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Side-by-side financial comparison of EMCOR Group, Inc. (EME) 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 $4.6B, roughly 1.0× EMCOR Group, Inc.). EMCOR Group, Inc. runs the higher net margin — 6.6% vs 4.8%, a 1.8% gap on every dollar of revenue. On growth, Vistra Corp. posted the faster year-over-year revenue change (31.2% vs 19.7%). Over the past eight quarters, Vistra Corp.'s revenue compounded faster (23.3% CAGR vs 12.3%).
EMCOR Group, Inc., is an engineering, construction, and property management company headquartered in Norwalk, Connecticut.
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
EME vs VST — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $4.6B | $4.8B |
| Net Profit | $305.5M | $233.0M |
| Gross Margin | 18.7% | — |
| Operating Margin | 8.7% | 9.9% |
| Net Margin | 6.6% | 4.8% |
| Revenue YoY | 19.7% | 31.2% |
| Net Profit YoY | 26.9% | -47.2% |
| EPS (diluted) | $6.84 | $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.
| Q1 26 | $4.6B | — | ||
| Q4 25 | $4.5B | $4.8B | ||
| Q3 25 | $4.3B | $4.8B | ||
| Q2 25 | $4.3B | $3.8B | ||
| Q1 25 | $3.9B | $4.3B | ||
| Q4 24 | $3.8B | $3.7B | ||
| Q3 24 | $3.7B | $4.3B | ||
| Q2 24 | $3.7B | $3.6B |
| Q1 26 | $305.5M | — | ||
| Q4 25 | $434.6M | $233.0M | ||
| Q3 25 | $295.4M | $652.0M | ||
| Q2 25 | $302.2M | $327.0M | ||
| Q1 25 | $240.7M | $-268.0M | ||
| Q4 24 | $292.2M | $441.0M | ||
| Q3 24 | $270.3M | $1.9B | ||
| Q2 24 | $247.6M | $365.0M |
| Q1 26 | 18.7% | — | ||
| Q4 25 | 19.7% | — | ||
| Q3 25 | 19.4% | — | ||
| Q2 25 | 19.4% | — | ||
| Q1 25 | 18.7% | — | ||
| Q4 24 | 20.1% | — | ||
| Q3 24 | 19.9% | — | ||
| Q2 24 | 18.7% | — |
| Q1 26 | 8.7% | — | ||
| Q4 25 | 12.7% | 9.9% | ||
| Q3 25 | 9.4% | 21.7% | ||
| Q2 25 | 9.6% | 13.7% | ||
| Q1 25 | 8.2% | -2.8% | ||
| Q4 24 | 10.3% | 16.4% | ||
| Q3 24 | 9.8% | 59.6% | ||
| Q2 24 | 9.1% | 22.5% |
| Q1 26 | 6.6% | — | ||
| Q4 25 | 9.6% | 4.8% | ||
| Q3 25 | 6.9% | 13.6% | ||
| Q2 25 | 7.0% | 8.7% | ||
| Q1 25 | 6.2% | -6.3% | ||
| Q4 24 | 7.7% | 12.0% | ||
| Q3 24 | 7.3% | 43.5% | ||
| Q2 24 | 6.8% | 10.1% |
| Q1 26 | $6.84 | — | ||
| Q4 25 | $9.64 | $0.55 | ||
| Q3 25 | $6.57 | $1.75 | ||
| Q2 25 | $6.72 | $0.81 | ||
| Q1 25 | $5.26 | $-0.93 | ||
| Q4 24 | $6.30 | $1.09 | ||
| Q3 24 | $5.80 | $5.25 | ||
| Q2 24 | $5.25 | $0.90 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $916.4M | $785.0M |
| Total DebtLower is stronger | — | $15.8B |
| Stockholders' EquityBook value | $3.9B | $5.1B |
| Total Assets | $9.5B | $41.5B |
| Debt / EquityLower = less leverage | — | 3.11× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $916.4M | — | ||
| Q4 25 | $1.1B | $785.0M | ||
| Q3 25 | $655.1M | $602.0M | ||
| Q2 25 | $486.0M | $458.0M | ||
| Q1 25 | $576.7M | $561.0M | ||
| Q4 24 | $1.3B | $1.2B | ||
| Q3 24 | $1.0B | $905.0M | ||
| Q2 24 | $807.3M | $1.6B |
| Q1 26 | — | — | ||
| 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 | — | $13.9B |
| Q1 26 | $3.9B | — | ||
| Q4 25 | $3.7B | $5.1B | ||
| Q3 25 | $3.3B | $5.2B | ||
| Q2 25 | $3.1B | $4.8B | ||
| Q1 25 | $2.9B | $4.8B | ||
| Q4 24 | $2.9B | $5.6B | ||
| Q3 24 | $2.8B | $5.4B | ||
| Q2 24 | $2.7B | $5.6B |
| Q1 26 | $9.5B | — | ||
| Q4 25 | $9.3B | $41.5B | ||
| Q3 25 | $8.6B | $38.0B | ||
| Q2 25 | $8.4B | $38.1B | ||
| Q1 25 | $8.1B | $38.2B | ||
| Q4 24 | $7.7B | $37.8B | ||
| Q3 24 | $7.3B | $37.9B | ||
| Q2 24 | $7.1B | $39.1B |
| Q1 26 | — | — | ||
| 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 | — | 2.49× |
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 | $558.0K | $1.4B |
| Free Cash FlowOCF − Capex | — | $596.0M |
| FCF MarginFCF / Revenue | — | 12.4% |
| Capex IntensityCapex / Revenue | — | 17.4% |
| Cash ConversionOCF / Net Profit | 0.00× | 6.15× |
| TTM Free Cash FlowTrailing 4 quarters | — | $1.3B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $558.0K | — | ||
| Q4 25 | $524.4M | $1.4B | ||
| Q3 25 | $475.5M | $1.5B | ||
| Q2 25 | $193.7M | $572.0M | ||
| Q1 25 | $108.5M | $599.0M | ||
| Q4 24 | $469.5M | $1.4B | ||
| Q3 24 | $526.4M | $1.7B | ||
| Q2 24 | $279.7M | $1.2B |
| Q1 26 | — | — | ||
| Q4 25 | $492.5M | $596.0M | ||
| Q3 25 | $448.8M | $1.0B | ||
| Q2 25 | $165.6M | $-118.0M | ||
| Q1 25 | $82.3M | $-169.0M | ||
| Q4 24 | $451.8M | $923.0M | ||
| Q3 24 | $508.7M | $1.0B | ||
| Q2 24 | $260.4M | $698.0M |
| Q1 26 | — | — | ||
| Q4 25 | 10.9% | 12.4% | ||
| Q3 25 | 10.4% | 21.1% | ||
| Q2 25 | 3.8% | -3.1% | ||
| Q1 25 | 2.1% | -4.0% | ||
| Q4 24 | 12.0% | 25.2% | ||
| Q3 24 | 13.8% | 23.4% | ||
| Q2 24 | 7.1% | 19.4% |
| Q1 26 | — | — | ||
| Q4 25 | 0.7% | 17.4% | ||
| Q3 25 | 0.6% | 9.6% | ||
| Q2 25 | 0.7% | 18.4% | ||
| Q1 25 | 0.7% | 18.1% | ||
| Q4 24 | 0.5% | 11.7% | ||
| Q3 24 | 0.5% | 15.8% | ||
| Q2 24 | 0.5% | 13.8% |
| Q1 26 | 0.00× | — | ||
| Q4 25 | 1.21× | 6.15× | ||
| Q3 25 | 1.61× | 2.25× | ||
| Q2 25 | 0.64× | 1.75× | ||
| Q1 25 | 0.45× | — | ||
| Q4 24 | 1.61× | 3.07× | ||
| Q3 24 | 1.95× | 0.90× | ||
| Q2 24 | 1.13× | 3.28× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
EME
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% |
