Vistra Corp. VST
Vistra is an integrated retail electricity and power generation company that provides essential power resources to customers, businesses, and communities from California to Maine. We combine an innovative, customer-centric approach to retail sales with safe, reliable, diverse, and efficient power generation. Our integrated power generation and wholesale operation allows us to efficiently obtain the electricity needed to serve our customers at the lowest cost. The integrated model enables us to structure products and contracts in a way that offers significant value compared to stand-alone retail electric providers.
The Company brings its products and services to market in 18 states and the District of Columbia, including all major competitive wholesale power markets in the U.S. We serve approximately 5 million residential, commercial, and industrial retail customers with electricity and natural gas. Our generation fleet totals approximately 44,000 megawatts of generation capacity powered by a diverse portfolio, including natural gas, nuclear, coal, solar, and battery energy storage facilities.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $17.59B | $14.76B | $13.80B | $15.63B | $17.70B | $10.85B | $11.55B | $9.80B | $5.43B | — |
| SG&A | $1.71B | $1.60B | $1.31B | $1.19B | $1.04B | $1.03B | $904.0M | $926.0M | $600.0M | — |
| Operating income | $1.91B | $4.08B | $2.66B | -$1.18B | -$1.51B | $1.52B | $1.99B | $491.0M | $198.0M | — |
| Interest expense | $1.18B | $900.0M | $740.0M | $368.0M | $384.0M | $630.0M | $797.0M | $572.0M | $193.0M | — |
| Pre-tax income | $1.12B | $3.47B | $2.00B | -$1.56B | -$1.72B | $890.0M | $1.22B | -$101.0M | $250.0M | — |
| Income tax | $179.0M | $655.0M | $508.0M | $350.0M | $458.0M | $266.0M | $290.0M | $45.0M | $504.0M | — |
| Net income | $944.0M | $2.66B | $1.49B | -$1.23B | -$1.27B | $636.0M | $928.0M | -$54.0M | -$254.0M | — |
| EPS, basic | 2.22 | 7.16 | 3.63 | -3.26 | -2.69 | 1.30 | 1.88 | -0.11 | -0.59 | — |
| EPS, diluted | 2.18 | 7.00 | 3.58 | -3.26 | -2.69 | 1.30 | 1.86 | -0.11 | -0.59 | — |
| Shares, diluted (wtd. avg.) | $345.7M | $352.6M | $375.2M | $422.4M | $482.2M | $491.1M | $499.9M | $505.0M | $427.8M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $785.0M | $1.19B | $3.54B | $525.0M | $1.36B | $444.0M | $475.0M | $693.0M | $2.05B | $1.59B |
| Receivables | $2.32B | $1.98B | $1.67B | $2.06B | $1.40B | $1.28B | $1.36B | $1.09B | — | — |
| Inventory | — | $970.0M | $740.0M | $570.0M | $610.0M | $515.0M | $469.0M | $412.0M | — | — |
| Total current assets | $9.18B | $8.12B | $11.64B | $11.12B | $7.88B | $3.43B | $4.11B | $3.44B | — | — |
| Property, plant and equipment | $19.85B | $18.17B | $12.43B | $12.55B | $13.06B | $13.50B | $13.91B | $14.61B | — | — |
| Goodwill | $2.81B | $2.81B | $2.58B | $2.58B | $2.58B | $2.58B | $2.55B | $2.07B | $1.91B | — |
| Other intangibles | $2.44B | $2.21B | $1.86B | $1.96B | $2.15B | $2.45B | $2.75B | $2.49B | — | — |
| Total assets | $41.55B | $37.77B | $32.97B | $32.79B | $29.68B | $25.21B | $26.62B | $26.02B | — | — |
| Accounts payable | $1.64B | $1.51B | $1.15B | $1.56B | $1.51B | $880.0M | $947.0M | $945.0M | — | — |
| Short-term debt | $1.80B | $0 | $0 | $650.0M | $0 | $0 | $350.0M | $0 | — | — |
| Total current liabilities | $11.81B | $8.43B | $9.82B | $10.34B | $5.84B | $3.04B | $4.57B | $3.62B | — | — |
| Long-term debt | $17.04B | $16.30B | $14.40B | — | — | — | — | — | — | — |
| Total liabilities | $36.44B | $32.19B | $27.64B | $27.87B | $21.39B | $16.85B | $18.66B | $18.16B | — | — |
| Retained earnings | -$12.0M | -$454.0M | -$2.61B | -$3.64B | -$1.96B | -$399.0M | -$764.0M | -$1.45B | — | — |
| Total equity | $5.10B | $5.57B | $5.32B | $4.92B | $8.29B | $8.36B | $7.96B | $7.87B | $6.34B | -$6.60B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $4.07B | $4.56B | $5.45B | $485.0M | -$206.0M | $3.34B | $2.74B | $1.47B | $1.39B | — |
| Depreciation and amortisation | $1.99B | $1.84B | $1.50B | $1.60B | $1.75B | $1.74B | $1.64B | $1.39B | $699.0M | — |
| Stock-based compensation | $113.0M | $100.0M | $77.0M | $63.0M | $47.0M | $65.0M | $47.0M | $73.0M | $0 | — |
| Capital expenditure | $2.75B | $2.08B | $1.68B | $1.30B | $1.03B | $1.26B | $713.0M | $530.0M | $114.0M | — |
| Investing cash flow | -$4.40B | -$5.28B | -$2.15B | -$1.24B | -$1.15B | -$1.57B | -$1.72B | -$101.0M | -$727.0M | — |
| Financing cash flow | -$74.0M | -$1.60B | -$294.0M | -$80.0M | $2.27B | -$1.80B | -$1.24B | -$2.72B | -$201.0M | — |
| Dividends paid | $306.0M | $305.0M | $313.0M | $302.0M | $290.0M | $266.0M | $243.0M | $0 | $0 | — |
| Buybacks | $1.03B | $1.27B | $1.25B | $1.95B | $471.0M | $0 | $656.0M | $763.0M | $0 | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001692819-26-000006.
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