The AES Corporation (AES)

Debt-to-capital ratio

Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
Long-term debt US$ in thousands
Total stockholders’ equity US$ in thousands 3,644,000 3,378,000 3,175,000 2,900,000 2,488,000 2,779,000 2,492,000 2,362,000 2,437,000 3,409,000 2,995,000 3,044,000 2,798,000 3,482,000 3,265,000 3,377,000 2,634,000 2,004,000 2,462,000 2,539,000
Debt-to-capital ratio 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

December 31, 2024 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $—K ÷ ($—K + $3,644,000K)
= 0.00

The debt-to-capital ratio of The AES Corporation has been consistently recorded as 0.00 from March 31, 2020, to December 31, 2024. This indicates that the company has not utilized any debt in its capital structure during this period. A debt-to-capital ratio of 0.00 suggests that the company's capital is solely financed by equity, which may imply a lower financial risk as there are no obligations to service debt. This could be a strategic decision by the company to maintain a conservative financial structure or an indication of a strong financial position with sufficient internal funds to support operations and growth without relying on external debt financing.