Vistra Corp. FY 2025 10-K, explained in plain English
Key financials — as reported
| Total revenue | $17.6B |
| Gross margin | — not reported |
| Operating income | $1.9B |
| Net income | $944.0M |
| Diluted EPS | $2.18 |
| Cash & equivalents | $785.0M |
| Total assets | $41.5B |
| Long-term debt | $17.0B |
Key takeaway
Vistra operates roughly 44,000 MW of generation capacity across natural gas, coal, nuclear, and renewables, serving about 5 million retail customers in 18 states.
🔒 4 more takeaways in the full analysis
Beneath the surface
Net debt is substantial: against $17.0 billion of long-term debt, Vistra holds only $785 million cash (or $822 million including restricted cash), implying net debt of roughly $16.2 billion, far exceeding total assets’ liquid buffer.
🔒 3 more insights a headline reader would miss
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