FY2025 · ended Dec 31, 2025 · Revenue $17.59B, +19.1% YoY · Filed Feb 27, 2026
Vistra Operations Company LLC (VST) files with the SEC under industry code 4911, Electric Services. In fiscal 2025, which ended Dec 31, 2025, it reported revenue of $17.6 billion and net income of $944.0 million. Free cash flow was $1.3 billion. As of Jun 30, 2026 it held $435.0 million in cash and investments and $19.6 billion in total debt.
Revenue (TTM)
$18.98B
+18.6% vs year-ago TTM
Net income (TTM)
$2.22B
-7.1% vs year-ago TTM
Operating cash flow (TTM)
$5.12B
+21.2% vs year-ago TTM
Free cash flow (TTM)
$2.25B
+36.4% vs year-ago TTM
EPS (TTM)
$5.86
-8.1% vs year-ago TTM
Dividend per share (TTM)
$0.91
Shares outstanding
336.95M
-0.6% vs prior year
Net cash
$-19.16B
as of Jun 30, 2026
Operating margin
18.8%
FY 2026
Company profile
- Industry
- Electric Services (SIC 4911)
- Listed as
- VST (NYSE)
- Fiscal year ends
- December 31
- Incorporated in
- DE
- Headquarters
- Irving, TX
- SEC filer status
- Large accelerated filer
- SEC CIK
- 1692819
- Former names
- Vistra Energy Corp. (until Jun 29, 2020); Vistra Energy Corp (until Jan 29, 2018)
Other Electric Services companies
Key figures
Fiscal-year totals from the annual reports. Balance sheet lines are as of each year end.
| Line | FY 2025 Dec 31, 2025 |
FY 2024 Dec 31, 2024 |
FY 2023 Dec 31, 2023 |
FY 2022 Dec 31, 2022 |
FY 2021 Dec 31, 2021 |
|---|---|---|---|---|---|
| Revenue | $17.6B | $14.8B | $13.8B | $15.6B | $17.7B |
| Operating income | $1.9B | $4.1B | $2.7B | -$1.2B | -$1.5B |
| Net income | $944.0M | $2.7B | $1.5B | -$1.2B | -$1.3B |
| Diluted EPS | $2.18 | $7.00 | $3.58 | -$3.26 | -$2.69 |
| Operating cash flow | $4.1B | $4.6B | $5.5B | $485.0M | -$206.0M |
| Free cash flow | $1.3B | $2.5B | $3.8B | -$816.0M | -$1.2B |
| Total assets | $41.5B | $37.8B | $33.0B | $32.8B | $29.7B |
| Total liabilities | $36.4B | $32.2B | $27.6B | $27.9B | $21.4B |
| Stockholders' equity | $5.1B | $5.6B | $5.3B | $4.9B | $8.3B |
| Cash and investments | $785.0M | $5.7B | $5.5B | $2.2B | $3.4B |
| Total debt | $19.2B | $16.6B | $14.7B | $949.0M | $10.5B |
Recent SEC filings
| Form | Description | Filed | Period |
|---|---|---|---|
| 8-K |
Current report
Material agreement, New debt
|
Oct 5, 2026 | Sep 30, 2026 |
| 8-K |
Current report
Material agreement, Other events
|
Sep 24, 2026 | Sep 24, 2026 |
| 10-Q | Quarterly report | Aug 10, 2026 | Jun 30, 2026 |
| 8-K |
Current report
Results of operations
|
Aug 7, 2026 | Aug 7, 2026 |
| 8-K |
Current report
Material agreement, New debt
|
Jul 16, 2026 | Jul 10, 2026 |
| 8-K |
Current report
Other events
|
Jul 14, 2026 | Jul 14, 2026 |
All 1000 Vistra Operations Company LLC SEC filings
Source: SEC EDGAR filings. This is company-reported data, not investment advice.