Vistra
Vistra returns on capital
Annual and trailing 12-month returns on invested capital, equity and assets.
ROIC
% · Annual / TTM
ROCE
% · Annual / TTM
ROIIC
% · Annual / TTM
ROE
% · Annual / TTM
ROA
% · Annual / TTM
ROIC − WACC
Percentage points · Scenario
Quarterly data
| Fiscal period | Ended | ROIC% | ROCE% | ROIIC% | ROE% | ROA% | ROIC − WACCPercentage points |
|---|---|---|---|---|---|---|---|
| FY 2026 Q2 | Jun 30, 2026 | 12.35% | 11.73% | -6.3% | 39.34% | 5.5% | 8 pp |
| FY 2026 Q1 | Mar 31, 2026 | 12.34% | 11.8% | -17.86% | 39.32% | 5.64% | 7.9 pp |
| FY 2025 Q4 | Dec 31, 2025 | 7.31% | 6.45% | -69% | 14.1% | 2.38% | 2.9 pp |
| FY 2025 Q3 | Sep 30, 2025 | 9.66% | 6.79% | -55.92% | 18.03% | 3.04% | 5.3 pp |
| FY 2025 Q2 | Jun 30, 2025 | 14.33% | 12.4% | — | 42.17% | 6.18% | 9.9 pp |
| FY 2025 Q1 | Mar 31, 2025 | 14.91% | 13.39% | 434.55% | 42.63% | 6.35% | 10.5 pp |
| FY 2024 Q4 | Dec 31, 2024 | 17.92% | 15.55% | 29.75% | 45.36% | 7.52% | 13.5 pp |
| FY 2024 Q3 | Sep 30, 2024 | 15.12% | 13.42% | 22.58% | 33.84% | 5.83% | 10.7 pp |
| FY 2024 Q2 | Jun 30, 2024 | 6.68% | 7.05% | -14.13% | 8.71% | 1.86% | 2.3 pp |
| FY 2024 Q1 | Mar 31, 2024 | 6.12% | 6.16% | — | 11.02% | 2.19% | 1.7 pp |
| FY 2023 Q4 | Dec 31, 2023 | 11.91% | 11.67% | — | 26.31% | 4.54% | 7.5 pp |
| FY 2023 Q3 | Sep 30, 2023 | 11.72% | 10.58% | — | 23.11% | 4.26% | 7.3 pp |
| FY 2023 Q2 | Jun 30, 2023 | 11.74% | 10.99% | — | 26.92% | 4.7% | 7.3 pp |
| FY 2023 Q1 | Mar 31, 2023 | — | 1.06% | — | -6.3% | -0.76% | — |
| FY 2022 Q4 | Dec 31, 2022 | — | -5.09% | — | -20.87% | -3.93% | — |
| FY 2022 Q3 | Sep 30, 2022 | — | -0.84% | — | -6.7% | -0.79% | — |
| FY 2022 Q2 | Jun 30, 2022 | — | -4.32% | — | -17.67% | -2.84% | — |
| FY 2022 Q1 | Mar 31, 2022 | — | 3.59% | — | 6.34% | 1.65% | — |
| FY 2021 Q4 | Dec 31, 2021 | — | -6.59% | — | -15.54% | -4.64% | — |
| FY 2021 Q3 | Sep 30, 2021 | — | -10.54% | — | -28.02% | -7.32% | — |
| FY 2021 Q2 | Jun 30, 2021 | — | -8.14% | — | -22.54% | -5.98% | — |
| FY 2021 Q1 | Mar 31, 2021 | — | -6.84% | — | -20.85% | -5.57% | — |
| FY 2020 Q4 | Dec 31, 2020 | 5.97% | 6.87% | — | 7.79% | 2.45% | 1.6 pp |
| FY 2020 Q3 | Sep 30, 2020 | 7.36% | 7.97% | — | 11.07% | 3.46% | 3 pp |
| FY 2020 Q2 | Jun 30, 2020 | 6.65% | 6.92% | — | 7.13% | 2.15% | 2.3 pp |
| FY 2020 Q1 | Mar 31, 2020 | 7.9% | 8.53% | — | 9.64% | 2.91% | 3.5 pp |
| FY 2019 Q4 | Dec 31, 2019 | 8.2% | 8.97% | — | 11.73% | 3.53% | 3.8 pp |
| FY 2019 Q3 | Sep 30, 2019 | 6.36% | 7.34% | — | 6.28% | 1.94% | 2 pp |
| FY 2019 Q2 | Jun 30, 2019 | 6.62% | 8.02% | — | 8.89% | 2.74% | 2.2 pp |
| FY 2019 Q1 | Mar 31, 2019 | 7.91% | 7.74% | — | 12.22% | 2.36% | 3.5 pp |
| FY 2018 Q4 | Dec 31, 2018 | — | — | — | — | — | — |
| FY 2018 Q3 | Sep 30, 2018 | — | — | — | — | — | — |
| FY 2018 Q2 | Jun 30, 2018 | — | — | — | — | — | — |
| FY 2018 Q1 | Mar 31, 2018 | — | — | — | — | — | — |
Sources and calculations
Financial inputs from company filings. Last checked Oct 18, 2026. A dash means missing inputs or an undefined calculation.
Period changes use the preceding fiscal quarter or year. Percentage changes divide by the absolute prior value; a zero or missing baseline has no percentage change. Percentage metrics show changes in percentage points.
Quarterly returns use trailing 12-month earnings and period-end balances averaged with the same fiscal quarter one year earlier. NOPAT uses the reported effective tax rate only when pretax profit is positive and the rate is between 0 and 100%. WACC starts at 4.4%, rounded from the Utility · General benchmark in NYU Stern · January 2026. It is an editable US sector proxy applied across history, not a company estimate; foreign reporting currencies also need a currency-specific assessment.
Market prices: Yahoo Finance · VST, USD. Latest completed close Sep 25, 2026. Price data retrieved Sep 28, 2026.
- ROIC
- NOPAT / average invested capital × 100. NOPAT = operating income × (1 − effective tax rate). Invested capital = equity including noncontrolling interests + debt − cash and equivalents. Average uses period end and one year earlier.
- ROCE
- Operating income / average (assets − current liabilities) × 100, using period end and one year earlier.
- ROIIC
- Year-over-year change in annual/TTM NOPAT / positive year-over-year change in invested capital × 100. Capital reductions and missing inputs yield unavailable values.
- ROE
- Earnings attributable to owners / average equity attributable to owners × 100, using period end and one year earlier.
- ROA
- Net income / average total assets × 100, using period end and one year earlier.
- ROIC − WACC
- ROIC less your WACC assumption, in percentage points. The same scenario rate is applied across history; it is not a reported or historical company WACC.