Forensic Analysis · Utilities · as of Sep 24, 2026
Talen Energy Corp (TLN)
A forensic read on Talen Energy Corp built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
F · Poor — capital at risk
Forensic grade
Grey Zone
Financial health
1.5
Distress distance
Clean
Earnings quality
2
Forensic signals
-72.4
P / E (ttm)
-20.0%
ROE
$14.4B
Market cap
0.00%
Dividend yield
22.0%
Revenue growth
This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence, going concern, valuation). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.
Talen Energy Corp earns an F (Poor — capital at risk) forensic quality grade, and its balance-sheet distress test reads 1.5, placing it in the Grey zone. 2 forensic signals were flagged in its latest SEC filings, led by accruals ratio (% of noa).
What the filings flag
+55.9%
FY2024→FY2025
Accruals ratio (% of NOA).Net operating assets grew +55.9% relative to their own average in FY2025 — scaled by NOA itself, not by total assets, which is what the Forensic Screens card's own accrual row divides by. Accruals are building sharply — a large slice of profit sits in operating assets, not cash. An accrual is a claim that still has to be collected or written down, so the gap resolves in a later period whichever way it goes. The build is led by receivables up +142% against revenue +22%. A cash-flow measure on the same base disagrees: reported earnings ran behind operating cash by 16% of net operating assets, against an accruals ratio of 55.9%. The two are computed differently: the accruals ratio is the change in net operating assets over average net operating assets, while the cash-flow figure is net income less operating cash flow over that same average. Read them as two results, not one.
-0.8%
FY2025
Return on invested capital.Return on invested capital is -0.8% in the latest fiscal year, against 4% in FY2024. The capital base behind it grew +72% across FY2024–FY2025, from $5.3B to $9.2B, while the return fell 4.6 points, so the dollars added over that window earned less than the 4% the older base was already earning.
Key fundamentals
Latest Revenue$2.58B
Revenue Growth YoY+22.0%
Net Margin-8.5%
Free Cash Flow$606.0M
Return on Equity-20.0%
Debt / Equity6.23x
The forensic grade and screens above are free — no account needed. Want the AI investment read on top — the 0–100 rating, thesis, bull-vs-bear, red flags and the 12-month scenario, written from Talen Energy Corp's actual 10-K/10-Q/8-K filings?