Tenaga Nasional Bhd (5347) fair value: what the stock is really worth
We calculate from audited financials what Tenaga Nasional Bhd is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.
- Fair value above price? Yes
- Good quality? Yes
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Tenaga Nasional Bhd
5347 · KLSENeutralThe stock looks roughly fairly valued with average quality.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 18, 2026.
How to read this chart
60‑month range 6.66 MYR – 14.82 MYR · fair‑value band 9.21 MYR – 17.10 MYR · the 13.04 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. Dashed = 300-day average. As of Sep 18, 2026.
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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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. 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 13.04 MYR, while our model-based Fair Value estimate is 13.16 MYR, implying the stock looks roughly 0.9% fairly valued today.
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Valuation
Bull case: the Multiples group reads highest at a median of 14.72 MYR per share, and 9 of the 16 models we run sit above the 13.04 MYR price.
Bear case: the Earnings-Based group reads lowest at 5.16 MYR, and 7 of the 16 models stay below the price. Evidence for this calculation is high.
Scenario range: 9.21 MYR (bear) to 17.10 MYR (bull), the price of 13.04 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 83.7B MYR (≈ $20.5B) · P/E ratio 15.9 · P/S ratio 1.12 · EPS (TTM) 0.8200 MYR · Dividend yield 4.1% · Net margin 7.0% · Return on equity 8.4% · Return on assets (EBIT) 4.5%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 42 out of 100 (low confidence).
What moves the price
The share trades about 12% below its 52-week high and 6% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Utilities peers we cover trades at −36% fair-value upside, at 1%, 5347 screens cheaper than that median.
Fair Value models
All 16 models by family
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Set up alert →Quality Score breakdown
Of which business quality 47 · Market factors (momentum, volatility) 55
Revenue & earnings trend
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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)
- Undervalued stocks: Utilities
- 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 |
|---|---|---|---|
| NextEra Energy, Inc NEE | $81.07 | $29.88 | −63% |
| The Southern Company SO | $85.95 | $58.74 | −32% |
| Duke Energy Corporation DUK | $117.76 | $74.89 | −36% |
| National Grid plc NGG | $76.86 | $50.23 | −35% |
| American Electric Power Company AEP | $120.69 | $77.23 | −36% |
| Dominion Energy, Inc D | $63.87 | $37.67 | −41% |
| Entergy Corporation ETR | $102.92 | $38.37 | −63% |
| Xcel Energy Inc XEL | $72.49 | $44.61 | −38% |
| Exelon Corporation EXC | $42.44 | $36.26 | −15% |
| Consolidated Edison, Inc ED | $105.24 | $47.92 | −54% |
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Key figures of Tenaga Nasional Bhd
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