Latest Ratios: P/E Ratio -78.9x · EV/EBITDA 112.1x · ROE -17.7%. (2015–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2015 |
|---|---|---|---|---|---|---|---|
| Market Cap | $17.3B | $17.1B | $11.4B | $3.8B | — | — | — |
| Enterprise Value | $23.3B | $23.2B | $14.1B | $6.2B | — | — | — |
| P/E Ratio → | -78.87 | — | 11.40 | 6.17 | — | — | — |
| P/S Ratio | 6.84 | 6.78 | 5.49 | 1.55 | — | — | — |
| P/B Ratio | 15.79 | 15.67 | 8.20 | 1.49 | — | — | — |
| P/FCF | — | — | 8.83 | 7.32 | — | — | — |
| P/OCF | 28.07 | 27.85 | 46.83 | 4.37 | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2015 |
|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 9.18 | 6.78 | 2.54 | — | — | — |
| EV / EBITDA | 112.13 | 111.47 | 21.72 | 10.49 | — | — | — |
| EV / EBIT | — | 170.49 | 10.42 | 13.19 | — | — | — |
| EV / FCF | — | — | 10.90 | 12.01 | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2015 |
|---|---|---|---|---|---|---|---|
| Gross Margin | 49.7% | 49.7% | 32.0% | 43.3% | 31.9% | 13.7% | 5.6% |
| Operating Margin | -2.8% | -2.8% | 10.9% | 3.4% | 10.0% | -62.0% | 3.8% |
| Net Profit Margin | -8.7% | -8.7% | 48.1% | 25.1% | -53.4% | -55.0% | -9.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2015 |
|---|---|---|---|---|---|---|---|
| ROE | -17.7% | -17.7% | 50.9% | 59.7% | -1027.1% | -133.3% | -7.9% |
| ROA | -2.6% | -2.6% | 15.1% | 6.9% | -12.4% | -9.7% | -2.7% |
| ROIC | -0.9% | -0.9% | 3.8% | 1.6% | 4.5% | -15.9% | 1.2% |
| ROCE | -0.9% | -0.9% | 3.7% | 1.3% | 3.9% | -16.8% | 1.3% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2015 |
|---|---|---|---|---|---|---|---|
| Debt / Equity | 6.23 | 6.23 | 2.17 | 1.11 | — | 6.47 | 1.12 |
| Debt / EBITDA | 32.75 | 32.75 | 4.64 | 4.77 | 4.92 | — | 6.71 |
| Net Debt / Equity | — | 5.54 | 1.93 | 0.96 | — | 6.09 | 1.09 |
| Net Debt / EBITDA | 29.13 | 29.13 | 4.13 | 4.09 | 3.81 | — | 6.51 |
| Debt / FCF | — | — | 2.08 | 4.69 | — | — | — |
| Interest Coverage | 0.45 | 0.45 | 5.67 | 1.40 | -2.70 | -2.93 | 0.65 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2015 |
|---|---|---|---|---|---|---|---|
| Current Ratio | 1.28 | 1.28 | 2.29 | 3.20 | 0.88 | 0.80 | 1.32 |
| Quick Ratio | 1.02 | 1.02 | 1.62 | 2.43 | 0.78 | 0.68 | 1.08 |
| Cash Ratio | 0.72 | 0.72 | 0.72 | 0.82 | 0.20 | 0.08 | 0.39 |
| Asset Turnover | — | 0.23 | 0.34 | 0.34 | 0.22 | 0.18 | 0.28 |
| Inventory Turnover | 4.57 | 4.57 | 4.67 | 3.69 | 3.59 | 3.80 | 6.71 |
| Days Sales Outstanding | — | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2015 |
|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2015 |
|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | 8.8% | 16.2% | — | — | — |
| FCF Yield | — | — | 11.3% | 13.7% | — | — | — |
| Buyback Yield | 0.6% | 0.6% | 17.2% | 1.1% | — | — | — |
| Total Shareholder Yield | 0.6% | 0.6% | 17.2% | 1.1% | — | — | — |
| Shares Outstanding | — | $46M | $56M | $59M | $45M | $45M | $110M |
Regulatory and leverage exposure
As reported in recent financial statements, Talen Energy's forward P/E of 18.33 suggests that the market is attempting to price the company as a high-growth infrastructure play rather than a traditional merchant generator, despite the lack of a dividend yield to anchor its valuation.
The negative TTM P/E of -84.36 reflects the lingering impact of fresh-start accounting and historical bankruptcy-related charges, which obscures the underlying earnings power. Investors should monitor whether the forward multiple can be sustained as the company transitions from a merchant power model to a contracted infrastructure provider.
According to recent SEC filings, the company maintains a debt-to-capital ratio of 0.86 as of 2026Q1, indicating that the firm remains highly levered following its emergence from Chapter 11 bankruptcy and faces significant constraints on its ability to fund future capital-intensive infrastructure projects.
The interest coverage ratio of 1.76 in the most recent quarter highlights a thin margin for error, particularly given the volatility inherent in merchant power markets. This leverage profile warrants further investigation into the company's debt maturity schedule and its ability to refinance obligations in a fluctuating interest rate environment.
Based on the provided peer data, Talen Energy's P/B ratio of 16.89 significantly exceeds that of Constellation Energy at 5.58, suggesting that the market may be assigning a premium to Talen's specific data center co-location strategy despite its higher operational risk profile.
While the company shares nuclear-centric assets with peers like CEG, its higher debt-to-equity ratio and recent bankruptcy history suggest that the valuation premium may be speculative. Analysts should compare the realized margins on data center contracts against the broader merchant fleet performance to determine if this premium is fundamentally justified.
As noted in recent market commentary, the P/E ratio is frequently misapplied to Talen Energy, as it fails to account for the massive non-cash depreciation charges resulting from fresh-start accounting that artificially depress net income and distort the company's true earnings power.
Investors should instead focus on EV/EBITDA or asset-replacement cost metrics to better capture the value of the company's licensed nuclear capacity and infrastructure contracts. Relying on P/E in this context obscures the underlying cash-generating potential of the business and may lead to an incorrect assessment of its valuation relative to traditional utilities.
Includes 30+ ratios · 6 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
See how regular investing compounds over time.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying TLN stock.
Talen Energy Corporation's current P/E ratio is -78.9x. The historical average is 8.8x.
Talen Energy Corporation's current EV/EBITDA is 112.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 16.1x.
Talen Energy Corporation's return on equity (ROE) is -17.7%. The historical average is -9.6%.
Based on historical data, Talen Energy Corporation is trading at a P/E of -78.9x. Compare with industry peers and growth rates for a complete picture.
Talen Energy Corporation has 49.7% gross margin and -2.8% operating margin.
Talen Energy Corporation's Debt/EBITDA ratio is 32.7x, indicating high leverage. A ratio above 4x may signal elevated financial risk.