Vistra (VST) Operating Expenses (2016 - 2026)
Vistra's Operating Expenses came in at $392 million for Q2 2026, down 6.4% from $419 million a year earlier and down 8.2% from the prior quarter.
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Analysis
Vistra (VST) Operating Expenses (2016 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, Vistra reported Operating Expenses of $1.72 billion, up 29.7% year-over-year; for FY2025, it was $1.71 billion, up 7.0% from FY2024.
- Operating Expenses carries a five-year compound annual growth rate of -6.6% (FY2020 to FY2025).
- Going back by year, Operating Expenses was $1.6 billion in FY2024 (-39.6%), $2.65 billion in FY2023 (+2.9%), $2.58 billion in FY2022 (+2.3%) and $2.52 billion in FY2021 (+4.4%).
- The Q2 2026 figure represents the lowest quarterly Operating Expenses since Q4 2024.
- Year-over-year, Operating Expenses increased in two of the last six quarters, with an average decline of 19.0%.
- The fastest year-over-year change in Operating Expenses over five years came in Q3 2024 (growth of 20.2%), and the weakest in Q3 2025 (a decline of 46.6%).
- Business Quant data shows VST's Operating Expenses at $427 million (Q1 2026), $460 million (Q4 2025) and $444 million (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Vistra | 46.38 Bn | 39.58 Bn | - | 392.00 Mn |
| 2 | AXIA Energia | 29.36 Bn | 16.29 Bn | 2.59 Bn | -681.17 Mn |
| 3 | Nrg Energy | 20.40 Bn | 14.62 Bn | 2.01 Bn | 6.54 Bn |
| 4 | Talen Energy | 14.54 Bn | 12.12 Bn | - | 186.00 Mn |
| 5 | Enlight Renewable Energy | 9.08 Bn | 6.01 Bn | 117.49 Mn | -118.69 Mn |
| 6 | Brookfield Renewable Partners | 7.61 Bn | 28.99 Bn | 927.00 Mn | 783.00 Mn |
| 7 | Oklo | 6.87 Bn | 6.87 Bn | - | 74.40 Mn |
| 8 | Clearway Energy | 6.32 Bn | 8.88 Bn | - | 365.00 Mn |
| 9 | Ormat Technologies | 5.56 Bn | 4.30 Bn | 68.70 Mn | 22.61 Mn |
| 10 | ReNew Energy Global | 4.99 Bn | 3.86 Bn | - | 418.00 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 392.00 Mn |
| Mar 31, 2026 | 427.00 Mn |
| Dec 31, 2025 | 460.00 Mn |
| Sep 30, 2025 | 444.00 Mn |
| Jun 30, 2025 | 419.00 Mn |
| Mar 31, 2025 | 791.00 Mn |
| Dec 31, 2024 | 464.00 Mn |
| Sep 30, 2024 | 832.00 Mn |
| Jun 30, 2024 | 766.00 Mn |
| Mar 31, 2024 | 718.00 Mn |
| Dec 31, 2023 | 710.00 Mn |
| Sep 30, 2023 | 692.00 Mn |
| Jun 30, 2023 | 641.00 Mn |
| Mar 31, 2023 | 611.00 Mn |
| Dec 31, 2022 | 626.00 Mn |
| Sep 30, 2022 | 661.00 Mn |
| Jun 30, 2022 | 621.00 Mn |
| Mar 31, 2022 | 666.00 Mn |
| Dec 31, 2021 | 600.00 Mn |
| Sep 30, 2021 | 667.00 Mn |
API Access
Vistra Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=VST&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "VST", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=VST&period=max&api_key=YOUR_API_KEY");
const data = await res.json();