--- title: "AES Corporation Industry Context" description: "Industry Context for AES Corporation (AES)." canonical: https://www.getswoopr.com/stocks/companies/aes-corporation/industry-context/ source: "Swoopr Investment: https://www.getswoopr.com" --- **Direct answer:** This research guide covers industry context analysis for AES Corporation Industry Context using primary SEC filings as the source of record. Each section identifies what to verify, where to find it, and why it matters to an investment decision. Figures must be confirmed against current filings before use. # AES Corporation Industry Context ## How Does AES CORP Sit in Its SEC Industry Classification? AES CORP files under SEC standard industrial classification 4991, Cogeneration Services & Small Power Producers. Among the 88 companies Swoopr covers in SIC major group 49, its latest reported revenue of $12.2 billion ranks 27th. The comparison uses each company's own latest fiscal year, which can differ by up to a year across the group. | Measure | AES CORP (FY2025) | Peer reference | | --- | --- | --- | | Revenue | $12.2 billion | 27th of 88 | | Revenue growth | -0.4% | +9.8% (median of 43 peers with a quarter to four times its revenue) | Companies of similar size in the same classification: [PUBLIC SERVICE ENTERPRISE GROUP INC](https://www.getswoopr.com/stocks/companies/public-service-enterprise-group/) ($12.2 billion), [WILLIAMS COMPANIES, INC.](https://www.getswoopr.com/stocks/companies/williams-companies/) ($11.9 billion), [ENTERGY CORP /DE/](https://www.getswoopr.com/stocks/companies/entergy/) ($12.9 billion), [EVERSOURCE ENERGY](https://www.getswoopr.com/stocks/companies/eversource-energy/) ($13.5 billion), [Tennessee Valley Authority](https://www.getswoopr.com/stocks/companies/tennessee-valley-authority/) ($13.7 billion). A classification code groups companies by how they describe their main business to the SEC, so two companies with the same code can still differ in customers, geography and cost structure. Treat the comparison as a starting point for the questions below. ## Where value can be captured Utility economics span generation or sourcing, transmission, distribution, metering, customer service, and regulated capital recovery. Equipment suppliers, fuel providers, grid operators, regulators, and customers all affect investment needs and returns. For AES Corporation, name suppliers, channels, customers and infrastructure dependencies only when a reliable source establishes the relationship. The goal is to show where the company sits, what it depends on, and where bargaining power resides. ## Industry drivers - Rate-Base Growth: connect this driver to a disclosed KPI and to the financial statement line it influences. - Approved Rates: connect this driver to a disclosed KPI and to the financial statement line it influences. - Capital Expenditures: connect this driver to a disclosed KPI and to the financial statement line it influences. - Customer Growth: connect this driver to a disclosed KPI and to the financial statement line it influences. - Weather: connect this driver to a disclosed KPI and to the financial statement line it influences. - Power Prices Where Merchant Exposure Exists: connect this driver to a disclosed KPI and to the financial statement line it influences. - Financing Costs: connect this driver to a disclosed KPI and to the financial statement line it influences. - Regulatory Outcomes: connect this driver to a disclosed KPI and to the financial statement line it influences. ## Macro connections - Interest Rates: document the transmission mechanism rather than assuming correlation. - Regional Population Growth: document the transmission mechanism rather than assuming correlation. - Electricity Demand: document the transmission mechanism rather than assuming correlation. - Natural-Gas Prices: document the transmission mechanism rather than assuming correlation. - Inflation: document the transmission mechanism rather than assuming correlation. - Environmental And Grid Policy: document the transmission mechanism rather than assuming correlation. ## Peer map A starting peer group from the current S&P 500 classification is **Alliant Energy, Ameren, American Electric Power, American Water Works, Atmos Energy, CMS Energy**. Some may be adjacent rather than direct competitors. The latest AES Corporation filing and credible industry sources should refine the map. ## Questions for the supply-chain map - Which inputs are scarce, concentrated, regulated, or difficult to substitute? - Which layer has the highest switching costs? - Where can capacity expand quickly, and where does it take years? - Which participants bear inventory, credit, commodity, or utilization risk? - Is AES Corporation's advantage located in intellectual property, physical assets, licenses, distribution, brand, data, or customer integration? - Which dependency could become a bottleneck under stress? ## References The evergreen analysis above is anchored to verified index metadata and a filing-first research workflow. Time-sensitive financial figures are refreshed from the latest primary filings. - [S&P Dow Jones Indices: S&P 500](https://www.spglobal.com/spdji/en/indices/equity/sp-500/) - [SEC EDGAR company filings for AES Corporation](https://www.sec.gov/edgar/browse/?CIK=874761&owner=exclude&action=getcompany) - [SEC submissions JSON for CIK 874761](https://data.sec.gov/submissions/CIK0000874761.json) **Source-review rule:** Check any statement about current revenue, margins, management, products, segment mix, guidance, market share or capital allocation against the latest 10-K, 10-Q, 8-K, proxy statement, earnings release or official investor-relations material before relying on it. **[Swoopr Editorial Team](https://www.getswoopr.com/authors/swoopr-editorial-team/)** Swoopr's editorial team produces independent investment education content reviewed for accuracy and clarity. We do not provide personalized financial advice. 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