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Tenaga Nasional BhdXKLS:5347 +0.70%83 Return-on-Tangible-Asset is 2.20% as of Mar. 2026, which is 0% below its 10-year median of 2.21. GuruFocus rates XKLS:5347 with a GF Score™ of 83/100 and a GF Value™ of RM14.91 (Fairly Valued). The stock has 7 warning signs investors should review. Among 510 Utilities - Regulated companies, Tenaga Nasional Bhd ranks worse than 65.69% on this metric.
Return-on-Tangible-Asset is calculated as Net Income divided by its average total tangible assets. Total tangible assets equals to Total Assets minus Intangible Assets. Tenaga Nasional Bhd's annualizedNet Income for the quarter that ended in Mar. 2026 was RM4,390 Mil. Tenaga Nasional Bhd's average total tangible assets for the quarter that ended in Mar. 2026 was RM199,860 Mil. Therefore, Tenaga Nasional Bhd's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was 2.20%.
The historical rank and industry rank for Tenaga Nasional Bhd's Return-on-Tangible-Asset or its related term are showing as below:
XKLS:5347'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: 1.37 Med: 2.21 Max: 5.9
Current: 2.38
During the past 13 years, Tenaga Nasional Bhd's highest Return-on-Tangible-Asset was 5.90%. The lowest was 1.37%. And the median was 2.21%.
XKLS:5347's Return-on-Tangible-Asset is ranked worse than 65.69% of 510
companies
in the Utilities - Regulated industry
Industry Median: 3.3
vs XKLS:5347: 2.38
Tenaga Nasional Bhd (XKLS:5347) Return-on-Tangible-Asset Explanation
Return-on-Tangible-Asset measures the rate of return on the average total tangible assets (total assets minus intangible assets). Tangible means physical in nature. Intangible Assets are assets that are not physical in nature, and typically "derive their value from legal or intellectual rights." Return-on-Tangible-Asset measures a firm's efficiency at generating profits from its tangible assets. It shows how well a company uses what it has to generate earnings. Return-on-Tangible-Assets can vary drastically across industries. Therefore, Return-on-Tangible-Asset should not be used to compare companies in different industries.
Be Aware
Like ROE and ROA, Return-on-Tangible-Asset is calculated with only 12 months data. Fluctuations in the companys earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. Return-on-Tangible-Asset can be affected by events such as stock buyback or issuance, and by a companys tax rate and its interest payment. Return-on-Tangible-Asset may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).
Many analysts argue the higher return the better. Buffett states that really high Return-on-Tangible-Asset may indicate vulnerability in the durability of the competitive advantage.
Tenaga Nasional Bhd Return-on-Tangible-Asset Related Terms
Tenaga Nasional Bhd Return-on-Tangible-Asset Historical Data
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The historical data trend for Tenaga Nasional Bhd's Return-on-Tangible-Asset 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 Return-on-Tangible-Asset Chart
XKLS:5347 vs NEE, SO, DUK: Return-on-Tangible-Asset Comparison
For the Utilities - Regulated Electric subindustry, Tenaga Nasional Bhd's Return-on-Tangible-Asset, along with its competitors' market caps and Return-on-Tangible-Asset 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 Return-on-Tangible-Asset vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, Tenaga Nasional Bhd's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Tenaga Nasional Bhd's Return-on-Tangible-Asset falls into.
* 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.
In the calculation of annual Return-on-Tangible-Asset, the net income of the last fiscal year and the average total tangible assets over the fiscal year are used. In calculating the quarterly data,
the Net Income data used here is four times the quarterly (Mar. 2026) net income data.
What does a Return-on-Tangible-Asset of 2.20% mean?
Tenaga Nasional Bhd (XKLS:5347) has a Return-on-Tangible-Asset of 2.20% as of Mar. 2026. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Tenaga Nasional Bhd and its competitors. This is near median its historical median of 2.21. Over the past decade, Tenaga Nasional Bhd's Return-on-Tangible-Asset has ranged from 1.37 to 5.90. According to the industry distribution chart, Tenaga Nasional Bhd ranks #335 out of 510 companies in the Utilities - Regulated industry, placing it in the top 65.7%.
Is Tenaga Nasional Bhd's Return-on-Tangible-Asset too high?
Tenaga Nasional Bhd's current Return-on-Tangible-Asset of 2.20% is near median its 10-year median of 2.21. Over the past 10 years, this metric has ranged from a low of 1.37 to a high of 5.90. The Utilities - Regulated industry median Return-on-Tangible-Asset is 3.30. Tenaga Nasional Bhd's value of 2.20% is 33.3% below this industry median. Based on the distribution chart, Tenaga Nasional Bhd ranks #335 out of 510 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 Return-on-Tangible-Asset compare to NEE and SO?
According to the Utilities - Regulated industry distribution chart, Tenaga Nasional Bhd ranks #335 out of 510 companies for Return-on-Tangible-Asset. This places Tenaga Nasional Bhd in the lower half of its industry. The industry median Return-on-Tangible-Asset is 3.30. Tenaga Nasional Bhd's value of 2.20% is 33.3% below this benchmark. Historically, Tenaga Nasional Bhd's own Return-on-Tangible-Asset has ranged from 1.37 to 5.90 over the past decade. While the company's 10-year median is 2.21 vs. the industry median of 3.30, Tenaga Nasional Bhd has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Return-on-Tangible-Asset for an Utilities - Regulated company?
The median Return-on-Tangible-Asset among Utilities - Regulated companies is 3.30, based on 510 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Asset significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Asset should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Tenaga Nasional Bhd's current Return-on-Tangible-Asset of 2.20% is 33.3% below 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 Return-on-Tangible-Asset mean?
A high Return-on-Tangible-Asset can signal that a stock is expensive relative to its fundamentals. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Tenaga Nasional Bhd and its competitors. For the Utilities - Regulated industry, the median Return-on-Tangible-Asset is 3.30 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Tenaga Nasional Bhd's current Return-on-Tangible-Asset is 2.20%, which is near median its own 10-year median of 2.21. 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 RM14.40 — trading 3.4% below its estimated fair value. The current Return-on-Tangible-Asset is 2.20%, which is near median its 10-year median of 2.21 and 33.3% below the Utilities - Regulated industry median of 3.30. 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 Return-on-Tangible-Asset calculated?
Return-on-Tangible-Asset is calculated from a company's financial statements. For Tenaga Nasional Bhd (XKLS:5347), the current Return-on-Tangible-Asset is 2.20% as of Mar. 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 RM14.40 is trading 3.4% below its estimated GF Value™ of RM14.91.
GuruFocus considers Tenaga Nasional Bhd to be Fairly Valued.
Key valuation signals for XKLS:5347:
Return-on-Tangible-Asset: 2.20% (near median its 10-year median of 2.21)
GF Value™: RM14.91 vs. price of RM14.40 (3.4% below fair value)
Industry Position: 33.3% below the Utilities - Regulated median (#335 of 510)
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
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