Vast Renewables (VSTTF) 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 Nov 6, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the filing for Q2 FY2025, filed Feb 28, 2025. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the VSTTF SEC filings page.
Vast Renewables Ltd (VSTTF) reported $342K in revenue for fiscal year 2024, down 62.8% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 3 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.
Vast remains a development-stage business: shrinking revenue, rising R&D, and financing dominate its reported cash economics.
In FY2024, operating cash flow was-$40.3M while free cash flow was-$40.4M , a near match showing that operations—not major reinvestment—created the cash shortfall. Capital expenditures were just$115K , reinforcing that distinction.
Revenue fell
FY2024 financing cash flow was
Financial Health Signals
We do not publish a peer-relative financial health score for Vast Renewables Ltd, because the score only covers companies whose filings and listing give us what it needs to compare them with their peers. The metrics below are current.
Key Financial Metrics
Earnings & Revenue
None of these metrics is reported for Q2 2025.
Cash & Balance Sheet
Vast Renewables Ltd held $6.9M in cash against $6.4M in long-term debt as of Q2 2025.
Not reported for Q2 2025.
Not reported for Q2 2025.
Margins & Returns
None of these metrics is reported for Q2 2025.
Capital Allocation
None of these metrics is reported for Q2 2025.
VSTTF 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.
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA, Interest Expense, Income Tax, Net Income, EPS (Basic), EPS (Diluted), Diluted Shares (Avg).
VSTTF 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 | Q2'25Filing | Q4'24Filing | Q4'23Filing |
|---|---|---|---|
| Total Assets | $12.3M | $15.8M+238.7% | $4.7M |
| Current Assets | $10.3M | $13.8M+351.8% | $3.1M |
| Cash & Equivalents | $6.9M | $11.1M+437.9% | $2.1M |
| Inventory | $721K | $0 | N/A |
| Accounts Receivable | $1.4M | $839K+167.2% | $314K |
| Goodwill | N/A | $0 | N/A |
| Total Liabilities | $16.3M | $24.1M-29.3% | $34.1M |
| Current Liabilities | $9.2M | $10.2M-61.5% | $26.6M |
| Non-Current Liabilities | $7.0M | $13.8M+85.7% | $7.5M |
| Long-Term Debt | $6.4M | $12.8M+79.7% | $7.1M |
| Total Equity | -$4.0M | -$8.3Mn/m | -$29.4M |
| Retained Earnings | -$338.7M | -$333.1Mn/m | -$39.6M |
Not reported in any period shown, so not listed: Short-Term Investments, Long-Term Investments.
VSTTF 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.
Not reported in any period shown, so not listed: Operating Cash Flow, Depreciation & Amortization, Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Investing Cash Flow, Financing Cash Flow, Dividends Paid, Share Buybacks.
VSTTF 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.
Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Return on Equity, Return on Assets, Debt-to-Equity, Liabilities-to-Equity, Asset Turnover, FCF Margin.
Note: Shareholder equity is negative (-$8.3M), which causes the debt-to-equity, liabilities-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
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. Market cap is stated at each company's latest close.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Vast Renewables Ltd VSTTF | FY2024 | $342K | N/A | N/A | $18K | — |
| SinglePoint Inc SING | FY2024 | $20.3M | -$28.9M | N/A | $8K | — |
| SunHydrogen Inc. HYSR | FY2026 | $1K | -$6.5M | N/A | $90.3M | — |
Where Vast Renewables Ltd Ranks
Frequently Asked Questions
Vast Renewables Ltd (VSTTF) reported $342K in total revenue for fiscal year 2024. This represents a -62.8% 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.
Vast Renewables Ltd (VSTTF) revenue declined by 62.8% year-over-year, from $919K to $342K in fiscal year 2024.
As of fiscal year 2024, Vast Renewables Ltd (VSTTF) had $11.1M in cash and equivalents against $12.8M in long-term debt.
Vast Renewables Ltd (VSTTF) recorded an outflow of $40.4M in free cash flow during fiscal year 2024. The change from the previous fiscal year is not meaningful, because that year’s figure was zero or negative. 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.
Vast Renewables Ltd (VSTTF) recorded an outflow of $40.3M in operating cash flow during fiscal year 2024, representing cash used by core business activities.
Vast Renewables Ltd (VSTTF) had $15.8M in total assets as of fiscal year 2024, including both current and long-term assets.
Vast Renewables Ltd (VSTTF) invested $115K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
Vast Renewables Ltd (VSTTF) invested $2.2M in research and development during fiscal year 2024.
Vast Renewables Ltd (VSTTF) had a current ratio of 1.35 as of fiscal year 2024, which is considered adequate.
Vast Renewables Ltd (VSTTF) has no price-to-earnings ratio at the moment: no net income reported. The market capitalization is $18K as of Nov 6, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
Vast Renewables Ltd (VSTTF) trades at 0.1x sales, its market capitalization divided by $342K revenue, FY2024. The market capitalization is $18K as of Nov 6, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
Vast Renewables Ltd (VSTTF) has negative shareholder equity of -$8.3M as of fiscal year 2024, so no debt-to-equity or liabilities-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.