VST Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

03

Price $140.02

Market Cap (MRQ) $47.04B

P/E (TTM) 23.6

EPS (TTM) $5.93

Revenue (TTM) $19.21B

Div Yield 0.65%

ROE (TTM) 43.1%

Debt/Equity (MRQ) 0.0

52W Range $133–$217

VST Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view

04

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About Vistra Corp. Common Stock Company overview from Wikipedia

05 · wikidata

Vistra Corp. is an integrated retail electricity and power generation company based in Irving, Texas. The company is the largest competitive power generator in the U.S. with a capacity of approximately 39GW powered by a diverse portfolio, including natural gas, coal, nuclear, solar, and battery energy storage facilities.

In the 2020 Forbes Global 2000, Vistra Energy was ranked as the 756th-largest public company in the world. The company owns the Moss Landing Power Plant in California which as of 2021 contained the largest battery energy storage system in the world (400-MW/1,600-MWh), but was significantly damaged in a fire in January 2025. As of 2020, the company was ranked as the highest CO2 emitter in the US. In 2024, it is ranked first as the No. 1 polluter in the United States for the 2024 Greenhouse 100 Polluters Index Report, producing 1.5% of all greenhouse gas emissions generated in the United States of America, according to the Political Economy Research Institute (PERI) at the University of Massachusetts, Amherst.

## History

In 2016, Texas Competitive Electric Holdings (TCEH) parent company of TXU Energy and Luminant, emerged from Chapter 11 (as part of the bankruptcy protection for Energy Future Holdings Corporation). TCEH was then rebranded as Vistra Energy.

Vistra acquired Dynegy in 2018. In 2019, Ambit Energy was acquired, resulting in a 32% residential market share in Electric Reliability Council of Texas (ERCOT), with NRG Energy as its largest competitor. It also acquired Crius Energy in 2019.

In May 2025, Vistra announced they were set to buy seven natural gas power plants for US$1.9 billion from Lotus Infrastructure Partners.

10-Year Performance Revenue, net income, margins and EPS trends

06

Revenue$17.74B

2017-12-31 → 2025-12-31

EPS$2.18

2017-12-31 → 2025-12-31

Free Cash Flow$1.32B

2019-12-31 → 2025-12-31

Net margin11.6%

2019-12-31 → 2025-12-31

Valuation & Ratios 07–12

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Metric	VST	5Y avg	Peer Median	Verdict
P/E (TTM)	23.65Y avg ≈17.8	≈17.8	·	·
P/S (TTM)	2.45Y avg ≈1.7	≈1.7	2.3	Overvalued
P/B (MRQ)	8.65Y avg ≈5.0	≈5.0	6.7	Overvalued
EV / EBITDA	12.45Y avg ≈12.9	≈12.9	·	·
Price / FCF (TTM)	20.95Y avg ≈8.8	≈8.8	·	·
Price / Cash Flow (TTM)	9.25Y avg ≈-1.4	≈-1.4	11.8	Overvalued
EV / Revenue	2.75Y avg ≈1.5	≈1.5	·	·
EV / FCF	36.75Y avg ≈11.2	≈11.2	·	·
Price / Tangible Book (MRQ)	14.75Y avg ≈32.2	≈32.2	·	·
PEG Ratio	≈2.2	·	·	·

Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.

Profitability Gross, operating and net margins; ROE, ROA, ROIC

Metric	VST	5Y avg	Peer Median	Verdict
Operating Margin (TTM)	18.5%5Y avg ≈6.3%	≈6.3%	·	·
EBITDA Margin (TTM)	28.2%5Y avg ≈17.9%	≈17.9%	0.72%	Top tier
Pretax Margin (TTM)	14.6%5Y avg ≈2.9%	≈2.9%	-2.8%	Top tier
Net Profit Margin (TTM)	11.6%5Y avg ≈2.3%	≈2.3%	-2.4%	Top tier
ROA (TTM)	5.5%5Y avg ≈1.2%	≈1.2%	1.8%	Top tier
ROE (TTM)	43.1%5Y avg ≈12.4%	≈12.4%	17.7%	In line
ROIC	23.2%5Y avg ≈18.0%	≈18.0%	·	·

Financial Health Debt, liquidity, solvency — balance sheet strength

Metric	VST	5Y avg	Peer Median	Verdict
Debt / Equity (MRQ)	0.05Y avg ≈0.2	≈0.2	0.1	Low debt
Current Ratio (MRQ)	1.05Y avg ≈1.1	≈1.1	0.8	Strong liquidity
Quick Ratio	0.35Y avg ≈0.4	≈0.4	0.4	Low liquidity

Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR

Metric	VST	5Y avg	Peer Median	Verdict
Revenue YoY	3.0%5Y avg ≈9.3%	≈9.3%	·	·
Revenue CAGR 3Y	8.9%5Y avg ≈10.1%	≈10.1%	·	·
Revenue CAGR 5Y	9.2%	·	·	·
EPS YoY	-68.9%	·	·	·
Net Income YoY	-64.5%	·	·	·
EPS CAGR 3Y	40.2%	·	·	·
EPS CAGR 5Y	10.9%	·	·	·
Net Income CAGR 3Y	32.9%	·	·	·
Net Income CAGR 5Y	8.2%	·	·	·

Per Share Metrics EPS, book value per share, cash flow per share, dividend per share

Metric	VST	5Y avg	Peer Median	Verdict
EPS (Diluted)	$2.185Y avg ≈$1.36	≈$1.36	·	·
Revenue / Share	$51.325Y avg ≈$39.42	≈$39.42	·	·
Cash Flow / Share	$11.775Y avg ≈$7.99	≈$7.99	·	·
Cash / Share	$2.325Y avg ≈$3.95	≈$3.95	·	·

Capital Efficiency Asset turnover, inventory turnover, receivables turnover

Metric	VST	5Y avg	Peer Median	Verdict
Asset Turnover	0.45Y avg ≈0.5	≈0.5	0.4	Top tier
Receivables Turnover	8.25Y avg ≈8.5	≈8.5	18.6	Weak
Revenue / Employee	≈$2.8M	·	·	·

value · ≈ 5Y avg · industry median · verdict relative to median

Dividends Yield, payout ratio, dividend history, 5Y CAGR

13

Dividend Yield0.65%

Payout Ratio32.4%

Annualized Payout≈$0.92Paid quarterly

5Y Div CAGR≈10.8%Per share, split-adjusted

Growth Streak≈5Consecutive years of dividend growth

Ex-date	Amount	Currency	Yield
Sep 21, 2026	$0.23	USD	≈0.65%
Jun 22, 2026	$0.23	USD	≈0.54%
Mar 20, 2026	$0.23	USD	≈0.62%
Dec 22, 2025	$0.23	USD	≈0.56%
Sep 19, 2025	$0.23	USD	≈0.42%
Jun 18, 2025	$0.23	USD	≈0.49%
Mar 20, 2025	$0.22	USD	≈0.67%
Dec 20, 2024	$0.22	USD	≈0.63%
Sep 20, 2024	$0.22	USD	≈0.80%
Jun 18, 2024	$0.22	USD	≈0.97%
Mar 19, 2024	$0.22	USD	≈1.3%
Dec 19, 2023	$0.21	USD	≈2.2%
Sep 19, 2023	$0.21	USD	≈2.4%
Jun 20, 2023	$0.20	USD	≈3.1%
Mar 21, 2023	$0.20	USD	≈3.0%
Dec 19, 2022	$0.19	USD	≈3.0%
Sep 20, 2022	$0.18	USD	≈2.7%
Jun 21, 2022	$0.18	USD	≈2.8%
Mar 21, 2022	$0.17	USD	≈2.8%
Dec 15, 2021	$0.15	USD	≈2.9%

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

14

Avg Surprise -53.8%

Next Report Nov 06, 2026

Period	Report	EPS Actual	EPS Est	Surprise
June 30, 2026	Aug 7, 2026	$0.76	$1.69	-55.1%
March 31, 2026		$2.87	$1.35	112.2%
Dec. 31, 2025		$0.54	$2.37	-77.2%
Sept. 30, 2025		$1.75	$2.12	-17.6%
June 30, 2025		$0.71	$1.23	-42.5%
March 31, 2025		$-0.93	$0.65	-242.5%

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

15

Income Statement 12

Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017
Revenue	$17.74B	$17.22B	$14.78B	$13.73B	$12.08B	$11.44B	$11.81B	$9.14B	$5.43B
SG&A Expense	$1.71B	$1.60B	$1.31B	$1.19B	$1.04B	$1.03B	$904M	$926M	$600M
Operating Income	$1.91B	$4.08B	$2.66B	$-1.18B	$-1.51B	$1.52B	$1.99B	$491M	$198M
Interest Expense	·	·	$740M	$368M	$384M	$630M	$797M	$572M	$193M
Pretax Income	$1.12B	$3.47B	$2.00B	$-1.56B	$-1.72B	$890M	$1.22B	$-101M	$250M
Income Tax	$179M	$655M	$508M	$-350M	$-458M	$266M	$290M	$-45M	$504M
Net Income	$944M	$2.66B	$1.49B	$-1.23B	$-1.27B	$636M	$928M	$-54M	$-254M
EPS (Basic)	$2.22	$7.16	$3.63	$-3.26	$-2.69	$1.30	$1.88	$-0.11	$-0.59
EPS (Diluted)	$2.18	$7.00	$3.58	$-3.26	$-2.69	$1.30	$1.86	$-0.11	$-0.59
Shares (Basic)	339,124,917	344,788,634	369,771,359	422,447,074	482,214,544	488,668,263	494,146,268	504,954,371	427,761,460
Shares (Diluted)	345,656,067	352,567,060	375,193,110	422,447,074	482,214,544	491,090,468	499,935,490	504,954,371	427,761,460
EBITDA	$3.89B	$5.92B	$4.16B	$419M	$238M	$3.26B	$3.63B	·	·

Balance Sheet 28

Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017
Cash & Equivalents	$785M	$1.19B	$3.48B	$455M	$1.32B	$406M	$300M	$636M	$1.49B
Receivables	$2.32B	$1.98B	$1.67B	$2.06B	$1.40B	$1.28B	$1.36B	$1.09B	$582M
Inventory	·	$970M	$740M	$570M	$610M	$515M	$469M	$412M	$253M
Prepaid Expense	$654M	$523M	$364M	$293M	$195M	$205M	$298M	$152M	$72M
Current Assets	$9.18B	$8.12B	$11.64B	$11.12B	$7.88B	$3.43B	$4.11B	$3.44B	$2.67B
PP&E (Net)	$19.85B	$18.17B	$12.43B	$12.55B	$13.06B	$13.50B	$13.91B	$14.61B	$4.82B
PP&E (Gross)	·	·	$18.03B	$17.34B	$16.99B	$16.01B	$15.99B	$15.43B	$4.63B
Accum. Depreciation	$9.27B	$8.02B	$6.66B	$5.75B	$4.80B	$3.61B	$2.55B	$1.28B	$282M
Goodwill	$2.81B	$2.81B	$2.58B	$2.58B	$2.58B	$2.58B	$2.55B	$2.07B	$1.91B
Intangibles	$2.44B	$2.21B	$1.86B	$1.96B	$2.15B	$2.45B	$2.75B	$2.49B	$2.53B
Other Non-current Assets	$1.54B	$1.19B	$601M	$351M	$361M	$332M	$352M	$590M	$162M
Total Assets	$41.55B	$37.77B	$32.97B	$32.79B	$29.68B	$25.21B	$26.62B	$26.02B	$14.60B
Accounts Payable	$1.64B	$1.51B	$1.15B	$1.56B	$1.51B	$880M	$947M	$945M	$473M
Short-term Debt	$1.80B	$0	$0	$650M	$0	$0	$350M	$0	$0
Current Liabilities	$11.81B	$8.43B	$9.82B	$10.34B	$5.84B	$3.04B	$4.57B	$3.62B	$1.35B
Capital Leases	$92M	$98M	$48M	$45M	$38M	$40M	$41M	$0	·
Deferred Tax	$1.05B	$697M	$1M	$1M	$0	$1M	$2M	$10M	$0
Other Non-current Liabilities	$1.53B	$1.27B	$999M	$1.00B	$1.49B	$1.13B	$989M	$741M	$220M
Total Liabilities	$36.44B	$32.19B	$27.64B	$27.87B	$21.39B	$16.85B	$18.66B	$18.16B	$8.26B
Long-term Debt	$17.04B	$16.30B	$14.40B	·	·	·	·	·	·
Total Debt	$1.80B	·	$0	$650M	·	$0	$350M	·	·
Common Stock	$5M	$5M	$5M	$5M	$5M	$5M	$5M	$5M	$4M
Retained Earnings	$-12M	$-454M	$-2.61B	$-3.64B	$-1.96B	$-399M	$-764M	$-1.45B	$-1.41B
Treasury Stock	$6.92B	$5.91B	$4.66B	$3.40B	$1.56B	$973M	$973M	$-778M	·
AOCI	$17M	$20M	$6M	$7M	$-16M	$-48M	$-30M	$-22M	$-17M
Stockholders' Equity	$5.10B	$5.57B	$5.31B	$4.90B	$8.29B	$8.37B	$7.96B	$7.86B	$6.34B
Liabilities + Equity	$41.55B	$37.77B	$32.97B	$32.79B	$29.68B	$25.21B	$26.62B	$26.02B	$14.60B
Shares Outstanding	338,059,635	339,754,307	351,457,016	389,754,870	469,072,597	489,305,888	487,698,111	493,215,309	428,398,802

Cash Flow 17

Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017
D&A	$1.99B	$1.84B	$1.50B	$1.60B	$1.75B	$1.74B	$1.64B	$1.39B	$699M
Stock-based Comp	$113M	$100M	$77M	$63M	$47M	$65M	$47M	$73M	$0
Deferred Tax	$136M	$607M	$457M	$-359M	$-475M	$230M	$281M	$-62M	$418M
Other Non-cash	$891M	$-646M	$1.92B	$412M	$-257M	$669M	$-160M	·	·
Operating Cash Flow	$4.07B	$4.56B	$5.45B	$485M	$-206M	$3.34B	$2.74B	$1.47B	$1.39B
CapEx	$2.75B	$2.08B	$1.68B	$1.30B	$1.03B	$1.26B	$713M	$530M	$114M
Investing Cash Flow	$-4.40B	$-5.28B	$-2.15B	$-1.24B	$-1.15B	$-1.57B	$-1.72B	$-101M	$-727M
Debt Issued	·	·	$2.50B	$1.50B	$1.25B	$0	$6.51B	$1.00B	$0
Net Debt Issued	$-2.58B	$-2.29B	$2.50B	$1.50B	$1.25B	$0	$6.51B	·	·
Stock Repurchased	$1.03B	$1.27B	$1.25B	$1.95B	$471M	$0	$656M	$763M	$0
Net Stock Activity	$-1.03B	$-1.27B	$-1.25B	$-1.95B	$-471M	$0	$-656M	·	·
Dividends Paid	$306M	$305M	$313M	$302M	$290M	$266M	$243M	$0	$0
Financing Cash Flow	$-74M	$-1.60B	$-294M	$-80M	$2.27B	$-1.80B	$-1.24B	$-2.72B	$-201M
Net Change in Cash	$-400M	$-2.32B	$3.01B	$-834M	$915M	·	·	·	·
Taxes Paid	$97M	$55M	$31M	·	$-50M	$-140M	$-76M	$67M	$63M
Free Cash Flow	$1.32B	$2.48B	$3.78B	$-816M	$-1.24B	$2.08B	$2.22B	·	·
Levered FCF	·	·	$3.22B	$-1.10B	$-1.52B	$1.64B	$1.61B	·	·

Profitability 7

Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017
Operating Margin	10.8%	23.7%	18.0%	-8.6%	-12.5%	13.3%	16.9%	·	·
Net Margin	5.3%	15.4%	10.1%	-8.9%	-10.5%	5.6%	7.9%	·	·
Pretax Margin	6.3%	20.1%	13.5%	-11.4%	-14.3%	7.8%	10.3%	·	·
EBITDA Margin	21.9%	34.4%	28.2%	3.0%	2.0%	28.4%	30.8%	·	·
ROA	2.4%	7.5%	4.5%	-3.9%	-4.6%	2.5%	3.5%	·	·
ROE	17.7%	48.9%	29.2%	-18.6%	-15.3%	7.8%	11.7%	·	·
ROIC	23.2%	59.4%	37.4%	-16.4%	-13.4%	12.7%	18.3%	·	·

Liquidity & Solvency 4

Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017
Current Ratio	0.8	1.0	1.2	1.1	1.3	1.1	0.9	·	·
Quick Ratio	0.3	0.4	0.5	0.2	0.5	0.6	0.4	·	·
Debt / Equity	0.4	·	0.0	0.1	·	0.0	0.0	·	·
Interest Coverage	·	·	3.6	-3.2	-3.9	2.4	2.5	·	·

Efficiency 2

Metric	Trend	2025	2024	2023	2022	2021	2020	2019	2018	2017
Asset Turnover		0.4	0.5	0.4	0.4	0.4	0.4	0.4	·	·
Receivables Turnover		8.2	9.4	7.9	7.9	9.0	8.7	9.6	·	·

Per Share 6

Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017
Book Value / Share	$15.08	$16.39	$15.10	$12.58	$17.68	$17.11	$16.32	·	·
Revenue / Share	$51.32	$48.85	$39.39	$32.50	$25.04	$23.30	$23.62	·	·
Cash Flow / Share	$11.77	$12.94	$14.53	$1.15	$-0.43	$6.80	$5.47	·	·
Cash / Share	$2.32	$3.50	$9.92	$1.17	$2.82	$0.83	$0.62	·	·
Dividend Paid / Share	$0.90	$0.87	$0.82	$0.72	·	·	$0.12	·	·
EPS (TTM)	$2.18	$7.00	$3.58	$-3.26	$-2.69	$1.30	$1.86	$-0.11	·

Growth Rates 10

Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017
Revenue YoY	3.0%	16.5%	7.7%	13.7%	5.5%	·	·	·	·
Revenue CAGR 3Y	8.9%	12.6%	8.9%	·	·	·	·	·	·
Revenue CAGR 5Y	9.2%	·	·	·	·	·	·	·	·
EPS YoY	-68.9%	95.5%	·	·	·	·	·	·	·
EPS CAGR 3Y	·	·	40.2%	·	·	·	·	·	·
EPS CAGR 5Y	10.9%	·	·	·	·	·	·	·	·
Net Income YoY	-64.5%	78.1%	·	·	·	·	·	·	·
Net Income CAGR 3Y	·	·	32.9%	·	·	·	·	·	·
Net Income CAGR 5Y	8.2%	·	·	·	·	·	·	·	·
Dividends Paid CAGR 5Y	2.8%	·	·	·	·	·	·	·	·

Valuation (TTM) 17

Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017
Revenue TTM	$17.74B	$17.22B	$14.78B	$13.73B	$12.08B	$11.44B	$11.81B	$9.14B	·
Net Income TTM	$944M	$2.66B	$1.49B	$-1.23B	$-1.27B	$636M	$928M	$-54M	·
Market Cap	$54.54B	$46.84B	$13.54B	$9.04B	$10.68B	$9.62B	$11.21B	·	·
Enterprise Value	$55.55B	·	$10.05B	$9.24B	·	$9.21B	$11.26B	·	·
P/E	74.0	19.7	10.8	-7.1	-8.5	15.1	12.4	-208.1	·
P/S	3.1	2.7	0.9	0.7	0.9	0.8	0.9	·	·
P/B	10.7	8.4	2.6	1.8	1.3	1.1	1.4	·	·
P / Tangible Book	·	85.2	15.7	25.0	3.0	2.9	·	·	·
P / Cash Flow	13.4	10.3	2.5	18.6	-51.8	2.9	4.1	·	·
P / FCF	41.4	18.8	3.6	-11.1	-8.6	4.6	5.1	·	·
EV / EBITDA	14.3	·	2.4	22.0	·	2.8	3.1	·	·
EV / FCF	42.2	·	2.7	-11.3	·	4.4	5.1	·	·
EV / Revenue	3.1	·	0.7	0.7	·	0.8	1.0	·	·
Dividend Yield	0.56%	0.65%	2.3%	3.3%	2.7%	2.8%	2.2%	·	·
Earnings Yield	1.4%	5.1%	9.3%	-14.1%	-11.8%	6.6%	8.1%	-0.48%	·
Payout Ratio	32.4%	11.5%	21.0%	-24.6%	-22.8%	41.8%	26.2%	·	·
Annual Payout	$306M	$305M	$313M	$302M	$290M	$266M	$243M	$0	·

Income Statement 13

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Revenue	$4.02B	$5.64B	$4.58B	$4.97B	$4.25B	$3.93B	$4.04B	$6.29B	$3.85B	$3.05B	$3.08B	$4.09B	$3.19B	$4.42B	$3.87B	$5.15B
SG&A Expense	$392M	$427M	$460M	$444M	$419M	$391M	$464M	$411M	$375M	$351M	$354M	$357M	$309M	$288M	$298M	$323M
Operating Income	$553M	$1.50B	$474M	$1.04B	$515M	$-120M	$599M	$2.59B	$808M	$86M	$105M	$834M	$591M	$1.13B	$-100M	$894M
Interest Expense	·	·	·	·	·	·	·	$332M	$241M	$170M	·	$143M	$100M	$207M	·	$71M
Other Non-op	$186M	·	·	·	$191M	$-5M	·	·	$59M	$87M	·	·	·	·	·	·
Pretax Income	$427M	$1.21B	$308M	$856M	$403M	$-444M	$451M	$2.39B	$626M	$-2M	$-146M	$671M	$599M	$876M	$-335M	$914M
Income Tax	$122M	$183M	$75M	$204M	$76M	$-176M	$-39M	$555M	$159M	$-20M	$38M	$169M	$123M	$178M	$-88M	$236M
Net Income	$305M	$1.03B	$233M	$652M	$327M	$-268M	$441M	$1.89B	$365M	$-35M	$-184M	$502M	$476M	$699M	$-245M	$668M
EPS (Basic)	$0.77	$2.90	$0.55	$1.78	$0.82	$-0.93	$1.12	$5.36	$0.92	$-0.24	$-0.54	$1.27	$1.18	$1.72	$-0.80	$1.53
EPS (Diluted)	$0.76	$2.87	$0.55	$1.75	$0.81	$-0.93	$1.09	$5.25	$0.90	$-0.24	$-0.55	$1.25	$1.17	$1.71	$-0.78	$1.51
Shares (Basic)	336,846,562	337,823,560	·	338,749,454	339,401,983	339,799,989	·	342,969,916	347,046,021	348,966,197	·	366,570,040	372,956,476	383,631,369	·	413,762,896
Shares (Diluted)	339,230,976	341,856,774	·	345,035,160	345,505,188	339,799,989	·	350,203,692	354,327,393	348,966,197	·	372,149,099	376,794,258	387,553,379	·	417,482,511
EBITDA	$998M	$1.98B	·	$1.50B	$1.06B	$402M	·	$3.05B	$1.25B	$489M	·	$1.21B	$960M	$1.50B	·	$1.28B

Balance Sheet 28

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Cash & Equivalents	$435M	$634M	$785M	$602M	$458M	$561M	$1.19B	$905M	$1.62B	$1.07B	·	$3.17B	$643M	$518M	·	$535M
Receivables	$2.29B	$1.98B	$2.32B	$2.33B	$2.23B	$1.92B	$1.98B	$2.18B	$2.09B	$1.73B	·	$2.02B	$1.68B	$1.46B	·	$1.85B
Inventory	·	·	·	$970M	$965M	$960M	·	$949M	$964M	$976M	·	$685M	$676M	$629M	·	$590M
Prepaid Expense	$832M	$629M	$654M	$647M	$678M	$596M	$523M	$625M	$411M	$439M	·	$355M	$281M	$346M	·	$291M
Current Assets	$10.28B	$9.02B	$9.18B	$8.38B	$8.48B	$8.43B	$8.12B	$8.53B	$9.83B	$9.43B	·	$10.70B	$8.91B	$9.51B	·	$13.14B
PP&E (Net)	$19.94B	$19.88B	$19.85B	$17.73B	$17.74B	$17.72B	$18.17B	$18.39B	$18.21B	$18.01B	·	$12.35B	$12.54B	$12.61B	·	$12.55B
PP&E (Gross)	·	·	·	·	·	·	·	$23.29B	$23.36B	$22.93B	·	$17.86B	$17.84B	$17.39B	·	$17.51B
Accum. Depreciation	$9.98B	$9.69B	$9.27B	$8.92B	$8.54B	$8.41B	$8.02B	$7.58B	$7.34B	$6.96B	·	$6.38B	$6.16B	$6.02B	·	$5.68B
Goodwill	$2.81B	$2.81B	$2.81B	$2.81B	$2.81B	$2.81B	$2.81B	$2.80B	$2.92B	$2.88B	·	$2.58B	$2.58B	$2.58B	·	$2.58B
Intangibles	$2.29B	$2.36B	$2.44B	$2.10B	$2.25B	$2.32B	$2.21B	$2.16B	$2.26B	$2.28B	·	$1.88B	$1.91B	$1.94B	·	$2.00B
Other Non-current Assets	$1.40B	$1.58B	$1.54B	$1.38B	$1.50B	$1.69B	$1.19B	$479M	$589M	$578M	·	$527M	$495M	$319M	·	$494M
Total Assets	$42.60B	$41.31B	$41.55B	$38.02B	$38.15B	$38.23B	$37.77B	$37.88B	$39.12B	$38.18B	·	$31.95B	$30.47B	$31.12B	·	$35.17B
Accounts Payable	$1.50B	$1.36B	$1.64B	$1.36B	$1.28B	$1.33B	$1.51B	$1.29B	$1.32B	$1.10B	·	$1.12B	$1.08B	$1.00B	·	$1.40B
Short-term Debt	$0	$0	$1.80B	·	$861M	$1.35B	$0	·	$0	$500M	·	$0	$0	$0	·	$0
Current Liabilities	$10.56B	$10.06B	$11.81B	$8.43B	$9.43B	$9.75B	$8.43B	$7.66B	$10.06B	$8.78B	·	$8.75B	$7.63B	$8.16B	·	$11.91B
Capital Leases	·	·	$92M	$72M	$72M	$81M	$98M	$99M	$63M	$56M	·	$49M	$49M	$45M	·	$33M
Deferred Tax	$1.27B	$1.20B	$1.05B	$765M	$569M	$512M	$697M	$839M	$250M	$118M	·	$1M	$1M	$1M	·	·
Other Non-current Liabilities	$1.59B	$1.43B	$1.53B	$1.45B	$1.33B	$1.23B	$1.27B	$1.19B	$1.11B	$1.10B	·	$867M	$970M	$1.08B	·	$1.12B
Total Liabilities	$37.11B	$35.70B	$36.44B	$32.80B	$33.31B	$33.39B	$32.19B	$29.23B	$31.82B	$30.89B	·	$26.42B	$25.10B	$25.90B	·	$29.57B
Long-term Debt	$19.59B	$19.16B	$17.04B	$15.99B	$15.77B	$16.30B	$16.30B	$14.73B	$15.89B	·	·	·	·	·	·	·
Total Debt	$0	$0	·	·	$861M	$1.35B	·	·	$0	$500M	·	$0	$0	$0	·	$0
Common Stock	$5M	$5M	$5M	$5M	$5M	$5M	$5M	$5M	$5M	$5M	·	$5M	$5M	$5M	·	$5M
Retained Earnings	$1.08B	$903M	$-12M	$-107M	$-642M	$-835M	$-454M	$-759M	$-2.53B	$-2.76B	·	$-2.31B	$-2.70B	$-3.06B	·	$-3.28B
Treasury Stock	$7.63B	$7.30B	$6.92B	$6.67B	$6.49B	$6.25B	$5.91B	$5.68B	$5.28B	$4.95B	·	$4.28B	$3.96B	$3.71B	·	$3.05B
AOCI	$16M	$17M	$17M	$20M	$19M	$20M	$20M	$7M	$6M	$6M	·	$10M	$12M	$8M	·	$-10M
Stockholders' Equity	$5.48B	$5.60B	$5.10B	$5.21B	$4.82B	$4.83B	$5.57B	$5.44B	$5.59B	$5.66B	·	$5.51B	$5.36B	$5.20B	·	$5.58B
Liabilities + Equity	$42.60B	$41.31B	$41.55B	$38.02B	$38.15B	$38.23B	$37.77B	$37.88B	$39.12B	$38.18B	·	$31.95B	$30.47B	$31.12B	·	$35.17B
Shares Outstanding	335,961,328	338,079,954	338,059,635	338,679,644	339,121,861	340,048,488	339,754,307	340,717,442	345,293,460	348,733,986	·	362,113,659	369,625,544	378,648,599	·	405,444,072

Cash Flow 15

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
D&A	$445M	$484M	$463M	$460M	$541M	$522M	$537M	$466M	$437M	$403M	$392M	$375M	$369M	$366M	$382M	$390M
Stock-based Comp	$35M	$32M	$31M	$36M	$25M	$21M	$24M	$23M	$32M	$21M	$14M	$20M	$21M	$22M	$15M	$14M
Other Non-cash	·	$-346M	·	·	·	$324M	·	·	·	$-77M	·	·	·	$348M	·	·
Operating Cash Flow	$1.02B	$1.20B	$1.43B	$1.47B	$572M	$599M	$1.35B	$1.70B	$1.20B	$312M	$881M	$1.56B	$1.58B	$1.44B	$393M	$815M
CapEx	$689M	$883M	$836M	$458M	$690M	$768M	$430M	$685M	$498M	$465M	$414M	$336M	$442M	$484M	$392M	$296M
Investing Cash Flow	$-641M	$-638M	$-2.23B	$-491M	$-610M	$-1.06B	$-317M	$-762M	$-669M	$-3.53B	$-763M	$-415M	$-454M	$-513M	$-353M	$-277M
Net Debt Issued	·	$-115M	·	·	·	$-6M	·	·	·	$-756M	·	·	·	$-7M	·	·
Stock Repurchased	$337M	$372M	$252M	$187M	$252M	$337M	$245M	$399M	$331M	$291M	$379M	$314M	$251M	$301M	$359M	$396M
Net Stock Activity	·	$-372M	·	·	·	$-337M	·	·	·	$-291M	·	·	·	$-301M	·	·
Dividends Paid	$77M	$77M	$77M	$77M	$69M	$83M	$75M	$80M	$73M	$77M	$85M	$75M	$76M	$77M	$75M	$75M
Financing Cash Flow	$-578M	$-706M	$986M	$-833M	$-63M	$-164M	$-754M	$-1.66B	$18M	$793M	$196M	$1.38B	$-998M	$-874M	$-83M	$-1.88B
Net Change in Cash	$-196M	$-145M	$184M	$143M	$-101M	$-626M	$282M	$-721M	$545M	$-2.42B	$314M	$2.53B	$125M	$48M	·	·
Taxes Paid	·	·	·	·	·	·	·	·	·	·	·	·	·	·	·	$9M
Free Cash Flow	·	$316M	·	·	·	$-169M	·	·	·	$-153M	·	·	·	$951M	·	·
Levered FCF	·	·	·	·	·	·	·	·	·	$1.38B	·	·	·	$786M	·	·

Profitability 7

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Operating Margin	13.8%	26.6%	·	20.9%	12.1%	-3.0%	·	41.2%	21.0%	2.8%	·	20.4%	18.5%	25.6%	·	17.4%
Net Margin	7.6%	18.2%	·	13.1%	7.7%	-6.8%	·	30.0%	9.5%	-1.1%	·	12.3%	14.9%	15.8%	·	13.0%
Pretax Margin	10.6%	21.5%	·	17.2%	9.5%	-11.3%	·	38.0%	16.3%	-0.07%	·	16.4%	18.8%	19.8%	·	17.8%
EBITDA Margin	24.8%	35.2%	·	30.1%	24.9%	10.2%	·	48.6%	32.4%	16.0%	·	29.6%	30.1%	33.8%	·	24.9%
ROA	0.76%	2.6%	·	1.7%	0.85%	-0.70%	·	5.4%	1.1%	-0.10%	·	1.5%	1.4%	2.2%	·	2.1%
ROE	5.9%	19.8%	·	12.2%	6.3%	-5.1%	·	34.5%	6.7%	-0.64%	·	9.0%	8.8%	11.2%	·	11.5%
ROIC	7.2%	22.7%	·	15.2%	7.3%	-1.2%	·	36.5%	10.8%	-12.6%	·	11.3%	8.8%	17.3%	·	11.9%

Liquidity & Solvency 4

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Current Ratio	1.0	0.9	·	1.0	0.9	0.9	·	1.1	1.0	1.1	·	1.2	1.2	1.2	·	1.1
Quick Ratio	0.3	0.3	·	0.3	0.3	0.3	·	0.4	0.4	0.3	·	0.6	0.3	0.2	·	0.2
Debt / Equity	0.0	0.0	·	·	0.2	0.3	·	·	0.0	0.1	·	0.0	0.0	0.0	·	0.0
Interest Coverage	·	·	·	·	·	·	·	7.8	3.4	0.5	·	5.8	5.9	5.5	·	12.6

Efficiency 2

Metric	Trend	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Asset Turnover		0.1	0.1	·	0.1	0.1	0.1	·	0.2	0.1	0.1	·	0.1	0.1	0.1	·	0.2
Receivables Turnover		1.8	2.9	·	2.2	2.0	2.2	·	3.0	2.0	1.9	·	2.1	1.8	3.2	·	3.0

Per Share 6

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Book Value / Share	$16.32	$16.56	·	$15.38	$14.22	$14.19	·	$15.97	$16.20	$16.22	·	$15.21	$14.50	$13.74	·	$13.77
Revenue / Share	$11.84	$16.50	·	$14.41	$12.30	$11.57	·	$17.96	$10.85	$8.75	·	$10.98	$8.46	$11.42	·	$12.33
Cash Flow / Share	·	$3.51	·	·	·	$1.76	·	·	·	$0.89	·	·	·	$3.70	·	·
Cash / Share	$1.29	$1.88	·	$1.78	$1.35	$1.65	·	$2.66	$4.70	$3.07	·	$8.75	$1.74	$1.37	·	$1.32
Dividend Paid / Share	$0.23	$0.23	$0.23	$0.23	$0.23	$0.22	$0.22	$0.22	$0.22	$0.21	·	·	·	·	·	·
EPS (TTM)	$5.93	$5.98	·	$2.72	$6.22	$6.31	·	$5.36	$1.36	$1.63	·	$3.35	$3.61	$-0.83	·	$-1.04

Valuation (TTM) 14

Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Revenue TTM	$19.21B	$19.45B	·	$17.19B	$18.51B	$18.10B	·	$16.27B	$14.06B	$13.41B	·	$15.57B	$16.63B	$15.03B	·	$13.17B
Net Income TTM	$2.22B	$2.24B	·	$1.15B	$2.39B	$2.43B	·	$2.03B	$648M	$759M	·	$1.43B	$1.60B	$-243M	·	$-256M
Market Cap	$53.29B	$50.82B	·	$66.35B	$65.73B	$39.94B	·	$40.39B	$29.69B	$24.29B	·	$12.01B	$9.70B	$9.09B	·	$8.51B
Enterprise Value	$52.86B	$50.19B	·	·	$66.13B	$40.73B	·	·	$28.06B	$23.72B	·	$8.84B	$9.06B	$8.57B	·	$7.98B
P/E	26.8	25.1	·	72.0	31.2	18.6	·	22.1	63.2	42.7	·	9.9	7.3	-28.9	·	-20.2
P/S	2.8	2.6	·	3.9	3.6	2.2	·	2.5	2.1	1.8	·	0.8	0.6	0.6	·	0.6
P/B	9.7	9.1	·	12.7	13.6	8.3	·	7.4	5.3	4.3	·	2.2	1.8	1.7	·	1.5
P / Tangible Book	138.1	119.9	·	219.0	·	·	·	83.8	72.8	48.5	·	11.6	11.2	13.4	·	8.5
P / Cash Flow	·	42.4	·	·	·	66.7	·	·	·	77.9	·	·	·	6.3	·	·
EV / Revenue	2.8	2.6	·	·	3.6	2.2	·	·	2.0	1.8	·	0.6	0.5	0.6	·	0.6
Dividend Yield	0.58%	0.59%	·	0.46%	0.47%	0.78%	·	0.78%	1.0%	1.3%	·	2.5%	3.1%	3.3%	·	3.5%
Earnings Yield	3.7%	4.0%	·	1.4%	3.2%	5.4%	·	4.5%	1.6%	2.3%	·	10.1%	13.8%	-3.5%	·	-5.0%
Payout Ratio	·	7.5%	·	·	·	-31.0%	·	·	·	-220.0%	·	·	·	11.0%	·	·
Annual Payout	$308M	$300M	·	$304M	$307M	$311M	·	$315M	$310M	$313M	·	$303M	$303M	$302M	·	$298M

Most recent period on the left · null values shown as ·

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

16

Metric	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Revenue	$17.74B	$17.22B	$14.78B	$13.73B	$12.08B
Operating Margin %	10.8%	23.7%	18.0%	-8.6%	-12.5%
Net Income	$944M	$2.66B	$1.49B	$-1.23B	$-1.27B
Diluted EPS	$2.18	$7.00	$3.58	$-3.26	$-2.69

Metric	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Debt / Equity	0.4	·	0.0	0.1	·
Current Ratio	0.8	1.0	1.2	1.1	1.3
Quick Ratio	0.3	0.4	0.5	0.2	0.5

Metric	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Free Cash Flow	$1.32B	$2.48B	$3.78B	$-816M	$-1.24B

Institutional owners (13F) 1,552 filers · $56.6B total · As of Sept. 30, 2026

17

Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.

Holders 1,552

Value held $56.6B

New positions 227

Exited positions 117

Institutional activity — Q2 2026 vs prior quarter

New positions	Exited positions	Increased	Decreased	Net shares change
227 (+7 vs prior Q)	117 (-60 vs prior Q)	642 (+54 vs prior Q)	442 (+16 vs prior Q)	+18.0M

Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.

Institution	Value	Shares	% of tracked 13F	Type
VANGUARD GROUP INC	$6,709,518,522	41,588,784	11.85%	Shares
BlackRock, Inc.	$4,610,496,070	29,064,465	8.14%	Shares
VANGUARD CAPITAL MANAGEMENT LLC	$3,393,707,695	21,393,858	5.99%	Shares
VANGUARD PORTFOLIO MANAGEMENT LLC	$2,687,079,732	16,939,291	4.75%	Shares
STATE STREET CORP	$2,672,987,201	16,850,452	4.72%	Shares
FMR LLC	$2,246,232,950	14,160,202	3.97%	Shares
GEODE CAPITAL MANAGEMENT, LLC	$1,428,133,983	9,037,395	2.52%	Shares
MORGAN STANLEY	$1,408,750,721	8,880,730	2.49%	Shares
JANE STREET GROUP, LLC	$1,279,493,717	8,065,900	2.26%	Put option
NORGES BANK	$921,830,815	5,811,201	1.63%	Shares
UBS Group AG	$856,364,214	5,398,501	1.51%	Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP	$816,119,624	5,144,800	1.44%	Call option
GOLDMAN SACHS GROUP INC	$752,274,871	4,742,324	1.33%	Shares
Invesco Ltd.	$589,125,655	3,713,835	1.04%	Shares
DIMENSIONAL FUND ADVISORS LP	$562,659,440	3,546,461	0.99%	Shares
JPMORGAN CHASE & CO	$528,203,119	3,252,881	0.93%	Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP	$509,027,807	3,208,900	0.90%	Put option
MASSACHUSETTS FINANCIAL SERVICES CO /MA/	$501,627,486	3,160,826	0.89%	Shares
NORTHERN TRUST CORP	$479,387,316	3,022,047	0.85%	Shares
BANK OF AMERICA CORP /DE/	$468,354,415	2,952,496	0.83%	Shares
FRANKLIN RESOURCES INC	$426,060,253	2,685,874	0.75%	Shares
Capital World Investors	$408,354,864	2,574,260	0.72%	Shares
JANE STREET GROUP, LLC	$397,399,876	2,505,200	0.70%	Call option
CITADEL ADVISORS LLC	$390,880,183	2,464,100	0.69%	Call option
CANADA PENSION PLAN INVESTMENT BOARD	$388,615,581	2,449,824	0.69%	Shares
Bank of New York Mellon Corp	$381,937,694	2,407,727	0.67%	Shares
Clearbridge Investments, LLC	$366,941,306	2,313,189	0.65%	Shares
APPALOOSA LP	$351,408,597	2,215,272	0.62%	Shares
CITADEL ADVISORS LLC	$337,421,873	2,127,100	0.60%	Put option
CHARLES SCHWAB INVESTMENT MANAGEMENT INC	$334,350,479	2,107,738	0.59%	Shares
REAVES W H & CO INC	$328,509,723	2,070,918	0.58%	Shares
Nuveen, LLC	$311,121,449	1,961,303	0.55%	Shares
ALKEON CAPITAL MANAGEMENT LLC	$308,750,611	1,946,357	0.55%	Shares
NEUBERGER BERMAN GROUP LLC	$295,877,834	1,864,591	0.52%	Shares
VANGUARD FIDUCIARY TRUST CO	$292,255,946	1,842,375	0.52%	Shares
JENNISON ASSOCIATES LLC	$287,574,445	1,812,863	0.51%	Shares
Rubric Capital Management LP	$284,733,394	1,794,953	0.50%	Shares
GOLDMAN SACHS GROUP INC	$283,868,385	1,789,500	0.50%	Put option
Legal & General Group Plc	$267,461,765	1,686,073	0.47%	Shares
JANUS HENDERSON GROUP PLC	$254,247,808	1,691,315	0.45%	Shares
ROYAL BANK OF CANADA	$247,139,000	1,557,951	0.44%	Shares
Forest Avenue Capital Management LP	$243,382,995	1,534,281	0.43%	Shares
RAYMOND JAMES FINANCIAL INC	$237,596,362	1,497,802	0.42%	Shares
UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC	$235,965,937	1,569,653	0.42%	Shares
Pictet Asset Management Holding SA	$235,261,615	1,483,084	0.42%	Shares
Point72 Asset Management, L.P.	$234,528,903	1,478,465	0.41%	Shares
WELLINGTON MANAGEMENT GROUP LLP	$222,228,574	1,400,924	0.39%	Shares
Merewether Investment Management, LP	$200,736,430	1,265,438	0.35%	Shares
VOYA INVESTMENT MANAGEMENT LLC	$195,490,208	1,232,364	0.35%	Shares
NOMURA HOLDINGS INC	$193,798,271	1,221,700	0.34%	Call option

Show all 1,552 institutional owners →

Company insiders 27 insiders · 13 officers · 15 directors

19

Insider	Role	Last activity	Shares owned	Buys 12m	Sells 12m	Net 12m
James A Burke	President and CEO	Sept. 1, 2026 P	1,146,352	3	29	$-88,691,482
Curtis A Morgan	CEO	May 24, 2022 M	350,293	0	0	$0
Kristopher E. Moldovan	EVP and CFO	Sept. 8, 2026 S	199,044	0	1	$-3,020,600
David A Campbell	EVP & Chief Financial Officer	June 5, 2020 F	127,384	0	0	$0
William J Holden III	EVP and CFO	May 8, 2019 S	109,311	0	0	$0
Scott A Hudson	EVP & President Vistra Retail	Sept. 8, 2026 S	331,137	0	4	$-16,203,705
Margaret Montemayor	SVP, Chief Accounting Officer	June 2, 2026 S	9,760	0	2	$-1,560,800
Stephanie Zapata Moore	EVP and General Counsel	March 9, 2026 S	114,409	0	2	$-3,027,864
Stacey H Dore	EVP & Chief Strategy Officer	March 5, 2026 F	184,183	0	0	$0
Carrie Lee Kirby	EVP and Chief Admin. Officer	Feb. 24, 2026 F	262,819	0	1	$-10,183,556
Stephen J Muscato	EVP, Pres Wholesale Ops & Dev	Nov. 22, 2024 M	318,287	0	0	$0
Elizabeth Christine Dobry	SVP and Controller	March 8, 2023 A	48,967	0	0	$0
Sara Graziano	SVP Corp. Dev. and Strategy	April 3, 2019 A	56,574	0	0	$0
Arcilia Acosta	Director	June 18, 2026 S	32,607	0	2	$-2,512,800
John R Sult	Director	June 18, 2026 S	70,714	0	1	$-1,105,000
Scott B Helm	Director	June 16, 2026 S	232,200	0	1	$-4,000,000
Paul M Barbas	Director	June 15, 2026 S	53,006	0	2	$-73,427
Robert Charles Walters	Director	May 15, 2026 A	2,431	0	0	$0
John William Pitesa	Director	May 15, 2026 A	5,898	0	0	$0
Julie A. Lagacy	Director	May 15, 2026 A	21,321	0	0	$0
Gavin R. Baiera	Director	May 15, 2026 A	51,641	0	0	$0
Lisa Crutchfield	Director	May 15, 2026 A	34,618	0	0	$0
Hilary E. Ackermann	Director	May 15, 2026 A	68,852	0	0	$0
Jeff D Hunter	Director	May 3, 2023 A	64,585	0	0	$0
Brian K Ferraioli	Director	May 3, 2023 A	54,101	0	0	$0
Bruce Zimmerman	Director	June 7, 2019 P	15,374	0	0	$0
Terry L Nutt	·	Nov. 7, 2017 S	24,518	0	0	$0

Insiders from SEC Form 3/4/5 filings; net = open-market P/S only

ETF ownership Held by 125 ETFs

20

Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.

Fund	Weight	Units	As of	Source
UTES · ETFis Series Trust I	9.96%	882,763 NS	July 31, 2026	N-PORT
ZAP · Global X Funds	3.74%	116,382 NS	July 31, 2026	N-PORT
VPU · VANGUARD WORLD FUND	3.42%	2,317,700 SH	Aug. 19, 2026	Daily
SOVF · Elevation Series Trust	3.27%	19,280 NS	July 31, 2026	N-PORT
FUTY · FIDELITY COVINGTON TRUST	3.27%	512,483 NS	July 31, 2026	N-PORT
RSPU · Invesco Exchange-Traded Fund Trust	3.18%	108,080 SH	Oct. 1, 2026	Daily
IDU · iShares Trust	3.17%	278,775 SH	Sept. 11, 2026	Daily
NEWZ · EA Series Trust	3.06%	4,027 NS	July 31, 2026	N-PORT
UTSL · Direxion Shares ETF Trust	2.63%	6,725 NS	July 31, 2026	N-PORT
FPWR · First Trust Exchange-Traded Fund IV	2.38%	4,754 NS	July 31, 2026	N-PORT
PUI · Invesco Exchange-Traded Fund Trust	2.38%	8,188 SH	Oct. 1, 2026	Daily
JXI · iShares Trust	2.14%	43,641 SH	Sept. 11, 2026	Daily
POWR · iShares, Inc.	1.88%	58,166 SH	Sept. 11, 2026	Daily
BKGI · BNY Mellon ETF Trust	1.87%	165,190 NS	July 31, 2026	N-PORT
SMRI · EA Series Trust	1.66%	72,359 NS	July 31, 2026	N-PORT
SPDV · ETF Series Solutions	1.66%	14,704 NS	July 31, 2026	N-PORT
IWP · iShares Trust	1.45%	1,896,330 SH	Sept. 11, 2026	Daily
IGF · iShares Trust	1.35%	951,559 SH	Sept. 11, 2026	Daily
EIPX · First Trust Exchange-Traded Fund IV	1.29%	48,908 NS	July 31, 2026	N-PORT
ELCV · Strategy Shares	1.24%	21,034 NS	July 31, 2026	N-PORT
VOT · VANGUARD INDEX FUNDS	1.17%	2,583,243 SH	Aug. 19, 2026	Daily
SRHQ · Elevation Series Trust	1.09%	15,540 NS	July 31, 2026	N-PORT
EMLP · First Trust Exchange-Traded Fund IV	1.06%	295,854 NS	July 31, 2026	N-PORT
JMID · Janus Detroit Street Trust	0.98%	1,557 NS	July 31, 2026	N-PORT
RPG · Invesco Exchange-Traded Fund Trust	0.89%	123,955 SH	Oct. 1, 2026	Daily
ALTL · Pacer Funds Trust	0.84%	5,203 NS	July 31, 2026	N-PORT
TEXN · iShares Trust	0.82%	1,050 SH	Sept. 11, 2026	Daily
SPHB · Invesco Exchange-Traded Fund Trust …	0.77%	52,749 SH	Oct. 1, 2026	Daily
IMCG · iShares Trust	0.69%	186,921 SH	Sept. 11, 2026	Daily
TRFM · ETF Series Solutions	0.68%	11,428 NS	July 31, 2026	N-PORT
NFRA · FlexShares Trust	0.65%	131,703 NS	July 31, 2026	N-PORT
DUHP · Dimensional ETF Trust	0.65%	534,798 NS	July 31, 2026	N-PORT
NEAR · iShares U.S. ETF Trust	0.62%	32,611,000 SH	Sept. 11, 2026	Daily
HIBL · Direxion Shares ETF Trust	0.57%	2,875 NS	July 31, 2026	N-PORT
VO · VANGUARD INDEX FUNDS	0.52%	7,307,158 SH	Aug. 19, 2026	Daily
PALC · Pacer Funds Trust	0.47%	6,642 NS	July 31, 2026	N-PORT
GARP · iShares Trust	0.42%	87,655 SH	Sept. 11, 2026	Daily
VRP · Invesco Exchange-Traded Fund Trust …	0.38%	11,213,000	Oct. 1, 2026	Daily
IWR · iShares Trust	0.36%	1,378,604 SH	Sept. 11, 2026	Daily
JPME · J.P. Morgan Exchange-Traded Fund Tr…	0.36%	11,262 NS	July 31, 2026	N-PORT
IMCB · iShares Trust	0.35%	39,541 SH	Sept. 11, 2026	Daily
JPUS · J.P. Morgan Exchange-Traded Fund Tr…	0.35%	10,657 NS	July 31, 2026	N-PORT
FFLV · FIDELITY COVINGTON TRUST	0.30%	328 NS	July 31, 2026	N-PORT
XOEF · iShares Trust	0.26%	400 SH	Sept. 11, 2026	Daily
DFVX · Dimensional ETF Trust	0.25%	9,040 NS	July 31, 2026	N-PORT
ESLG · Strategy Shares	0.24%	372 NS	July 31, 2026	N-PORT
FQAL · FIDELITY COVINGTON TRUST	0.22%	21,319 NS	July 31, 2026	N-PORT
EUSA · iShares, Inc.	0.21%	27,342 SH	Sept. 11, 2026	Daily
SIZE · iShares Trust	0.21%	5,967 SH	Sept. 11, 2026	Daily
LRGF · iShares Trust	0.20%	50,753 SH	Sept. 11, 2026	Daily
VTV · VANGUARD INDEX FUNDS	0.20%	3,203,190 SH	Aug. 19, 2026	Daily
EQAL · Invesco Exchange-Traded Fund Trust …	0.19%	11,044 SH	Oct. 1, 2026	Daily
RSP · Invesco Exchange-Traded Fund Trust	0.19%	1,294,632 SH	Oct. 1, 2026	Daily
DXUV · Dimensional ETF Trust	0.16%	6,029 NS	July 31, 2026	N-PORT
VONG · VANGUARD SCOTTSDALE FUNDS	0.16%	532,814 SH	Aug. 19, 2026	Daily
ILCG · iShares Trust	0.16%	32,891 SH	Sept. 11, 2026	Daily
IWF · iShares Trust	0.15%	1,264,211 SH	Sept. 11, 2026	Daily
VOOG · VANGUARD ADMIRAL FUNDS	0.14%	235,358 SH	Aug. 19, 2026	Daily
GTOS · Invesco Actively Managed Exchange-T…	0.13%	156,000	Oct. 1, 2026	Daily
IVW · iShares Trust	0.13%	675,946 SH	Sept. 11, 2026	Daily
ESUM · Strategy Shares	0.13%	1,594 NS	July 31, 2026	N-PORT
JQUA · J.P. Morgan Exchange-Traded Fund Tr…	0.13%	70,962 NS	July 31, 2026	N-PORT
IUSG · iShares Trust	0.12%	279,072 SH	Sept. 11, 2026	Daily
EGLE · Global X Funds	0.11%	16 NS	July 31, 2026	N-PORT
DFAC · Dimensional ETF Trust	0.11%	349,581 NS	July 31, 2026	N-PORT
GLOF · iShares Trust	0.10%	1,424 SH	Sept. 11, 2026	Daily
IUS · Invesco Exchange-Traded Self-Indexe…	0.10%	7,081 SH	Oct. 1, 2026	Daily
HEQQ · J.P. Morgan Exchange-Traded Fund Tr…	0.10%	200 NS	July 31, 2026	N-PORT
DCOR · Dimensional ETF Trust	0.10%	21,682 NS	July 31, 2026	N-PORT
ESSC · Strategy Shares	0.10%	232 NS	July 31, 2026	N-PORT
DFAU · Dimensional ETF Trust	0.09%	78,144 NS	July 31, 2026	N-PORT
TOPC · iShares Trust	0.09%	194 SH	Sept. 11, 2026	Daily
RWL · Invesco Exchange-Traded Fund Trust …	0.08%	58,052 SH	Oct. 1, 2026	Daily
QDEF · FlexShares Trust	0.08%	2,952 NS	July 31, 2026	N-PORT
VOO · VANGUARD INDEX FUNDS	0.08%	8,231,959 SH	Aug. 19, 2026	Daily
VV · VANGUARD INDEX FUNDS	0.08%	393,806 SH	Aug. 19, 2026	Daily
VONE · VANGUARD SCOTTSDALE FUNDS	0.08%	55,746 SH	Aug. 19, 2026	Daily
BBUS · J.P. Morgan Exchange-Traded Fund Tr…	0.08%	46,564 NS	July 31, 2026	N-PORT
XRMI · Global X Funds	0.08%	261 NS	July 31, 2026	N-PORT
VOTE · TCW ETF Trust	0.08%	5,713 NS	July 31, 2026	N-PORT
VOXP · Advisors Series Trust	0.08%	30 NS	July 31, 2026	N-PORT
XYLD · Global X Funds	0.08%	16,542 NS	July 31, 2026	N-PORT
XYLG · Global X Funds	0.08%	327 NS	July 31, 2026	N-PORT
JOYT · J.P. Morgan Exchange-Traded Fund Tr…	0.08%	496 NS	July 31, 2026	N-PORT
BKLC · BNY Mellon ETF Trust	0.08%	27,683 NS	July 31, 2026	N-PORT
XCLR · Global X Funds	0.07%	18 NS	July 31, 2026	N-PORT
ILCB · iShares Trust	0.07%	6,529 SH	Sept. 11, 2026	Daily
DFUS · Dimensional ETF Trust	0.07%	103,316 NS	July 31, 2026	N-PORT
CATH · Global X Funds	0.07%	6,431 NS	July 31, 2026	N-PORT
PTLC · Pacer Funds Trust	0.07%	16,112 NS	July 31, 2026	N-PORT
CHRI · Global X Funds	0.07%	39 NS	July 31, 2026	N-PORT
IVV · iShares Trust	0.07%	3,995,135 SH	Sept. 11, 2026	Daily
XTR · Global X Funds	0.07%	23 NS	July 31, 2026	N-PORT
PBUS · Invesco Exchange-Traded Fund Trust …	0.07%	58,216 SH	Oct. 1, 2026	Daily
IWB · iShares Trust	0.07%	232,195 SH	Sept. 11, 2026	Daily
USCL · iShares Trust	0.07%	13,461 SH	Sept. 11, 2026	Daily
VTI · VANGUARD INDEX FUNDS	0.07%	10,706,582 SH	Aug. 19, 2026	Daily
VTHR · VANGUARD SCOTTSDALE FUNDS	0.07%	28,338 SH	Aug. 19, 2026	Daily
TOV · EA Series Trust	0.07%	1,279 NS	July 31, 2026	N-PORT
IWV · iShares Trust	0.07%	93,405 SH	Sept. 11, 2026	Daily
PBP · Invesco Exchange-Traded Fund Trust	0.07%	1,880 SH	Oct. 1, 2026	Daily
SPUU · Direxion Shares ETF Trust	0.07%	1,196 NS	July 31, 2026	N-PORT
DGRO · iShares Trust	0.07%	195,377 SH	Sept. 11, 2026	Daily
IYY · iShares Trust	0.07%	13,593 SH	Sept. 11, 2026	Daily
QDPL · Pacer Funds Trust	0.07%	7,635 NS	July 31, 2026	N-PORT
ITOT · iShares Trust	0.06%	413,039 SH	Sept. 11, 2026	Daily
TOK · iShares Trust	0.06%	953 SH	Sept. 11, 2026	Daily
HCMT · Direxion Shares ETF Trust	0.06%	2,205 NS	July 31, 2026	N-PORT
PHDG · Invesco Actively Managed Exchange-T…	0.06%	250 SH	Oct. 1, 2026	Daily
PRF · Invesco Exchange-Traded Fund Trust	0.06%	39,327 SH	Oct. 1, 2026	Daily
SPXL · Direxion Shares ETF Trust	0.05%	24,779 NS	July 31, 2026	N-PORT
URTH · iShares, Inc.	0.05%	30,357 SH	Sept. 11, 2026	Daily
VT · VANGUARD INTERNATIONAL EQUITY INDEX…	0.05%	282,361 SH	Aug. 19, 2026	Daily
TILT · FlexShares Trust	0.05%	7,268 NS	July 31, 2026	N-PORT
ACWI · iShares Trust	0.05%	108,258 SH	Sept. 11, 2026	Daily
QVML · Invesco Exchange-Traded Fund Trust …	0.05%	5,767 SH	Oct. 1, 2026	Daily
OMFL · Invesco Exchange-Traded Self-Indexe…	0.04%	11,970 SH	Oct. 1, 2026	Daily
GTO · Invesco Actively Managed Exchange-T…	0.03%	1,037,000	Oct. 1, 2026	Daily
LGDX · Tidal Trust III	0.03%	280 NS	July 31, 2026	N-PORT
PWRD · TCW ETF Trust	0.01%	1,035 NS	July 31, 2026	N-PORT
FBCG · FIDELITY COVINGTON TRUST	0.00%	72 NS	July 31, 2026	N-PORT
VUSB · VANGUARD BOND INDEX FUNDS	·	·	July 15, 2026	Daily
VPLS · VANGUARD MALVERN FUNDS	·	·	July 15, 2026	Daily
VGMS · VANGUARD MALVERN FUNDS	·	·	July 15, 2026	Daily
IFRA · iShares Trust	·	408,397 SH	Sept. 11, 2026	Daily

VST Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

21

rating · 24 analysts BUY

Median target $217.00 +55.0%

7 29.2% Strong Buy

15 62.5% Buy

2 8.3% Hold

0 0.0% Sell

0 0.0% Strong Sell

12-Month Price Target

19 analysts · 2026-10-01

Mean target $212.79 +52.0%

Now Current price $140.02

Low$106.00 Mean$212.79 High$305.00

Peer comparison (GICS sub-industry) Key metrics vs sector peers

22

FY basis, prices as of each company's last fiscal year-end close.

Ticker	Market Cap	P/E	Rev YoY	Net Margin	ROE	Gross Margin
VST	$54.54B	74.0	3.0%	5.3%	17.7%	·
TLN	$17.13B	-78.3	22.0%	-8.5%	-17.7%	·
AES	$10.21B	11.4	-0.37%	7.4%	23.6%	18.1%
HNRG	$834M	19.8	16.2%	8.9%	29.7%	·
FISN	·	·	·	·	-234.2%	·

Latest News Recent headlines mentioning this company

23

This Power Stock Could Be a Big Winner From the Data Center Boom Nasdaq · 1 month, 3 weeks ago This Utility Stock Could Benefit From the AI Power Bottleneck Nasdaq · 2 months, 2 weeks ago The Nuclear Power Comeback Is Real -- and These 3 Stocks Are the Best Way to Play It Nasdaq · 3 months, 1 week ago Is Vistra (VST) One Of The Top 10 Lowest Forward P/E Stocks In The S&P 500? Yahoo Finance · 3 months, 3 weeks ago Is Vistra Corp. (VST) A Good Stock To Buy Now? Yahoo Finance · 3 months, 3 weeks ago My Top 3 Recession-Proof Utilities Stocks for May 2026 Nasdaq · 4 months, 1 week ago Is Vistra (VST) the Best Utility Stock that Beat Earnings Estimates? Yahoo Finance · 4 months, 3 weeks ago Vistra (VST): The Best Power Generation Stock To Buy For Data Center Demand Yahoo Finance · 4 months, 3 weeks ago Notable Monday Option Activity: VST, INDI, UHS Nasdaq · 5 months ago Vistra Corp. (VST): One of the Best Stocks to Buy According to Nancy Pelosi? Yahoo Finance · 5 months, 1 week ago

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26

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VST Vistra Corp. Common Stock