Vistra Corp. operates as a major U.S. integrated electricity company combining retail electricity sales with diverse generation assets including natural gas, coal, nuclear, solar, and storage across multiple wholesale markets. From 2022 to 2025, Vistra expanded revenues steadily but experienced a sharp decline in operating income and net income due to transient factors such as operational incidents and increased expenses. The company is actively executing long-term power purchase agreements with major tech firms for carbon-free power, expanding natural gas capacity through acquisitions, and planning nuclear uprates. Capital allocation reflects aggressive investments balanced by disciplined buybacks and dividends. Key risks include supply chain constraints and regulatory uncertainties that could impact execution.