financial statements

The full income statement, balance sheet, and cash-flow statement for Vistra Corp. (VST), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

See the live VST chart & snapshot →

PeriodRangeOrderChangeYoYQoQAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Revenue	17.6B YoY+19.1%	14.8B YoY+6.9%	13.8B YoY-11.7%	15.6B YoY-11.7%	17.7B YoY+63.1%
Selling, general & administrative	1.71B YoY+7.1%	1.60B YoY+22.4%	1.31B YoY+10.0%	1.19B YoY+14.3%	1.04B YoY+0.5%
Provision for credit losses	201M YoY+9.8%	183M YoY+11.6%	164M YoY-8.4%	179M YoY+62.7%	110M YoY+0.0%
Operating income	1.91B YoY-53.3%	4.08B YoY+53.4%	2.66B YoY+326.1%	-1.18B YoY+22.3%	-1.51B YoY-199.7%
Interest expense	1.18B YoY+31.0%	900M YoY+21.6%	740M YoY+101.1%	368M YoY-4.2%	384M YoY-39.0%
Equity-method income	—	—	—	0.00	0.00 YoY-100.0%
Pre-tax income	1.12B YoY-67.6%	3.47B YoY+73.4%	2.00B YoY+228.2%	-1.56B YoY+9.4%	-1.72B YoY-293.5%
Income tax	179M YoY-72.7%	655M YoY+28.9%	508M YoY+245.1%	-350M YoY+23.6%	-458M YoY-272.2%
	944M YoY-64.5%	2.66B YoY+78.1%	1.49B YoY+221.7%	-1.23B YoY+3.7%	-1.27B YoY-300.3%
Net income to non-controlling interest	0.00 YoY-100.0%	153M YoY+15400.0%	-1.00M YoY-105.9%	17.0M YoY+70.0%	10.0M YoY+183.3%
Preferred dividends	192M YoY+0.0%	192M YoY+28.0%	150M YoY-0.7%	151M	—
Net income to common	752M YoY-69.5%	2.47B YoY+83.7%	1.34B YoY+197.5%	-1.38B YoY-6.3%	-1.29B YoY-303.6%
	$2.18 YoY-68.9%	$7.00 YoY+95.5%	$3.58 YoY+209.8%	-$3.26 YoY-21.2%	-$2.69 YoY-306.9%
EPS (basic)	$2.22 YoY-69.0%	$7.16 YoY+97.2%	$3.63 YoY+211.3%	-$3.26 YoY-21.2%	-$2.69 YoY-306.9%
Weighted-avg shares (basic)	339M YoY-1.6%	345M YoY-6.8%	370M YoY-12.5%	422M YoY-12.4%	482M YoY-1.3%
Weighted-avg shares (diluted)	346M YoY-2.0%	353M YoY-6.0%	375M YoY-11.2%	422M YoY-12.4%	482M YoY-1.8%
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	9.18B YoY+13.1%	8.12B YoY-30.2%	11.6B YoY+4.7%	11.1B YoY+41.0%	7.88B YoY+129.9%
Cash & equivalents	785M YoY-33.9%	1.19B YoY-65.9%	3.48B YoY+665.9%	455M YoY-65.7%	1.32B YoY+226.4%
Accounts receivable	2.32B YoY+17.2%	1.98B YoY+18.4%	1.67B YoY-18.7%	2.06B YoY+47.4%	1.40B YoY+9.2%
Inventory	970M YoY+0.0%	970M YoY+31.1%	740M YoY+29.8%	570M YoY-6.6%	610M YoY+18.4%
Prepaid expenses	654M YoY+25.0%	523M YoY+43.7%	364M YoY+24.2%	293M YoY+50.3%	195M YoY-4.9%
Other current assets	72.0M YoY+0.0%	72.0M YoY+0.0%	72.0M YoY+0.0%	72.0M YoY+0.0%	72.0M YoY+0.0%
	41.5B YoY+10.0%	37.8B YoY+14.6%	33.0B YoY+0.5%	32.8B YoY+10.5%	29.7B YoY+17.8%
Property, plant & equipment	19.8B YoY+9.2%	18.2B YoY+46.2%	12.4B YoY-1.0%	12.6B YoY-3.8%	13.1B YoY-3.3%
Operating lease right-of-use	98.0M YoY-7.5%	106M YoY+112.0%	50.0M YoY-2.0%	51.0M YoY+27.5%	40.0M YoY-11.1%
Goodwill	2.81B YoY+0.1%	2.81B YoY+8.7%	2.58B YoY+0.0%	2.58B YoY+0.0%	2.58B YoY+0.0%
Intangible assets	2.44B YoY+10.0%	2.21B YoY+18.7%	1.86B YoY-4.8%	1.96B YoY-8.8%	2.15B YoY-12.3%
Long-term investments	5.01B YoY+11.0%	4.51B YoY+121.7%	2.04B YoY+17.7%	1.73B YoY-15.6%	2.05B YoY+16.5%
Deferred tax assets	239M YoY+2555.6%	9.00M YoY-99.3%	1.22B YoY-28.5%	1.71B YoY+31.3%	1.30B YoY+55.4%
Other non-current assets	1.54B YoY+29.2%	1.19B YoY+98.2%	601M YoY+71.2%	351M YoY-2.8%	361M YoY+8.7%
	11.8B YoY+40.1%	8.43B YoY-14.2%	9.82B YoY-5.0%	10.3B YoY+76.9%	5.84B YoY+92.5%
Accounts payable	1.64B YoY+8.9%	1.51B YoY+31.6%	1.15B YoY-26.3%	1.56B YoY+2.7%	1.51B YoY+72.2%
Short-term & current debt	1.80B	0.00	0.00 YoY-100.0%	650M	0.00
Current lease liability	13.0M YoY+0.0%	13.0M YoY+85.7%	7.00M YoY-12.5%	8.00M YoY+60.0%	5.00M YoY-37.5%
Other current liabilities	663M YoY+2.8%	645M YoY+16.4%	554M YoY+5.7%	524M YoY-5.2%	553M YoY+17.4%
	36.4B YoY+13.2%	32.2B YoY+16.4%	27.6B YoY-0.8%	27.9B YoY+30.3%	21.4B YoY+27.0%
Long-term debt	17.0B YoY+4.6%	16.3B YoY+13.2%	14.4B	—	—
Non-current lease liability	92.0M YoY-6.1%	98.0M YoY+104.2%	48.0M YoY+6.7%	45.0M YoY+18.4%	38.0M YoY-5.0%
Deferred tax liabilities	1.05B YoY+50.5%	697M YoY+69600.0%	1.00M YoY+0.0%	1.00M	0.00 YoY-100.0%
Other non-current liabilities	1.53B YoY+20.2%	1.27B YoY+27.1%	999M YoY-0.5%	1.00B YoY-32.6%	1.49B YoY+31.7%
	5.10B YoY-8.5%	5.57B YoY+5.0%	5.31B YoY+8.3%	4.90B YoY-40.9%	8.29B YoY-1.0%
Preferred stock	2.48B YoY+0.0%	2.48B YoY+0.0%	2.48B YoY+23.8%	2.00B YoY+0.0%	2.00B
Common stock	5.00M YoY+0.0%	5.00M YoY+0.0%	5.00M YoY+0.0%	5.00M YoY+0.0%	5.00M YoY+0.0%
Additional paid-in capital	9.54B YoY+1.1%	9.44B YoY-6.5%	10.1B YoY+1.7%	9.93B YoY+1.1%	9.82B YoY+0.4%
Retained earnings	-12.0M YoY+97.4%	-454M YoY+82.6%	-2.61B YoY+28.3%	-3.64B YoY-85.5%	-1.96B YoY-392.2%
Treasury stock	6.92B YoY+17.1%	5.91B YoY+26.8%	4.66B YoY+37.3%	3.40B YoY+117.9%	1.56B YoY+60.1%
Accumulated other comprehensive income	17.0M YoY-15.0%	20.0M YoY+233.3%	6.00M YoY-14.3%	7.00M YoY+143.8%	-16.0M YoY+66.7%
Non-controlling interest	13.0M YoY+0.0%	13.0M YoY-13.3%	15.0M YoY-6.3%	16.0M YoY+1500.0%	1.00M YoY+110.0%
Total equity incl. non-controlling	5.11B YoY-8.5%	5.58B YoY+4.9%	5.32B YoY+8.2%	4.92B YoY-40.7%	8.29B YoY-0.8%
Total liabilities & equity	41.5B YoY+10.0%	37.8B YoY+14.6%	33.0B YoY+0.5%	32.8B YoY+10.5%	29.7B YoY+17.8%
Common shares issued	530M YoY+0.0%	530M YoY+0.0%	530M YoY+0.0%	530M YoY+0.0%	530M YoY+0.0%
Common shares outstanding	338M YoY-0.5%	340M YoY-3.3%	351M YoY-9.8%	390M YoY-16.9%	469M YoY-4.1%
Shares outstanding (cover)	339M YoY-0.4%	340M YoY-4.8%	358M YoY-10.2%	398M YoY-17.5%	483M YoY-1.3%
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	4.07B YoY-10.8%	4.56B YoY-16.3%	5.45B YoY+1024.3%	485M YoY+335.4%	-206M YoY-106.2%
Depreciation & amortization	1.99B YoY+7.8%	1.84B YoY+22.7%	1.50B YoY-5.9%	1.60B YoY-9.0%	1.75B YoY+0.9%
Share-based compensation	113M YoY+13.0%	100M YoY+29.9%	77.0M YoY+22.2%	63.0M YoY+34.0%	47.0M YoY-27.7%
Deferred income taxes	136M YoY-77.6%	607M YoY+32.8%	457M YoY+227.3%	-359M YoY+24.4%	-475M YoY-306.5%
Change in receivables	528M YoY+118.2%	242M YoY+213.1%	-214M YoY-125.1%	852M YoY+273.7%	228M YoY+590.9%
Change in inventory	3.00M YoY-90.3%	31.0M YoY-82.2%	174M YoY+583.3%	-36.0M YoY-136.0%	100M YoY+69.5%
Change in payables	16.0M YoY-15.8%	19.0M YoY+105.4%	-350M YoY-472.3%	94.0M YoY-76.6%	402M YoY+1105.0%
	-4.40B YoY+16.7%	-5.28B YoY-146.0%	-2.15B YoY-73.1%	-1.24B YoY-7.5%	-1.15B YoY+26.7%
Capital expenditure	2.75B YoY+32.4%	2.08B YoY+24.0%	1.68B YoY+28.8%	1.30B YoY+25.9%	1.03B YoY-18.0%
Acquisitions	—	3.06B	0.00	0.00	0.00
Other investing activities	10.0M YoY+66.7%	6.00M YoY+20.0%	5.00M YoY+114.3%	-35.0M YoY-975.0%	4.00M YoY-63.6%
	-74.0M YoY+95.4%	-1.60B YoY-445.6%	-294M YoY-267.5%	-80.0M YoY-103.5%	2.27B YoY+226.6%
Long-term debt issued	—	—	2.50B YoY+66.8%	1.50B YoY+19.8%	1.25B
Long-term debt repaid	2.58B YoY+13.0%	2.29B YoY+6830.3%	33.0M YoY-86.9%	251M	—
Common stock repurchased	1.03B YoY-18.8%	1.27B YoY+1.7%	1.25B YoY-36.1%	1.95B YoY+313.8%	471M
Dividends paid	306M YoY+0.3%	305M YoY-2.6%	313M YoY+3.6%	302M YoY+4.1%	290M YoY+9.0%
Other financing activities	-19.0M YoY-35.7%	-14.0M YoY-116.9%	83.0M YoY+167.7%	31.0M YoY+247.6%	-21.0M YoY-320.0%
Net change in cash	-400M YoY+82.7%	-2.32B YoY-176.9%	3.01B YoY+461.4%	-834M YoY-191.1%	915M
Interest paid	1.17B YoY+18.0%	987M YoY+55.2%	636M YoY+9.5%	581M YoY+20.5%	482M YoY+0.0%
Income taxes paid	97.0M YoY+76.4%	55.0M YoY+77.4%	31.0M	—	-50.0M YoY+64.3%
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Market cap	54.7B YoY+16.5%	46.9B YoY+240.6%	13.8B YoY+49.2%	9.23B YoY-16.0%	11.0B YoY+14.3%
P/E	57.9× YoY+228.2%	17.6× YoY+78.4%	9.9×	—	—
P/S	3.1× YoY-2.2%	3.2× YoY+235.1%	0.9× YoY+44.9%	0.7× YoY+5.4%	0.6× YoY-29.9%
P/B	10.7× YoY+27.3%	8.4× YoY+227.5%	2.6× YoY+48.6%	1.7× YoY+30.6%	1.3× YoY+15.4%
P/FCF	41.5× YoY+119.7%	18.9× YoY+341.4%	4.3×	—	—
Earnings yield	1.7% YoY-69.5%	5.7% YoY-44.0%	10.1%	—	—
FCF yield	2.4% YoY-54.5%	5.3% YoY-77.3%	23.4%	—	—
Source filing	10-K	10-K	10-K	10-K	10-K

About this data

Source: VST's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all VST filings on SEC EDGAR → Not investment advice.

VST▼ financial statements

About this data

financial statements