Filing Flows

Filing Flows › Companies › Talen Energy › Cash flow

Talen Energy cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$296M in Q3 2026 · $396M over twelve months

Operating cash flow$463M
Capital spending−$167M
Free cash flow+$296M
Cash / net income3.4×

Analysis

In Q3 2026, Talen Energy generated $463M of operating cash flow and spent $167M on capital projects, leaving free cash flow of $296M. That is $172M less than in Q3 2025 ($468M).

Over the twelve months to Sep 30, 2026, operating cash flow was $770M; the largest uses were acquisitions ($6.4B), buybacks ($502M), capital spending ($374M); besides operations, cash came from other financing ($6.6B); the cash balance fell by $148M.

Operating cash flow was $463M against net income of $138M — 3.4× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$127M, stock-based pay +$51.0M, deferred taxes +$48.0M.

Free cash flow

Talen Energy: free cash flow by quarterTalen Energy: free cash flow by quarter−$17.0MQ4 2024$101MQ1 2025−$217MQ2 2025$468MQ3 2025$254MQ4 2025$419MQ1 2026−$573MQ2 2026$296MQ3 2026
Operating cash flow less capital spending.
Talen Energy: operating cash flow against capital spendingTalen Energy: operating cash flow against capital spendingOperating cash flowCapital spending$10.0M$27.0MQ4 2024$119M$18.0MQ1 2025−$184M$33.0MQ2 2025$489M$21.0MQ3 2025$280M$26.0MQ4 2025$461M$42.0MQ1 2026−$434M$139MQ2 2026$463M$167MQ3 2026
Latest (Q3 2026): Operating cash flow $463M, Capital spending $167M.

Capital allocation, year by year

Talen Energy: where the cash came from (up) and went (down), by fiscal yearTalen Energy: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingAsset salesCapital spendingAcquisitionsBuybacksFY2014: Operating cash flow $462MFY2014: Net borrowing $321MFY2014: Asset sales $900MFY2014: Capital spending −$431M$1.7BFY2014FY2015: Operating cash flow $768MFY2015: Net borrowing $103MFY2015: Asset sales $116MFY2015: Capital spending −$464MFY2015: Acquisitions −$603M$987MFY2015FY2022: Operating cash flow $187MFY2022: Capital spending −$232M$187MFY2022FY2024: Operating cash flow $256MFY2024: Asset sales $1.4BFY2024: Capital spending −$85.0MFY2024: Buybacks −$2.0B$1.7BFY2024FY2025: Operating cash flow $704MFY2025: Capital spending −$98.0MFY2025: Acquisitions −$3.8BFY2025: Buybacks −$103M$704MFY2025
Over these 5 years operating cash flow totalled $2.4B; the largest uses were acquisitions ($4.4B) and buybacks ($2.1B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$335M
Debt$9.6B
Net debt$9.2B
Due within a year$29.0M

Talen Energy funds itself: free cash flow was $396M over the last twelve months, and $335M of cash and investments stands against $9.6B of debt ($29.0M due within a year, 11.6× covered by cash).

Talen Energy: debt maturities by year (FY2025)Talen Energy: debt maturities by year (FY2025)$29.0MYear 1$29.0MYear 2$29.0MYear 3$29.0MYear 4$2.0BYear 5$4.8BAfter year 5
Principal due in each year as disclosed in the annual report, against $335M of cash and investments now.

Where the cash came from and went

Talen Energy: sources (+) and uses (−) of cash, Q3 2026Talen Energy: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$463MBuybacks−$204MCapital spending−$167MCash drawn (+) / kept (−)−$111MOther investing$29.0MNet borrowing (+) / repaid (−)−$7.0MAcquisitions−$1.0MTaxes on employees’ shares−$1.0MOther financing−$1.0M
Talen Energy: sources (+) and uses (−) of cash, TTM to Q3 2026Talen Energy: sources (+) and uses (−) of cash, TTM to Q3 2026Other financing$6.6BAcquisitions−$6.4BOperating cash flow$770MBuybacks−$502MCapital spending−$374MTaxes on employees’ shares−$167MCash drawn (+) / kept (−)$148MOther investing−$74.0M

From profit to cash

Talen Energy: net income to operating cash flow, Q3 2026Talen Energy: net income to operating cash flow, Q3 2026Net income$138MDepreciation & amortization$127MStock-based pay$51.0MDeferred taxes$48.0MGains on investments−$3.0MOther non-cash−$5.0MReceivables−$11.0MInventory−$24.0MPayables$41.0MPrepaid and other assets$9.0MOther liabilities−$16.0MOperating cash flow$463M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$463M−$167M−$1.0M−$204M−$7.0M−$111M$296M
Q2 2026−$434M−$139M—−$198M—$789M−$573M
Q1 2026$461M−$42.0M—−$100M—−$275M$419M
Q4 2025$280M−$26.0M−$3.8B——−$255M$254M
Q3 2025$489M−$21.0M——−$74.0M−$362M$468M
Q2 2025−$184M−$33.0M—−$20.0M$70.0M$185M−$217M
Q1 2025$119M−$18.0M—−$83.0M—$45.0M$101M
Q4 2024$10.0M−$27.0M—−$1.0B—$767M−$17.0M

Talen Energy: income statement and cash flow

Talen Energy, Q3 2026: revenue $1.3B (+63% year over year), operating margin 19.2%. The chart follows the revenue to costs, profit and cash.

Talen Energy: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.