Talen Energy
TLN · NasdaqElectric Services · Fiscal year ends Dec 31
Talen Energy reported revenue of $2.5B in the fiscal year ended Dec 2025, up 60.0% from the year before. Operating income was −$90M, an operating margin of −3.6%, and net income was −$219M. Operating cash flow of $704M less capital expenditure of $98M left free cash flow of $606M. Net debt was $6.1B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Dec 2014 | Dec 2015 | Dec 2022 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | – | – | $3.2B | $1.6B | $2.5B |
| Operating income | $397M | −$39M | $241M | $226M | −$90M |
| Interest expense | $124M | $211M | – | – | – |
| Pre-tax income | $303M | −$368M | −$1.3B | $1.1B | −$166M |
| Income tax | $116M | −$27M | −$35M | $98M | $53M |
| Net income | $410M | −$341M | −$1.3B | $998M | −$219M |
| Diluted EPS | 4.91 | −3.10 | – | 17.67 | −4.79 |
| Diluted shares | 84M | 110M | 0M | 56M | 46M |
Balance sheet
| Fiscal year | Dec 2014 | Dec 2015 | Dec 2022 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | $352M | $141M | $988M | $328M | $689M |
| Receivables | $186M | $205M | – | $66M | $160M |
| Inventory | $455M | $508M | – | $302M | $278M |
| Current assets | $2.7B | $2.8B | – | $1B | $1.3B |
| Net PP&E | $6.4B | $8.6B | – | $3.2B | $7.5B |
| Goodwill | $72M | $0 | – | – | – |
| Total assets | $10.8B | $12.8B | – | $6.1B | $10.9B |
| Payables | $361M | $291M | – | – | – |
| Current liabilities | $2.9B | $2.1B | – | $455M | $1.1B |
| Short-term debt | $535M | $399M | – | $17M | $29M |
| Long-term debt | $1.7B | $3.8B | – | $3B | $6.8B |
| Total liabilities | – | – | – | $4.7B | $9.8B |
| Shareholders' equity | $3.9B | $4.3B | −$482M | $1.4B | $1.1B |
Cash flow
| Fiscal year | Dec 2014 | Dec 2015 | Dec 2022 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | $462M | $768M | $187M | $256M | $704M |
| Capital expenditure | $416M | $451M | $232M | $85M | $98M |
| Free cash flow | $46M | $317M | −$45M | $171M | $606M |
| Depreciation & amortisation | $297M | $356M | $520M | $298M | $279M |
| Stock-based compensation | – | $18M | $0 | $33M | $526M |
| Acquisitions | – | – | – | $0 | $3.8B |
| Share buybacks | – | – | $0 | $2B | $103M |
Key ratios
| Fiscal year | Dec 2014 | Dec 2015 | Dec 2022 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | – | – | −51.0% | 60.0% |
| Operating income growth (YoY) | – | −109.8% | – | −6.2% | −139.8% |
| EPS growth (YoY) | – | −163.1% | – | – | −127.1% |
| Operating margin | – | – | 7.5% | 14.4% | −3.6% |
| Net margin | – | – | −40.3% | 63.4% | −8.7% |
| Return on equityBlank when equity is negative | 10.5% | −7.9% | – | 72.0% | −20.0% |
| ROCEEBIT ÷ (assets − current liabilities) | 5.0% | −0.4% | – | 4.0% | −0.9% |
| Free cash flow margin | – | – | −1.4% | 10.9% | 24.1% |
| Cash conversion (CFO ÷ net income) | 1.13x | −2.25x | −0.14x | 0.26x | −3.21x |
| Receivable days | – | – | – | 15 | 23 |
| Interest cover | 3.20x | −0.18x | – | – | – |
| Debt ÷ equity | 0.57x | 0.97x | – | 2.17x | 6.23x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | $1.9B | $4B | – | $2.7B | $6.1B |
| Current ratio | 0.93x | 1.32x | – | 2.29x | 1.28x |
Recent filings
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Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.