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Side-by-side financial comparison of Huntington Ingalls Industries (HII) 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 $3.5B, roughly 1.4× Huntington Ingalls Industries). Vistra Corp. runs the higher net margin — 4.8% vs 4.6%, a 0.3% gap on every dollar of revenue. On growth, Vistra Corp. posted the faster year-over-year revenue change (31.2% vs 15.7%). Vistra Corp. produced more free cash flow last quarter ($596.0M vs $516.0M). Over the past eight quarters, Vistra Corp.'s revenue compounded faster (23.3% CAGR vs 11.3%).
Huntington Ingalls Industries, Inc. (HII) is the largest military shipbuilding company in the United States as well as a provider of professional services to partners in government and industry. HII was formed on 31 March 2011, as a divestiture from Northrop Grumman.
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
HII vs VST — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $3.5B | $4.8B |
| Net Profit | $159.0M | $233.0M |
| Gross Margin | — | — |
| Operating Margin | 4.9% | 9.9% |
| Net Margin | 4.6% | 4.8% |
| Revenue YoY | 15.7% | 31.2% |
| Net Profit YoY | 29.3% | -47.2% |
| EPS (diluted) | $4.06 | $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 | $3.5B | $4.8B | ||
| Q3 25 | $3.2B | $4.8B | ||
| Q2 25 | $3.1B | $3.8B | ||
| Q1 25 | $2.7B | $4.3B | ||
| Q4 24 | $3.0B | $3.7B | ||
| Q3 24 | $2.7B | $4.3B | ||
| Q2 24 | $3.0B | $3.6B | ||
| Q1 24 | $2.8B | $3.2B |
| Q4 25 | $159.0M | $233.0M | ||
| Q3 25 | $145.0M | $652.0M | ||
| Q2 25 | $152.0M | $327.0M | ||
| Q1 25 | $149.0M | $-268.0M | ||
| Q4 24 | $123.0M | $441.0M | ||
| Q3 24 | $101.0M | $1.9B | ||
| Q2 24 | $173.0M | $365.0M | ||
| Q1 24 | $153.0M | $-35.0M |
| Q4 25 | 4.9% | 9.9% | ||
| Q3 25 | 5.0% | 21.7% | ||
| Q2 25 | 5.3% | 13.7% | ||
| Q1 25 | 5.9% | -2.8% | ||
| Q4 24 | 3.7% | 16.4% | ||
| Q3 24 | 3.0% | 59.6% | ||
| Q2 24 | 6.3% | 22.5% | ||
| Q1 24 | 5.5% | 2.7% |
| Q4 25 | 4.6% | 4.8% | ||
| Q3 25 | 4.5% | 13.6% | ||
| Q2 25 | 4.9% | 8.7% | ||
| Q1 25 | 5.4% | -6.3% | ||
| Q4 24 | 4.1% | 12.0% | ||
| Q3 24 | 3.7% | 43.5% | ||
| Q2 24 | 5.8% | 10.1% | ||
| Q1 24 | 5.5% | -1.1% |
| Q4 25 | $4.06 | $0.55 | ||
| Q3 25 | $3.68 | $1.75 | ||
| Q2 25 | $3.86 | $0.81 | ||
| Q1 25 | $3.79 | $-0.93 | ||
| Q4 24 | $3.15 | $1.09 | ||
| Q3 24 | $2.56 | $5.25 | ||
| Q2 24 | $4.38 | $0.90 | ||
| Q1 24 | $3.87 | $-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 | — | $785.0M |
| Total DebtLower is stronger | $2.7B | $15.8B |
| Stockholders' EquityBook value | $5.1B | $5.1B |
| Total Assets | $12.7B | $41.5B |
| Debt / EquityLower = less leverage | 0.53× | 3.11× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $785.0M | ||
| Q3 25 | — | $602.0M | ||
| Q2 25 | — | $458.0M | ||
| Q1 25 | — | $561.0M | ||
| Q4 24 | — | $1.2B | ||
| Q3 24 | — | $905.0M | ||
| Q2 24 | — | $1.6B | ||
| Q1 24 | $10.0M | $1.1B |
| Q4 25 | $2.7B | $15.8B | ||
| Q3 25 | — | $15.8B | ||
| Q2 25 | — | $15.5B | ||
| Q1 25 | — | $15.4B | ||
| Q4 24 | $2.7B | $15.4B | ||
| Q3 24 | — | $13.9B | ||
| Q2 24 | — | $13.9B | ||
| Q1 24 | — | $14.7B |
| Q4 25 | $5.1B | $5.1B | ||
| Q3 25 | $5.0B | $5.2B | ||
| Q2 25 | $4.9B | $4.8B | ||
| Q1 25 | $4.8B | $4.8B | ||
| Q4 24 | $4.7B | $5.6B | ||
| Q3 24 | $4.2B | $5.4B | ||
| Q2 24 | $4.2B | $5.6B | ||
| Q1 24 | $4.1B | $5.7B |
| Q4 25 | $12.7B | $41.5B | ||
| Q3 25 | $12.3B | $38.0B | ||
| Q2 25 | $12.1B | $38.1B | ||
| Q1 25 | $12.1B | $38.2B | ||
| Q4 24 | $12.1B | $37.8B | ||
| Q3 24 | $11.1B | $37.9B | ||
| Q2 24 | $11.3B | $39.1B | ||
| Q1 24 | $11.2B | $38.2B |
| Q4 25 | 0.53× | 3.11× | ||
| Q3 25 | — | 3.02× | ||
| Q2 25 | — | 3.22× | ||
| Q1 25 | — | 3.20× | ||
| Q4 24 | 0.58× | 2.77× | ||
| Q3 24 | — | 2.56× | ||
| Q2 24 | — | 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 | $650.0M | $1.4B |
| Free Cash FlowOCF − Capex | $516.0M | $596.0M |
| FCF MarginFCF / Revenue | 14.8% | 12.4% |
| Capex IntensityCapex / Revenue | 3.9% | 17.4% |
| Cash ConversionOCF / Net Profit | 4.09× | 6.15× |
| TTM Free Cash FlowTrailing 4 quarters | $794.0M | $1.3B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $650.0M | $1.4B | ||
| Q3 25 | $118.0M | $1.5B | ||
| Q2 25 | $823.0M | $572.0M | ||
| Q1 25 | $-395.0M | $599.0M | ||
| Q4 24 | $391.0M | $1.4B | ||
| Q3 24 | $213.0M | $1.7B | ||
| Q2 24 | $-9.0M | $1.2B | ||
| Q1 24 | $-202.0M | $312.0M |
| Q4 25 | $516.0M | $596.0M | ||
| Q3 25 | $13.0M | $1.0B | ||
| Q2 25 | $727.0M | $-118.0M | ||
| Q1 25 | $-462.0M | $-169.0M | ||
| Q4 24 | $277.0M | $923.0M | ||
| Q3 24 | $125.0M | $1.0B | ||
| Q2 24 | $-99.0M | $698.0M | ||
| Q1 24 | $-277.0M | $-153.0M |
| Q4 25 | 14.8% | 12.4% | ||
| Q3 25 | 0.4% | 21.1% | ||
| Q2 25 | 23.6% | -3.1% | ||
| Q1 25 | -16.9% | -4.0% | ||
| Q4 24 | 9.2% | 25.2% | ||
| Q3 24 | 4.5% | 23.4% | ||
| Q2 24 | -3.3% | 19.4% | ||
| Q1 24 | -9.9% | -4.8% |
| Q4 25 | 3.9% | 17.4% | ||
| Q3 25 | 3.3% | 9.6% | ||
| Q2 25 | 3.1% | 18.4% | ||
| Q1 25 | 2.5% | 18.1% | ||
| Q4 24 | 3.8% | 11.7% | ||
| Q3 24 | 3.2% | 15.8% | ||
| Q2 24 | 3.0% | 13.8% | ||
| Q1 24 | 2.7% | 14.7% |
| Q4 25 | 4.09× | 6.15× | ||
| Q3 25 | 0.81× | 2.25× | ||
| Q2 25 | 5.41× | 1.75× | ||
| Q1 25 | -2.65× | — | ||
| Q4 24 | 3.18× | 3.07× | ||
| Q3 24 | 2.11× | 0.90× | ||
| Q2 24 | -0.05× | 3.28× | ||
| Q1 24 | -1.32× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HII
| Aircraftcarriers | $984.0M | 28% |
| Fixedpriceincentive | $758.0M | 22% |
| Submarines | $744.0M | 21% |
| Surfacecombatantsandcoastguardcutters | $452.0M | 13% |
| Amphibiousassaultships | $433.0M | 12% |
| Costtype | $123.0M | 4% |
| Otherprograms | $4.0M | 0% |
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% |
