Vistra Corp's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Vistra Corp reported revenue of $17.7B (+3.0% year on year) and net income of $1.1B (-67.6% year on year).
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Operating revenues | $17.7B | $17.2B | $14.8B | $13.7B |
| Fuel, purchased power costs, and delivery fees | ($9.1B) | ($7.3B) | ($7.6B) | ($10.4B) |
| Operating costs | ($2.8B) | ($2.4B) | ($1.7B) | ($1.6B) |
| Depreciation and amortization | ($2.0B) | ($1.8B) | ($1.5B) | ($1.6B) |
| Selling, general, and administrative expenses | ($1.7B) | ($1.6B) | ($1.3B) | ($1.2B) |
| Impairment of long-lived assets | ($228.0M) | $0 | ($49.0M) | ($74.0M) |
| Operating income | $1.9B | $4.1B | $2.7B | ($1.2B) |
| Other income, net | $394.0M | $312.0M | $257.0M | $117.0M |
| Interest expense and related charges | ($1.2B) | ($900.0M) | ($740.0M) | ($368.0M) |
| Impacts of Tax Receivable Agreement | $2.0M | ($5.0M) | ($164.0M) | ($128.0M) |
| Net income before income taxes | $1.1B | $3.5B | $2.0B | ($1.6B) |
| Income tax expense | ($179.0M) | ($655.0M) | ($508.0M) | $350.0M |
| Net income | $944.0M | $2.8B | $1.5B | ($1.2B) |
| Net (income) loss attributable to noncontrolling interest and redeemable noncontrolling interest | $0 | ($153.0M) | $1.0M | ($17.0M) |
| Net income attributable to Vistra | $944.0M | $2.7B | $1.5B | ($1.2B) |
| Cumulative dividends attributable to preferred stock | ($192.0M) | ($192.0M) | ($150.0M) | ($150.0M) |
| Net income attributable to Vistra common stock | $752.0M | $2.5B | $1.3B | ($1.4B) |
| Basic (in shares) | 339.1M | 344.8M | 369.8M | 422.4M |
| Diluted (in shares) | 345.7M | 352.6M | 375.2M | 422.4M |
| Basic (in dollars per share) | $2.22 | $7.16 | $3.63 | -$3.26 |
| Diluted (in dollars per share) | $2.18 | $7.00 | $3.58 | -$3.26 |
| Line item | Jun 30, 2026 · Q2 | Mar 31, 2026 · Q1 | Sep 30, 2025 · Q3 | Jun 30, 2025 · Q2 |
|---|---|---|---|---|
| Operating revenues | $4.0B | $5.6B | $5.0B | $4.3B |
| Fuel, purchased power costs, and delivery fees | ($1.8B) | ($2.5B) | ($2.4B) | ($2.0B) |
| Operating costs | ($853.0M) | ($700.0M) | ($655.0M) | ($733.0M) |
| Depreciation and amortization | ($445.0M) | ($484.0M) | ($460.0M) | ($541.0M) |
| Selling, general, and administrative expenses | ($392.0M) | ($427.0M) | ($444.0M) | ($419.0M) |
| Impairment of long-lived assets | $0 | — | ($5.0M) | ($68.0M) |
| Operating income | $553.0M | $1.5B | $1.0B | $515.0M |
| Other income (deductions), net | $186.0M | — | — | $191.0M |
| Interest expense and related charges | ($312.0M) | ($263.0M) | ($286.0M) | ($303.0M) |
| Net income (loss) before income taxes | $427.0M | $1.2B | — | $403.0M |
| Income tax (expense) benefit | ($122.0M) | ($183.0M) | ($204.0M) | ($76.0M) |
| Net income attributable to Vistra | $305.0M | $1.0B | $652.0M | $327.0M |
| Cumulative dividends attributable to preferred stock | ($47.0M) | ($49.0M) | ($48.0M) | ($47.0M) |
| Net income (loss) attributable to Vistra common stock | $258.0M | $980.0M | $604.0M | $280.0M |
| Basic (in shares) | 336.8M | 337.8M | 338.7M | 339.4M |
| Diluted (in shares) | 339.2M | 341.9M | 345.0M | 345.5M |
| Basic (in dollars per share) | $0.77 | $2.90 | $1.78 | $0.82 |
| Diluted (in dollars per share) | $0.76 | $2.87 | $1.75 | $0.81 |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Cash and cash equivalents | $785.0M | $1.2B | $3.5B | $455.0M |
| Restricted cash | $31.0M | $28.0M | — | $37.0M |
| Trade accounts receivable — net | $2.3B | $2.0B | $1.7B | $2.1B |
| Inventories — net | $1.0B | $970.0M | $740.0M | $570.0M |
| Commodity and other derivative contractual assets | $2.8B | $2.6B | $3.6B | $4.5B |
| Margin deposits related to commodity contracts | $1.1B | $406.0M | $1.2B | $3.1B |
| Margin deposits posted under affiliate financing agreement | $444.0M | $435.0M | $439.0M | — |
| Prepaid expense and other current assets | $654.0M | $515.0M | $364.0M | $293.0M |
| Total current assets | $9.2B | $8.1B | $11.6B | $11.1B |
| Restricted cash | $6.0M | $6.0M | — | $33.0M |
| Investments | $5.1B | $4.5B | $2.0B | $1.7B |
| Property, plant, and equipment — net | $19.8B | $18.2B | $12.4B | $12.6B |
| Goodwill | $2.8B | $2.8B | $2.6B | $2.6B |
| Identifiable intangible assets — net | $2.4B | $2.2B | $1.9B | $2.0B |
| Commodity and other derivative contractual assets | $405.0M | $740.0M | $577.0M | $702.0M |
| Accumulated deferred income taxes | $239.0M | $9.0M | $1.2B | $1.7B |
| Other noncurrent assets | $1.5B | $1.2B | $551.0M | $351.0M |
| Total assets | $41.5B | $37.8B | $33.0B | $32.8B |
| Short-term borrowings | $1.8B | — | $0 | $650.0M |
| Accounts receivable financing | $1.2B | $750.0M | $0 | $425.0M |
| Long-term debt due currently | $1.2B | $880.0M | $2.3B | $38.0M |
| Forward repurchase obligation due currently | $632.0M | $703.0M | — | — |
| Trade accounts payable | $1.6B | $1.5B | $1.1B | $1.6B |
| Commodity and other derivative contractual liabilities | $4.0B | $3.4B | $5.3B | $6.6B |
| Margin deposits related to commodity contracts | $7.0M | $49.0M | $45.0M | $39.0M |
| Accrued taxes other than income | $224.0M | $209.0M | $203.0M | $199.0M |
| Accrued interest | $188.0M | $193.0M | $206.0M | $160.0M |
| Asset retirement obligations | $181.0M | $142.0M | $124.0M | $128.0M |
| Other current liabilities | $663.0M | $645.0M | $547.0M | $524.0M |
| Total current liabilities | $11.8B | $8.4B | $9.8B | $10.3B |
| Margin deposits financing with affiliate | $444.0M | $435.0M | $439.0M | — |
| Long-term debt, less amounts due currently | $15.8B | $15.4B | $12.1B | $11.9B |
| Forward repurchase obligation, less amounts due currently | $0 | $632.0M | — | — |
| Commodity and other derivative contractual liabilities | $1.7B | $1.4B | $1.7B | $1.7B |
| Accumulated deferred income taxes | $1.0B | $697.0M | $1.0M | $1.0M |
| Asset retirement obligations | $4.0B | $3.9B | $2.4B | $2.3B |
| Other noncurrent liabilities and deferred credits | $1.5B | $1.3B | $951.0M | $1.0B |
| Total liabilities | $36.4B | $32.2B | $27.6B | $27.9B |
| Preferred stock (100,000,000 shares authorized, $1,000 liquidation preference per share, 2,476,066 shares outstanding at both December 31, 2025 and 2024, respectively) | $2476000000.00 | $2476000000.00 | $2476000000.00 | $2000000000.00 |
| Common stock (par value $0.01 per share, 1,800,000,000 shares authorized, 338,059,635 and 339,754,307 shares outstanding at December 31, 2025 and 2024, respectively) | $5000000.00 | $5000000.00 | $5000000.00 | $5000000.00 |
| Treasury stock, at cost (215,599,525 and 208,998,299 shares at December 31, 2025 and 2024, respectively) | -6.9B | -5.9B | -4.7B | -3.4B |
| Additional paid-in-capital | $9.5B | $9.4B | $10.1B | $9.9B |
| Accumulated deficit | ($12.0M) | ($454.0M) | ($2.6B) | ($3.6B) |
| Accumulated other comprehensive income | $17.0M | $20.0M | $6.0M | $7.0M |
| Stockholders' equity | $5.1B | $5.6B | $5.3B | $4.9B |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Sep 30, 2025 | Jun 30, 2025 |
|---|---|---|---|---|
| Cash and cash equivalents | $435.0M | $634.0M | $602.0M | $458.0M |
| Restricted cash | $41.0M | $37.0M | $30.0M | $31.0M |
| Trade accounts receivable — net | $2.3B | $2.0B | $2.3B | $2.2B |
| Inventories — net | $1.0B | $1.0B | $970.0M | $965.0M |
| Commodity and other derivative contractual assets | $3.7B | $3.2B | $2.6B | $3.0B |
| Margin deposits related to commodity contracts | $1.4B | $1.1B | $721.0M | $728.0M |
| Margin deposits posted under affiliate financing agreement | $438.0M | $446.0M | $450.0M | $445.0M |
| Assets held for sale | $97.0M | — | — | — |
| Prepaid expense and other current assets | $832.0M | $629.0M | $647.0M | $678.0M |
| Total current assets | $10.3B | $9.0B | $8.4B | $8.5B |
| Restricted cash | $5.0M | $6.0M | $6.0M | $6.0M |
| Investments | $5.3B | $5.0B | $5.0B | $4.8B |
| Property, plant, and equipment — net | $19.9B | $19.9B | $17.7B | $17.7B |
| Goodwill | $2.8B | $2.8B | $2.8B | $2.8B |
| Identifiable intangible assets — net | $2.3B | $2.4B | $2.1B | $2.3B |
| Commodity and other derivative contractual assets | $334.0M | $412.0M | $604.0M | $593.0M |
| Accumulated deferred income taxes | $213.0M | $239.0M | $9.0M | $9.0M |
| Other noncurrent assets | $1.4B | $1.6B | $1.4B | $1.5B |
| Total assets | $42.6B | $41.3B | $38.0B | $38.1B |
| Short-term borrowings | $0 | $0 | — | $861.0M |
| Accounts receivable financing | $300.0M | $750.0M | $1.2B | $1.1B |
| Long-term debt due currently | $1.9B | $1.9B | $231.0M | $230.0M |
| Forward repurchase obligation due currently | $613.0M | $641.0M | $701.0M | $682.0M |
| Trade accounts payable | $1.5B | $1.4B | $1.4B | $1.3B |
| Commodity and other derivative contractual liabilities | $4.9B | $4.2B | $3.6B | $4.1B |
| Margin deposits related to commodity contracts | $122.0M | $11.0M | $3.0M | $3.0M |
| Accrued income taxes | $3.0M | — | — | — |
| Accrued taxes other than income | $125.0M | $114.0M | $180.0M | $143.0M |
| Accrued interest | $249.0M | $287.0M | $225.0M | $188.0M |
| Asset retirement obligations | $197.0M | $185.0M | $202.0M | $146.0M |
| Liabilities held for sale | $13.0M | — | — | — |
| Other current liabilities | $662.0M | $604.0M | $687.0M | $694.0M |
| Total current liabilities | $10.6B | $10.1B | $8.4B | $9.4B |
| Margin deposits financing with affiliate | $438.0M | $446.0M | $450.0M | $445.0M |
| Long-term debt, less amounts due currently | $17.7B | $17.3B | $15.8B | $15.5B |
| Commodity and other derivative contractual liabilities | $1.5B | $1.3B | $1.4B | $1.4B |
| Accumulated deferred income taxes | $1.3B | $1.2B | $765.0M | $569.0M |
| Asset retirement obligations | $4.1B | $4.0B | $3.9B | $4.0B |
| Other noncurrent liabilities and deferred credits | $1.6B | $1.4B | $1.5B | $1.3B |
| Total liabilities | $37.1B | $35.7B | $32.8B | $33.3B |
| Preferred stock (100,000,000 shares authorized, $1,000 liquidation preference per share, 2,476,066 shares outstanding at both June 30, 2026 and December 31, 2025, respectively) | $2476000000.00 | $2476000000.00 | $2476000000.00 | $2476000000.00 |
| Common stock (par value $0.01 per share, 1,800,000,000 shares authorized, 335,961,328 and 338,059,635 shares outstanding at June 30, 2026 and December 31, 2025, respectively) | $5000000.00 | $5000000.00 | $5000000.00 | $5000000.00 |
| Treasury stock, at cost (220,121,017 and 215,599,525 shares at June 30, 2026 and December 31, 2025, respectively) | -7.6B | -7.3B | -6.7B | -6.5B |
| Additional paid-in-capital | $9.5B | $9.5B | $9.5B | $9.4B |
| Retained earnings (accumulated deficit) | $1.1B | $903.0M | ($107.0M) | ($642.0M) |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Total reportable segment net income (loss) | $944.0M | $2.8B | $1.5B | ($1.2B) |
| Depreciation and amortization | $3.0B | $2.6B | $2.0B | $2.0B |
| Deferred income tax expense (benefit), net | $136.0M | $607.0M | $457.0M | ($359.0M) |
| Gain on sale of land | $0 | $0 | ($95.0M) | — |
| Impairment of long-lived and other assets | $228.0M | $0 | $49.0M | $74.0M |
| Unrealized net (gain) loss from mark-to-market valuations of commodities | $808.0M | ($1.2B) | ($490.0M) | $2.5B |
| Unrealized net (gain) loss from mark-to-market valuations of interest rate swaps | $67.0M | ($53.0M) | $36.0M | ($250.0M) |
| Unrealized net gain from nuclear decommissioning trusts | ($138.0M) | ($116.0M) | — | — |
| Change in asset retirement obligation liability | ($20.0M) | $38.0M | $27.0M | $13.0M |
| Asset retirement obligation accretion expense | $134.0M | $114.0M | $34.0M | $34.0M |
| Impacts of Tax Receivable Agreement | ($2.0M) | $5.0M | $164.0M | $128.0M |
| Gain on TRA repurchase and tender offers | $0 | ($10.0M) | — | — |
| Bad debt expense | $201.0M | $183.0M | $164.0M | $179.0M |
| Stock-based compensation expense | $113.0M | $100.0M | $77.0M | $63.0M |
| Involuntary conversion gain | ($120.0M) | — | — | — |
| Other, net | ($47.0M) | ($89.0M) | $103.0M | ($79.0M) |
| Accounts receivable — trade | ($528.0M) | ($242.0M) | $214.0M | ($852.0M) |
| Inventories | ($3.0M) | ($31.0M) | ($174.0M) | $36.0M |
| Accounts payable — trade | $16.0M | $19.0M | ($350.0M) | $94.0M |
| Commodity and other derivative contractual assets and liabilities | ($102.0M) | ($175.0M) | $82.0M | ($228.0M) |
| Margin deposits, net | ($769.0M) | $842.0M | $1.9B | ($1.9B) |
| Accrued interest | ($4.0M) | ($18.0M) | $46.0M | $16.0M |
| Accrued taxes | $27.0M | ($1.0M) | $5.0M | ($8.0M) |
| Accrued employee incentive | ($40.0M) | $8.0M | $58.0M | $21.0M |
| Asset retirement obligation settlement | ($96.0M) | ($88.0M) | ($81.0M) | ($87.0M) |
| Major plant outage deferral | $7.0M | ($91.0M) | ($32.0M) | $20.0M |
| Other — net assets | $88.0M | ($616.0M) | $84.0M | ($17.0M) |
| Other — net liabilities | $220.0M | ($111.0M) | ($243.0M) | ($329.0M) |
| Cash provided by operating activities | $4.1B | $4.6B | $5.5B | $485.0M |
| Capital expenditures, including nuclear fuel purchases and LTSA prepayments | ($2.8B) | ($2.1B) | ($1.7B) | ($1.3B) |
| Acquisition (net of cash acquired) | ($1.1B) | ($3.1B) | — | — |
| Proceeds from sales of nuclear decommissioning trust fund securities | $5.2B | $2.2B | $601.0M | $670.0M |
| Investments in nuclear decommissioning trust fund securities | ($5.2B) | ($2.2B) | ($624.0M) | ($693.0M) |
| Proceeds from sales of environmental allowances | $275.0M | $773.0M | $500.0M | $1.3B |
| Purchases of environmental allowances | ($1.2B) | ($1.2B) | ($1.1B) | ($1.3B) |
| Insurance proceeds for recovery of damaged property, plant, and equipment | ($325.0M) | — | $15.0M | $39.0M |
| Proceeds from sales of property, plant, and equipment, including nuclear fuel | $119.0M | $196.0M | $115.0M | $21.0M |
| Proceeds from sales of transferable ITCs | $0 | $150.0M | — | — |
| Other, net | ($10.0M) | ($3.0M) | ($5.0M) | ($4.0M) |
| Cash used in investing activities | ($4.4B) | ($5.3B) | ($2.1B) | ($1.2B) |
| Issuances of debt | $2.5B | $3.8B | — | — |
| Repayments/repurchases of debt | ($2.6B) | ($2.3B) | ($33.0M) | ($251.0M) |
| Net borrowings (repayments) under accounts receivable financing | $475.0M | $750.0M | ($425.0M) | — |
| Borrowings under Revolving Credit Facility | $530.0M | $50.0M | $100.0M | $1.8B |
| Repayments under Revolving Credit Facility | ($150.0M) | ($50.0M) | ($350.0M) | ($1.5B) |
| Line item | Jun 30, 2026 · YTD | Mar 31, 2026 · Q1 | Sep 30, 2025 · YTD | Jun 30, 2025 · YTD |
|---|---|---|---|---|
| Net income | $1.3B | $1.0B | $711.0M | $59.0M |
| Depreciation and amortization | $1.4B | $718.0M | $2.2B | $1.5B |
| Deferred income tax expense (benefit), net | $255.0M | $159.0M | $68.0M | ($128.0M) |
| Impairment of long-lived and other assets | $0 | — | $73.0M | $68.0M |
| Unrealized net (gain) loss from mark-to-market valuations of commodities | ($251.0M) | ($723.0M) | $367.0M | $551.0M |
| Unrealized net (gain) loss from mark-to-market valuations of interest rate swaps | ($7.0M) | ($16.0M) | $84.0M | $74.0M |
| Unrealized net (gain) loss from nuclear decommissioning trusts | $22.0M | $111.0M | ($164.0M) | ($74.0M) |
| Asset retirement obligation accretion expense | $63.0M | $29.0M | $100.0M | $66.0M |
| Bad debt expense | $86.0M | $42.0M | $152.0M | $87.0M |
| Stock-based compensation expense | $67.0M | $32.0M | $82.0M | $46.0M |
| Involuntary conversion gain | ($48.0M) | — | ($80.0M) | ($80.0M) |
| Other, net | $0 | ($12.0M) | $36.0M | $13.0M |
| Margin deposits, net | ($188.0M) | $67.0M | ($361.0M) | ($368.0M) |
| Accrued interest | $61.0M | $99.0M | $32.0M | ($5.0M) |
| Accrued taxes other than income | ($100.0M) | ($110.0M) | ($19.0M) | ($56.0M) |
| Accrued employee incentive | ($99.0M) | ($135.0M) | ($106.0M) | ($145.0M) |
| Other operating assets and liabilities | ($336.0M) | ($91.0M) | ($562.0M) | ($471.0M) |
| Cash provided by operating activities | $2.2B | $1.2B | $2.6B | $1.2B |
| Capital expenditures, including nuclear fuel purchases and LTSA prepayments | ($1.6B) | ($883.0M) | ($1.9B) | ($1.5B) |
| Lotus acquisition purchase price adjustment | $6.0M | $6.0M | $0 | $0 |
| Proceeds from sales of nuclear decommissioning trust fund securities | $3.0B | $1.8B | $4.1B | $3.0B |
| Investments in nuclear decommissioning trust fund securities | ($3.0B) | ($1.8B) | ($4.1B) | ($3.0B) |
| Proceeds from sales of environmental allowances | $128.0M | $121.0M | $57.0M | $25.0M |
| Purchases of environmental allowances | ($201.0M) | ($160.0M) | ($511.0M) | ($392.0M) |
| Insurance proceeds for recovery of damaged property, plant, and equipment | $234.0M | $186.0M | $198.0M | $173.0M |
| Proceeds from sales of property, plant, and equipment, including nuclear fuel | $50.0M | $28.0M | $21.0M | $0 |
| Other, net | $77.0M | $65.0M | $7.0M | ($8.0M) |
| Cash used in investing activities | ($1.3B) | ($638.0M) | ($2.2B) | ($1.7B) |
| Issuances of debt | $6.4B | $2.3B | $424.0M | $209.0M |
| Repayments/repurchases of debt | ($3.9B) | ($115.0M) | ($764.0M) | ($757.0M) |
| Net borrowings (repayments) under accounts receivable financing | ($925.0M) | ($475.0M) | $475.0M | $375.0M |
| Borrowings under Revolving Credit Facility | $400.0M | $150.0M | $150.0M | — |
| Repayments under Revolving Credit Facility | ($780.0M) | ($530.0M) | ($150.0M) | — |
| Borrowings under Commodity-Linked Facility | $0 | — | $987.0M | $987.0M |
| Repayments under Commodity-Linked Facility | ($1.4B) | ($1.4B) | ($987.0M) | ($126.0M) |
| Debt issuance costs | ($72.0M) | ($26.0M) | ($2.0M) | $0 |
| Stock repurchases | ($709.0M) | ($372.0M) | ($776.0M) | ($589.0M) |
| Dividends paid to common stockholders | ($154.0M) | ($77.0M) | ($229.0M) | ($152.0M) |
| Dividends paid to preferred stockholders | ($96.0M) | ($21.0M) | ($117.0M) | ($96.0M) |
| Tax withholding on stock-based compensation | ($69.0M) | ($69.0M) | ($51.0M) | ($50.0M) |
| Principal payment on forward repurchase obligation | ($19.0M) | — | ($41.0M) | ($41.0M) |
| Other, net | ($3.0M) | ($1.0M) | $21.0M | $13.0M |
| Cash used in financing activities | ($1.3B) | ($706.0M) | ($1.1B) | ($227.0M) |
| Net change in cash, cash equivalents and restricted cash (current and noncurrent) | ($341.0M) | ($145.0M) | ($584.0M) | ($727.0M) |
| Cash, cash equivalents and restricted cash (current and noncurrent) — beginning balance | $822.0M | $822.0M | $1.2B | $1.2B |
Vistra Corp score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.