VST · Vistra Corp. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $17.74B | $17.22B | $14.78B | $15.63B | $17.70B | $11.44B |
| Cost of Revenue | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - |
| R&D | - | - | - | - | - | - |
| SG&A | $1.71B | $1.60B | $1.31B | $1.19B | $1.04B | $1.03B |
| Total Operating Expenses | - | - | - | - | - | - |
| D&A | $1.99B | $1.84B | $1.50B | $1.60B | $1.75B | $1.74B |
| Operating Income | $1.91B | $4.08B | $2.66B | ($1.18B) | ($1.51B) | $1.52B |
| Interest Expense | $1.18B | $900.00M | $740.00M | $368.00M | $384.00M | $630.00M |
| Income Tax | $179.00M | $655.00M | $508.00M | ($350.00M) | ($458.00M) | $266.00M |
| Net Income | $944.00M | $2.66B | $1.49B | ($1.23B) | ($1.27B) | $636.00M |
| EPS - Basic | $2.22 | $7.16 | $3.63 | ($3.26) | ($2.69) | $1.30 |
| EPS - Diluted | $2.18 | $7.00 | $3.58 | ($3.26) | ($2.69) | $1.30 |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $785.00M | $1.19B | $3.48B | $455.00M | $1.32B | $406.00M |
| Accounts Receivable | $2.32B | $1.98B | $1.67B | $2.06B | $1.40B | $1.28B |
| Inventory | - | $970.00M | $740.00M | $570.00M | $610.00M | $515.00M |
| Accounts Payable | $1.64B | $1.51B | $1.15B | $1.56B | $1.51B | $880.00M |
| Current Assets | $9.18B | $8.12B | $11.64B | $11.12B | $7.88B | $3.43B |
| Total Assets | $41.55B | $37.77B | $32.97B | $32.79B | $29.68B | $25.21B |
| Current Liabilities | $11.81B | $8.43B | $9.82B | $10.34B | $5.84B | $3.04B |
| Long-term Debt | $17.04B | $16.30B | $14.40B | - | - | - |
| Total Liabilities | $36.44B | $32.19B | $27.64B | $27.87B | $21.39B | $16.85B |
| Stockholders' Equity | $5.10B | $5.57B | $5.31B | $4.90B | $8.29B | $8.37B |
| Retained Earnings | ($12.00M) | ($454.00M) | ($2.61B) | ($3.64B) | ($1.96B) | ($399.00M) |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $4.07B | $4.56B | $5.45B | $485.00M | ($206.00M) | $3.34B |
| Investing Cash Flow | ($4.40B) | ($5.28B) | ($2.15B) | ($1.24B) | ($1.15B) | ($1.57B) |
| Financing Cash Flow | ($74.00M) | ($1.60B) | ($294.00M) | ($80.00M) | $2.27B | ($1.80B) |
| CapEx | $2.75B | $2.08B | $1.68B | $1.30B | $1.03B | $1.26B |
| Free Cash Flow | $1.32B | $2.48B | $3.78B | ($816.00M) | ($1.24B) | $2.08B |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | - | - | - | - | - | - |
| Operating margin | 10.7% | 23.7% | 18.0% | -7.5% | -8.6% | 13.3% |
| EBITDA margin | 21.9% | 34.4% | 28.2% | 2.7% | 1.3% | 28.5% |
| Net margin | 5.3% | 15.4% | 10.1% | -7.8% | -7.2% | 5.6% |
| Free cash flow margin | 7.4% | 14.4% | 25.6% | -5.2% | -7.0% | 18.2% |
| FCF / Net income | 1.40 | 0.93 | 2.53 | 0.67 | 0.97 | 3.27 |
| R&D / Revenue | - | - | - | - | - | - |
| SG&A / Revenue | 9.7% | 9.3% | 8.9% | 7.6% | 5.9% | 9.0% |
| Effective tax rate | 15.9% | 19.8% | 25.4% | - | - | 29.5% |
| Return on assets | 2.3% | 7.0% | 4.5% | -3.7% | -4.3% | 2.5% |
| Return on equity | 18.5% | 47.7% | 28.1% | -25.0% | -15.4% | 7.6% |
| Return on invested capital | 7.2% | 15.0% | 10.1% | - | - | - |
| Liquidity | ||||||
| Current ratio | 0.78 | 0.96 | 1.18 | 1.08 | 1.35 | 1.13 |
| Quick ratio | 0.78 | 0.85 | 1.11 | 1.02 | 1.24 | 0.96 |
| Cash ratio | 0.07 | 0.14 | 0.35 | 0.04 | 0.23 | 0.13 |
| Leverage | ||||||
| Debt / Equity | 3.34 | 2.93 | 2.71 | - | - | - |
| Debt / Assets | 0.41 | 0.43 | 0.44 | - | - | - |
| Debt / EBITDA | 4.38 | 2.75 | 3.46 | - | - | - |
| Interest coverage | 1.6x | 4.5x | 3.6x | -3.2x | -3.9x | 2.4x |
| Equity multiplier | 8.15 | 6.78 | 6.21 | 6.69 | 3.58 | 3.01 |
| Liabilities / Assets | 0.88 | 0.85 | 0.84 | 0.85 | 0.72 | 0.67 |
| Efficiency | ||||||
| Asset turnover | 0.43 | 0.46 | 0.45 | 0.48 | 0.60 | 0.45 |
| Inventory turnover | - | - | - | - | - | - |
| Days sales outstanding | 48d | 42d | 41d | 48d | 29d | 41d |
| Days inventory outstanding | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | 74.0x | 19.7x | 10.8x | - | - | 15.1x |
| P / B | 10.9x | 8.7x | 2.7x | 2.0x | 1.3x | 1.2x |
| P / S | 3.1x | 2.8x | 1.0x | 0.6x | 0.6x | 0.8x |
| EV / EBITDA | 18.5x | 10.8x | 6.1x | 22.3x | 40.6x | 2.8x |
| Growth | ||||||
| Revenue growth (YoY) | 3.0% | 16.5% | -5.5% | -11.7% | 54.7% | -3.1% |
| Revenue CAGR (3y) | 4.3% | -0.9% | 8.9% | 9.8% | - | - |
| Revenue CAGR (5y) | 9.2% | 7.8% | - | - | - | - |
| Gross profit growth (YoY) | - | - | - | - | - | - |
| Operating income growth (YoY) | -53.3% | 53.4% | - | 22.3% | - | -23.8% |
| Net income growth (YoY) | -64.5% | 78.1% | - | 3.7% | - | - |
| EPS growth (YoY) | -68.9% | 95.5% | - | -21.2% | - | - |
| EPS CAGR (3y) | - | - | 40.2% | - | - | - |
| EPS CAGR (5y) | 10.9% | - | - | - | - | - |
| FCF growth (YoY) | -47.0% | -34.2% | - | 34.1% | - | -6.2% |
| FCF CAGR (5y) | -8.7% | 2.3% | - | - | - | - |
| Book value growth (YoY) | -8.5% | 5.0% | 8.3% | -40.9% | -1.0% | 5.2% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$26.27B totalRetail Segment$14.34B · 54.6%
East Segment$6.17B · 23.5%
Texas Segment$5.35B · 20.4%
West Segment$325.00M · 1.2%
Asset Closure Segment$74.00M · 0.3%
Product / service
$17.29B totalRetail Energy Charge In ERCOT$8.97B · 51.8%
Retail Energy Charge In Northeast Midwest$4.06B · 23.5%
Total Other Revenues$1.31B · 7.6%
Hedging Revenue Realized$1.21B · 7.0%
Wholesale Generation Revenue From ERCOT$464.00M · 2.7%
Revenue From Other Wholesale Contracts$454.00M · 2.6%
Transferable Production Tax Credit Revenues$229.00M · 1.3%
Capacity Revenue$227.00M · 1.3%
Transferable Nuclear Production Tax Credit Revenues$220.00M · 1.3%
Intersegment Sales$107.00M · 0.6%
Business Interruption Insurance Proceeds$47.00M · 0.3%
Hedging And Other Revenues($2.00M) · -0.0%
Intangible Amortization And Other Revenues($2.00M) · -0.0%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
0.58
Distress
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
4/9
Neutral
- ✓Net income positive
- ✓Operating cash flow positive
- ✗ROA improved YoY
- ✓Cash flow > net income
- ✗Long-term debt decreased
- ✗Current ratio improved
- ✓No share dilution
- -Gross margin improved
- ✗Asset turnover improved
Peer comparison
Same SIC group: Electric Services
Comparing Vistra Corp. against the 5 most active filers in the same SIC group.
Dividends
$0.91/share trailing 12 months · +2.5% YoY
| Ex-date | Per share |
|---|---|
| Mar 20, 2026 | $0.2280 |
| Dec 22, 2025 | $0.2270 |
| Sep 19, 2025 | $0.2260 |
| Jun 18, 2025 | $0.2250 |
| Mar 20, 2025 | $0.2240 |
| Dec 20, 2024 | $0.2220 |
| Sep 20, 2024 | $0.2200 |
| Jun 18, 2024 | $0.2180 |
| Mar 19, 2024 | $0.2150 |
| Dec 19, 2023 | $0.2130 |
| Sep 19, 2023 | $0.2060 |
| Jun 20, 2023 | $0.2040 |
| Mar 21, 2023 | $0.1980 |
| Dec 19, 2022 | $0.1930 |
| Sep 20, 2022 | $0.1840 |
| Jun 21, 2022 | $0.1770 |
| Mar 21, 2022 | $0.1700 |
| Dec 15, 2021 | $0.1500 |
| Sep 15, 2021 | $0.1500 |
| Jun 15, 2021 | $0.1500 |
| Mar 16, 2021 | $0.1500 |
| Dec 15, 2020 | $0.1350 |
| Sep 15, 2020 | $0.1350 |
| Jun 15, 2020 | $0.1350 |