Vistra Corp. (VST)财务
NYSE · Utilities · Independent Power Producers · 员工6,390人 · CEO James A. Burke
- 股价
- $138.37 -1.83%
- 市值
- $464亿
- 企业价值
- $659亿
- 最近财报
- Q2 '26 2026-08-10提交
- 下次财报
- 2026-11-06 EPS预期 $2.98
营收(TTM)$192亿+3.8% 对比去年同期最近4个季度;柱状图=各季度
营业利润率(TTM)18.6%-1.1 百分点 对比去年同期营业利润 $35.7亿
净利润(TTM)$22.2亿-7.1% 对比去年同期税后,含营业外收益
自由现金流(TTM)$13.8亿-16.8% 对比去年同期资本支出 $37.5亿
稀释EPS(TTM)$5.93-6.0% 对比去年同期最近4个季度之和
净现金-$195亿-10.6% 对比去年同期现金 + 短期投资 - 债务
估值与关键数据
- 市值
- $464亿 EV $659亿
- 营收
- $192亿 过去12个月
- 营收增速
- +23% FY2026年一致预期
- 净利润率
- 11.6% 净利润 / 营收,TTM
- P/E
- 23.1× 预期 16.1×(FY2026)
- P/S
- 2.4× 股价 / 营收,TTM
- EV / EBITDA
- 10.0× TTM
- 自由现金流
- $13.8亿 过去12个月
- 净利润
- $22.2亿 过去12个月
- 营收预期
- $219亿 FY2026年一致预期
- 盈利
- 2026-11-06 营收预期 $60.3亿
- 股息
- $0.91 每股,过去12个月
核心要点
根据披露数据计算,每条结论都附有其依据的数字。
- 最近财报(2026-08-07):营收低于预期26.5%,EPS 低于预期52.2%营收$40.2亿,预期$54.6亿(-26.5%);EPS $0.77,预期$1.61(-52.2%)。
- 营收增长放缓:同比-5.5%Q2 '26营收$40.2亿,此前四个季度的平均值为11.6%。
- 营业利润率18.6%(TTM),较去年同期-1.1 百分点营收增长3.8%,营业利润增长-2.2%。
- 税前利润的27.3%被营业外亏损吞噬税前利润$28亿,营业利润$35.7亿(TTM)。股权投资亏损等一次性项目压低了净利润和EPS,营业利润更能反映业务本身。
- 资本支出占营收的19.5%(去年为13.9%)最近4个季度投入$37.5亿(同比+45.5%)。自由现金流$13.8亿,相当于净利润的62.0%。
- 股东回报$4.28亿 = 自由现金流的31.1%回购$1.2亿(去年为$12.3亿),股息$3.08亿,股权激励-$1.15亿(TTM)。
- 稀释股数一年内减少0.1%Q2 '26稀释股数3.39亿,一年前为3.39亿。
- 净债务 $195亿现金 + 短期投资 $4.35亿,含租赁债务 $199亿;一年前净债务 $176亿。
上一季度:Q2 '26
截至2026-06-30的季度。与去年同期及财报发布前的分析师一致预期对比。
本季度与去年同期
| Q2 '26 | 去年同期 | 变化 | |
|---|---|---|---|
| 营收 | $40.2亿 | $42.5亿 | -5.5% |
| 毛利率 | 34.6% | 36.3% | -1.7 百分点 |
| 营业利润 | $5.53亿 | $5.83亿 | -5.1% |
| 营业利润率 | 13.8% | 13.7% | 0.0 百分点 |
| 净利润 | $3.05亿 | $3.27亿 | -6.7% |
| 稀释EPS | $0.76 | $0.83 | -8.4% |
| 经营现金流 | $10.2亿 | $5.72亿 | +78.8% |
| 资本支出 | $8.9亿 | $6.9亿 | +29.0% |
| 自由现金流 | $1.33亿 | -$1.18亿 | +212.7% |
| R&D | $0 | $0 | – |
| 股权激励费用 | -$1.01亿 | $2500万 | -504.0% |
实际 vs 一致预期
2026-08-07| 实际 | 一致预期 | 对比预期 | |
|---|---|---|---|
| 营收 | $40.2亿 | $54.6亿 | -26.5% |
| EPS(一致预期口径) | $0.77 | $1.61 | -52.2% |
来自2026-08-07发布的Q2 '26财报：营收及分析师预期口径的EPS（通常为调整后），可能与上方报表中的EPS不同。
EPS与一致预期
最近8次财报营收
收入从何而来,按业务线和地区逐季展示。
营收、营业利润与增速
季度按业务线划分的营收
堆叠,季度| 分部 | Q2 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Retail Segment | $22.5亿 | +2.1% | 51.2% | $89.2亿 | +4.8% | |
| Texas Segment | $6.2亿 | +30.8% | 14.1% | $38.4亿 | -29.6% | |
| East Segment | $10.9亿 | +37.6% | 24.8% | $45.8亿 | +21.3% | |
| Revenue From Other Wholesale Contracts | $4.37亿 | +56.1% | 9.9% | $16.5亿 | – |
按地区划分的营收
占总额比例| 分部 | Q2 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| East Segment | $9.54亿 | -35.5% | 92.4% | $65.3亿 | -2.4% | |
| West Segment | $7900万 | +16.2% | 7.6% | $3.33亿 | -45.9% |
分部利润
取自每份10-Q / 10-K分部附注的各披露分部营业利润(多数数据源缺少的利润拆分)。
Q3 '24分部
| 分部 | 营收 | 同比 | 营业利润 | 同比 | 利润率 | 去年同期利润率 | TTM营业利润 |
|---|---|---|---|---|---|---|---|
| Retail Segment | – | – | -$12.1亿 | – | – | – | – |
| Texas Segment | – | – | $32.2亿 | – | – | – | – |
| East Segment | – | – | $3.62亿 | – | – | – | – |
| West Segment | – | – | $1.51亿 | – | – | – | – |
| Sunset Segment | – | – | $1.68亿 | – | – | – | – |
| Asset Closure Segment | – | – | -$2400万 | – | – | – | – |
| Corporate (unallocated) | – | – | -$7400万 | – | – | – | – |
各分部营业利润
季度各分部营业利润率
季度利润率与成本结构
每一单位营收在各层级还剩多少,成本又花在哪里。
利润率
季度成本占营收比例
季度现金流与资本配置
创造了多少现金,用在何处,又有多少回到股东手中。
经营现金流、资本支出、自由现金流
季度现金用途与经营现金流
财年最近4个季度
现金流量表- 经营现金流
- $51.2亿
- 资本支出
- -$37.5亿
- 股票回购
- -$1.2亿
- 股息
- -$3.08亿
- 收购
- $0
- 债务净发行
- -$14亿
- 股权激励费用
- -$1.15亿
- 自由现金流
- $13.8亿
- 股东回报 / FCF
- 31.1%
股数与EPS
季度,稀释资产负债表
各季度末的流动性、投资和债务。
现金、投资与债务
季度末估值与回报
当前估值倍数与公司自身过去五个财年对比;分析师目标价与评级。
估值倍数与回报
TTM与过去5个财年| 当前 | 5年均值 | 当前处于5年区间的位置 | |
|---|---|---|---|
| P/E(TTM) | 23.1× | 34.2× 5年中的3年 | 10.6× – 72.7× |
| EV / EBITDA | 10.0× | 15.4× | 5.6× – 26.4× |
| EV / 营收 | 3.4× | 2.6× | 1.7× – 4.2× |
| 股价 / FCF | 33.8× | 149.0× 5年中的3年 | 3.8× – 424.1× |
| 股价 / 净资产 | 8.5× | 5.0× | 1.3× – 10.7× |
| FCF收益率 | 3.0% | 2.5% | -11.3% – 26.5% |
| 投入资本回报率 | 8.3% | 3.0% | -4.6% – 10.7% |
| 净资产收益率 | 41.5% | 10.8% | -25.0% – 47.7% |
分析师
一致目标价 $197.94 (+43.1%)
区间 $169.00 – $255.00 · 评级 Buy
强烈买入0
买入22
持有2
卖出0
强烈卖出0
展望
分析师对未来财年的一致预期,以及按当前股价意味着什么。
一致预期
| 财年 | 营收 | 增速 | EPS | 增速 | 按当前股价的P/E | 分析师(EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $219亿 | +23.3% | $8.58 | +293.7% | 16.1× | 8 |
| FY2027 | $236亿 | +8.0% | $10.06 | +17.2% | 13.8× | 9 |
| FY2028 | $248亿 | +4.8% | $11.44 | +13.7% | 12.1× | 8 |
| FY2029 | $253亿 | +2.1% | $13.54 | +18.4% | 10.2× | 5 |
| FY2030 | $262亿 | +3.4% | $16.02 | +18.3% | 8.6× | 5 |
财务报表
利润表、资产负债表和现金流量表的每一项,含12个季度和10个财年,以金额、占营收比例或增速展示。
全部披露项目
Vistra Corp.在近期10-Q / 10-K文件中标记的全部307项数据,附SEC官方标签和定义,包括附注(租赁、税务、回购、员工等)。
| 项目(SEC标签) | 最近季度 | 去年同期 | 同比 | 最近财年 | 上一财年 | 同比 |
|---|---|---|---|---|---|---|
| Accounts Payable, Current | $15亿 | $12.8亿 | +17.9% | $16.4亿 | $15.1亿 | +8.9% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $22.9亿 | $22.3亿 | +2.9% | $23.2亿 | $19.8亿 | +17.2% |
| Accounts Receivable, Allowance for Credit Loss, Current | $7300万 | $7500万 | -2.7% | $8900万 | $7900万 | +12.7% |
| Accounts Receivable, Allowance for Credit Loss, Period Increase (Decrease) | $4400万 | $4300万 | +2.3% | $2.01亿 | $1.83亿 | +9.8% |
| Accounts Receivable, Allowance for Credit Loss, Writeoff | $4400万 | $4300万 | +2.3% | $1.91亿 | $1.65亿 | +15.8% |
| Accounts Receivable, before Allowance for Credit Loss, Current | $23.7亿 | $23亿 | +2.7% | $24.1亿 | $20.6亿 | +17.0% |
| Accounts Receivable, Credit Loss Expense (Reversal) | $4400万 | $4300万 | +2.3% | $2.01亿 | $1.83亿 | +9.8% |
| Accretion Expense | $3400万 | $3200万 | +6.3% | $1.34亿 | $1.14亿 | +17.5% |
| Accrual for Taxes Other than Income Taxes, Current | $1.25亿 | $1.43亿 | -12.6% | $2.24亿 | $2.09亿 | +7.2% |
| Accrued Income Taxes, Current | $300万 | – | – | $02021-12-31 | $1600万 | -100.0% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant and Equipment, Period Increase (Decrease) | $5.34亿 | $6.21亿 | -14.0% | $23.1亿 | $20.6亿 | +12.2% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $99.8亿 | $85.4亿 | +16.9% | $92.7亿 | $80.2亿 | +15.6% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | $1600万 | $1900万 | -15.8% | $1700万 | $2000万 | -15.0% |
| Additional Paid in Capital, Common Stock | $95.4亿 | $94.5亿 | +0.9% | $95.4亿 | $94.4亿 | +1.1% |
| Amortization of Debt Discount (Premium) | $1200万 | $1100万 | +9.1% | $4600万 | $3400万 | +35.3% |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 37.9万 | 208 | +181,957.7% | 0 | 0 | – |
| APIC, Share-based Payment Arrangement, Increase for Cost Recognition | $3500万 | $4300万 | -18.6% | $1.02亿 | $1.4亿 | -27.1% |
| Asset Retirement Obligation | $42.7亿 | $41亿 | +4.1% | $42.2亿 | $40.8亿 | +3.4% |
| Asset Retirement Obligation, Accretion Expense | $5000万 | $4700万 | +6.4% | $1.94亿 | $1.7亿 | +14.1% |
| Asset Retirement Obligation, Current | $1.97亿 | $1.46亿 | +34.9% | $1.81亿 | $1.42亿 | +27.5% |
| Asset Retirement Obligation, Liabilities Settled | $2100万 | $2300万 | -8.7% | $9600万 | $8800万 | +9.1% |
| Asset Retirement Obligations, Noncurrent | $40.7亿 | $39.5亿 | +3.0% | $40.4亿 | $39.4亿 | +2.5% |
| Assets | $426亿 | $381亿 | +11.7% | $416亿 | $378亿 | +10.0% |
| Assets for Plan Benefits, Defined Benefit Plan | $1300万2025-09-30 | $1800万 | -27.8% | – | – | – |
| Assets Held-for-sale, Not Part of Disposal Group | $9700万 | – | – | – | – | – |
| Assets, Current | $103亿 | $84.8亿 | +21.1% | $91.8亿 | $81.2亿 | +13.1% |
| Assets, Fair Value Disclosure | $5000万 | – | – | $900万 | $500万 | +80.0% |
| Cash and Cash Equivalents, at Carrying Value | $4.35亿 | $4.58亿 | -5.0% | $7.85亿 | $11.9亿 | -33.9% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $4.81亿 | $4.95亿 | -2.8% | $8.22亿 | $12.2亿 | -32.7% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | -$1.96亿 | -$1.01亿 | -94.1% | -$4亿 | -$23.2亿 | +82.7% |
| Change in Unrealized Gain (Loss) on Fair Value Hedging Instruments | -$5.3亿 | $5000万 | -1,160.0% | -$18.3亿 | $3600万 | -5,183.3% |
| Common Stock, Dividends, Per Share, Cash Paid | $0.23 | $0.23 | +1.8% | $0.90 | $0.87 | +3.2% |
| Common Stock, Par or Stated Value Per Share | $0.01 | $0.01 | 0.0% | $0.01 | $0.01 | 0.0% |
| Common Stock, Shares Authorized | 18亿 | 18亿 | 0.0% | 18亿 | 18亿 | 0.0% |
| Common Stock, Shares, Outstanding | 3.36亿 | 3.39亿 | -0.9% | 3.38亿 | 3.4亿 | -0.5% |
| Common Stock, Value, Issued | $500万 | $500万 | 0.0% | $500万 | $500万 | 0.0% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | $02025-09-30 | -$5100万 | +100.0% | – | – | – |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $6.53亿2025-09-30 | $18.9亿 | -65.4% | – | – | – |
| Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | $2.3亿2025-12-31 | $5.03亿 | -54.3% | $9.41亿 | $28.3亿 | -66.7% |
| Construction in Progress Expenditures Incurred but Not yet Paid | – | – | – | $1.08亿 | $2.58亿 | -58.1% |
| Construction in Progress, Gross | $18.4亿 | $15.6亿 | +18.2% | $19.2亿 | $10.6亿 | +80.8% |
| Current Federal Tax Expense (Benefit) | – | – | – | -$300万 | $200万 | -250.0% |
| Current Income Tax Expense (Benefit) | – | – | – | $4300万 | $4800万 | -10.4% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $4600万 | $4600万 | 0.0% |
| Debt Instrument, Repurchase Amount | $6.13亿 | $13亿 | -52.7% | $6.32亿 | $13.4亿 | -52.7% |
| Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net | $1.69亿 | $1.51亿 | +11.9% | $1.53亿 | $1.71亿 | -10.5% |
| Decommissioning Fund Investments | $49.3亿2025-09-30 | $44.4亿 | +10.9% | $44.4亿2024-12-31 | $19.5亿 | +127.6% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | $1.49亿 | $5.61亿 | -73.4% |
| Deferred Income Tax Assets, Net | $2.13亿 | $900万 | +2,266.7% | $2.39亿 | $900万 | +2,555.6% |
| Deferred Income Tax Expense (Benefit) | – | – | – | $1.36亿 | $6.07亿 | -77.6% |
| Deferred Income Tax Liabilities, Net | $12.7亿 | $5.69亿 | +123.4% | $10.5亿 | $6.97亿 | +50.5% |
| Deferred Income Taxes and Tax Credits | $9600万 | $5700万 | +68.4% | $1.36亿 | $6.07亿 | -77.6% |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | -$1300万 | $4600万 | -128.3% |
| Deferred Tax Assets, Derivative Instruments | $6.61亿2025-12-31 | $3.83亿 | +72.6% | $6.61亿 | $3.83亿 | +72.6% |
| Deferred Tax Assets, Goodwill and Intangible Assets | $3.26亿2025-12-31 | $3.4亿 | -4.1% | $3.26亿 | $3.4亿 | -4.1% |
| Deferred Tax Assets, Gross | $24.5亿2025-12-31 | $21.5亿 | +14.0% | $24.5亿 | $21.5亿 | +14.0% |
| Deferred Tax Assets, Operating Loss Carryforwards | $10.8亿2025-12-31 | $9.49亿 | +13.6% | $10.8亿 | $9.49亿 | +13.6% |
| Deferred Tax Assets, Other | $3700万2025-12-31 | $3600万 | +2.8% | $3700万 | $3600万 | +2.8% |
| Deferred Tax Assets, Other Comprehensive Loss | $02025-12-31 | – | – | $0 | – | – |
| Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Employee Benefits | $1.33亿2025-12-31 | $1.33亿 | 0.0% | $1.33亿 | $1.33亿 | 0.0% |
来源:SEC companyfacts(每份10-Q / 10-K的XBRL)。现金流量表的季度数据由10-Q标记的年初至今累计数推算。分部拆分带有维度标记,在分部章节中单独展示。
数据来源
报表、分部营收、指标、预期:Financial Modeling Prep。分部利润及全部披露项目:SEC EDGAR(XBRL)。 已读取的文件: 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30, 10-Q 2024-06-30
数据截至 2026-11-02