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Side-by-side financial comparison of Vistra Corp. (VST) and Workday, Inc. (WDAY). Click either name above to swap in a different company.
Vistra Corp. is the larger business by last-quarter revenue ($4.8B vs $2.4B, roughly 2.0× Workday, Inc.). Workday, Inc. runs the higher net margin — 10.4% vs 4.8%, a 5.5% gap on every dollar of revenue. On growth, Vistra Corp. posted the faster year-over-year revenue change (31.2% vs 12.6%). Vistra Corp. produced more free cash flow last quarter ($596.0M vs $550.0M). Over the past eight quarters, Vistra Corp.'s revenue compounded faster (23.3% CAGR vs 12.5%).
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
Workday, Inc. is a leading global enterprise cloud software provider that develops and distributes human capital management, financial management, and enterprise resource planning solutions. It caters primarily to mid-sized and large organizations across sectors including education, healthcare, finance, and technology, with operations spanning North America, Europe, and Asia Pacific.
VST vs WDAY — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $4.8B | $2.4B |
| Net Profit | $233.0M | $252.0M |
| Gross Margin | — | — |
| Operating Margin | 9.9% | 10.6% |
| Net Margin | 4.8% | 10.4% |
| Revenue YoY | 31.2% | 12.6% |
| Net Profit YoY | -47.2% | 30.6% |
| EPS (diluted) | $0.55 | $0.94 |
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 | $4.8B | $2.4B | ||
| Q3 25 | $4.8B | $2.3B | ||
| Q2 25 | $3.8B | $2.2B | ||
| Q1 25 | $4.3B | $2.2B | ||
| Q4 24 | $3.7B | $2.2B | ||
| Q3 24 | $4.3B | $2.1B | ||
| Q2 24 | $3.6B | $2.0B | ||
| Q1 24 | $3.2B | $1.9B |
| Q4 25 | $233.0M | $252.0M | ||
| Q3 25 | $652.0M | $228.0M | ||
| Q2 25 | $327.0M | $68.0M | ||
| Q1 25 | $-268.0M | $94.0M | ||
| Q4 24 | $441.0M | $193.0M | ||
| Q3 24 | $1.9B | $132.0M | ||
| Q2 24 | $365.0M | $107.0M | ||
| Q1 24 | $-35.0M | $1.2B |
| Q4 25 | 9.9% | 10.6% | ||
| Q3 25 | 21.7% | 10.6% | ||
| Q2 25 | 13.7% | 1.7% | ||
| Q1 25 | -2.8% | 3.4% | ||
| Q4 24 | 16.4% | 7.6% | ||
| Q3 24 | 59.6% | 5.3% | ||
| Q2 24 | 22.5% | 3.2% | ||
| Q1 24 | 2.7% | 4.1% |
| Q4 25 | 4.8% | 10.4% | ||
| Q3 25 | 13.6% | 9.7% | ||
| Q2 25 | 8.7% | 3.0% | ||
| Q1 25 | -6.3% | 4.3% | ||
| Q4 24 | 12.0% | 8.9% | ||
| Q3 24 | 43.5% | 6.3% | ||
| Q2 24 | 10.1% | 5.4% | ||
| Q1 24 | -1.1% | 61.8% |
| Q4 25 | $0.55 | $0.94 | ||
| Q3 25 | $1.75 | $0.84 | ||
| Q2 25 | $0.81 | $0.25 | ||
| Q1 25 | $-0.93 | $0.34 | ||
| Q4 24 | $1.09 | $0.72 | ||
| Q3 24 | $5.25 | $0.49 | ||
| Q2 24 | $0.90 | $0.40 | ||
| Q1 24 | $-0.24 | $4.48 |
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 | $6.8B |
| Total DebtLower is stronger | $15.8B | — |
| Stockholders' EquityBook value | $5.1B | $8.9B |
| Total Assets | $41.5B | $17.8B |
| Debt / EquityLower = less leverage | 3.11× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $785.0M | $6.8B | ||
| Q3 25 | $602.0M | $8.2B | ||
| Q2 25 | $458.0M | $8.0B | ||
| Q1 25 | $561.0M | $8.0B | ||
| Q4 24 | $1.2B | $7.2B | ||
| Q3 24 | $905.0M | $7.4B | ||
| Q2 24 | $1.6B | $7.2B | ||
| Q1 24 | $1.1B | $7.8B |
| 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 | $3.0B | ||
| Q1 24 | $14.7B | $3.0B |
| Q4 25 | $5.1B | $8.9B | ||
| Q3 25 | $5.2B | $9.2B | ||
| Q2 25 | $4.8B | $8.9B | ||
| Q1 25 | $4.8B | $9.0B | ||
| Q4 24 | $5.6B | $8.6B | ||
| Q3 24 | $5.4B | $8.3B | ||
| Q2 24 | $5.6B | $8.2B | ||
| Q1 24 | $5.7B | $8.1B |
| Q4 25 | $41.5B | $17.8B | ||
| Q3 25 | $38.0B | $18.0B | ||
| Q2 25 | $38.1B | $17.2B | ||
| Q1 25 | $38.2B | $18.0B | ||
| Q4 24 | $37.8B | $16.4B | ||
| Q3 24 | $37.9B | $16.2B | ||
| Q2 24 | $39.1B | $15.9B | ||
| Q1 24 | $38.2B | $16.5B |
| 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× | 0.37× | ||
| Q1 24 | 2.60× | 0.37× |
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 | $1.4B | $588.0M |
| Free Cash FlowOCF − Capex | $596.0M | $550.0M |
| FCF MarginFCF / Revenue | 12.4% | 22.6% |
| Capex IntensityCapex / Revenue | 17.4% | 1.6% |
| Cash ConversionOCF / Net Profit | 6.15× | 2.33× |
| TTM Free Cash FlowTrailing 4 quarters | $1.3B | $2.6B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.4B | $588.0M | ||
| Q3 25 | $1.5B | $616.0M | ||
| Q2 25 | $572.0M | $457.0M | ||
| Q1 25 | $599.0M | $1.1B | ||
| Q4 24 | $1.4B | $406.0M | ||
| Q3 24 | $1.7B | $571.0M | ||
| Q2 24 | $1.2B | $372.0M | ||
| Q1 24 | $312.0M | $995.6M |
| Q4 25 | $596.0M | $550.0M | ||
| Q3 25 | $1.0B | $588.0M | ||
| Q2 25 | $-118.0M | $421.0M | ||
| Q1 25 | $-169.0M | $1.0B | ||
| Q4 24 | $923.0M | $359.0M | ||
| Q3 24 | $1.0B | $516.0M | ||
| Q2 24 | $698.0M | $291.0M | ||
| Q1 24 | $-153.0M | $947.6M |
| Q4 25 | 12.4% | 22.6% | ||
| Q3 25 | 21.1% | 25.0% | ||
| Q2 25 | -3.1% | 18.8% | ||
| Q1 25 | -4.0% | 46.4% | ||
| Q4 24 | 25.2% | 16.6% | ||
| Q3 24 | 23.4% | 24.7% | ||
| Q2 24 | 19.4% | 14.6% | ||
| Q1 24 | -4.8% | 49.3% |
| Q4 25 | 17.4% | 1.6% | ||
| Q3 25 | 9.6% | 1.2% | ||
| Q2 25 | 18.4% | 1.6% | ||
| Q1 25 | 18.1% | 3.9% | ||
| Q4 24 | 11.7% | 2.2% | ||
| Q3 24 | 15.8% | 2.6% | ||
| Q2 24 | 13.8% | 4.1% | ||
| Q1 24 | 14.7% | 2.5% |
| Q4 25 | 6.15× | 2.33× | ||
| Q3 25 | 2.25× | 2.70× | ||
| Q2 25 | 1.75× | 6.72× | ||
| Q1 25 | — | 11.83× | ||
| Q4 24 | 3.07× | 2.10× | ||
| Q3 24 | 0.90× | 4.33× | ||
| Q2 24 | 3.28× | 3.48× | ||
| Q1 24 | — | 0.84× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
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% |
WDAY
| Subscription Services | $2.2B | 92% |
| Professional Services | $188.0M | 8% |
