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Vistra VST Q2 2025 earnings

Reported August 6, 2025 · Before market open

Revenue$4.3BMiss by $494.5M
EPS$0.81Miss by $0.06
Revenue estimate$4.7B
EPS estimate$0.88

Next report

Nov 6, 2026 (in a month)
Revenue estimate$7.2B
EPS estimate$2.89

Financials

Q2 2025

Income statement

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Revenue$4.3B+10.5%
Operating income$515.0M-36.3%
Net income$327.0M-10.4%
EPS (diluted)$0.81-10.0%

Balance sheet

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Cash & equivalents$495.0M-70.2%
Total debt$16.9B+4.5%
Total equity$4.8B-13.8%
Total assets$38.1B-2.5%

Cash flow

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Operating cash flow$572.0M-52.2%
CapEx$690.0M+38.6%
Free cash flow-$118.0M-117%

Valuation & ratios

Valuation

as of 06/30/25
See full
Market cap$63.17B+111%
Enterprise value$79.6B+78.7%
P/E26.5×—
P/S3.4×+1.3×

Profitability

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Operating margin19.4%+6.3pp
Net margin12.9%—
FCF margin8.9%-7.0pp

Returns & leverage

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Return on equity45.9%—
Debt / equity3.5×+0.6×
Current ratio0.9×-0.1×

Segments

By product

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Retail energy charge in ERCOT$2.2B+8.2%
Retail energy charge in Northeast/Midwest$793.0M-20.0%
Wholesale generation revenue from ISO/RTO$474.0M+68.7%
Hedging revenues — realized$427.0M+49.3%
Revenue from other wholesale contracts$250.0M-7.7%

By segment

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Retail$3.5B+11.5%
Texas$1.8B+709%
East$1.5B-3.4%
West$68.0M-64.8%
Asset Closure$20.0M+122%

FAQ

When did Vistra report Q2 2025 earnings?
Vistra (VST) reported Q2 2025 earnings on August 6, 2025 before market open.
What were Vistra's Q2 2025 revenue and EPS?
Vistra reported revenue of $4.3B and eps of $0.81 for Q2 2025.
Did Vistra beat estimates in Q2 2025?
Revenue missed the consensus estimate of $4.7B by $494.5M. EPS missed the consensus estimate of $0.88 by $0.06.
How did Vistra's Q2 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 15.2% from $3.7B a year earlier and eps declined 10.0% from $0.90.
Where can I find Vistra's Q2 2025 SEC filings?
You can read the 8-K earnings release (0001193125-25-174942) and the 10-Q periodic report (0001692819-25-000085) directly on SEC EDGAR. The filing index links above go to sec.gov.