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Vistra Corp., together with its subsidiaries, operates as an integrated retail electricity and power generation company in the United States. The company operates through five segments: Retail, Texas, East, West, and Asset Closure. The company retails electricity and natural gas to residential, commercial, and industrial customers across states in the United States and the District of Columbia. It is also involved in electricity generation, wholesale energy purchases and sales, commodity risk management, fuel procurement, and fuel logistics management activities. In addition, the company engages in decommissioning and reclamation of retired generation facilities, including mines, and battery removal and remediation activities. It serves approximately 5 million customers with a generation capacity of approximately 44,000 megawatts with a portfolio of natural gas, nuclear, coal, solar, and battery energy storage facilities. The company was formerly known as Vistra Energy Corp. and changed its name to Vistra Corp. in July 2020. Vistra Corp. was founded in 1882 and is based in Irving, Texas.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $17.7B | $5.1B | $944M | $1.3B | 36.0% | 3.0% | -64.5% |
| 2024 | $17.2B | $7.0B | $2.7B | $2.5B | 85.9% | 16.5% | 78.1% |
| 2023 | $14.8B | $4.6B | $1.5B | $3.8B | 52.7% | 7.7% | -221.7% |
| 2022 | $13.7B | $1.0B | $-1.2B | $-816M | -42.3% | - | - |
| 2021 | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 13,728 | 14,779 | 17,224 | 17,738 |
| Operating Revenue | - | 15,631 | 14,779 | 17,224 | 17,738 |
| Cost Of Revenue | - | 12,046 | 9,259 | 9,699 | 11,904 |
| Gross Profit | - | 1,682 | 5,520 | 7,525 | 5,834 |
| Operating Expense | - | 2,785 | 2,810 | 3,444 | 3,700 |
| Selling General And Administration | - | 1,189 | 1,308 | 1,601 | 1,714 |
| Total Expenses | - | 14,831 | 12,069 | 13,143 | 15,604 |
| Operating Income | - | -1,103 | 2,710 | 4,081 | 2,134 |
| Total Operating Income As Reported | - | -1,177 | 2,661 | 4,081 | 1,906 |
| EBITDA | - | 1,049 | 4,573 | 6,957 | 5,055 |
| Normalized EBITDA | - | 794 | 4,536 | 6,869 | 5,230 |
| EBIT | - | -998 | 2,617 | 4,326 | 2,105 |
| Interest Income | - | 19 | 86 | 65 | 18 |
| Interest Expense | - | 562 | 617 | 859 | 982 |
| Net Interest Income | - | -600 | -621 | -894 | -1,094 |
| Other Non Operating Income Expenses | - | -112 | -126 | 192 | 258 |
| Other Income Expense | - | 143 | -89 | 280 | 83 |
| Interest Income Non Operating | - | 19 | 86 | 65 | 18 |
| Interest Expense Non Operating | - | 562 | 617 | 859 | 982 |
| Net Non Operating Interest Income Expense | - | -600 | -621 | -894 | -1,094 |
| Pretax Income | - | -1,560 | 2,000 | 3,467 | 1,123 |
| Tax Provision | - | -350 | 508 | 655 | 179 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 57.12 | 9.40 | 16.63 | -27.82 |
| Net Income Continuous Operations | - | -1,210 | 1,492 | 2,812 | 944 |
| Net Income From Continuing And Discontinued Operation | - | -1,227 | 1,493 | 2,659 | 944 |
| Net Income From Continuing Operation Net Minority Interest | - | -1,227 | 1,493 | 2,659 | 944 |
| Net Income | - | -1,227 | 1,493 | 2,659 | 944 |
| Net Income Common Stockholders | - | -1,377 | 1,343 | 2,467 | 752 |
| Net Income Including Noncontrolling Interests | - | -1,210 | 1,492 | 2,812 | 944 |
| Normalized Income | - | -1,424.88 | 1,465.40 | 2,587.63 | 1,091.18 |
| Diluted NI Availto Com Stockholders | - | -1,377 | 1,343 | 2,467 | 752 |
| Basic Average Shares | - | 389.75 | 351.46 | 339.75 | 339.12 |
| Diluted Average Shares | - | 389.75 | 351.46 | 339.75 | 345.66 |
| Reconciled Depreciation | - | 2,047 | 1,956 | 2,631 | 2,950 |
| Reconciled Cost Of Revenue | - | 11,595 | 8,805 | 8,911 | 10,940 |
| Total Unusual Items | - | 255 | 37 | 88 | -175 |
| Total Unusual Items Excluding Goodwill | - | 255 | 37 | 88 | -175 |
| Preferred Stock Dividends | - | 150 | 150 | 192 | 192 |
| Minority Interests | - | -17 | 1 | -153 | 0 |
| Special Income Charges | - | 5 | 73 | 35 | -108 |
| Gain On Sale Of Business | 0 | 0 | - | - | - |
| Other Special Charges | - | -71 | -27 | -29 | -120 |
| Impairment Of Capital Assets | - | 74 | 49 | 0 | 228 |
| Gain On Sale Of Security | - | 250 | -36 | 53 | -67 |
| Depreciation Amortization Depletion Income Statement | - | 1,596 | 1,502 | 1,843 | 1,986 |
| Depreciation And Amortization In Income Statement | - | 1,596 | 1,502 | 1,843 | 1,986 |
| Gain On Sale Of Ppe | - | 8 | 95 | 6 | 0 |
| Total Other Finance Cost | - | 57 | 90 | 100 | 130 |
| Earnings From Equity Interest | 0 | 0 | - | - | - |
Utilities sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Vistra Corp.this co. | VST | $51.8B | 54.90↑ premium | 19.77 | 36.0% | 14.07 |
| Sempra | SRE | $59.1B | 32.15 | 1.87 | 5.8% | 17.87 |
| Dominion Energy, Inc. | D | $58.5B | 19.51 | 2.08 | 10.7% | 12.89 |
| Entergy Corporation | ETR | $50.0B | 28.22 | 2.96 | 10.5% | 12.86 |
| Xcel Energy Inc. | XEL | $48.5B | 24.06 | 2.06 |
| - |
| - |
| - |
| - |
| 8.5% |
| 13.40 |
| Exelon Corporation | EXC | $45.7B | 16.50 | 1.59 | 9.6% | 10.50 |
| Public Service Enterprise Group Incorporated | PEG | $38.9B | 18.43 | 2.29 | 12.4% | 13.14 |
| Consolidated Edison, Inc. | ED | $38.4B | 18.96 | 1.59 | 8.4% | 10.58 |
| PG&E Corporation | PCG | $37.0B | 13.70 | 1.20 | 8.7% | 9.68 |
| Peer Median | - | 19.23 | 1.96 | 9.2% | 12.87 | |