Vistra Operations Company LLC

VSTCIK 00016928199 fiscal years

RevenueFY2025

$17.74B3.0%

Net incomeFY2025

$944.0M64.5%

Free cash flowFY2025

$1.32B47.0%

Diluted EPSFY2025

$2.1868.9%

Trends

FY2017–FY2025 · hover a year for its filing

Revenue & net incomeRevenueNet income

revenue 3.3× since FY2017 · net margin -4.7% → 5.3%

MarginsNet marginFCF margin

FY2025: net 5.3% · free cash flow 7.4% of revenue

Cash flowOperating cash flowFree cash flow

FY2025: $4.07B operating cash − $2.75B capex = $1.32B free cash flow

Returns on capitalReturn on equityReturn on assets

return on equity -1% (FY2018) → 19% (FY2025) · on assets 2.3%

Balance sheetLiabilitiesEquity

FY2025: $41.55B assets · $36.44B liabilities · $5.10B equity

Financial statements

Annual Quarterly

USD millions, except per-share values; share counts in millions. Hover a value for its XBRL tag and filing accession.

USD millions	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017
Revenue	17,738	17,224	14,779	13,728	12,077	11,443	11,809	9,144	5,430
Net income	944	2,659	1,493	(1,227)	(1,274)	636	928	(54)	(254)
Diluted EPS	2.18	7.00	3.58	(3.26)	(2.69)	1.30	1.86	(0.11)	(0.59)
Diluted shares	346	353	375	422	482	491	500	505	428
Operating cash flow	4,070	4,563	5,453	485	(206)	3,337	2,736	1,471	1,386
Capital expenditures	2,752	2,078	1,676	1,301	1,033	1,259	713	530	114
Free cash flow	1,318	2,485	3,777	(816)	(1,239)	2,078	2,023	941	1,272
Cash & equivalents	785	1,188	3,485	455	1,325	406	300	636	—
Total assets	41,550	37,770	32,966	32,787	29,683	25,208	26,616	26,024	—
Total liabilities	36,440	32,187	27,644	27,869	21,391	16,847	18,656	18,157	—
Shareholders' equity	5,097	5,570	5,307	4,902	8,291	8,371	7,959	7,863	—

As reported in SEC filings; a missing tag shows “—”, never zero. Free cash flow is operating cash flow − capex. Methodology