AES vs Entergy
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KIRAβs take AI analyst
I put AES and Entergy side by side, using each oneβs latest annual report. Here is what stands out:
- Entergy is the larger business, with $12.9B of revenue in fiscal 2025 against $12.2B for AES.
- Entergy grew revenue faster (9.0%, against β0.4%).
- AES turned more of its sales into free cash flow (β13.3% FCF margin, against β19.6%).
- Investors pay more for each dollar of Entergyβs earnings: a P/E of 27.7x against 5.7x for AES.
Who comes out ahead
Of the 6 measures where higher (or lower) is clearly better, how many each company leads.
AES
AES
3/6
FCF marginReturn on equityShare count change
Entergy
ETR
3/6
Revenue growth5-year growthNet margin
Side by side
Best in the row
| Latest fiscal year | AES FY25 | ETR FY25 |
|---|---|---|
| Size | ||
| Market cap | $10.7B | $50.1B |
| Revenue | $12.2B | $12.9B |
| Free cash flow | β$1.6B | β$2.5B |
| Net income | $910M | $1.8B |
| Growth | ||
| Revenue growth | β0.4% | 9.0% |
| 5-year growth | 4.8% | 5.1% |
| Share count change | 0.1% | 4.3% |
| Profitability | ||
| Gross margin | 18.1% | β |
| Operating margin | β | 24.7% |
| Net margin | 7.4% | 13.7% |
| FCF margin | β13.3% | β19.6% |
| Return on capital | β | 5.6% |
| Return on equity | 23.6% | 11.1% |
| Balance sheet | ||
| Net debt | β | $29.1B |
| Net debt / EBITDA | β | 5.3x |
| Dividends and buybacks | $501M | $1.1B |
| Valuation & quality | ||
| P/E | 5.7x | 27.7x |
| Piotroski F-score | β | 7 |
Ten years
Revenue
FY16
AES $10.3B
ETR $10.8B
FY17
AES $10.5B
ETR $11.1B
FY18
AES $10.7B
ETR $11.0B
FY19
AES $10.2B
ETR $10.9B
FY20
AES $9.7B
ETR $10.1B
FY21
AES $11.1B
ETR $11.7B
FY22
AES $12.6B
ETR $13.8B
FY23
AES $12.7B
ETR $12.1B
FY24
AES $12.3B
ETR $11.9B
FY25
AES $12.2B
ETR $12.9B
AES
ETR
Operating margin
FY16
AES β
ETR β7.5%
FY17
AES β
ETR 12.3%
FY18
AES β
ETR 4.3%
FY19
AES β
ETR 12.8%
FY20
AES β
ETR 17.5%
FY21
AES β
ETR 15.7%
FY22
AES β
ETR 14.9%
FY23
AES β
ETR 21.6%
FY24
AES β
ETR 22.3%
FY25
AES β
ETR 24.7%
AES
ETR
Free cash flow
FY16
AES $552M
ETR $218M
FY17
AES $327M
ETR β$984M
FY18
AES $222M
ETR β$1.6B
FY19
AES $61.0M
ETR β$1.4B
FY20
AES $855M
ETR $2.4B
FY21
AES β$214M
ETR $2.1B
FY22
AES β$1.8B
ETR β$2.5B
FY23
AES β$4.7B
ETR β$146M
FY24
AES β$4.6B
ETR β$350M
FY25
AES β$1.6B
ETR β$2.5B
AES
ETR
Return on capital
FY16
AES β
ETR β3.0%
FY17
AES β
ETR 3.0%
FY18
AES β
ETR 1.5%
FY19
AES β
ETR 5.0%
FY20
AES β
ETR 5.6%
FY21
AES β
ETR 4.4%
FY22
AES β
ETR 5.3%
FY23
AES β
ETR 6.5%
FY24
AES β
ETR 4.6%
FY25
AES β
ETR 5.6%
AES
ETR
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.