Vistra Energy Corp (VST)
Pretax margin
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) (ttm) | US$ in thousands | 3,467,000 | 2,870,000 | 1,149,000 | 1,122,000 | 2,000,000 | 1,810,000 | 2,053,000 | -310,000 | -1,561,000 | -384,000 | -1,257,000 | 427,000 | -1,723,000 | -2,608,000 | -2,008,000 | -1,696,000 | 891,000 | 1,189,000 | 707,000 | 977,000 |
| Revenue (ttm) | US$ in thousands | 17,224,000 | 16,265,000 | 14,063,000 | 13,407,000 | 14,778,000 | 15,569,000 | 16,629,000 | 15,028,000 | 13,728,000 | 13,173,000 | 11,018,000 | 11,995,000 | 12,077,000 | 11,287,000 | 11,848,000 | 11,792,000 | 11,443,000 | 11,779,000 | 11,421,000 | 11,744,000 |
| Pretax margin | 20.13% | 17.65% | 8.17% | 8.37% | 13.53% | 11.63% | 12.35% | -2.06% | -11.37% | -2.92% | -11.41% | 3.56% | -14.27% | -23.11% | -16.95% | -14.38% | 7.79% | 10.09% | 6.19% | 8.32% |
December 31, 2024 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $3,467,000K ÷ $17,224,000K
= 20.13%
The pretax margin of Vistra Energy Corp has shown varying trends over the quarters analyzed. The margin stood at 8.32% on March 31, 2020, decreased to 6.19% by June 30, 2020, then improved to 10.09% on September 30, 2020. However, it dropped to 7.79% by December 31, 2020.
The trend took a negative turn in the first half of 2021, with the pretax margin plunging to -14.38% on March 31, 2021, and further to -16.95% on June 30, 2021. The negative trend continued through the third quarter of 2021, recording a pretax margin of -23.11% on September 30, 2021.
Despite the challenges faced in 2021, there was a reversal in the trend in the latter half of 2022 and continued into 2023. The pretax margin improved to 3.56% on March 31, 2022, turned negative again by June 30, 2022, but recovered slightly to -2.92% by September 30, 2022. By December 31, 2022, the margin remained negative at -11.37%.
Entering 2023, there was a positive shift, with the pretax margin rising to -2.06% on March 31, 2023, and increasing further to 12.35% by June 30, 2023. The momentum continued throughout 2023, reaching 13.53% on December 31, 2023.
The positive trend persisted into 2024, with the pretax margin at 8.37% on March 31, 2024, and a slight increase to 8.17% by June 30, 2024. Subsequently, there was a significant improvement with a pretax margin of 17.65% on September 30, 2024, and a further increase to 20.13% by December 31, 2024.
Overall, the pretax margin of Vistra Energy Corp has fluctuated significantly over the quarters analyzed, showing both positive and negative trends. In recent quarters, there has been a notable improvement, indicating potential operational and financial performance enhancements by the company.
Peer comparison
Dec 31, 2024