VST
Vistra Corp.
Quarterly revenue, EPS, free cash flow, valuation, and Rule of 40 scores for Vistra Corp.
Vistra Corp. is an integrated retail electricity and power-generation company in the United States. It owns and operates a generation fleet including natural gas, nuclear, coal, and solar and storage assets, and sells electricity and related services to residential, commercial, and industrial customers under brands such as TXU Energy.
Coverage
FERC Didn't Kill PJM's 6.8 GW Backstop. It Moved the Price-Takers to February
FERC accepted PJM's 6,831 MW backstop on 29 September but suspended it to 28 February 2027, delaying new supply that must bid as a price-taker.
Vistra's Rule of 40 Has Printed −36 and +70 in the Same Ten Quarters.
Vistra joins the tracked set scoring 2.8, one quarter after 49.0 — for a merchant power company the score measures weather and hedge timing more than business.
Vistra Q2 2026: revenue $4.02B, GAAP EPS $0.76
Revenue fell 5.5% YoY to $4.017B; GAAP diluted EPS of $0.76 against $0.81 a year earlier. Fuel and purchased power costs dropped to $1.77B, holding gross margin near 56%.
Where the revenue goes next
Latest: $4.02B (2026Q2)
| Period | Value |
|---|---|
| 2023Q1 | $4.42B |
| 2023Q2 | $3.19B |
| 2023Q3 | $4.09B |
| 2023Q4 | $3.08B |
| 2024Q1 | $3.05B |
| 2024Q2 | $3.85B |
| 2024Q3 | $6.29B |
| 2024Q4 | $4.04B |
| 2025Q1 | $3.93B |
| 2025Q2 | $4.25B |
| 2025Q3 | $4.97B |
| 2025Q4 | $4.58B |
| 2026Q1 | $5.64B |
| 2026Q2 | $4.02B |
Latest: $0.76 (2026Q2)
| Period | Value |
|---|---|
| 2023Q1 | $1.71 |
| 2023Q2 | $1.17 |
| 2023Q3 | $1.25 |
| 2023Q4 | −$0.55 |
| 2024Q1 | −$0.24 |
| 2024Q2 | $0.90 |
| 2024Q3 | $5.25 |
| 2024Q4 | $1.14 |
| 2025Q1 | −$0.93 |
| 2025Q2 | $0.81 |
| 2025Q3 | $1.75 |
| 2025Q4 | $0.54 |
| 2026Q1 | $2.87 |
| 2026Q2 | $0.76 |
Latest: 26.8 (2026Q2)
| Period | Value |
|---|---|
| 2023Q4 | 10.8 |
| 2024Q1 | 42.7 |
| 2024Q2 | 63.2 |
| 2024Q3 | 22.1 |
| 2024Q4 | 19.6 |
| 2025Q1 | 18.5 |
| 2025Q2 | 30.9 |
| 2025Q3 | 70.7 |
| 2025Q4 | 74.3 |
| 2026Q1 | 25.2 |
| 2026Q2 | 26.8 |
Latest: $334M (2026Q2)
| Period | Value |
|---|---|
| 2023Q1 | $951M |
| 2023Q2 | $1.14B |
| 2023Q3 | $1.22B |
| 2023Q4 | $467M |
| 2024Q1 | −$153M |
| 2024Q2 | $698M |
| 2024Q3 | $1.02B |
| 2024Q4 | $923M |
| 2025Q1 | −$169M |
| 2025Q2 | −$118M |
| 2025Q3 | $1.01B |
| 2025Q4 | $596M |
| 2026Q1 | $316M |
| 2026Q2 | $334M |
Latest: 339M (2026Q2)
| Period | Value |
|---|---|
| 2018Q3 | 541M |
| 2019Q1 | 509M |
| 2019Q2 | 508M |
| 2019Q3 | 494M |
| 2020Q1 | 491M |
| 2020Q2 | 490M |
| 2020Q3 | 491M |
| 2021Q1 | 485M |
| 2021Q2 | 487M |
| 2021Q3 | 484M |
| 2022Q1 | 452M |
| 2022Q2 | 429M |
| 2022Q3 | 417M |
| 2023Q1 | 388M |
| 2023Q2 | 377M |
| 2023Q3 | 372M |
| 2024Q1 | 349M |
| 2024Q2 | 354M |
| 2024Q3 | 350M |
| 2025Q1 | 340M |
| 2025Q2 | 346M |
| 2025Q3 | 345M |
| 2026Q1 | 342M |
| 2026Q2 | 339M |
Latest: $8.23B (2026Q2)
| Period | Value |
|---|---|
| 2023Q1 | $951M |
| 2023Q2 | $2.09B |
| 2023Q3 | $3.31B |
| 2023Q4 | $3.78B |
| 2024Q1 | $3.62B |
| 2024Q2 | $4.32B |
| 2024Q3 | $5.34B |
| 2024Q4 | $6.26B |
| 2025Q1 | $6.09B |
| 2025Q2 | $5.97B |
| 2025Q3 | $6.98B |
| 2025Q4 | $7.58B |
| 2026Q1 | $7.90B |
| 2026Q2 | $8.23B |
Latest earnings
Next report: Nov 5, 2026 (Q3 2026)
Company History
The competitive generation and retail businesses of Energy Future Holdings emerge from bankruptcy as Vistra Energy in October; shares list on the NYSE in May 2017.
Merges with Dynegy, roughly doubling generation capacity and extending the integrated retail-plus-generation model beyond ERCOT into PJM, MISO and the Northeast.
February's Texas grid failure costs Vistra roughly $2B, forcing a reset of hedging and weather-risk policy across the Texas fleet.
Closes the Energy Harbor acquisition in March, adding roughly 4,000 MW of nuclear capacity in PJM plus its retail book. VST becomes one of the year's best-performing S&P 500 stocks as data-center demand reprices merchant power.
Signs a 20-year power purchase agreement with AWS for up to 1,200 MW of carbon-free power at Comanche Peak. Closes the 2,600-MW gas acquisition from Lotus Infrastructure Partners in November. Record adjusted EBITDA of $5.9B.
Signs 20-year PPAs with Meta for 2,609 MW of energy, capacity and uprates across Perry, Davis-Besse and Beaver Valley, supporting 20-year licence renewals for all four PJM nuclear units. Announces the ~$4.0B acquisition of Cogentrix Energy and its 5,496 MW gas portfolio.
Key Players
The CEO view — 2 podcasts, interviews & articles →
Similar stocks in Energy & Materials
Funds we follow holding VST
By latest reported 13F position value. Market value at quarter-end, not cost basis.
