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Independent power producer running nuclear and fossil generation in the mid-Atlantic PJM market, including power supply to co-located data centers.
Independent power producer running nuclear and fossil generation in the mid-Atlantic PJM market, including power supply to co-located data centers.
Sells electricity into the PJM wholesale market at market prices and, under a long-term supply contract signed with Amazon in 2025, supplies power from its Susquehanna nuclear plant to the company's data centres, giving it pre-agreed income for part of the plant's output. It emerged from bankruptcy in 2023 and was spun out of PPL in 2015.
Moat: narrow (regulatory licence, installed base, scale). Owning a large licensed baseload nuclear plant gives reliable, low-carbon supply advantage.
Headquarters: The Woodlands, Texas, US · Founded: 2015 · Employees: 1,880
Size Talen Energy (TLN) is a United States Utilities company (Alternative Power Generation) with a market value of $14.7B, the 607th largest of 3,117 United States companies the cockpit tracks. Shares closed at $338.64 on 6 Nov 2026.
Performance Over six months the shares fell 12.3%, against -11.0% for the median peer and -1.1% for the United States market (cap-weighted) — 6th lowest of 13 in its peer set.
Growth Revenue grew 20.3% over the last twelve months (peer median +6.4%); the operating margin is 19.7% (peer median 25.9%).
Valuation It trades at 13.0× forward earnings against a peer median of 27.1× (3rd cheapest of 12).
Price implies For today's price to make sense, revenue must grow about 21% a year for seven years (Req g). Recent delivered growth is -10%, so the hurdle is +31 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 2.8 points below its cost of capital (9.9% WACC).
Backlog Backlog (remaining performance obligations) was $3.99B at 30 Jun 2026 — 1.0 years of trailing revenue. Backlog detail →
Credit Talen Energy has 1 bond outstanding ($1.50B), rated B+ by the agencies and trading like BB at a weighted spread of 173 bp.
Short interest Short interest is 8.9% of the free float (15 Oct 2026).
Next results Next results expected around 4 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $4.88B | $2.52B | $1.81B | $1.44B | $3.02B |
| Revenue growth | — | +40% | +26% | -53% | — |
| Gross profit | $2.46B | $1.25B | $728M | $329M | $1.47B |
| EBITDA | $1.49B | $305M | $356M | -$19.0M | $1.33B |
| Net income | -$254M | -$219M | $998M | $613M | -$1.29B |
| Free cash flow | $221M | $409M | $54.0M | $516M | -$125M |
| Capital expenditure | $489M | $206M | $189M | $348M | $312M |
| Total debt | $9.57B | $6.82B | $3.00B | $2.83B | $4.35B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Talen Energy TLN | $14.7B | -12% | +20% | 20% | 13.0× | 21.1% |
| Vistra VST | $41.9B | -15% | +9% | 19% | 12.8× | 12.5% |
| Constellation Energy CEG | $88.6B | -18% | +21% | 15% | 20.5× | 20.3% |
| NRG Energy NRG | $18.6B | -36% | +13% | 5% | 9.0× | 15.4% |
| Public Service Enterprise PEG | $36.2B | -5% | +13% | 27% | 16.0× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | TLN | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -5.7% | +1.8% | 2nd lowest of 13 |
| 6-month return | -12.3% | -11.0% | 6th lowest of 13 |
| Distance from 52-week high | -24.7% | -19.7% | 6th lowest of 13 |
| Revenue growth (TTM) | +20.3% | +6.4% | 5th highest of 13 |
| Operating margin | 19.7% | 25.9% | 5th lowest of 13 |
| Forward P/E | 13.0× | 27.1× | 3rd cheapest of 12 |
| Growth the price implies (Req g, 7 yrs) | 21.1% | 0.6% | 2nd most demanding of 6 |
| Growth delivered (Del g) | -10.0% | +0.6% | lowest of 6 |
| Hurdle (Req g minus delivered) | +31.1 pp | +0.4 pp | most demanding of 6 |
| ROIC minus cost of capital | -2.8 pp | -2.0 pp | 6th lowest of 13 |
| EV / EBITDA | 16.1× | 17.4× | 4th cheapest of 8 |
| Net debt / EBITDA | 6.2× | 8.1× | 4th least indebted of 8 |
| Bond spread | 173 bp | n/a | — |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Talen Energy TLN | United States | $14.7B | -12% | +20% | 20% | 13.0× | 21.1% | -10.0% |
| China Three Gorges Renewables (Group) 600905.SS | China | $14.7B | -16% | -8% | 17% | 39.8× | n/a | n/a |
| China Longyuan Power 0916.HK | Hong Kong | $13.8B | -17% | -6% | 27% | 11.5× | 0.6% | +0.2% |
| Enlight Renewable Energy ENLT | United States | $9.57B | -25% | +29% | 51% | n/a | n/a | n/a |
| Huadian New Energy 600930.SS | China | $24.5B | -35% | +32% | 27% | 27.1× | n/a | n/a |
| Adani Green Energy ADANIGREEN.NS | India | $24.7B | +4% | +21% | 61% | 87.9× | n/a | n/a |
| Brookfield Infrastructure Partners L.P BIP | United States | $25.6B | +7% | +16% | 25% | 71.0× | n/a | n/a |
| Corporacion Acciona Energias Renovables ANE.MC | Spain | $8.06B | -7% | -14% | 18% | 21.1× | n/a | n/a |
| NTPC Green Energy NTPCGREEN.NS | India | $7.37B | -24% | +49% | 50% | 59.8× | n/a | n/a |
| Clearway Energy CWEN | United States | $7.00B | -11% | +8% | 13% | 56.4× | 33.1% | +2.4% |
| Hubei Energy 000883.SZ | China | $4.58B | -11% | -5% | 15% | 17.6× | -0.4% | +0.6% |
| Fujian Funeng 600483.SS | China | $4.53B | +9% | -1% | 22% | 10.7× | -4.9% | +7.5% |
| ERG ERG.MI | Italy | $3.77B | -3% | +5% | 28% | 19.4× | 10.0% | -2.8% |
Talen Energy has 1 bond outstanding with $1.50B face value. The agencies rate it B+; its bonds trade like BB. Weighted yield 6.33%, a spread of 173 bp over government bonds.
Talen Energy reported $3.99B of remaining performance obligations at 30 Jun 2026. That is 1.0 years of trailing revenue already under contract.