Filing Flows › Talen Energy (TLN) › Q4 2025
Talen Energy (TLN) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 26, 2026
Talen Energy (TLN) reported revenue of $749M for the fourth quarter 2025 (Q4 2025), +60% from a year earlier and -8% from the quarter before. Operating margin was -41.8%, net loss $363M (48.5% of revenue).
Talen Energy, Q4 2025: revenue $749M (+60% year over year), operating margin -41.8%, net loss $363M, operating cash flow $280M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $749M | -8% | +60% |
| Operating profit | −$313M | -219% | — |
| Net earnings | −$363M | -275% | — |
| Operating cash flow | $280M | -43% | 28× |
| Free cash flow | $254M | -46% | — |
What changed
Revenue was $749.0M in Q4 2025, up 60% year over year and down 8% from the previous quarter. Electricity sales and ancillary services, ISO/RTO was the largest line at 74% of revenue.
Operating costs exceeded revenue by $313.0M, an operating margin of -41.8%. Total costs grew 135% against revenue growth of 60%. The fastest-growing cost line was General & admin (+1117%). The quarter ended with a net loss of $363.0M, after a profit of $207.0M the previous quarter.
Operating cash flow was $280.0M (up 2700% year over year). Non-cash charges added back $71.0M of depreciation and amortization and $484.0M of share-based compensation. Working capital and other items added $88.0M. Capital expenditures of $26.0M left free cash flow of $254.0M.
Questions
What was Talen Energy's revenue in the fourth quarter 2025?
Talen Energy (TLN) reported revenue of $749M for the fourth quarter 2025 (Q4 2025), +60% from a year earlier and -8% from the quarter before.
Was Talen Energy profitable in the fourth quarter 2025?
Operating loss was $313M (-41.8% of revenue) and net loss $363M.
Source: Talen Energy 10-K on SEC EDGAR.