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Vistra VST Q3 2025 earnings

Reported November 6, 2025 · Before market open

Revenue$5.0BMiss by $1.1B
EPS$1.75Miss by $0.33
Revenue estimate$6.1B
EPS estimate$2.08

Next report

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

Financials

Q3 2025

Income statement

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Revenue$5.0B-20.9%
Operating income$1.0B-59.9%
Net income$652.0M-65.5%
EPS (diluted)$1.75-66.7%

Balance sheet

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Cash & equivalents$638.0M-32.1%
Total debt$16.3B+8.1%
Total equity$5.2B-4.2%
Total assets$38.0B+0.4%

Cash flow

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Operating cash flow$1.5B-13.8%
CapEx$458.0M-33.1%
Free cash flow$1.0B-0.8%

Valuation & ratios

Valuation

as of 09/30/25
See full
Market cap$66.38B+61.4%
Enterprise value$82.02B+48.4%
P/E57.6×—
P/S3.9×+1.3×

Profitability

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Operating margin11.8%-10.2pp
Net margin6.7%—
FCF margin9.6%-2.9pp

Returns & leverage

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Return on equity21.6%—
Debt / equity3.1×+0.4×
Current ratio1×-0.1×

Segments

By product

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Retail energy charge in ERCOT$2.7B+7.9%
Retail energy charge in Northeast/Midwest$1.1B+0.3%
Wholesale generation revenue from ISO/RTO$683.0M+31.3%
Revenue from other wholesale contracts$264.0M+4.8%
Hedging revenues — unrealized$162.0M-91.7%

By segment

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Retail$4.1B-2.6%
Texas$1.8B-57.6%
East$1.8B-5.6%
West$165.0M-28.9%
Asset Closure$2.0M-81.8%

FAQ

When did Vistra report Q3 2025 earnings?
Vistra (VST) reported Q3 2025 earnings on November 6, 2025 before market open.
What were Vistra's Q3 2025 revenue and EPS?
Vistra reported revenue of $5.0B and eps of $1.75 for Q3 2025.
Did Vistra beat estimates in Q3 2025?
Revenue missed the consensus estimate of $6.1B by $1.1B. EPS missed the consensus estimate of $2.08 by $0.33.
How did Vistra's Q3 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue declined 10.2% from $5.5B a year earlier and eps declined 67.6% from $5.40.
Where can I find Vistra's Q3 2025 SEC filings?
You can read the 8-K earnings release (0001193125-25-268033) and the 10-Q periodic report (0001692819-25-000094) directly on SEC EDGAR. The filing index links above go to sec.gov.