Vistra Corp.

VSTUS

Vistra Corp., along with its various holdings, functions as a unified entity primarily engaged in retail electricity supply and power generation. The company organizes its operations across six distinct segments: Retail, Texas, East, West, Sunset, and Asset Closure. It directly provides electricity and natural gas to residential, commercial, and industrial clients throughout 20 U.S. states and the District of Columbia. Beyond its retail endeavors, Vistra also participates in generating electricity, facilitating wholesale energy transactions, managing commodity-related risks, producing fuel, and overseeing fuel logistics. With approximately 4.3 million customers, Vistra commands an impressive generation capacity of about 38,700 megawatts. This capacity is sustained by a diverse portfolio of facilities, including those powered by natural gas, nuclear energy, coal, solar, and advanced battery energy storage systems. The enterprise, initially known as Vistra Energy Corp., adopted its current name, Vistra Corp., in July 2020. Tracing its origins back to 1882, Vistra Corp. maintains its corporate headquarters in Irving, Texas.

FoundedIPO year2016As of2026-08-04
Market Cap
$48.59B
Enterprise Value
$67.83B
EV / LTM Revenue
4.0x
EV / NTM Revenue
2.8x
Trading multiples

Enterprise value over trailing (LTM) vs. forward (NTM) fundamentals. Click an LTM cell to chart it.

LTM
trailing
NTM
forward
Revenue
2.8x
Gross Profit
21.8x
EBITDA
12.4x
Classification
Sector
Industrial, Aerospace & Defense
Sub-sector
Electrical Equipment & Power Systems
Listing
VST
Country
US
Historical valuation & fundamentals

EV / LTM Revenue

Annual financials & analyst forecasts

$MCY2021CY2022CY2023CY2024CY2025CY2026ECY2027E
Revenue YoY34%-13%25%-14%39%9%
Revenue$13.28B$17.84B$15.54B$19.38B$16.73B$23.25B$25.34B
Gross Profit$60M$3.13B$5.17B$7.69B$2.66B
Gross Profit Margin0.5%17.6%33.3%39.7%15.9%
EBITDA$897M$1.33B$4.62B$7.19B$4.89B$5.18B$5.64B
EBITDA Margin6.8%7.4%29.7%37.1%29.2%22.3%22.3%
EBIT($987M)$1.92B$3.91B$6.23B$976M$1.97B$2.15B
Net Income($1.27B)($1.23B)$1.49B$2.66B$944M$2.77B$3.40B
Free Cash Flow($1.24B)($816M)$3.78B$2.35B$640M
FCF Margin-9.3%-4.6%24.3%12.1%3.8%
Short-Term Debt$254M$1.11B$2.29B$1.63B$4.24B
Long-Term Debt$10.48B$11.93B$12.12B$15.42B$15.84B
Cash & Cash Equivalents$1.32B$455M$3.48B$1.19B$816M
Net Debt$9.41B$12.59B$10.92B$15.86B$19.27B
Net Debt / EBITDA10.5x9.5x2.4x2.2x3.9x
Rule of 4029.8%11.4%36.8%-9.8%
Figures in $M. True calendar years (Jan–Dec) built from quarterly data — income & cash-flow lines summed across the four quarters, balance sheet as of year-end. E columns are calendarized analyst consensus — gross profit, cash flow and balance-sheet lines are not estimated. Net debt = short-term debt + long-term debt − cash & cash equivalents; Rule of 40 = YoY revenue growth + FCF margin.