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Side-by-side financial comparison of Macy's, Inc. (M) 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 $4.7B, roughly 1.0× Macy's, Inc.). Vistra Corp. runs the higher net margin — 4.8% vs 0.2%, a 4.6% gap on every dollar of revenue. On growth, Vistra Corp. posted the faster year-over-year revenue change (31.2% vs -0.6%). Vistra Corp. produced more free cash flow last quarter ($596.0M vs $-101.0M). Over the past eight quarters, Vistra Corp.'s revenue compounded faster (23.3% CAGR vs -23.8%).
Macy's, Inc. is an American holding company of department stores. Upon its establishment in 1929, Federated held ownership of the regional department store chains Abraham & Straus, Lazarus, Filene's, and Shillito's. Bloomingdale's joined Federated Department Stores the next year. Throughout its early history, frequent acquisitions and divestitures saw the company operate a number of nameplates. In 1994, Federated took over Macy's, the old department store chain originally founded in 1858 by A...
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
M vs VST — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $4.7B | $4.8B |
| Net Profit | $11.0M | $233.0M |
| Gross Margin | 39.4% | — |
| Operating Margin | 0.9% | 9.9% |
| Net Margin | 0.2% | 4.8% |
| Revenue YoY | -0.6% | 31.2% |
| Net Profit YoY | -60.7% | -47.2% |
| EPS (diluted) | $0.04 | $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 | $4.7B | $4.8B | ||
| Q3 25 | $4.8B | $4.8B | ||
| Q2 25 | $4.6B | $3.8B | ||
| Q1 25 | $7.8B | $4.3B | ||
| Q4 24 | $4.7B | $3.7B | ||
| Q3 24 | $4.9B | $4.3B | ||
| Q2 24 | $4.8B | $3.6B | ||
| Q1 24 | $8.1B | $3.2B |
| Q4 25 | $11.0M | $233.0M | ||
| Q3 25 | $87.0M | $652.0M | ||
| Q2 25 | $38.0M | $327.0M | ||
| Q1 25 | $342.0M | $-268.0M | ||
| Q4 24 | $28.0M | $441.0M | ||
| Q3 24 | $150.0M | $1.9B | ||
| Q2 24 | $62.0M | $365.0M | ||
| Q1 24 | $-71.0M | $-35.0M |
| Q4 25 | 39.4% | — | ||
| Q3 25 | 39.7% | — | ||
| Q2 25 | 39.2% | — | ||
| Q1 25 | 35.7% | — | ||
| Q4 24 | 39.6% | — | ||
| Q3 24 | 40.5% | — | ||
| Q2 24 | 39.2% | — | ||
| Q1 24 | 37.5% | — |
| Q4 25 | 0.9% | 9.9% | ||
| Q3 25 | 3.1% | 21.7% | ||
| Q2 25 | 2.0% | 13.7% | ||
| Q1 25 | 6.4% | -2.8% | ||
| Q4 24 | 1.3% | 16.4% | ||
| Q3 24 | 4.5% | 59.6% | ||
| Q2 24 | 2.6% | 22.5% | ||
| Q1 24 | -0.9% | 2.7% |
| Q4 25 | 0.2% | 4.8% | ||
| Q3 25 | 1.8% | 13.6% | ||
| Q2 25 | 0.8% | 8.7% | ||
| Q1 25 | 4.4% | -6.3% | ||
| Q4 24 | 0.6% | 12.0% | ||
| Q3 24 | 3.0% | 43.5% | ||
| Q2 24 | 1.3% | 10.1% | ||
| Q1 24 | -0.9% | -1.1% |
| Q4 25 | $0.04 | $0.55 | ||
| Q3 25 | $0.31 | $1.75 | ||
| Q2 25 | $0.13 | $0.81 | ||
| Q1 25 | $1.22 | $-0.93 | ||
| Q4 24 | $0.10 | $1.09 | ||
| Q3 24 | $0.53 | $5.25 | ||
| Q2 24 | $0.22 | $0.90 | ||
| Q1 24 | $-0.25 | $-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 | $447.0M | $785.0M |
| Total DebtLower is stronger | $2.4B | $15.8B |
| Stockholders' EquityBook value | $4.3B | $5.1B |
| Total Assets | $17.1B | $41.5B |
| Debt / EquityLower = less leverage | 0.56× | 3.11× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $447.0M | $785.0M | ||
| Q3 25 | $829.0M | $602.0M | ||
| Q2 25 | $932.0M | $458.0M | ||
| Q1 25 | $1.3B | $561.0M | ||
| Q4 24 | $315.0M | $1.2B | ||
| Q3 24 | $646.0M | $905.0M | ||
| Q2 24 | $876.0M | $1.6B | ||
| Q1 24 | $1.0B | $1.1B |
| Q4 25 | $2.4B | $15.8B | ||
| Q3 25 | $2.4B | $15.8B | ||
| Q2 25 | $2.8B | $15.5B | ||
| Q1 25 | $2.8B | $15.4B | ||
| Q4 24 | $2.8B | $15.4B | ||
| Q3 24 | $3.0B | $13.9B | ||
| Q2 24 | $3.0B | $13.9B | ||
| Q1 24 | $3.0B | $14.7B |
| Q4 25 | $4.3B | $5.1B | ||
| Q3 25 | $4.5B | $5.2B | ||
| Q2 25 | $4.5B | $4.8B | ||
| Q1 25 | $4.6B | $4.8B | ||
| Q4 24 | $4.1B | $5.6B | ||
| Q3 24 | $4.3B | $5.4B | ||
| Q2 24 | $4.2B | $5.6B | ||
| Q1 24 | $4.1B | $5.7B |
| Q4 25 | $17.1B | $41.5B | ||
| Q3 25 | $15.6B | $38.0B | ||
| Q2 25 | $16.1B | $38.1B | ||
| Q1 25 | $16.4B | $38.2B | ||
| Q4 24 | $17.3B | $37.8B | ||
| Q3 24 | $15.8B | $37.9B | ||
| Q2 24 | $16.4B | $39.1B | ||
| Q1 24 | $16.2B | $38.2B |
| Q4 25 | 0.56× | 3.11× | ||
| Q3 25 | 0.55× | 3.02× | ||
| Q2 25 | 0.62× | 3.22× | ||
| Q1 25 | 0.61× | 3.20× | ||
| Q4 24 | 0.67× | 2.77× | ||
| Q3 24 | 0.70× | 2.56× | ||
| Q2 24 | 0.72× | 2.49× | ||
| Q1 24 | 0.72× | 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 | $-8.0M | $1.4B |
| Free Cash FlowOCF − Capex | $-101.0M | $596.0M |
| FCF MarginFCF / Revenue | -2.1% | 12.4% |
| Capex IntensityCapex / Revenue | 2.0% | 17.4% |
| Cash ConversionOCF / Net Profit | -0.73× | 6.15× |
| TTM Free Cash FlowTrailing 4 quarters | $1.2B | $1.3B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-8.0M | $1.4B | ||
| Q3 25 | $319.0M | $1.5B | ||
| Q2 25 | $-64.0M | $572.0M | ||
| Q1 25 | $1.3B | $599.0M | ||
| Q4 24 | $-167.0M | $1.4B | ||
| Q3 24 | $8.0M | $1.7B | ||
| Q2 24 | $129.0M | $1.2B | ||
| Q1 24 | $1.1B | $312.0M |
| Q4 25 | $-101.0M | $596.0M | ||
| Q3 25 | $240.0M | $1.0B | ||
| Q2 25 | $-164.0M | $-118.0M | ||
| Q1 25 | $1.2B | $-169.0M | ||
| Q4 24 | $-295.0M | $923.0M | ||
| Q3 24 | $-109.0M | $1.0B | ||
| Q2 24 | $-25.0M | $698.0M | ||
| Q1 24 | $1.0B | $-153.0M |
| Q4 25 | -2.1% | 12.4% | ||
| Q3 25 | 5.0% | 21.1% | ||
| Q2 25 | -3.6% | -3.1% | ||
| Q1 25 | 15.3% | -4.0% | ||
| Q4 24 | -6.2% | 25.2% | ||
| Q3 24 | -2.2% | 23.4% | ||
| Q2 24 | -0.5% | 19.4% | ||
| Q1 24 | 12.3% | -4.8% |
| Q4 25 | 2.0% | 17.4% | ||
| Q3 25 | 1.6% | 9.6% | ||
| Q2 25 | 2.2% | 18.4% | ||
| Q1 25 | 1.5% | 18.1% | ||
| Q4 24 | 2.7% | 11.7% | ||
| Q3 24 | 2.4% | 15.8% | ||
| Q2 24 | 3.2% | 13.8% | ||
| Q1 24 | 1.8% | 14.7% |
| Q4 25 | -0.73× | 6.15× | ||
| Q3 25 | 3.67× | 2.25× | ||
| Q2 25 | -1.68× | 1.75× | ||
| Q1 25 | 3.82× | — | ||
| Q4 24 | -5.96× | 3.07× | ||
| Q3 24 | 0.05× | 0.90× | ||
| Q2 24 | 2.08× | 3.28× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
M
| Womens Accessories Shoes Cosmetics And Fragrances | $1.9B | 41% |
| Womens Apparel | $1.1B | 23% |
| Mens And Kids | $1.0B | 22% |
| Home Other | $638.0M | 14% |
| Credit Card Revenues Net | $158.0M | 3% |
| Macys Media Network Revenue Net | $42.0M | 1% |
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% |
