The AESFRA:AES -0.39%76 PB Ratio is 2.38 as of Jun. 28, 2026, which is 33% below its 10-year median of 3.55. GuruFocus rates FRA:AES with a GF Score™ of 76/100 and a GF Value™ of €12.98 (Fairly Valued). The stock has 9 warning signs investors should review. Among 502 Utilities - Regulated companies, The AES ranks worse than 77.29% on this metric.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. As of today (2026-06-28), The AES's share price is €12.75. The AES's Book Value per Share for the quarter that ended in Mar. 2026 was €5.36. Hence, The AES's PB Ratio of today is 2.38.
Good Sign:
The AES Corp stock PB Ratio (=2.37) is close to 1-year low of 2.3.
The historical rank and industry rank for The AES's PB Ratio or its related term are showing as below:
FRA:AES'
s PB Ratio Range Over the Past 10 Years
Min: 1.94 Med: 3.55 Max: 11.65
Current: 2.37
During the past 13 years, The AES's highest PB Ratio was 11.65. The lowest was 1.94. And the median was 3.55.
FRA:AES's PB Ratio is ranked worse than 77.29% of 502
companies
in the Utilities - Regulated industry
Industry Median: 1.42
vs FRA:AES: 2.37
During the past 12 months, The AES's average Book Value Per Share Growth Rate was 27.20% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was 33.60% per year.
During the past 5 years, the average Book Value Per Share Growth Rate was 10.60% per year.
During the past 10 years, the average Book Value Per Share Growth Rate was -1.30% per year.
During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of The AES was 72.40% per year. The lowest was -57.70% per year. And the median was 2.10% per year.
The PB Ratio works the best for the businesses that earn most of their profit from their assets, e.g. banks and insurance companies.
Be Aware
Some businesses have very light assets, such as software companies or insurance agencies. The PB Ratio does not work well for these companies. Some companies even have negative equity, so the PB Ratio cannot be applied to them.
The AES PB Ratio Related Terms
The AES PB Ratio Historical Data
* Premium members only.
The historical data trend for The AES's PB Ratio can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Utilities - Diversified subindustry, The AES's PB Ratio, along with its competitors' market caps and PB Ratio data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
The AES PB Ratio vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, The AES's PB Ratio distribution charts can be found below:
* The bar in red indicates where The AES's PB Ratio falls into.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. It is a ratio widely used to value stocks.
The AES's PB Ratio for today is calculated as follows:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called Price-to-Tangible-Book. The difference between Price-to-Tangible-Book and PB Ratio is that book value other than intangibles are used in the calculation.
The AES (FRA:AES) has a PB Ratio of 2.38 as of Jun. 28, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on The AES and its competitors. This is 33% below median its historical median of 3.55. Over the past decade, The AES's PB Ratio has ranged from 1.94 to 11.65. According to the industry distribution chart, The AES ranks #388 out of 502 companies in the Utilities - Regulated industry, placing it in the top 77.3%.
Is The AES's PB Ratio too high?
The AES's current PB Ratio of 2.38 is 33% below median its 10-year median of 3.55. Over the past 10 years, this metric has ranged from a low of 1.94 to a high of 11.65. The Utilities - Regulated industry median PB Ratio is 1.42. The AES's value of 2.38 is 67.6% above this industry median. Based on the distribution chart, The AES ranks #388 out of 502 companies in the Utilities - Regulated industry, which is in the bottom quartile relative to peers. Overall, The AES has a GF Score™ of 76/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does The AES's PB Ratio compare to AVA and UTL?
According to the Utilities - Regulated industry distribution chart, The AES ranks #388 out of 502 companies for PB Ratio. This places The AES in the lower half of its industry. The industry median PB Ratio is 1.42. The AES's value of 2.38 is 67.6% above this benchmark. Historically, The AES's own PB Ratio has ranged from 1.94 to 11.65 over the past decade. While the company's 10-year median is 3.55 vs. the industry median of 1.42, The AES has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good PB Ratio for an Utilities - Regulated company?
The median PB Ratio among Utilities - Regulated companies is 1.42, based on 502 companies in the industry. Companies in the top quartile (top 25%) have a PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. The AES's current PB Ratio of 2.38 is 67.6% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high PB Ratio mean?
A high PB Ratio can signal that a stock is expensive relative to its fundamentals. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on The AES and its competitors. For the Utilities - Regulated industry, the median PB Ratio is 1.42 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. The AES's current PB Ratio is 2.38, which is 33% below median its own 10-year median of 3.55. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is The AES stock overvalued right now?
Based on GuruFocus' analysis, The AES (FRA:AES) is currently considered Fairly Valued. The stock's GF Value™ is €12.98, compared to a current price of €12.75 — trading 1.8% below its estimated fair value. The current PB Ratio is 2.38, which is 33% below median its 10-year median of 3.55 and 67.6% above the Utilities - Regulated industry median of 1.42. The AES's overall GF Score™ is 76/100 with 9 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is PB Ratio calculated?
PB Ratio is calculated from a company's financial statements. For The AES (FRA:AES), the current PB Ratio is 2.38 as of Jun. 28, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is The AES (FRA:AES) Overvalued in 2026?
Based on GuruFocus' analysis, The AES stock appears to be undervalued.
The current stock price of €12.75 is trading 1.8% below its estimated GF Value™ of €12.98.
GuruFocus considers The AES to be Fairly Valued.
Key valuation signals for FRA:AES:
PB Ratio: 2.38 (33% below median its 10-year median of 3.55)
GF Value™: €12.98 vs. price of €12.75 (1.8% below fair value)
Industry Position: 67.6% above the Utilities - Regulated median (#388 of 502)
No single metric tells the full story. See the FRA:AES stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
AES is a global power company that operates in 15 countries. Its generation portfolio totals over 32 gigawatts, including renewable energy, gas, coal, and oil. AES has majority ownership in and operates numerous electric utilities.
76GF Score
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