YouTube · Q3 2026 · 2026-11-09
TLN · NasdaqGS
Talen Energy Corporation
Utilities - Independent Power Producers · United States
USD 378.714.9% daily changeQuote 2026-11-11 · USD
- Market cap (USD)
- US$16.48B
- Trailing P/E
- —
- Forward P/E
- 13.49x
- Quarterly revenue growth
- 96.1%
- Trailing net margin
- -5.7%
- Indicated dividend yield
- —
Snapshot 2026-11-11 · Latest financial period 2026-09-30 · Yahoo Finance. Quotes may be delayed; reporting periods can differ.
Company background
Talen Energy Corporation, an independent power producer and infrastructure company, produces and sells electricity, capacity, and ancillary services into wholesale power markets in the United States. The company's plants generate power using a variety of fuels, such as nuclear, fossil, oil, natural gas, and coal power plants. It owns and operates approximately 13.1 GW of power infrastructure. Talen Energy Corporation was incorporated in 2014 and is headquartered in Houston, Texas.
Company websiteQ3 2026
Go beyond the headline.
TLN Stock: The Buyback Uses Future Cash — Talen Q3 2026 Earnings
Published 2026-11-04
Q3 2026 REPORT HIGHLIGHTS
What’s changed for TLN
Talen’s acquired-fleet earnings, capacity-funded buyback and cash claims support a conditional $340 enterprise anchor; cash-guidance treatment remains unresolved.
The acquired fleet is contributing.
Generation more than doubled, with a changed asset base.
The current-year midpoint did not rise.
The 2026 range narrowed; 2027 guidance is new.
Adjusted cash is not residual cash.
Q3 actual operating cash after PPE and nuclear fuel is $261M versus $433M adjusted FCF.
The buyback has a future cash cost.
Capacity receipts of $432M, $757M and $311M are committed across 2027–29.
The cash model is conditional.
Enterprise value is $338; equity cash routes span $335–446 depending on guidance treatment. Provisional base $340; weighted $328.
Comparable businesses
TLN peer comparison
Same business group first, then company size. Preferred market cap: 0.5–2x; extended range: one-third–3x. Outside that range, industry benchmarks are labeled separately and excluded from peer medians.
| Metric | TLNTalen Energy CorporationSnapshot 2026-11-11Financial period: 2026-09-30 | NRGNRG Energy, Inc.Snapshot 2026-11-11Financial period: 2026-09-30 | VSTVistra Corp.Snapshot 2026-11-11Financial period: 2026-09-30 | Peer medianSimilar-size peers only |
|---|---|---|---|---|
| Market capMarket value, converted to USD | US$16.48B | US$20.48B | US$45.29B | US$32.88Bn=2 |
| Forward P/EProvider forward earnings estimate | 13.49x | 9.70x | 13.93x | 11.81xn=2 |
| EV / EBITDAEnterprise value / trailing EBITDA | 37.04x | 10.72x | 8.42x | 9.57xn=2 |
| Revenue growthLatest quarter vs prior-year quarter | 96.1% | 24.0% | 27.7% | 25.9%n=2 |
| Operating marginLatest reported quarter | 3.3% | 7.9% | 23.0% | 15.4%n=2 |
| Free cash flow yieldTrailing cash flow / market cap | 5.7% | 6.8% | 2.0% | 4.4%n=2 |
| Net debt / EBITDANet debt / trailing EBITDA | 13.69x | 5.60x | 2.42x | 4.01xn=2 |
| Debt / equityTotal debt / positive book equity | 5.97x | 4.39x | 3.37x | 3.88xn=2 |
| Trailing P/ETrailing twelve-month earnings | — | 17.05x | 18.03x | 17.54xn=2 |
| Price / bookPrice / positive book equity per share | 11.34x | 4.43x | 11.66x | 8.05xn=2 |
| EV / salesEnterprise value / trailing revenue | 5.57x | 1.26x | 3.21x | 2.24xn=2 |
| Earnings growthLatest quarter vs prior-year quarter | -32.2% | 275.4% | 84.6% | 180.0%n=2 |
| Gross marginTrailing twelve months | 42.7% | 20.2% | 41.5% | 30.9%n=2 |
| Net marginTrailing twelve months | -5.7% | 3.6% | 13.1% | 8.4%n=2 |
| Return on equityProvider trailing return; positive equity only | -16.5% | 34.7% | 46.3% | 40.5%n=2 |
| Free cash flow marginTrailing free cash flow / revenue | 21.0% | 4.0% | 4.4% | 4.2%n=2 |
| Dividend yieldIndicated annual dividend / price | — | 1.9% | 0.7% | 1.3%n=2 |
| Earnings payoutProvider trailing dividend payout | 0.0% | 32.6% | 12.4% | 22.5%n=2 |
| Current ratioCurrent assets / current liabilities | 0.89x | 0.99x | 1.16x | 1.07xn=2 |
| BetaProvider historical market sensitivity | 1.58 | 1.20 | 1.38 | 1.29n=2 |
YouTube · Q3 2026 · 2026-11-09
YouTube · Q3 2026 · 2026-11-09
Comparison methodology & limitations
Reviewed operating groups override broad sector classifications. Other companies are matched only within a sufficiently specific provider industry. Business mix, geography and accounting standards can still differ. Market caps are converted to USD using exchange rates captured during the snapshot refresh. Financial ratios that would mix currencies are omitted. Snapshots must be at most 14 days old and no more than seven days apart for automatic selection.
Peer medians require at least two valid similar-size peers for each metric. Negative earnings, nonpositive equity, missing data and irrelevant bank ratios are not presented as attractive valuations. A higher or lower number is not automatically a better investment. Financial statement periods are not calendar-aligned across companies.
Reported performance
Financial trends
Periods are grouped by their ending calendar year or quarter, not identical fiscal calendars. Exact period-end dates appear in tooltips and reported figures. When reporting currencies differ and a recent captured FX rate is available, money and EPS are normalized to USD for comparison. This is not a historical FX restatement. Gaps are not estimated.
Financial statements load separately from the research page.
Source: . Window ends at the latest available reporting period.
Revenue
Reported figures
Financial data & calculation notes
Standalone charts use the stated reporting currency. When a chart comparison spans currencies, money and EPS can be normalized to USD using a recent captured FX snapshot; this is for comparison only, not a historical FX restatement. Stock-based compensation is noncash. Free cash flow is operating cash flow less capital spending, which may include capitalized software. Missing metrics are not estimated or assumed to be zero. Banking and insurance ratios require industry-specific interpretation. Latest restatements may differ from figures in older episodes.
Market context
Valuation & price history
Adjusted closing price
Price history loads separately.
Price figures
Earnings-multiple scenario
Illustrative price = your earnings-per-share assumption × your P/E assumption. This is not a price target or a complete valuation model.
Starting assumptions, when available, use provider forward estimates as of 2026-11-11. Negative earnings require a different valuation method. This calculation omits balance-sheet, dilution and execution risks.
THE RESEARCH RECORD
Research history for TLN
Q3 20262026-11-04
FREE RESEARCH PACKET · Q3 2026
TLN: The fleet earns more. The buyback spends tomorrow’s cash.
Talen’s acquired-fleet earnings, capacity-funded buyback and cash claims support a conditional $340 enterprise anchor; cash-guidance treatment remains unresolved.
Research published November 3, 2026 · Download original report
Read Research PacketTLN Stock: The Buyback Uses Future Cash — Talen Q3 2026 Earnings
Presentation · 2026-11-04 · YouTube
Q2 20262026-08-06
Talen Energy (TLN): The $5.21 Miss That Never Happened. And A Guidance Raise.
Presentation · 2026-08-06 · YouTube
Short takes Q2 2026
TLN: The $5.21 Miss That Never Happened #shorts
Watch Short on YouTube
Q1 20262026-05-09
TLN Stock: Revenue Up 11% — Q1 2026 Earnings Analysis
Presentation · 2026-05-09 · YouTube