AES vs NRG Energy
NRG Energy reported revenue of $30.7 billion in fiscal 2025, 2.5 times AES's $12.2 billion in fiscal 2025. AES's revenue fell 0.4% in its latest year, and NRG Energy's grew 9.2%. Free cash flow was −$1.6 billion at AES and $766 million at NRG Energy.
Side by side
| AES | NRG Energy | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Dec 31, 2025 |
| Revenue | $12.2B | $30.7B |
| Revenue growth | −0.4% | 9.2% |
| Revenue growth a year, last 5 years | 4.8% | 27.6% |
| Gross margin | 18.1% | — |
| Operating margin | — | 6.0% |
| Net margin | 7.4% | 2.8% |
| Free cash flow | −$1.6B | $766M |
| Free cash flow margin | −13.3% | 2.5% |
| Return on capital | — | 10.9% |
| Net debt to EBITDA | — | 3.6x |
| Dividends and buybacks | $501M | $1.7B |
| Change in diluted share count | 0.1% | −6.1% |
| Last close | $15.03 | $93.61 |
| P/E at the last close | 5.7× | 24.6× |
| Insider trades, last 12 months | — | sold $2.7 billion |
| Piotroski F-score | — | 6 of 8 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
AESNRG Energy
Operating margin
Percent of revenue
AESNRG Energy
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
AESNRG Energy
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the AES and NRG Energy pages.