As of Q4'25 (2025-12-31), VST reported an operation income of -818M USD, marking a significant decline from the previous quarter’s 1.037B USD. The year-over-year (YoY) growth rate for this latest quarter stands at -236.56%, indicating a sharp reversal compared to the strong positive YoY growth seen in Q4'24. Over the period from Q1'23 to Q4'25, VST’s operation income has exhibited considerable volatility, with notable peaks in Q1'23 (1.131B USD), Q3'24 (2.588B USD), and Q3'25 (1.037B USD), interspersed with steep declines and even negative values in Q1'25 and Q4'25. The YoY growth rate has fluctuated dramatically, ranging from highs above 400% in Q1'23 and Q4'24 to deep negative territory in several 2025 quarters, reflecting an unstable earnings trend and heightened operational risk.