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Vistra VST Debt-to-equity

Debt-to-equity at other companies

Nextra Energy logo
Nextra EnergyNEE
1.8×0.0×
Ameren logo
AmerenAEE
1.5×-0.1×
NRG Energy logo
NRG EnergyNRG
5.5×+1.1×
CNP
CenterPoint EnergyCNP
1.8×-0.1×
Entergy logo
EntergyETR
1.9×-0.1×
Xcel Energy logo
Xcel EnergyXEL
1.6×0.0×

Other financials

Income statement

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Revenue$5.6B+43.4%
Operating income$1.5B+1,349%
Net income$1.0B+484%
EPS (diluted)$2.87+409%

Balance sheet

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Cash & equivalents$677.0M+13.6%
Total debt$19.2B+6.7%
Total equity$5.6B+16.0%
Total assets$41.3B+8.1%

Cash flow

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Operating cash flow$1.2B+100%
CapEx$883.0M+15.0%
Free cash flow$316.0M+287%

Valuation

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Market cap$53.55B+27.4%
Enterprise value$72.04B+21.1%
P/E23.9×+6.6×
P/S2.8×+0.4×

Profitability

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Operating margin18.1%-3.3pp
Net margin11.5%-1.9pp

Returns & leverage

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Return on equity43%-3.3pp
Current ratio0.9×0.0×

Where this comes from

Calculated from Vistra’s reported figures.

Based on the most recent quarter.

The official record: Vistra’s 10-Q, filed May 8, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Vistra's debt-to-equity?
Vistra (VST) reported debt-to-equity of 3.4× in Q1 2026.
How has Vistra's debt-to-equity changed year-over-year?
Vistra's debt-to-equity decreased by 8.0% year-over-year, from 3.7× to 3.4×.
What is the long-term trend for Vistra's debt-to-equity?
Over 4 years (2021 to 2025), Vistra's debt-to-equity has grown at a 19.6% compound annual growth rate (CAGR), from 6.9× to 14.1×.
What does debt-to-equity mean?
How much debt the company carries for every dollar of shareholder equity.
How do you interpret debt-to-equity?
Lower is generally safer, but moderate leverage can boost returns. Read in the context of cash-flow stability — a utility tolerates more debt than a cyclical. Negative equity makes the ratio meaningless and it is suppressed there.
How does debt-to-equity compare across companies?
Comparable within an industry; capital structures differ sharply across sectors. Not meaningful for banks.