AES CORP (AES)

Cogeneration Services & Small Power Producers

Latest Price

$14.68

TTM P/E

7.85

Normalized P/E

12.92

Div Yield

3.60%

Book Value

6.20

P/B Ratio

2.37

Valuation metrics

EPS: $1.26

Book value / share: $5.70

Formula: √(22.5 × EPS × BVPS)

Graham Number

$12.72

13% downside

Norm. op. income: $1.2B (median of 7yr)

Tax rate: 7%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$18.09

+23% upside

EPS: $1.26

Target P/E: 13×

Formula: EPS × P/E

P/E Fair Value

$16.38

+12% upside

86.7% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
BlackRock, Inc.	47.17M	$664.0M	6.61%	-387.8K	2026-03-31
VANGUARD CAPITAL MANAGEMENT LLC	46.28M	$652.0M	6.49%	--	2026-03-31
STATE STREET CORP	42.98M	$605.0M	6.03%	-1.62M	2026-03-31
VANGUARD PORTFOLIO MANAGEMENT LLC	35.51M	$500.0M	4.98%	--	2026-03-31
AMERIPRISE FINANCIAL INC	33.07M	$465.0M	4.64%	-1.50M	2026-03-31
GEODE CAPITAL MANAGEMENT, LLC	24.51M	$344.0M	3.44%	-2.09M	2026-03-31
MORGAN STANLEY	24.29M	$342.0M	3.41%	-4.73M	2026-03-31
Invesco Ltd.	18.26M	$257.0M	2.56%	-19.4K	2026-03-31
UBS Group AG	15.38M	$216.0M	2.16%	+10.92M	2026-03-31
SG Americas Securities, LLC	14.28M	$201.0M	2.00%	+7.13M	2026-03-31