Vistra Q4 FY25: where the revenue came from and where it went

The whole income statement of Vistra for this quarter, as one diagram: what earned the revenue, and what it went on.

Period: Oct 1 – Dec 31, 2025
Reported: Feb 27, 2026 10-K accession 0001692819-26-000006

Revenue$4.58B +14% year over year

Gross profit$0.93B 20% margin

Operating profit$0.47B 10% margin

Net profit$0.23B 5% margin

The numbers

All figures in billions of U.S. dollars, for Q4 FY25 (period ends Dec 31, 2025).
Item	Value	Share of revenue	Year over year
Revenue	4.58	100%	+14%
ERCOT	2.08	45%
Northeast Midwest	1.17	26%
Wholesale generation revenue	1.16	25%
Capacity	0.10	2%
Transferable production tax	0.08	2%
Intangible amortization	<0.01	0%
Cost of revenue	−3.65	80%
Gross profit	0.93	20% margin	−6pp
SG&A	−0.46	10%	−1pp
Operating profit	0.47	10% margin	−4pp
Interest & other costs	−0.17
Tax	−0.08
Net profit	0.23	5% margin	−6pp

Figures are rounded to the precision shown, so a column can differ slightly from its own total.

Source of the numbers: structured XBRL data from the filing (10-K). The diagram is generated automatically and checked against EDGAR before release. The fourth quarter has no column of its own in an annual report, so it is the full year minus the first nine months. How we calculate it → About and methodology.

Filing on EDGAR More quarters of VST

Vistra Q4 FY25: where the revenue came from and where it went

The numbers

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