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Side-by-side financial comparison of ARGENX SE (ARGX) and Vistra Corp. (VST). Click either name above to swap in a different company.
Vistra Corp. is the larger business by last-quarter revenue ($4.8B vs $2.5B, roughly 1.9× ARGENX SE). ARGENX SE runs the higher net margin — 35.5% vs 4.8%, a 30.6% gap on every dollar of revenue. On growth, ARGENX SE posted the faster year-over-year revenue change (83.2% vs 31.2%). Vistra Corp. produced more free cash flow last quarter ($596.0M vs $322.4M).
AbbVie Inc. is an American pharmaceutical company headquartered in North Chicago, Illinois. They have produced drugs to treat a wide range of medical issues.
Vistra may refer to either of two companies:Vistra, a corporate services company based in Hong Kong Vistra Corp, an energy company based in Texas
ARGX vs VST — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.5B | $4.8B |
| Net Profit | $877.2M | $233.0M |
| Gross Margin | 89.5% | — |
| Operating Margin | 28.9% | 9.9% |
| Net Margin | 35.5% | 4.8% |
| Revenue YoY | 83.2% | 31.2% |
| Net Profit YoY | 1.3% | -47.2% |
| EPS (diluted) | $13.25 | $0.55 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $2.5B | $4.8B | ||
| Q3 25 | — | $4.8B | ||
| Q2 25 | $1.8B | $3.8B | ||
| Q1 25 | — | $4.3B | ||
| Q4 24 | $1.4B | $3.7B | ||
| Q3 24 | — | $4.3B | ||
| Q2 24 | $901.9M | $3.6B | ||
| Q1 24 | — | $3.2B |
| Q4 25 | $877.2M | $233.0M | ||
| Q3 25 | — | $652.0M | ||
| Q2 25 | $414.8M | $327.0M | ||
| Q1 25 | — | $-268.0M | ||
| Q4 24 | $865.6M | $441.0M | ||
| Q3 24 | — | $1.9B | ||
| Q2 24 | $-32.5M | $365.0M | ||
| Q1 24 | — | $-35.0M |
| Q4 25 | 89.5% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 89.2% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 90.2% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 89.4% | — | ||
| Q1 24 | — | — |
| Q4 25 | 28.9% | 9.9% | ||
| Q3 25 | — | 21.7% | ||
| Q2 25 | 19.2% | 13.7% | ||
| Q1 25 | — | -2.8% | ||
| Q4 24 | 8.7% | 16.4% | ||
| Q3 24 | — | 59.6% | ||
| Q2 24 | -15.4% | 22.5% | ||
| Q1 24 | — | 2.7% |
| Q4 25 | 35.5% | 4.8% | ||
| Q3 25 | — | 13.6% | ||
| Q2 25 | 23.4% | 8.7% | ||
| Q1 25 | — | -6.3% | ||
| Q4 24 | 64.1% | 12.0% | ||
| Q3 24 | — | 43.5% | ||
| Q2 24 | -3.6% | 10.1% | ||
| Q1 24 | — | -1.1% |
| Q4 25 | $13.25 | $0.55 | ||
| Q3 25 | — | $1.75 | ||
| Q2 25 | $6.32 | $0.81 | ||
| Q1 25 | — | $-0.93 | ||
| Q4 24 | $13.33 | $1.09 | ||
| Q3 24 | — | $5.25 | ||
| Q2 24 | $-0.55 | $0.90 | ||
| Q1 24 | — | $-0.24 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $3.5B | $785.0M |
| Total DebtLower is stronger | — | $15.8B |
| Stockholders' EquityBook value | $7.3B | $5.1B |
| Total Assets | $8.7B | $41.5B |
| Debt / EquityLower = less leverage | — | 3.11× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $3.5B | $785.0M | ||
| Q3 25 | — | $602.0M | ||
| Q2 25 | $2.1B | $458.0M | ||
| Q1 25 | — | $561.0M | ||
| Q4 24 | $1.5B | $1.2B | ||
| Q3 24 | — | $905.0M | ||
| Q2 24 | $1.4B | $1.6B | ||
| Q1 24 | — | $1.1B |
| Q4 25 | — | $15.8B | ||
| Q3 25 | — | $15.8B | ||
| Q2 25 | — | $15.5B | ||
| Q1 25 | — | $15.4B | ||
| Q4 24 | — | $15.4B | ||
| Q3 24 | — | $13.9B | ||
| Q2 24 | $11.0M | $13.9B | ||
| Q1 24 | — | $14.7B |
| Q4 25 | $7.3B | $5.1B | ||
| Q3 25 | — | $5.2B | ||
| Q2 25 | $6.1B | $4.8B | ||
| Q1 25 | — | $4.8B | ||
| Q4 24 | $5.5B | $5.6B | ||
| Q3 24 | — | $5.4B | ||
| Q2 24 | $4.3B | $5.6B | ||
| Q1 24 | — | $5.7B |
| Q4 25 | $8.7B | $41.5B | ||
| Q3 25 | — | $38.0B | ||
| Q2 25 | $7.2B | $38.1B | ||
| Q1 25 | — | $38.2B | ||
| Q4 24 | $6.2B | $37.8B | ||
| Q3 24 | — | $37.9B | ||
| Q2 24 | $4.8B | $39.1B | ||
| Q1 24 | — | $38.2B |
| Q4 25 | — | 3.11× | ||
| Q3 25 | — | 3.02× | ||
| Q2 25 | — | 3.22× | ||
| Q1 25 | — | 3.20× | ||
| Q4 24 | — | 2.77× | ||
| Q3 24 | — | 2.56× | ||
| Q2 24 | 0.00× | 2.49× | ||
| Q1 24 | — | 2.60× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $323.3M | $1.4B |
| Free Cash FlowOCF − Capex | $322.4M | $596.0M |
| FCF MarginFCF / Revenue | 13.0% | 12.4% |
| Capex IntensityCapex / Revenue | 0.0% | 17.4% |
| Cash ConversionOCF / Net Profit | 0.37× | 6.15× |
| TTM Free Cash FlowTrailing 4 quarters | $594.5M | $1.3B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $323.3M | $1.4B | ||
| Q3 25 | — | $1.5B | ||
| Q2 25 | $361.8M | $572.0M | ||
| Q1 25 | — | $599.0M | ||
| Q4 24 | $41.9M | $1.4B | ||
| Q3 24 | — | $1.7B | ||
| Q2 24 | $-124.7M | $1.2B | ||
| Q1 24 | — | $312.0M |
| Q4 25 | $322.4M | $596.0M | ||
| Q3 25 | — | $1.0B | ||
| Q2 25 | $356.6M | $-118.0M | ||
| Q1 25 | — | $-169.0M | ||
| Q4 24 | $40.9M | $923.0M | ||
| Q3 24 | — | $1.0B | ||
| Q2 24 | $-125.5M | $698.0M | ||
| Q1 24 | — | $-153.0M |
| Q4 25 | 13.0% | 12.4% | ||
| Q3 25 | — | 21.1% | ||
| Q2 25 | 20.1% | -3.1% | ||
| Q1 25 | — | -4.0% | ||
| Q4 24 | 3.0% | 25.2% | ||
| Q3 24 | — | 23.4% | ||
| Q2 24 | -13.9% | 19.4% | ||
| Q1 24 | — | -4.8% |
| Q4 25 | 0.0% | 17.4% | ||
| Q3 25 | — | 9.6% | ||
| Q2 25 | 0.3% | 18.4% | ||
| Q1 25 | — | 18.1% | ||
| Q4 24 | 0.1% | 11.7% | ||
| Q3 24 | — | 15.8% | ||
| Q2 24 | 0.1% | 13.8% | ||
| Q1 24 | — | 14.7% |
| Q4 25 | 0.37× | 6.15× | ||
| Q3 25 | — | 2.25× | ||
| Q2 25 | 0.87× | 1.75× | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.05× | 3.07× | ||
| Q3 24 | — | 0.90× | ||
| Q2 24 | — | 3.28× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ARGX
Segment breakdown not available.
VST
| Retail Energy Charge In ERCOT | $2.1B | 43% |
| Retail Energy Charge In Northeast Midwest | $1.2B | 24% |
| East Segment | $1.1B | 24% |
| Hedging Revenue Realized | $170.0M | 4% |
| Revenue From Other Wholesale Contracts | $116.0M | 2% |
| Transferable Production Tax Credit Revenues | $78.0M | 2% |
| West Segment | $77.0M | 2% |
| Intersegment Sales | $25.0M | 1% |
