VST Vistra Corp.

company

SEC Filings & Insider Trading Activity 2026

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

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)

What are the latest VST SEC filings in 2026?

Vistra Corp. (VST) has filed a 10-K annual report on February 27, 2026, a 10-Q quarterly report on May 8, 2026, an 8-K current report on August 7, 2026 with the SEC. SignalX tracks every new SEC EDGAR filing daily, including 10-K, 10-Q, 8-K, and Form 4 insider transactions, with AI-powered summaries of key sections.

When did VST file its most recent 10-K annual report?

Vistra Corp. (VST) filed its most recent 10-K annual report on February 27, 2026. The 10-K includes audited financial statements, business overview, risk factors, and management discussion, all available on SignalX with AI-generated summaries and XBRL financial data.

How do I view VST 10-Q quarterly reports?

Vistra Corp. (VST)'s most recent 10-Q quarterly report was filed on May 8, 2026. SignalX displays every VST 10-Q with AI-generated summaries of the MD&A (Management Discussion & Analysis) and Risk Factors sections, plus links to the original SEC EDGAR document.

What 8-K current reports has VST filed recently?

Vistra Corp. (VST)'s most recent 8-K was filed on August 7, 2026. 8-K filings disclose material corporate events such as earnings releases, executive changes, mergers, and other significant developments. SignalX surfaces each 8-K with item-level summaries so you can quickly see what happened.

Where can I find VST insider trading activity (Form 4)?

SignalX aggregates every VST Form 4 insider transaction from SEC EDGAR. Form 4 reports show when officers, directors, and 10% shareholders buy or sell company stock, with transaction code, share count, and price per share.

How often does VST file with the SEC?

Vistra Corp. (VST) files a 10-K annual report once per year (typically within 60 days of fiscal year-end) and 10-Q quarterly reports three times per year. 8-K current reports are filed as needed when material events occur, and Form 4 insider transaction reports are due within two business days of a trade. SignalX monitors SEC EDGAR daily to surface every new VST filing with AI-powered analysis.

What is the difference between 10-K, 10-Q, and 8-K SEC filings?

A 10-K is a comprehensive annual report with audited financials, business overview, and risk factors. A 10-Q is a shorter quarterly report with unaudited financials and management discussion. An 8-K is a current report filed when a material event occurs, such as earnings releases, executive changes, acquisitions, or other significant developments. SignalX provides AI-generated summaries for all three filing types for Vistra Corp. (VST).

What is VST's SEC CIK number?

Vistra Corp. (VST)'s SEC CIK (Central Index Key) number is 1692819. The CIK is a unique identifier assigned by the SEC to every filing entity. You can use CIK 1692819 to look up all VST filings on SEC EDGAR, or browse them here on SignalX with AI-powered analysis.

Where can I find VST return on equity (ROE) and financial data?

SignalX extracts XBRL financial data from Vistra Corp. (VST) 10-K annual filings, including revenue, net income, gross profit, operating income, EPS, total assets, stockholders' equity, and operating cash flow. Return on equity (ROE) can be derived from net income divided by stockholders' equity. Multi-year financial trends are displayed in the Financial Summary table above.