Vistra Corp. (VST) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 6, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 10, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the VST SEC filings page.
Vistra Corp. (VST) reported $19.2B in revenue over the twelve months to Jun 30, 2026, up 3.8% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 9 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).
Vistra’s recent profitability is highly cyclical: nearly flat revenue now supports less cash after heavier investment and financing costs.
Operating profit margin fell from23.7% to10.8% while revenue stayed nearly unchanged, showing that recent sales growth did not translate into proportional operating earnings. Operating cash flow remained$4.07B , yet free cash flow fell to$1.32B ; reinvestment absorbed more cash, making cash conversion weaker than reported net income alone suggests.
Debt-to-equity rose from 2.8x to 3.1x, increasing the claims ahead of shareholders. The current ratio fell from 1.0x to 0.8x, meaning reported current assets no longer covered current liabilities.
Capital expenditures rose from
Financial Health Signals
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 Vistra Corp.'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.
Vistra Corp. has an operating margin of 10.8%, meaning the company retains $11 of operating profit per $100 of revenue. This below-average margin results in a low score of 24/100, suggesting thin profitability after operating expenses. This is down from 23.7% the prior year.
Vistra Corp.'s revenue grew a modest 3.0% year-over-year to $17.7B. This slow but positive growth earns a score of 81/100.
Vistra Corp. has a moderate D/E ratio of 3.11. This balance of debt and equity financing earns a leverage score of 59/100.
Vistra Corp.'s current ratio of 0.78 indicates adequate short-term liquidity, earning a score of 48/100. The company can meet its near-term obligations, though with limited headroom.
Vistra Corp. converts 7.4% of revenue into free cash flow ($1.3B). This strong cash generation earns a score of 91/100.
Vistra Corp. earns a strong 18.5% return on equity (ROE), meaning it generates $19 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 68/100. This is down from 47.7% the prior year.
Vistra Corp. scores 1.30, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($48.6B) relative to total liabilities ($36.4B). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Vistra Corp. passes 5 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Vistra Corp. generates $4.31 in operating cash flow ($4.1B OCF vs $944.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Vistra Corp. earns $1.62 in operating income for every $1 of interest expense ($1.9B vs $1.2B). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Vistra Corp. generated $4.0B in revenue in Q2 2026. This represents a decrease of 5.5% from the same quarter a year earlier. Against the prior quarter it is down 28.8%.
Vistra Corp.'s EBITDA was $998.0M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 5.5% from the same quarter a year earlier. Against the prior quarter it is down 49.7%.
Vistra Corp. reported $305.0M in net income in Q2 2026. This represents a decrease of 6.7% from the same quarter a year earlier. Against the prior quarter it is down 70.4%.
Vistra Corp. earned $0.76 per diluted share (EPS) in Q2 2026. This represents a decrease of 6.2% from the same quarter a year earlier. Against the prior quarter it is down 73.5%.
Cash & Balance Sheet
Vistra Corp. generated $334.0M in free cash flow in Q2 2026, representing cash available after capex. This represents an increase of 383.1% from the same quarter a year earlier. Against the prior quarter it is up 5.7%.
Vistra Corp. held $435.0M in cash against $17.7B in long-term debt as of Q2 2026.
Vistra Corp. paid $0.23 per share in dividends in Q2 2026. This represents an increase of 1.8% from the same quarter a year earlier. Against the prior quarter it is up 0.4%.
Margins & Returns
Vistra Corp.'s operating margin was 13.8% in Q2 2026, reflecting core business profitability. This is up 1.6 percentage points from the same quarter a year earlier. Against the prior quarter it is down 12.8 percentage points.
Vistra Corp.'s net profit margin was 7.6% in Q2 2026, showing the share of revenue converted to profit. This is down 0.1 percentage points from the same quarter a year earlier. Against the prior quarter it is down 10.7 percentage points.
Vistra Corp.'s ROE was 5.6% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 1.2 percentage points from the same quarter a year earlier. Against the prior quarter it is down 12.8 percentage points.
Not reported for Q2 2026.
Capital Allocation
Vistra Corp. spent $337.0M on share buybacks in Q2 2026, returning capital to shareholders by reducing shares outstanding. This represents an increase of 33.7% from the same quarter a year earlier. Against the prior quarter it is down 9.4%.
Vistra Corp. invested $689.0M in capex in Q2 2026, funding long-term assets and infrastructure. This represents a decrease of 0.1% from the same quarter a year earlier. Against the prior quarter it is down 22.0%.
Not reported for Q2 2026.
VST Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $4.0B-5.5% | $5.6B+43.4% | $4.6B+13.5% | $5.0B-20.9% | $4.3B+10.5% | $3.9B+28.8% | $4.0B+31.1% | $6.3B+53.9% |
| SG&A Expenses | $392.0M-6.4% | $427.0M+9.2% | $460.0M-0.9% | $444.0M+8.0% | $419.0M+11.7% | $391.0M+11.4% | $464.0M+31.1% | $411.0M+15.1% |
| Operating Income | $553.0M+7.4% | $1.5B+1349.2% | $474.0M-20.9% | $1.0B-59.9% | $515.0M-36.3% | -$120.0M-239.5% | $599.0M+470.5% | $2.6B+210.3% |
| EBITDA | $998.0M-5.5% | $2.0B+393.3% | $937.0M-17.5% | $1.5B-51.0% | $1.1B-15.2% | $402.0M-17.8% | $1.1B+128.6% | $3.1B+152.6% |
| Interest Expense | $312.0M+3.0% | $263.0M-17.6% | $271.0M+72.6% | $286.0M-13.9% | $303.0M+25.7% | $319.0M+87.6% | $157.0M-45.9% | $332.0M+132.2% |
| Income Tax | $122.0M+60.5% | $183.0M+204.0% | $75.0M+292.3% | $204.0M-63.2% | $76.0M-52.2% | -$176.0M-780.0% | -$39.0M-202.6% | $555.0M+228.4% |
| Net Income | $305.0M-6.7% | $1.0B+484.0% | $233.0M-47.2% | $652.0M-65.5% | $327.0M-10.4% | -$268.0M-665.7% | $441.0M+339.7% | $1.9B+276.1% |
| EPS (Basic) | $0.77-6.1% | $2.90+411.8% | $0.55-53.0% | $1.78-66.8% | $0.82-10.9% | -$0.93-287.5% | $1.17+312.7% | $5.36+322.0% |
| EPS (Diluted) | $0.76-6.2% | $2.87+408.6% | $0.54-52.6% | $1.75-66.7% | $0.81-10.0% | -$0.93 | $1.14+307.3% | $5.25+320.0% |
| Diluted Shares (Avg) | 339M-1.8% | 342M+0.6% | N/A | 345M-1.5% | 346M-2.5% | 340M | N/A | 350M-5.9% |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses.
VST Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $42.6B+11.7% | $41.3B+8.1% | $41.5B+10.0% | $38.0B+0.4% | $38.1B-2.5% | $38.2B+0.1% | $37.8B+14.6% | $37.9B+18.6% |
| Current Assets | $10.3B+21.1% | $9.0B+7.0% | $9.2B+13.1% | $8.4B-1.8% | $8.5B-13.7% | $8.4B-10.6% | $8.1B-30.2% | $8.5B-20.3% |
| Cash & Equivalents | $435.0M-5.0% | $634.0M+13.0% | $785.0M-33.9% | $602.0M-33.5% | $458.0M-71.8% | $561.0M-47.6% | $1.2B-65.9% | $905.0M-71.5% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | N/A | N/A | N/A | $970.0M+2.2% | $965.0M+0.1% | $960.0M-1.6% | $970.0M+31.1% | $949.0M+38.5% |
| Accounts Receivable | $2.3B+2.9% | $2.0B+3.1% | $2.3B+17.2% | $2.3B+6.8% | $2.2B+6.4% | $1.9B+11.3% | $2.0B+18.4% | $2.2B+8.0% |
| Long-Term Investments | $5.3B+12.2% | $5.0B+11.7% | $5.1B+12.8% | $5.0B+10.8% | $4.8B+10.3% | $4.5B+6.1% | $4.5B+121.7% | $4.5B+143.4% |
| Goodwill | $2.8B0.0% | $2.8B0.0% | $2.8B+0.1% | $2.8B+0.3% | $2.8B-3.8% | $2.8B-2.3% | $2.8B+8.7% | $2.8B+8.5% |
| Total Liabilities | $37.1B+11.4% | $35.7B+6.9% | $36.4B+13.2% | $32.8B+12.2% | $33.3B+4.7% | $33.4B+8.1% | $32.2B+16.4% | $29.2B+10.6% |
| Current Liabilities | $10.6B+11.9% | $10.1B+3.1% | $11.8B+40.1% | $8.4B+10.0% | $9.4B-6.2% | $9.8B+11.1% | $8.4B-14.2% | $7.7B-12.4% |
| Non-Current Liabilities | $26.6B+11.2% | $25.6B+8.5% | $24.6B+3.7% | $24.4B+13.0% | $23.9B+9.7% | $23.6B+6.9% | $23.8B+33.3% | $21.6B+22.0% |
| Long-Term Debt | $17.7B+14.0% | $17.3B+11.9% | $15.8B+2.8% | $15.8B+13.0% | $15.5B+11.4% | $15.4B+5.0% | $15.4B+27.3% | $13.9B+18.6% |
| Total Equity | $5.5B+13.7% | $5.6B+16.0% | $5.1B-8.5% | $5.2B-4.2% | $4.8B-13.8% | $4.8B-14.7% | $5.6B+5.0% | $5.4B-1.2% |
| Retained Earnings | $1.1B+267.6% | $903.0M+208.1% | -$12.0M+97.4% | -$107.0M+85.9% | -$642.0M+74.7% | -$835.0M+69.8% | -$454.0M+82.6% | -$759.0M+67.1% |
VST Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $1.0B+78.8% | $1.2B+100.2% | $1.4B+5.8% | $1.5B-13.8% | $572.0M-52.2% | $599.0M+92.0% | $1.4B+53.6% | $1.7B+9.1% |
| Depreciation & Amortization | $445.0M-17.7% | $484.0M-7.3% | $463.0M-13.8% | $460.0M-1.3% | $541.0M+23.8% | $522.0M+29.5% | $537.0M+36.6% | $466.0M+24.3% |
| Stock-Based Compensation | N/A | $32.0M+52.4% | N/A | N/A | N/A | $21.0M0.0% | N/A | N/A |
| Capital Expenditures | $689.0M-0.1% | $883.0M+15.0% | $836.0M+94.4% | $458.0M-33.1% | $690.0M+38.6% | $768.0M+65.2% | $430.0M+3.9% | $685.0M+103.9% |
| Free Cash Flow | $334.0M+383.1% | $316.0M+287.0% | $596.0M-35.4% | $1.0B-0.8% | -$118.0M-116.9% | -$169.0M-10.5% | $923.0M+97.6% | $1.0B-16.9% |
| Investing Cash Flow | -$641.0M-5.1% | -$638.0M+39.9% | -$2.2B-604.7% | -$491.0M+35.6% | -$610.0M+8.8% | -$1.1B+69.9% | -$317.0M+58.5% | -$762.0M-83.6% |
| Financing Cash Flow | -$578.0M-817.5% | -$706.0M-330.5% | $986.0M+230.8% | -$833.0M+49.8% | -$63.0M-450.0% | -$164.0M-120.7% | -$754.0M-484.7% | -$1.7B-220.2% |
| Dividends Paid | $77.0M+11.6% | $77.0M-7.2% | $77.0M+2.7% | $77.0M-3.8% | $69.0M-5.5% | $83.0M+7.8% | $75.0M-11.8% | $80.0M+6.7% |
| Share Buybacks | $337.0M+33.7% | $372.0M+10.4% | $252.0M+2.9% | $187.0M-53.1% | $252.0M-23.9% | $337.0M+15.8% | $245.0M-35.4% | $399.0M+27.1% |
VST Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | 13.8%+1.6pp | 26.6%+29.6pp | 10.3%-4.5pp | 20.9%-20.3pp | 12.1%-8.9pp | -3.0%-5.9pp | 14.8%+11.4pp | 41.2%+20.8pp |
| Net Margin | 7.6%-0.1pp | 18.2%+25.1pp | 5.1%-5.8pp | 13.1%-16.9pp | 7.7%-1.8pp | -6.8%-5.7pp | 10.9%+16.9pp | 30.0%+17.7pp |
| Return on Equity | 5.6%-1.2pp | 18.4%+23.9pp | 4.6%-3.4pp | 12.5%-22.2pp | 6.8%+0.3pp | -5.5%-4.9pp | 7.9%+11.4pp | 34.7%+25.6pp |
| Return on Assets | 0.7%-0.1pp | 2.5%+3.2pp | 0.6%-0.6pp | 1.7%-3.3pp | 0.9%-0.1pp | -0.7%-0.6pp | 1.2%+1.7pp | 5.0%+3.4pp |
| Current Ratio | 0.97+0.1x | 0.900.0x | 0.78-0.2x | 0.99-0.1x | 0.90-0.1x | 0.86-0.2x | 0.96-0.2x | 1.11-0.1x |
| Debt-to-Equity | 3.230.0x | 3.08-0.1x | 3.11+0.3x | 3.02+0.5x | 3.22+0.7x | 3.20+0.6x | 2.77+0.5x | 2.56+0.4x |
| Asset Turnover | 0.090.0x | 0.140.0x | 0.110.0x | 0.130.0x | 0.110.0x | 0.100.0x | 0.110.0x | 0.170.0x |
| FCF Margin | 8.3%+11.1pp | 5.6%+9.9pp | 13.0%-9.9pp | 20.3%+4.1pp | -2.8%-20.9pp | -4.3%+0.7pp | 22.9%+7.7pp | 16.2%-13.8pp |
Not reported in any period shown, so not listed: Gross Margin.
Note: The current ratio is below 1.0 (0.78), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Vistra Corp. VST | FY2025 | $17.7B | $944.0M | 5.3% | $48.6B | 62/100 |
| NRG Energy, Inc. NRG | FY2025 | $30.7B | $864.0M | 2.8% | $20.0B | 60/100 |
| Talen Energy Corporation TLN | FY2025 | $2.6B | -$219.0M | -8.5% | $15.2B | 34/100 |
| PAMPA ENERGIA S.A. PAM | FY2025 | $2.0B | $378.0M | 18.9% | $4.1B | 35/100 |
Where Vistra Corp. Ranks
Frequently Asked Questions
What is Vistra Corp.'s annual revenue?
Vistra Corp. (VST) reported $17.7B in total revenue for fiscal year 2025. This represents a 3.0% 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 3.0% year-over-year, from $17.2B to $17.7B in fiscal year 2025.
Is Vistra Corp. profitable?
Yes, Vistra Corp. (VST) reported a net income of $944.0M in fiscal year 2025, with a net profit margin of 5.3%.
What is Vistra Corp.'s EBITDA?
Vistra Corp. (VST) had EBITDA of $3.9B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Vistra Corp. have?
As of fiscal year 2025, Vistra Corp. (VST) had $785.0M in cash and equivalents against $15.8B in long-term debt.
What is Vistra Corp.'s operating margin?
Vistra Corp. (VST) had an operating margin of 10.8% in fiscal year 2025, 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 5.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Vistra Corp. pay dividends?
Yes, Vistra Corp. (VST) paid $0.90 per share in dividends during fiscal year 2025.
What is Vistra Corp.'s return on equity (ROE)?
Vistra Corp. (VST) has a return on equity of 18.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Vistra Corp.'s free cash flow?
Vistra Corp. (VST) generated $1.3B in free cash flow during fiscal year 2025. This represents a -47.0% 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.
What is Vistra Corp.'s operating cash flow?
Vistra Corp. (VST) generated $4.1B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Vistra Corp.'s total assets?
Vistra Corp. (VST) had $41.5B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Vistra Corp.'s capital expenditures?
Vistra Corp. (VST) invested $2.8B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Vistra Corp.'s current ratio?
Vistra Corp. (VST) had a current ratio of 0.78 as of fiscal year 2025, 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 3.11 as of fiscal year 2025, 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 2.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Vistra Corp.'s P/E ratio?
Vistra Corp. (VST) trades at 21.9x earnings, its market capitalization divided by net income of $2.2B net income, trailing 12 months to June 30, 2026. The market capitalization is $48.6B as of Oct 6, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Vistra Corp.'s price-to-sales ratio?
Vistra Corp. (VST) trades at 2.5x sales, its market capitalization divided by revenue of $19.2B revenue, trailing 12 months to June 30, 2026. The market capitalization is $48.6B as of Oct 6, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Vistra Corp.'s Altman Z-Score?
Vistra Corp. (VST) has an Altman Z-Score of 1.30, placing it in the Distress Zone (elevated bankruptcy 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 5 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.
Are Vistra Corp.'s earnings high quality?
Vistra Corp. (VST) has an earnings quality ratio of 4.31x, 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 1.62x, meaning it can struggle to 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 Health Score, indicating moderate 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.