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Vista Energy USD

At a glance: strengths & risks
✓Revenue growing (+102% y/y, Q2 2026)✓Profit growing (+42% y/y, Q2 2026)✗Margins compressing (85%→64%, Q2 2026)

Sector: Oil & gas

COMM_VIST

Price chart

65.35 USDDay -2.04%

Key metrics

Net debt (table and EV/EBITDA): |short-term borrowings| + |long-term borrowings| + |other financial liabilities| when extracted + |non-controlling interest| when extracted − |cash and equivalents|; amounts in millions of the reporting currency.

Market

Price
65.35 USD · -2.04%
Market cap
6.3 bn USD

Growth

Δ revenue y/y
102.3%
Δ EBITDA y/y
106.5%

Multiples

P/E (LTM)
7.4x
P/B (FY)
2.5x
P/E (ann.)
4.7x
EV/EBITDA (LTM)
4.5x
EV/EBITDA (ann.)
3.0x

Cash return

Dividend yield
—
FCF yield (LTM)
-17.0%

Value creation

to target market cap (spot commodity model)
Upside (potential)
+66.6%
↓ details

Liquidity

Daily turnover (listing)
60.3 mln USD

Shares: yahoo_fundamentals_timeseries/VIST

Financial results

Monetary columns are in M USD, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.

DatePeriodStatusRevenueM USDOperating profitM USDD&AM USDEBITDAM USDNet profitM USDOperating CFM USDCapex + M&AM USDAssetsM USDEquityM USDROE (annualized)Net debtM USDSource
2026-06-30Q2 2026 (3M)OK1234.9
y/y 102.3%
546.4
y/y 148.4%
273.2
y/y 54.4%
819.5
y/y 106.5%
333.0
y/y 41.5%
987.2-887.99310.2
y/y 53.5%
3335.4
y/y 57.0%
44.9%3543.3Yahoo Finance
2026-03-31Q1 2026 (3M)OK865.0
y/y —
216.1
y/y —
229.7
y/y —
445.8
y/y —
107.7
y/y —
85.7-427.17720.4
y/y —
2599.5
y/y —
16.9%3403.0Yahoo Finance
2025-12-31Q4 2025 (3M)OK719.1
y/y —
213.9
y/y —
225.1
y/y —
439.0
y/y —
85.7
y/y —
435.3-359.77112.9
y/y 68.1%
2511.6
y/y 54.9%
29.2%2821.1Yahoo Finance
2025-09-30Q3 2025 (3M)OK706.1
y/y —
252.3
y/y —
210.9
y/y —
463.2
y/y —
315.3
y/y —
303.9-332.76739.3
y/y —
2407.6
y/y —
18.6%2761.0Yahoo Finance
2025-06-30Q2 2025 (3M)OK610.5
y/y —
220.0
y/y —
176.9
y/y —
396.9
y/y —
235.3
y/y —
-9.4-1346.86065.1
y/y —
2124.6
y/y —
50.3%2525.9Yahoo Finance
2024-12-31FY 2024 (12M)PARTIAL1647.8
y/y 41.0%
625.4
y/y -1.0%
437.7
y/y 58.3%
1063.1
y/y 17.1%
477.5
y/y 20.3%
959.0—4232.4
y/y 62.9%
1621.2
y/y 30.0%
33.3%—Yahoo Finance
2023-12-31FY 2023 (12M)PARTIAL1168.8
y/y —
631.5
y/y —
276.4
y/y —
907.9
y/y —
397.0
y/y —
712.0—2598.0
y/y —
1247.0
y/y —
——Yahoo Finance

Net debt structure (leases included, IFRS 16) 2026-06-30

Short-term debt (incl. ST leases)696
Long-term debt (incl. LT leases)2 966
− Cash & equivalents118
Net debt3 543

Net debt / LTM EBITDA: 1.6x

Revenue & EBITDA

RevenueEBITDA

Quarterly values ($ mln)

05001 0001 5002023 FY2024 FY2025 q22025 q32025 q42026 q12026 q2

Year-over-year change

0%50%100%2023 FY2024 FY2025 q22025 q32025 q42026 q12026 q2

Cash flow

FCF ($ mln)

-1 500-1 000-50002023 FY2024 FY2025 q22025 q32025 q42026 q12026 q2

Net debt / cash ($ mln)

01 0002 0003 0004 0002023 FY2024 FY2025 q22025 q32025 q42026 q12026 q2

Operating statistics

Production indicators — supplementary, not part of the financial statements

PeriodProduction
boe/d		Realized price
USD $/bbl		Operating cost
USD $/boe
Q2 2026-06156 061
+32.2%		89.40
+43.7%		4.50
−4.3%
Q1 2026-03134 74160.104.30
Q4 2025-12135 414
+58.8%		58.90
−12.2%		4.10
FY 2025-12115 479
+65.8%		62.90
−9.1%		4.40
−4.3%
Q3 2025-09126 75264.60—
Q2 2025-06118 01862.204.70
Q4 2024-1285 27667.10—
FY 2024-1269 66069.204.60

Company reports (PLR coverage review 2026-10-01), extracted with DeepSeek and every number checked against the document text: https://www.sec.gov/Archives/edgar/data/1762506/000119312526045516/d68075d6k.htm; https://www.sec.gov/Archives/edgar/data/1762506/000119312526071646/d946648dex1.htm; https://www.sec.gov/Archives/edgar/data/1762506/000119312526187099/d936340d20f.htm; https://www.sec.gov/Archives/edgar/data/1762506/000119312526306139/d151775dex1.htm; https://www.sec.gov/Archives/edgar/data/1762506/000119312526306731/d101768dex1.htm

Production & Reserves

Physical operating metrics — supplementary, not part of the financial statements

Proved reserves
588.10 mln boe (1P)
2025
Reserve life (R/P)
14.0 yrs
reserves ÷ annual output
Annual production
42.15 mln boe
2025

Production, mln boe

25.43202442.152025

Proved reserves

YearReserves, mln boe (1P)
2025588.10
2024375.20

Production

YearProduction, mln boeper day, mln boe
202542.15
+65.8%		0.12
202425.430.07

Company reports: https://www.sec.gov/Archives/edgar/data/1762506/000119312526045516/d68075d6k.htm; https://www.sec.gov/Archives/edgar/data/1762506/000119312526071646/d946648dex1.htm; https://www.sec.gov/Archives/edgar/data/1762506/000119312526187099/d936340d20f.htm; https://www.sec.gov/Archives/edgar/data/1762506/000119312526306139/d151775dex1.htm; https://www.sec.gov/Archives/edgar/data/1762506/000119312526306731/d101768dex1.htm

Key-commodity price — Brent

Current 98spot vs LTM +28%

Commodity-player potential

Target market cap from conservative EBITDA and the historical EV/EBITDA

Upside: +66.6% ▼ -5.1 pp 1d

Main driver: Brent +28% vs LTM; revenue ×1.25 vs costs ×1.04; EBITDA 2 393→2 874; at 4.8× EV/EBITDA → +67%.

Product prices — moves vs the LTM average

CommodityShareSpotLTM3-yrvs LTM, $3y vs LTM
Brent (rev)+92%97.6676.5180.81+28%+6%
Henry Hub Gas (rev)+4%3.013.383.12-11%-8%

How it is calculated — revenue → costs → EBITDA → target market cap

1 · Reported baseline (LTM)
LTM revenue3 525
LTM EBITDA2 393
LTM cash costs (revenue − EBITDA)1 132
2 · Revenue projection
Revenue multiplier — spot×1.250 (+25%)
= Spot revenue4 406
Revenue multiplier — 3y price×1.049 (+5%)
= 3-year-price revenue3 697
3 · Costs projection
Cost multiplier — spot×1.040 (+4%)
= Spot cash costs1 178
Cost multiplier — 3y price×1.040 (+4%)
= 3-year-price cash costs1 178
4 · EBITDA projection (revenue − costs)
= Spot EBITDA3 229
= 3-year-price EBITDA2 519
Conservative EBITDA = min(spot, avg)2 874
5 · Valuation → target market cap
Historical EV/EBITDA (75th pct, realized earnings)4.8x
Target EV = EV/EBITDA × conservative EBITDA13 910
Net debt3 543
Target market cap = EV − net debt10 439
Current market cap6 267

Upside = target market cap ÷ current − 1 = +66.6%

Spot model vs reported — what the spot model projected (trailing-LTM base brought to the period × the period's commodity-price move) against the actual report, per reported period (quarter, half-year or full year — per the filer's calendar); amounts in USD mln. green = reported above projection, pink = below.

PeriodAct. revModel revΔ revAct. EBITDAModel EBITDAΔ EBITDA
2021 FY665439+51.5%402235+71.0%
2022 FY1 188928+28.0%764654+16.9%
2023 FY1 169977+19.7%908536+69.3%
2024 FY1 6481 132+45.6%1 063861+23.5%
2025 FY2 4741 460+69.4%1 973852+131.5%

EV/EBITDA — LTM vs projected

Projected EV/EBITDA 9.3x · target 75th pct (3y) 8.4x · LTM avg 4.8x

EV/EBITDA (LTM)EV/EBITDA (projected)target 75th pct (projected, 3y)

Dividends

No dividend rows found for this issuer (checked: Yahoo Finance (ex-div)).

Reporting forms detected in loaded periods: ✓ ✓ ✓ (Balance sheet / Profit or loss (P&L) / Cash flows)

Financial results, valuation multiples (P/E, P/B, EV/EBITDA), profitability and dividend yield of Vista Energy — from primary filings.

Frequently asked questions

What is Vista Energy's P/E ratio?
Vista Energy trades at a P/E of 7.4x (price to trailing 12-month earnings).
What is Vista Energy's EV/EBITDA?
Vista Energy trades at 4.5x EV/EBITDA.
What is Vista Energy's P/B ratio?
Vista Energy trades at a P/B of 2.5x.
What is Vista Energy's return on equity (ROE)?
Vista Energy's ROE is 44.9%.
What is Vista Energy's market capitalization?
Vista Energy's market cap is 6.3 bn USD.

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