Vistra (VST) Gross Margin (2016 - 2026)
Vistra's (VST) quarterly Gross Margin came in at 87.59% in Q1 2026, up 521.0% year-on-year from 14.1% in Q1 2025, and up 3.96% quarter-over-quarter from 84.25% in Q4 2025.
Vistra (VST) Gross Margin (2016 - 2026) Analysis & Trends
Vistra's Gross Margin history runs 11 years deep, the most recent figure standing at 87.59% for Q1 2026.
- On a quarterly basis, Gross Margin rose 521.0% year-over-year to 87.59% in Q1 2026; TTM through Mar 2026 was 85.55%, a 4.0% decrease from a year earlier, with the FY2025 full-year figure at 84.2%, down 179.0% from the prior year.
- Gross Margin climbed to 87.59% in Q1 2026 per VST's latest filing, from 84.25% in the prior quarter.
- Across five years, Gross Margin topped out at 92.23% in Q3 2022 and bottomed at 72.61% in Q2 2022.
- The 5-year median for Gross Margin is 86.19% (2023), against an average of 85.81%.
- Across the five-year window, Gross Margin plunged 1067 bps in 2022 and soared 1344 bps in 2023, its largest moves.
- Year by year, Gross Margin stood at 89.79% in 2022, then retreated by 4 bps to 86.19% in 2023, then slipped by 3 bps to 83.35% in 2024, then grew by 1 bps to 84.25% in 2025, then increased by 4 bps to 87.59% in 2026.
- Per Business Quant, the three latest VST Gross Margin figures stand at 87.59% (Q1 2026), 84.25% (Q4 2025), and 86.82% (Q3 2025).
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Vistra | 52.84 Bn | 51.14 Bn | 4.94 Bn | 87.59% |
| 2 | Nrg Energy | 28.17 Bn | 28.12 Bn | 1.40 Bn | 13.63% |
| 3 | Talen Energy | 15.71 Bn | 15.67 Bn | - | - |
| 4 | Oklo | 7.13 Bn | 7.13 Bn | - | - |
| 5 | Transalta | 3.99 Bn | 3.46 Bn | 263.24 Mn | 63.89% |
| 6 | Kenon Holdings | 3.66 Bn | 1.86 Bn | 48.00 Mn | 15.14% |
| 7 | Digi Power X | 264.61 Mn | 206.80 Mn | -801,636.00 | -11.80% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 87.59% |
| Dec 31, 2025 | 84.25% |
| Sep 30, 2025 | 86.82% |
| Jun 30, 2025 | 82.75% |
| Mar 31, 2025 | 82.38% |
| Dec 31, 2024 | 83.35% |
| Sep 30, 2024 | 90.20% |
| Jun 30, 2024 | 83.67% |
| Mar 31, 2024 | 83.69% |
| Dec 31, 2023 | 86.19% |
| Sep 30, 2023 | 89.94% |
| Jun 30, 2023 | 86.05% |
| Mar 31, 2023 | 90.49% |
| Dec 31, 2022 | 89.79% |
| Sep 30, 2022 | 92.23% |
| Jun 30, 2022 | 72.61% |
| Mar 31, 2022 | 86.69% |
| Dec 31, 2021 | 88.35% |
| Sep 30, 2021 | 87.56% |
| Jun 30, 2021 | 83.27% |