.69 Billion | $459.00 Million | $2.15 Billion | ▼ -13.9% |
| 1999 | -3.23x | $-637.00 Million | $197.00 Million | $834.00 Million | ▼ -15620.8% |
| 1998 | 0.02x | $11.00 Million | $528.00 Million | $517.00 Million | ▲ +101.3% |
| 1997 | -1.65x | $-318.00 Million | $193.00 Million | $511.00 Million | ▲ +7.4% |
| 1996 | -1.78x | $-324.00 Million | $182.00 Million | $506.00 Million | ▼ -999.2% |
| 1995 | 0.20x | $39.00 Million | $197.00 Million | $158.00 Million | ▼ -79.0% |
| 1994 | 0.94x | $153.80 Million | $163.50 Million | $9.70 Million | — |