Independent Power Producers
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VST vs AES vs NRG vs GEN
Revenue, margins, valuation, and 5-year total return — side by side.
Diversified Utilities
Independent Power Producers
Software - Infrastructure
VST vs AES vs NRG vs GEN — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | ||||
|---|---|---|---|---|
| Industry | Independent Power Producers | Diversified Utilities | Independent Power Producers | Software - Infrastructure |
| Market Cap | $52.15B | $10.18B | $30.41B | $12.23B |
| Revenue (TTM) | $17.20B | $12.49B | $32.38B | $5.00B |
| Net Income (TTM) | $2.19B | $1.05B | $239M | $973M |
| Gross Margin | 6.5% | 14.2% | 14.5% | 78.5% |
| Operating Margin | 7.6% | 11.8% | 3.2% | 42.4% |
| Forward P/E | 18.0x | 6.2x | 15.5x | 7.9x |
| Total Debt | $20.39B | $30.33B | $16.77B | $8.20B |
| Cash & Equiv. | $816M | $2.07B | $4.74B | $411M |
VST vs AES vs NRG vs GEN — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
| Stock | May 20 | May 26 | Return |
|---|---|---|---|
| Vistra Corp. (VST) | 100 | 753.6 | +653.6% |
| The AES Corporation (AES) | 100 | 114.3 | +14.3% |
| NRG Energy, Inc. (NRG) | 100 | 393.1 | +293.1% |
| Gen Digital Inc. (GEN) | 100 | 88.6 | -11.4% |
Price return only. Dividends and distributions are not included.
Quick Verdict: VST vs AES vs NRG vs GEN
Each card shows where this stock fits in a portfolio — not just who wins on paper.
VST is the clearest fit if your priority is long-term compounding.
- 9.4% 10Y total return vs NRG's 8.7%
- 7.4% ROA vs NRG's 0.8%, ROIC 4.3% vs 10.6%
AES carries the broadest edge in this set and is the clearest fit for income & stability and sleep-well-at-night.
- Dividend streak 2 yrs, beta 1.01, yield 4.9%
- Lower volatility, beta 1.01, current ratio 0.77x
- PEG 0.08 vs GEN's 2.90
- Beta 1.01, yield 4.9%, current ratio 0.77x
NRG lags the leaders in this set but could rank higher in a more targeted comparison.
GEN is the #2 pick in this set and the best alternative if growth exposure is your priority.
- Rev growth 27.1%, EPS growth 52.4%, 3Y rev CAGR 14.7%
- 27.1% revenue growth vs VST's -12.4%
- 19.5% margin vs NRG's 0.7%
- Beta 0.98 vs NRG's 1.84, lower leverage
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | 27.1% revenue growth vs VST's -12.4% | |
| Value | Lower P/E (6.2x vs 15.5x), PEG 0.08 vs 1.09 | |
| Quality / Margins | 19.5% margin vs NRG's 0.7% | |
| Stability / Safety | Beta 0.98 vs NRG's 1.84, lower leverage | |
| Dividends | 4.9% yield, 2-year raise streak, vs NRG's 1.5% | |
| Momentum (1Y) | +45.5% vs GEN's -25.7% | |
| Efficiency (ROA) | 7.4% ROA vs NRG's 0.8%, ROIC 4.3% vs 10.6% |
VST vs AES vs NRG vs GEN — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
VST vs AES vs NRG vs GEN — Financial Metrics
Side-by-side numbers across 4 stocks — who leads on profitability, valuation, growth, and risk.
Who Leads Where
GEN leads in 2 of 6 categories
AES leads 1 • VST leads 1 • NRG leads 0 • 2 tied
Explore the data ↓Income & Cash Flow (Last 12 Months)
GEN leads this category, winning 6 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
NRG is the larger business by revenue, generating $32.4B annually — 6.5x GEN's $5.0B. GEN is the more profitable business, keeping 19.5% of every revenue dollar as net income compared to NRG's 0.7%. On growth, GEN holds the edge at +27.0% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | ||||
|---|---|---|---|---|
| RevenueTrailing 12 months | $17.2B | $12.5B | $32.4B | $5.0B |
| EBITDAEarnings before interest/tax | $3.1B | $2.6B | $3.1B | $2.5B |
| Net IncomeAfter-tax profit | $2.2B | $1.1B | $239M | $973M |
| Free Cash FlowCash after capex | $2.0B | -$1.5B | -$7.7B | $1.5B |
| Gross MarginGross profit ÷ Revenue | +6.5% | +14.2% | +14.5% | +78.5% |
| Operating MarginEBIT ÷ Revenue | +7.6% | +11.8% | +3.2% | +42.4% |
| Net MarginNet income ÷ Revenue | +12.7% | +8.4% | +0.7% | +19.5% |
| FCF MarginFCF ÷ Revenue | +11.7% | -11.8% | -23.7% | +29.9% |
| Rev. Growth (YoY)Latest quarter vs prior year | +9.1% | +8.7% | +19.5% | +27.0% |
| EPS Growth (YoY)Latest quarter vs prior year | +100.0% | -100.0% | -85.6% | +2.7% |
Valuation Metrics
AES leads this category, winning 5 of 7 comparable metrics.
Valuation Metrics
At 11.3x trailing earnings, AES trades at a 84% valuation discount to VST's 69.7x P/E. Adjusting for growth (PEG ratio), AES offers better value at 0.14x vs VST's 6.23x — a lower PEG means you pay less per unit of expected earnings growth.
| Metric | ||||
|---|---|---|---|---|
| Market CapShares × price | $52.2B | $10.2B | $30.4B | $12.2B |
| Enterprise ValueMkt cap + debt − cash | $71.7B | $38.4B | $42.4B | $20.0B |
| Trailing P/EPrice ÷ TTM EPS | 69.70x | 11.33x | 35.34x | 12.86x |
| Forward P/EPrice ÷ next-FY EPS est. | 17.95x | 6.16x | 15.46x | 7.92x |
| PEG RatioP/E ÷ EPS growth rate | 6.23x | 0.14x | 2.50x | 1.14x |
| EV / EBITDAEnterprise value multiple | 16.74x | 11.22x | 11.15x | 9.44x |
| Price / SalesMarket cap ÷ Revenue | 3.07x | 0.83x | 0.99x | 2.45x |
| Price / BookPrice ÷ Book value/share | 10.24x | 0.85x | 16.78x | 4.79x |
| Price / FCFMarket cap ÷ FCF | 404.28x | — | 39.70x | 8.03x |
Profitability & Efficiency
GEN leads this category, winning 6 of 9 comparable metrics.
Profitability & Efficiency
VST delivers a 57.8% return on equity — every $100 of shareholder capital generates $58 in annual profit, vs $9 for NRG. AES carries lower financial leverage with a 2.54x debt-to-equity ratio, signaling a more conservative balance sheet compared to NRG's 9.97x. On the Piotroski fundamental quality scale (0–9), GEN scores 7/9 vs VST's 4/9, reflecting strong financial health.
| Metric | ||||
|---|---|---|---|---|
| ROE (TTM)Return on equity | +57.8% | +10.7% | +8.8% | +39.9% |
| ROA (TTM)Return on assets | +7.4% | +2.1% | +0.8% | +6.1% |
| ROICReturn on invested capital | +4.3% | +3.9% | +10.6% | +15.9% |
| ROCEReturn on capital employed | +4.5% | +4.8% | +10.2% | +16.6% |
| Piotroski ScoreFundamental quality 0–9 | 4 | 5 | 6 | 7 |
| Debt / EquityFinancial leverage | 3.99x | 2.54x | 9.97x | 3.14x |
| Net DebtTotal debt minus cash | $19.6B | $28.3B | $12.0B | $7.8B |
| Cash & Equiv.Liquid assets | $816M | $2.1B | $4.7B | $411M |
| Total DebtShort + long-term debt | $20.4B | $30.3B | $16.8B | $8.2B |
| Interest CoverageEBIT ÷ Interest expense | 1.95x | 1.05x | 2.40x | 4.15x |
Total Returns (Dividends Reinvested)
VST leads this category, winning 4 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in VST five years ago would be worth $98,469 today (with dividends reinvested), compared to $6,833 for AES. Over the past 12 months, AES leads with a +45.5% total return vs GEN's -25.7%. The 3-year compound annual growth rate (CAGR) favors VST at 88.5% vs AES's -9.0% — a key indicator of consistent wealth creation.
| Metric | ||||
|---|---|---|---|---|
| YTD ReturnYear-to-date | -6.6% | -1.3% | -14.1% | -22.1% |
| 1-Year ReturnPast 12 months | +11.1% | +45.5% | +21.0% | -25.7% |
| 3-Year ReturnCumulative with dividends | +570.1% | -24.7% | +369.0% | +27.2% |
| 5-Year ReturnCumulative with dividends | +884.7% | -31.7% | +330.5% | +7.5% |
| 10-Year ReturnCumulative with dividends | +942.3% | +81.6% | +870.6% | +119.3% |
| CAGR (3Y)Annualised 3-year return | +88.5% | -9.0% | +67.4% | +8.4% |
Risk & Volatility
Evenly matched — AES and GEN each lead in 1 of 2 comparable metrics.
Risk & Volatility
GEN is the less volatile stock with a 0.98 beta — it tends to amplify market swings less than NRG's 1.84 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. AES currently trades 80.9% from its 52-week high vs GEN's 62.7% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | ||||
|---|---|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 1.56x | 1.01x | 1.84x | 0.98x |
| 52-Week HighHighest price in past year | $219.82 | $17.65 | $189.96 | $32.22 |
| 52-Week LowLowest price in past year | $133.73 | $9.46 | $115.48 | $17.78 |
| % of 52W HighCurrent price vs 52-week peak | +70.1% | +80.9% | +74.6% | +62.7% |
| RSI (14)Momentum oscillator 0–100 | 49.5 | 44.6 | 44.4 | 49.3 |
| Avg Volume (50D)Average daily shares traded | 4.1M | 13.9M | 2.8M | 6.4M |
Analyst Outlook
Evenly matched — AES and NRG each lead in 1 of 2 comparable metrics.
Analyst Outlook
Analyst consensus: VST as "Buy", AES as "Hold", NRG as "Buy", GEN as "Buy". Consensus price targets imply 58.5% upside for GEN (target: $32) vs 27.8% for AES (target: $18). For income investors, AES offers the higher dividend yield at 4.93% vs VST's 0.58%.
| Metric | ||||
|---|---|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Hold | Buy | Buy |
| Price TargetConsensus 12-month target | $227.60 | $18.25 | $194.00 | $32.00 |
| # AnalystsCovering analysts | 21 | 21 | 26 | 21 |
| Dividend YieldAnnual dividend ÷ price | +0.6% | +4.9% | +1.5% | +2.5% |
| Dividend StreakConsecutive years of raises | 6 | 2 | 8 | 1 |
| Dividend / ShareAnnual DPS | $0.90 | $0.70 | $2.07 | $0.50 |
| Buyback YieldShare repurchases ÷ mkt cap | +2.0% | 0.0% | +4.6% | +5.2% |
GEN leads in 2 of 6 categories (Income & Cash Flow, Profitability & Efficiency). AES leads in 1 (Valuation Metrics). 2 tied.
VST vs AES vs NRG vs GEN: Key Questions Answered
10 questions · data-driven answers · updated daily
01Is VST or AES or NRG or GEN a better buy right now?
For growth investors, Gen Digital Inc.
(GEN) is the stronger pick with 27. 1% revenue growth year-over-year, versus -12. 4% for Vistra Corp. (VST). The AES Corporation (AES) offers the better valuation at 11. 3x trailing P/E (6. 2x forward), making it the more compelling value choice. Analysts rate Vistra Corp. (VST) a "Buy" — based on 21 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — VST or AES or NRG or GEN?
On trailing P/E, The AES Corporation (AES) is the cheapest at 11.
3x versus Vistra Corp. at 69. 7x. On forward P/E, The AES Corporation is actually cheaper at 6. 2x. The PEG ratio (P/E divided by earnings growth rate) is the most growth-adjusted single valuation metric: The AES Corporation wins at 0. 08x versus Gen Digital Inc. 's 2. 90x — a PEG below 1. 0 traditionally signals the market is underpricing earnings growth.
03Which is the better long-term investment — VST or AES or NRG or GEN?
Over the past 5 years, Vistra Corp.
(VST) delivered a total return of +884. 7%, compared to -31. 7% for The AES Corporation (AES). Over 10 years, the gap is even starker: VST returned +942. 3% versus AES's +81. 6%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — VST or AES or NRG or GEN?
By beta (market sensitivity over 5 years), Gen Digital Inc.
(GEN) is the lower-risk stock at 0. 98β versus NRG Energy, Inc. 's 1. 84β — meaning NRG is approximately 88% more volatile than GEN relative to the S&P 500. On balance sheet safety, The AES Corporation (AES) carries a lower debt/equity ratio of 3% versus 10% for NRG Energy, Inc. — giving it more financial flexibility in a downturn.
05Which is growing faster — VST or AES or NRG or GEN?
By revenue growth (latest reported year), Gen Digital Inc.
(GEN) is pulling ahead at 27. 1% versus -12. 4% for Vistra Corp. (VST). On earnings-per-share growth, the picture is similar: Gen Digital Inc. grew EPS 52. 4% year-over-year, compared to -68. 4% for Vistra Corp.. Over a 3-year CAGR, GEN leads at 14. 7% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — VST or AES or NRG or GEN?
Gen Digital Inc.
(GEN) is the more profitable company, earning 19. 5% net margin versus 2. 8% for NRG Energy, Inc. — meaning it keeps 19. 5% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: GEN leads at 42. 4% versus 6. 0% for NRG. At the gross margin level — before operating expenses — GEN leads at 78. 5%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
07Is VST or AES or NRG or GEN more undervalued right now?
The PEG ratio (forward P/E divided by expected earnings growth rate) is the most precise measure of undervaluation relative to growth potential.
By this metric, The AES Corporation (AES) is the more undervalued stock at a PEG of 0. 08x versus Gen Digital Inc. 's 2. 90x. A PEG below 1. 0 is traditionally considered the threshold for growth-adjusted undervaluation. On forward earnings alone, The AES Corporation (AES) trades at 6. 2x forward P/E versus 18. 0x for Vistra Corp. — 11. 8x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for GEN: 58. 5% to $32. 00.
08Which pays a better dividend — VST or AES or NRG or GEN?
All stocks in this comparison pay dividends.
The AES Corporation (AES) offers the highest yield at 4. 9%, versus 0. 6% for Vistra Corp. (VST).
09Is VST or AES or NRG or GEN better for a retirement portfolio?
For long-horizon retirement investors, Vistra Corp.
(VST) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (0. 6% yield, +942. 3% 10Y return). NRG Energy, Inc. (NRG) carries a higher beta of 1. 84 — meaning larger drawdowns in market downturns, which matters significantly when you cannot wait years for a recovery. Both have compounded well over 10 years (VST: +942. 3%, NRG: +870. 6%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
10What are the main differences between VST and AES and NRG and GEN?
These companies operate in different sectors (VST (Utilities) and AES (Utilities) and NRG (Utilities) and GEN (Technology)), which means they face different economic cycles, regulatory environments, and macro sensitivities — making direct comparison nuanced.
In terms of investment character: VST is a mid-cap quality compounder stock; AES is a mid-cap deep-value stock; NRG is a mid-cap quality compounder stock; GEN is a mid-cap high-growth stock. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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