— Know what they know.
/
Not Investment Advice

VST

NYSE · USD
Vistra Corp.
Utilities · Independent Power Producers
CEO James A. Burke Employees 6,390 R&D / revenue 0.0%
Last price
$152.02−1.39%last session
Market cap
$51.0B
P/E (TTM)
25.3x
From 52w high
−27.6%
From 52w low
+14.6%
1-year return
−27.8%
RSI 14 · vs SMA200
52.4 · −1.6%
IS score
26.8/ 100
Factor model across 8 sub-scores, ranked against 3,010 US stocks. Describes the business, not the outlook.
Download full factsheet (PDF)

One year, rebased to 100

VST   SPY   XLU (sector ETF) · weekly closes
80100120Jan 26Apr 26Jul 26Oct 26SPY 116XLU 92VST 72

Score DNA

Each bar is a 0-100 score within the scored universe
50
Profitability
18
Growth
42
Value
51
Momentum
30
Risk (safety)
56
Quality
28
Balance sheet
71
Earnings quality

Flags

Strengths
✓ Insider buying✓ Congress buying
Warnings
▲ Altman distress zone
Observations
Moat model: Weak, Efficient ScalePiotroski 7 / 9Altman Z 1.6Beta 1.414 of 4 smart-money sources active

Smart-money strip

Each disclosure source on its own window. Filings coinciding is not coordination.
INSForm 4 · 180 days
Insider open-market buys
3
$1.17M bought
Form 144 notices (12m): 25, $86.7M proposed, not confirmed sales
CONGSTOCK Act · 180 days
Congressional purchases
1
Last disclosed purchase 2026-09-25
Members disclose in ranges, 30-45 days after the trade
13F13F · quarter to 2026-06-30
Net change in institutional holders
+97
235 new holders, 125 closed
1,413 filers hold 85.2% · 622 added, 417 trimmed
ETFETF holdings · 30 days
Net funds accumulating
+220
943 funds adding shares
723 funds trimming · counts of funds, not dollars
DARKFINRA · daily
Short-sale share of off-exchange volume
52.6%
20-day avg 44.4%, 50-day avg 44.8%
Latest 8.2 pp over its 20-day average · a flow, not short interest

Key financials · FY2025

USD, fiscal year. Stock-based compensation is non-cash; shown against FCF.
Income statement
Revenue$17.0B
Revenue growth YoY−12.4%
Gross margin17.5%
Operating income$1.3B
Operating margin7.9%
Net income$944.0M
Net margin5.6%
EPS (diluted)$2.21
Cash flow
Operating cash flow$4.1B
Capital expenditure$3.9B
Free cash flow$129.0M
FCF conversion (FCF / OCF)3.2%
Stock-based compensation$113.0M
FCF less SBC$16.0M
Buybacks$1.0B
Dividends$498.0M
Balance sheet & returns
Cash & short-term investments$816.0M
Total debt$20.1B
Net debt$19.3B
Shareholders' equity$5.1B
Goodwill & intangibles$5.2B
Debt / equity3.63
ROE (TTM)41.5%
ROIC (TTM)8.3%
Operating margin by fiscal year
-7.4%FY202110.8%FY202225.2%FY202332.1%FY20245.8%FY2025
Revenue $13.3B (FY2021) to $17.0B (FY2025), a 6.2% CAGR.

Valuation

P/E (TTM)25.3x
EV / EBITDA10.7x
Price / sales2.66x
Price / FCF37.1x
FCF yield2.70%
Buyback yield2.01%
SBC / revenue-0.6%
Price / book9.34x
Forward P/E FY202617.6x
Forward P/E FY202714.8x
Forward P/E FY202812.5x
Forward multiples divide today's price by Street EPS estimates. Street mean target $207.75 across 8 analysts last quarter is theirs, not ours.

VST vs industry median

33 companies in Independent Power Producers
Gross margin 38.0% 22.6% Operating margin 18.6% 12.4% Net margin 11.6% 7.1% ROIC 8.3% 3.0%
VST (TTM)Industry median Asset turnover 0.45 vs industry 0.25 · financial leverage 7.77

Earnings delivery

Next report 2026-11-06 · consensus EPS $2.71
25%
beat rate, 3 of 12 quarters
−27.8%
median EPS surprise
2
longest beat streak
-21-1471-63-35+350+34-274-7-16-76+117-53
EPS surprise in % vs the consensus at the time, oldest (left) to newest, 2023-11-07 to 2026-08-07. Bars cap at ±60%.

Peers

Market-cap band, not the industry cohort above
CompanyMkt capP/EROENet marginRev growth12m return
VST Vistra Corp. $51.0B25.3x41.5%11.6%−12.4% −27.8%
CEG Constellation Energy Corpora $96.1B26.3x15.3%6.8%+26.0% −31.5%
NRG NRG Energy, Inc. $21.8B27.3x23.8%6.8%+12.9% −38.2%
TLN Talen Energy Corporation $16.8Bn/m-12.9%-12.3%+65.8% −15.1%
OKLO Oklo Inc. $5.2Bn/m-7.7%—— −82.7%
ETR Entergy Corporation $50.2B26.5x10.5%13.8%+9.5% —
SRE Sempra $54.5B24.0x7.1%26.6%+2.8% —
XEL Xcel Energy Inc. $47.7B20.8x9.9%18.8%+4.7% —
12-month window: SPY +15.9%, sector ETF XLU −8.1%. Past returns describe history only.

Recent 8-K filings

2026-10-05Material Agreement; Financial Obligation; Exhibits
2026-09-24Material Agreement; Other Events; Exhibits
2026-08-07Earnings Release; Exhibits
2026-07-16Material Agreement; Financial Obligation; Exhibits
2026-07-14Other Events
2026-06-30Material Agreement; Financial Obligation; Exhibits

Context

Shares outstanding335,635,195
Free float93.3%
Institutional ownership85.2%
Beta1.41
Dividend yield0.60%
Last dividend$0.23 on 2026-09-21
50 / 200-day average$144.67 / $154.64
Large-cap Utilities median P/E20.7x

Full factsheet

The PDF carries everything on this page plus the cash-allocation waterfall, Form 144 notices, 13F holder detail, dark-pool and short-flow history, seasonality and the moat assessment (Weak).

Read it in the browser Download (PDF)

All fundamentals · 140 measures in 13 categories

Percentile = where VST sits among 7 scored companies in Independent Power Producers (0 = lowest value, 100 = highest). It is a position, not a grade.
ValuationProfitability (TTM)Returns on capitalGrowthMargin history & stabilityLiquidity (latest quarter)Leverage & solvency (latest quarter)EfficiencyCash flow & earnings qualityDividends & buybacksScores & forensic checksPer shareSize (TTM)

Valuation

MeasureVSTIndustry medianIndustry percentileSector median
P/E (TTM) 23.0x — 20.7x
PEG (P/E ÷ 3-yr EPS CAGR) 1.48 — 2.20
Price / sales 3.2x 2.9x
80th		 2.4x
Price / book 9.3x 3.0x
83rd		 1.9x
Price / tangible book 139.4x 4.3x
100th		 2.1x
Price / free cash flow 37.1x — 34.3x
Price / operating cash flow 10.0x 16.9x
0th		 9.2x
Enterprise value $70.5B $26.1B
83rd		 $25.7B
EV / sales 4.4x 3.9x
80th		 4.5x
EV / EBITDA 10.5x 13.4x
20th		 11.9x
EV / EBIT 18.2x 26.5x
0th		 19.6x
EV / free cash flow 51.2x — 35.3x
Earnings yield 4.3% 3.6%
100th		 4.8%
FCF yield 2.7% 0.3%
83rd		 -4.2%
Operating cash flow yield 10.0% 5.1%
100th		 10.3%
Graham number (per share) $48.77 — $48.77

Profitability (TTM)

MeasureVSTIndustry medianIndustry percentileSector median
Gross margin 38.0% 22.2%
83rd		 43.4%
EBITDA margin 41.8% 23.0%
100th		 38.7%
Operating margin 2.3% 7.0%
0th		 20.9%
EBIT margin 24.2% 13.8%
100th		 23.2%
Net margin 13.9% 6.3%
100th		 12.4%
NOPAT margin 1.9% 5.7%
0th		 18.1%
FCF margin 8.6% 1.0%
80th		 -7.6%
Operating cash flow margin 32.0% 16.7%
100th		 28.3%
R&D / revenue 0.0% 0.0%
0th		 0.0%
SG&A / revenue 10.6% 10.6%
50th		 4.2%
Stock comp / revenue —
Effective tax rate 20.8% 21.0%
33rd		 18.4%

Returns on capital

MeasureVSTIndustry medianIndustry percentileSector median
ROE (on average equity) 43.1% 8.2%
100th		 9.5%
ROA 5.5% 2.1%
100th		 2.6%
ROIC 1.2% 3.0%
17th		 5.5%
ROCE 12.1% 4.9%
100th		 5.1%
Return on tangible assets 9.6% 4.3%
100th		 4.7%
Cash ROIC (OCF / invested capital) 20.5% 7.6%
100th		 8.0%
Gross profitability (GP / assets) 5.9% 5.9%
50th		 8.6%
ROIC, 3-yr average 4.2% 5.4%
40th		 4.2%
ROIC, 5-yr average 3.9% 5.8%
25th		 4.2%
ROE, 5-yr average 22.9% 12.6%
100th		 9.1%
Incremental ROIC -63.5% 1.2%
0th		 20.6%

Growth

MeasureVSTIndustry medianIndustry percentileSector median
Revenue growth (TTM YoY) -28.4% 19.5%
0th		 7.2%
Revenue growth (QoQ) -13.7% -20.5%
60th		 -16.9%
Revenue CAGR, 3 yr -2.2% 4.4%
20th		 3.0%
Revenue CAGR, 5 yr 6.2% — 6.3%
Gross profit CAGR, 3 yr -13.5% — 7.9%
Operating income CAGR, 3 yr -48.2% — 9.4%
Net income growth (TTM YoY) -7.1% — 8.6%
Net income CAGR, 3 yr 11.6% — 8.8%
EPS growth (TTM YoY) -7.0% — 4.2%
EPS CAGR, 3 yr 15.6% — 6.6%
EPS CAGR, 5 yr —
FCF growth (TTM YoY) -16.8% — -60.5%
FCF CAGR, 3 yr -19.2% — 16.0%
Operating cash flow CAGR, 3 yr 6.7% — 12.7%
Book value CAGR, 3 yr 4.3% 4.3%
40th		 4.7%
Dividend CAGR, 3 yr 3.5% — 0.3%
Sustainable growth rate 33.4% — 3.7%

Margin history & stability

MeasureVSTIndustry medianIndustry percentileSector median
Gross margin, 3-yr average 28.2% 27.8%
60th		 42.6%
Operating margin, 3-yr average 18.3% 7.5%
100th		 20.0%
Net margin, 3-yr average 9.6% 10.4%
40th		 12.5%
FCF margin, 3-yr average 10.0% 0.5%
100th		 -7.9%
Revenue stability (0-1) 0.38 0.75
33rd		 0.75
Earnings stability (0-1) 0.81 0.64
67th		 0.51
Margin stability (0-1) 0.17 0.15
60th		 0.84

Liquidity (latest quarter)

MeasureVSTIndustry medianIndustry percentileSector median
Cash & short-term investments $435.0M $435.0M
50th		 $215.5M
Net cash (− = net debt) −$19.5B −$9.3B
33rd		 −$12.1B
Working capital −$281.0M −$58.7M
33rd		 −$284.5M
Current ratio 0.97 0.97
50th		 0.82
Quick ratio 0.97 0.97
50th		 0.69
Cash ratio (cash + ST investments / current liabilities) 0.04 0.14
17th		 0.08
Defensive interval (days) 464 days 381 days
60th		 314 days

Leverage & solvency (latest quarter)

MeasureVSTIndustry medianIndustry percentileSector median
Total debt $19.9B $9.6B
67th		 $12.5B
Debt / equity 3.63 2.02
67th		 1.61
Net debt / equity 3.55 0.88
67th		 1.60
Debt / assets 46.7% 43.5%
67th		 43.4%
Debt / capital 78.4% 66.9%
67th		 61.8%
Debt / EBITDA 2.98 4.67
20th		 5.59
Net debt / EBITDA 2.91 3.77
40th		 5.53
Interest coverage (EBIT / interest) 3.4x 2.7x
80th		 2.4x
Cash interest coverage 4.5x 2.9x
80th		 3.0x
Debt payback (years of OCF) 3.9 yrs 9.1 yrs
20th		 7.5 yrs
Liabilities / assets 87.1% 67.1%
67th		 70.8%
IS credit model rating BB+ — —
Implied credit spread (bps) 400 400
50th		 750

Efficiency

MeasureVSTIndustry medianIndustry percentileSector median
Asset turnover 0.40 0.40
50th		 0.20
Fixed asset turnover 0.80 0.76
67th		 0.27
Inventory turnover 27.9 7.5
75th		 8.7
Receivables turnover 7.1 8.2
17th		 8.4
Days sales outstanding 52 days 44 days
83rd		 43 days
Days inventory outstanding 13 days 49 days
25th		 42 days
Days payables outstanding 38 days 53 days
33rd		 75 days
Cash conversion cycle (days) 27 days 18 days
67th		 14 days
Capex / revenue 23.4% 14.9%
80th		 35.1%
Capex / depreciation 1.33 1.34
40th		 2.40
Operating expense ratio 20.8% 15.9%
80th		 30.7%

Cash flow & earnings quality

MeasureVSTIndustry medianIndustry percentileSector median
Operating cash flow / net income 2.31 — 2.20
FCF / net income 0.62 — −0.74
FCF / operating cash flow 26.9% 14.9%
80th		 -33.3%
Capex / operating cash flow 73.1% 85.1%
20th		 133.3%
Accruals ratio -7.2% -2.2%
17th		 -3.2%
Sloan accruals ratio -5.3% -5.3%
50th		 -3.7%
Earnings quality score (0-1) 0.75 — 1.00

Dividends & buybacks

MeasureVSTIndustry medianIndustry percentileSector median
Dividend yield 0.6% 0.6%
50th		 3.3%
Dividend per share (TTM) $0.91 $0.91
50th		 $1.87
Payout ratio (dividends / net income) 22.5% — 63.9%
Dividends / FCF 36.3% — 65.6%
Dividend growth (YoY) -0.1% — 3.9%
Buyback yield 0.2% 0.2%
50th		 0.0%
Shareholder yield (dividends + buybacks) 1.2% 1.8%
33rd		 3.3%
Share count change (YoY) -0.1% 8.2%
17th		 2.5%
Buybacks, last 5 years $2.4B $48.0M
83rd		 $0

Scores & forensic checks

MeasureVSTIndustry medianIndustry percentileSector median
IS score 27 35
17th		 40
IS profitability 50 32
100th		 44
IS growth 18 60
0th		 50
IS value 42 40
67th		 56
IS momentum 51 70
20th		 78
IS risk (safety) 30 30
17th		 15
IS quality 56 51
67th		 64
IS balance sheet 28 45
33rd		 28
IS earnings quality 71 71
50th		 79
IS cash flow 41 30
83rd		 35
Piotroski F-score (0-9) 7 5
100th		 6
Altman Z-score 1.6 1.6
67th		 0.9
Beneish M-score −2.95 −2.37
0th		 −2.64
Ohlson O-score −6.30 −6.30
50th		 −7.04
IS credit score 47 47
50th		 29

Per share

MeasureVSTIndustry medianIndustry percentileSector median
EPS, diluted (TTM) $6.54 $2.31
83rd		 $3.13
Book value per share $16.16 $22.90
17th		 $32.52
Tangible book per share $1.18 $18.08
17th		 $32.45
Revenue per share $47.11 $47.11
50th		 $24.86
FCF per share $4.06 $0.87
83rd		 −$1.64
Operating cash flow per share $15.10 $7.33
83rd		 $7.00
Cash per share $1.28 $3.04
33rd		 $0.83

Size (TTM)

MeasureVSTIndustry medianIndustry percentileSector median
Market cap $51.0B $16.8B
83rd		 $8.5B
Revenue $16.0B $3.5B
67th		 $5.4B
EBITDA $6.7B $742.0M
83rd		 $2.7B
Net income $2.2B $120.3M
83rd		 $559.7M
Free cash flow $1.4B $309.0M
100th		 −$190.6M
Total assets $42.6B $15.1B
83rd		 $34.0B
Shareholders' equity $5.5B $3.3B
83rd		 $5.1B
Employees 6,390 1,880
67th		 5,870

Insider transactions, last 6 months

Form 4 · most recent 12
DateInsiderTypeSharesPriceValueOwned after
2026-10-07Moldovan Kristopher E.
EVP and CFO
 Open-market sale 20,000$165.00$3.3M179,044
2026-10-06Hudson Scott A
EVP & President Vistra Retail
 Open-market sale 22,222$160.14$3.6M308,915
2026-09-08Moldovan Kristopher E.
EVP and CFO
 Open-market sale 20,000$151.03$3.0M199,044
2026-09-08Hudson Scott A
EVP & President Vistra Retail
 Open-market sale 7,777$150.97$1.2M367,804
2026-09-08Hudson Scott A
EVP & President Vistra Retail
 Open-market sale 28,826$151.85$4.4M338,978
2026-09-08Hudson Scott A
EVP & President Vistra Retail
 Open-market sale 7,841$152.56$1.2M331,137
2026-09-01Burke James A
Director, President and CEO
 Open-market buy 4,465$135.25$603,8911,146,352
2026-08-31Burke James A
Director, President and CEO
 Open-market buy 2,200$135.99$299,1781,141,887
2026-08-24Burke James A
Director, President and CEO
 Open-market buy 2,000$135.00$270,0001,139,687
2026-06-18Sult John R
Director
 Open-market sale 6,500$170.00$1.1M70,714
2026-06-18Acosta Arcilia
Director
 Open-market sale 7,500$165.04$1.2M40,107
2026-06-18Acosta Arcilia
Director
 Open-market sale 7,500$170.00$1.3M32,607

Shares acquired vs disposed, by month

acquired disposed · all Form 4 types
MarMayJunAugSepOct

By transaction type, 6 months

TypeDirectionFilingsSharesValue
Award / grantAcquired1013,420—
Open-market buyAcquired38,665$1.2M
Open-market saleDisposed14163,254$25.9M
Awards, option exercises and tax withholding are compensation mechanics; open-market buys and sales are the discretionary ones.

Form 144 notices

12 months: 25 notices · 508,749 shares · $86.7M
FiledFilerShares proposedEst. proceeds
2026-10-07Moldovan Kristopher E.20,000$3.1M
2026-10-06Scott A Hudson22,222$3.6M
2026-09-08Moldovan Kristopher E.20,000$3.0M
2026-09-08Scott A Hudson44,444$6.7M
A Form 144 is notice of a proposed sale, not a confirmed one.

Congress trades

12 months: House 9 trades (7 purchases) · Senate 0 (0 purchases)
TradedMemberChamberTypeAmountDisclosed
2026-09-25Ro KhannaHousePurchase$1,001 - $15,0002026-10-09
2026-04-13Ro KhannaHousePurchase$1,001 - $15,0002026-05-13
2026-02-17Julia LetlowHousePurchase$1,001 - $15,0002026-03-13
2026-02-17Julia LetlowHousePurchase$1,001 - $15,0002026-03-13
STOCK Act disclosures, in ranges, filed up to 45 days after the trade.

Largest 13F holders

Quarter to 2026-06-30, the latest most managers have filed
ManagerSharesValue% of shares out
BlackRock, Inc.29,064,465$4.6B8.66%
VANGUARD CAPITAL MANAGEMENT LLC21,393,858$3.4B6.37%
VANGUARD PORTFOLIO MANAGEMENT LLC16,939,291$2.7B5.05%
STATE STREET CORP16,850,452$2.7B5.02%
FMR LLC14,160,202$2.2B4.22%
GEODE CAPITAL MANAGEMENT, LLC9,037,395$1.4B2.69%
NORGES BANK5,811,201$921.8M1.73%
GOLDMAN SACHS GROUP INC4,742,324$752.3M1.41%
UBS Group AG3,948,527$626.4M1.18%
Invesco Ltd.3,713,835$589.1M1.11%
DIMENSIONAL FUND ADVISORS LP3,546,461$562.7M1.06%
MASSACHUSETTS FINANCIAL SERVICES CO /MA/3,160,826$501.6M0.94%
JPMORGAN CHASE & CO2,975,919$483.2M0.89%
BANK OF AMERICA CORP /DE/2,952,496$468.4M0.88%
PRICE T ROWE ASSOCIATES INC /MD/2,851,055$452.3M0.85%

Institutional ownership by quarter

2023-092026-0685.2%
% of shares held by 13F filers
2023-092026-061,413
Number of 13F filers holding

Holder changes by quarter

QuarterHoldersOwnershipNewIncreasedReducedClosed
2026-06-301,41385.2%235622417125
2026-03-311,31682.3%185574405185
2025-12-311,33986.2%218505486181
2025-09-301,33184.0%210517460131
2025-06-301,27185.7%282502387112
2025-03-311,11180.9%198449367169
2024-12-311,10085.1%28339234779
2024-09-3091388.9%22233829196
2024-06-3079491.2%21823828979
2024-03-3166694.9%17719424351
2023-12-3154493.4%11917519959
2023-09-3049198.7%11914917341

Schedule 13D / 13G filers

FiledFormFiler% of classShares
2026-08-07SCHEDULE 13GSTATE STREET CORPORATION5.0%16,867,244
2026-04-28SCHEDULE 13GVanguard Capital Management7.2%24,565,610
2026-04-28SCHEDULE 13GVanguard Portfolio Management5.0%16,991,032
2026-03-26SCHEDULE 13G/AThe Vanguard Group0.0%0
Required above 5% of a class; 13G is the passive form.

ETFs with the largest holding

ETFWeight in fundHolding value
VITSX0.06%$1.5B
VSMPX0.06%$1.5B
VTSAX0.06%$1.5B
VTI0.06%$1.5B
VFIAX0.07%$1.1B
VOO0.07%$1.1B

Share structure

Shares outstanding335,635,195
Float312,989,888
Free float93.3%

Income statement

Fiscal years, USD
FY2021FY2022FY2023FY2024FY2025
Revenue$13.3B$17.8B$15.5B$19.4B$17.0B
Cost of revenue$13.3B$14.0B$10.4B$11.7B$14.0B
Gross profit$60.0M$3.8B$5.2B$7.7B$3.0B
R&D$0$0$0$0$0
SG&A$1.0B$1.2B$1.3B$1.5B$1.6B
Operating income−$988.0M$2.6B$3.9B$6.2B$1.3B
EBITDA$852.0M$1.3B$4.6B$7.2B$5.3B
Pretax income−$1.7B−$1.6B$2.0B$3.5B$1.1B
Income tax−$458.0M−$350.0M$508.0M$655.0M$179.0M
Net income−$1.3B−$1.2B$1.5B$2.7B$944.0M
EPS, diluted$-2.62$-2.86$3.58$7.00$2.21
Diluted shares482.2M422.4M375.2M352.6M339.8M

Balance sheet

FY2021FY2022FY2023FY2024FY2025
Cash & short-term investments$1.3B$455.0M$3.5B$1.2B$816.0M
Receivables$2.0B$2.1B$1.7B$2.0B$2.3B
Inventory$610.0M$570.0M$740.0M$970.0M$1.0B
Total current assets$7.9B$11.1B$11.6B$8.1B$9.2B
PP&E, net$13.1B$12.6B$12.4B$18.2B$19.9B
Goodwill & intangibles$4.7B$4.5B$4.4B$5.0B$5.2B
Total assets$29.7B$32.8B$33.0B$37.8B$41.5B
Accounts payable$1.5B$1.6B$1.1B$1.5B$1.6B
Total current liabilities$5.8B$10.3B$9.8B$8.4B$11.8B
Long-term debt$10.5B$11.9B$12.1B$15.4B$15.8B
Total liabilities$21.4B$27.9B$27.6B$32.2B$36.4B
Shareholders' equity$8.3B$4.9B$5.3B$5.6B$5.1B

Cash flow statement

Outflows are negative
FY2021FY2022FY2023FY2024FY2025
Net income−$1.3B−$1.2B$1.5B$2.8B$944.0M
Depreciation & amortization$2.0B$2.0B$2.0B$2.6B$3.0B
Stock-based compensation$47.0M$63.0M$77.0M$100.0M$113.0M
Change in working capital−$1.3B−$2.6B$1.6B−$416.0M−$1.2B
Operating cash flow−$206.0M$485.0M$5.5B$4.6B$4.1B
Capital expenditure−$1.0B−$1.3B−$1.7B−$2.1B−$3.9B
Free cash flow−$1.2B−$816.0M$3.8B$2.5B$129.0M
Investing cash flow−$1.2B−$1.2B−$2.1B−$5.3B−$4.4B
Net debt issued / repaid$1.4B$1.9B$1.8B$1.5B$2.2B
Buybacks−$471.0M−$1.9B−$1.2B−$1.3B−$1.0B
Dividends paid−$290.0M−$453.0M−$463.0M−$478.0M−$498.0M

Ratio history

Margins on the fiscal-year (TTM at Q4) basis; multiples at each year end
FY2021FY2022FY2023FY2024FY2025
Gross margin0.5%17.6%33.3%39.7%15.9%
Operating margin-7.4%10.8%25.2%32.1%5.8%
Net margin-9.6%-6.9%9.6%13.7%5.6%
FCF margin-9.3%-4.6%24.3%12.1%3.8%
ROE-15.3%-18.6%29.2%48.9%17.7%
ROIC-4.3%8.5%17.7%23.2%3.3%
ROA-4.6%-3.9%4.5%7.5%2.4%
Debt / equity1.332.722.773.123.99
Interest coveragen/mn/m3.7x4.2x1.7x
Current ratio1.351.081.180.960.78
Revenue growth+20.0%+34.4%−12.9%+24.7%−13.7%
EPS growth−309.0%−15.6%+235.3%+84.2%−64.5%
P/E at year endn/mn/m8.9x17.5x58.1x
EV / EBITDA at year end21.9x16.3x5.3x8.7x15.2x
FCF yield at year end-12.48%-9.37%28.30%5.05%1.17%
Dividend payout——31.0%18.0%52.8%

Revenue by segment

FY2021FY2022FY2023FY2024FY2025
Retail Segment$5.7B$9.5B$7.7B$8.1B$9.0B
Retail Energy Charge In ERCOT——$7.7B$8.1B$9.0B
Texas Segment$6.3B$3.7B$2.9B$2.0B$3.2B
East Segment$2.3B$3.7B$1.6B$3.6B$4.1B
Retail Energy Charge In Northeast/Midwest——$1.6B$3.6B$4.1B
Revenue From Other Wholesale Contracts$3.4B—$1.6B$1.1B$1.4B
Wholesale Generation Revenue From ERCOT——$2.9B$2.0B$3.2B
Total Other Revenues—−$4.8B$975.0M$2.5B$152.0M
Asset Closure Segment$0$1.8B———
Hedging And Other Revenues—$1.0M$971.0M—−$766.0M
Sunset Segment$739.0M————
West Segment$374.0M$618.0M———
Capacity Revenue——$98.0M$74.0M$227.0M
Retail Contract Amortization—$0−$6.0M——
Intersegment Sales———−$7.5B−$8.5B
Affiliate Sales—−$4.8B$0——

Revenue by region · FY2025

East Segment$6.2B · 95%
West Segment$328.0M · 5%

Street estimates by fiscal year

Next report 2026-11-06 · consensus EPS $2.71 · these are analysts' numbers, not ours
Fiscal yearRevenue (mean)Revenue rangeEPS (mean)EPS rangeAnalystsP/E on mean EPS
2026$22.5B$19.2B – $24.6B$8.65$7.52 – $10.19817.6x
2027$24.6B$20.3B – $28.0B$10.25$8.78 – $12.29914.8x
2028$26.0B$18.7B – $31.8B$12.14$11.31 – $13.86812.5x

Reported vs expected, every quarter on file

ReportedEPS expectedEPS actualEPS surpriseRevenue expectedRevenue actualRevenue surprise
2026-08-07$1.61$0.76−52.8%$5.5B$4.0B−26.5%
2026-05-07$1.32$2.87+117.4%$5.2B$5.6B+8.1%
2026-02-26$2.31$0.54−76.5%$5.8B$4.6B−20.8%
2025-11-06$2.08$1.75−15.9%$6.1B$5.0B−18.7%
2025-08-06$0.88$0.81−7.4%$4.7B$4.2B−10.4%
2025-05-08$0.54$-0.93−273.5%$4.5B$5.2B+13.7%
2025-02-27$0.85$1.14+34.1%$3.9B$7.4B+88.1%
2024-11-07$1.20$5.40+350.0%$5.0B$5.5B+10.4%
2024-08-08$1.38$0.90−34.8%$4.0B$3.7B−7.0%
2024-05-09$0.62$0.23−62.8%$2.9B$2.8B−4.5%
2024-02-28$-0.04$-0.55−1,471.4%$3.5B$3.4B−2.3%
2023-11-07$1.58$1.25−20.9%$4.1B$5.2B+27.4%
2023-08-09$0.82$1.17+42.7%$5.9B$3.2B−46.0%
2023-05-09$-0.02$-0.40−1,900.0%$1.9B$3.8B+98.8%
2023-03-01$4.63$-0.73−115.8%$6.4B$4.3B−32.9%
2022-11-04$1.58$1.51−4.4%$6.6B$5.8B−12.5%
2022-08-05$0.17$1.48+770.6%$4.0B$3.8B−6.0%
2022-05-06$0.23$-0.06−126.1%$3.8B$4.0B+3.2%
2022-02-25$1.60$1.50−6.3%$6.0B$3.5B−41.8%
2021-11-05$1.52$0.03−98.0%$4.7B$3.9B−17.0%
2021-08-05$0.55$0.07−87.3%$3.3B$2.7B−17.0%
2021-05-04$-2.33$-4.21−80.7%$2.3B$3.1B+35.7%
2021-02-26$0.87$-0.02−102.3%$4.7B$2.5B−45.9%
2020-11-04$0.76$0.97+27.6%$3.0B$3.4B+13.2%

Off-exchange (dark pool) volume, weekly

FINRA ATS, $ billions · through the week of 2026-08-31 (FINRA publishes with a delay)
0.806-150.806-220.706-290.607-061.007-130.607-201.007-271.308-030.608-100.708-170.508-240.608-31
Week ofNotionalSharesTrades
2026-08-31$643.7M4,527,634105,760
2026-08-24$511.6M3,693,56295,083
2026-08-17$688.1M4,881,648111,305
2026-08-10$627.1M4,303,326102,788
2026-08-03$1.3B9,094,134159,540
2026-07-27$1.0B6,863,974139,487

Short-sale share of off-exchange volume

daily 20-day average
07-2310-1552.6%
DateShort shareShort volumeTotal volume
2026-10-1552.6%1,672,5733,176,789
2026-10-1439.3%1,265,7033,221,251
2026-10-1347.4%1,099,3592,318,655
2026-10-1232.0%944,9182,954,976
2026-10-0937.9%1,185,9853,132,558
2026-10-0840.5%2,303,9595,688,405
2026-10-0747.6%2,803,1205,890,225
2026-10-0644.7%3,818,1338,535,131
2026-10-0550.8%2,481,7654,889,456
2026-10-0244.5%1,987,2664,461,494
A daily flow measure from FINRA, not short interest.

Seasonality

Average return by calendar month
+4.2Jan-1.3Feb+2.7Mar+5.6Apr+5.5May+1.5Jun+0.6Jul+4.7Aug+7.0Sep+0.9Oct+3.2Nov+1.3Dec
MonthAvg returnUp yearsYears
Jan+4.2%70%10
Feb−1.3%40%10
Mar+2.7%50%10
Apr+5.6%78%9
May+5.5%67%9
Jun+1.5%44%9
Jul+0.6%44%9
Aug+4.7%78%9
Sep+7.0%78%9
Oct+0.9%60%10
Nov+3.2%50%10
Dec+1.3%40%10
History, not a forecast.

Indicators

as of 2026-10-16
RSI 1452.4
MFI56.1
ADX19.6
Stochastic %K / %D54.4 / 62.2
Williams %R-47.4
CCI38
TSI / signal14.2 / 10.1
Chaikin money flow0.16
ATR$7.45
Bollinger width26.5%
Volume vs 20-day avg0.61x
SupertrendUp

Moving averages and bands

level (price vs level)
SMA 20$148.04 (+2.7%)
SMA 50$144.84 (+5.0%)
SMA 200$154.55 (−1.6%)
EMA 21$150.50 (+1.0%)
EMA 50$148.19 (+2.6%)
EMA 200$154.26 (−1.5%)
Bollinger upper$167.63 (−9.3%)
Bollinger lower$128.44 (+18.4%)
Parabolic SAR$168.29 (−9.7%)
Open the live chart, 110+ indicators

About Vistra Corp.

Vistra Corp., along with its various holdings, functions as a unified entity primarily engaged in retail electricity supply and power generation. The company organizes its operations across six distinct segments: Retail, Texas, East, West, Sunset, and Asset Closure. It directly provides electricity and natural gas to residential, commercial, and industrial clients throughout 20 U.S. states and the District of Columbia. Beyond its retail endeavors, Vistra also participates in generating electricity, facilitating wholesale energy transactions, managing commodity-related risks, producing fuel, and overseeing fuel logistics. With approximately 4.3 million customers, Vistra commands an impressive generation capacity of about 38,700 megawatts. This capacity is sustained by a diverse portfolio of facilities, including those powered by natural gas, nuclear energy, coal, solar, and advanced battery energy storage systems. The enterprise, initially known as Vistra Energy Corp., adopted its current name, Vistra Corp., in July 2020. Tracing its origins back to 1882, Vistra Corp. maintains its corporate headquarters in Irving, Texas.

https://www.vistracorp.com

Key executives

NameTitlePayBorn
James A. BurkePresident, Chief Executive Officer & Director$4.6M1968
Stacey H. DoreChief Strategy and Sustainability Officer & Executive Vice President of Public Affairs$1.6M1973
Scott A. HudsonExecutive Vice President & President of Retail$1.5M1964
Kristopher E. MoldovanExecutive Vice President & Chief Financial Officer$1.5M1972
Stephanie Zapata MooreExecutive Vice President, General Counsel & Chief Compliance Officer$1.4M1973
Eric MicekVice President of Investor Relations——
Margaret MontemayorSenior Vice President, Chief Accounting Officer & Controller—1978
Sano BlockerSenior Vice President of Government Affairs——

Executive pay, latest proxy

ExecutiveYearSalaryStock awardsIncentiveTotal
James A. Burke President and Chief Executive Officer2025$1.4M$11.4M$3.0M$16.0M
Stacey Doré Chief Strategy and Sustainability Officer & EVP Public Affairs2025$654,722$5.2M$869,952$6.8M
Kristopher E. Moldovan EVP and Chief Financial Officer2025$665,148$5.2M$810,155$6.7M
Scott A. Hudson EVP and President Vistra Retail2025$649,995$2.6M$838,155$4.1M
Stephanie Zapata Moore EVP, General Counsel, and Chief Compliance Officer2025$604,773$1.8M$709,044$3.2M

Employees

5k20185k20195k20205k20215k20225k20237k20246k2025

Dividends

Ex-dateAmountPaid
2026-09-21$0.232026-09-30
2026-06-22$0.2292026-06-30
2026-03-20$0.2282026-03-31
2025-12-22$0.2272025-12-31
2025-09-19$0.2262025-09-30
2025-06-18$0.2252025-06-30
2025-03-20$0.22352025-03-31
2024-12-20$0.22152024-12-31

Moat model

Weak · Efficient Scale · 2026-06-30
Cost advantage67
Intangibles39
Switching costs34
Network effect40
Efficient scale80
Our component scores (0-100) and overall 49.7; a model of the business, not a call on the stock.
InsiderStreet reports findings from filings and market data. Nothing on this page is a recommendation to buy or sell.Every figure is computed in code · data as of 2026-10-17

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