Vistra VST financials
Utilities & Power · Statements and segments from its SEC filings, 2017 to 2025.
Vistra revenue, gross and operating margin, net income, free cash flow, cash and debt by quarter and by fiscal year, and revenue by segment, read from the company's own filings with the US Securities and Exchange Commission. Free to everyone; the Risk & Quality report that scores the company is the paid step.
- revenue by segment: Retail, East, Texas, West, Asset Closure, ERCOT Segment, PJM Segment, NY/NE Segment, Sunset, MISO Segment, Other / unallocated
- revenue by product: Retail energy charge in ERCOT, Retail energy charge in Northeast/Midwest, Wholesale generation revenue from ISO/RTO, Revenue from other wholesale contracts, Hedging revenues — realized, Transferable PTC revenues, Capacity revenue from ISO/RTO, Transferable Nuclear Production Tax Credit Revenues, Business interruption insurance proceeds, Intangible amortization and other revenues, Hedging revenues — unrealized, Intangible amortization, Affiliate sales, Other / unallocated
The numbers
Annual figures
| Line | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $5.4B | $9.1B | $11.8B | $11.4B | $12.1B | $13.7B | $14.8B | $17.2B | $17.7B |
| Operating income | $198M | $491M | $2B | $1.5B | -$1.5B | -$1.2B | $2.7B | $4.1B | $1.9B |
| Net income | -$254M | -$54M | $928M | $636M | -$1.3B | -$1.2B | $1.5B | $2.7B | $944M |
| EPS (diluted) | -$0.59 | -$0.11 | $1.86 | $1.30 | -$2.69 | -$3.26 | $3.58 | $7.00 | $2.18 |
| Operating cash flow | $1.4B | $1.5B | $2.7B | $3.3B | -$206M | $485M | $5.5B | $4.6B | $4.1B |
| Free cash flow | $1.3B* | $941M* | $2B* | $2.1B* | -$1.2B* | -$816M* | $3.8B* | $2.5B* | $1.3B* |
| Cash & equivalents | $1.5B | $636M | $300M | $406M | $1.3B | $455M | $3.5B | $1.2B | $785M |
| Total debt | $4.4B | $10.9B | $10.1B | $9.2B | $10.5B | $11.9B | $14.4B | $16.3B | $17B |
| Operating margin | 3.6% | 5.4% | 16.9% | 13.3% | -12.5% | -8.6% | 18.0% | 23.7% | 10.7% |
| Net margin | -4.7% | -0.6% | 7.9% | 5.6% | -10.5% | -8.9% | 10.1% | 15.4% | 5.3% |
Latest quarters
| Line | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $6.3B | $4B* | $3.9B | $4.3B | $5B | $4.6B* | $5.6B | $4B |
| Operating income | $2.6B | $599M* | -$120M | $515M | $1B | $474M* | $1.5B | $553M |
| Net income | $1.9B | $441M* | -$268M | $327M | $652M | $233M* | $1B | $305M |
| EPS (diluted) | $5.25 | $1.14* | -$0.93 | $0.81 | $1.75 | $0.54* | $2.87 | $0.76 |
| Operating cash flow | $1.7B* | $1.4B* | $599M | $572M* | $1.5B* | $1.4B* | $1.2B | $1B* |
| Free cash flow | $1B* | $923M* | -$169M* | -$118M* | $1B* | $596M* | $316M* | $334M* |
| Cash & equivalents | $905M | $1.2B | $561M | $458M | $602M | $785M | $634M | $435M |
| Total debt | $14.7B | $16.3B | $16.3B | $15.8B | $16B | $17B | $19.2B | $19.6B |
| Operating margin | 41.2% | 14.8% | -3.1% | 12.1% | 20.9% | 10.3% | 26.6% | 13.8% |
| Net margin | 30.0% | 10.9% | -6.8% | 7.7% | 13.1% | 5.1% | 18.2% | 7.6% |
Revenue by segment
| Line | FY2017 | FY2018 | FY2019 | FY2020 | FY2021* | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|
| Retail | $4.1B | $5.6B | $6.9B | $8.3B | $7.9B | $9.5B | $10.6B | $12.8B | $14.3B |
| East | - | - | - | $2.4B | $2.6B | $3.7B | $5.9B | $5.7B | $6.2B |
| Texas | - | - | - | $4.1B | $2.8B | $3.7B | $4B | $5.4B | $5.4B |
| West | - | - | - | $282M | $374M | $336M | $866M | $839M | $325M |
| Asset Closure | $964M | $371M | $341M | $319M | $86M | $296M | $48M | $39M | $74M |
| ERCOT Segment | $1.8B | $2.6B | $4B | - | - | - | - | - | - |
| PJM Segment | - | $1.7B | $2.4B | - | - | - | - | - | - |
| NY/NE Segment | - | $817M | $1.1B | - | - | - | - | - | - |
| Sunset | - | - | - | $936M | $653M | $956M | - | - | - |
| MISO Segment | - | $399M | $658M | - | - | - | - | - | - |
| Other / unallocated | - | - | - | - | $3.3B* | - | - | - | - |
Segment figures include sales between segments, so they add up to more than consolidated revenue.
Revenue by product
| Line | FY2018* | FY2019 | FY2020 | FY2021 | FY2022* | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Retail energy charge in ERCOT | $4.4B | $5B | $5.8B | $5.7B | $7B | $7.7B | $8.1B | $9B |
| Retail energy charge in Northeast/Midwest | $1.1B | $1.8B | $2.4B | $2.3B | $2.1B | $1.6B | $3.6B | $4.1B |
| Wholesale generation revenue from ISO/RTO | $3.1B | $3.2B | $1.4B | $6.3B | $4.3B | $2.9B | $2B | $3.2B |
| Revenue from other wholesale contracts | $424M | $1.1B | $1.1B | $3.2B | $2.1B | $1.5B | $1.1B | $1.1B |
| Hedging revenues — realized | - | - | - | - | - | $252M | $895M | $583M |
| Transferable PTC revenues | - | - | - | - | - | $10M | $556M | $229M |
| Capacity revenue from ISO/RTO | $698M | $378M | $112M | $163M | $103M | $98M | $74M | $227M |
| Transferable Nuclear Production Tax Credit Revenues | - | - | - | - | - | - | $545M | $220M |
| Business interruption insurance proceeds | - | - | - | - | - | - | - | $118M |
| Intangible amortization and other revenues | - | - | - | - | - | -$1M | -$1M | -$12M |
| Hedging revenues — unrealized | -$610M | $294M | $617M | -$5.7B | -$1.9B | $714M | $1B | -$766M |
| Intangible amortization | -$43M | -$32M | -$24M | $60M | -$6M | - | - | - |
| Affiliate sales | $0 | $0 | $0 | $0 | $0 | - | - | - |
| Other / unallocated | $653M* | - | - | - | $1.9B* | - | - | - |
Segment figures include sales between segments, so they add up to more than consolidated revenue.
* derived: a fourth quarter as the year less the three filed quarters, or a remainder as the total less the parts. All other figures are as filed.
About this page
Every figure on this page is read from Vistra's own SEC filings: the statement lines from the SEC's XBRL company-facts feed, the revenue splits from the segment and revenue notes of each 10-K and 10-Q. Nothing is typed in or estimated. The cache refreshes daily.
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