VST at a glance
Vistra Corp. (VST, SEC CIK 1692819) filed its latest 10-K annual report on February 27, 2026, a 10-Q quarterly report on August 10, 2026, an 8-K current report on October 5, 2026 and Form 4 insider filings as recently as September 10, 2026. SignalX summarizes each filing with AI and tracks the company's insider trades and institutional holders.
- For the fiscal year ended December 31, 2025 (FY2025), Vistra Corp. (VST) reported revenue of $17.6 billion (up 19.1% from FY2024) and net income of $944.0 million. Diluted EPS was $2.18.
- As of June 30, 2026, 49 institutional investment managers tracked by SignalX reported holding Vistra Corp. (VST) shares worth $23.1 billion in 13F-HR filings.
- The most recent insider open-market sale reported on Form 4 was by HUDSON SCOTT A on September 8, 2026 of 7,777 shares at $150.97 per share.
- In the last 90 days, VST insiders reported 3 open-market purchases ($1.2M) and 4 open-market sales ($9.8M) on Form 4, a net sale of $8.6M.
Source: SEC EDGAR (XBRL financial data, 13F-HR and Form 4 filings).
- Revenue · FY2025
- $17.6B
- +19.1% vs prior year
- Insiders · 90 days
- 3 buys · 4 sells
- Net −$8.6M
- 13F holders
- 49 funds
- $23.1B · +2 vs prior quarter
- Latest 8-K
- Sep 24, 2026
- Item 8.01 · Item 1.01
AI 10-K Annual Report Analysis
Latest 10-K, fiscal year ended Dec 31, 2025
Risk Factors
- Total debt ~$20.7B ($19.9B net of cash) at Dec 31, 2025; variable-rate Vistra Operations Credit Facilities partially unhedged, exposing to rate spikes
- One Big Beautiful Bill Act (OBBBA, July 4 2025) accelerates phase-out of solar/wind tax credits, directly threatening Vistra Zero renewables portfolio economics
- Nuclear fuel supply exposed to trade restrictions (tariffs, embargoes) amid Russia-Ukraine conflict; uprate obligations under executed customer agreements add execution risk
- AI data center load growth in ERCOT/Permian Basin key to growth thesis; demand disappointment or more energy-efficient AI could derail long-term offtake strategy
- Cogentrix acquisition termination fees up to ~$150M combined ($77.8M + $72.2M) if HSR or other closing conditions not met by Dec 31, 2026
Business Overview
- Integrated retail + generation model (~44,000 MW capacity, ~5M customers across 18 states + D.C.) with commodity risk management linking wholesale and retail
- 2025 acquisition of 2,557 MW natural gas facilities across PJM, ISO-NE, NYISO, and CAISO; January 2026 announcement of 433 MW nuclear uprates at Perry, Davis-Besse, and Beaver Valley
- Strategic pivot toward large load offtake agreements (data centers/co-location) as explicit earnings underwriter; FERC December 2025 ruling on PJM co-location rules removes key regulatory barrier
- ~6,390 full-time employees as of December 31, 2025; carbon intensity improved from 0.48 to 0.47 short tons CO₂/MWh YoY; ~102 million short tons CO₂ emitted in 2025
- ERCOT implemented real-time co-optimization in December 2025, replacing the ORDC with individual ancillary service demand curves: structurally changes scarcity pricing mechanics for Vistra's largest market (46% of capacity)
Management Discussion & Analysis
- Revenue $17.74B in 2025 vs $17.22B in 2024, up ~$514M YoY; driven by higher retail rates, weather, and full-year Energy Harbor, offset by $1.8B unrealized mark-to-market losses
- Net income fell $1.868B YoY to $944M; Adjusted EBITDA rose $299M to $5.838B; operating margin 10.7% vs 23.7% (GAAP, dragged by unrealized hedging losses and $228M impairments)
- Best segment: East Adjusted EBITDA $2.282B (+$265M YoY); worst: West, hit by Moss Landing fire, $400M write-off plus $155M impairment on 100MW battery
- Operating cash flow $4.07B vs $4.56B; capex ~$2.587B guided for 2026; buybacks $1.0B (6.6M shares); dividends $306M to common stockholders
- Key risks: Cogentrix acquisition (~$2.3B cash + $1.5B assumed debt) closing mid-to-late 2026; Moss Landing remediation ~$110M; Russian uranium supply disruption; nuclear PTC regulatory interpretation uncertainty
AI summary of the VST 10-K filed . Generated from the filing text; verify against the original.View on SEC EDGARHow to read a 10-K
AI 10-Q Quarterly Report Analysis
Latest 10-Q, quarter ended Jun 30, 2026
Management Discussion & Analysis
- No profitability, margin, or earnings figures provided
- Forward-looking statements not updated for subsequent events or emerging conditions
Risk Factors
- Risk factors unchanged from 2025 Form 10-K; filing references previously disclosed risks
- Mine-safety compliance exposure across 12 Texas lignite mines and two Pennsylvania waste-to-energy facilities
- MSHA citations or orders could impose proposed fines or assessments under the Mine Act
- Debt-agreement compliance constrains repurchases, with $1,290 million remaining under the share-repurchase program
AI summary of the VST 10-Q filed . Generated from the filing text; verify against the original.View on SEC EDGAR10-K vs 10-Q vs 8-K
AI 8-K Current Report Analysis
The most recent material events, by 8-K item
Item 8.01: Other Events
- Vistra completed a securities offering under a September 10, 2026 underwriting agreement
- Barclays, BofA Securities, Mizuho, MUFG and Truist represented the underwriting syndicate
Item 1.01: Entry into a Material Definitive Agreement
- $1.5B total subordinated debt issuance, consisting of $850M Series A and $650M Series B Notes
- Series A notes carry 7.000% interest; Series B notes carry 7.250%
Item 2.02: Results of Operations and Financial Condition
- Q2 2026 results for quarter ended June 30, 2026, announced August 7, 2026
- Detailed financial results furnished in Exhibit 99.1, requiring review for earnings, cash flow, and outlook implications
AI summaries of VST 8-K current reports filed with the SEC. What 8-K item codes mean
SignalX for VST
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Recent Insider Transactions (Form 4)
Latest reported trades by officers, directors and 10% owners
| Insider | Type | Date | Shares | Price |
|---|---|---|---|---|
| HUDSON SCOTT A | Sell | Sep 8, 2026 | 7,777 | $150.97 |
| HUDSON SCOTT A | Sell | Sep 8, 2026 | 28,826 | $151.85 |
| Moldovan Kristopher E. | Sell | Sep 8, 2026 | 20,000 | $151.03 |
| HUDSON SCOTT A | Sell | Sep 8, 2026 | 7,841 | $152.56 |
| BURKE JAMES A | Buy | Sep 1, 2026 | 4,465 | $135.25 |
| BURKE JAMES A | Buy | Aug 31, 2026 | 2,200 | $135.99 |
| BURKE JAMES A | Buy | Aug 24, 2026 | 2,000 | $135.00 |
| Acosta Arcilia | Sell | Jun 18, 2026 | 7,500 | $165.04 |
Financial SummaryXBRL
| Metric | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Profitability | |||
| Revenue | - | $14.8B | $17.6B |
| Operating Income | $2.7B | $4.1B | $1.9B |
| Net Income | $1.5B | $2.7B | $944.0M |
| Op. Margin | - | 27.6% | 10.8% |
| Net Margin | - | 18.0% | 5.4% |
| Balance Sheet | |||
| Total Assets | - | $37.8B | $41.5B |
| Equity | - | $5.6B | $5.1B |
| ROE | - | 47.7% | 18.5% |
| Per Share | |||
| EPS | $3.58 | $7.00 | $2.18 |
| Cash Flow | |||
| Operating CF | - | $4.6B | $4.1B |
| CapEx | $1.7B | $2.1B | $2.8B |
Source: XBRL data in Vistra Corp. (VST)'s 10-K filings on SEC EDGAR, in USD. Compare across companies →
13F Fund Holdings: Quarterly Trend
Latest: Q2 2026Aggregate VST share value held by 13F filers tracked by SignalX, by quarter.
Quarterly totals table
| Quarter | Funds | Total value |
|---|---|---|
| Q2 2026 | 49 | $23.12B |
| Q1 2026 | 47 | $22.08B |
| Q4 2025 | 42 | $25.97B |
| Q3 2025 | 46 | $34.31B |
| Q2 2025 | 42 | $31.43B |
| Q1 2025 | 38 | $14.70B |
| Q4 2024 | 35 | $15.36B |
| Q3 2024 | 29 | $6.47B |
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- Loews Corporation−70.0K
Source: 13F-HR filings on SEC EDGAR (aggregated from 328 fund-quarter rows). Reflects only 13F filers tracked by SignalX, not the full institutional ownership universe. How 13F filings work
VST filing archive
AI analysis pages for each 10-K, 10-Q and 8-K
10-K annual reports
10-Q quarterly reports
Latest 2026 SEC Filings: 10-K, 10-Q, 8-K & Form 4
| Form | Filing date | Period | Analysis | SEC |
|---|---|---|---|---|
| 8-K | Oct 5, 2026 | - | - | - |
| 8-K | Sep 24, 2026 | - | Analysis | - |
| 4 | Sep 10, 2026 | - | - | - |
| 4 | Sep 10, 2026 | - | - | - |
| 4 | Sep 2, 2026 | - | - | - |
| 4 | Aug 24, 2026 | - | - | - |
| 10-Q | Aug 10, 2026 | Jun 30, 2026 | Analysis | |
| 8-K | Aug 7, 2026 | - | Analysis | - |
| 8-K | Jul 16, 2026 | - | Analysis | - |
| 8-K | Jul 14, 2026 | - | Analysis | - |
| 8-K | Jun 30, 2026 | - | - | - |
| 4 | Jun 23, 2026 | - | - | - |
| 4 | Jun 23, 2026 | - | - | - |
| 4 | Jun 18, 2026 | - | - | - |
| 4 | Jun 16, 2026 | - | - | - |
| 4 | Jun 4, 2026 | - | - | |
| 4 | May 29, 2026 | - | - | |
| 4 | May 19, 2026 | - | - | |
| 4 | May 19, 2026 | - | - | |
| 4 | May 19, 2026 | - | - | |
| 4 | May 19, 2026 | - | - | |
| 4 | May 19, 2026 | - | - | |
| 4 | May 19, 2026 | - | - | |
| 4 | May 19, 2026 | - | - | |
| 4 | May 19, 2026 | - | - |
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VST SEC filings: frequently asked questions
Are VST insiders buying or selling?
In the last 90 days, Vistra Corp. (VST) officers, directors and 10% owners reported 3 open-market purchases worth $1.2 million by 1 insider and 4 open-market sales worth $9.8 million by 2 insiders on Form 4, a net sale of $8.6 million. Many insider sales are pre-planned or for taxes, so purchases usually carry more information.
Which institutions hold VST stock?
As of June 30, 2026, the largest Vistra Corp. (VST) holders among the 13F filers tracked by SignalX were BlackRock ($4.6 billion), Vanguard Capital Management LLC ($3.4 billion), Vanguard Portfolio Management LLC ($2.7 billion), State Street Corp ($2.7 billion), FMR LLC (Fidelity) ($2.2 billion). 13F-HR reports are filed up to 45 days after each quarter ends.
What was VST's revenue in fiscal year 2025?
For the fiscal year ended December 31, 2025 (FY2025), Vistra Corp. (VST) reported revenue of $17.6 billion (up 19.1% from FY2024) and net income of $944.0 million. Diluted EPS was $2.18. The figures come from the XBRL data in the 10-K.
What are the main risks in VST's latest 10-K?
In the 10-K filed February 27, 2026, Vistra Corp. (VST) flagged: Total debt ~$20.7B ($19.9B net of cash) at Dec 31, 2025; variable-rate Vistra Operations Credit Facilities partially unhedged, exposing to rate spikes. One Big Beautiful Bill Act (OBBBA, July 4 2025) accelerates phase-out of solar/wind tax credits, directly threatening Vistra Zero renewables portfolio economics. (AI summary of the Risk Factors section.)
What did VST report in its latest 8-K?
Vistra Corp. (VST) filed an 8-K on September 24, 2026 reporting Item 8.01 (Other Events) and Item 1.01 (Entry into a Material Definitive Agreement). Vistra completed a securities offering under a September 10, 2026 underwriting agreement.
What are the latest VST SEC filings?
Vistra Corp. (VST) filed its latest 10-K annual report on February 27, 2026, a 10-Q quarterly report on August 10, 2026, an 8-K current report on October 5, 2026 and a Form 4 insider filing on September 10, 2026.
What is VST's SEC CIK number?
Vistra Corp. (VST)'s SEC Central Index Key (CIK) is 1692819. EDGAR lists every VST filing under that number.
Ask anything about VST
The research agent reads VST's filings, financials, insider trades and 13F holders, then answers with sources.