Top-line momentum remains robust with 97.3% revenue growth in 2026Q1, though gross margins remain sensitive to commodity price swings, fluctuating between 30.6% and 75.6% over the last ten quarters.
| Sales/Revenue | 2.9B | 2.47B | 1.65B | 1.17B | 1.14B | 652.19M | 273.94M | 415.98M | 331.34M | 198.07M |
| Revenue Growth % | 63.99% | 50.15% | 40.98% | 2.18% | 75.38% | 138.08% | -34.15% | 25.55% | 67.28% | - |
| Cost of Goods Sold | 1.59B | 1.3B | 392.11M | 577.52M | 513.58M | 385.58M | 271.5M | 328.13M | 212.58M | 174.4M |
| COGS % of Revenue | - | 52.51% | 23.8% | 49.41% | 44.9% | 59.12% | 99.11% | 78.88% | 64.16% | 88.05% |
| Gross Profit | 1.31B | 1.18B | 1.26B | 591.25M | 630.24M | 266.61M | 2.43M | 87.85M | 118.75M | 23.67M |
| Gross Margin % | 45.3% | 47.49% | 76.2% | 50.59% | 55.1% | 40.88% | 0.89% | 21.12% | 35.84% | 11.95% |
| Gross Profit Growth % | - | -6.42% | 112.37% | -6.19% | 136.39% | 10857.87% | -97.23% | -26.03% | 401.63% | - |
| Operating Expenses | -11.73M | 346.6M | 630.27M | -40.24M | 100.56M | 56.05M | 72.44M | 73.23M | 50.16M | 7.08M |
| OpEx % of Revenue | - | 14.01% | 38.25% | -3.44% | 8.79% | 8.59% | 26.44% | 17.6% | 15.14% | 3.58% |
| Selling, General & Admin | 345.69M | 305.7M | 203M | 112.09M | 95.79M | 87.3M | 48.18M | 67.82M | 47.21M | 8.84M |
| SG&A % of Revenue | - | 12.36% | 12.32% | 9.59% | 8.37% | 13.38% | 17.59% | 16.3% | 14.25% | 4.46% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 0 | 40.9M | 427.26M | -152.33M | 4.77M | -31.24M | 24.27M | 5.41M | 2.94M | -1.71M |
| Operating Income | 1.33B | 828.43M | 625.39M | 631.49M | 529.15M | 210.55M | -70.01M | 14.62M | 54.2M | 20.55M |
| Operating Margin % | 45.71% | 33.48% | 37.95% | 54.03% | 46.26% | 32.28% | -25.56% | 3.51% | 16.36% | 10.38% |
| Operating Income Growth % | - | 32.47% | -0.97% | 19.34% | 151.31% | 400.76% | -578.95% | -73.03% | 163.69% | - |
| EBITDA | 2.17B | 1.57B | 1.06B | 907.92M | 768.59M | 405.44M | 77.67M | 167.62M | 131.04M | 83.83M |
| EBITDA Margin % | 74.76% | 63.35% | 64.62% | 77.68% | 67.19% | 62.17% | 28.35% | 40.3% | 39.55% | 42.32% |
| EBITDA Growth % | 94.03% | 47.2% | 17.27% | 18.13% | 89.57% | 422.03% | -53.66% | 27.91% | 56.32% | - |
| D&A (Non-Cash Add-back) | 842.65M | 738.9M | 439.37M | 276.43M | 239.44M | 194.89M | 147.67M | 153M | 76.84M | 63.28M |
| EBIT | 1.27B | 1.23B | 658.07M | 571.94M | 466.69M | 208.67M | -60.49M | 19.23M | 33.68M | 20.28M |
| Net Interest Income | -256.07M | -219.06M | -48.23M | -25.35M | -32.37M | -46.79M | -51.55M | -34.03M | -13.58M | 148K |
| Interest Income | 12.72M | 10.59M | 19.01M | 1.24M | 809K | 9.12M | 822K | 3.77M | 2.53M | 166K |
| Interest Expense | 268.79M | 229.66M | 67.24M | 26.58M | 33.18M | 55.9M | 52.38M | 37.8M | 16.11M | 18K |
| Other Income/Expense | -312.67M | 176.24M | -34.56M | -86.13M | -95.63M | -57.79M | -42.85M | -31.11M | -36.63M | -288K |
| Pretax Income | 1.01B | 1B | 590.83M | 545.36M | 433.51M | 152.76M | -112.86M | -16.49M | 17.57M | 20.27M |
| Pretax Margin % | 34.93% | 40.61% | 35.86% | 46.66% | 37.9% | 23.42% | -41.2% | -3.96% | 5.3% | 10.23% |
| Income Tax | 269.26M | 285.61M | 113.31M | 148.4M | 163.98M | 102.11M | -10.11M | 16.23M | 47.42M | 6.36M |
| Effective Tax Rate % | 26.57% | 28.43% | 19.18% | 27.21% | 37.83% | 66.84% | 8.96% | -98.43% | 269.9% | 31.39% |
| Net Income | 743.98M | 719.06M | 477.52M | 396.95M | 269.54M | 50.65M | -102.75M | -32.72M | -29.85M | 13.9M |
| Net Margin % | 25.65% | 29.06% | 28.98% | 33.96% | 23.56% | 7.77% | -37.51% | -7.87% | -9.01% | 7.02% |
| Net Income Growth % | 54.46% | 50.58% | 20.3% | 47.27% | 432.15% | 149.29% | -214% | -9.62% | -314.67% | - |
| Net Income (Continuing) | 743.98M | 719.06M | 477.52M | 396.95M | 269.54M | 50.65M | -102.75M | -32.72M | -29.85M | 13.9M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 6.75 | 6.71 | 4.63 | 4.00 | 2.76 | 0.54 | -1.17 | -0.41 | -0.53 | 0.15 |
| EPS Growth % | 42.89% | 44.92% | 15.75% | 44.93% | 411.11% | 146.15% | -185.37% | 22.64% | -453.33% | - |
| EPS (Basic) | - | 7.02 | 4.98 | 4.24 | 3.07 | 0.57 | -1.17 | -0.41 | -0.53 | 0.15 |
| Diluted Shares Outstanding | 110.26M | 107.21M | 103.08M | 99.23M | 97.83M | 93.27M | 87.47M | 80.07M | 56.61M | 95.44M |
| Basic Shares Outstanding | 104.62M | 102.5M | 95.91M | 93.68M | 87.86M | 88.24M | 87.47M | 80.07M | 56.61M | 95.44M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | 48.42% |
Argentine Macroeconomic Policy Volatility
According to recent financial disclosures, VIST achieved a significant 97.3% revenue growth in 2026Q1, marking a sharp acceleration from the 36.7% growth observed in 2024Q4, largely driven by increased production volumes and favorable pricing dynamics within the Vaca Muerta shale formation's core development blocks.
The rapid revenue expansion suggests that the company is successfully scaling its drilling and completion activities to capture higher export-linked pricing. Investors should monitor whether this growth trajectory remains sustainable as the company approaches infrastructure capacity limits in the Neuquén Basin.
As reported in quarterly filings, VIST's gross margin fluctuated between 30.6% and 75.6% over the last ten quarters, reflecting the inherent sensitivity of the company's cost structure to commodity price swings and the complex inflationary accounting adjustments required for its Argentine-based operations.
While the 54.6% gross margin in 2026Q1 indicates strong pricing power, the wide variance in profitability suggests that realized margins are highly dependent on the timing of export sales and local cost inflation. The company's ability to maintain these levels appears contingent on its ongoing transition toward international Brent-linked pricing.
Based on the provided income statement data, VIST has demonstrated effective operating leverage, with operating income reaching $216.1 million in 2026Q1, as the company manages to scale its production output without a proportional increase in fixed overhead expenses relative to its top-line growth.
The ability to maintain operating margins above 25% despite aggressive reinvestment suggests a lean operational model that benefits from the high-tier quality of its acreage. However, analysts should remain cautious, as future operating leverage may be pressured if service costs in the region continue to rise.
Analysis of the income statement reveals that net income volatility, such as the $315.3 million peak in 2025Q3, is frequently influenced by non-operating factors and accounting adjustments rather than purely operational performance, warranting a closer look at the sustainability of reported earnings per share.
The presence of significant stock-based compensation and hyperinflationary adjustments suggests that headline EPS figures may not fully capture the underlying cash-generating capacity of the business. Investors should focus on normalized earnings metrics to better assess the true profitability of the company's shale development program.
Despite the company's impressive growth, the reliance on a single geographic theater for 100% of production, as noted in recent filings, exposes VIST to significant regulatory and currency risks that could abruptly impair its ability to repatriate capital or maintain its current investment pace.
Short-term performance may appear robust, but the structural risk of Argentine policy intervention remains a critical overhang that could compress margins regardless of operational success. The market's current valuation likely reflects this persistent country-specific discount, which may not be fully mitigated by export growth alone.
Quick answers to the most common questions about buying VIST stock.
For fiscal year 2025, Vista Energy, S.A.B. de C.V. (VIST) reported total revenue of $2.47B. This represents a 1149.1% increase compared to $198.1M in 2017.
Vista Energy, S.A.B. de C.V. (VIST) is profitable, generating $719.1M in net income for the fiscal year ending 2025 with a net profit margin of 29.1%.
Vista Energy, S.A.B. de C.V. (VIST) reported an operating income of $828.4M, resulting in an operating profit margin of 33.5%. This margin reflects the operational efficiency of the business before interest and taxes.
Vista Energy, S.A.B. de C.V. (VIST) generated $1.18B in gross profit for the year, representing a gross profit margin of 47.5%. This demonstrates the company's core pricing power and production efficiency.