Tenaga Nasional BhdXKLS:5347 83 ROC (Joel Greenblatt) % is 6.13% as of Mar. 2026, which is 4% below its 10-year median of 6.37. 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 504 Utilities - Regulated companies, Tenaga Nasional Bhd ranks worse than 73.61% on this metric.
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits). He defines ROC (Joel Greenblatt) % as EBIT divided by the total of Property, Plant and Equipment and net working capital. Tenaga Nasional Bhd's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 6.13%.
The historical rank and industry rank for Tenaga Nasional Bhd's ROC (Joel Greenblatt) % or its related term are showing as below:
XKLS:5347'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: 5.02 Med: 6.37 Max: 9.8
Current: 6.21
During the past 13 years, Tenaga Nasional Bhd's highest ROC (Joel Greenblatt) % was 9.80%. The lowest was 5.02%. And the median was 6.37%.
XKLS:5347's ROC (Joel Greenblatt) % is ranked worse than 73.61% of 504
companies
in the Utilities - Regulated industry
Industry Median: 10.81
vs XKLS:5347: 6.21
Tenaga Nasional Bhd's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 2.70% per year.
Tenaga Nasional Bhd (XKLS:5347) ROC (Joel Greenblatt) % Explanation
The way Joel Greenblatt defines Return on Capital is a more accurate measure of how efficiently the company generates returns onthe capital actually invested in the business. EBIT is used instead of net income because the tax and interest payment may be affected by factors other than the core business operation. Intangible assets are not included in the calculation because they don't need to be replaced.
Tenaga Nasional Bhd ROC (Joel Greenblatt) % Related Terms
Tenaga Nasional Bhd ROC (Joel Greenblatt) % Historical Data
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The historical data trend for Tenaga Nasional Bhd's ROC (Joel Greenblatt) % 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.
XKLS:5347 vs NEE, SO, DUK: ROC (Joel Greenblatt) % Comparison
For the Utilities - Regulated Electric subindustry, Tenaga Nasional Bhd's ROC (Joel Greenblatt) %, along with its competitors' market caps and ROC (Joel Greenblatt) % 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 ROC (Joel Greenblatt) % vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, Tenaga Nasional Bhd's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Tenaga Nasional Bhd's ROC (Joel Greenblatt) % falls into.
Tenaga Nasional Bhd ROC (Joel Greenblatt) % Calculation
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits) . He defines Return on Capital as follows:
EBIT stands for Earnings Before Interest and Taxes.
Fixed Assets are also known as non-current assets. They include the Property, Plant and Equipment that the firm needs in its operation.
GuruFocus calculates net working capital as: (Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Deferred Revenue + Other Current Liabilities). We're trying to account for OPERATING assets and liabilities (part of daily business) when calculating working capital. Cash and marketable securities are considered NON-OPERATING assets and are not included in calculation. We will also back out all interest bearing debt, short term debt and the portion of long term debt that is due in the current period from the current liabilities. This debt will be considered when computing cost of capital and it would be inappropriate to count it twice.
Note:
The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.
* 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.
What does a ROC (Joel Greenblatt) % of 6.13% mean?
Tenaga Nasional Bhd (XKLS:5347) has a ROC (Joel Greenblatt) % of 6.13% as of Mar. 2026. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Tenaga Nasional Bhd and its competitors. This is near median its historical median of 6.37. Over the past decade, Tenaga Nasional Bhd's ROC (Joel Greenblatt) % has ranged from 5.02 to 9.80. According to the industry distribution chart, Tenaga Nasional Bhd ranks #371 out of 504 companies in the Utilities - Regulated industry, placing it in the top 73.6%.
Is Tenaga Nasional Bhd's ROC (Joel Greenblatt) % too high?
Tenaga Nasional Bhd's current ROC (Joel Greenblatt) % of 6.13% is near median its 10-year median of 6.37. Over the past 10 years, this metric has ranged from a low of 5.02 to a high of 9.80. The Utilities - Regulated industry median ROC (Joel Greenblatt) % is 10.81. Tenaga Nasional Bhd's value of 6.13% is 43.3% below this industry median. Based on the distribution chart, Tenaga Nasional Bhd ranks #371 out of 504 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 ROC (Joel Greenblatt) % compare to NEE and SO?
According to the Utilities - Regulated industry distribution chart, Tenaga Nasional Bhd ranks #371 out of 504 companies for ROC (Joel Greenblatt) %. This places Tenaga Nasional Bhd in the lower half of its industry. The industry median ROC (Joel Greenblatt) % is 10.81. Tenaga Nasional Bhd's value of 6.13% is 43.3% below this benchmark. Historically, Tenaga Nasional Bhd's own ROC (Joel Greenblatt) % has ranged from 5.02 to 9.80 over the past decade. While the company's 10-year median is 6.37 vs. the industry median of 10.81, 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 ROC (Joel Greenblatt) % for an Utilities - Regulated company?
The median ROC (Joel Greenblatt) % among Utilities - Regulated companies is 10.81, based on 504 companies in the industry. Companies in the top quartile (top 25%) have a ROC (Joel Greenblatt) % significantly above this median, while those in the bottom quartile fall well below. However, ROC (Joel Greenblatt) % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Tenaga Nasional Bhd's current ROC (Joel Greenblatt) % of 6.13% is 43.3% 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 ROC (Joel Greenblatt) % mean?
A high ROC (Joel Greenblatt) % can signal that a stock is expensive relative to its fundamentals. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Tenaga Nasional Bhd and its competitors. For the Utilities - Regulated industry, the median ROC (Joel Greenblatt) % is 10.81 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Tenaga Nasional Bhd's current ROC (Joel Greenblatt) % is 6.13%, which is near median its own 10-year median of 6.37. 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 RM14.30 — trading 4.1% below its estimated fair value. The current ROC (Joel Greenblatt) % is 6.13%, which is near median its 10-year median of 6.37 and 43.3% below the Utilities - Regulated industry median of 10.81. 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 ROC (Joel Greenblatt) % calculated?
ROC (Joel Greenblatt) % is calculated from a company's financial statements. For Tenaga Nasional Bhd (XKLS:5347), the current ROC (Joel Greenblatt) % is 6.13% 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 RM14.30 is trading 4.1% below its estimated GF Value™ of RM14.91.
GuruFocus considers Tenaga Nasional Bhd to be Fairly Valued.
Key valuation signals for XKLS:5347:
ROC (Joel Greenblatt) %: 6.13% (near median its 10-year median of 6.37)
GF Value™: RM14.91 vs. price of RM14.30 (4.1% below fair value)
Industry Position: 43.3% below the Utilities - Regulated median (#371 of 504)
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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