Vistra (VST) FY2020 results: revenue $11.4 billion, down 3.1% on the year
Vistra Corp. (VST) reported revenue of $11.4 billion for fiscal 2020, the year ended 31 December 2020, down 3.1% on the year before. Net income was $636 million, down 31.5%, and diluted earnings per share $1.30. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2021.
Revenue
$11.4 billion
-3.1% on the year
FY2017FY2020
Operating margin
13.3%
16.9% a year earlier
FY2017FY2020
Net income
$636 million
-31.5% on the year
FY2017FY2020
Diluted EPS
$1.30
-30.1% on the year
FY2017FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
11,443
11,809
9,144
-3.1%
Selling, general and administrative
1,035
904
926
+14.5%
Operating income
1,519
1,993
491
-23.8%
Operating margin
13.3%
16.9%
5.4%
Interest expense
630
797
572
-21.0%
Pre-tax income
890
1,216
-101
-26.8%
Income tax
266
290
-45.0
-8.3%
Effective tax rate
29.9%
23.8%
n/a
Net income
636
928
-54.0
-31.5%
Net margin
5.6%
7.9%
-0.6%
Diluted EPS
$1.30
$1.86
-$0.11
-30.1%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
3,337
2,736
1,471
+22.0%
Capital expenditure
1,259
713
530
+76.6%
Free cash flow
2,078
2,023
941
+2.7%
Free cash flow margin
18.2%
17.1%
10.3%
Cash from investing
-1,572
-1,717
-101
Cash from financing
-1,796
-1,237
-2,723
Depreciation and amortisation
1,737
1,640
1,394
+5.9%
Share-based compensation
65.0
47.0
73.0
+38.3%
Buybacks
0.0
656
763
Dividends paid
266
243
0.0
+9.5%
Dividend per share
n/a
$0.12
n/a
Diluted shares, weighted
491m
500m
505m
-1.8%
Shares outstanding at period end
489m
488m
493m
+0.3%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
8,371
7,959
7,863
+5.2%
Non-controlling interest
-10.0
1.0
4.0
Short-term borrowings
n/a
n/a
0.0
Debt
9,330
10,729
10,874
-13.0%
Operating lease liabilities
40.0
41.0
0.0
-2.4%
Finance lease liabilities
206
78.0
0.0
+164.1%
Other liabilities
7,271
7,808
7,283
-6.9%
Total liabilities and equity
25,208
26,616
26,024
-5.3%
Fixed assets
13,499
13,914
14,612
-3.0%
Goodwill
2,583
2,553
2,068
+1.2%
Intangible assets
2,446
2,748
2,493
-11.0%
Investments
1,759
1,537
1,250
+14.4%
Cash and equivalents
406
300
636
+35.3%
Receivables
1,279
1,365
1,087
-6.3%
Inventory
515
469
412
+9.8%
Other assets
2,721
3,730
3,466
-27.1%
Total assets
25,208
26,616
26,024
-5.3%
10-K for the year ended 31 December 2020, filed 26 February 2021: the filing.