AES vs Talen Energy
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The short version
- AES is the larger business, with $12.2B of revenue in fiscal 2025 against $2.6B for Talen Energy, about 4.7 times as much.
- Talen Energy grew revenue faster (22.0%, against β0.4%).
- Talen Energy turned more of its sales into free cash flow (23.5% FCF margin, against β13.3%).
| Latest fiscal year | AES Β· FY25 | TLN Β· FY25 |
|---|---|---|
| Size | ||
| Market cap | $10.7B | $15.1B |
| Revenue | $12.2B | $2.6B |
| Free cash flow | β$1.6B | $606M |
| Net income | $910M | β$219M |
| Growth | ||
| Revenue growth | β0.4% | 22.0% |
| 5-year growth | 4.8% | β |
| Share count change | 0.1% | β19.1% |
| Profitability | ||
| Gross margin | 18.1% | β |
| Operating margin | β | β3.5% |
| Net margin | 7.4% | β8.5% |
| FCF margin | β13.3% | 23.5% |
| Return on capital | β | β1.3% |
| Return on equity | 23.6% | β17.7% |
| Balance sheet | ||
| Net debt | β | $6.1B |
| Net debt / EBITDA | β | 32.4x |
| Dividends and buybacks | $501M | $103M |
| Valuation & quality | ||
| P/E | 5.7x | β |
| Piotroski F-score | β | β |
Revenue
FY16
AES $10.3B
TLN β
FY17
AES $10.5B
TLN β
FY18
AES $10.7B
TLN β
FY19
AES $10.2B
TLN β
FY20
AES $9.7B
TLN β
FY21
AES $11.1B
TLN β
FY22
AES $12.6B
TLN β
FY23
AES $12.7B
TLN β
FY24
AES $12.3B
TLN $2.1B
FY25
AES $12.2B
TLN $2.6B
AES
TLN
Operating margin
FY16
AES β
TLN β
FY17
AES β
TLN β
FY18
AES β
TLN β
FY19
AES β
TLN β
FY20
AES β
TLN β
FY21
AES β
TLN β
FY22
AES β
TLN β
FY23
AES β
TLN β
FY24
AES β
TLN 10.7%
FY25
AES β
TLN β3.5%
AES
TLN
Free cash flow
FY16
AES $552M
TLN β
FY17
AES $327M
TLN β
FY18
AES $222M
TLN β
FY19
AES $61.0M
TLN β
FY20
AES $855M
TLN β
FY21
AES β$214M
TLN β
FY22
AES β$1.8B
TLN β
FY23
AES β$4.7B
TLN β
FY24
AES β$4.6B
TLN $171M
FY25
AES β$1.6B
TLN $606M
AES
TLN
Return on capital
FY16
AES β
TLN β
FY17
AES β
TLN β
FY18
AES β
TLN β
FY19
AES β
TLN β
FY20
AES β
TLN β
FY21
AES β
TLN β
FY22
AES β
TLN β
FY23
AES β
TLN β
FY24
AES β
TLN β
FY25
AES β
TLN β1.3%
AES
TLN
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.