VST (Vistra Corp.) Stock Financials & Earnings | Market Cap Arena

VST (Vistra Corp.) Stock Financials & Earnings | Market Cap Arena

VSTVistra Corp.

Mkt Cap$57B

Utilities·Independent Power Producers·🇺🇸 United States·NYSE

Revenue (TTM)$17.7B

Net Income (TTM)$944M

EPS (TTM)$2.34

Free Cash Flow (TTM)$0

Gross Margin21.7%

Op. Margin10.7%

Net Margin5.3%

FCF Margin0.0%

P/S Ratio (TTM)3.2x

P/E Ratio (TTM)60.2x

YoY Rev Growth-8.5%

Employees—

Earnings Reports

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$3.8B	$1.1B	$807M
Q2 23	$3.2B	$934M	$640M
Q3 23	$5.2B	$2.3B	$1.9B
Q4 23	$3.4B	$880M	$536M
Q1 24	$2.8B	$131M	-$187M
Q2 24	$3.7B	$967M	$617M
Q3 24	$5.5B	$2.4B	$2.0B
Q4 24	$7.4B	$4.2B	$3.8B
Q1 25	$5.2B	$1.5B	$1.2B
Q2 25	$4.3B	$934M	$515M
Q3 25	$5.0B	$1.5B	$1.0B
Q4 25	$3.3B	-$112M	-$818M

Valuation

Quarter	P/S	P/E
Q1 23	3.2x	—
Q2 23	3.3x	35.6x
Q3 23	3.5x	39.7x
Q4 23	3.7x	38.1x
Q1 24	3.9x	74.9x
Q2 24	3.8x	87.7x
Q3 24	3.7x	27.9x
Q4 24	2.9x	21.4x
Q1 25	2.6x	23.4x
Q2 25	2.5x	23.8x
Q3 25	2.6x	49.3x
Q4 25	3.2x	60.2x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	$1.4B	$951M
Q2 23	$1.6B	$1.1B
Q3 23	$1.6B	$1.2B
Q4 23	$881M	$467M
Q1 24	$312M	-$284M
Q2 24	$1.2B	$698M
Q3 24	$1.7B	$1.0B
Q4 24	$1.4B	$923M
Q1 25	$599M	-$169M
Q2 25	$572M	-$118M
Q3 25	$1.5B	$1.0B
Q4 25	-$2.6B	-$722M

Capital Expenditures

CapEx

Quarter	CapEx
Q1 23	$484M
Q2 23	$442M
Q3 23	$336M
Q4 23	$414M
Q1 24	$596M
Q2 24	$498M
Q3 24	$685M
Q4 24	$430M
Q1 25	$768M
Q2 25	$690M
Q3 25	$458M
Q4 25	$1.9B

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	-5.0%	-16.3%
Q2 23	-15.3%	-27.5%
Q3 23	-10.3%	-20.5%
Q4 23	-21.4%	-39.9%
Q1 24	-25.6%	+1.1%
Q2 24	+15.6%	+20.4%
Q3 24	+6.3%	+8.2%
Q4 24	+117.0%	+24.3%
Q1 25	+85.1%	+34.4%
Q2 25	+15.2%	+21.6%
Q3 25	-10.2%	+10.8%
Q4 25	-54.6%	+17.3%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$22M	0.6%
Q2 23	$21M	0.7%
Q3 23	$20M	0.4%
Q4 23	$14M	0.4%
Q1 24	$21M	0.8%
Q2 24	$32M	0.9%
Q3 24	$23M	0.4%
Q4 24	$24M	0.3%
Q1 25	$21M	0.4%
Q2 25	$25M	0.6%
Q3 25	$36M	0.7%
Q4 25	-$82M	-2.5%

OpEx Breakdown

Quarter	SG&A
Q1 23	$287M
Q2 23	$294M
Q3 23	$335M
Q4 23	$344M
Q1 24	$318M
Q2 24	$350M
Q3 24	$386M
Q4 24	$411M
Q1 25	$373M
Q2 25	$419M
Q3 25	$444M

Revenue Segments

Quarter	Retail Segment	Sunset Segment	Texas Segment	West Segment
Q2 23	$2.4B	$314M	$191M	$224M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$518M	$0	$518M
Q2 23	$643M	$0	$643M
Q3 23	$3.2B	$0	$3.2B
Q4 23	$3.5B	$0	$3.5B
Q1 24	$1.1B	$0	$1.1B
Q2 24	$1.6B	$0	$1.6B
Q3 24	$905M	$0	$905M
Q4 24	$1.2B	$0	$1.2B
Q1 25	$561M	$0	$561M
Q2 25	$458M	$0	$458M
Q3 25	$602M	$0	$602M
Q4 25	$4.1B	$0	$4.1B

Shares Outstanding

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	388M	-0.9%
Q2 23	377M	-2.8%
Q3 23	372M	-1.2%
Q4 23	351M	-5.6%
Q1 24	349M	-0.7%
Q2 24	354M	+1.5%
Q3 24	350M	-1.2%
Q4 24	340M	-3.0%
Q1 25	340M	+0.0%
Q2 25	339M	-0.1%
Q3 25	340M	+0.1%
Q4 25	340M	+0.0%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 14	—	—
FY 15	—	—
FY 16	—	—
FY 17	$1M	4K
FY 18	$2M	5K
FY 19	$2M	5K
FY 20	$2M	5K
FY 21	$3M	5K
FY 22	$4M	5K
FY 23	$3M	5K
FY 24	$3M	7K
FY 25	$3M	6K