Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Tenaga Nasional Bhd (XKLS:5347) Forward PE Ratio Explanation
The Forward PE Ratio of a company is often used to compare current earnings to estimated future earnings, as well as gaining a clearer picture of what earnings will look like without charges and other accounting adjustments. If earnings are expected to grow in the future, the Forward PE Ratio will be lower than the current PE Ratio. This measure is also used to compare one company to another with a forward-looking focus.
Trailing PE Ratio relies on what is already done. It uses the current share price and divides by the total EPS (Basic) over the past 12 months. PE Ratio can be affected by Non Operating Income such as the sale of part of businesses. This may increase for the current year or quarter dramatically. But it cannot be repeated over and over. Therefore PE Ratio without NRI is a more accurate indication of valuation than PE Ratio .
Tenaga Nasional Bhd Forward PE Ratio Related Terms
Tenaga Nasional Bhd Forward PE Ratio Historical Data
* Premium members only.
The historical data trend for Tenaga Nasional Bhd's Forward PE Ratio can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Tenaga Nasional Bhd Forward PE Ratio Chart
Tenaga Nasional Bhd Annual Data
Trend
2018-12
2019-12
2020-12
2021-12
2022-12
2023-12
2024-12
2025-12
Forward PE Ratio
11.39
12.08
12.15
10.98
10.91
12.69
19.24
16.68
Tenaga Nasional Bhd Quarterly Data
2018-03
2018-06
2018-09
2018-12
2019-03
2019-06
2019-09
2019-12
2020-03
2020-06
2020-09
2020-12
2021-03
2021-06
2021-09
2021-12
2022-03
2022-06
2022-09
2022-12
2023-03
2023-06
2023-09
2023-12
2024-03
2024-06
2024-09
2024-12
2025-03
2025-06
2025-09
2025-12
2026-03
Forward PE Ratio
13.21
11.81
12.99
11.39
12.92
14.12
12.39
12.08
13.68
13.07
12.12
12.15
12.27
11.48
11.39
10.98
11.27
10.12
9.44
10.91
10.91
10.72
11.75
12.69
16.26
19.65
18.25
19.24
16.70
17.87
15.98
16.68
17.06
XKLS:5347 vs NEE, SO, DUK: Forward PE Ratio Comparison
For the Utilities - Regulated Electric subindustry, Tenaga Nasional Bhd's Forward PE Ratio, along with its competitors' market caps and Forward PE Ratio data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Tenaga Nasional Bhd Forward PE Ratio vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, Tenaga Nasional Bhd's Forward PE Ratio distribution charts can be found below:
* The bar in red indicates where Tenaga Nasional Bhd's Forward PE Ratio falls into.
It's a measure of the price-to-earnings ratio (PE Ratio) using forecasted earnings for the calculation. While the earnings used are just an estimate and are not as reliable as current earnings data, there is still benefit in estimated P/E analysis. The forecasted earnings used in the formula can either be for the next 12 months or for the next full-year fiscal period.
Tenaga Nasional Bhd (XKLS:5347) has a Forward PE Ratio of 17.16 as of Jul. 15, 2026. Forward P/E ratio is the share price dividend by the expected per-share earnings in the next 12 months. View historical data on Tenaga Nasional Bhd and its competitors. According to the industry distribution chart, Tenaga Nasional Bhd ranks #177 out of 275 companies in the Utilities - Regulated industry, placing it in the top 64.4%.
Is Tenaga Nasional Bhd's Forward PE Ratio too high?
Tenaga Nasional Bhd's current Forward PE Ratio is 17.16. The Utilities - Regulated industry median Forward PE Ratio is 14.54. Tenaga Nasional Bhd's value of 17.16 is 18% above this industry median. Based on the distribution chart, Tenaga Nasional Bhd ranks #177 out of 275 companies in the Utilities - Regulated industry, which is below the industry midpoint. Overall, Tenaga Nasional Bhd has a GF Score™ of 83/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Tenaga Nasional Bhd's Forward PE Ratio compare to NEE and SO?
According to the Utilities - Regulated industry distribution chart, Tenaga Nasional Bhd ranks #177 out of 275 companies for Forward PE Ratio. This places Tenaga Nasional Bhd in the lower half of its industry. The industry median Forward PE Ratio is 14.54. Tenaga Nasional Bhd's value of 17.16 is 18% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Forward PE Ratio for an Utilities - Regulated company?
The median Forward PE Ratio among Utilities - Regulated companies is 14.54, based on 275 companies in the industry. Companies in the top quartile (top 25%) have a Forward PE Ratio significantly above this median, while those in the bottom quartile fall well below. However, Forward PE Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Tenaga Nasional Bhd's current Forward PE Ratio of 17.16 is 18% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Forward PE Ratio mean?
A high Forward PE Ratio can signal that a stock is expensive relative to its fundamentals. Forward P/E ratio is the share price dividend by the expected per-share earnings in the next 12 months. View historical data on Tenaga Nasional Bhd and its competitors. For the Utilities - Regulated industry, the median Forward PE Ratio is 14.54 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Tenaga Nasional Bhd's current Forward PE Ratio is 17.16. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Tenaga Nasional Bhd stock overvalued right now?
Based on GuruFocus' analysis, Tenaga Nasional Bhd (XKLS:5347) is currently considered Fairly Valued. The stock's GF Value™ is RM14.91, compared to a current price of RM14.38 — trading 3.6% below its estimated fair value. The current Forward PE Ratio is 17.16 and 18% above the Utilities - Regulated industry median of 14.54. Tenaga Nasional Bhd's overall GF Score™ is 83/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Forward PE Ratio calculated?
Forward PE Ratio is calculated from a company's financial statements. For Tenaga Nasional Bhd (XKLS:5347), the current Forward PE Ratio is 17.16 as of Jul. 15, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Tenaga Nasional Bhd (XKLS:5347) Overvalued in 2026?
Based on GuruFocus' analysis, Tenaga Nasional Bhd stock appears to be undervalued.
The current stock price of RM14.38 is trading 3.6% below its estimated GF Value™ of RM14.91.
GuruFocus considers Tenaga Nasional Bhd to be Fairly Valued.
Key valuation signals for XKLS:5347:
Forward PE Ratio: 17.16
GF Value™: RM14.91 vs. price of RM14.38 (3.6% below fair value)
Industry Position: 18% above the Utilities - Regulated median (#177 of 275)
No single metric tells the full story. See the XKLS:5347 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Tenaga Nasional Bhd is an electric utility company in Malaysia. The company is involved in the generation, transmission, distribution, and retail of electricity. TNB segments includes Power Generation, Grid, Distribution Network, and Retail. The company encompasses the company's portfolio of thermal and hydroelectric power plants located throughout Malaysia. Through its subsidiaries, TNB also engages in other energy-related operations, such as the manufacturing of transformers. The company generates maximum revenue through the sale of electricity in Malaysia. Its customers are mainly commercial operations, residential consumers, and large industrial entities.
83GF Score
Get the complete analysis for XKLS:5347
Forward PE Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
XKLS:5347 has been successfully added to your 
