In the latest quarter Q4'25, VST's Gross Margin stood at 49.6%, reflecting a moderate decline from the previous quarter's 52.3%. Operating Margin was 10.3%, indicating stable but subdued profitability after recovering from a negative figure in Q1'25. Net Profit Margin reached 4.0%, marking a sequential drop from 12.2% in Q3'25 but remaining positive overall. Over the period from Q1'23 to Q4'25, VST's profit margins exhibited volatility with a general downward trend in net profitability, punctuated by sharp recoveries and declines. Gross Margin fluctuated between a low of 37.8% in Q1'25 and a high of 64.9% in Q3'24, showing resilience above 40% in most quarters but weakening recently. Operating and Net Profit Margins displayed greater instability, with Net Profit Margin swinging from a peak of 29.3% in Q3'24 to losses of -8.1% in Q1'25, highlighting sensitivity to operational costs and one-time factors, though both ended the period in positive territory amid ongoing fluctuations.