Tenaga Nasional Bhd (5347) fair value: what the stock is really worth
As of Nov 5, 2026: fair value (intrinsic value) of Tenaga Nasional Bhd stock MYR 13.16, price MYR 13.10, upside +0.5%, quality 51 out of 100. Rating: fairly valued. Calculated from audited financials with 17 of our 26 valuation models and 37 quality factors, updated daily.
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Tenaga Nasional Bhd
5347 · KLSEThe stock costs about what our calculation considers fair.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 3, 2026.
How to read this chart
60‑month range 6.54 MYR – 14.56 MYR · fair‑value band 9.21 MYR – 17.10 MYR · the 13.10 MYR price screens below the 13.16 MYR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. As of Nov 3, 2026.
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Company profile
Tenaga Nasional Berhad engages in the generation, transmission, distribution, and sale of electricity in Malaysia, the United Kingdom, Kuwait, the Republic of Ireland, Australia, and internationally.
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It operates and maintains thermal and hydroelectric power plants; and operates and manages the National Grid that is connected to Thailand's transmission system, as well as Singapore's transmission system at Senoko.
The company also supplies fuel and coal for power generation; generates, distributes, supplies, deals in, and sells various energy sources, as well as provides related technical services; develops district cooling systems; operates and maintains co-generation works; manufactures, sells, and repairs distribution, power, and earthing transformers; and owns, develops, and manages dry bulk terminals.
In addition, it provides turnkey contracting services to transmission substations; repair and maintenance services to heavy industries and other related services; operation and maintenance services to telecommunication equipment and data centres; higher education, telecommunication, and IT infrastructure solution and services; research and development services in the areas of engineering, information technology, business, accountancy, and liberal studies; and training courses.
Further, the company offers insurance and reinsurance, technical and laboratory, consultancy, and other services; manufactures and distributes power and general cables, and aluminum rods; operates an integrated district cooling systems for air conditioning systems of office buildings; assembles, manufactures, tests, reconditions, and distributes high and medium voltage switchgears and control gears for transmission and distribution of electric power; and operates wind assets.
It primarily serves commercial, industrial, and residential customers. The company was founded in 1949 and is headquartered in Kuala Lumpur, Malaysia.
Stock analysis
Tenaga Nasional Bhd (5347) currently trades at 13.10 MYR, while our model-based Fair Value estimate is 13.16 MYR, so the stock looks roughly fairly valued today (gap 0.5%).
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Valuation
Bull case: the DCF Models group reads highest at a median of 29.65 MYR per share, and 8 of the 17 models we run sit above the 13.10 MYR price.
Bear case: the Earnings-Based group reads lowest at 5.16 MYR, and 9 of the 17 models stay below the price. Data coverage for this calculation is high.
Scenario range: 9.21 MYR (bear) to 17.10 MYR (bull), the price of 13.10 MYR sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 51/100 (solid quality), in the Utilities sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Tenaga Nasional Bhd reported revenue of 67.7B MYR in FY2025 versus 52.6B MYR in FY2021, a compound +6.5%/yr. Reported net income was 4.8B MYR in FY2025, compounding +6.8%/yr from FY2021.
Key figures
Market cap 76.4B MYR (≈ $18.9B) Large · P/E ratio 17.0 · P/S ratio 1.13 · EPS (TTM) 0.7700 MYR · Dividend yield 4.0% · Net margin 6.7% · Return on equity 7.8% · Return on assets (EBIT) 4.5%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 40 out of 100 (low confidence).
What moves the price
The share trades about 10% below its 52-week high and 9% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Utilities peers we cover trades at −38% fair-value upside, at 0%, 5347 screens cheaper than that median.
Fair Value models
All 17 models by family
Quality Score breakdown
It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.
Revenue & earnings trend
Watch 5347, get fair value alerts →
Earlier news
- Tenaga Nasional Bhd's Dividend Analysis
- How The Tenaga Nasional Berhad (KLSE:TENAGA) Story Is Shifting With A Higher Fair Value
Compare Tenaga Nasional Bhd with another stock
Price, fair value, quality and upside side by side.
Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Utilities - Regulated Electric · 156 stocks
Valuation Multiplesvs Utilities - Regulated Electric median · lower = cheaper
Strength profile in five axes (Snowflake)
Context: sector, industry, market
- Is the Utilities sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- P/B ratio by industry
- Net margin by industry
- Stock screener with 62 metrics
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- Valuation of the Malaysia market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Utilities - Regulated Electric stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value | Compare |
|---|---|---|---|---|
| PG&E Corporation PCG | $13.40 | $17.29 | +29% | vs 5347 |
| Exelon Corporation EXC | $46.24 | $36.01 | −22% | vs 5347 |
| American Electric Power Company AEP | $129.24 | $100.03 | −23% | vs 5347 |
| Xcel Energy Inc XEL | $80.50 | $53.45 | −34% | vs 5347 |
| The Southern Company SO | $93.12 | $57.57 | −38% | vs 5347 |
| Duke Energy Corporation DUK | $129.59 | $75.79 | −42% | vs 5347 |
| Dominion Energy, Inc D | $69.75 | $37.88 | −46% | vs 5347 |
| Consolidated Edison, Inc ED | $120.30 | $47.76 | −60% | vs 5347 |
| NextEra Energy, Inc NEE | $88.45 | $29.83 | −66% | vs 5347 |
| Entergy Corporation ETR | $111.90 | $37.37 | −67% | vs 5347 |
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Key figures of Tenaga Nasional Bhd
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