NYSE : VST
Vistra Corp. — Financial statements
Utilities · Utilities - Independent Power Producers · United States
Last price 140.95 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 47.31B
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Financial statements
Vistra Corp. (VST) reported revenue of 19.21B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 19.21B | 17.74B | 17.22B | 14.78B | 13.73B | 12.08B |
| Fuel & Purchased Power | 8.98B | 9.10B | 7.29B | 7.56B | 10.40B | 9.17B |
| Selling, General & Admin | 1.71B | 1.70B | 1.60B | 1.31B | 1.19B | 1.04B |
| Depreciation & Amortization | 1.85B | 1.99B | 1.84B | 1.50B | 1.60B | 1.75B |
| Other Operating Expenses | 2.87B | 2.74B | 2.37B | 1.66B | 1.65B | 1.57B |
| Total Operating Expenses | 15.41B | 15.53B | 13.10B | 12.03B | 14.83B | 13.53B |
| Operating Income | 3.80B | 2.21B | 4.12B | 2.75B | -1.10B | -1.45B |
| Interest Expense | -997.00M | -1.09B | -840.00M | -679.00M | -340.00M | -350.00M |
| Interest Income | 19.00M | 18.00M | 65.00M | 86.00M | 19.00M | |
| Net Interest Expense | -978.00M | -1.08B | -775.00M | -593.00M | -321.00M | -350.00M |
| Other Non-Operating Income (Expenses) | 162.00M | 174.00M | 116.00M | -219.00M | -13.00M | -13.00M |
| EBT Excluding Unusual Items | 2.99B | 1.31B | 3.46B | 1.94B | -1.44B | -1.81B |
| Total Merger & Restructuring Charges | -17.00M | -17.00M | ||||
| Gain (Loss) on Sale of Assets | 6.00M | 95.00M | 8.00M | 9.00M | ||
| Asset Writedown | -160.00M | -228.00M | -49.00M | -74.00M | -71.00M | |
| Insurance Settlements | 131.00M | 160.00M | 23.00M | 24.00M | 70.00M | 88.00M |
| Other Unusual Items | -137.00M | -102.00M | -24.00M | -8.00M | -127.00M | 67.00M |
| Pretax Income | 2.80B | 1.12B | 3.47B | 2.00B | -1.56B | -1.72B |
| Income Tax Expense | 584.00M | 179.00M | 655.00M | 508.00M | -350.00M | -458.00M |
| Earnings From Continuing Ops. | 2.22B | 944.00M | 2.81B | 1.49B | -1.21B | -1.26B |
| Minority Interest in Earnings | -153.00M | 1.00M | -17.00M | -10.00M | ||
| Net Income | 2.22B | 944.00M | 2.66B | 1.49B | -1.23B | -1.27B |
| Preferred Dividends & Other Adjustments | 192.00M | 192.00M | 192.00M | 150.00M | 150.00M | 21.00M |
| Net Income to Common | 2.03B | 752.00M | 2.47B | 1.34B | -1.38B | -1.29B |
| Shares Outstanding (Basic) | 337.99M | 339.12M | 344.79M | 369.77M | 422.45M | 482.21M |
| Shares Outstanding (Diluted) | 346.13M | 345.66M | 352.57M | 375.19M | 422.45M | 482.21M |
| EPS (Basic) | 6.00 | 2.22 | 7.16 | 3.63 | -3.26 | -2.69 |
| EPS (Diluted) | 5.87 | 2.18 | 7.00 | 3.58 | -3.26 | -2.69 |
| Free Cash Flow | 2.25B | 1.32B | 2.48B | 3.78B | -816.00M | -1.24B |
| Free Cash Flow Per Share | 6.51 | 3.81 | 7.05 | 10.07 | -1.93 | -2.57 |
| Dividend Per Share | 0.91 | 0.90 | 0.87 | 0.82 | 0.72 | 0.60 |
| Profit Margin | 10.55% | 4.24% | 14.32% | 9.09% | -10.03% | -10.72% |
| Free Cash Flow Margin | 11.74% | 7.43% | 14.43% | 25.56% | -5.94% | -10.26% |
| EBITDA | 6.65B | 5.23B | 6.81B | 4.68B | 909.00M | 562.00M |
| EBITDA Margin | 34.59% | 29.47% | 39.52% | 31.68% | 6.62% | 4.65% |
| D&A For EBITDA | 2.84B | 3.02B | 2.69B | 1.93B | 2.01B | 2.01B |
| EBIT | 3.80B | 2.21B | 4.12B | 2.75B | -1.10B | -1.45B |
| EBIT Margin | 19.79% | 12.48% | 23.93% | 18.61% | -8.04% | -12.02% |
| Effective Tax Rate | 20.84% | 15.94% | 18.89% | 25.40% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 435.00M | 785.00M | 1.19B | 3.48B | 455.00M | 1.32B |
| Trading Asset Securities | 10.00M | 34.00M | 53.00M | 92.00M | 14.00M | |
| Accounts Receivable | 2.29B | 2.32B | 1.98B | 1.67B | 2.06B | 1.40B |
| Other Receivables | 6.00M | 27.00M | 559.00M | |||
| Inventory | 1.04B | 1.02B | 970.00M | 740.00M | 570.00M | 610.00M |
| Prepaid Expenses | 832.00M | 654.00M | 523.00M | 364.00M | 293.00M | 195.00M |
| Restricted Cash | 41.00M | 31.00M | 28.00M | 40.00M | 37.00M | 21.00M |
| Other Current Assets | 5.63B | 4.36B | 3.39B | 5.28B | 7.58B | 3.76B |
| Total Current Assets | 10.28B | 9.18B | 8.12B | 11.64B | 11.12B | 7.88B |
| Property, Plant & Equipment | 18.46B | 18.61B | 16.84B | 12.10B | 12.34B | 12.88B |
| Net Nuclear Fuel | 1.48B | 1.33B | 1.43B | 379.00M | 268.00M | 212.00M |
| Regulatory Assets | 40.00M | |||||
| Goodwill | 2.81B | 2.81B | 2.81B | 2.58B | 2.58B | 2.58B |
| Other Intangible Assets | 2.29B | 2.44B | 2.21B | 1.86B | 1.96B | 2.15B |
| Long-Term Investments | 5.33B | 5.10B | 4.57B | 25.00M | 53.00M | 8.00M |
| Long-Term Deferred Tax Assets | 213.00M | 239.00M | 9.00M | 1.22B | 1.71B | 1.30B |
| Other Long-Term Assets | 1.74B | 1.84B | 1.77B | 3.15B | 2.72B | 2.67B |
| Total Assets | 42.60B | 41.55B | 37.77B | 32.97B | 32.79B | 29.68B |
| Accounts Payable | 1.50B | 1.64B | 1.51B | 1.15B | 1.56B | 1.51B |
| Accrued Expenses | 377.00M | 420.00M | 410.00M | 418.00M | 367.00M | 359.00M |
| Short-Term Debt | 300.00M | 3.02B | 750.00M | 1.07B | ||
| Current Portion of Long-Term Debt | 2.49B | 1.84B | 1.60B | 2.31B | 85.00M | 313.00M |
| Current Portion of Leases | 17.00M | 22.00M | 16.00M | 17.00M | 13.00M | |
| Other Current Liabilities | 5.89B | 4.86B | 4.14B | 5.93B | 7.24B | 3.64B |
| Total Current Liabilities | 10.56B | 11.81B | 8.43B | 9.82B | 10.34B | 5.84B |
| Long-Term Debt | 17.72B | 15.85B | 16.06B | 12.14B | 11.97B | 10.63B |
| Long-Term Leases | 310.00M | 316.00M | 275.00M | 282.00M | 273.00M | |
| Pension & Post-Retirement Benefits | 102.00M | 125.00M | 247.00M | 237.00M | 276.00M | |
| Long-Term Deferred Tax Liabilities | 1.27B | 1.05B | 697.00M | 1.00M | 1.00M | |
| Other Long-Term Liabilities | 7.56B | 7.31B | 6.56B | 5.16B | 5.04B | 4.36B |
| Total Liabilities | 37.11B | 36.44B | 32.19B | 27.64B | 27.87B | 21.39B |
| Preferred Stock, Redeemable | 2.48B | 2.48B | 2.48B | 2.48B | 2.00B | 2.00B |
| Common Stock | 5.00M | 5.00M | 5.00M | 5.00M | 5.00M | 5.00M |
| Additional Paid-In Capital | 9.54B | 9.54B | 9.44B | 10.10B | 9.93B | 9.82B |
| Retained Earnings | 1.08B | -12.00M | -454.00M | -2.61B | -3.64B | -1.96B |
| Treasury Stock | -7.63B | -6.92B | -5.91B | -4.66B | -3.40B | -1.56B |
| Comprehensive Income & Other | 16.00M | 17.00M | 20.00M | 6.00M | 7.00M | -16.00M |
| Total Common Equity | 3.01B | 2.62B | 3.09B | 2.83B | 2.90B | 6.29B |
| Minority Interest | 12.00M | 13.00M | 13.00M | 15.00M | 16.00M | 1.00M |
| Shareholders' Equity | 5.49B | 5.11B | 5.58B | 5.32B | 4.92B | 8.29B |
| Total Liabilities & Equity | 42.60B | 41.55B | 37.77B | 32.97B | 32.79B | 29.68B |
| Total Debt | 20.51B | 21.05B | 18.75B | 14.74B | 13.43B | 11.23B |
| Net Cash (Debt) | -20.07B | -20.25B | -17.53B | -11.20B | -12.88B | -9.89B |
| Net Cash Per Share | -57.99 | -58.60 | -49.71 | -29.86 | -30.49 | -20.52 |
| Filing Date Shares Outstanding | 335.64M | 336.95M | 338.96M | 347.89M | 381.45M | 448.80M |
| Total Common Shares Outstanding | 335.96M | 338.06M | 339.70M | 351.14M | 389.75M | 469.07M |
| Working Capital | -281.00M | -2.63B | -313.00M | 1.81B | 779.00M | 2.04B |
| Book Value Per Share | 8.95 | 7.75 | 9.11 | 8.06 | 7.45 | 13.41 |
| Tangible Book Value | -2.09B | -2.62B | -1.93B | -1.62B | -1.64B | 1.56B |
| Tangible Book Value Per Share | -6.22 | -7.76 | -5.67 | -4.60 | -4.21 | 3.33 |
| Land | 636.00M | 637.00M | 603.00M | 572.00M | 584.00M | 608.00M |
| Machinery | 25.81B | 25.08B | 22.94B | 17.46B | 16.76B | 16.38B |
| Construction In Progress | 1.84B | 1.92B | 1.06B | 522.00M | 522.00M | 486.00M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 2.22B | 944.00M | 2.66B | 1.49B | -1.23B | -1.27B |
| Depreciation & Amortization | 2.84B | 3.02B | 2.69B | 1.93B | 2.01B | 2.01B |
| Other Amortization | 66.00M | 69.00M | 60.00M | 58.00M | 69.00M | 74.00M |
| Loss (Gain) on Sale of Assets | -95.00M | -8.00M | -9.00M | |||
| Loss (Gain) on Sale of Investments | -14.00M | 67.00M | -53.00M | 36.00M | -250.00M | -134.00M |
| Asset Writedown | 160.00M | 228.00M | 49.00M | 74.00M | 71.00M | |
| Stock-Based Compensation | 134.00M | 113.00M | 100.00M | 77.00M | 63.00M | 47.00M |
| Change in Accounts Receivable | -528.00M | -528.00M | -242.00M | 214.00M | -852.00M | -228.00M |
| Change in Inventory | -3.00M | -3.00M | -31.00M | -174.00M | 36.00M | -100.00M |
| Change in Accounts Payable | 16.00M | 16.00M | 19.00M | -350.00M | 94.00M | 402.00M |
| Change in Income Taxes | 27.00M | 27.00M | -1.00M | 5.00M | -8.00M | -20.00M |
| Change in Other Net Operating Assets | -313.00M | -696.00M | -249.00M | 1.81B | -1.94B | -1.45B |
| Other Operating Activities | 313.00M | 617.00M | -567.00M | 231.00M | 2.24B | 286.00M |
| Operating Cash Flow | 5.12B | 4.07B | 4.56B | 5.45B | 485.00M | -206.00M |
| Capital Expenditures | -2.87B | -2.75B | -2.08B | -1.68B | -1.30B | -1.03B |
| Sale of Property, Plant & Equipment | 169.00M | 119.00M | 196.00M | 115.00M | 78.00M | 30.00M |
| Cash Acquisitions | -1.14B | -1.14B | -3.06B | |||
| Sale (Purchase) of Intangibles | -620.00M | -914.00M | -453.00M | -571.00M | -28.00M | -213.00M |
| Contributions to Nuclear Demissioning Trust | -5.18B | -5.18B | -2.24B | -624.00M | -693.00M | -505.00M |
| Other Investing Activities | 5.63B | 5.47B | 2.36B | 611.00M | 705.00M | 568.00M |
| Investing Cash Flow | -4.00B | -4.40B | -5.28B | -2.15B | -1.24B | -1.15B |
| Short-Term Debt Issued | 475.00M | 750.00M | 425.00M | 1.25B | ||
| Long-Term Debt Issued | 5.54B | 5.67B | 2.60B | 6.40B | 3.20B | |
| Total Debt Issued | 11.27B | 6.02B | 6.42B | 2.60B | 6.82B | 4.45B |
| Short-Term Debt Repaid | -425.00M | -1.55B | ||||
| Long-Term Debt Repaid | -3.82B | -4.14B | -783.00M | -4.50B | -1.83B | |
| Total Debt Repaid | -9.92B | -3.82B | -4.14B | -1.21B | -4.50B | -3.38B |
| Net Debt Issued (Repaid) | 1.35B | 2.20B | 2.28B | 1.39B | 2.32B | 1.07B |
| Repurchase of Common Stock | -1.17B | -1.03B | -1.39B | -1.25B | -1.95B | -471.00M |
| Common Dividends Paid | -308.00M | -306.00M | -305.00M | -313.00M | -302.00M | -290.00M |
| Preferred Dividends Paid | -192.00M | -192.00M | -173.00M | -150.00M | -151.00M | |
| Dividends Paid | -500.00M | -498.00M | -478.00M | -463.00M | -453.00M | -290.00M |
| Other Financing Activities | -811.00M | -745.00M | -2.02B | 24.00M | -34.00M | |
| Financing Cash Flow | -1.13B | -74.00M | -1.60B | -294.00M | -80.00M | 2.27B |
| Net Cash Flow | -14.00M | -400.00M | -2.32B | 3.01B | -834.00M | 915.00M |
| Free Cash Flow | 2.25B | 1.32B | 2.48B | 3.78B | -816.00M | -1.24B |
| Free Cash Flow Margin | 11.74% | 7.43% | 14.43% | 25.56% | -5.94% | -10.26% |
| Free Cash Flow Per Share | 6.51 | 3.81 | 7.05 | 10.07 | -1.93 | -2.57 |
| Levered Free Cash Flow | 37.12M | -388.25M | 2.13B | 1.92B | -466.88M | -810.25M |
| Unlevered Free Cash Flow | 660.25M | 296.12M | 2.65B | 2.35B | -254.38M | -591.50M |
| Cash Interest Paid | 986.00M | 1.04B | 910.00M | 599.00M | 552.00M | 456.00M |
| Change in Working Capital | -801.00M | -1.18B | -504.00M | 1.51B | -2.67B | -1.39B |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 45.18B | 54.66B | 46.91B | 13.77B | 9.23B | 10.99B |
| Enterprise Value | 65.25B | 75.38B | 67.51B | 26.58B | 23.62B | 22.52B |
| PE Ratio | 22.95 | 72.69 | 19.01 | 10.26 | ||
| PS Ratio | 2.35 | 3.08 | 2.72 | 0.93 | 0.67 | 0.91 |
| PB Ratio | 15.04 | 10.70 | 8.40 | 2.59 | 1.88 | 1.32 |
| P/FCF Ratio | 20.04 | 41.47 | 18.88 | 3.65 | ||
| P/OCF Ratio | 8.82 | 13.43 | 10.28 | 2.53 | 19.04 | |
| EV/Sales Ratio | 3.40 | 4.25 | 3.92 | 1.80 | 1.72 | 1.86 |
| EV/EBITDA Ratio | 9.82 | 14.42 | 9.92 | 5.68 | 25.98 | 40.06 |
| EV/EBIT Ratio | 17.16 | 34.06 | 16.38 | 9.66 | ||
| EV/FCF Ratio | 28.94 | 57.20 | 27.17 | 7.04 | ||
| Debt / Equity Ratio | 3.73 | 4.12 | 3.36 | 2.77 | 2.73 | 1.35 |
| Debt / EBITDA Ratio | 3.09 | 3.98 | 2.71 | 3.09 | 13.60 | 17.83 |
| Debt / FCF Ratio | 9.09 | 15.97 | 7.54 | 3.90 | ||
| Net Debt / Equity Ratio | 3.65 | 3.96 | 3.14 | 2.10 | 2.62 | 1.19 |
| Net Debt / EBITDA Ratio | 3.02 | 3.87 | 2.58 | 2.39 | 14.17 | 17.61 |
| Net Debt / FCF Ratio | 8.90 | 15.37 | 7.05 | 2.97 | -15.79 | -7.99 |
| Quick Ratio | 0.26 | 0.26 | 0.38 | 0.53 | 0.26 | 0.56 |
| Current Ratio | 0.97 | 0.78 | 0.96 | 1.19 | 1.07 | 1.35 |
| Asset Turnover | 0.48 | 0.45 | 0.49 | 0.45 | 0.44 | 0.44 |
| Return on Equity (ROE) | 42.96% | 17.66% | 51.57% | 29.14% | -18.32% | -15.18% |
| Return on Assets (ROA) | 5.89% | 3.49% | 7.28% | 5.23% | -2.21% | -3.31% |
| Return on Capital Employed (ROCE) | 11.90% | 7.40% | 14.00% | 11.90% | -4.90% | -6.10% |
| Earnings Yield | 4.36% | 1.73% | 5.67% | 10.84% | -13.29% | -11.59% |
| FCF Yield | 4.99% | 2.41% | 5.30% | 27.42% | -8.84% | -11.27% |
| Dividend Yield | 0.68% | 0.56% | 0.63% | 2.09% | 3.06% | 2.56% |
| Payout Ratio | 15.65% | 52.75% | 17.98% | 31.01% | ||
| Buyback Yield / Dilution | -0.45% | 1.96% | 6.03% | 11.19% | 12.39% | 1.81% |
| Total Shareholder Return | 0.24% | 2.52% | 6.66% | 13.28% | 15.45% | 4.37% |