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Via Renewables Inc Financials

VIASP
Source SEC Filings (10-K/10-Q) Data as of Mar 31, 2026 Currency USD FYE December

This page shows Via Renewables Inc (VIASP) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 14 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI VIASP FY2025

High cash conversion and minimal reinvestment needs let earnings turn into cash even as FY2025 margins normalized.

FY2025 operating cash flow of $42.1M was more than double net income of $19.2M, showing profit still converted into cash after the post-FY2024 margin reset. Because capital spending was only $3.0M, the business still kept $39.1M of free cash flow; that points to a light reinvestment burden rather than earnings supported by heavy spending.

FY2025 revenue reached $463.5M while gross margin slipped to 30.6%, so bigger sales did not translate into proportionally better economics. Against FY2024's richer margin structure, the step-down in operating and net profitability points to unit economics normalizing rather than a cost base spiraling.

Liquidity looks comfortable, with a current ratio of 2.5x and liabilities below FY2023 levels, but equity quality is more nuanced because goodwill of $120.3M is larger than total equity of $67.7M. That means the reported net worth contains a large acquired-intangibles layer, so the hard-asset cushion is thinner than the equity line alone suggests.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 67 / 100
Financial Health Score 67/100
Scored as: Utilities peer group

Scored against utilities for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Via Renewables Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability
23
Growth
33
Leverage
83
Liquidity
96
Cash Flow
89
Returns
76
Piotroski F-Score Partial
4/8

Via Renewables Inc passes 4 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.

Earnings Quality Cash-Backed
2.20x

For every $1 of reported earnings, Via Renewables Inc generates $2.20 in operating cash flow ($42.1M OCF vs $19.1M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Safe
7.1x

Via Renewables Inc earns $7.1 in operating income for every $1 of interest expense ($53.5M vs $7.5M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.

Key Financial Metrics

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Earnings & Revenue

Revenue
$463.5M
YoY+16.2%
5Y CAGR-3.5%
10Y CAGR+2.6%

Via Renewables Inc generated $463.5M in revenue in fiscal year 2025. This represents an increase of 16.2% from the prior year.

EBITDA
$75.4M
YoY-19.5%
5Y CAGR-8.8%
10Y CAGR+3.1%

Via Renewables Inc's EBITDA was $75.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 19.5% from the prior year.

Net Income
$19.1M
YoY-32.2%
5Y CAGR-6.9%
10Y CAGR+17.4%

Via Renewables Inc reported $19.1M in net income in fiscal year 2025. This represents a decrease of 32.2% from the prior year.

EPS (Diluted)
$2.70
YoY-50.7%
5Y CAGR-16.7%
10Y CAGR+17.7%

Via Renewables Inc earned $2.70 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 50.7% from the prior year.

Cash & Balance Sheet

Free Cash Flow
$39.1M
YoY-20.0%
5Y CAGR-15.3%
10Y CAGR-1.2%

Via Renewables Inc generated $39.1M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 20.0% from the prior year.

Cash & Debt
$41.8M
YoY-21.4%
5Y CAGR-10.2%
10Y CAGR+25.0%

Via Renewables Inc held $41.8M in cash against $120.0M in long-term debt as of fiscal year 2025.

Dividends Per Share
N/A
Shares Outstanding
N/A

Margins & Returns

Gross Margin
30.6%
YoY-11.6pp
5Y CAGR-7.3pp

Via Renewables Inc's gross margin was 30.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 11.6 percentage points from the prior year.

Operating Margin
11.6%
YoY-9.5pp
5Y CAGR-4.5pp
10Y CAGR+3.2pp

Via Renewables Inc's operating margin was 11.6% in fiscal year 2025, reflecting core business profitability. This is down 9.5 percentage points from the prior year.

Net Margin
4.1%
YoY-2.9pp
5Y CAGR-0.8pp
10Y CAGR+3.1pp

Via Renewables Inc's net profit margin was 4.1% in fiscal year 2025, showing the share of revenue converted to profit. This is down 2.9 percentage points from the prior year.

Return on Equity
28.3%
YoY-14.1pp
5Y CAGR-15.2pp
10Y CAGR-29.6pp

Via Renewables Inc's ROE was 28.3% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 14.1 percentage points from the prior year.

Capital Allocation

R&D Spending
N/A
Share Buybacks
N/A
Capital Expenditures
$3.0M
YoY+88.0%
5Y CAGR+6.6%
10Y CAGR+5.3%

Via Renewables Inc invested $3.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 88.0% from the prior year.

VIASP Income Statement

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Revenue $159.0M+24.4% $127.8M+23.7% $103.3M+14.8% $90.0M-36.7% $142.3M+36.3% $104.3M+11.3% $93.8M+8.2% $86.7M
Cost of Revenue $132.6M+58.1% $83.9M+5.6% $79.5M+26.0% $63.1M-33.9% $95.4M+90.0% $50.2M-26.8% $68.6M+59.6% $43.0M
Gross Profit $26.4M-39.9% $43.9M+84.0% $23.9M-11.5% $27.0M-42.4% $46.9M-13.4% $54.1M+115.2% $25.2M-42.4% $43.7M
R&D Expenses N/A N/A N/A N/A N/A N/A N/A N/A
SG&A Expenses $15.7M-15.6% $18.6M+23.8% $15.0M-3.7% $15.6M-8.0% $17.0M-8.7% $18.6M+5.4% $17.7M-15.4% $20.9M
Operating Income $4.8M-75.2% $19.4M+496.0% $3.3M-46.3% $6.1M-75.6% $24.8M-24.3% $32.8M+556.6% $5.0M-75.8% $20.6M
Interest Expense $2.5M+21.9% $2.1M-1.1% $2.1M+35.9% $1.5M-15.3% $1.8M+13.3% $1.6M-3.8% $1.7M-4.4% $1.7M
Income Tax $454K-87.9% $3.8M+379.8% $784K-43.2% $1.4M-70.0% $4.6M-30.4% $6.6M+289.9% $1.7M-47.2% $3.2M
Net Income $2.1M-70.1% $6.9M+805.7% $757K-72.4% $2.7M-68.9% $8.8M-11.4% $9.9M+364.3% $2.1M-72.0% $7.6M
EPS (Diluted) $-0.01 N/A $-0.41-555.6% $0.09-95.1% $1.83 N/A $-0.17-111.3% $1.51

VIASP Balance Sheet

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Total Assets $323.0M-2.5% $331.3M+8.7% $304.8M-3.6% $316.3M-8.9% $347.4M+0.7% $344.9M+15.6% $298.4M-0.4% $299.7M
Current Assets $189.2M-3.6% $196.2M+17.1% $167.6M-5.9% $178.1M-14.0% $207.1M+1.6% $203.8M+30.8% $155.7M-0.4% $156.4M
Cash & Equivalents $50.6M+21.1% $41.8M-22.1% $53.6M-13.7% $62.1M-4.0% $64.7M+21.8% $53.1M-20.2% $66.6M+24.3% $53.6M
Inventory $753K-74.3% $2.9M-18.6% $3.6M+99.3% $1.8M+140.7% $750K-64.9% $2.1M-26.2% $2.9M+43.7% $2.0M
Accounts Receivable $74.2M-13.6% $85.9M+88.6% $45.5M-5.1% $48.0M-31.9% $70.4M+7.6% $65.4M+59.6% $41.0M-16.5% $49.1M
Goodwill $120.3M0.0% $120.3M0.0% $120.3M0.0% $120.3M0.0% $120.3M0.0% $120.3M0.0% $120.3M0.0% $120.3M
Total Liabilities $198.6M-24.6% $263.6M+9.3% $241.1M-2.8% $248.1M-9.7% $274.7M-1.3% $278.2M+15.8% $240.2M-0.5% $241.4M
Current Liabilities $67.9M-11.9% $77.1M+38.1% $55.8M-0.5% $56.1M-20.9% $70.9M-5.1% $74.7M+32.5% $56.4M+6.5% $52.9M
Long-Term Debt $130.0M+8.3% $120.0M+14.3% $105.0M+5.0% $100.0M-1.0% $101.0M-4.7% $106.0M+19.1% $89.0M-4.3% $93.0M
Total Equity $66.3M-2.0% $67.7M+6.3% $63.7M-6.6% $68.2M-6.2% $72.7M+9.0% $66.7M+14.6% $58.2M0.0% $58.3M
Retained Earnings $25.5M-6.0% $27.1M+4.5% $25.9M-15.2% $30.6M-8.5% $33.5M+24.0% $27.0M+40.7% $19.2M-2.9% $19.7M

VIASP Cash Flow Statement

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Operating Cash Flow $9.4M+323.0% -$4.2M-278.4% $2.4M-87.6% $19.0M-23.9% $24.9M+1126.6% $2.0M-89.9% $20.1M+79.2% $11.2M
Capital Expenditures $245K-56.1% $558K+33.5% $418K-27.2% $574K-59.4% $1.4M+209.6% $457K+17.2% $390K+39.3% $280K
Free Cash Flow $9.1M+291.8% -$4.8M-345.5% $1.9M-89.5% $18.4M-21.7% $23.5M+1392.4% $1.6M-92.0% $19.7M+80.2% $10.9M
Investing Cash Flow -$245K+79.0% -$1.2M+20.2% -$1.5M-54.4% -$947K+93.2% -$14.0M-686.8% -$1.8M+19.7% -$2.2M-691.8% -$280K
Financing Cash Flow -$1.4M+81.5% -$7.8M+33.8% -$11.7M+37.6% -$18.8M-38.6% -$13.6M-564.3% $2.9M+143.5% -$6.7M-22.5% -$5.5M
Dividends Paid $2.1M-42.9% $3.6M+17.0% $3.1M-3.1% $3.2M $0 $0 $0 $0
Share Buybacks N/A N/A N/A N/A N/A N/A N/A N/A

VIASP Financial Ratios

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Gross Margin 16.6%-17.8pp 34.4%+11.3pp 23.1%-6.9pp 30.0%-3.0pp 32.9%-18.9pp 51.9%+25.0pp 26.8%-23.6pp 50.4%
Operating Margin 3.0%-12.1pp 15.2%+12.0pp 3.1%-3.6pp 6.7%-10.7pp 17.5%-14.0pp 31.5%+26.1pp 5.3%-18.5pp 23.8%
Net Margin 1.3%-4.1pp 5.4%+4.6pp 0.7%-2.3pp 3.0%-3.1pp 6.2%-3.3pp 9.5%+7.2pp 2.3%-6.5pp 8.8%
Return on Equity 3.1%-7.0pp 10.1%+8.9pp 1.2%-2.8pp 4.0%-8.1pp 12.1%-2.8pp 14.9%+11.2pp 3.7%-9.4pp 13.1%
Return on Assets 0.6%-1.4pp 2.1%+1.8pp 0.3%-0.6pp 0.9%-1.7pp 2.5%-0.3pp 2.9%+2.2pp 0.7%-1.8pp 2.5%
Current Ratio 2.79+0.2 2.55-0.5 3.00-0.2 3.18+0.3 2.92+0.2 2.73-0.0 2.76-0.2 2.95
Debt-to-Equity 1.96+0.2 1.77+0.1 1.65+0.2 1.47+0.1 1.39-0.2 1.59+0.1 1.53-0.1 1.60
FCF Margin 5.8%+9.5pp -3.7%-5.6pp 1.9%-18.6pp 20.5%+3.9pp 16.5%+15.0pp 1.5%-19.5pp 21.0%+8.4pp 12.6%

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Frequently Asked Questions

Via Renewables Inc (VIASP) reported $463.5M in total revenue for fiscal year 2025. This represents a 16.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

Via Renewables Inc (VIASP) revenue grew by 16.2% year-over-year, from $398.9M to $463.5M in fiscal year 2025.

Yes, Via Renewables Inc (VIASP) reported a net income of $19.1M in fiscal year 2025, with a net profit margin of 4.1%.

Via Renewables Inc (VIASP) reported diluted earnings per share of $2.70 for fiscal year 2025. This represents a -50.7% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Via Renewables Inc (VIASP) had EBITDA of $75.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

As of fiscal year 2025, Via Renewables Inc (VIASP) had $41.8M in cash and equivalents against $120.0M in long-term debt.

Via Renewables Inc (VIASP) had a gross margin of 30.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

Via Renewables Inc (VIASP) had an operating margin of 11.6% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

Via Renewables Inc (VIASP) had a net profit margin of 4.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Via Renewables Inc (VIASP) has a return on equity of 28.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Via Renewables Inc (VIASP) generated $39.1M in free cash flow during fiscal year 2025. This represents a -20.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

Via Renewables Inc (VIASP) generated $42.1M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Via Renewables Inc (VIASP) had $331.3M in total assets as of fiscal year 2025, including both current and long-term assets.

Via Renewables Inc (VIASP) invested $3.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Via Renewables Inc (VIASP) had a current ratio of 2.55 as of fiscal year 2025, which is generally considered healthy.

Via Renewables Inc (VIASP) had a debt-to-equity ratio of 1.77 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Via Renewables Inc (VIASP) had a return on assets of 5.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Via Renewables Inc (VIASP) has a Piotroski F-Score of 4 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Via Renewables Inc (VIASP) has an earnings quality ratio of 2.20x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Via Renewables Inc (VIASP) has an interest coverage ratio of 7.1x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

Via Renewables Inc (VIASP) scores 67 out of 100 on our Financial Health Score, indicating strong standing within its utilities peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.

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