Talen Energy
Owns and operates a ~10.7 GW generation fleet (Susquehanna nuclear core) and earns money three ways: (1) long-term contracted PPAs to hyperscalers (AWS, $18B through 2042), (2) PJM/ERCOT merchant energy + spark spreads, and (3) PJM capacity-market revenue. Capital-intensive, asset-heavy; thesis is contracting scarce carbon-free baseload to AI data centers.
The thesis on this name
State of Data-Center Power
State of Data-Center Power
State of Data-Center Power
Reported financials — SEC EDGAR
Audited GAAP figures pulled from SEC filings · latest filing 2026-02-26. The audited primary-source spine — not financial advice.
Revenue — annual (GAAP)
Margins & balance sheet — FY’25
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Full financial intelligence for Talen Energy
Earnings, margins & COGS, the income-statement breakdown, SWOT, moats & dependencies, the supplier–customer ecosystem graph, top signals & trends, and the valuation range.
- Income statement & margin structure
- SWOT, moats & dependency map
- Supplier–customer ecosystem graph
- Signals, trends & valuation range