Vistra Corp Financials
This page shows Vistra Corp (VST) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 8 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).
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
Vistra Corp has an operating margin of 23.7%, meaning the company retains $24 of operating profit per $100 of revenue. This strong profitability earns a score of 100/100, reflecting efficient cost management and pricing power. This is up from 18.0% the prior year.
Vistra Corp's revenue surged 16.5% year-over-year to $17.2B, reflecting rapid business expansion. This strong growth earns a score of 76/100.
Vistra Corp has elevated debt relative to equity (D/E of 2.93), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 3/100, reflecting increased financial risk.
Vistra Corp's current ratio of 0.96 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 19/100, which could limit financial flexibility.
Vistra Corp converts 14.4% of revenue into free cash flow ($2.5B). This strong cash generation earns a score of 72/100.
Vistra Corp earns a strong 47.7% return on equity (ROE), meaning it generates $48 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 100/100. This is up from 28.1% the prior year.
Vistra Corp scores 1.86, placing it in the grey zone between 1.81 and 2.99. The score is driven primarily by a large market capitalization ($57.8B) relative to total liabilities ($32.2B). This signals moderate financial risk that warrants monitoring.
Vistra Corp passes 7 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 2 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Vistra Corp generates $1.72 in operating cash flow ($4.6B OCF vs $2.7B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Vistra Corp earns $4.5 in operating income for every $1 of interest expense ($4.1B vs $900.0M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.
Key Financial Metrics
Vistra Corp generated $17.2B in revenue in fiscal year 2024. This represents an increase of 16.5% from the prior year.
Vistra Corp's EBITDA was $5.9B in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 42.3% from the prior year.
Vistra Corp generated $2.5B in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 34.2% from the prior year.
Vistra Corp reported $2.7B in net income in fiscal year 2024. This represents an increase of 78.1% from the prior year.
Vistra Corp earned $7.00 per diluted share (EPS) in fiscal year 2024. This represents an increase of 95.5% from the prior year.
Vistra Corp held $1.2B in cash against $16.3B in long-term debt as of fiscal year 2024.
Vistra Corp paid $0.87 per share in dividends in fiscal year 2024. This represents an increase of 6.5% from the prior year.
Vistra Corp had 340M shares outstanding in fiscal year 2024. This represents a decrease of 3.3% from the prior year.
Vistra Corp's operating margin was 23.7% in fiscal year 2024, reflecting core business profitability. This is up 5.7 percentage points from the prior year.
Vistra Corp's net profit margin was 15.4% in fiscal year 2024, showing the share of revenue converted to profit. This is up 5.3 percentage points from the prior year.
Vistra Corp's ROE was 47.7% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is up 19.6 percentage points from the prior year.
Vistra Corp spent $1.3B on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents an increase of 1.7% from the prior year.
Vistra Corp invested $2.1B in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 24.0% from the prior year.
VST Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $5.0B+17.0% | $4.3B+8.1% | $3.9B-2.6% | $4.0B+5.0% | $3.8B+25.9% | $3.1B-0.8% | $3.1B-24.6% | $4.1B |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $444.0M+6.0% | $419.0M+7.2% | $391.0M-15.7% | $464.0M+23.7% | $375.0M+6.8% | $351.0M-0.8% | $354.0M-0.8% | $357.0M |
| Operating Income | $1.0B+101.4% | $515.0M+529.2% | -$120.0M-120.0% | $599.0M-25.9% | $808.0M+839.5% | $86.0M-18.1% | $105.0M-87.4% | $834.0M |
| Interest Expense | $286.0M-5.6% | $303.0M-5.0% | $319.0M+103.2% | $157.0M-34.9% | $241.0M+41.8% | $170.0M-41.4% | $290.0M+102.8% | $143.0M |
| Income Tax | $204.0M+168.4% | $76.0M+143.2% | -$176.0M-351.3% | -$39.0M-124.5% | $159.0M+895.0% | -$20.0M-152.6% | $38.0M-77.5% | $169.0M |
| Net Income | $652.0M+99.4% | $327.0M+222.0% | -$268.0M-160.8% | $441.0M+20.8% | $365.0M+1142.9% | -$35.0M+81.0% | -$184.0M-136.7% | $502.0M |
| EPS (Diluted) | $1.75+116.0% | $0.81+187.1% | $-0.93-185.3% | $1.09+21.1% | $0.90+475.0% | $-0.24+56.4% | $-0.55-144.0% | $1.25 |
VST Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $38.0B-0.3% | $38.1B-0.2% | $38.2B+1.2% | $37.8B-3.5% | $39.1B+2.5% | $38.2B+15.8% | $33.0B+3.2% | $31.9B |
| Current Assets | $8.4B-1.2% | $8.5B+0.6% | $8.4B+3.8% | $8.1B-17.4% | $9.8B+4.2% | $9.4B-18.9% | $11.6B+8.8% | $10.7B |
| Cash & Equivalents | $602.0M+31.4% | $458.0M-18.4% | $561.0M-52.8% | $1.2B-26.8% | $1.6B+51.8% | $1.1B-69.3% | $3.5B+9.9% | $3.2B |
| Inventory | $970.0M+0.5% | $965.0M+0.5% | $960.0M-1.0% | $970.0M+0.6% | $964.0M-1.2% | $976.0M+31.9% | $740.0M+8.0% | $685.0M |
| Accounts Receivable | $2.3B+4.4% | $2.2B+15.9% | $1.9B-2.9% | $2.0B-5.3% | $2.1B+21.1% | $1.7B+3.3% | $1.7B-17.0% | $2.0B |
| Goodwill | $2.8B0.0% | $2.8B0.0% | $2.8B+0.1% | $2.8B-3.9% | $2.9B+1.6% | $2.9B+11.4% | $2.6B0.0% | $2.6B |
| Total Liabilities | $32.8B-1.5% | $33.3B-0.2% | $33.4B+3.7% | $32.2B+1.2% | $31.8B+3.0% | $30.9B+11.8% | $27.6B+4.6% | $26.4B |
| Current Liabilities | $8.4B-10.7% | $9.4B-3.3% | $9.8B+15.7% | $8.4B-16.2% | $10.1B+14.6% | $8.8B-10.7% | $9.8B+12.3% | $8.7B |
| Long-Term Debt | $16.0B+1.4% | $15.8B-3.3% | $16.3B0.0% | $16.3B+2.6% | $15.9B+8.1% | $14.7B+2.0% | $14.4B+22.5% | $11.8B |
| Total Equity | $5.2B+8.0% | $4.8B0.0% | $4.8B-13.4% | $5.6B-0.4% | $5.6B-1.1% | $5.7B+6.6% | $5.3B-3.6% | $5.5B |
| Retained Earnings | -$107.0M+83.3% | -$642.0M+23.1% | -$835.0M-83.9% | -$454.0M+82.1% | -$2.5B+8.3% | -$2.8B-5.7% | -$2.6B-13.3% | -$2.3B |
VST Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.5B+156.5% | $572.0M-4.5% | $599.0M-55.7% | $1.4B+13.1% | $1.2B+283.3% | $312.0M-64.6% | $881.0M-43.5% | $1.6B |
| Capital Expenditures | $458.0M-33.6% | $690.0M-10.2% | $768.0M+78.6% | $430.0M-13.7% | $498.0M+7.1% | $465.0M+12.3% | $414.0M+23.2% | $336.0M |
| Free Cash Flow | $1.0B+955.1% | -$118.0M+30.2% | -$169.0M-118.3% | $923.0M+32.2% | $698.0M+556.2% | -$153.0M-132.8% | $467.0M-61.8% | $1.2B |
| Investing Cash Flow | -$491.0M+19.5% | -$610.0M+42.5% | -$1.1B-234.7% | -$317.0M+52.6% | -$669.0M+81.0% | -$3.5B-362.4% | -$763.0M-83.9% | -$415.0M |
| Financing Cash Flow | -$833.0M-1222.2% | -$63.0M+61.6% | -$164.0M+78.2% | -$754.0M-4288.9% | $18.0M-97.7% | $793.0M+304.6% | $196.0M-85.8% | $1.4B |
| Dividends Paid | $77.0M+11.6% | $69.0M-16.9% | $83.0M+10.7% | $75.0M+2.7% | $73.0M-5.2% | $77.0M-9.4% | $85.0M+13.3% | $75.0M |
| Share Buybacks | $187.0M-25.8% | $252.0M-25.2% | $337.0M+37.6% | $245.0M-26.0% | $331.0M+13.7% | $291.0M-23.2% | $379.0M+20.7% | $314.0M |
VST Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | 20.9%+8.7pp | 12.1%+15.2pp | -3.0%-17.9pp | 14.8%-6.2pp | 21.0%+18.2pp | 2.8%-0.6pp | 3.4%-17.0pp | 20.4% |
| Net Margin | 13.1%+5.4pp | 7.7%+14.5pp | -6.8%-17.7pp | 10.9%+1.4pp | 9.5%+10.6pp | -1.1%+4.8pp | -6.0%-18.3pp | 12.3% |
| Return on Equity | 12.5%+5.7pp | 6.8% | N/A | 7.9%+1.4pp | 6.5% | N/A | N/A | 9.1% |
| Return on Assets | 1.7%+0.9pp | 0.9%+1.6pp | -0.7%-1.9pp | 1.2%+0.2pp | 0.9%+1.0pp | -0.1%+0.5pp | -0.6%-2.1pp | 1.6% |
| Current Ratio | 0.99+0.1 | 0.90+0.0 | 0.86-0.1 | 0.96-0.0 | 0.98-0.1 | 1.07-0.1 | 1.18-0.0 | 1.22 |
| Debt-to-Equity | 3.07-0.2 | 3.27-0.1 | 3.38+0.5 | 2.93+0.1 | 2.84+0.2 | 2.60-0.1 | 2.71+0.6 | 2.14 |
| FCF Margin | 20.3%+23.1pp | -2.8%+1.5pp | -4.3%-27.2pp | 22.9%+4.7pp | 18.1%+23.2pp | -5.0%-20.2pp | 15.2%-14.8pp | 30.0% |
Note: The current ratio is below 1.0 (0.96), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Frequently Asked Questions
What is Vistra Corp's annual revenue?
Vistra Corp (VST) reported $17.2B in total revenue for fiscal year 2024. This represents a 16.5% 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.
How fast is Vistra Corp's revenue growing?
Vistra Corp (VST) revenue grew by 16.5% year-over-year, from $14.8B to $17.2B in fiscal year 2024.
Is Vistra Corp profitable?
Yes, Vistra Corp (VST) reported a net income of $2.7B in fiscal year 2024, with a net profit margin of 15.4%.
What is Vistra Corp's earnings per share (EPS)?
Vistra Corp (VST) reported diluted earnings per share of $7.00 for fiscal year 2024. This represents a 95.5% 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.
What is Vistra Corp's EBITDA?
Vistra Corp (VST) had EBITDA of $5.9B in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Vistra Corp have?
As of fiscal year 2024, Vistra Corp (VST) had $1.2B in cash and equivalents against $16.3B in long-term debt.
What is Vistra Corp's operating margin?
Vistra Corp (VST) had an operating margin of 23.7% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Vistra Corp's net profit margin?
Vistra Corp (VST) had a net profit margin of 15.4% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
Does Vistra Corp pay dividends?
Yes, Vistra Corp (VST) paid $0.87 per share in dividends during fiscal year 2024.
What is Vistra Corp's return on equity (ROE)?
Vistra Corp (VST) has a return on equity of 47.7% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is Vistra Corp's free cash flow?
Vistra Corp (VST) generated $2.5B in free cash flow during fiscal year 2024. This represents a -34.2% 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.
What is Vistra Corp's operating cash flow?
Vistra Corp (VST) generated $4.6B in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Vistra Corp's total assets?
Vistra Corp (VST) had $37.8B in total assets as of fiscal year 2024, including both current and long-term assets.
What are Vistra Corp's capital expenditures?
Vistra Corp (VST) invested $2.1B in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
Does Vistra Corp buy back shares?
Yes, Vistra Corp (VST) spent $1.3B on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.
How many shares does Vistra Corp have outstanding?
Vistra Corp (VST) had 340M shares outstanding as of fiscal year 2024.
What is Vistra Corp's current ratio?
Vistra Corp (VST) had a current ratio of 0.96 as of fiscal year 2024, which is below 1.0, which may suggest potential liquidity concerns.
What is Vistra Corp's debt-to-equity ratio?
Vistra Corp (VST) had a debt-to-equity ratio of 2.93 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Vistra Corp's return on assets (ROA)?
Vistra Corp (VST) had a return on assets of 7.0% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Vistra Corp's Altman Z-Score?
Vistra Corp (VST) has an Altman Z-Score of 1.86, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Vistra Corp's Piotroski F-Score?
Vistra Corp (VST) has a Piotroski F-Score of 7 out of 9, indicating strong financial health. 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Vistra Corp's earnings high quality?
Vistra Corp (VST) has an earnings quality ratio of 1.72x, 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.
Can Vistra Corp cover its interest payments?
Vistra Corp (VST) has an interest coverage ratio of 4.5x, meaning it can adequately 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.
How financially healthy is Vistra Corp?
Vistra Corp (VST) scores 62 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.