Vistra Corp. VST
Vistra is an integrated retail electricity and power generation company that provides essential power resources to customers, businesses, and communities from California to Maine. 10-K, Item 1
- Employees
- 6,390
- Headquarters
- Irving, TX
- CEO
- James A. Burke
- Next results
- around Feb 25, 2027
VST among Utilities peers
Six ratios from the latest 10-K. Each corner is the share of 30 peers the company is above, not a score.
What changed
14 new risk paragraphs and 1 accounting fact worth reading about. 10-K filed Feb 27, 2026 against Feb 28, 2025.
Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.
Accounting checks
10 checks on the latest 10-K. Checks, not verdicts.
1fact worth reading about the other 9 checks found nothing to note
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Receivables growing faster than revenueReceivables +17.2% vs revenue +3.0% (+14.2 pts)
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Cash from operations $4.1B vs net income $944.0M (FY ending Dec 31, 2025)
8 more checks with nothing to note
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Same auditor in both 10-Ks: Deloitte & Touche LLP
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No statement of substantial doubt about going concern
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No 8-K item 4.02 in the last 2 years
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No NT 10-K or NT 10-Q in the last 2 years
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No longer listed: Energy Harbor Holdings LLC Acquisition
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No sentence in the 10-K concludes that controls were not effective because of a material weakness
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No 8-K item 2.06 in the last 2 years
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No 8-K item 1.03 in the last 2 years
In their words
14 paragraphs in Risk Factors that were not in the 10-K filed Feb 28, 2025. Quoted as filed.
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Item 1A · new paragraph · not in the 10-K filed Feb 28, 2025 10-K, ITEM 1A
We may not be able to consummate the Cogentrix Transactions on the anticipated terms, on the anticipated timeline, or at all, which could adversely affect our business, financial condition, results of operation and stock price. The consummation of the Cogentrix Transactions (as defined below) remains subject to the satisfaction or…
New risk paragraphs, against peers
Latest 10-K of each, Utilities companies closest in revenue
Paragraphs in Risk Factors with nothing like them in the company's 10-K the year before. A count of text, not of risk.
Financial performance
Last 4 fiscal years · 10-K XBRL
| Metric | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|
| Revenue | $15.6B | $14.8B | $17.2B | $17.7B |
| Net income | −$1.2B | $1.5B | $2.7B | $944.0M |
| Operating cash flow | $485.0M | $5.5B | $4.6B | $4.1B |
| Free cash flow | −$816.0M | $3.8B | $2.5B | $1.3B |
Revenue, FY2017 to FY2025
Ten fiscal years, each from its own 10-K · XBRL · USD
$17.7B ▲ 3.0% in FY2025$944.0M ▼ 64.5% in FY2025$1.3B ▼ 47.0% in FY2025
Recent filings
4 filings in the last 30 days · SEC EDGAR
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8-KNov 9, 2026Other events 8-K item 8.01
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10-QNov 9, 2026Quarterly report (10-Q) period ended Sep 30, 2026
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8-KNov 6, 2026Quarterly results 8-K item 2.02
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8-KNov 5, 2026Acquisition or sale of assets completed, New debt or obligation, Unregistered share sale, Regulation FD disclosure 8-K items 2.01, 2.03, 3.02, 7.01
About the company
Vistra Corp., Irving, TX · from the 10-K filed Feb 27, 2026
Vistra is an integrated retail electricity and power generation company that provides essential power resources to customers, businesses, and communities from California to Maine. We combine an innovative, customer-centric approach to retail sales with safe, reliable, diverse, and efficient power generation. Our integrated power generation and wholesale operation allows us to efficiently obtain the electricity needed to serve our customers at the lowest cost. The integrated model enables us to structure products and contracts in a way that offers significant value compared to stand-alone retail electric providers.
- Headquarters
- Irving, TX
- Country
- United States
- Reports in
- USD
- Listed on
- NYSE
- Fiscal year ends
- December 31
- Last results
- Nov 6, 2026
- Incorporated in
- DE
Employees, at the top of the page: "As of December 31, 2025, we had approximately 6,390 full-time employees, including approximately 1,860 employees under collective bargaining agreements" (10-K). Address and exchange: SEC's company file.
Email alerts
Sources
The 10-K filed Feb 27, 2026 (open at SEC), compared with the 10-K filed Feb 28, 2025. Numbers from the XBRL of the 10-Ks; filings from SEC EDGAR.
Work with it: Excel workbook · CSV. Google Sheet that stays up to date: paste =IMPORTDATA("https://tickdelta.com/company/VST/export.csv") into a cell.