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Using a calibrated Motorola R 2012 D analyzer connected directly to the F connector output, the units run at about 135mW no modulation. The Motorola has a built in 50 ohm dummy load and was calibrated 4 months prior to the testing.
Something isn’t right with your test connection, scope settings or probe type.
Adding: You might want to throw that scope to AC mode instead of DC. You are in fact measuring for an AC signal..not DC.
The displayed waveform in the photo looks as if the scope deflection circuits are off balance, or your feeding the TH with asymmetrical modulation..something the TH units are not good at transmitting. Measure with no modulation..should be a nice even fat waveform, expand the sweep and you should see a nice sine wave, even rise and fall times, not lop sided.