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NRG Energy vs Vistra: NRG and VST compared
NRG Energy is the larger company: $7.5B of revenue in its latest quarter (Q2 2026) against $6.3B for Vistra (Q3 2026). Vistra is growing faster (+28% against +11% a year earlier). Vistra is more profitable, with an operating margin of 26.9% against 13.0%.
Where the money goes: NRG and VST
NRG Energy (NRG) · Q2 2026
NRG Energy, Q2 2026: revenue $7.5B (+11% year over year), operating margin 13.0%, net earnings $506M, operating cash flow $1.1B. The chart follows the revenue to costs, profit and cash.
Vistra (VST) · Q3 2026
Vistra, Q3 2026: revenue $6.3B (+28% year over year), operating margin 26.9%, net earnings $1.1B. The chart follows the revenue to costs, profit and cash.
| NRG Energy (NRG) | Vistra (VST) | |
|---|---|---|
| Latest quarter | Q2 2026 | Q3 2026 |
| Revenue | $7.5B | $6.3B |
| Revenue growth, Y/Y | +11% | +28% |
| Operating margin | 13.0% | 26.9% |
| Net earnings | $506M | $1.1B |
| Net margin | 6.8% | 18.0% |
| Operating cash flow | $1.1B | — |
| Free cash flow | $779M | — |
| Market value | $17.1B | $38.3B |
| P/E | 20.1× | 17.3× |
| Analysts’ mean target | $166.94 | $202.67 |
Questions
Which is bigger, NRG Energy or Vistra?
NRG Energy is the larger company: $7.5B of revenue in its latest quarter (Q2 2026) against $6.3B for Vistra (Q3 2026).
Is NRG Energy or Vistra growing faster?
Vistra is growing faster (+28% against +11% a year earlier).
Which is more profitable, NRG Energy or Vistra?
Vistra is more profitable, with an operating margin of 26.9% against 13.0%.
More: NRG Energy earnings · how NRG Energy makes money · Vistra earnings · how Vistra makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Aug 4, 2026; 8-K filed Nov 6, 2026). Fiscal quarters can end on different dates. Not investment advice.