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NYSE · Utilities

Vistra Corp. (VST)

As-reported financials and SEC filings for Vistra Corp. The latest annual period is FY2025. The latest reported quarter is Q2 FY2026. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About Vistra Corp.

Vistra Corp. is an integrated retail electricity and power generation company serving approximately 5 million residential, commercial, and industrial customers across 18 U.S. states and the District of Columbia. The company operates a diverse generation fleet with about 44,000 megawatts of capacity, including natural gas, coal, nuclear, solar, and battery storage facilities. Vistra's operations include retail electricity and natural gas sales, wholesale power generation, and the decommissioning of retired generation assets.

Snapshot

Revenue
$17.59B
Revenue growth (YoY)
19.1%
Net income
$944.0M
Diluted EPS
$2.18
Gross margin
—
Operating margin
10.8%
Net margin
5.4%
FCF margin
7.5%
ROE
18.5%
net income / fiscal-year-end equity
P/E
23.6×
trailing when available, otherwise FY EPS
Market cap
$47.04B
Long-term debt / equity
3.10×
non-current term debt only

Fundamentals are from SEC filings for FY2025, the latest annual period (ended December 31, 2025). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at Vistra

  • Revenue grew 19.1% to $17.6B in FY2025, faster than the 6.9% the year before.
  • Operating margin turned positive at 10.8% in FY2025, from a 8.6% operating loss in FY2021.
  • Most recent quarter Q2 FY2026: revenue $4.4B, up 17.3% from Q2 FY2025.
  • Free cash flow was $1.3B in FY2025, 7.5% of revenue.
  • Net income fell 64.5% to $944M in FY2025.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where Vistra’s fundamentals sit among the 86 Utilities companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Operating margin10.8%
16th percentile of 77
Net margin5.4%
20th percentile of 80
FCF margin7.5%
82nd percentile of 66
Revenue growth (YoY)+19.1%
86th percentile of 82
ROE18.5%
95th percentile of 81
P/E23.6×
77th percentile of 74
Long-term debt / equity3.10×
93rd percentile of 77
Short interest2.19d
13th percentile of 86

Vistra’s return on equity of 18.5% ranks in the 95th percentile of the 81 Utilities companies reporting it. Vistra’s long-term debt to equity of 3.10 ranks in the 93rd percentile of the 77 Utilities companies reporting it. Vistra’s revenue growth of +19.1% ranks in the 86th percentile of the 82 Utilities companies reporting it.

3 reported insider purchases (code P) totaling $1.2M in the last 90 days, against 6 sales totaling $16.6M. For context, about 15% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among sector peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 5 of the superinvestors we track (plus 7 quant / multi-strat books), based on each investor’s most recent 13F; periods vary by investor (newest: Q2 2026).

Conviction investors
5
+7 quant / multi-strat
Initiated / added
8
1 new, 7 added
Reduced / exited
5
4 trimmed, 1 exited
Combined position
$1.35B
reported long value
InvestorAs ofPosition valueSharesChange
AppaloosaQ2 2026$351.4M2.2MAdded
Point72 Asset ManagementquantQ2 2026$234.5M1.5MAdded
Corvex ManagementQ2 2026$161.8M1.0MNew
D. E. ShawquantQ2 2026$134.6M848.4KAdded
Renaissance TechnologiesquantQ2 2026$121.4M765.3KReduced
Bridgewater AssociatesQ2 2026$119.2M751.7KAdded
Millennium ManagementquantQ2 2026$83.8M528.3KAdded
Citadel AdvisorsquantQ2 2026$62.2M391.9KReduced
AQR Capital ManagementquantQ2 2026$46.0M289.9KAdded
Gotham Asset ManagementQ2 2026$24.1M152.2KAdded
Two Sigma InvestmentsquantQ2 2026$5.4M34.3KReduced
Soros Fund ManagementQ2 2026$669,8944.2KReduced

No longer held by: Lone Pine Capital (as of Q2 2026)

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
3
1 insider
Bought (90d)
$1.2M
code P value
Sells (90d)
6
$16.6M
Reported activity
Net selling
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-10-07
filed 2026-10-08
Kristopher E. MoldovanEVP and CFOSell20.0K$165.00$3.3M
2026-10-06
filed 2026-10-07
Scott A. HudsonEVP & President Vistra RetailSell22.2K$160.14$3.6M
2026-09-08
filed 2026-09-10
Scott A. HudsonEVP & President Vistra RetailSell28.8K$151.85$4.4M
2026-09-08
filed 2026-09-10
Kristopher E. MoldovanEVP and CFOSell20.0K$151.03$3.0M
2026-09-08
filed 2026-09-10
Scott A. HudsonEVP & President Vistra RetailSell7.8K$152.56$1.2M
2026-09-08
filed 2026-09-10
Scott A. HudsonEVP & President Vistra RetailSell7.8K$150.97$1.2M
2026-09-01
filed 2026-09-02
James A. BurkePresident and CEOBuy4.5K$135.25$604K
2026-08-31
filed 2026-09-02
James A. BurkePresident and CEOBuy2.2K$135.99$299K
2026-08-24
James A. BurkePresident and CEOBuy2.0K$135.00$270K
2026-06-18
filed 2026-06-23
Arcilia AcostaDirectorSell7.5K$170.00$1.3M
2026-06-18
filed 2026-06-23
Arcilia AcostaDirectorSell7.5K$165.04$1.2M
2026-06-18
filed 2026-06-23
John R. SultDirectorSell6.5K$170.00$1.1M

Reported non-derivative purchases and sales (codes P/S), which may be open-market or private. Excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
10.5M
settled 2026-09-30
Change vs prior
+8.1%
vs previous settlement
Days to cover
2.19
at avg daily volume
Avg daily volume
4.8M
FINRA reported
SettlementShares shortChangeDays to cover
2026-09-3010.5M+8.1%2.19
2026-09-159.7M-10.0%2.04
2026-08-3110.8M+11.8%2.67
2026-08-149.6M+11.0%1.87
2026-07-318.7M-31.1%2.05
2026-07-1512.6M-20.8%3.17
2026-06-3015.9M+3.6%3.45
2026-06-1515.4M-2.2%3.66

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022FY2021
Revenue$17.59B$14.76B$13.80B$13.73B$17.70B
Gross profit—————
Operating income$1.91B$4.08B$2.66B$-1.18B$-1.51B
Pre-tax income$1.12B$3.47B$2.00B$-1.56B$-1.72B
Net income$944.0M$2.66B$1.49B$-1.23B$-1.27B
Diluted EPS$2.18$7.00$3.58$-3.26$-2.69

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures (free cash flow is operating cash flow minus capital expenditures, which can differ from a company’s own definition); “adj” means restated for a stock split (tap or hover a figure to see how it was calculated or what was filed). Diluted EPS includes discontinued operations where a company reports them. Cash & Equivalents excludes short-term investments and may include restricted cash where that is the figure the company tags. Full details: where the numbers come from.

Balance sheet (as reported)

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures (free cash flow is operating cash flow minus capital expenditures, which can differ from a company’s own definition); “adj” means restated for a stock split (tap or hover a figure to see how it was calculated or what was filed). Diluted EPS includes discontinued operations where a company reports them. Cash & Equivalents excludes short-term investments and may include restricted cash where that is the figure the company tags. Full details: where the numbers come from.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022FY2021
Operating cash flow$4.07B$4.56B$5.45B$485.0M$-206.0M
Capital expenditure$2.75B$2.08B$1.68B$1.30B$1.03B
Free cash flow

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures (free cash flow is operating cash flow minus capital expenditures, which can differ from a company’s own definition); “adj” means restated for a stock split (tap or hover a figure to see how it was calculated or what was filed). Diluted EPS includes discontinued operations where a company reports them. Cash & Equivalents excludes short-term investments and may include restricted cash where that is the figure the company tags. Full details: where the numbers come from.

Quarterly trend

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q2 FY2026$4.40B17.3%$305.0M$0.76
Q1 FY2026$5.00B17.7%$1.03B$2.87
Q4 FY202531.2%
Q3 FY2025$4.78B10.1%$652.0M$1.75
Q2 FY2025$3.75B4.3%$327.0M$0.81
Q1 FY2025$4.25B34.5%$-268.0M$-0.93
Q4 FY202427.2%
Q3 FY2024$4.34B-9.4%$1.89B$5.25

Latest 8 quarters, from company XBRL filings on SEC EDGAR. A dotted underline marks a fourth-quarter figure we calculated from the full year and the first nine months. Revenue YoY is our calculation too: each quarter against the same quarter a year earlier.

Company facts

ExchangeNYSE
SectorUtilities
SIC industryElectric Services
Latest annual periodFY2025 (ended December 31, 2025)
Latest reported quarterQ2 FY2026 (ended June 30, 2026)
Oldest indexed filing2017
SEC CIK1692819

Selected SEC filings

10-K2026-02-27
View on EDGAR →
10-K2025-02-28
View on EDGAR →
10-Q2026-08-10
View on EDGAR →
10-Q2026-05-08
View on EDGAR →
10-Q2025-11-07
View on EDGAR →
10-Q2025-08-08
View on EDGAR →
8-K2026-10-05
View on EDGAR →
8-K2026-09-24
View on EDGAR →

Largest Utilities peers

All Utilities companies →

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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.