Vistra Corp. (VST) FY2024 10-K Annual Report
Vistra Corp. (VST) 10-K annual report for fiscal year 2024, filed with SEC EDGAR on Feb 28, 2025. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
Vistra Corp. FY2024 10-K Analysis
Business Overview
- • Integrated retail electricity and power generation business serving 5 million customers across 18 states plus D.C.
- • Updated reportable segments in Q4 2024, eliminating “Sunset” segment, reallocating its assets into Texas and East segments
- • Nuclear license renewal application filed in 2023 to extend Perry plant operation from 2026 to 2046
- • Total generating capacity 40,657 MW: 59% natural gas, 21% coal, 16% nuclear, 4% renewables (solar/battery)
- • Texas retail customers approximately 2.6 million, largest portion of retail operations
Management Discussion & Analysis
- • Revenue not explicitly stated; 2024 earnings strong from integrated business model and hedging strategy, combining Energy Harbor merger assets (4,048 MW nuclear added)
- • Operating margin or profitability % not specified; recognized $545 million nuclear PTC revenue in 2024 per IRA tax credits
- • Best segment: East segment sold 12,062 MW capacity net for 2024-2025 at $41.38/MW-day; West segment capacity down to 1,816 MW for 2025 CAISO RA program
- • Cash flow/capital allocation: $305 million dividends paid in 2024; $1.2 billion stock repurchases (16.6 million shares); $500 million + $1 billion senior notes issued in 2024; $1.9 billion stock repurchase capacity remains
- • Outlook/risks: plans for adding 2,000 MW gas capacity in Texas contingent on market reforms and loan approval; $400 million asset write-off projected for Moss Landing battery fire in Q1 2025; supply chain/labor cost inflation; nuclear fuel supply secure through 2029 despite Russia-Ukraine impact
Risk Factors
- • No specific or timely regulatory/legal risk detailed in section
- • No geopolitical or macroeconomic threat with concrete exposure disclosed
- • Cybersecurity risk oversight by Board's Sustainability and Risk Committee with quarterly CIO reporting on emerging threats
- • Technology platform vulnerability mitigated by CIO with 30+ years experience from major companies like General Motors
- • No financial or structural risk such as leverage, concentration, or key-person dependency explicitly stated
Vistra Corp. FY2024 Key Financial MetricsXBRL
Revenue
$14.8B
▲ +6.9% YoY
Net Income
$2.7B
▲ +78.1% YoY
Operating Margin
27.6%
▲ +837bp YoY
Net Margin
18.0%
▲ +720bp YoY
ROE
47.7%
▲ +1961bp YoY
Total Assets
$37.8B
▲ +14.6% YoY
EPS (Diluted)
$7.00
▲ +95.5% YoY
Operating Cash Flow
$4.6B
▼ -16.3% YoY
Source: XBRL data from Vistra Corp. FY2024 10-K filing on SEC EDGAR. All figures in USD.
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