Tenaga Nasional Berhad

Tenaga Nasional Berhad

TNABF
Tenaga Nasional BerhadUS flagOther OTC
3.45
USD
-0.23
- -
20.11BMarket Cap
2013 Y
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
6.66
7.58
7.67
7.89
8.38
8.88
8.96
7.72
8.42
8.86
9.19
9.78
11.63
11.81
Basic EPS, GAAP
0.96
1.15
1.08
1.31
1.22
0.66
0.8
0.63
0.64
0.6
0.48
0.69
0.82
0.83
Free Cash Flow per Basic Share
0.2
0.08
0.19
0.38
0.01
0.31
1.53
1.51
0.86
0.14
3.75
1.93
-0.08
-0.14
Dividend per Share
0.25
0.25
0.29
0.29
0.39
0.52
0.53
0.92
0.8
0.38
0.41
0.4
0.41
0.15
Book Value per Share
6.79
7.6
8.37
9.39
11.17
11.32
11.56
11.25
11.09
11.32
9.65
9.79
10.08
9.98
Tangible Book Value per Share
6.81
7.7
8.39
9.28
10.14
10.36
10.38
10.01
10.14
10.52
8.66
8.8
8.97
8.89
Basic Weighted Avg Shares
5,572
5,644
5,644
5,644
5,659
5,675
5,687
5,697
5,718
5,738
5,772
5,800
5,824
5,824
Sales/Revenue/Turnover
37,131
42,792
43,287
44,532
47,417
50,392
50,940
43,976
48,120
50,868
53,067
56,737
67,723
68,788
Operating Margin (%)
15.43
16.31
19.31
19.93
19.28
13.72
15.13
16.44
17.67
17.54
12.55
13.08
11.7
12.6
Depreciation Expense
4,540
4,872
5,294
5,722
6,105
6,491
10,189
10,622
10,692
11,402
11,266
11,232
11,986
- -
Net Income, GAAP
5,356
6,467
6,118
7,368
6,904
3,724
4,529
3,593
3,662
3,463
2,770
3,978
4,768
4,808
Effective Tax Rate (%)
9.15
9.67
15.04
9.25
16.54
25.79
18.85
14.61
18.44
33.49
22.82
31.05
22.78
22.17
Profit Margin (%)
14.43
15.11
14.13
16.54
14.56
7.39
8.89
8.17
7.61
6.81
5.22
7.01
7.04
6.99
Working Capital
6,698
6,544
3,203
10,671
8,316
8,984
1,952
-999
-194
7,459
1,494
-651
-8,071
-7,529
LT Debt
26,921
29,263
28,887
38,242
42,027
48,560
69,835
68,514
70,829
80,758
82,317
76,702
75,039
77,017
Total Equity
37,971
43,459
47,467
52,600
57,579
59,052
59,282
57,450
58,392
60,966
51,245
52,011
52,974
52,506
Return on Invested Capital (%)
8.2
8.92
9.25
9.47
7.94
4.87
5.11
4.61
5.14
4.07
3.41
3.54
4.32
4.55
Return on Capital (%)
9.91
10.38
9.1
9.73
8
4.26
5.63
4.66
4.53
4.03
4.02
4.62
5.34
5.09
Return on Common Equity (%)
14.98
16.03
13.58
14.7
11.88
5.84
6.97
5.53
5.74
5.39
4.59
7.08
8.26
7.69

Capital Structure

FRC

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
8,694
14,530
15,029
LT Borrowings
50,979
47,134
48,272
LT Finance Leases
28,592
27,905
28,745
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
5,829
5,829
5,829
Market Capitalization
70,130
75,470
80,298

Working Capital

FRC

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
30,864
28,516
31,697
Cash, Cash Equivalents & STI
14,600
12,207
16,047
Accounts Receivable, Net
8,260
2,580
6,621
Inventories
2,425
2,562
2,331
Total Current Liabilities
34,745
36,588
39,226
Payables & Accruals
- -
- -
- -
ST Debt
8,694
14,530
15,029
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
1.36%
-1.31%
1.85%
Free Cash Flow
743.04%
463.22%
-103.93%
Net Income, GAAP
0.9%
7.99%
19.86%
Sales/Revenue/Turnover
4.88%
9.15%
19.36%
Total Cash Common Dividend
- -
-10.9%
4.03%

Quarterly Revenue

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
13,640
14,367
14,352
14,378
56,737
2025
16,039
16,835
17,250
17,600
67,723
2026
17,104
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.12
0.25
0.25
0.11
0.69
2025
0.18
0.2
0.15
0.29
0.82
2026
0.19
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
0.12
0.4
2025
- -
- -
- -
0.15
0.41
2026
- -
- -
- -
- -
- -

Company Description

APIChat
CEO
Shamsul Bin Ahmad
Full Time Employees
31,729
Sector
Utilities
Industry
Regulated Electric
Address
No. 129, Jalan Bangsar Kuala Lumpur Malaysia 59200
IPO Date
Nov 20, 2013
Website
tnb.com.my
Business
Tenaga Nasional Berhad operates as Malaysia's largest electricity utility, leading the energy sector across Asia with a robust presence in multiple countries. The company comprehensively manages electricity generation, transmission, distribution, and retail sales. Its generation portfolio includes significant thermal facilities utilizing coal and natural gas, major hydroelectric schemes in Peninsular Malaysia, and a growing number of renewable energy assets, including solar, wind, and hydro projects, domestically and in the UK, Turkiye, and India. TNB Power Generation Sdn Bhd (TNB Genco) contributes nearly 51% of Malaysia's power generation capacity. TNB also operates and maintains Malaysia's National Grid, which provides interconnections with power systems in Thailand and Singapore. The company serves over 10.6 million residential, commercial, and industrial customers throughout Peninsular Malaysia, Sabah, and Labuan. Beyond core electricity supply, TNB offers diverse energy-related services, including supplying fuel for power generation and providing specialized operation, maintenance, repair, and overhaul (MRO) services for power plants and heavy industries, with international engagements in countries such as Kuwait, Pakistan, and Cambodia. It also undertakes engineering, procurement, construction, and commissioning (EPCC) projects, develops district cooling systems, and operates co-generation facilities. In manufacturing, TNB produces, sells, and repairs various types of transformers, manufactures and distributes power and general cables and aluminum rods, and assembles high and medium voltage switchgears for electrical power transmission and distribution. Additionally, the company is involved in managing dry bulk terminals. The utility extends its capabilities to other sectors, offering telecommunication and IT infrastructure solutions, providing higher education through Universiti Tenaga Nasional (UNITEN), and conducting extensive research and development in engineering and technology. It also delivers training courses and provides insurance and reinsurance products through subsidiaries. TNB maintains a strategic focus on energy transition, aiming for Net Zero emissions by 2050 and a 35% reduction in emissions intensity by 2035. Recent initiatives include a memorandum of understanding with State Grid Corporation of China for technology cooperation, a full feasibility study with Singapore for a second power interconnection, and the maiden export of renewable energy to Singapore. The company recently uncovered over $1.1 billion in losses from electricity theft related to illegal cryptocurrency mining between 2020 and 2025, leading to the deployment of smart meters and a tracking database to combat this issue. Established in 1949, Tenaga Nasional Berhad is headquartered in Kuala Lumpur, Malaysia.