How does Vistra (VST) make money?

Vistra (VST) generates revenue primarily from Retail Segment, which accounted for 48.4% of total revenue in TTM through Q1 2026. The company reported $16.21B in revenue and converted 13.8% of it into net profit, equivalent to roughly $2.24B in net income — what's left after the cost of revenue, operating expenses, interest, and income taxes.

What is the gross profit margin of Vistra (VST)?

Vistra (VST) reported a gross profit margin of 12.7% in TTM through Q1 2026, equivalent to $2.06B in gross profit on $16.21B in revenue. Gross margin measures how much of each dollar of revenue remains after the direct cost of producing or delivering the product — a higher figure typically signals pricing power, scale, or a less capital-intensive business model.

What is the operating profit margin of Vistra (VST)?

Vistra (VST) reported an operating profit margin of 2.1% in TTM through Q1 2026, equivalent to $336.00M in operating income. Operating margin captures profitability after research & development, sales & marketing, and general & administrative expenses — but before interest, taxes, and one-off items — and is the cleanest single read on the underlying business's efficiency.

What is the net profit margin of Vistra (VST)?

Vistra (VST) reported a net profit margin of 13.8% in TTM through Q1 2026, equivalent to $2.24B in net income. Net margin is the bottom-line share of revenue that survives every expense — operating costs, interest, and income taxes — and is the figure that flows directly into earnings per share.

Is Vistra (VST) profitable?

Yes. Vistra (VST) reported $2.24B in net income for TTM through Q1 2026, with a net profit margin of 13.8%. The company earned more from its operations than it paid out in costs, interest, and income taxes, leaving positive earnings on the bottom line.

How much does Vistra (VST) spend on capital expenditures?

Vistra (VST) spent $3.71B on capital expenditures (CapEx) during TTM through Q1 2026, roughly 22.9% of total revenue. CapEx represents long-lived investment in property, equipment, data centres, and other physical infrastructure, and is subtracted from operating cash flow to arrive at free cash flow.

How much free cash flow does Vistra (VST) generate?

Vistra (VST) generated $965.00M in free cash flow during TTM through Q1 2026, a free-cash-flow margin of 6.0%. Free cash flow is the cash left after capital expenditures and represents the discretionary pool the company can use to pay dividends, repurchase shares, repay debt, or fund acquisitions without raising external capital.

What is the effective tax rate of Vistra (VST)?

Vistra (VST) had an effective tax rate of 19.4% in TTM through Q1 2026. The effective rate is the actual share of pre-tax income paid as income taxes and can differ materially from the statutory rate due to foreign earnings mix, tax credits (such as R&D), share-based compensation deductions, and one-off discrete items.

What are the main business segments of Vistra (VST)?

Vistra (VST) reports revenue across 4 reportable product segments, led by Retail Segment at 48.4% of total revenue in TTM through Q1 2026. See the revenue-by-segment table on this page for the full breakdown and how each segment feeds into the income-statement waterfall above.

Where does Vistra (VST) generate most of its revenue?

East Segment is the largest geographic market for Vistra (VST), accounting for 95.6% of revenue in the most recent annual filing. The complete regional split — including international markets and any Rest-of-World rollup — is shown in the revenue-by-geography table on this page.

How Vistra Makes Money: 2026 Visual Revenue Map

Vistra (VST) Income Statement Flow — TTM through Q1 2026

Calculated from the four most recent reported quarters, ending March 31, 2026 (reported May 8, 2026).

Vistra (VST) Revenue by Product Segment — TTM through Q1 2026

Aggregated from the four quarterly disclosures behind this TTM. Minor differences vs the company's annual filing can occur if reported segments changed mid-year.

Revenue contribution by product segment for Vistra (VST) in TTM through Q1 2026.
Segment	Revenue (USD)	% of total
Retail Segment	$7.85B	48.4%
East Segment	$3.78B	23.3%
Texas Segment	$3.26B	20.1%
Revenue From Other Wholesale Contracts	$1.32B	8.1%
Total	$16.21B	100%

Retail Segment$7.85B
East Segment$3.78B
Texas Segment$3.26B
Revenue From Other Wholesale Contracts$1.32B
Total$16.21B

Vistra (VST) Revenue by Geography — TTM through Q1 2026

Aggregated from the four quarterly disclosures behind this TTM. Minor differences vs the company's annual filing can occur if reported regions changed mid-year.

Revenue contribution by geographic region for Vistra (VST), TTM through Q1 2026
Region	Revenue (USD)	% of total
East Segment	$7.05B	95.6%
West Segment	$322.00M	4.4%
Total	$7.38B	100%

East Segment
West Segment
Total

Revenue Breakdown — TTM through Q1 2026

In TTM through Q1 2026, Vistra (VST) reports revenue across 4 operating segments; the largest segment was Retail Segment at 48.4%, followed by East Segment (23.3%) and Texas Segment (20.1%). Separately, by end-market geography, East Segment accounted for 95.6% of revenue, followed by West Segment (4.4%).

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