Talen Energy Corporation

Electric Services

TLNStrained3 of 9 basics passed

$375.52

+4.54%

Market cap $17.8B

$375.52

+4.54%

Market cap $17.8B

Talen Energy Corp is an independent power producer and energy infrastructure company based in the United States. It owns and operates several gigawatts of power infrastructure in the United States, including 2.2GW of nuclear power and a dispatchable fossil fleet.

It is a $17.8B utility company. Revenue grew 60.8% over the last year, it currently loses money, and its net debt equals ~10.7 years of free cash flow.

Website: talenenergy.com
Location: Houston, TX
Employees: 1 880
Sector: Utilities

Share price · 2 years

$127.50 → $375.52+194.5%

price only — dividends excluded

Key facts · TTM

Revenue: total sales; $3.44B
Loss: spends more than it earns; -$185M
Free cash flow: cash left after running the business; $568M
Net debt: debt minus cash on hand; $6.09B
Shares: up 10059% since 2021 — dilution; 45.7M
Volatility: beta vs the market — under 1 swings less; 1.64

Revenue, last 5 years

52-week range

Low $282.15$375.52High $438.12

Today's price is 60% of the way from the year's low to its high.

P/E vs its history2y

63.3×median 72.2×

Higher than 36% of past days — around the middle of its own history.

Valuation vs own history

P/E

63.3×

64%

P/S

4.8×

65%

EV/EBITDA

109.3×

27%

P/B

11.1×

45%

FCF yield

2.8%

75%

Share of the last ~5 years that was pricier than today (in line with its own history). Based on the daily valuation record.

Standing in Utilities

Size$17.8Btop 81%
Revenue growth-6%top 95%
Net margin-5%top 100%
Return on equity-14%top 100%

Ranked against 44 Utilities companies with a full CV — for P/E, lower ranks higher.

Skills

Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.

Valuation, Growth, Profitability, Health, Quality and Moat lag behind.

Valuation44

P/E vs own history36th pct · 20/25
FCF yield3.2% · 12/25
P/S5.2x · 12/25
EV/EBITDA59.4x · 0/25

Growth12

Revenue CAGR9.8% · 12/25
Net income CAGRn/a · 0/25
EPS CAGR ~5Yn/a · 0/25
Fwd implied growthn/a · 0/25

Profitability5

ROIC-3.0% · 0/25
ROE-14.1% · 0/25
Net margin-5.4% · 0/25
Operating margin2.6% · 5/25

Health12

Altman Z0.82 · 3/25
Current ratio0.78 · 6/25
Interest coverage0.1x · 3/25
Net cash / debtD/A 56% · 0/25

Quality42

Piotroski F3/9 · 5/25
Beneish M-2.70 · 25/25
FCF conversionn/a · 0/25
Margin stabilityσ 13.7% · 12/25

Moat18

ROIC >12% yearsn/a · 0/25
Median gross marginn/a · 0/25
FCF-positive years4/5 yrs · 18/25
Worst-year net marginworst -55.0% · 0/25

How the scores work →

Experience

The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.

FY2024Financial
Best year on record
$998M net income
FY2023Financial
Turned profitable
$134M net income after a loss year
FY2021Financial
Revenue already above $1B
$1.77B in first reported year

Achievements

Verifiable track record, straight from the reported numbers.

$2.6B revenue in FY2025

Revenue up 60.8% year over year

Positive free cash flow 4 years in a row

1 880 employees

Strengths & watch-outs

What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.

Strengths

High gross margin (59.0%)
Revenue growing 60.8% year over year
Strong cash conversion — FCF is 16.5% of revenue

Watch-outs

Not profitable — 5.4% net margin
Altman Z-Score 0.82 — elevated financial-distress risk
Net debt would take ~16.4 years of free cash flow to repay
Thin interest coverage (0.1×)
Loss-making in 3 of the recent years

Qualifications

The basics a company should meet before you research it further. Each check uses the reported numbers.

3 of 9 checks passed

Revenue growing — the company sells more than a year ago+60.8% YoY
Profitable — makes more than it spends-$185M TTM
Profit growing — earnings are higher than last year-121.9% YoY
Generates cash — cash left after running and investing$568M TTM
Debt under control — could handle its obligations~10.7y of cash flow to repay
Established company — not a micro-cap — lower blow-up risk$17.8B market cap
Not printing shares — share count not ballooning — you keep your slice+10059.5% shares over ~5y
Proven track record — years of profitability behind it2/5 profitable years
Financially stable — balance sheet not near distressAltman Z 0.8 — distress
Pays a dividend — returns cash to shareholdersno data
Valuation not extreme — price not wildly above earningsno data

Peer comparisonTalen Energy Corporation vs 6 largest utilities peers — cap, P/E, growth and margin side by sideOpen ▾

Company	Market cap	P/E	Revenue growth	Net margin	Profile
TLN this company	$17.8B	—	+60.8%	-5.4%	Strained
NEE NextEra Energy, Inc.	$161.3B	17.4	+10.8%	32.4%	Strained
CEG Constellation Energy Corporation	$105.8B	30.5	+26.0%	11.1%	Strained
SO The Southern Company	$99.1B	21.3	+6.4%	15.4%	Strained
DUK Duke Energy Corporation	$90.9B	17.3	+6.3%	15.8%	Strained
WMB Williams Companies Inc.	$89.2B	29.0	+8.7%	25.2%	Strained
KMI Kinder Morgan, Inc.	$72.4B	20.9	+12.5%	19.3%	Strained

Head-to-head: TLN vs NEE · TLN vs CEG · TLN vs SO

References

What covering analysts publish about the company — information only, not a recommendation.

Strong buy 4Buy 16Hold 3

Appendix · Financial records

The full statements behind this CV, FY2021–FY2025. For readers who want to check the numbers.

Profit & lossRevenue $3.44B · net income -$185M (TTM)Open ▾

Profit & loss

Revenue and profit over the company's career — the income statement, visualised.

RevenueNet income

Revenue (TTM)

$3.44B

YoY 60.8%

Net income (TTM)

-$185M

Margin -5.4%

Gross margin

59.0%

Operating margin

2.6%

Income statement — full detail

Figures in USD billions · EPS in USD

	2021	2022	2023	2024	2025
Revenue	1.8	2.4	2.4	2.1	2.6
Gross profit	—	—	—	—	—
Operating income (EBIT)	—	—	—	0.2	-0.1
Net income	-1.0	-1.3	0.1	1.0	-0.2
EPS (diluted)	-2172.33	-21.84	2.26	17.67	-4.79

Cash flowFree cash flow $568M · operating cash flow $796M (TTM)Open ▾

Cash flow statement

Cash generated by the business and what is left after investment — year by year.

Operating cash flowFree cash flow

Free cash flow (TTM)

$568M

Margin 16.5%

Operating cash flow (TTM)

$796M

FCF margin

16.5%

Cash flow statement — full detail

Figures in USD billions

	2021	2022	2023	2024	2025
Operating cash flow	0.2	0.9	0.3	0.3	0.7
Capital expenditure	-0.3	-0.3	-0.2	-0.1	-0.1
Free cash flow	-0.1	0.5	0.1	0.2	0.6
FCF margin	-7.0%	21.4%	2.7%	8.1%	23.5%

Balance sheetAssets $10.9B · net debt $6.09B (FY2025)Open ▾

Balance sheet

How the balance sheet is built — what it owns versus how it is financed.

How $10.9B of assets is financed

90%

Liabilities $9.81B — borrowed moneyEquity $1.09B — owners' stake

Cash vs debt

Total debt $6.78B − cash $689M = net debt $6.09B

Cash on hand covers 10% of debt.

Altman Z-Score

0.82

Distress zone

Debt repayment

16.4 yrs

Years of free cash flow to clear net debt

Interest coverage

0.1x

EBIT ÷ interest expense

ROE

-14.1%

Profit per $1 of equity

Balance sheet — full detail

Figures in USD billions

	2021	2022	2023	2024	2025
Cash & equivalents	0.7	0.4	0.3	0.3	0.7
Total assets	10.7	7.1	6.1	6.1	10.9
Total liabilities	11.2	4.6	4.7	4.7	9.8
Total debt	5.9	2.8	3.0	3.0	6.8
Equity	-0.5	2.5	1.4	1.4	1.1
Net debt	5.2	2.4	2.7	2.7	6.1

Want the live picture — intraday moves, valuation history and full analysis?

Deeper analysis of TLN on PreMarketPrice

Figures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $375.52 · market cap $17.8B.