Vistra Corp.

Utilities Electric Utilities Irving, Texas Last filing Feb 27, 2026 · FY2025

                    Revenue
                    FY2025
                
$17.7B
                    3y CAGR +8.9%
                    
                    P93
                    
                    +3.0%
                    
                    Net income
                    FY2025
                
$944.0M
                    Net margin +5.3%
                    
                    P7
                    
                    -64.5%
                    
                    Total assets
                    FY2025
                
$41.5B
                    ROA +2.3%
                    
                    P23
                    
                    +10.0%
                    
                    Operating cash flow
                    FY2025
                
$4.1B
                    FCF margin +7.4%
                    
                    P97
                    
                    -10.8%

10 yrs · FY2016–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s revenue.

Balance Sheet

Assets, liabilities, and equity

22 accounts · 5 years

Total assets $41.5B

Total liabilities $36.4B

Shareholders equity $5.1B

Account	2025	2024	2023	2022	2021
Assets
Cash and Cash Equivalents	4.4%	6.9%	23.6%	3.6%	11.1%
Accounts Receivable	13.1%	11.5%	11.3%	15.0%	16.1%
Other Current Assets	28.5%	23.1%	43.8%	62.4%	38.1%
Total Current Assets	51.7%	47.1%	78.7%	81.0%	65.3%
Property,Plant and Equipment	111.9%	105.5%	84.1%	91.4%	108.1%
Other Noncurrent Assets	70.6%	66.6%	60.2%	66.4%	72.4%
Total Assets	234.2%	219.3%	223.1%	238.8%	245.8%
Liabilities
Current Portion of Long Term Debt	16.9%	5.1%	15.5%	4.7%	2.1%
Other Current Liabilities	49.7%	43.8%	51.0%	70.3%	46.3%
Total Current Liabilities	66.6%	49.0%	66.5%	75.3%	48.4%
Long Term Debt	89.3%	89.5%	82.0%	86.9%	86.8%
Other Noncurrent Liabilities	49.5%	48.4%	38.6%	33.5%	29.7%
Total Liabilities	205.4%	186.9%	187.0%	203.0%	177.1%
Equity
Total Stockholders Equity	28.7%	32.3%	35.9%	35.7%	68.7%
Preferred Stock	14.0%	14.4%	16.8%	14.6%	16.6%
Common Stock	0.0%	0.0%	0.0%	0.0%	0.0%
Additional Paid In Capital	53.8%	54.8%	68.3%	72.3%	81.3%
Retained Earnings	-0.1%	-2.6%	-17.7%	-26.5%	-16.3%
Treasury Stock	39.0%	34.3%	31.5%	24.7%	12.9%
Accumulated Other Comprehensive Income	0.1%	0.1%	0.0%	0.1%	-0.1%
Noncontrolling Interest	0.1%	0.1%	0.1%	0.1%	0.0%
Total Liabilitiesand Equity	234.2%	219.3%	223.1%	238.8%	245.8%

Income Statement

Revenue, expense, and profitability

13 accounts · 5 years

Revenue $17.7B

Operating income $1.9B

Net income $944.0M

Account	2025	2024	2023	2022	2021
IncomeStatement
Revenues Total Revenue	100.0%	100.0%	100.0%	100.0%	100.0%
Expenses Depreciation and Amortization	11.2%	10.7%	10.2%	11.6%	14.5%
Expenses Other Operating Expenses	1.3%	0.0%	0.3%	96.9%	98.0%
Other Income Expense Operating Income	10.7%	23.7%	18.0%	-8.6%	-12.5%
Other Income Expense Interest Expense	6.6%	5.2%	5.0%	2.7%	3.2%
Other Income Expense Other Income/expense	2.2%	1.7%	0.5%	-0.1%	1.5%
Other Income Expense Income Before Tax	6.3%	20.1%	13.5%	-11.4%	-14.3%
Income Tax Income Tax Expense	1.0%	3.8%	3.4%	-2.5%	-3.8%
net Income Other Items Below Tax	-77.9%	-67.6%	-72.5%	-1.2%	-0.3%
net Income net Income	5.3%	15.4%	10.1%	-8.9%	-10.5%
Earnings Per Share Basic Eps	0.0%	0.0%	0.0%	-0.0%	-0.0%
Earnings Per Share Diluted Eps	0.0%	0.0%	0.0%	-0.0%	-0.0%
Earnings Per Share Weighted Average Shares Diluted	1.9%	2.0%	2.5%	3.1%	4.0%

Cash Flow Statement

Operating, investing, and financing flows

15 accounts · 5 years

Operating cash flow $4.1B

Investing cash flow $-4.4B

Financing cash flow $-74.0M

Account	2025	2024	2023	2022	2021
CashFlow
Operating Activities net Cash From Operating Activities	22.9%	26.5%	36.9%	3.5%	-1.7%
Operating Activities net Income	5.3%	16.3%	10.1%	-8.8%	-10.5%
Operating Activities Depreciation and Amortization	16.6%	15.3%	13.2%	14.9%	17.0%
Operating Activities Stock Based Compensation	0.6%	0.6%	0.5%	0.5%	0.4%
Operating Activities Other Non Cash Items	0.4%	-5.7%	13.0%	-3.0%	-8.6%
Investing Activities Capital Expenditures	-15.5%	-12.1%	-11.3%	-9.5%	-8.6%
Investing Activities Other Investing Activities	-2.8%	-0.8%	-3.2%	0.5%	-1.0%
Investing Activities net Cash From Investing Activities	-24.8%	-30.6%	-14.5%	-9.0%	-9.5%
Financing Activities Proceeds From Debt	31.2%	32.9%	17.6%	46.6%	32.7%
Financing Activities Repayment of Debt	-25.5%	-24.0%	-5.3%	-32.8%	-25.5%
Financing Activities Dividends Paid	-2.8%	-3.8%	-3.1%	-3.3%	-2.4%
Financing Activities Repurchase of Common Stock	-5.8%	-7.4%	-8.4%	-14.2%	-3.9%
Financing Activities Other Financing Activities	2.4%	-7.0%	-2.7%	3.1%	17.9%
Financing Activities net Cash From Financing Activities	-0.4%	-9.3%	-2.0%	-0.6%	18.8%
Cash Reconciliation net Change In Cash	-2.3%	-13.5%	20.4%	-6.1%	7.6%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 5 years

Ratio	2025	2024	2023	2022	2021
Profitability
Gross margin	—	—	—	—	—
Operating margin	+10.7%	+23.7%	+18.0%	-8.6%	-12.5%
Net margin	+5.3%	+15.4%	+10.1%	-8.9%	-10.5%
FCF margin	+7.4%	+14.4%	+25.6%	-5.9%	-10.3%
Growth
Revenue CAGR (3y)	+8.9%	+12.6%	+8.9%	+5.1%	+9.7%
Returns
ROE	+18.5%	+47.7%	+28.1%	-25.0%	-15.4%
ROA	+2.3%	+7.0%	+4.5%	-3.7%	-4.3%
ROIC	+6.9%	+16.0%	+12.2%	-6.9%	-8.6%
Liquidity
Current ratio	0.78x	0.96x	1.18x	1.08x	1.35x
Quick ratio	0.26x	0.38x	0.53x	0.25x	0.56x
Leverage
D/E	7.15x	5.78x	5.21x	5.69x	2.58x
Interest coverage	1.62x	4.53x	3.60x	-3.20x	-3.95x
Efficiency
Asset turnover	0.43x	0.46x	0.45x	0.42x	0.41x
Cash conversion cycle	—	—	—	—	—

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