Latest Ratios: P/E Ratio 9.2x · EV/EBITDA 5.9x · ROE 34.8%. (2017–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $6.5B | $5.2B | $5.6B | $2.9B | $1.5B | $497M | $224M | $629M | — | — |
| Enterprise Value | $9.2B | $8.0B | $6.4B | $3.4B | $1.9B | $1.1B | $785M | $862M | — | — |
| P/E Ratio → | 9.24 | 7.25 | 11.69 | 7.38 | 5.67 | 9.87 | — | — | — | — |
| P/S Ratio | 2.61 | 2.11 | 3.38 | 2.51 | 1.34 | 0.76 | 0.82 | 1.51 | — | — |
| P/B Ratio | 2.65 | 2.08 | 3.44 | 2.35 | 1.82 | 0.88 | 0.44 | 1.04 | — | — |
| P/FCF | — | — | — | 179.62 | 7.50 | 6.33 | — | — | — | — |
| P/OCF | 10.13 | 8.17 | 5.82 | 4.11 | 2.22 | 1.24 | 2.39 | 4.68 | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 3.23 | 3.86 | 2.91 | 1.63 | 1.62 | 2.86 | 2.07 | — | — |
| EV / EBITDA | 5.90 | 5.10 | 5.98 | 3.75 | 2.43 | 2.61 | 10.10 | 5.15 | — | — |
| EV / EBIT | 11.15 | 6.47 | 9.67 | 5.95 | 4.00 | 5.07 | — | 44.84 | — | — |
| EV / FCF | — | — | — | 208.88 | 9.14 | 13.47 | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 47.5% | 47.5% | 76.2% | 50.6% | 55.1% | 40.9% | 0.9% | 21.1% | 35.8% | 12.0% |
| Operating Margin | 33.5% | 33.5% | 38.0% | 54.0% | 46.3% | 32.3% | -25.6% | 3.5% | 16.4% | 10.4% |
| Net Profit Margin | 29.1% | 29.1% | 29.0% | 34.0% | 23.6% | 7.8% | -37.5% | -7.9% | -9.0% | 7.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 34.8% | 34.8% | 33.3% | 38.0% | 38.3% | 9.4% | -18.5% | -6.0% | -12.2% | 142.3% |
| ROA | 12.7% | 12.7% | 14.0% | 17.1% | 14.5% | 3.3% | -7.5% | -2.6% | -3.4% | 2.1% |
| ROIC | 16.2% | 16.2% | 22.7% | 32.6% | 34.4% | 14.4% | -5.5% | 1.4% | 5.7% | 2.4% |
| ROCE | 17.9% | 17.9% | 23.1% | 32.6% | 36.1% | 18.0% | -6.3% | 1.4% | 6.7% | 3.1% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.31 | 1.31 | 0.95 | 0.55 | 0.69 | 1.13 | 1.11 | 0.78 | 0.64 | 65.72 |
| Debt / EBITDA | 2.10 | 2.10 | 1.45 | 0.76 | 0.75 | 1.57 | 7.26 | 2.79 | 2.33 | 7.66 |
| Net Debt / Equity | — | 1.10 | 0.49 | 0.38 | 0.40 | 0.99 | 1.10 | 0.39 | 0.61 | 65.44 |
| Net Debt / EBITDA | 1.77 | 1.77 | 0.74 | 0.53 | 0.44 | 1.38 | 7.22 | 1.40 | 2.22 | 7.63 |
| Debt / FCF | — | — | — | 29.26 | 1.65 | 7.13 | — | — | — | 45.01 |
| Interest Coverage | 5.37 | 5.37 | 9.79 | 21.52 | 14.07 | 3.73 | -1.15 | 0.51 | 2.09 | 1126.89 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.86 | 0.86 | 0.99 | 1.19 | 0.85 | 0.97 | 0.80 | 1.93 | 1.38 | 9.32 |
| Quick Ratio | 0.86 | 0.86 | 0.99 | 1.16 | 0.82 | 0.94 | 0.76 | 1.83 | 1.24 | -19.39 |
| Cash Ratio | 0.52 | 0.52 | 0.72 | 0.59 | 0.60 | 0.82 | 0.61 | 1.28 | 0.65 | 9.32 |
| Asset Turnover | — | 0.35 | 0.39 | 0.45 | 0.56 | 0.39 | 0.20 | 0.30 | 0.31 | 0.30 |
| Inventory Turnover | 137.37 | 137.37 | 60.61 | 76.50 | 39.82 | 27.62 | 19.57 | 17.17 | 11.69 | 21.23 |
| Days Sales Outstanding | — | 51.29 | 23.57 | 47.98 | 17.82 | 17.50 | 33.62 | 49.56 | 64.74 | 74.06 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | 48.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 10.8% | 13.8% | 8.6% | 13.6% | 17.6% | 10.1% | — | — | — | — |
| FCF Yield | — | — | — | 0.6% | 13.3% | 15.8% | — | — | — | — |
| Buyback Yield | 0.8% | 1.0% | 1.8% | 0.0% | 1.9% | 0.0% | 0.0% | 0.0% | — | — |
| Total Shareholder Yield | 0.8% | 1.0% | 1.8% | 0.0% | 1.9% | 0.0% | 0.0% | 0.0% | — | — |
| Shares Outstanding | — | $107M | $103M | $99M | $98M | $93M | $87M | $80M | $57M | $95M |
Argentine Macroeconomic Policy Volatility
Based on recent market data, VIST trades at a forward P/E of 5.76, which appears to incorporate a significant risk premium compared to international shale peers, likely reflecting investor skepticism regarding the sustainability of Argentine operations despite the company's aggressive production growth and improving export-linked revenue profile.
The current valuation multiples suggest the market is pricing VIST as a regional political proxy rather than a high-growth shale operator. Investors should monitor whether the narrowing gap between domestic and international oil prices can catalyze a re-rating toward the multiples commanded by U.S.-based independent E&P firms.
According to historical financial data, VIST's ROIC has fluctuated between 2.8% and 8.2% over the last ten quarters, indicating that the company's aggressive capital deployment into Vaca Muerta infrastructure has yet to consistently generate returns that meaningfully exceed its likely cost of capital in the current environment.
The volatility in return metrics appears driven by the heavy front-loading of drilling and completion costs relative to the timing of production ramp-ups. Sustained improvement in ROIC will likely require the company to demonstrate that its core acreage can maintain high productivity levels without requiring the current intensity of capital reinvestment.
As reported in recent quarterly filings, VIST's cash conversion cycle has remained deeply negative, reaching -49 days in 2026Q1, which suggests that the company is effectively utilizing supplier credit to manage its liquidity, though this strategy may be vulnerable to shifts in local inflationary pressures and payment terms.
The reliance on extended payables to manage working capital warrants further investigation into the company's supplier relationships and potential exposure to local currency devaluation. While this efficiency helps preserve cash, it may mask underlying operational friction in the procurement of critical oilfield services and equipment.
Based on the provided balance sheet figures, VIST's debt-to-equity ratio has climbed to 1.45 in 2026Q1, signaling a shift toward more aggressive financial leverage to support its ongoing drilling programs, which may increase the company's sensitivity to interest rate volatility and potential refinancing risks in the Argentine market.
While the interest coverage ratio of 3.48 remains above critical thresholds, the upward trend in debt-to-EBITDA suggests that the company's balance sheet is becoming increasingly strained. Investors should monitor whether the company can deleverage through organic cash flow generation or if it will remain dependent on external financing to sustain its growth trajectory.
The P/E ratio is frequently misapplied to VIST, as it obscures the significant impact of IAS 29 hyperinflationary accounting adjustments and non-operating FX gains that often distort reported net income, making it a poor proxy for the company's underlying cash-generating capability in the Vaca Muerta shale formation.
Analysts should prioritize EV/EBITDA or cash-flow-based metrics to better assess the company's operational performance, as these are less susceptible to the accounting noise inherent in Argentine financial reporting. Relying on P/E may lead to an inaccurate assessment of the company's true earning power and its ability to fund future development.
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Quick answers to the most common questions about buying VIST stock.
Vista Energy, S.A.B. de C.V.'s current P/E ratio is 9.2x. The historical average is 8.4x. This places it at the 60th percentile of its historical range.
Vista Energy, S.A.B. de C.V.'s current EV/EBITDA is 5.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 5.0x.
Vista Energy, S.A.B. de C.V.'s return on equity (ROE) is 34.8%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 28.8%.
Based on historical data, Vista Energy, S.A.B. de C.V. is trading at a P/E of 9.2x. This is at the 60th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Vista Energy, S.A.B. de C.V. has 47.5% gross margin and 33.5% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Vista Energy, S.A.B. de C.V.'s Debt/EBITDA ratio is 2.1x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.