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

VIST

Oil & Gas Exploration & Production · Energy

Price

$67.02

+1.97 (+3.03%)

Market Cap

$6.99B

Exchange

New York Stock Exchange

Winston Score

Winston is happy

A high-quality business with solid fundamentals.

Share count rising — dilution

+14.9% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 93.3M (2021) → 107.2M (2025)

Vista Energy is an oil and gas company that drills for crude oil and natural gas in Argentina. Its main asset is in the Vaca Muerta formation, one of the largest shale oil and gas reserves in the world. The company sells its oil to local refiners and international buyers, and its gas to industrial customers and utilities.

Vista makes money by extracting and selling crude oil and natural gas, so its revenue rises and falls with global energy prices. It operates almost entirely in Argentina, with a market cap around $7 billion, and its competitive edge comes from holding prime acreage in Vaca Muerta, where production costs are relatively low. The key growth driver is continued drilling and expanding output in Vaca Muerta, but the main risk is Argentina's history of economic instability, currency controls, and government policy changes that can make it harder to move profits out of the country.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+102.3% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+35.4% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

0.0% of revenue

Below sector average (1%)

Research and development spending

Insider Activity

10.3%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

$683M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Revenue accelerating

Vista Energy, S.A.B. de C.V. grew revenue 102% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

57.4%

Premium pricing power — 57.4% gross margin

Operating Margin

44.2%

Excellent — 44.2% operating margin

ROCE

7.8%

Weak — 7.8% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales YoY

+77.8%

Fast-growing sales (77.8% YoY)

EPS YoY

+36.0%

Earnings growing fast (36.0% YoY)

Earnings growing 25%+ a year. The compounder zone.

EPS Consistency

6/8 quarters

Earnings grew in most of the last 8 quarters

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Cash Flow

Cash Conversion

197%

Turns 197% of profit into real cash

FCF Margin

3.9%

Thin free cash flow (3.9%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

Debt / Equity

1.10

Elevated debt (1.10)

Interest Cover

5.41x

Adequate interest coverage (5.4x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

P/E Ratio (TTM)

8.5x

Attractive valuation — P/E 8.5

P/E under 10. The price tag is small relative to last year's profit.

P/E vs Forward

+2.5

GROWING

Earnings expected to grow — slightly cheaper on forward P/E

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Dividends

Not applicable for this business.

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