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Vistra VST Issuance of Series C Preferred Stock as consideration for the repurchase of TRA Rights with a carrying value of $506 million

Issuance of Series C Preferred Stock as consideration for the repurchase of TRA Rights with a carrying value of $506 million at other companies

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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$53.49B-21.2%
Enterprise value$71.97B-14.3%
P/E23.9×-4.5×
P/S2.8×-0.9×

Profitability

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Operating margin18.1%-3.3pp
Net margin11.5%-1.9pp
FCF margin9.3%-4.4pp

Returns & leverage

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Return on equity43%-3.3pp
Debt / equity3.4×-0.3×
Current ratio0.9×0.0×

Where this comes from

Reported directly by Vistra in its filing.

Tagged under the XBRL concept vistra:TaxReceivableAgreementRepurchasedRightDuringThePeriod.

The official record: Vistra’s 10-K, filed February 27, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Vistra's issuance of series c preferred stock as consideration for the repurchase of TRA rights with a carrying value of $506 million?
Vistra (VST) reported issuance of series c preferred stock as consideration for the repurchase of TRA rights with a carrying value of $506 million of $0 in Q4 2025.
What is the long-term trend for Vistra's issuance of series c preferred stock as consideration for the repurchase of TRA rights with a carrying value of $506 million?
Over 2 years (2023 to 2025), Vistra's issuance of series c preferred stock as consideration for the repurchase of TRA rights with a carrying value of $506 million has grown at a -100.0% compound annual growth rate (CAGR), from $476M to $0.
What does issuance of series c preferred stock as consideration for the repurchase of TRA rights with a carrying value of $506 million mean?
This metric quantifies the non-cash consideration, typically in the form of equity or preferred securities, issued to settle or repurchase rights associated with a Tax Receivable Agreement (TRA). These agreements often arise from historical corporate reorganizations or acquisitions, obligating the company to pay out future tax savings to former owners. Repurchasing these rights simplifies the capital structure and eliminates future cash payment obligations, reflecting a strategic move to optimize the balance sheet and reduce long-term liabilities.