Fundamentals · 2026-09-09S&P 500ANNUAL BASIS

Vistra Corp.

VST stock analysis · Utilities · Electric Utilities

FY 2025-12-31ANNUAL FILINGS
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These are research estimates based on annual filings. Valuation uses a cash-flow proxy and explicit assumptions; prices are not live. Published valuations use annual periods first filed by the price date, with later restatements retained.
Reference share price · USD
$158.63HISTORICAL SNAPSHOT

As of · fund-implied per-share value

Fund holding value ÷ shares held. Not a live quote; not adjusted for later stock splits.

View SEC fund filing ↗
Estimated issuer market cap
$53.3B

Price × SEC outstanding shares. Shares measured 2026-06-30. Approximate; share and price dates can differ.

View share-count filing ↗
Valuation

DCF value

$59.59

Equity cash-flow scenario · SEC outstanding shares at 2026-06-30 · -62.4% versus input cap

How this is calculated ↗
Valuation

Reverse DCF

30.3%

Annual basis · read assumptions below

How this is calculated ↗
Valuation

Relative valuation

-67.2%

14 industry peers · median 23.2×

How this is calculated ↗
Valuation

Historical multiples

34.9×

3 annual observations · snapshot P/E 70.9× · 103.2% versus history

How this is calculated ↗
Valuation

Free cash flow yield

2.5%

Annual basis · read assumptions below

How this is calculated ↗
Quality

ROIC / quality

6.9%

Normalized tax · financing-capital proxy

How this is calculated ↗
Valuation

Value composite

32/100

Annual basis · read assumptions below

How this is calculated ↗
Momentum

12–1 price momentum

Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

How this is calculated ↗
Investment

Asset growth

10.0%

Annual basis · read assumptions below

How this is calculated ↗
Investment

Net payout yield

Requires reported dividends, repurchases and issuance; missing values are not zero.

Requires reported dividends, repurchases and issuance; missing values are not zero.

How this is calculated ↗
Quality

Accrual quality

-7.9%

Annual basis · read assumptions below

How this is calculated ↗
Momentum

Fundamental momentum

-1.8%

Annual basis · read assumptions below

How this is calculated ↗

Follow the cash

ANNUAL · USD

Operating cash flow and reinvestment over time

USD · bar maximum 5.5B2020-12-31: cfo $3,337,000,000.002020-12-31: capex $1,259,000,000.0020202021-12-31: cfo -$206,000,000.00 (negative; lower scale compressed)2021-12-31: capex $1,033,000,000.0020212022-12-31: cfo $485,000,000.002022-12-31: capex $1,301,000,000.0020222023-12-31: cfo $5,453,000,000.002023-12-31: capex $1,676,000,000.0020232024-12-31: cfo $4,563,000,000.002024-12-31: capex $2,078,000,000.0020242025-12-31: cfo $4,070,000,000.002025-12-31: capex $2,752,000,000.002025
Operating cash flowCapital expenditure

Annual USD. Negative bars use a compressed lower scale. Hover or inspect the financial history table for exact values.

Make the assumptions yours

Personal inputs stay in this browser. Blank fields retain published inputs. Five-year forecast; zero net borrowing. Required return must exceed terminal growth.

How sensitive is the valuation?

DCF per-share sensitivity · includes reviewed preferred and minority-owner claims · rows: required return · columns: growth
Return / Growth3.0%5.0%7.0%
8.0%$74.74$81.55$88.87
10.0%$54.77$59.59$64.76
12.0%$43.21$46.88$50.83

Annual financial history

Open SEC filings ↗
Fiscal year-endRevenueNet incomeOperating cash flowCapital expenditureAssets
2025-12-3117.6B944M4.1B2.8B41.6B
2024-12-3114.8B2.8B4.6B2.1B37.8B
2023-12-3113.8B1.5B5.5B1.7B33B
2022-12-3115.6B-1.2B485M1.3B32.8B
2021-12-3117.7B-1.3B-206M1B29.7B
2020-12-3110.9B624M3.3B1.3B25.2B
2019-12-3111.5B926M2.7B713M26.6B
2018-12-319.8B-56M1.5B530M26B

USD, abbreviated. Restated annual history; not a point-in-time backtest. Missing values appear as dashes.

Trace the inputs

MODEL ANNUAL PERIOD
InputValueSEC tag / sourceFiled
revenue17.6BRevenueFromContractWithCustomerExcludingAssessedTax2026-02-27
netIncome944MProfitLoss
Explicit consolidated amount, including the portion attributable to noncontrolling interests.
2026-02-27
Parent/common earnings proxy752MNetIncomeLossAvailableToCommonStockholdersBasic2026-02-27
cfo4.1BNetCashProvidedByUsedInOperatingActivities2026-02-27
capex2.8BPaymentsToAcquirePropertyPlantAndEquipment2026-02-27
operatingIncome1.9BOperatingIncomeLoss2026-02-27
assets41.6BAssets2026-02-27
equity5.1BStockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
Explicit consolidated amount, including the portion attributable to noncontrolling interests.
2026-02-27
Parent book equity proxy5.1BStockholdersEquity2026-02-27
debt17BLongTermDebtAndCapitalLeaseObligationsIncludingCurrentMaturities2026-02-27
shortDebt1.8BShortTermBorrowings2026-02-27
cash785MCashAndCashEquivalentsAtCarryingValue2026-02-27
shares345.7MWeightedAverageNumberOfDilutedSharesOutstanding2026-02-27
dividends306MPaymentsOfDividendsCommonStock2026-02-27
buybacks1BPaymentsForRepurchaseOfCommonStock2026-02-27
issuanceNot reported under a supported tag