A Business at a Glance
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References in this report to "we," "our," "us," and "the Company" are to Vistra and/or its subsidiaries, as apparent in the context. See Glossary of Terms and Abbreviations for defined terms. 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.
| Segment | 2021 | 2022 | 2023 | 2024 | 2025 | % of Total |
|---|---|---|---|---|---|---|
Retail energy charge in ERCOT | $5.73B | $6.97B | $7.67B | $8.06B | $8.97B | 34% |
Operating Segments | $5.73B | $6.97B | $7.67B | $8.06B | $8.97B | 34% |
Retail energy charge in Northeast/Midwest | $2.25B | $2.14B | $1.64B | $3.60B | $4.06B | 15% |
Wholesale generation revenue from ISO/RTO | $6.35B | $4.29B | $2.91B | $1.98B | $3.19B | 12% |
Revenue from other wholesale contracts | $3.20B | $2.13B | $1.48B | $1.05B | $1.15B | 4% |
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 17.7B | 17.7B | 17.2B | 14.8B | 13.7B | 12.1B |
| Net Income | 752M | 752M | 2.5B | 1.3B | -1.4B | -1.3B |
| EPS | $2.18 | $2.18 | $7.00 | $3.58 | $-3.26 | $-2.69 |
| Free Cash Flow | 1.3B | 1.3B | 2.5B | 3.8B | -816M | -1.2B |
| ROIC | 6.6% | 7.7% | 17.0% | 13.2% | -8.2% | -6.9% |
| Gross Margin | - | - | - | - | - | - |
| Debt/Equity | 3.70 | 3.70 | 2.93 | 3.14 | 2.59 | 1.30 |
| Dividends/Share | $0.89 | $0.90 | $0.87 | $0.83 | $0.71 | $0.60 |
| Operating Income | 1.9B | 1.9B | 4.1B | 2.7B | -1.2B | -1.5B |
| Operating Margin | 10.7% | 10.7% | 23.7% | 18.0% | -8.6% | -12.5% |
| ROE | 14.8% | 14.1% | 44.3% | 25.3% | -28.1% | -15.6% |
| Shares Outstanding | 345M | 345M | 352M | 375M | 422M | 481M |
Vistra Corp. passes 4 of 9 quality checks, suggesting mixed fundamentals.
Vistra Corp. trades at 72.6x trailing earnings, compared to its 15-year median P/E of 13.2x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 40.4x vs a median of 5.2x. The company's 5-year average ROIC is 4.6%. Total shareholder yield (dividends + buybacks) is 2.4%. At current prices, the estimated annualized return to fair value is +13.7%.
Vistra Corp. (VST) has a current P/E ratio of 72.6, compared to its historical median P/E of 13.2. The stock is currently considered Expensive based on its historical valuation range.
Vistra Corp. (VST) has a 5-year average return on invested capital (ROIC) of 4.6%. This is below average and may indicate limited pricing power.
Vistra Corp. (VST) has a market capitalization of $54.6B. It is classified as a large-cap stock.
Yes, Vistra Corp. (VST) pays a dividend with a trailing twelve-month yield of 0.56%. The company also returns capital through share buybacks, with a buyback yield of 1.88%.
Based on historical P/E analysis, Vistra Corp. (VST) appears expensive. The current P/E of 72.6 is 449% above its historical median of 13.2. The estimated fair value CAGR (P/E method) is 28.0%.
Vistra Corp. (VST) operates in the Electric Services industry, within the Utilities sector.
Vistra Corp. (VST) reported annual revenue of $17.7 billion in its most recent fiscal year, based on SEC EDGAR filings.
Vistra Corp. (VST) has a net profit margin of 4.2%. This is a modest margin.
Vistra Corp. (VST) generated $1.3 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Vistra Corp. (VST) has a debt-to-equity ratio of 3.70. This indicates higher leverage, which may increase financial risk.
Vistra Corp. (VST) reported earnings per share (EPS) of $2.18 in its most recent fiscal year.
Vistra Corp. (VST) has a return on equity (ROE) of 14.1%. This indicates moderate shareholder returns.
The Ledger Terminal provides 9 years of financial data for Vistra Corp. (VST), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Vistra Corp. (VST) has a book value per share of $14.78, based on its most recent annual SEC filing.