VIST Energy

Vista Energy, S.A.B. de C.V.

$67.92+1.54%

Price as of close on Nov 3, 2026 · Financials updated Sep 30, 2026

Basics

Sector: Energy
Industry: Oil & Gas E&P
Country: Mexico
Market cap: 7.5B USD
Enterprise value: 10.1B USD
Full-time employees: 584

Overall health

Strength: more profitable than most peersmore profitable than peers
Strength: growing faster than most peersgrowing faster than peers
Strength: its shares are priced lower than most peers relative to what it earnspriced lower than peers for its earnings
Drawback: higher risk than most peers: less short-term liquidity (current ratio 0.86 vs a peer median of 1.37) and more debt relative to equity (1.26× vs a peer median of 0.47×)higher risk: less liquidity (current ratio 0.86 vs peers 1.37) and more debt vs equity (1.26× vs peers 0.47×)

Ranks #58 of 363 energy companies (top 16%)

See how it ranks against its peers

Worth knowing

Profitable, but burning cash. Reports a profit, but free cash flow is negative.
Vista Energy, S.A.B. de C.V. reports a profit but its free cash flow is negative: it spent more on investment and running the business than it brought in. That's common for companies building capacity, but it means the profit isn't yet turning into cash.
Paying shareholders without free cash flow. Paid out $150M over the 3 fiscal years to 2025 with -$729M of free cash flow.
Vista Energy, S.A.B. de C.V. returned $150M in buybacks and dividends over three fiscal years while its free cash flow totalled -$729M. The money came from its cash pile or from borrowing.
Shareholders being diluted. Shares outstanding up 18% from December 2022 to December 2025.
Vista Energy, S.A.B. de C.V. had 18% more shares at December 2025 than at December 2022, mostly from issuing stock (for pay, acquisitions or fundraising). Each existing share now owns a smaller slice of the business.Vista Energy, S.A.B. de C.V. had 18% more shares at December 2025 than at December 2022, mostly from issuing stock. Each existing share now owns a smaller slice of the business.
Stock pay is large next to buybacks. Stock-based pay expense $114M vs $150M spent repurchasing shares over the 3 fiscal years to 2025.
Over three fiscal years Vista Energy, S.A.B. de C.V. recorded $114M of stock-based pay expense and spent $150M repurchasing shares (repurchases can include shares withheld to cover employees' taxes).Over three fiscal years Vista Energy, S.A.B. de C.V. recorded $114M of stock-based pay expense and spent $150M repurchasing shares.

StockQuotient Score

68/ 100

Oct 5 69 → Nov 4 68 (-1)

Valuation

Is the price right?

72/100

Moderate

3/3 inputs reported · High confidence

Since last year: No major changeValuation also moves with the share price every day.

Why

Stronger than most peers on:

▲ Earnings yield
▲ EBITDA yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield10.2%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported value30% base weight · Z-score 1.41Sector median: 0.0522 · MAD: 0.0351

EBITDA yield20.5%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported value50% base weight · Z-score 1.62Sector median: 0.1209 · MAD: 0.0518

Free cash flow yield-9.3%

SEC filings (IFRS mapped) · 12 months to Dec 2025 · operating cash flow − capital spendingNegative (a loss or cash outflow), so it counts as zero whatever the share price20% base weight · Z-score -1.26Sector median: 0.0618 · MAD: 0.0491

Other data (not scored)

Book yield35.5%

SEC filings (IFRS mapped) · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.5851 · MAD: 0.2677

Growth

Is it growing?

95/100

Strong

3/3 inputs reported · High confidence

Since last year: ▲ Stronger

12-month revenue up 50.2%

Why

Stronger than most peers on:

▲ 3-yr revenue
▲ Revenue growth
▲ EPS growth

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growth37.6%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported value33% base weight · Z-score 1.06Sector median: 0.0107 · MAD: 0.3431

3-year revenue growth27.7%

SEC filings (IFRS mapped) · 3 years to Dec 2025Reported value33% base weight · Z-score 3.60Sector median: -0.0135 · MAD: 0.0807

Revenue growth50.2%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported value33% base weight · Z-score 4.51Sector median: 0.0050 · MAD: 0.1101

Profitability

Does it earn well?

93/100

Strong▲ 1 since Oct 27 close

3/3 inputs reported · High confidence

Since last year: ▲ Stronger

Operating margin rose 12.6 points to 50.6%

Why it changed since the Oct 27, 2026 close: Score 92 → 93

Peer companies moved+1

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Stronger than most peers on:

▲ Operating margin
▲ ROA
▲ ROIC

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin50.6%

SEC filings (IFRS mapped) · 12 months to Dec 2025Outlier capped at sector 5th/95th percentile33% base weight · Z-score 4.08Sector median: 0.1169 · MAD: 0.0936

Return on assets10.1%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported value33% base weight · Z-score 1.88Sector median: 0.0444 · MAD: 0.0302

Return on invested capital19.3%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported value33% base weight · Z-score 1.54Sector median: 0.0929 · MAD: 0.0648

Other data (not scored)

Gross margin47.5%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported valueInformational · 0% composite weightSector median: 0.3310 · MAD: 0.1935

Return on equity28.6%

SEC filings (IFRS mapped) · 12 months to Dec 2025Reported valueInformational · 0% composite weightSector median: 0.1014 · MAD: 0.0743

Risk

Debt, liquidity, price swings

Higher

Higher relative risk

2/3 inputs reported · Partial data

Since last year: Changed: worth a look

Debt up 118%

Why it changed since the Oct 27, 2026 close: Safety percentile 14 → 13

Peer companies moved-1

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Weaker than most peers on:

▼ Current ratio
▼ Debt / equity

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

BetaUnavailable

Missing · left out of the score · no sector data, so not countedNot counted · remaining weights rescaledSector median: 0.5680 · MAD: 0.2415

Current ratio0.86×

SEC filings (IFRS mapped) · latest balance sheetReported value33% base weight · Z-score -1.00Sector median: 1.3710 · MAD: 0.5060

Debt / equity1.26×

SEC filings (IFRS mapped) · latest balance sheetReported value33% base weight · Z-score -2.49Sector median: 0.4659 · MAD: 0.3175

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Vista Energy, S.A.B. de C.V.

Is Vista Energy, S.A.B. de C.V. getting weaker?: Its latest SEC filing (Apr 28, 2026) got stronger: operating margin rose 12.6 points to 50.6%; debt up 118%. Its overall score is unchanged at 68/100 since Oct 28, 2026.
How is Vista Energy, S.A.B. de C.V. valued vs its peers?: Priced lower than most peers relative to what it earns. Valuation scores 72/100 against 404 energy peers. Earnings yield 10.2% vs a peer median of 5.2% (stronger than 79% of peers).Earnings yield 10.2% vs peers 5.2% (stronger than 79% of peers). Free cash flow yield -9.3% vs a peer median of 6.2% (weaker than 100% of peers).Free cash flow yield -9.3% vs peers 6.2% (weaker than 100% of peers).
Is Vista Energy, S.A.B. de C.V. growing?: Yes, faster than most of its peers. Growth scores 95/100 against 404 energy peers. 3-year revenue growth 27.7% vs a peer median of -1.3% (stronger than 95% of peers).3-year revenue growth 27.7% vs peers -1.3% (stronger than 95% of peers).
How profitable is Vista Energy, S.A.B. de C.V.?: More profitable than most of its peers. Profitability scores 93/100 against 404 energy peers. Operating margin 50.6% vs a peer median of 11.7% (stronger than 95% of peers).Operating margin 50.6% vs peers 11.7% (stronger than 95% of peers).
How risky is Vista Energy, S.A.B. de C.V.?: Higher risk relative to 404 energy peers, judged on debt, liquidity and share-price swings. Current ratio 0.86× vs a peer median of 1.37× (weaker than 80% of peers).Current ratio 0.86× vs peers 1.37× (weaker than 80% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Year ended Dec 31, 2025 · filed Apr 28, 2026 · compared with the year ended Dec 31, 2024

Got stronger

Operating margin rose 12.6 points to 50.6%
Debt up 118%

	Previous year	Latest year	Change
Revenue (12 months)	1.6B USD	2.5B USD	+50.2%
Net income (12 months)	477.5M USD	719.1M USD	+50.6%
Operating margin	38.0%	50.6%	+12.6 pts
Free cash flow (12 months)	−93.5M USD	−659.2M USD	+605.0%
Debt	1.4B USD	3.2B USD	+117.7%
Cash	764.3M USD	538.4M USD	−29.6%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one year at a time.

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Gross margin	40.1%	53.1%	50.6%	49.6%	47.5%	▼ 2.1 pts
Operating margin	31.6%	44.6%	54.0%	38.0%	50.6%	▲ 13 pts
Net margin	7.6%	22.7%	34.0%	29.0%	29.1%	▲ 0.1 pts
Return on assets (ROA)	3.0%	13.2%	15.3%	11.3%	10.1%	▼ 1.2 pts
Return on equity (ROE)	9.0%	31.9%	31.8%	29.5%	28.6%	▼ 0.8 pts
Free cash flow margin	12.0%	17.7%	2.0%	-5.7%	-26.6%	▼ 21 pts
Current ratio	0.97×	0.85×	1.19×	0.99×	0.86×	▼ 13%
Quick ratio	0.94×	0.82×	1.16×	0.99×	0.86×	▼ 14%
Debt to equity	1.08×	0.65×	0.49×	0.89×	1.26×	▲ 41%
Interest coverage	4.16×	18.32×	28.86×	10.01×	7.66×	▼ 23%

VIST price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Overall health

Strength: more profitable than most peersmore profitable than peers

Strength: growing faster than most peersgrowing faster than peers

Strength: its shares are priced lower than most peers relative to what it earnspriced lower than peers for its earnings

Drawback: higher risk than most peers: less short-term liquidity (current ratio 0.86 vs a peer median of 1.37) and more debt relative to equity (1.26× vs a peer median of 0.47×)higher risk: less liquidity (current ratio 0.86 vs peers 1.37) and more debt vs equity (1.26× vs peers 0.47×)

Ranks #58 of 363 energy companies (top 16%)

See how it ranks against its peers

Worth knowing

Profitable, but burning cash. Reports a profit, but free cash flow is negative.

Vista Energy, S.A.B. de C.V. reports a profit but its free cash flow is negative: it spent more on investment and running the business than it brought in. That's common for companies building capacity, but it means the profit isn't yet turning into cash.

Paying shareholders without free cash flow. Paid out $150M over the 3 fiscal years to 2025 with -$729M of free cash flow.

Vista Energy, S.A.B. de C.V. returned $150M in buybacks and dividends over three fiscal years while its free cash flow totalled -$729M. The money came from its cash pile or from borrowing.

Shareholders being diluted. Shares outstanding up 18% from December 2022 to December 2025.

Vista Energy, S.A.B. de C.V. had 18% more shares at December 2025 than at December 2022, mostly from issuing stock (for pay, acquisitions or fundraising). Each existing share now owns a smaller slice of the business.Vista Energy, S.A.B. de C.V. had 18% more shares at December 2025 than at December 2022, mostly from issuing stock. Each existing share now owns a smaller slice of the business.

Stock pay is large next to buybacks. Stock-based pay expense $114M vs $150M spent repurchasing shares over the 3 fiscal years to 2025.

Over three fiscal years Vista Energy, S.A.B. de C.V. recorded $114M of stock-based pay expense and spent $150M repurchasing shares (repurchases can include shares withheld to cover employees' taxes).Over three fiscal years Vista Energy, S.A.B. de C.V. recorded $114M of stock-based pay expense and spent $150M repurchasing shares.

Questions investors ask about Vista Energy, S.A.B. de C.V.

Is Vista Energy, S.A.B. de C.V. getting weaker?

Its latest SEC filing (Apr 28, 2026) got stronger: operating margin rose 12.6 points to 50.6%; debt up 118%. Its overall score is unchanged at 68/100 since Oct 28, 2026.

How is Vista Energy, S.A.B. de C.V. valued vs its peers?

Priced lower than most peers relative to what it earns. Valuation scores 72/100 against 404 energy peers. Earnings yield 10.2% vs a peer median of 5.2% (stronger than 79% of peers).Earnings yield 10.2% vs peers 5.2% (stronger than 79% of peers). Free cash flow yield -9.3% vs a peer median of 6.2% (weaker than 100% of peers).Free cash flow yield -9.3% vs peers 6.2% (weaker than 100% of peers).

Is Vista Energy, S.A.B. de C.V. growing?

Yes, faster than most of its peers. Growth scores 95/100 against 404 energy peers. 3-year revenue growth 27.7% vs a peer median of -1.3% (stronger than 95% of peers).3-year revenue growth 27.7% vs peers -1.3% (stronger than 95% of peers).

How profitable is Vista Energy, S.A.B. de C.V.?

More profitable than most of its peers. Profitability scores 93/100 against 404 energy peers. Operating margin 50.6% vs a peer median of 11.7% (stronger than 95% of peers).Operating margin 50.6% vs peers 11.7% (stronger than 95% of peers).

How risky is Vista Energy, S.A.B. de C.V.?

Higher risk relative to 404 energy peers, judged on debt, liquidity and share-price swings. Current ratio 0.86× vs a peer median of 1.37× (weaker than 80% of peers).Current ratio 0.86× vs peers 1.37× (weaker than 80% of peers). A relative measure, not a bankruptcy probability.

Previous year

Latest year

Change

Revenue (12 months)

1.6B USD

2.5B USD

+50.2%

Net income (12 months)

477.5M USD

719.1M USD

+50.6%

Operating margin

38.0%

50.6%

+12.6 pts

Free cash flow (12 months)

−93.5M USD

−659.2M USD

+605.0%

Debt

1.4B USD

3.2B USD

+117.7%

Cash

764.3M USD

538.4M USD

−29.6%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Gross margin

40.1%

53.1%

50.6%

49.6%

47.5%

▼ 2.1 pts

Operating margin

31.6%

44.6%

54.0%

38.0%

50.6%

▲ 13 pts

Net margin

7.6%

22.7%

34.0%

29.0%

29.1%

▲ 0.1 pts

Return on assets (ROA)

3.0%

13.2%

15.3%

11.3%

10.1%

▼ 1.2 pts

Return on equity (ROE)

9.0%

31.9%

31.8%

29.5%

28.6%

▼ 0.8 pts

Free cash flow margin

12.0%

17.7%

2.0%

-5.7%

-26.6%

▼ 21 pts

Current ratio

0.97×

0.85×

1.19×

0.99×

0.86×

▼ 13%

Quick ratio

0.94×

0.82×

1.16×

0.99×

0.86×

▼ 14%

Debt to equity

1.08×

0.65×

0.49×

0.89×

1.26×

▲ 41%

Interest coverage

4.16×

18.32×

28.86×

10.01×

7.66×

▼ 23%