VST
Vistra Corp.

Vistra Corp.VST

Utilities · Utilities - Independent Power Producers
141.94USD
+1.07%
Sep 21, 2026
VST overview ready
Integrated U.S. Electricity generation and retail supplier to diverse customers
Vistra is an integrated competitive power producer and retailer with a diversified U.S.
Strong narrative exposure
Exposed to the Dispatchable Power for Large Loads narrative through Independent Power Producers and Power Contracts — pure play.
Price trend is broken
Longer-term context reads trend under pressure, with a near-term setup of distribution pressure.
The tactical setup reads distribution pressure, but the weekly structure is broken.
Demanding valuation
The price embeds expectations that run ahead of the strength of its balance sheet.
Solid fundamentals
Free cash flow yield is strong.
Primary risk
Regulatory and policy changes in energy markets.
Market Sep 21Filing Jun 30Price action Sep 21Research Sep 21

Conviction Level

NarrativeHeat9.1ThemeHeat9.0PriceAction3.4Valuation3.1CompanyPosition7.3
Price
Loading price history…

Price Action

Price trend is broken
Longer-term context reads trend under pressure, with a near-term setup of distribution pressure.
The tactical setup reads distribution pressure, but the weekly structure is broken.
EntryWeak / unconfirmed recovery

The daily chart may be improving, but the weekly fast averages have not been reclaimed — the recovery is not yet confirmed on the higher timeframe.

Key Financials

Market Cap
$56.0B
Avg Volume (60D)
4.4M
60 sessions
Revenue Growth YoY
+19.1%
FY2025 vs FY2024
Operating Margin
+18.8%
Trailing twelve months
Free Cash Flow Yield
+4.0%
P/E
25.2x
EV / EBITDA
14.2x
EV / Sales
4.1x
Market metrics as of Jul 22, 2026
Financial results for the period ended Jun 30, 2026
Filed balance-sheet data as of Jun 30, 2026

Fundamentals & Valuation

One of the two valuation perspectives says expensive; peers is the dissenting view.
This company has an Expensive valuation stance because the price embeds expectations that run ahead of the strength of its balance sheet. It trades at a 4.0% free-cash-flow yield and 14.2x EBITDA, which require sustained delivery to be justified.

Company Research

Thesis
Vistra is an integrated competitive power producer and retailer with a diversified U.S. Generation fleet, wholesale trading and fuel-management capabilities.
Opportunity
Moderate opportunity
Demand from hyperscalers, data centers, manufacturers, and other large power users for firm, contracted electricity and capacity in constrained power markets.
Key risk
Regulatory and policy changes in energy markets.

Narrative & Theme

Dispatchable Power for Large Loads
Part of Independent Power Producers and Power Contracts, with strong fit.
VST is a genuine direct beneficiary of the large-load reliability and contracted-power theme, rather than a generic utility adjacency.
Narrative HeatHot9.1 / 10
Theme HeatHot9.0 / 10

Business & Markets

Utilities · Utilities - Independent Power Producers
What they do

Vistra Corp. operates as an integrated retail electricity and power generation company in the U.S., managing electricity retail, generation, wholesale energy trading, and fuel logistics across multiple regional segments.

How it earns

The company generates revenue primarily through transactional sales of electricity and natural gas to residential, commercial, and industrial customers.

Products & services
Electricity retail
Natural gas retail
Electricity generation
Wholesale energy trading
Fuel procurement and logistics
Customers & end markets
Residential customers
Commercial customers
Industrial customers
Market position

Leader in integrated power generation and retail electricity markets in the United States.

Demand drivers
Medium cyclicality

Demand for electricity is relatively stable but can be influenced by economic cycles, weather, and regulatory changes.

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