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Talen Energy Corp (TLN) stock

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NASDAQ: TLN Nasdaq Independent Power Producers & Energy Traders Next results ~November 3, 2026

C+ Fundamentals grade

Talen Energy Corp is a US-listed company in the independent power producers & energy traders industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

Under review: our cash-flow value ($65.68) was left out of our combined valuation (it is 0.18x the share price, outside the 0.2-5x range we accept), so it can't be the basis of a rating.

Price vs value

Under review: our cash-flow value ($65.68) was left out of our combined valuation (it is 0.18x the share price, outside the 0.2-5x range we accept), so it can't be the basis of a rating. We'll show the comparison once resolved.

Talen Energy Corp valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 1 selling0 purchases and 1 sale by directors and officers, last 12 monthsInsider trades
  • Funds376 adding, 263 cuttingOf 90 active managers that changed their stake, 47 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Talen Energy files

Where Talen Energy stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $3.44bn, up 60.8% on a year earlier, slower than 66.3% a quarter earlier. That growth ranks 30 of 931 among all the companies we cover. Free-cash-flow margin rose to 16.5% from -2.3% a year earlier. Operating margin narrowed to 2.6% from 6.3%. The diluted share count is down 8.5% on a year earlier, which lifts each remaining share. Against its peers on growth, profitability, cash generation and balance sheet, it grades D. It passes 0 of our 5 financial-health checks. Our cash-flow model value is $-115.88 a share, against a share price of $353.

Our model value for Talen Energy is under review, so past values are not shown until it is resolved.

Source: 10-Q filed August 5, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 3, 2026 (estimated)

Talen Energy Corp's trailing-twelve-month revenue grew 71.9% year on year, with a free-cash-flow margin of 10.0%. Where it stands out: revenue growth of 71.9% ranks 1 of 5 independent power producers & energy traders companies we cover. Where it lags: operating margin of 2.0% ranks 5 of 5 independent power producers & energy traders companies we cover.

Our discounted-cash-flow model values the business at ~$66 per share in the base case (—–$150 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Balance sheet growing far ahead of sales: Total assets grew 147% year over year while revenue grew 72% — the balance sheet is expanding 76 points faster than the business it supports.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 71.9% over the last 12 months, against a median of 12.8% for independent power producers & energy traders companies we cover.
  • Growth speeding up. The growth rate is 11.1 points higher than a quarter earlier.
  • Shrinking share count. Diluted shares fell 6.6% in a year, so each share owns more of the business.
  • Estimates rising. Analysts' consensus for next year's earnings per share has risen 12.8% over 90 days.

Things to watch

  • Margins narrowing. Operating margin is down 8.4 points on a year ago.
  • Heavy stock-based pay. Stock pay equals 15.3% of revenue: a real cost that cash-flow figures leave out.
  • High debt. Long-term debt exceeds cash by $9.2bn, more than 1.5 times annual revenue.
  • Volatile shares. Over the past year the shares showed annualised volatility of 56% and a beta of 2.0 against the S&P 500.
  • Below peers: operating margin. Operating margin of 2.0% ranks 5 of 5 independent power producers & energy traders companies we cover (median 5.8%).
  • Below peers: net margin. Net margin of -6.4% ranks 5 of 5 independent power producers & energy traders companies we cover (median -0.2%).

Latest results: FY2026 Q3

Filed November 3, 2026
Earnings per share
$2.37 against an average estimate of $3.39: missed by 30.0%
Revenue
$1.33bn, up 63.4% on a year earlier
Guidance given
adjusted EBITDA $2,025m to $2,225m (2026); adjusted Free Cash Flow $1,200m to $1,350m (2026)
Next report
November 3, 2026; average EPS estimate $7.46

Talen Energy's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-3.0%
  • 1 week-1.4%
  • 1 month+3.8%
  • This year-11.2%
  • 1 year-16.7%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$4B
Operating margin
2.0%
Net margin
-6.4%
EPS (TTM, diluted)
$-5.59

Growth

Revenue growth
+71.9%
Change in growth rate
+11.1 pts
Share count change
−6.6%

Cash

Free cash flow (TTM)
$396M
FCF margin
10.0%
Stock pay % of revenue
15.3%

Earnings

Last results
November 3, 2026
Next results (est.)
February 1, 2027

News & updates

Updated November 3, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Leadership
  3. Results
  4. Guidance
  5. Announcement

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Talen Energy Corp valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: held for review: our cash-flow value ($65.68) was left out of our combined valuation (it is 0.18x the share price, outside the 0.2-5x range we accept), so it can't be the basis of a rating.

Our value per share comes from a discounted-cash-flow model of Talen Energy Corp's free cash flow after stock-based pay ( $187M, FY2026 Q3 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.

Valuation models

We value Talen Energy Corp as an utility or power producer, with every model that fits that kind of business. Cost of equity 9.3%: the 10-year Treasury yield (4.9%) plus a beta of 0.97 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$66 Left out: out of range vs price (0.18x)
Utility earnings model Net income growing 3% a year, discounted at 8%: for regulated investment that makes free cash flow negative. — Does not apply: This model is withheld pending its input or assumption review.
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$500 ~$500–$610 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$57 ~$49–$68 Left out: out of range vs price (0.16x)
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$59 ~$40–$89 Left out: out of range vs price (0.17x)
Dividend discount (two-stage) Dividends for five years at the growth the business can fund, then a steady payout and growth. — Does not apply: This model is withheld pending its input or assumption review.
Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. — Combined value withheld. Review the individual models and their assumptions.

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Talen Energy Corp with utilities and power producers in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20242025Now
Share price$201.47$374.84$332.99
Market value$11.4bn$17.1bn$15.1bn
+ Net debt (− = net cash)$2.7bn$6.2bn$9.4bn
Enterprise value$14.1bn$23.3bn$24.5bn
Multiples
Price / sales 5.4x6.6x3.8x
Price / earnings 11.4x——
Price / free cash flow 66.6x28.3x38.2x
EV / EBITDA 26.9x123.5x48.4x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 3, 2026, before the open. Analysts expect revenue of $1.3bn and EPS of $7.46 (range $6.62 to $8.29) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $22.87 +152% $4.5bn +74%
Next $32.13 +41% $5.3bn +18%

Next year's EPS estimate has moved +12.8% in 90 days, across 5 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +10.3% on 90 days ago. In the last 30 days, 0 analysts raised Talen Energy Corp's forecast and 1 cut it.

Consensus EPS forecast Talen Energy Corp, last 90 days
$20.00 $25.00 $30.00 $35.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $20.73 Current fiscal year, 60 days ago: $22.31 Current fiscal year, 30 days ago: $22.26 Current fiscal year, 7 days ago: $22.08 Current fiscal year, Now: $22.87 $22.87 Next fiscal year, 90 days ago: $28.50 Next fiscal year, 60 days ago: $30.77 Next fiscal year, 30 days ago: $30.75 Next fiscal year, 7 days ago: $30.99 Next fiscal year, Now: $32.13 $32.13

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $20.73$28.50
60 days ago $22.31$30.77
30 days ago $22.26$30.75
7 days ago $22.08$30.99
Now $22.87$32.13

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $3.39 $2.37 −30.0%
Mar 2026 $4.25 $4.38 +2.9%
Dec 2025 $4.33 $4.38 +1.2%
Sept 2025 $3.67 $3.29 −10.3%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 5, 2026
  • Adjusted EBITDA 2026 $2,025m to $2,225m Non-GAAP Raised
    “Raising 2026 Adjusted EBITDA and Adjusted Free Cash Flow guidance ranges to $2,025 million - $2,225 million and $1,200 million - $1,350 million, respectively.” source
  • Adjusted Free Cash Flow 2026 $1,200m to $1,350m Non-GAAP Raised
    “Raising 2026 Adjusted EBITDA and Adjusted Free Cash Flow guidance ranges to $2,025 million - $2,225 million and $1,200 million - $1,350 million, respectively.” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows Talen Energy Corp's revenue by +23.3% next year and +14.4% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+29.0%, weight 64%) and the company's own record (+13.0%, weight 36%) . How the weights are set.

Analyst recommendations

20 analysts, Oct 2026
Buy1890%
Hold210%
Sell00%

Monthly trend

  1. Oct 2026612220
  2. Sep 202669217
  3. Aug 2026610218
  4. Jul 202669217

Counts of recommendations published by analysts covering Talen Energy Corp, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
10.0%
of tradable shares
Days to cover
3.72
at average volume
Short interest, 1 month
+56%
to October 15, 2026
Held by institutions
—
of shares
Held by insiders
1.4%
of shares
Employees
1,880
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

What moved the share price

Last 12 months −16.7%

$399.78 on October 31, 2025 to $332.99

ThenNowEffect
Revenue (last 12 months) $2.1bn $3.4bn +60.8%
P/S multiple 9.3x 4.4x −52.6%
Share count 50m 46m +9.2%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202420252026 to date
Return
TLN+215%+86%−11%
Industry peers (median)—+18%−44%
S&P 500+25%+18%+11%
Months that ended higher
TLN83%58%46%
S&P 50075%75%46%
Largest fall from a high during the year
TLN−19%−34%−36%
S&P 500−8%−19%−9%

Worst fall since June 2, 2023: 37% from October 8, 2025 to September 15, 2026. Getting back needed a 58% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$282.15 – $438.12
From 52-week high
−24.0%
vs 50-day average
+2.5%
vs 200-day average
−4.6%
Volatility (1 year)
57%
Beta vs S&P 500
1.99

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
2 up, 7 down
typical move ±3.8%
After a week
5 up, 4 down
typical move ±8.2%
After a month
4 up, 5 down
typical move ±10.3%
Results releasedNext dayS&P 500 next day5 days21 days
August 5, 2026 −0.5% −0.4% +7.4% −10.1%
May 5, 2026 +6.6% +2.2% −2.6% −1.7%
February 26, 2026 −5.2% −1.0% −14.5% −17.1%
November 5, 2025 −2.4% −0.7% −7.0% −10.4%
August 7, 2025 −1.1% +0.7% +0.5% +1.3%
May 8, 2025 −2.7% +0.6% +5.8% +11.1%
February 27, 2025 −4.5% −0.1% −17.1% −9.3%
November 14, 2024 −2.9% −1.9% +6.5% +1.3%
August 13, 2024 +8.4% +2.0% +12.1% +30.3%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Talen Energy Corp in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Talen Energy Corp
$1B $2B $3B $4B $5B FY16 Q2 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY16 Q2: $4.3B Revenue (TTM), FY16 Q3: $4.2B Revenue (TTM), FY24 Q2: $2B Revenue (TTM), FY24 Q3: $2.2B Revenue (TTM), FY24 Q4: $2.1B Revenue (TTM), FY25 Q1: $2B Revenue (TTM), FY25 Q2: $2.1B Revenue (TTM), FY25 Q3: $2.3B Revenue (TTM), FY25 Q4: $2.6B Revenue (TTM), FY26 Q1: $3.3B Revenue (TTM), FY26 Q2: $3.4B Revenue (TTM), FY26 Q3: $4B $4B

Source: SEC EDGAR filings. Retrieved November 3, 2026.

View chart data
Period Revenue (TTM)
FY16 Q2 $4.3B
FY16 Q3 $4.2B
FY24 Q2 $2B
FY24 Q3 $2.2B
FY24 Q4 $2.1B
FY25 Q1 $2B
FY25 Q2 $2.1B
FY25 Q3 $2.3B
FY25 Q4 $2.6B
FY26 Q1 $3.3B
FY26 Q2 $3.4B
FY26 Q3 $4B
Revenue growth, TTM YoY Talen Energy Corp
-50% 0% 50% 100% FY15 Q4 FY16 Q2 FY25 Q2 FY25 Q4 FY26 Q3 Revenue growth, TTM YoY, FY15 Q4: -2.2% Revenue growth, TTM YoY, FY16 Q1: -3.4% Revenue growth, TTM YoY, FY16 Q2: -5.9% Revenue growth, TTM YoY, FY16 Q3: -10.2% Revenue growth, TTM YoY, FY25 Q2: 4.7% Revenue growth, TTM YoY, FY25 Q3: 5.7% Revenue growth, TTM YoY, FY25 Q4: 22.0% Revenue growth, TTM YoY, FY26 Q1: 66.3% Revenue growth, TTM YoY, FY26 Q2: 60.8% Revenue growth, TTM YoY, FY26 Q3: 71.9% 71.9%

Source: SEC EDGAR filings. Retrieved November 3, 2026.

View chart data
Period Revenue growth, TTM YoY
FY15 Q4 -2.2%
FY16 Q1 -3.4%
FY16 Q2 -5.9%
FY16 Q3 -10.2%
FY25 Q2 4.7%
FY25 Q3 5.7%
FY25 Q4 22.0%
FY26 Q1 66.3%
FY26 Q2 60.8%
FY26 Q3 71.9%
Operating margin (TTM) Talen Energy Corp
-5% 0% 5% 10% 15% 20% FY16 Q2 FY24 Q3 FY25 Q2 FY26 Q3 Operating margin (TTM), FY16 Q2: 2.5% Operating margin (TTM), FY16 Q3: 15.3% Operating margin (TTM), FY24 Q2: 7.7% Operating margin (TTM), FY24 Q3: 14.2% Operating margin (TTM), FY24 Q4: 10.7% Operating margin (TTM), FY25 Q1: 4.8% Operating margin (TTM), FY25 Q2: 6.3% Operating margin (TTM), FY25 Q3: 10.4% Operating margin (TTM), FY25 Q4: -3.5% Operating margin (TTM), FY26 Q1: 6.8% Operating margin (TTM), FY26 Q2: 2.6% Operating margin (TTM), FY26 Q3: 2.0% 2.0%

Source: SEC EDGAR filings. Retrieved November 3, 2026.

View chart data
Period Operating margin (TTM)
FY16 Q2 2.5%
FY16 Q3 15.3%
FY24 Q2 7.7%
FY24 Q3 14.2%
FY24 Q4 10.7%
FY25 Q1 4.8%
FY25 Q2 6.3%
FY25 Q3 10.4%
FY25 Q4 -3.5%
FY26 Q1 6.8%
FY26 Q2 2.6%
FY26 Q3 2.0%
FCF margin (TTM) Talen Energy Corp
-10% 0% 10% 20% 30% FY16 Q2 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY16 Q2: 1.9% FCF margin (TTM), FY16 Q3: 1.2% FCF margin (TTM), FY24 Q2: 20.2% FCF margin (TTM), FY24 Q3: 16.3% FCF margin (TTM), FY24 Q4: 8.1% FCF margin (TTM), FY25 Q1: 6.2% FCF margin (TTM), FY25 Q2: -2.3% FCF margin (TTM), FY25 Q3: 14.6% FCF margin (TTM), FY25 Q4: 23.5% FCF margin (TTM), FY26 Q1: 27.8% FCF margin (TTM), FY26 Q2: 16.5% FCF margin (TTM), FY26 Q3: 10.0% 10.0%

Source: SEC EDGAR filings. Retrieved November 3, 2026.

View chart data
Period FCF margin (TTM)
FY16 Q2 1.9%
FY16 Q3 1.2%
FY24 Q2 20.2%
FY24 Q3 16.3%
FY24 Q4 8.1%
FY25 Q1 6.2%
FY25 Q2 -2.3%
FY25 Q3 14.6%
FY25 Q4 23.5%
FY26 Q1 27.8%
FY26 Q2 16.5%
FY26 Q3 10.0%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2022 Dec 2022 2024 Dec 2024 2025 Dec 2025 LTM Sept 2026
Income
Revenue 4,495 4,581 4,481 3,089 2,115 2,581 3,952
EBITDA 6 694 317 761 524 189 506
Operating income −293 397 −39 241 226 −90 80
Net income −230 410 −341 −1,289 998 −219 −254
Diluted EPS −$2.75 $4.91 −$3.10 — $17.67 −$4.79 −$5.59
Growth (year on year)
Revenue — +1.9% −2.2% −31.1% −31.5% +22.0% +71.9%
EBITDA — — −54.3% +140.1% −31.1% −63.9% −2.1%
Operating income — — −109.8% — −6.2% −139.8% −66.5%
Net income — — −183.2% — — −121.9% −212.4%
Diluted EPS — — −163.1% — — −127.1% −220.4%
Margins
EBITDA margin 0.1% 15.1% 7.1% 24.6% 24.8% 7.3% 12.8%
Operating margin −6.5% 8.7% −0.9% 7.8% 10.7% −3.5% 2.0%
Net margin −5.1% 8.9% −7.6% −41.7% 47.2% −8.5% −6.4%
Free-cash-flow margin −3.8% 1.0% 7.1% −1.5% 8.1% 23.5% 10.0%
Cash flow
Cash from operations 410 462 768 187 256 704 770
Capital spending 583 416 451 232 85 98 374
Free cash flow −173 46 317 −45 171 606 396
Stock-based pay — — 18 0 33 526 604
Free cash flow after stock pay — — 299 −45 138 80 −208
Balance sheet
Cash 239 352 141 988 328 689 335
Total debt 0 2,848 4,811 0 3,038 6,911 9,689
Net debt (negative = net cash) −239 2,496 4,670 −988 2,710 6,222 9,354
Diluted shares 84m 84m 110m — 56m 46m 45m
Returned to shareholders
Buybacks — — — 0 1,958 103 502
Total returned — — — 0 1,958 103 502

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

0 of 5 checks passed · September 30, 2026
What it owns · $15.1bn
Short-term assets $1.2bnLonger-term assets $13.9bn
What it owes, and who funded it · $15.1bn
Short-term liabilities $1.3bnLonger-term liabilities $12.2bnShareholders' equity $1.6bn
  • Short-term assets cover short-term liabilities $1.2bn of assets due within a year against $1.3bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $1.2bn short-term assets against $12.2bn of longer-dated liabilities.
  • More cash than debt $335m of cash against $9.6bn of debt.
  • Debt below 40% of shareholders' equity Debt is 606% of equity.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt $770m of operating cash flow against $9.6bn of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Talen Energy Corp's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q3 TTM
Buybacks (TTM)
$502M
Returned to shareholders
127%
of free cash flow
Buybacks, last 3 fiscal years
$2.1B
Diluted share count
−6.6%
year over year
Total shareholder yield
3.0%
dividends 0.0% + buybacks 3.0% of market value
Days sales outstanding
24 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in independent power producers & energy traders
Last 12 months unless stated TLN TAC KEN NRG HNRG Median
Revenue, last 12 months $4.0bn $1.7bn $872m $33.1bn $452m $1.7bn
Revenue growth, last 12 months 71.9% −17.1% 16.1% 12.8% 7.9% 12.8%
Revenue growth, 3-year average −4.7% — — 2.9% −8.3% −4.7%
Revenue growth, latest quarter 63.4% — — 11.0% −1.3% 11.0%
Gross margin — 59.0% 16.8% 25.9% 23.9% 24.9%
Operating margin 2.0% 5.8% 7.2% 6.1% 3.7% 5.8%
Operating margin, 3-year average 8.9% 1.0% 7.8% 7.7% −13.1% 7.7%
Net margin −6.4% −5.7% 7.6% 2.6% −0.2% −0.2%
Cash from operations / revenue 19.5% 26.9% 32.5% 4.7% 6.2% 19.5%
Free-cash-flow margin 10.0% 16.0% 19.2% 1.1% −11.2% 10.0%
Free-cash-flow margin, 3-year average 13.6% 15.0% 21.4% 3.9% −2.9% 13.6%
Stock pay / revenue 15.3% — 5.0% 0.4% 1.0% 3.0%
Change in share count −6.6% −1.7% −1.1% −0.2% 5.3% −1.1%

Median of all 5 companies we cover in independent power producers & energy traders. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

5 independent power producers & energy traders companies
Measure Company Peer median Rank
Revenue growth Growth 71.9% 12.8% 1 of 5
Change in growth rate Growth +11.1pp +2.2pp 1 of 5
Operating margin Profitability 2.0% 5.8% 5 of 5
Net margin Profitability -6.4% -0.2% 5 of 5
Free-cash-flow margin Cash generation 10.0% 10.0% 3 of 5
Long-term debt as % of assets Balance sheet 63.2% 39.5% 5 of 5
Change in share count Balance sheet -6.6% -1.1% 1 of 5

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue YoY
Energy and Other $2.1B ▲ 13.8%
Electricity Sales and Ancillary Services $1.9B ▲ 69.6%
Operating Revenue Capacity $485M ▲ 152.6%
Physical Electricity Sales Bilateral Contracts Other $93M ▼ 36.7%
Other $0 ▼ 100.0%
Commodity Contracts Unrealized Gain Loss -$45M ▼ 207.1%

These categories overlap or exclude eliminations, so shares aren't shown.

From Talen Energy Corp's 10-K filed February 26, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$18.7B
Institutions reporting
641
Shares held vs prior quarter
▲ 6.4%
Positions opened / closed
138 / 73

Top buyers and sellers, Q2 2026: 376 institutions bought and 263 sold ; the biggest buyer was Ecp Controlco, LLC (+2.4M shares) and the biggest seller Lone Pine Capital LLC (−1.8M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $1.7B 4.4M 9.0% ▲ 6.5%
Rubric Capital Management LP $1.4B 3.6M 7.4% 0.0%
Mfn Partners Management, LP $1.2B 3.0M 6.2% 0.0%
Ecp Controlco, LLC $922M 2.4M 4.9% New
Vanguard Portfolio Management LLC $833M 2.2M 4.5% ▲ 3.4%
Vanguard Capital Management LLC $789M 2.1M 4.2% ▲ 0.3%
Fred Alger Management, LLC $594M 1.5M 3.2% ▲ 30.4%
Reaves W H & Co Inc $567M 1.5M 3.0% ▼ 2.3%
State Street Corp $530M 1.4M 2.8% ▲ 2.7%
Sachem Head Capital Management LP $526M 1.4M 2.8% ▼ 11.5%
Geode Capital Management, LLC $367M 954K 2.0% ▲ 4.8%
Assenagon Asset Management S.A. $334M 869K 1.8% ▲ 466.7%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Talen Energy Corp's complete shareholder register. Values are as reported by the filers ; 1 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $988,000 1 trade by 1 insider · 0% under pre-set plans
Net ▼ $988,000 net selling
Insider Date Trade Shares Price Value
Abbas Gizman I Director June 15, 2026 Sell 2,600 $380.00 $988,000

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 3 trades and filings

No trades in Talen Energy Corp disclosed in the last 12 months; 3 earlier trades on record.

  • Keith J. Rothfus(PA):Sale (full), $1,001 - $15,000, traded December 6, 2016, filed May 15, 2017
  • Pete Sessions(R-TX 32):Sale (full), $258.00, traded August 26, 2015, filed May 18, 2016
  • Keith J. Rothfus(PA):Exchange, $1,001 - $15,000, traded June 1, 2015, filed June 15, 2016

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around February 1, 2027 estimated from the company's past filing pattern, not announced

  • November 3, 2026
  • August 5, 2026
  • May 5, 2026
  • February 26, 2026
  • November 5, 2025
  • August 7, 2025

Recent SEC filings

Data status

When each part of this page on Talen Energy Corp was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Talen Energy Corp in brief

What does Talen Energy Corp do?
Talen Energy Corp is a US-listed company in the independent power producers & energy traders industry. Its financial year ends in December.
What is Talen Energy Corp's stock ticker?
Talen Energy Corp trades under the ticker TLN on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Talen Energy Corp's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Talen Energy Corp reported revenue of $4B, 71.9% higher than a year earlier, according to its SEC filings.
What is Talen Energy Corp's free cash flow?
Talen Energy Corp's free-cash-flow margin is 10.0% of revenue over the trailing twelve months, ranking 3 of the 5 independent power producers & energy traders companies we cover.
Who are Talen Energy Corp's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Rubric Capital Management LP and Mfn Partners Management, LP. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Talen Energy Corp buying back stock, and does it pay a dividend?
Talen Energy Corp spent $502M on share repurchases over the trailing twelve months, and its diluted share count fell 6.6% over the year.
What is Talen Energy Corp's market cap?
On November 2, 2026, Talen Energy Corp's market capitalisation was about $15.1B and net debt of $9.4B. Market figures come from third-party market data and may be delayed.
How much debt does Talen Energy Corp have?
Talen Energy Corp's debt-to-equity ratio is 605.6%, from its latest balance sheet. The financial health section below sets out its other solvency checks.
Who are Talen Energy Corp's competitors?
In our Independent Power Producers & Energy Traders peer group, the companies closest to Talen Energy Corp are Transalta Corp, Kenon Holdings Ltd., NRG Energy and Hallador Energy Co. The side-by-side comparison below sets their revenue, margins and growth against Talen Energy Corp's.
Are insiders buying or selling Talen Energy Corp stock?
Over the last 12 months, Talen Energy Corp's directors and officers reported 0 open-market purchases and 1 sales on Form 4. The insider trading page charts every trade.
When is Talen Energy Corp's next earnings date?
Around November 3, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Talen Energy Corp announces its own schedule.