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 |
| 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 |
| Operating Income | - | -1,103 | 2,710 | 4,081 | 2,134 |
| EBITDA | - | 1,049 | 4,573 | 6,957 | 5,055 |
| EBIT | - | -998 | 2,617 | 4,326 | 2,105 |
| Pretax Income | - | -1,560 | 2,000 | 3,467 | 1,123 |
| Tax Provision | - | -350 | 508 | 655 | 179 |
| Net Income | - | -1,227 | 1,493 | 2,659 | 944 |
| Net Income Common Stockholders | - | -1,377 | 1,343 | 2,467 | 752 |
| Total Expenses | - | 14,831 | 12,069 | 13,143 | 15,604 |
| Interest Expense | - | 562 | 617 | 859 | 982 |
| Interest Income | - | 19 | 86 | 65 | 18 |
| Selling General And Administration | - | 1,189 | 1,308 | 1,601 | 1,714 |
| Normalized EBITDA | - | 794 | 4,536 | 6,869 | 5,230 |
| Normalized Income | - | -1,424.88 | 1,465.40 | 2,587.63 | 1,091.18 |
| Market Cap | 55,640.58 | 55,640.58 | 55,640.58 | 55,640.58 | 55,640.58 |
Utilities sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Vistra Corp.this co. | VST | $69.7B | 58.94β premium | 21.23 | 36.0% | 14.82 |
| Constellation Energy Corporation | CEG | $98.3B | 48.98 | 7.82 | 16.0% | 19.96 |
| American Electric Power Company, Inc. | AEP | $72.0B | 20.46 | 2.35 | 11.5% | 13.26 |
| Sempra | SRE | $62.3B | 33.15 | 1.93 | 5.8% | 18.21 |
| Dominion Energy, Inc. | D | $55.0B | 18.35 |
| - |
| - |
| - |
| - |
| 1.96 |
| 10.7% |
| 12.47 |
| Entergy Corporation | ETR | $50.6B | 29.34 | 3.07 | 10.5% | 13.19 |
| Exelon Corporation | EXC | $48.0B | 17.34 | 1.67 | 9.6% | 10.76 |
| Xcel Energy Inc. | XEL | $46.4B | 24.48 | 2.09 | 8.5% | 13.54 |
| Public Service Enterprise Group Incorporated | PEG | $40.4B | 19.09 | 2.37 | 12.4% | 13.43 |
| Peer Median | - | 22.47 | 2.22 | 10.6% | 13.35 | |