Spire vs Talen Energy
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The short version
- Talen Energy is the larger business, with $2.6B of revenue in fiscal 2025 against $2.5B for Spire.
- Talen Energy grew revenue faster (22.0%, against β4.5%).
- Spire kept more of each dollar of sales as operating profit (21.2% operating margin, against β3.5%).
- Talen Energy turned more of its sales into free cash flow (23.5% FCF margin, against β13.9%).
- Spire earned a higher return on the capital invested in it (5.2%, against β1.3%).
| Latest fiscal year | SR Β· FY25 | TLN Β· FY25 |
|---|---|---|
| Size | ||
| Market cap | $5.0B | $15.1B |
| Revenue | $2.5B | $2.6B |
| Free cash flow | β$344M | $606M |
| Net income | $272M | β$219M |
| Growth | ||
| Revenue growth | β4.5% | 22.0% |
| 5-year growth | 5.9% | β |
| Share count change | 4.3% | β19.1% |
| Profitability | ||
| Gross margin | 58.8% | β |
| Operating margin | 21.2% | β3.5% |
| Net margin | 11.0% | β8.5% |
| FCF margin | β13.9% | 23.5% |
| Return on capital | 5.2% | β1.3% |
| Return on equity | 8.2% | β17.7% |
| Balance sheet | ||
| Net debt | $5.2B | $6.1B |
| Net debt / EBITDA | 6.3x | 32.4x |
| Dividends and buybacks | $182M | $103M |
| Valuation & quality | ||
| P/E | 15.0x | β |
| Piotroski F-score | 5 | β |
Revenue
FY16
SR $1.5B
TLN β
FY17
SR $1.7B
TLN β
FY18
SR $2.0B
TLN β
FY19
SR $2.0B
TLN β
FY20
SR $1.9B
TLN β
FY21
SR $2.2B
TLN β
FY22
SR $2.2B
TLN β
FY23
SR $2.7B
TLN β
FY24
SR $2.6B
TLN $2.1B
FY25
SR $2.5B
TLN $2.6B
SR
TLN
Operating margin
FY16
SR 18.4%
TLN β
FY17
SR 19.6%
TLN β
FY18
SR 15.0%
TLN β
FY19
SR 15.5%
TLN β
FY20
SR 11.1%
TLN β
FY21
SR 20.1%
TLN β
FY22
SR 18.6%
TLN β
FY23
SR 15.7%
TLN β
FY24
SR 18.8%
TLN 10.7%
FY25
SR 21.2%
TLN β3.5%
SR
TLN
Free cash flow
FY16
SR $35.0M
TLN β
FY17
SR β$150M
TLN β
FY18
SR β$42.8M
TLN β
FY19
SR β$372M
TLN β
FY20
SR β$169M
TLN β
FY21
SR β$375M
TLN β
FY22
SR β$497M
TLN β
FY23
SR β$222M
TLN β
FY24
SR $51.1M
TLN $171M
FY25
SR β$344M
TLN $606M
SR
TLN
Return on capital
FY16
SR 4.9%
TLN β
FY17
SR 5.0%
TLN β
FY18
SR 6.0%
TLN β
FY19
SR β
TLN β
FY20
SR β
TLN β
FY21
SR 10.1%
TLN β
FY22
SR 6.7%
TLN β
FY23
SR 5.2%
TLN β
FY24
SR 5.1%
TLN β
FY25
SR 5.2%
TLN β1.3%
SR
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.